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Recent NGTF CEO Post on Companies SM Site;
Sean Folkson, [Nov 30, 2023 at 8:55:07 PM]:
guys, there's plenty in the works.
I see people talking about things as thought Nightfood was dead. We're not. The opportunity remains as big as ever. The primary focus right now is on the acqusitions and DTC launch.
We're hiring specialized agencies because one individual (not me, or Simon, or most others) will have the skills and expertise required. It's the most cost effective way to go, especially considering we had months of gap from the time we were able to commit to the DTC initiative until we can launch. Paying people during that time would get expensive and we are working to preserve capital as we go here
We set out to solve a huge problem. Maybe we got starry-eyed when a Walmart or a global hotel company pitched us to do business with them, told us we had the next big thing, and made promises that weren't kept. So we move forward.
If I could change some things in the past, we would have done some things differently, including launching DTC cookies and other ambient snacks as early as possible after the ice cream launch. (I think Harry pointed that out)
A few of you mentioned how great the ice cream is, and I agree...but that's not enough to win in the supermarket freezers.
Here's a list of companies, big and small, that have had MASSIVE reductions in ice cream distribution in the most recent reports compared to a couple of years ago. Many are out of the ice cream business entirely now. After what happened with Walmart, I think pivoting out of supermarkets for us was the right move. (could be wrong, wouldn't be the first time).
Private label is up 33% from 2021. up huge are B&J, Haagen Dazs, Bryers, Blue Bell, Talenti, Tillamook, Blue Bunny (all 12-25%)
Down huge are
Halo Top
Rebel
Kind
FairLife
CoolHaus
Cheesecake Factory
Arctic Zero
So Delicious
Nada Moo
Peekaboo
Brave Robot
High Road
Ciao Bella
Double Rainbow
Re-Think
Planet Oat
Cado
Beckon
Killer Creamery
Some of these were darlings... SoDelicious is down from $85M in 2020 to $64M this year. Nada Moo went from $15M to $4M in the same time.
Halo Top from $191M to $122M in 3 years. Rebel down from $88M to $64M in same period. Arctic Zero from 6.2M to $3.4M
Cheesecake factory from 8.3M to $400K. Kind from 4.8M to $22,355. so that's 2 huge companies that toally left the space.
Fairlife this past year went from $9M to $2M.
To say that we needed to promote harder and we would have won is not something I agree with.
Many of these brands are owned by billion dollar companies.
To respond to what Daniel said, I do think we've learned a ton from what's gone wrong and what hasn't worked. The key lessons learned relate to messaging, and the avoidance of gatekeepers so that we can democratize who we sell to. the market for whate we're doing is huge but not concentrated. We weren't able to quickly enough build enough geographic demand concentration to support supermarket distribution. We sold well in hotels. Those procurement challenges are well-documented.
I believe our DTC launch will take all those lessons and allow us to succeed.
Does that guarantee we'll get everything correcet immediately out of the gate (or even get it all right at all)? no. Might DTC fail? yes.
But I continue to believe there's a billion dollar category out there. I don't think anybody here disagrees. So I keep working towards that.
Anybody thinking we're going to go under and/or run out of money, of course that's possible. But please consider that Mast Hill, to whom we owe approx $2M, just provided additional capital last month and again last week. As you can see from our filings, I have only been paid for 3 months this year (at $6K/month). And I put in $40K this year that won't get repaid until and unless Mast Hill is paid in full. That's not to complain, just to show everybody that my money (or lack of it) is where my mouth is.
Other than Simon, nobody else in the deck has left. Jerry is still with us, working on stuff for our filing as we speak, but not as CFO.
We're continuing to progress on the acquisitions, we expect financing to continue, and we expect DTC to allow us to put the category on the map.
I understand the frustration and the criticism, but those are my expectations, and that's what I'm working towards.
NT 10-Q
NT 10-Q
Letter to Shareholders;
Letter to Shareholders
Nightfood Postpones Investor Conference Call Previously Scheduled for Wednesday, November 1, 2023 at 4:30PM Eastern
Press Release | 11/01/2023
TARRYTOWN, NY, Nov. 01, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Nightfood Holdings, Inc. (OTCQB: NGTF), the company pioneering the sleep-friendly nighttime snack category, announced today that the investor conference call, scheduled for this afternoon at 4:30PM Eastern, has been temporarily postponed.
“We’ve been working diligently for several weeks on our acquisition of another company and were hoping to be able to announce it today,” disclosed Nightfood CEO Sean Folkson. “This is a complicated transaction with many moving parts, and it hit a delay this week. Up until this past hour, we were hoping to be able to announce today. Since we can’t discuss details today, we thought it best to postpone our call until such time as we can disclose and discuss.”
The Company plans to reschedule the call for the soonest practicable date and will share that information with investors via news release at the appropriate time.
The Company points out that there is no guarantee the transaction being contemplated will be consummated by any specific timeline and may not be consummated at all.
About Nightfood
Nightfood is pioneering the category of sleep-friendly nighttime snacks.
Over 80% of Americans snack regularly at night, resulting in an estimated 700 million nighttime snack occasions weekly, and an annual spend on night snacks of over $50 billion. The most popular choices are ice cream, cookies, chips, and candy. Recent research confirms such snacks, in addition to being generally unhealthy, can impair sleep, partly due to excess fat, sugar, and calories consumed before bed.
Nightfood’s sleep-friendly snacks are formulated by sleep and nutrition experts to contain less of those sleep-disruptive ingredients, along with a focus on ingredients and nutrients that research suggests can support nighttime relaxation and better sleep quality.
About MJ Munchies, Inc.
MJ Munchies, Inc. is a wholly-owned subsidiary of Nightfood Holdings, Inc. which exists to capitalize on legally compliant opportunities in the CBD and marijuana edibles and related spaces. Munchies has built an intellectual property portfolio that includes protections regarding the use of the “Half-Baked” mark in the State of California relating to certain cannabis-related products and the HalfBaked.com domain. On September 21, 2023, Munchies announced it had entered into an exclusive license agreement for the Half-Baked trademark with Houdini Group, a vertically integrated California-based cannabis company.
Questions can be directed to investors@Nightfood.com
By signing up at ir.nightfood.com, investors can receive updates of filings and news releases in their inbox.
Forward Looking Statements:
This current press release contains "forward-looking statements.” Statements in this press release which are not purely historical (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects” and “estimates”) are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, sales projections, potential customers, 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, (a) the inherent uncertainties associated with distribution of our products, (b) the market acceptance of our products at all levels of distribution and sale, including retail purchasers, wholesalers, hotel chains and possibly airlines, (c) the success and commitment of our distribution partners to access distribution channels and successfully engage with sellers of our products, including, supermarkets, hotel chains and possibly airlines, and our success in obtaining purchase orders from hotel chains, supermarkets and others, (d) competition from existing and new companies and products and (e) 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.
Media Contact:
Sean Folkson
sean@nightfood.com
888-888-6444, x4
Investor Contact:
Stuart Smith
investors@nigthfood.com
888-888-6444, x3
Nightfood Conference Wednesday, November 1, 2023 at 4:30 PM Eastern
This will be a telling week for NGTF investors........
Nestle & MJ Munchies Highlighted......2 weeks away.
Investor Conference Call Notification on Street Insider
IMO NGTF is highlighting both the update with the Nestle partnership and the new MJ Munchies agreement in the upcoming investor conference because there is POSITIVE NEWS.
We shall soon see people.
10-K - Bottom of page 4 sums it up......
"The final decision-makers are typically the local operators or management groups, who are generally less concerned with brand image and wellness than the brand managers and wellness executives at headquarters.'
"Brand Standard" at a GHC looks less and less likely........and growing hotel distribution appears painfully slow.
Nightfood now pushing cookie DTC.......
Bottom line is that NGTF needs a positive "update from Nestlé regarding next discussions and potential next steps together".
10-K is due by 10/20/23. Q4 Rev ~$30,000
Looks like the Q4 Revenue is approximately $30,000. Three times better than the previous two quarters suggesting some level of expansion or improved sales at current locations?
The 10-K needs to provide some extremely positive updates with either the size of the Best Western roll-out or the Nestle partnership or this could be the writing on the wall for NGTF?
NGTF files NT 10-K
The Registrant anticipates that there will be significant changes in the results of operations from the corresponding period for the last fiscal year. Revenues reported, net of slotting fees and promotion, is expected to have decreased from reported $443,558 for the fiscal year ended June 30, 2022 to approximately $135,000 for the fiscal year ended June 30, 2023. The statements for the fiscal year ended June 30, 2023 are continuing to be finalized and may change.
Q4 2023 revenue is 3 X the revenue of Q3 2023.
Sales appear to be building in the vertical - but not fast enough IMO
Nightfood Sleep-Friendly Snacks Coming Soon to Select BWH Hotels Properties in the U.S.
Select BWH Hotels Properties
Fourth Man drip feeding NGTF with capital.....
8-K 09/07/2023
Huh?!?.....Nestlé pushing for Less Sugar and increased Prebiotic Fibers.
Less sugar More Fiber
Remember the 2022 Nestlé and Nova SBE 4th edition of the Open Innovation START and CO?
Here are some facts;
1. Nestlé and Nova SBE 4th edition of the Open Innovation START and CO. 2022 program had one of the highest participation levels since its creation, with circa 80 applications from which 48 startups are from 23 different countries.
2. Although at first 80 proposals were received to participate, in the end 48 start-ups from 23 different countries were able to present their projects to Nestlé executives.
3. Only 4 were chosen to be part of the matchmaking initiative. Spanish Startup Shoppermotion (development of a technology that provides analysis and real-time data on the daily behavior of customers), Korean 10pple (technology to predict and prevent obesity in pets), Little One (Unable to find information on this company) and of course United States Nightfood #NGTF Sleep-Friendly Snacking company with less sugar and added fiber
Results
Nestlé does not waste time and resources......
CEO confirms via the companies SM page that Nestlé and Nightfood continue to work with TAP to gather data on Sleep-Friendly snacking.
If (and maybe it is a big IF) Nestlé decides to "take a bite of Nightfood" we may all loose sleep of not buying shares at these prices.
Just saying?
Nightfood website now showing Quad Packs are once again available for order......interesting.
NGTF Investor Conference Call - 3 NEW GHC's
Based on the share price you can easily conclude that Investor Confidence is at an extremely low point.
However the CEO did mention 3 additional GHC's are in discussions with #NGTF
Folkson has been "knocked down" a couple of times this year alone......but IMO he is still fighting to secure additional placement.
Maybe an 8-K this week on the latest GHC?
And that is why they call it a "white space"
I was recently chatting with the retired US President of Sales at Mondelez International.
When I asked him what his greatest success was during his time at the company?
He said that the company identified a white space in the breakfast market - the need for a breakfast cookie that was easy to grab and take on the run and yet contained everything you needed to start your day.
Belvita Cookies apparently has over $300 M in sales.....go figure?
Not sure you can ignore the R&D that went into launching GoodNight Chocolate, Driftwell and Sweet Dreams?
Nightfoods attempt to launch sleep-friendly products via the hotel vertical has IMO reached a 3-2 count.
Nightfood Is Pioneering The Monetization Of $50 Billion Sleep-Friendly Nighttime Snack Category ($NGTF)
Here's a story that investors didn't see coming. A tiny company called Nightfood Holdings (OTCQB: NGTF) is pioneering a sleep-friendly nighttime snack market solving a $50 billion consumer problem. But for all intents and purposes, that's okay. Priced at roughly $0.05 a share, there is still an opportunity to take advantage of this innovative and fast-growing company at ground-floor prices.
Still, that window could close quickly. Why? Because Nightfood isn't targeting the existing "snack" sector, they are creating a new market by marketing a line of sleep-friendly nighttime snack foods that has been effectively competing against brand behemoths like Ben & Jerrys, Haagen Dazs. But here's the catch. While NGTF may sell tasty ice cream and cookies, they do it differently. More specifically, they sell products formulated by sleep and nutrition experts to be healthier options to meet the late-night calorie binge most consumers know all too well.
And the better news is that Nightfood isn't asking people to give up this late-night consumption. In fact, they accept people will continue snacking and recognize that healthier options exist. And not only from a calorie perspective. Nightfood is educating consumers that high-sugar, high-fat, and high-calorie snacks, when eaten before bed, can directly impair sleep quality. And many are listening, including some of the largest hotel companies in the world.
Want to read more;
Complete Article
Nestle & other major food manufacturers tap into consumer trends shaping demand.
There are some who question how significant "Big Food’s incubator and accelerator programmes" really are to startup companies?
Maybe take a read of this recent article on hatching new ideas;
Hatching new ideas – Big Food’s incubator and accelerator programmes
Based on the current share price, it is my opinion, that Nestlé's interest in Nightfood has been almost ignored by the shareholders
Shareholders should perhaps take into consideration that;
1. Nightfood was selected as one of 4 finalists in the 4th edition of the Nestle Open Innovation START and CO. 2022 program.
2. Nightfood was the ONLY food company - which is interesting because the 2022 program had "a prominent focus on digital projects".
3. Nightfood already has product to market and therefore Nestlé is looking at acceleration rather than incubation.
The article below confirms that there were 4 winners in last years competition;
Nestlé will innovate in digital projects with the Spanish start-up Shoppermotion and the Korean 10pple
Here are a few comments from Nestlé executives and directors and executive director of Nova SBE regarding the program;
From the first article;
Mark Schneider, Nestlé’s CEO, states “Innovation in milk products and plant-based dairy alternatives is core to Nestlé’s portfolio strategy, as well as our sustainability agenda. As a company, we have set ambitious climate goals. This is part of our promise to develop products that are good for you and good for the planet.”
From the second article;
Andreia Vaz, director of Innovation and Digital Transformation of Nestlé Spain and Portugal states, "Nestlé Start and CO is an open innovation program, already consolidated in Portugal, but which is carried out for the first time jointly with Spain, and which has been capable of offering the market truly disruptive solutions that allow consumers to better adapt their food choices to healthier and more balanced lifestyles
Rui Coutinho, executive director of Nova SBE Innovation Ecosystem states “this year we have had the opportunity to meet several start-ups with an advanced level of maturity that have surprised us with innovative solutions that make sense to explore
After taking all of the above into consideration, it should be of no surprise that on page 37 of the most recent NGTF 10-Q it states that Nestlé continues to show strong interest in consumer response;
"To be able to gather a larger sample of consumer feedback from a greater percentage of passengers, TAP will begin using the in-flight entertainment system (IFE) on each flight to solicit and collect traveler survey responses. This is being done as part of our partnership with TAP and Nestlé at zero cost to Nightfood other than the minimal cost invested to produce a short, animated video explaining the survey to airline passengers.".
Big question now is will Nestlé take a nibble of NGTF?
Are you sure about that?
pregnancy-and-ice-cream
Is Nestlé planning to take a nibble of Nightfood?
Nestlé appears to be extremely interested in gathering the consumer data on the sleep-friendly cookies.
Per the recent 10-Q the initial amenity test on TAP did not provide enough consumer feedback (something anticipated before the trial started) it was decided that in order to gather the feedback that TAP would alllow Nestlé and Nightfood to place a short animated video on the in-flight entertainment system.
Seems like a lot of trouble to go unless you are VERY INTERESTED in what NIghtfood doing?
Quotes from 4 years ago?!?
LMAO!!!!
Hotel - Focus on 2 Flavors per last 10-K;
Page 30
Our Products
“Nightfood ice cream has been produced in nine flavors. These are Full Moon Vanilla, Midnight Chocolate, Cold Brew Decaf, After Dinner Mint Chip, Milk & Cookie Dough, Cherry Eclipse, Bed and Breakfast, Cookies n’ Dreams, and Pickles For Two.
The Company is currently focused on two of those flavors, Midnight Chocolate and Cookies n’ Dreams, which are the two flavors in national hotel distribution.
Pickles for Two has been discontinued, and the other 6 flavors are not scheduled for additional production in the short term. Management anticipates bringing some or all of those flavors back into production in the future, if and when Nightfood ice cream pints are reintroduced into supermarket distribution. Until such time, existing inventory of those flavors will be sold off via Company website, and perhaps future appearances on QVC and other potential outlets.”
Looks like NGTF does NOT have a signed contract….YET!
Per CEO comments on company SM media site;
“Daniel this is a valid question…
Should the hotel move forward the expectation is that mass production would not start until we had a contract in place. Same with the airlines.
It’s not like a supermarket where you may need to commit to six figures in slotting fees, plus production, plus being able to cover advertising and trade promo expenses.”
The upcoming press release from Nightfood will be substantial.
Get ready for the Choice Hotel Amenity PR.......
Booth 214 would LOVE to see your "friends".
Cookies, Cookies and MORE Cookies.
How many people will be receiving a free Nightfood cookie this week in Las Vegas?
Will there be a "domino falling" amenity cookie PR this week?
NIghtfood CEO has a HUGE week this week........
Hotels >>>>>>Walmart.
IMO Mast Hill LLC will make a killing when the shares they just bought for $0.05 hit $0.50 after a CPG decides to take a nibble at NGTF.
I will take some small dilution for additional capital and a vote of confidence over another loan anyway.
Next week may bring some VERY interesting news for Nightfood investors.