This post first appeared on Micro Cap Daily
NightFood Hldg Inc (OTCMKTS: NGTF) is skyrocketing up the chart sin recent days after the Company’s ice cream won the 2019 Product of the Year award. As in past years, coverage is expected to include The Today Show, Extra, Women’s Day, The View, The Wall Street Journal, Fox & Friends, The Wendy Williams Show, People, Woman’s World, Parade, The Huffington Post, and countless regional outlets and trade publications.
NGTF has quickly attracted a fast growing shareholder base that has transformed the stock into a volume leader in recent days during which it has more than doubled.
NightFood Hldg Inc (OTCMKTS: 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.
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”. Munchies is currently preparing a patent application with the USPTO for a proprietary ingredient to be used in Half-Baked snacks that Management believes will give it a unique and defensible competitive advantage against other recreational edible brands. The Company believes tremendous opportunities currently exist to launch successful and legally compliant products in this space, and that such opportunities will continue to grow over time.
On February 11 NGTF received notification on Friday, February 8, 2019, that shares of its common stock have been approved for trading on the OTC Quote Board (OTCQB). Last week, the Company announced that wholly-owned subsidiary MJ Munchies had signed a Letter of Intent for a national cannabis edibles licensing agreement with Global Consortium, a manufacturer of over 140 SKU’s in the CBD and THC infused edibles space. Global reported over $600,000 in sales in the quarter ending September 30, 2018 and sold over $2,000,000 in CBD products for 2018.
In addition, on Friday, February 8, 2018, it was announced that Nightfood ice cream won the 2019 Product of the Year award for best new ice cream (as voted on by over 40,000 American consumers), on the eve of its national launch.
“We believe that being on the QB, instead of the Pinks, has advantages for the Company, as well as for existing and potential investors,” stated Nightfood CEO Sean Folkson.
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Many believe that companies listed on the OTCQB can enjoy greater liquidity due to increased transparency, more stringent reporting standards, management certification and more strict compliance requirements.
On February 8 NGTF announced it “sleep-friendly” Nightfood ice cream has been voted best new ice cream of 2019 in a survey of over 40,000 consumers. The annual Product of the Year survey, the world’s largest consumer-voted award for product innovation, is conducted by Kantar, a global leader in consumer research. In beating out the other finalists, consumers indicated that Nightfood’s one-of-a-kind innovation and unique value proposition made it a clear-cut winner in the ice cream space, and a brand they were highly motivated to try. Winning this prestigious award comes with numerous benefits which management expects will facilitate a rapid and successful national roll-out, making Nightfood(R) a breakout brand in 2019.
The Company recently announced product has already been shipped to fulfill purchase orders from its first major regional supermarket chain which can only be publicly identified after product is on-shelf later this month. In addition, a regional distribution relationship was announced last week with New England Ice Cream Corporation, which distributes to thousands of outlets across New England. Management expects additional distribution announcements to follow throughout the coming weeks and months, as a national retail presence is quickly established for this award-winning product line.
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Currently trading at a $25 million market valuation NGTF is one exciting stock that has been rocketing up the charts since the Company’s ice cream won the 2019 Product of the Year award. This awards means the company will receive significant media attention. NGTF has made multiple acquisitions and partnerships that has catapulted them into revenue projections surpassing some of the big boys and their First Quarter Fin’s will show this. We will be updating on NGTF when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with NGTF.
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Disclosure: we hold no position in NGTF either long or short and we have not been compensated for this article.
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This post first appeared on Micro Cap Daily