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NEXE COFFEE
NEXE Innovations Announces Financial Results for the Twelve-Month Period Ended May 31, 2023
NEXE Closes Out a Successful Year Having Moved Into Production and the Next Phase of Operations
Vancouver, B.C.- September 28, 2023 – NEXE Innovations Inc. (“NEXE” or the “Company”) (TSX.V: NEXE) (Frankfurt: NX5) (OTC: NEXNF), a compostable and innovative materials company, is pleased to announce its financial results for the twelve-month and three-month period ended May 31, 2023 (“Q4 2023”).
Fiscal 2023 was a pivotal year for NEXE Innovations, with several key accomplishments. The Company has transitioned into production and, subsequent to year-end, as previously announced, has onboarded three co-manufacturing customers – a key segment for NEXE.
2023 Accomplishments:
During the year, NEXE completed building its Windsor Facility and transitioned to an in-house, end-to-end manufacturing process where the new facility is equipped for compounding resin, injection molding key components of NEXE’s proprietary, single-serve beverage pods, and dosing and sealing the pods for commercialization. The Company received its occupancy permit, installed and tested key equipment, and started to build out the operations team in March 2023. By the end of July, the Windsor Facility was fully commissioned to produce food-grade components for its proprietary single-serve beverage pods, hired key personnel, and the Company moved into production.
NEXE successfully met the stringent testing requirements for certification from the Biodegradable Products Institute (BPI) for its fully compostable, single-serve beverage pod and associated components at the end of June 2023. The BPI certification is a third-party verification of ASTM D6400 and D6868 standards for compostable products. Being awarded the BPI certification means the product has undergone a rigorous testing process, confirming that the company has met the ASTM compostable standards. The BPI certification is not required to sell our products but does assure customers that NEXE’s products are environmentally friendly and comply with the stringent rules established by BPI.
Since the beginning of August, NEXE has onboarded three co-manufacturing clients: Awaken Brands Ventures Ltd., Neighborhood Coffee Company, and Rooted Grounds Coffee Company. The interest surrounding NEXE’s proprietary BPI-certified pod continues to gain momentum, and NEXE continues to advance discussions to drive private label and co-manufacturing opportunities. We expect production will continue to ramp up over the next several months. NEXE’s goal is to build a strong base of recurring revenues.
NEXE completed transitioning its retail brand NEXE Coffee to the BPI-certified, single-serve pod. The retail brand of NEXE will be produced in Windsor, Ontario and is available for purchase at www.nexecoffee.com. All operations are now consolidated at the Windsor Facility, and NEXE is selling its Surrey, B.C. facility.
Fiscal 2023 Results:
For the year ended May 31, 2023, the Company recorded a net loss of $6,137,065 or $0.06 per share, compared to a net loss of $8,339,913, or $0.09 per share, for the twelve months ended May 31, 2022.
Revenues increased to $49,758 (2022 – $26,986) and largely represents the sale of the previous version of the NEXE Pod that was composite based. NEXE has transitioned from producing composite pods to the proprietary, BPI certified single-serve pod. The Company has onboarded three clients and is working through the sales pipeline focusing on private label and co-manufacturing opportunities. For Q1 2024 revenues are expected to come in higher than total revenues in fiscal 2023. The Q1 2024 quarter will reflect only one month of revenue generation.
Selling, General & Administrative expenses decreased to $4,453,682 (2022 – $6,201,830) primarily due to lower marketing, consulting, and professional fees. NEXE also decreased salaries and management fee expenses. This is the third year of such decrease as the Company continues to maintain a disciplined approach to managing expenses. Expenses were also impacted by one-time costs related to establishing the Windsor Facility and going forward, expenses will benefit from operations being consolidated to one location.
Depreciation increased to $987,551 (2022 – $672,830) due to additional equipment purchased. Capital expenditures were $3.3 million, down from $8.8 million in fiscal 2022. Going forward, we expect capital expenditures to remain within a similar range as fiscal 2023.
The Company recorded a non-cash interest expense of $257,459 (2022 – $309,167) related to the accretion of interest associated with the interest free Government loan from the Western Innovation program.
Research and development expenses decreased to $380,089 (2022 – $336,460) as NEXE continues to invest in product development to stay ahead of the curve.
Outlook and Financial Position
We believe the fundamentals for the business remain strong and are supported by macro trends. In North America, the government is enacting different regulations and providing incentives to move away from petroleum-based products. We continue to see consumers moving towards sustainable options to help improve the environment and the growing concern around the health impact of plastics on the human body. The BPI certification that was granted for NEXE’s single-serve pod and associated components requires products to be free of per- and poly-fluoroalkyl substances (PFAS) reflecting general concerns about the impact of PFAS.
Management believes that significant investments will be needed to meet the changing industry requirements and increase in potential demand. With the expertise gained by the team in onshore manufacturing over the last few years, management believes NEXE will be competitively positioned to replicate and expand its operational capabilities into the U.S.
The Company has a valuable portfolio of assets, technology and comprehensive IP. The Company has moved into revenue generation mode with its new production facility and management believes it is competitively positioned to leverage the trends in the green economy. The strategic decision to transition to an entirely in-house model, away from third-party suppliers, has allowed the Company to develop a price-competitive single-serve pod that can compete against other compostable products and the plastic alternative.
At the end of fiscal 2023, NEXE had working capital of $23.0 million, no debt, and with the expected proceeds from the Surrey Facility sale, management believes it is well-funded to weather the current market volatility. In addition, NEXE amended its warrants such that the exercise price was revised from $2.50 to $0.65 per share, and the expiry date was extended from April 9, 2023, to April 9, 2024. If all outstanding warrants are exercised, the proceeds from the warrants could amount to $5.6 million.
The Company’s Q4 2023 financial statements and related management’s discussion and analysis are available on NEXE’s SEDAR profile at www.sedar.com and the Company’s website at www.nexeinnovations.com.
*NEXE Innovations Inc. is not affiliated with, endorsed, or sponsored by Keurig®. Keurig® is a registered trademark of Keurig Dr Pepper Inc.
**NEXE Innovations Inc. is not affiliated with, endorsed, or sponsored by Nespresso®. Nespresso® is a registered trademark of Société des Produits Nestlé S.A
About NEXE Innovations Inc.
NEXE Innovations Inc. is a leader in innovative compostable materials technology based in Ontario, Canada. The first product developed by NEXE Innovations is one of the only patented, fully-compostable, single-serve coffee pods for use in existing major single-serve coffee machines.
For more information about NEXE’s compostable materials and how it is well-positioned to meet the growing demand for environmentally friendly and sustainable products, visit www.nexeinnovations.com and follow us on social media @nexeinnovations.
NEXE Innovations Has Produced its Proprietary Single-Serve Pods for U.S. Based Rooted Grounds Coffee Company
Interest continues to grow for NEXE’s proprietary BPI-certified, single-serve pods to deliver exceptional coffee experience without compromising our planet’s well-being
Vancouver, B.C.- September 28, 2023 - NEXE Innovations Inc. ("NEXE" or the "Company") (TSX.V: NEXE) (Frankfurt: NX5) (OTC: NEXNF), a compostable and innovative materials company, is pleased to announce that it has onboarded and produced product for U.S. based Rooted Grounds Coffee, its third co-manufacturing customer for the Biodegradable Products Institute (BPI)-certified compostable, single-serve coffee pods. NEXE has also completed shipping product to Neighborhood Coffee – one of it's previously announced partnerships. Since moving into production, NEXE has onboarded three co-manufacturing customers including Rooted Grounds Coffee Company and Neighborhood Coffee. Management believes the interest surrounding NEXE's proprietary compostable single-serve pod continues to gain momentum, and NEXE continues to advance discussions to drive private label and co-manufacturing opportunities.
"This is an exciting period for NEXE as interest grows for our proprietary NEXE Pod. We continue to build our operations in Windsor as we are engaged in several active discussions with local artisanal brands and larger coffee companies,” stated Ash Guglani, President of NEXE Innovations.
NEXE has also completed transitioning its own retail brand, NEXE Coffee to the BPI-certified compostable, single-serve coffee pods. NEXE’s own retail brand is now being produced at it's Windsor, Ontario facility that utilizes the end-to-end manufacturing process. The retail brand is available at www.nexecoffee.com.
NEXE Innovations Announces Collaboration with Neighborhood Coffee Company and Completes Second Delivery to Awaken Brands
Production of NEXE’s proprietary compostable, single-serve pods continues to ramp up at the Windsor Facility as onboarding of new customers continues
Vancouver, B.C.- September 6, 2023 - NEXE Innovations Inc. ("NEXE" or the "Company") (TSX.V: NEXE) (Frankfurt: NX5) (OTC: NEXNF), a compostable and innovative materials company, proudly announces that it is currently fulfilling a purchase order from Neighborhood Coffee Company and has made a second delivery of its Biodegradable Products Institute (BPI) certified compostable, single-serve coffee pods to Awaken Brands Ventures Ltd for their “ecobeans” product line.
NEXE's Windsor Facility is ramping up the production of their BPI certified compostable pods. By collaborating with premium artisanal roasters like Neighbourhood Coffee Company and securing orders from forward thinking companies like Awaken Brands Ventures Ltd, NEXE believes it is building a solid base of recurring revenues. NEXE continues to advance discussions with other coffee roasters to drive private label opportunities.
"We believe the positive reception is undeniable, paving the way for a stronger base of recurring revenues. No longer do consumers need to choose between convenience and the environment while enjoying a superior coffee experience," stated Ash Guglani, President of NEXE Innovations.
NEXE Innovations Breaks New Ground with First Delivery of BPI Compostable Coffee Pods to U.S. Customer
Launching a new era of sustainable coffee consumption as part of a partnership with Awaken Brands Ventures Ltd. targeting the U.S. Office Coffee Services Market
Vancouver, B.C.- August 2, 2023 - NEXE Innovations Inc. ("NEXE" or the "Company") (TSX.V: NEXE) (Frankfurt: NX5) (OTC: NEXNF), a compostable and innovative materials company, proudly announces its first delivery of its BPI certified compostable, single-serve coffee pods to Awaken Brands Ventures Ltd. The delivery marks a significant step in NEXE’s drive to disrupt coffee consumption with a more sustainable option. Compostable pods account for a small piece of the 80+ billion total pods market, which is expected to grow by over 33% by 2028. NEXE believes it is competitively positioned to capture market share of the large and growing global pod market.
I received my order from the Windsor production centre.
The pods are much improved and work seamlessly with the Keurig system.
The Coffee is great too.
It is the pods that will make this stock fly though.
Nexe now has BPI compostable certification and their own plant is up and running and in an ideal location for North American distribution.
The pods are better than any other compostables I have tried.
I’ll be very surprised if the company does not land some big contracts to provide their pods to major coffee producers.
I think this stock is primed to increase exponentially, $10.00 target is not inconceivable if they obtain a large contract.
I received my order from the Windsor production centre.
The pods are much improved and work seamlessly with the Keurig system.
The Coffee is great too.
It is the pods that will make this stock fly though.
Nexe now has BPI compostable certification and their own plant is up and running and in an ideal location for North American distribution.
The pods are better than any other compostables I have tried.
I’ll be very surprised if the company does not land some big contracts to provide their pods to major coffee producers.
I think this stock is primed to increase exponentially, $10.00 target is not inconceivable if they obtain a large contract.
Delivery is out from the Windsor plant.
New improved packaging.
We are thrilled to announce that NEXE has transitioned to a state-of-the-art, larger facility in Windsor. This move represents a significant milestone for us as we increase our capacity and production capabilities, enabling us to deliver even more exceptional products to the market. With this exciting expansion, we are focusing on private label and co-manufacturing, allowing NEXE to leverage established distribution channels across North America. By harnessing the power of these strategic partnerships, we are poised to revolutionize the single-serve industry and elevate the NEXE Coffee experience to new heights. As pioneers in sustainable packaging solutions, we are committed to delivering excellence in both quality and service
In addition, InnerScope has acquired HearingAssist, an established leader since 2008 in the DTC hearing aid market, with a customer base of over 400,000.Nov 22, 2022
I simply Googled Hearing Aids , Walgreens , and there they were, New, Hearing Assist, $499.
https://www.walgreens.com/store/c/hearing-assist-eaze-ric-rechargeable-hearing-aid-kit-pair/ID=300434691-product
Time to start taking note fellas and fellettes.
$25.million cash, most equipment paid for . Windsor plant on target to start operating by the new year.
Hot air balloons rise --- until they pop.
2000 Shares here.
The last reverse split was in January 2014, one before that in 1998 and that one was a 2 for 3 split.
That's it.
Over and over again ?
Not.
So why does this still show up in my I trade account?
#12 on the breakout board
Third filing posted on the OTC filings and disclosure page.
They're doing exactly what she said they would.
https://www.otcmarkets.com/stock/HBRM/disclosure
Well, it seems she lasted about a year before becoming disillusioned.
Cross Border Power
Principal CEO
Company NameCross Border Power
Dates EmployedJan 2019 – Jan 2020
Employment Duration1 yr 1 mo
LocationStanstead, Quebec
The mission of Cross Border Power is to offer renewable power to industry and consumers at competitive rates that effectively uses storage technology. Cross Border Power provides enabling technology for micro-grids within the context of a North American solution to climate change. We are now working on a breakthrough battery technology that will enable our electric grid to transition to 100% renewable sources, 100% of the time.
see less
Well, the border's closed now but - - -
https://spectrum.ieee.org/energywise/energy/the-smarter-grid/startup-aims-to-tackle-grid-storage-problem-with-serverracksized-battery
Only in Canada ?
I wonder if we will ever find out what's really going on!
https://topgear-autoguide.com/category/sports-car/xnrgi-lithium-metal-battery-new-wonder-battery-from-canada1607808243
Last time there was a late filing it came through on May 31st.
They have 45 days from the filing deadline before a stop sign goes up.
I think they will file, they would not go to all the trouble of becoming current just to lose it again.
https://backend.otcmarkets.com/otcapi/company/financial-report/278803/content
May 1 is the date she gives for expected report.
Buys are increasing the last few days.
When they open the gate this will run hard.
Pink current and making money.
Seven Ways to Contact the dead according to an expert.
1. Coins :So next time you see a penny on the ground, remember: Maybe d"Couto is sending you a message even more passive-aggressive than that $5 birthday check he sent you in 1993.
2.Aromas :Tobacco smoke, perfume, a particular flower or even specific foods cooking,", "any scent that was distinctively related to that person."
Guess what aroma we have here !
3: Dreams : As in "In your dreams ":
4:Windchimes
5:Feathers, stones, symbols, numbers. For example "In two weeks".
6: Birds :
Who are the crows that circle your neighborhood then, dive-bomb you when you walk out in the morning to pick up a breakfast sandwich? Are they dead warlords? Is it d'Couto? It’s d'Couto, right?
7: Songs:
“Though it seems impossible,” , the dead “are very good at playing songs on the radio at just the right time. Sometimes several in a row. These can be real tear-jerkers, so be ready.”
Play it again Sam.
This, somewhat edited, was taken from Ten ways to Contact the dead.
You can Google it for more info.
What does numismatics have to do with Stem Cells and Regenerative Medicine anyway ?
Oh, I see. It's the collection of OUR currency.
Where is this Gurugram factory?
Outside of the XNRGI website and Xnrgi articles and fancy videos touting Xnrgi having power for everything for everywhere and for everyone there is no factory.
Just try to find it in the real world, Google maps, Wikipedia, any where . Find an address .
It just does not exist.
Let's see it, with real people we know, d'Couto, Sidlo, Reiman , whatever happened to Derek Reiman ? , in the building, showing us around.
Let's see some completed deals and real business connections.
Whatever.
Ha.
Boy were we ever taken for a ride.
Over a 1000 trades and $700,000. doesn't seem like zero interest.
Plus, you know how fast that can change down here in sub penny land.
From the New York Times .
“These gummies will get you high, and may even be legal.
A once-ignored derivative of hemp called Delta-8-THC has become a hot seller for people looking for a loophole around marijuana laws.
Delta 8 is an only slightly chemically different form of Delta 9, the main psychoactive ingredient in marijuana. But it wasn’t mentioned in the 2018 Farm Bill, an enormous piece of federal legislation that, among many other things, legalized widespread hemp farming and distribution.
So entrepreneurs began extracting and packaging it, and, as one Austin-based entrepreneur said, the number of customers “coming into Delta 8 is staggering.” “
I think that reads by the thousands. Standard practice.
Looks good to me. Gros and net profit both highest yet and this is before new distribution deal or the me-mask has been taken into account.
Note the last trade, sequential at .0048 .
Dropping in to see how things are going.
Nice to watch old movies, especially these days.
Remember this one, posted in late 2019 or early 2020?