MARLEY Coffee, the rapidly growing US based start-up chaired by Rohan Marley made its first ever profit last month which signals a turning point for the brand that sells coffee from Jamaica but mostly other parts of the world.

It resulted in management revealing preliminary plans for the company currently listed on the penny stock OTC market to list on the larger US based stock exchanges including the NASDAQ or New York Stock Exchange.

For the month of July, the company expects a profit of approximately US$25,000 (not taking into account non-cash expenses). Its the “first month the company has ever posted a profit” according to statements sent to shareholders this week.

The company aims to become cash flow positive in the third quarter even as it continues to expand and launch new products.

“Directionally, we are headed in the right way across the business. Revenue is up, losses are down, distribution is picking up steam and we are launching innovative products, like EcoCup, that can help change the 11 billion single serve capsule category,” said Rohan Marley in a statement accompanying its financial update to shareholders. “I believe this is the quarter that all of our shareholders have been waiting for — a turning point that we can sustain.”

The company continues to grow with its net sales at US$2.9 million for its July second-quarter 2015 or more than a third higher than a year earlier with narrowing losses, management indicated. Its the 17th quarter in a row of year-over-year revenue growth. But despite the net profit expectation over 30 days it still recorded a net loss over 90 days ending July at US$372,000 before interest, depreciation and stock compensation. On the positive side, that net loss is about three-quarters less than the net loss made a year earlier.

During the quarter ended July 31, 2015, the company increased its distribution with large and small retailers across the country. Kroger added Jamaican Blue Mountain RealCup to most of its divisions, Meijer grocery stores added 11 stock keeping units (SKUs) to over 61 stores and Wegmans added 3 RealCup SKUs.

South Korea remains one of its fastest growth markets for Marley Coffee where it offers seven branded cafes with plans to launch up to 30 in three years. These cafes are operated by independent third-party businesses.

During the quarter, the company signed a supply and distribution agreement with C&V International Co., Ltd to become the exclusive distributor, in South Korea for all channels including Marley Coffee branded cafes. Its cafes in South Korea are owned and operated by third parties.

“We have remained focused on core objectives and continue to do what we’ve said in previous reports, which is to rapidly drive sales growth and remain operationally efficient while moving to turn a profit”, explained Brent Toevs, CEO of Marley Coffee. “For the back half of this fiscal year, the main objectives are to continue revenue growth while getting to profitability, continue to look for non-dilutive financing, preferably traditional bank financing, launch additional products that can move the needle for our business, and position the company for a future uplisting to the NASDAQ or the NYSE , provided we are able to meet the listing criteria.”