Subsequent Events

9 Months Ended

Sep. 30, 2017

Subsequent Events [Abstract]

Subsequent Events

14. Subsequent Events

The Company’s corporate headquarters, including its wholly owned Motherlode subsidiary, has moved to 1001 SE Water Avenue, Suite 390, Portland, Oregon 97214, effective November 1, 2017. Located in Portland’s Eastbank Commerce Center on the east side of Portland, this office space is the new home to the Company’s executive offices, including finance, accounting, sales and general management, both for Eastside and its Motherlode bottling and canning subsidiary. The Company’s production facilities in Milwaukie and its Big Bottom Distilling operations in Hillsboro are not affected by this relocation, but the Company has fully terminated the occupancy of its former MLK location.

On October 26, 2017, the Securities and Exchange Commission (the “SEC”) declared effective a Post-Effective Amendment No. 1 to Form S-1 on Form S-3 (the “Post-Effective Amendment”) that the Company filed with the SEC on October 19, 2017 to register the resale of up to 2,462,436 shares of common stock held by certain selling stockholders, which includes shares of common stock issuable upon exercise of warrants to purchase common stock held by certain selling stockholders (the “Selling Stockholder Warrants”). The selling stockholders will receive all of the proceeds from the sale of shares of common stock registered under the Post-Effective Amendment and the Company will not receive any proceeds from these sales. However, we may receive proceeds from the cash exercise of the Selling Stockholder Warrants, which, if exercised for cash with respect to all 1,123,516 shares, would result in gross proceeds to us of approximately $7,993,736. We intend to use any net proceeds from any exercise of the Selling Stockholder Warrants for operating costs, working capital, and general corporate purposes. The amount and timing of our actual use of proceeds may vary significantly depending upon numerous factors, including the actual amount of proceeds we receive and the timing of when we receive such proceeds. There is no guarantee that the Selling Stockholder Warrants will be exercised in full or at all.