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Komo Expands Across Canada with Whole Foods Market
Vancouver, British Columbia--(Newsfile Corp. - February 9, 2023) - Komo Plant Based Foods Inc. (CSE: YUM) (OTCQB: KOMOF) (FSE: 9HB0) (the "Company", "Komo"), a premium plant-based food company, reports planned expansion across Canada with Whole Foods Market.
Komo Plant Based Foods Inc., a fast growing plant-based food products manufacturer, announces today that it will be expanding its presence in Canada through additional distribution at Whole Foods Markets. Komo's line of frozen meals and meal helpers will now be available in all 14 Whole Foods Market locations in Canada, with the newly expanded listings to be on shelves by May of 2023.
Whole Foods West will be expanding their line of Komo frozen foods from 3 SKUs to 5 SKUs in western Canada and Whole Foods Ontario will be carrying all 5 SKUs, including Komo's 2 serve Lasagna, 2 serve Shepherds Pie, 2 serve Mac & Greens, as well as Komo's line of Meal Helpers: BBQ Mushroom Lentil Taco Filling and Walnut Mushroom Bolognese.
"We're thrilled that Whole Foods Market is adding more Komo products to their selection and continues to support Komo's efforts to bring convenience and high quality plant-based meals to our shared end-consumer," says William White, CEO of Komo. "Our goal has always been to make plant-based eating accessible to everyone, and this expansion into Whole Foods nationally takes us one step closer to achieving that goal"
About Komo
Komo Plant Based Foods is a premium plant-based food company that develops, manufactures and sells a variety of plant-based frozen meals that are always hearty, satisfying and made with wholesome ingredients. Komo's mission is to help make plant-based meals a staple on every dinner table by sharing the company's love for feel-good food that connects the people to the planet. The company believes plant-based eating is the future and that "Change can start with a single bite." The company's experienced plant-based innovation and development team recreates vegan versions of traditionally cheesy and meaty classics, with 100 per cent plants. Komo's 9 products are sold direct-to-consumer through the company's e-commerce website, and a distribution network of on-line and brick and mortar grocery, convenience and natural retailer channels. The company launched in 2021 with the company's flagship products: plant-based lasagna, shepherd's pie and chickenless pot pie, and Komo Plant-Based Meal Helpers -- versatile meal starters to allow the creation of many dishes at home. Komo's newest product is Mac & Greens. All of the company's products are 100-per-cent plant-based, made with wholesome ingredients, free from preservatives and frozen for freshness. Freezing products is a natural and effective way of keeping food products for longer without having to use any preservatives. Komo's meals have an 18-month frozen shelf life. Komo's products are now available in over 840 retail locations across Canada.
Learn more at: www.komocomfortfoods.com and follow on Instagram: @komocomfortfoods For further information, please contact:
William White,
Komo Doubles Retail Distribution to 840 Stores
C.YUM | 1 hour ago
Vancouver, British Columbia--(Newsfile Corp. - February 6, 2023) - Komo Plant Based Foods Inc. (CSE: YUM) (OTCQB:KOMOF) (FSE: 9HB0) (the "Company", "Komo"), a premium plant-based food company, reports significant growth in the number of retail stores carrying Komo products with an increase of over 100% in 3 months.
Komo Plant Based Foods Inc., a fast-growing plant-based food products manufacturer, announces a 100% increase in retail distribution since November of 2022, now available in 840 grocery retail locations across Canada. This impressive growth includes Loblaw's and Loblaws' banner stores and the addition of 50 new retail stores in January 2023, including Georgia Main Group (IGA West and Fresh St. Market), Sobey's West, Safeway and Freson Brothers locations in western Canada, and key natural accounts such as Boites à Grain in Quebec.
"Our focus has always been to provide high-quality, delicious plant-based meals and this growth in distribution demonstrates that more and more people are not only choosing our products as part of their diet but repeat purchases in national accounts such as Loblaw's banners continue to prove that families are welcoming Komo into their lives on weekly, and sometimes daily, basis," says William White, CEO of Komo. "We believe that convenient and wholesome plant-based food is the future of sustainable and healthy eating, and we are committed to making our products more accessible and convenient for consumers. We look forward to continued growth and expanding our reach in the coming months."
The plant-based foods market could make up to 7.7% of the global protein market by 2030, with a value of over $162 billion, up from $29.4 billion in 2020, according to a new report by Bloomberg Intelligence (BI). The report Plant-Based Foods Poised for Explosive Growth identifies growth locations for the plant-based foods market through 2030, as a global animal and dairy protein demand is poised to reach $1.2 trillion by then.
We're at $.25, no run for the exits, only 20K on the ask. Those might look like a bargain down the road!
I emailed investor relations for what it's worth. I think they needed the cash to fuel their expansion. No surprise. If that's indeed what it's being used for I feel like we're going to feel some short term pain for long term gain. If they're successful and they expand into the US and continue growing this stock could absolutely fly down the road with either 9M or 16M shares total once they're profitable. I'm holding my 20,000 shares.
The company is doing great and on track to bring in record revenues. We are targeting profitability by this spring! (But we will need to complete a small capital raise to get there) as you have probably seen from our most recent set of financials released we are decreasing debt and quarterly losses and increasing revenue. We are hopeful that the roll back will hold its value and bring in new investors as the company continues with its operational successes.
KOMO ANNOUNCES 10:1 CONSOLIDATION
Vancouver, B.C. – January 25, 2023: Komo Plant Based Foods Inc. (CSE: YUM)
(OTCQB: KOMOF) (FSE: 9HB0) ( the “Company”, “Komo”), a premium plant-based
food company, announces that, effective at the opening of trading on January 30, 2023 (the
"Effective Date") the common shares of the Company (the "Common Shares") will
commence trading on the Canadian Securities Exchange on a consolidated basis, with one
(1) post-consolidated Common Share outstanding for every ten (10) pre-consolidated
Common Shares (the "Consolidation"). The Company's name and trading symbol will
remain unchanged.
As a result of the Consolidation, on the Effective Date, a total of approximately 9,709,102
Common Shares will be issued and outstanding, subject to adjustments for rounding, with
approximately 7,276,992 Common Shares reserved for issuance. No fractional Common
Shares will be issued, and any post-consolidated fraction of a Common Share will be
rounded to the nearest whole number of Common Shares. The name of the Company has
not been changed, and the trading symbol remains as "YUM". A new CUSIP number has
been issued for the post-consolidated Common Shares, being 50046B205.
The exercise or conversion price and the number of Common Shares issuable under any of
the Company's outstanding convertible instruments will be proportionately adjusted upon
the effectiveness of the Consolidation. In accordance with the Company’s Articles, the
Consolidation does not require shareholder approval.
Shareholders of record as of the Effective Date who hold Common Shares represented by a
DRS (direct registration system) statement will receive an updated DRS statement from the
transfer agent for the Company, Endeavor Trust Corporation, representing Common Shares
on a post-Consolidation basis.
The Consolidation is subject to the acceptance of the Canadian Securities Exchange
https://pro.ceo.ca/@newsfile/komo-reports-q1-financial-results
by @newsfile on 29 Dec 2022, 20:42
Komo Reports Q1 Financial Results
Vancouver, British Columbia--(Newsfile Corp. - December 29, 2022) - Komo Plant Based Foods Inc. (CSE: YUM) (OTCQB: KOMOF) (FSE: 9HB0) ( the "Company", "Komo"), a premium plant-based food company, reports financial results for the quarterly period ended October 31, 2022.
FINANCIAL RESULTS
During the quarter ended October 31, 2022, Komo grew its revenue to $178,290, which is an increase of 89% as compared to the same period of the prior year. Revenue growth was driven by greater market presence through wholesales distributions. Wholesale revenue growth was 203% and accounted for 90% of total revenue. Direct to consumer (DTC) sales declined by 57% and accounted for 10% of total revenue.
Komo increased the number of Canadian distributors from 7 to 8 in the quarter. Komo currently has approximately 790 distribution points, defined as the number of retail locations that carry Komo products, representing an increase of 64% as compared to July 31, 2022.
Komo's gross profit margin for the three months ended October 31, 2022 was 39% which is consistent with management expectations, as compared to 35% in the same period of the prior year. The increase in gross margin was primarily driven by increased efficiency with higher production volume.
Komo incurred a net loss of $243,640 for the three months ended October 31, 2022, as compared to $1,778,371 in the same period of the prior year. The decrease in net loss was primarily driven by an increase in sales and gross margin and a decrease in operating expenses. Loss per share, basic and diluted, was nil for the three months ended October 31, 2022 as compared to $0.02 per share of the same period of the prior year.
Advertising and promotion expenses were $32,689 in the quarter, as compared to $617,506 in the same quarter of the prior year.
OUTLOOK
In the next 12 months, Komo plans to continue to strengthen its sales channels and strategy, and onboard new distributors and brokers to expand its presence across Canada and USA. Komo aims to grow its distribution network to reach over 1,000 retail stores in 2023.
Komo plans to increasingly emphasize a wholesale distribution focused business model to speed up its growth in sales, to simplify distribution operations, and to save operating costs.
SUMMARY OF QUARTERLY RESULTS
Komo launched its plant-based foods business in March 2021. The following is a summary of Komo's most recently completed quarterly periods:
October 31,
2022 July 31,
2022 April 30,
2022 January 31,
2022
$ $ $ $
Revenue 178,290 176,536 213,405 166,052
Net loss from continuing operations (243,640) (905,074) (797,486) (1,121,872)
Basic and diluted loss per share from continuing operations (0.00) (0.01) (0.01) (0.01)
October 31,
2021 July 31,
2021 April 30,
2021 January 31,
2021
$ $ $ $
Revenue 94,256 44,940 16,029 -
Net loss from continuing operations (1,778,371) (5,581,069) (376,606) (358,789)
Basic and diluted loss per share from continuing operations (0.02) (0.07) (0.01) (0.01)
LIQUIDITY
The following information relates to Komo for Q1 2023 and fiscal 2022:
October 31,
2022 July 31,
2022
Current ratio(1) 0.7 0.9
Cash $ 46,840 $ 224,344
Working capital deficiency(2) $ (232,997 ) $ (86,047 )
Long Term Debt(3) $ 1,309,161 $ 1,243,256
Shareholders' equity (deficit) $ (1,485,579 ) $ (1,269,190 )
(1) Current ratio is current assets divided by current liabilities.
(2) Working capital is current assets minus current liabilities.
(3) Long Term Debt consists of convertible debentures and Canada Emergency Business Account interest-free loans.
The management's discussion and analysis for the period and the accompanying consolidated financial statements and notes are available under the Company's profile on SEDAR.
About Komo
Komo Plant Based Foods is a premium plant-based food company that develops, manufactures and sells a variety of plant-based frozen meals that are always hearty, satisfying and made with wholesome ingredients. At Komo, the company's mission is to help make plant-based meals a staple on every dinner table by sharing the company's love for feel-good food that connects the people to the planet. The company believes plant-based eating is the future and that "Change can start with a single bite." The company's experienced plant-based innovation and development team recreates vegan versions of traditionally cheesy and meaty classics, with 100 per cent plants. Komo's products are sold direct-to-consumer through the company's e-commerce website, and a distribution network of on-line and brick and mortar grocery, convenience and natural retailer channels. The company's operating subsidiary, Komo Comfort Foods, launched in 2021 with the company's flagship products: plant-based lasagna, shepherd's pie and chickenless pot pie, and Komo Plant-Based Meal Helpers -- versatile meal starters to allow the creation of many dishes at home. Komo's newest product is Mac & Greens. All of the company's products are 100-per-cent plant-based, made with wholesome ingredients, free from preservatives and frozen for freshness. Freezing products is a natural and effective way of keeping food products for longer without having to use any preservatives. Komo's meals have an 18-month frozen shelf life.
Learn more at: www.komocomfortfoods.com and follow on Instagram: @komocomfortfoods For further information, please contact:
William White, President & CEO, Komo Plant Based Foods Inc.
will@komoeats.com
+1 (236) 8000-YUM / (236) 800-0986
I added 200k yesterday and now own half a million shares
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