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Remember this was a pre-RS contrarian play.
I like to see >$5 soon.
My price here was below 30 cents.
What a stock.
Slow but trend is up.
Lucky $7 may be coming.
News out:
Hot Mama's Foods Announces New Ticker Symbol
New Ticker More Closely Matches Corporate Name
SPRINGFIELD, Mass., Sep 10, 2013 (BUSINESS WIRE) -- Hot Mama's Foods, Inc., ("the Company") (OTC:HOTF) a leading specialty food manufacturer, co-packer and private label resource for innovative organic, all-natural, and gourmet foods, which includes fresh hummus, salsas, and pestos sold under both its own label as well as for other leading food retailers, is pleased to announce that its ticker symbol has been changed to HOTF. The new ticker more closely matches the corporate name and makes it easier for investors to remember. The stock ticker symbol change coincides with the Company's August 6, 2013 announcement of the Company's merger with, and name change from Andover Medical, Inc. to Hot Mama's Foods as of that date. The Company is applying for a listing on the OTC Bulletin Board.
"Over the past year we have taken many steps towards enhancing the Company's image and positioning the company for continued growth. With our new Company stock ticker now joining our new company name, we can focus all our attention on moving forward and successfully growing the company," commented Matthew Morse, Chief Executive Officer.
ABOUT HOT MAMA'S FOODS
Hot Mama's Foods is a leading specialty food manufacturer, co-packer and private label resource for innovative organic, all-natural, and gourmet foods. The Company has proven expertise in developing and manufacturing top quality salsas, sauces, pesto, hummus, salads, dips, prepared deli salads, and many other gourmet foods. Hot Mama's Foods is one of the largest producers of hummus and salsa in the United States. The Company's products are USDA Certified, Certified Organic, and independently audited. Hot Mama's provides versatile, highly time-sensitive services to discerning food retailers, foodservice customers and food brokers nationwide. Hot Mama's Foods also develops, produces and sells fresh salsas, hummus and other fresh food products under its own label - Hot Mama's Foods. The Company has state-of-the-art production facilities in Springfield, MA and Elk Grove Village, IL.
Hot Mama's Foods was formed in Wendell, Massachusetts, in 1984 as a maker of a variety of fresh salsa recipes, distributed directly to small local retailers by its owner-operator. In 1991, the Company was purchased from its founder by Matthew Morse and maintained as a sole-proprietorship until its incorporation on January 29, 1999 under the name Lansal, Inc. under the laws of the Commonwealth of Massachusetts.
The Company has experienced rapid growth in recent years. Since 2008, revenue has increased slightly over 100%. In 2012 revenue increased 35.8% to $28.9 million. Growth has been driven by increased market penetration, additional product offerings, and, in part, by promotional and marketing efforts increasing awareness of the hummus category in particular. Additional information about the Company can be found at www.hotmamasfoods.com, and at the SEC's web site www.sec.gov.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein, are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
http://cts.businesswire.com/ct/CT?id=bwnews&sty=20130910005532r1&sid=cmtx6&distro=nx
SOURCE: Hot Mama's Foods, Inc.
CONTACT:
Hot Mama's Foods Matthew Morse, 413-737-6572 CEO or STRATEGIC ADVISOR: Strategic Universal Advisors, LLC Stan Altschuler, 212-838-1510 President
Copyright Business Wire 2013
-0-
KEYWORD: United States
North America
Massachusetts
INDUSTRY KEYWORD: Retail
Food/Beverage
Supermarket
Soon $2-$3 IMO.
Let the first news come to bring some volume.
VOLUME HERE = PPS RISE.
Noticed the ask rise to 1.75$ late this afternoon.
Next week should be news.
This can move very quickly, let see next week.
i see 1200 vol at 1.00 today
New symbol. No volume. No news.
Waiting for spice to kick in. No hot mama just yet.
symbol change tomorrow
13:32 9/6/2013 ADOVD HOTF Hot Mama's Foods, Inc. Common Stock
Very possible to hit $2 this week.
This can't be ihub buying.
IMO
.90 gone 1.00 back up someone buying
Supposed to get new symbol HOTF today.
PR very soon IMO.
whackers still here apparently
not many shares out there
Shares Outstanding 940,034 a/o Aug 06, 2013
People got their shares today. All time volume is 36 k shares so whackers are gone.
yep these small Rses are sometimes very nice
I remember you had APKN also.
This kind of opp comes seldom every year. Buying pre-split shares at a highly discounted price.
After we get new symbol HOTF I think they will start releasing their PRs.
yep its actually holding up pretty well considering
Must be non-ihub buying here.
Understandable pre-split buyers taking some profit.
finally got my shares today so i am sure others did. explains the dumb bid whacking
Getting close!!!!!!
On or about September 4, 2013, the new symbol will be HOTF. The Company is applying for a listing on the OTC Bulletin Board.
yep hopefully we get our shares by then
I think 5-10$ possible here here short term.
There is a delay in receiving pre split shares. We know why.
NITE bidding at $1.
Looking good.
Hoping for blockbuster news from Hotmamafoods.
Looking forward to Sep-Oct.
Little regretting not for buying more at 1 cent.
Nice. Will be interesting. Patience really pays off.
If PFHO can trade at $10.50 and rising, hotmamafoods should run >$5 at least with a whopping $29M annual rev.
Seems NITE is accumulating here at $0.75.
It will be very interesting to see how PPS shapes up toward end of 2013.
Interesting, someone dumped 2000 shares and ask went up to $2 with what looks like no volume.
Were people on bid yesterday?
940K only is what coming from ADOV common shares. 1M more from ADOV preferred shares.
Out of these 1.9M free float is only <100K from what I understand from 3 years trading pattern.
CEO and 2 other insiders own remaining of 21.5M O/S.
Q1 2013 alone their rev was amazing $7.3M.
So they may not need any financing. They should be completely operational from current rev and hugely profitable in the near future.
I expect a decent PPS rise here based on robust future free cash flow.
Extreme low float can propel stock price to beyond $5 if we get some volume.
Can't have a water cooler conversation with a otc stock with minuet volume. Perhaps good news is ahead.
Maybe some selling from old shareholders as well.
Positioned for growth. Look at revenues last year.
Hot Mama’s Foods Completes Reverse Merger Transaction
By Business Wire - 08/06/13 - 1:00 PM EDT
Hot Mama’s Foods, (“the Company”) a leading specialty food manufacturer, co-packer and private label resource for innovative organic, all-natural, and gourmet foods, which includes fresh hummus, salsas, and pestos sold under both its own label as well as for other leading food retailers, announced today that it has completed its reverse merger transaction with Andover Medical, Inc. (“Andover”). Hot Mama’s reported net revenues of $28.9 million, and $7.3 million for the year ended December 31, 2012 and the three months ended March 31, 2013, respectively. Commencing August 6, 2013, the Common Stock will be quoted on the OTC Markets under the symbol ADOVD and on or about September 4, 2013, the new symbol will be HOTF. The Company is applying for a listing on the OTC Bulletin Board.
The transaction leaves Hot Mama’s Foods current executive management team in place, which is comprised of Matthew Morse, Chief Executive Officer; Joseph D. Ward, President & Chief Operating Officer and William Kenealy, Chief Financial Officer.
"The successful completion of the merger represents a major milestone for Hot Mama’s Foods positioning the company for growth," commented Matthew Morse, Chief Executive Officer. "Being a public Company will enable us to continue to grow our business both organically and through acquisitions. I look forward to updating our shareholders on our progress and milestones in the future," concluded Mr. Morse.
Prior to the consummation of the Merger, Andover Medical was not engaged in any trade or business. Following the Merger, the business of Hot Mama’s Foods constitutes the Company's only operations and the shareholders of Hot Mama’s Foods own 91% of the equity of the Company on a fully-diluted basis. The $250,000 of escrowed funds was released by Andover to Hot Mama’s Foods and the parties remain subject to certain warranties and representations.
ADOVD wants to go higher than $1 without news.
Watch for news + wall street awareness.
Probably Ihub is not buying here.
Hummus is giving them lots of cash.
Buying was easy at 1C pre-split but selling is too hard now because PPS can shoot up any moment and then regret big time.
On my watchlist. Lets see about the news.
hey does Walmart sell hummus? what would that do to this share price with 940K shares outstanding?
'when Walmart speaks'? Hmm...
We should see good news soon.
Just 100K volume can cause a huge spike here.
JMO
Hot Mama's Foods
Article by Kathryn Jones
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The company is always looking for ‘the next big thing.’Knowing what’s hot before it even hits the market is a key chapter in the 25-year success story of Hot Mama’s Foods. The company was established in 1984 as an all-natural vegetable salsa business run out of founder Cheri Martinez’s Miller Falls, Mass., home kitchen. When President Matt Morse caught wind of the up-and-coming business, he immediately saw potential. “She was ahead of her time,” he says. “When I bought the company in 1991, she was making all-natural sandwiches sold locally, different flavored hummus and fresh, chunky salsa – mild, medium and hot – that’s homey and hardy, almost like a salad. Everything was strictly vegan across the board.”
An engineer by trade with a keen interest in the food business, Morse was looking for an opportunity and found it with Hot Mama’s Foods. After he acquired the company, he relocated to Amherst, Mass., and added black bean and pinto bean dip to its product portfolio. “I always thought I was a bit of an innovator in that I was getting into the idea of using ingredients like chipotle peppers at a time when nobody knew what they were,” he says.
Hummus exploded into a full-swing fad by 1994, but Hot Mama’s went in a different direction by offering organic hummus instead of the preservative-packed, mainstream version. In 1999, he acquired the Lazy Chef line of ready-to-use pesto sauces, which are now produced under the Hot Mama’s Gourmet line for foodservice clients and the Hot Mama’s Natural/Organic line for retailers. The company’s growth prompted Morse to relocate once more to Northampton, Mass. In 2002, he established operations in Chicago and started making pizzas, pizza bagels, flavored butters and spreads using fresh, natural and organic ingredients. In 2006, the company moved to Springfield, Mass., where it is still based today.
‘CUSTOM GOURMET SOLUTIONS’
When private labeling became a popular market in the mid-1990s, Morse took notice. “Right around 1996, I started getting involved in doing private labeling, which was around the time private labeling started getting big, so I jumped on that bandwagon,” he recalls. “Now, it makes up about 96 percent of our business.”
Hot Mama’s runs a full-service operation that includes research and development, food science, product development, food sourcing, packaging and labeling for its private label clients. Through contract packaging, the company signs a confidential agreement to manufacture products its clients have already developed. “But if they’re interested, we can always help them to expand their product lines,” Morse adds.
“A lot of our energy goes into developing other people’s brands,” he muses. “It’s not a glamorous way to go, but it happens to be a really good niche. I’ve found that there are so many business owners that really know how to sell their stuff that are looking to partner up with a good manufacturer. Every week, we’re developing tons of new products for existing customers and looking for opportunities with new customers.”
THE NEXT BIG THING
Hot Mama’s strives to keep its products as simple and all-natural as possible, but also understands this is not always achievable if customers request a 60-day shelf life. “I’ve been in the natural foods business for so long, I think the line between what’s really natural and what’s conventional has blurred a little bit,” Morse admits.
“At the end of the day, we have to take care of our customers, but I won’t make something I feel is something I wouldn’t want to eat or feed to my kids,” he adds.
The company has been looking into new technologies for shelf life extension without the use of preservatives. This can be achieved through a system that removes oxygen from dip, spread and salsa containers. In addition, Hot Mama’s is investing into plastic pouches as a way to replace plastic containers because they are more cost-effective and have a smaller plastic footprint, Morse notes.
“We try to keep things as green as we can,” he says. “We’re looking into buying biodegradable plastic containers, first and foremost, because it’s the right thing to do, just from a philosophical point of view.
“It’s also a good selling point. A lot of big companies have been looking for ways to be more sustainable or to have a greener image, and when Walmart speaks, people listen.”
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Hot Mama’s Foods Announces New Chief Financial Officer
September 18, 2013
Springfield, MA; September 18, 2013. Hot Mama’s Foods, Inc., (OTC: HOTF) a leading spe...
Hot Mama’s Foods Announces New Ticker Symbol
September 10, 2013
Springfield, MA; September 10, 2013. Hot Mama’s Foods, Inc., (“the Company”) (OTC...
Name of Beneficial Owner | Number of Shares Beneficially Owned | Percentage Beneficially Owned(1) | ||||||
Matthew Morse | 18,512,203 | 85.0 | % | |||||
Joseph D. Ward | 215,610 | 1 | % | |||||
Robert Seguso | 167,170 | * | ||||||
All officers and directors as a group (3 persons) | 18,894,983 | 87.6 | % |
1,940,494 | 9 | % | ||||||
19,620,547 | 91 | % | ||||||
21,561,041 |
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