News 
Market Data 
Discover
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Looks like $IVFH is breaking out of the sideways funk it's been in for 2-3 weeks.
Good to see big names coming to IVFH
Innovative Food Holdings Appoints Brady Smallwood as Chief Operating Officer
8:00 AM ET 5/17/23 | GlobeNewswire
Innovative Food Holdings Appoints Brady Smallwood as Chief Operating Officer
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8d24cc2e-c412-49b6-b465-581c28553c7b
BONITA SPRINGS, Fla., May 17, 2023 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (IVFH), a national seller of gourmet specialty foods to professional and home chefs today announced the hiring of Brady Smallwood as Chief Operating Officer. As Chief Operating Officer, Mr. Smallwood will develop, integrate, and oversee companywide strategies designed to maximize efficiencies and drive growth across all business categories.
"We are excited to welcome Brady to IVFH. His extensive experience developing and implementing profitable retail strategies at complex, multi-billion-dollar companies, including Kroger and Walmart, is complemented by his smaller company, eCommerce experience in the direct-to-consumer space. We believe Brady's skillset will help drive and execute our strategic objectives and deliver value to our shareholders," states Bill Bennett, CEO of Innovative Food Holdings. "As Brady and I have worked together in several capacities over the last decade, we have repeatedly focused on providing organizations with strategic structure and strong execution. I'm thrilled to welcome Brady to IVFH as we pursue the potentially incredible opportunities that lie ahead of the Company."
Mr. Smallwood was most recently Sr. Director -- eCommerce at The Kroger Co. In this role, he was responsible for the strategy, planning, and operations of Kroger's $10+ billion eCommerce business. He also led the recent launch and implementation of Kroger's rapid grocery delivery business. He joined Kroger from Walmart where he last served as Director -- Merchandise Operations leading multiple digital transformation initiatives. Mr. Smallwood's previous experience spans leading consumer, retail, and financial organizations including Younique Products, a former subsidiary of Coty, Inc., American Capital, and Freddie Mac. Mr. Smallwood received a bachelor's degree in Business Management from Brigham Young University and obtained a master's degree in Business Administration from The University of Chicago Booth School of Business, where he was an honors graduate and marketing scholarship recipient.
About Innovative Food Holdings, Inc.
At IVFH, we help make meals special. We provide access to foods that are hard to find, have a compelling story, or are on the forefront of food trends. Our gourmet foods marketplace connects the world's best artisan food makers with top professional chefs and passionate home chefs nationwide. We curate the assortment, experience, and tech enabled tools that help our professional and home chefs create unforgettable experiences for their guests and families. IVFH's owned online retail brands include www.igourmet.com, www.plantbelly.com and www.mouth.com.
Additional information is available at www.ivfh.com.
Forward-Looking Statements
This release contains certain forward-looking statements and information relating to Innovative Food Holdings, Inc. (the "Company") that are based on the current beliefs of the Company's management, as well as assumptions made by, and information currently available to, the Company. Such statements reflect the current views of the Company with respect to future events and are subject to certain assumptions, including those described in this release. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as "should," "could," "will," "anticipate," "believe," "intend," "plan," "might," "potentially" "targeting" or "expect." Additional factors that could also cause actual results to differ materially relate to the global COVID-19 crisis, international crisis, environmental and economic issues and other risk factors described in our public filings. The Company does not intend to update these forward-looking statements. The content of the websites referenced above are not incorporated herein.
names coming on board to
this company...
i would buy.....
if revenue is up above $22 million and expense is kept below $4.5 million,what is the odds of both hits? 25% chance and my powder is ready for action.
2 interesting and positive developments........................
a break from the last 4-5 years of shit show and silliness!
1. Selling, general, and administrative expenses:
Selling, general, and administrative expenses decreased by $677,692 or approximately 14% to $4,320,981 during the three months ended September 30, 2022 compared to $4,998,673 for the three months ended September 30, 2021. The decrease in selling, general, and administrative expenses was primarily due to a decrease in payroll and related costs in the amount of $301,946 and a decrease in advertising and digital marketing costs of $355,378. Other components of the decrease in sales, general, and administrative expenses include a decrease in computer and IT costs of $22,113; a decrease in professional and legal fees of $20,587, and a decrease in banking and credit card fees of $15,736; and a decrease in insurance costs of $7,092. These decreases were partially offset by an increase in travel and entertainment costs of $17,903, an increase in office & facilities costs of $16,432, and an increase in taxes of $11,124. The decrease in sales, general, and administrative expenses represent the results of our overall cost-cutting efforts as well as the restructuring of our marketing and advertising programs.
2. BOARD OBSERVER AGREEMENT
Effective November 28, 2022 the Company entered into a Board Observer Agreement with Denver J. Smith (the “Agreement”). Mr. Smith is part of a Schedule 13D group (the “Group”) which holds approximately 8.3% of our outstanding common stock. The Group had threatened a proxy contest, and to avoid expense and disruption associated with a proxy contest the company has signed the Agreement with the Group. The Agreement provides, among other things, that for up to six (6) months, with certain minor limitations, Mr. Smith will have observer status at all meetings held by our Board of Directors as well as meetings held by the various Committees of our Board of Directors. In addition, the Agreement provides for Mr. Smith to become a member of our Board of Directors on or before the six (6) month anniversary of the Agreement subject to fulfillment of the Board’s fiduciary responsibilities. The Agreement contains certain “standstill” provisions regarding proxy contests, Board membership and joining certain ownership groups. The Agreement is conditional upon the Group maintaining certain minimum ownership of our common stock as well as imposing duties of confidentiality and securities law compliance.
I am taking ivfh off my shit list and just may be I would invest in it after next ER.
|
Followers
|
146
|
Posters
|
|
|
Posts (Today)
|
0
|
Posts (Total)
|
19254
|
|
Created
|
01/17/05
|
Type
|
Free
|
| Moderators | |||
Business Summary |
|---|
| Details |
|---|
|
| Market Value | Not Available | |
| Shares Outstanding | 6.43 Mil | a/o Jun 13, 2013 |
| Float | 2.85 Mil | |
| Authorized Shares | 500 Mil |
