The Rohan Marley-directed Jammin Java Corporation lost two-thirds of its US$1/2 billion ($43 billion) in market worth over seven days amidst the release of losses in its annual report.

The coffee company directors also expressly denied inflating the stock price (via third parties) in order to gain fame and fortune on the Over-the-Counter (OTC) market in the US.

Jammin Java coffee company currently has a market worth of some US$148 million following the stock’s fall from US$6.11 on Thursday, May 12 to about US$1 on May 18. Yesterday up to mid-day the stock traded at US2.12. Despite the fall in price its still trading at three times its year to date US$0.60 price, market data indicates.

Jammin Java, which literally just started selling coffee in its fourth quarter, recommended investors view the stock as a long term investment; whilst cautioning about stock analysts’ touting the stock for short term gain. Jammin Java is the US distribution arm of Marley Coffee, the flagship brand and farm operation based in Jamaica.

“The Company further cautions the public about unauthorised stock promotion campaigns touting short term investments in the company’s common stock which are paid for by third parties without the involvement, knowledge, consent, or participation of the Company,” stated the director’s report attached within the annual report endorsed by Anh Tran, president, treasurer and chief executive officer. “The Company recommends that no investor purchase the company’s common stock with the view to sell the company’s stock in the short-term or in an effort to make a short-term profit, but instead investors purchase the Company’s securities with a view towards long-term investment based on a review of the Company’s periodic…current report… and other information as filed with the Securities and Exchange Commission, including its description of business operations, financial statements, and results of operations as disclosed therein.”

Jammin Java, still in its ‘developmental stages’ reported a US$151,000 net loss or 16.7 per cent worse year on year due to higher fees. The company currently has an accumulated deficit of US$574,000; however it is recently secured some US$2.5 million in working capital financing which it revealed this month in an earlier filing.

“The main reason for the increase in net loss was due to increased professional service fees and corporate reporting expenses offset by the decrease in impairment of property and equipment,” stated the company in its US government filings published late this month.

The company stated that sales totaled some US$1,000 for the financial year but stated that up to May 2011 its sales totaled some US$42,000. Over the next 12 months the company expects to spend US$400,000 with some 86 per cent on marketing and advertising.

“Sales to customers in the United States and Canada commenced in the fourth quarter and are steadily increasing. Our main sales to date have been to internet based customers such as Cooking.com and Amazon.com. The Company has also been listed with several distributors from United National Foods, Inc (UNFI) in Canada to Gourmet Merchants International in the United States. These sale arrangements are not documented by formal agreements,” it stated in its US government filings.

Jammin Java Corp, a US-based company provides premium roasted coffee on a wholesale level to the service, hospitality, office coffee service and big box store industry. Last year, Rohan Marley listed Jammin Java on the US OTC Stock Exchange.

The company plans to emulate the Starbucks model which includes coffee shops and a distribution chain.

The company also said about the stock promoters: “For clarification, the company would like to advise that neither the company, nor any officer, director, employee or agent of the Company, has authorised, paid for, or approved any “stock report” or similar advertisement or promotion of the Company’s common stock and expressly repudiates the promotions described above in their entirety. The Company itself is not currently offering or selling any common stock publicly.

Any information regarding the Company which is authorized and approved for public distribution will be issued by the Company itself as a press release or public filing with the Commission”.