Nightfood Investor Call Recap: National Roll-out on Track, Profitability Projected for 2019 Q4, Dairy-Free and CBD Ice Cream in the Works
Tarrytown, NY, May 29, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Nightfood, Inc. (OTCQB: NGTF), the innovative ice cream company solving America’s $50 billion-dollar nighttime snacking problem, conducted a quarterly investor conference call yesterday, May 28, 2019.
On the call, Nightfood CEO Sean Folkson answered questions from Company shareholders and other interested parties.
Investor questions covered topics including initial sales velocity and the national rollout of Nightfood ice cream, the Nightfood influencer program, growth financing, the ice cream competitive landscape, company profitability targets, the research & development pipeline, and MJ Munchies and the Half-Baked brand of cannabis edibles.
When asked about distribution targets, Folkson commented “We are very much on track for our distribution goals. In fact, we project month over month revenue growth that will have us doing our first million dollar quarter this year, and also, I believe, our first three million dollar quarter this year, 2019.”
It was also revealed on the call that Management projects reaching profitability in the second half of 2019.
Folkson revealed that the Company is exploring CBD ice cream products, as well as adding additional flavors of the current Nightfood ice cream line, and plant-based non-dairy frozen dessert options. The timeline for release of any CBD products will depend on FDA regulation, but the additional flavors and non-dairy options are expected to be available later this year.
Responding to a question about Nightfood’s financing strategy, Folkson alluded to the possibility of an uplist to a major exchange such as the NASDAQ or the NYSE in conjunction with an equity capital raise. He stated, “Since an uplist is certainly in play if we execute over the next couple of quarters, the kind of equity cash infusion that comes with an uplist, that can also provide us, along with cash flow, with all the capital we need to successfully continue the national rollout.”
Within four months of manufacture of the first pint of Nightfood ice cream, the product was available in three of the top-50 supermarket chains in the United States. Management has publicly stated their goal to have secured distribution for Nightfood in 10,000 points of distribution by March 31, 2020.
A replay of the Nightfood Holdings May 28, 2019 Investor Call is now available at SmallCapVoice.com
About Nightfood Holdings:
Nightfood Holdings, Inc. (OTC: NGTF), owns Nightfood, Inc. and MJ Munchies, Inc.
On Feb 8, 2019, it was announced that Nightfood ice cream won the 2019 Product of the Year award in the ice cream category in a Kantar survey of over 40,000 consumers.
With the overwhelming majority of at-home ice cream consumption occurring in the hours before bed, Nightfood’s sleep-friendly nighttime ice cream, formulated by sleep and nutrition experts, delivers benefits found in no other product on the market.
Market research giant Mintel identified nighttime specific food and beverages as one of their most “compelling and category changing” trends for the coming years
Nightfood ice cream is rolling out nationally and has recently announced distribution in the popular Meijer supermarket chain throughout the Midwest, with concentration in the metropolitan areas of Chicago, Detroit, Indianapolis, Columbus, and Milwaukee, as well as Lowes Foods, with 78 stores in the Carolinas and Virginia.
To enter the Nightfood® Ice Cream Giveaway, where the Company is giving away a one-year supply of Nightfood ice cream, plus a brand-new freezer to store it in, visit http://nightfood.com
MJ Munchies, Inc. was formed in 2018 as a new, wholly owned subsidiary of Nightfood Holdings, Inc. to capitalize on legally compliant opportunities in the CBD and marijuana edibles and related spaces. The Company intends to market some of these new products under the brand name “Half-Baked”, for which they’ve successfully secured trademark rights.
Questions can be directed to investors@Nightfood.com
Forward Looking Statements:
This current press release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any products sold or cash flow from operations.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Released May 29, 2019