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I wouldn’t be suprised to see 1 million units moving per month for Twist & Go this upcoming fall school season. The school business is shaping up to be a bigger opportunity than the restaurant business. Schools are serving lunch over the summer. I’m interested to see the reorder rate for Pasco County after the initial 240K unit order. Barfresh is only operating at 10% of manufacturing capacity. Just scratching the surface and daily volume is increasing with buyers showing up. I love how this company was able to adapt to COVID times and launch this prepackaged product that needs no equipment to serve - brilliant! Also you can clearly see they are working hard to create shareholder value just by looking at all these press releases in a short period.
BarFresh launches a new Twist & Go pre-packaged consumer product with an initial 240k+ unit order. The news lately has been substantial, I've seen reputable investors publicly post they have taken a large position in $BRFH.
Bigger Capital:
Michael Bigger - Large $BRFH holding, I'll be on
Barfresh Launches Ready-to-Drink Bottled Smoothie to School System Channel
A great sign to see Norman Pessin investing more and purchasing 2 million shares at .50 cents.
Norman Pessin was a principal for nearly 25 years at Neuberger Berman, a New York asset management firm.
Pessin is currently a private investor with a focus on small, publicly traded companies.
At Neuberger Berman, Pessin was responsible for syndicate underwriting, prime brokerage, correspondent clearing, and Nasdaq market-making.
He also served on the Board of Governors of the National Association of Securities Dealers and was a director of the Nasdaq Stock Market.
This deal is for a new company in addition to the existing 2,500+ location company deal announced in 2018 which is a significant difference to the upside value.
https://www.irdirect.net/prviewer/release/id/3471694 (2018)
vs
https://www.irdirect.net/prviewer/release/id/4268615 (2020)
Note: as far as we know there is no start date for the 2018 deal but the contract is still signed waiting for a marketing window.
I'm sure management will clarify more details during the 2019 annual results call most likely in early April.
Ibex / Lazarus reported acquiring 5 million shares combined yesterday at .50 per share. This is very bullish especially during these times.
I'm looking for much higher price points than .40 - .56 - .70 to sell. The real profits will be made when we can see the actual products successfully rolled out and sustained in these 3,000+ regional Dunkin (unconfirmed but probable) restaurant locations.
BarFresh needs to execute the distribution and customer support for these 3,000+ regional locations. If the products are a hit Dunkin could potentially expand BarFresh to their remaining 10,000+ USA locations.
This is the point where I start taking some profits with a share price in the multiple dollars. After I take all my profits I will hold my initial investment for a future company buyout opportunity.
BarFresh investor relations have confirmed that this is a new deal that they believe will be transformative for the company.
Confirmed that this new deal is separate from the 2500+ QSR deal signed in fall 2018.
Unconfirmed but this could very well be a regional Dunkin rollout.
I've asked if the existing 2500+ QSR deal is still on the table, will reply when I hear back if there are any updates.
Where did you purchase the BRFH single-serve pack? I haven't seen them for sale online anywhere and I don't believe they have a retail consumer product yet.
In my opinion, he's been very accurate - just review the other ideas he's posted on this website. For instance MamaMancini’s Stock is Oversold; What The Market Overlooked for ticker $MMMB which is now trading at more than double the stock price from when this was posted. $.46 cents then to now $1.21.
Keep in mind Paolo's BarFresh Food Group estimates completely discount further growth in national accounts and intentionally low-balls revenue per location.
Paolo concludes his evaluation with:
"By the end of 2021, I conservatively estimate that Barfresh will be generating an annual earnings run rate of ~$21 million on the back of $67.5 million revenues, selling products to 3,000 schools out of 98,000, and 200 military bases out of 940. I see at least 400% upside between now and 2021 on only a mere 15X earnings multiple. This valuation would propel BRFH from a micro-cap to a small-cap stock, which would increase the stock’s visibility as it appears on more investors’ radars, which could potentially drive multiple expansion. Even after 2021, Barfresh would still be far from a mature company, so while this article only considers what could conservatively happen in the next 3 years, the growth story has much more track to run beyond 2021."
For those of you who missed this article, you can read it here: Barfresh Food Group: A Growth Investment Idea for Long-Term Micro Cap Investors
I was thinking we would hear something about Dunkin by the end of 2019 but now it's obviously looking more like news will happen Q1 2020. This makes sense if in-store testing was completed in Q4.
BRFH volume has been slowly picking up as stock price has increased from all-time lows of .25 cents; hopefully, the momentum will continue into the new year.
We are less than 6 months away from summer which is when a QSR would be most likely to launch smoothies system-wide. Maybe investors are more interested now since the upside could easily be a multi-bagger.
If you are new to investing check out this BarFresh idea by Paolo Magaan: Investment Thesis: Potential Four-Bagger By 2021
Paolo posted this on Twitter after last earnings:
"BRFH is in the bag. I don’t have to look at it anymore. It’s playing out exactly as I thought, in the timeframe I expected. 2020 is going to be absolutely huge. Thank you market for giving me such a ridiculously cheap price. Time to find my next homerun. I have until next spring"
And followed up with this on December 23rd:
"BRFH Frozen beverages producer. Right on the cusp of execution. Even cheaper today from when I wrote about it, yet company has only gotten stronger. Multibagger candidate."
Welcome to the BarFresh message board, you have entered at an excellent price point! As far as I know when BarFresh Food Group expanded to USA the remaining leadership in Australia couldn’t execute and operations were shut down. I believe this could be the reason why it’s taken so long to engage with Subway once again in Puerto Rico.
BarFresh is now headquartered in California and has already expanded internationally to South Korea. There are many catalysts in the near term, most importantly we finished testing with Dunkin (11,000 stores) and are expecting news soon.
BRFH salaries are not justified and I agreed in an earlier post. If we take a look at the 2018 salaries listed on the 10k with news from 2019 we should expect the following:
CEO $350,000 (Received full salary)
President $145,000 (Cut from $300,000)
CFO $100,000 (Cut from $250,000 in April 2019, resigned July 2019)
Investor relations did confirm via email this morning that there are no performance bonuses or targets for 2019. The CEO's salary should be reduced until he can provide shareholders with value. At the very least the CEO should purchase shares in the open market and give back to shareholders.
As far as headquarters being in Beverly Hills, it would make sense to relocate to another location in Los Angeles; however, I believe I recall they reduced operating costs and moved to a new building with a cheaper lease.
BarFresh is moving up on low volume with no large sellers visible on Level 2, we are only showing a 35k inventory all the way up to .45 cents.
If you are trying to buy you should get in as soon as possible if history repeats itself from last year where BRFH share price went from .40 cents all the way up to .70 cents with just a few hundred thousand shares purchased on no news.
This is where we had a million share order right before the bell bringing us to .80+ cents. Could we be seeing the same pattern? Last reported short interest numbers on 11-29 were less than 40k, plenty of room to run with nothing but upside here.
There has been a buyer since last week slowly trying to add shares. Volume was higher on that day and they kept increasing their bid. I'm sure folks are starting to see the value in BarFresh. Hopefully, investor relations will reply soon with answers to my performance bonus target questions. Management will want to make sure they hit these bonus targets before the end of 2019. My best guess is last year's target was landing the 2500+ QSR which is still confirmed and waiting for a marketing window.
The quality board of directors leads BRFH and ensures the company is set up for success. Respected institutions and investors purchased massive positions after confirming due diligence, for instance: Unibel Group, Wolverine, and Lazarus. Not to mention Norman Pessin took a huge stake earlier this year who served on the Board of Governors of the National Association of Securities Dealers and was a director of the Nasdaq Stock Market. Any sort of funny business would have been sniffed out, these groups see the potential and will be rewarded.
Steven Lang was appointed as Director of the Company on January 10, 2012. Prior to joining Barfresh NV, from 2003 to 2007, Mr. Lang was a director of Vericap Finance Limited, a company that specializes in providing advice to and investing in Australian companies with international growth potential. From 1990 to 1999, he served as a director of Babcock & Brown’s Australian operations where he was responsible for international structured finance transactions. Mr. Lang received a Bachelor of Commerce and a Bachelor of Laws from the University of New South Wales in 1976 and a Master of Laws from the University of Sydney in 1984. He has been a member of the Institute of Chartered Accountants in Australia and was licensed to practice foreign law in New York.
Qualifications: Mr. Lang has over 40 years of experience in business, accounting, law and finance and served as Chairman of an Australian public company.
Arnold Tinter was appointed as Director, Chief Financial Officer and Secretary of the Company on January 10, 2012. Mr. Tinter resigned his position as Chief Financial Officer on May 18, 2015 served temporarily as Principal Accounting Officer. Mr. Tinter founded Corporate Finance Group, Inc., a consulting firm located in Denver, Colorado, in 1992, and is its President. Corporate Finance Group, Inc., is involved in financial consulting in the areas of strategic planning, mergers and acquisitions and capital formation. He has been the chief financial officer and a director of other public companies: From 2012 to 2016, LifeApps Digital Media Inc. and Arvana Inc. From 2006 to 2010 he was the chief financial officer of Spicy Pickle Franchising, Inc. In all of the companies his responsibilities included oversight of all accounting functions, including SEC reporting, strategic planning and capital formation. From 2015 to May the present, he served as chief financial officer of Bambu Franchising LLC, LLC, a privately held company that is a franchisor of Vietnamese themed shoppes that serve drinks and deserts. Prior to 1990, Mr. Tinter was chief executive officer of Source Venture Capital, a holding company with investments in the gaming, printing and retail industries. Mr. Tinter received a B.S. degree in Accounting in 1967 from C.W. Post College, Long Island University, and is licensed as a Certified Public Accountant in Colorado.
Qualifications: Mr. Tinter has over 40 years of experience as a Certified Public Accountant and a financial consultant. During his career he served as a director of numerous public companies.
Alexander H. Ware was appointed as director of the company on July 13, 2016. Since September 2018, Mr. Ware has served as President of Foodsby, Inc., a fast-growing meal ordering platform for office buildings. Previously, Mr. Ware served as the Interim President, Executive Vice President & Chief Financial Officer of Buffalo Wild Wings from2016 to 2018. From 2012 to 2016, Mr. Ware was Executive Chairman of MStar Holding Corporation. Mr. Ware served as Interim Chief Executive Officer for MStar Holding Corporation in 2013. Prior to his time at MStar, he served as a Senior Advisor and previously as Executive Vice President of Strategic Development of Pohlad Companies, a family office, from 2010 to 2015. Starting in 1994, he served in increasing capacities at PepsiCo, then PepsiAmericas, Inc. culminating as Executive Vice President & Chief Financial Officer from 2005 to 2010. Previously, he was a Senior Associate at Booz Allen Hamilton, Inc. from 1990-1994. Mr. Ware received his Bachelor of Arts degree in Economics from Hampden-Sydney College and his Master of Business Administration from the Darden Graduate School of Business at University of Virginia. Mr. Ware currently serves on the board of MStar Holding Corporation and on the advisory board of Stonearch Capital.
Qualifications: Mr. Ware brings over 30 years of experience in leadership, strategic planning and business portfolio management.
Isabelle Ortiz-Cochet was appointed as director of the Company on December 16, 2016. She is the Chief Investment Officer for Unibel, parent company of Bel Group. Bel is an international France-based group, a world leader in branded cheese business and fruit pouches, with brands such as Laughing Cow, Mini-Babybel, Boursin or GoGo Squeez. In that position since January 2016, Ms. Ortiz-Cochet drives Unibel diversification strategy, and leads the investment portfolio development. She was previously VP Strategic Development at Bel Group Form September 2013 to December 2015. From 2007 to 2013, based out of Bel’s New York office, Ms. Ortiz-Cochet led the development of long term strategies in North and South America, as well as Marketing strategy in the region. Prior to that position, she held a number of leadership positions in marketing and global strategy at Bel out of the Paris office, at French, European and corporate levels. Isabelle began her career with Kimberly Clark in France. Isabelle earned a master degree from ESSEC Business School in France, and an executive MBA from HEC Business School, France.
Pursuant to the investor rights agreement between Barfresh and Unibel dated November 23, 2016, Unibel is entitled to appoint one director to the board of directors of Barfresh, which director is entitled to sit on each committee of the board of directors selected by the Unibel, unless Unibel has beneficial ownership of less than: (i) 75.0% of its Shares; and (ii) 5.0% of the company’s issued and outstanding common stock. Unibel has designated Isabelle Ortiz-Cochet as its board designee. Barfresh has agreed to call shareholder meetings whenever necessary to ensure Unibel’s designee is elected as a director. At any time that Unibel’s designee is not a director, Unibel’s designee will be entitled to be a board observer. Riccardo Delle Coste, Steven Lang and their respective affiliates have agreed to vote their shares in favor of Unibel’s designee.
Agreed, the executives are overpaid and their salaries should be reduced by 30-40% until they can provide shareholders with value. I've reached out to investor relations as I'm unable to find any records of performance bonus targets set for 2019. I'm sure BRFH is working hard to deliver something this month in order to reach those targets because I can't imagine they have met them already this year. Below are the base salaries as reported on 2018 10K:
Riccardo Delle Coste, CEO - $350,000
On April 27, 2015, Smoothie, Inc. entered into an executive employment agreement with Riccardo Delle Coste, its Chief Executive Officer and director. Mr. Delle Coste is also the Chief Executive Officer and Chairman of the Company. Pursuant to the employment agreement, he will receive a base salary of $350,000 and performance bonuses of 75% of his base salary based on mutually agreed upon performance targets. In addition, Mr. Delle Coste will receive up to an additional 500,000 performance options, on an annual basis. All options granted under the employment agreement are subject to the Company’s 2015 Equity Incentive Plan.
Joseph M. Cugine, President - $300,000
On April 27, 2015, Smoothie, Inc. entered into an executive employment agreement with Joseph M. Cugine to serve as President of Smoothie, Inc. Pursuant to the employment agreement, Mr. Cugine will receive a base salary of $300,000 and performance bonuses of 75% of his base salary based on mutually agreed upon performance targets. In addition, Mr. Cugine will receive 8-year options to purchase up to 600,000 shares of Barfresh, one-half vesting on each of the second and third anniversaries of the date of Mr. Cugine’s employment agreement. In addition, he will receive up to an additional 500,000 performance options, on an annual basis. All options granted under the employment agreement are subject to the Company’s 2015 Equity Incentive Plan.
Joseph S. Tesoriero, CFO - $250,000 *reduced by 60% to $100,000 in April 2019, he then resigned in July, 2019
The Company entered into an executive employment agreement with Joseph S. Tesoriero on May 18, 2015, pursuant to which he agreed to serve as Chief Financial Officer. Pursuant to the employment agreement, Mr. Tesoriero received a base salary of $250,000 and performance bonuses of 75% of his base salary, based upon performance targets determined by the Board of Directors. In addition, Mr. Tesoriero was granted 350,000 shares of common stock of Barfresh and 8-year options to purchase up to 500,000 shares of common stock of Barfresh. One-half of each of the share and option grants vests on each of the second and third anniversaries of the date of commencement of Mr. Tesoriero’s employment. Mr. Tesoriero also receives 8-year performance options to purchase up to an additional 350,000 shares on an annual basis. All shares and options granted under the employment agreement are subject to the Company’s 2015 Equity Incentive Plan.
Performance Bonuses
In addition to the Base Salary, Executive shall receive (i) a bonus equal to 50% of Executive’s Base Salary for that calendar year, based on targets determined by the board of directors of the Company, which amount will be paid no later than March 15 of the following year; and (ii) a bonus equal to 25% of Executive’s Base Salary for that calendar year, based on targets determined by the board of directors of the Company, which amount will be paid in three (3) equal annual installments commencing March 15 of the following year ((i) and (ii) collectively “Performance Bonuses”). Performance targets for the 2015 calendar year shall be established within 90 days of the Effective Date; performance targets for subsequent years shall be established by March 31, 2015 of each subsequent year.
I was told by Dunkin store management that BarFresh smoothies often sold out every day by 1pm in both Tennessee and Las Vegas; the most popular Barfresh smoothie flavor was Orange Mango. If you think about how viral the Dunkin COOLATTA has been over the past decade then smoothies will surely bring additional revenue.
BarFresh smoothies pair well with any breakfast menu item, initial sales with replenishment orders will be huge. We could assume they will launch a national campaign in spring for smoothies as they did for Beyond Meat and also Christmas offerings.
Dunkin is only one catalyst, the 2500+ deal was closed and will launch it's just a matter of when. There are many other huge names in the pipeline such as Subway Puerto Rico expanding to 200+ locations. I have a feeling BarFresh is working on executing Dunkin, Military, Schools, and others such as GYU Kaku international expansion in 2020. I suspect in 2021 BarFresh will be primed and ready to take on the world's largest QSR nationally - Subway.
In the meantime, we are one press release from being a very profitable company which is when the big names will come knocking on the door for a buyout. I'll continue to buy shares anywhere below .30 cents since this is an easy and risk-free multi-bagger.
Our gross profit margin for the quarter was 54% similar to last year’s margin. It is our expectation that gross profit margins for the fourth quarter of 2019 will be similar to the third quarter. Our continued strong gross margin is driven by many factors including improving product cost efficiencies as well as product mix.
I'm not sure what the margin is on a per-unit basis, I'm sure each customer has different price points depending on their market and size of the order.
Big news from Dunkin expected soon. National rollout 11,000+ locations with two different BRFH smoothie flavors at $2.99 price point. This should be a $20 million customer skyrocketing revenues with a margin of greater than 50%.
Folks this is just one of the MANY catalysts currently in play. Schools and the Military alone will make BRFH a profitable company in 2020.
Nice day for BarFresh with buyers showing up but no sellers as I said earlier this week. I hope I'm able to steal more shares under .30 cents but someone has been obviously beating me to it and slapping that ask!
Nobody is selling BRFH, they know how big the upside is. I've had a 60 day buy order under 30 cents open for more than a week and it's a joke how little has been filled. I'm really hoping a few sellers show up so I can add more to my position before this BarFresh Smoothies stock takes off.
There are better numbers coming as well as a few potential catalyst PR’s that could catapult this stock!
Bought more shares on Friday and this morning, please keep selling me shares below 30 cents - I'll take them all!
Another green day for BRFH right before the holiday break. Plenty of buyers waiting for any chance to pick up cheap BarFresh Food Group shares. Looking forward to seeing what the upcoming weeks bring us, we should have news about an approved MAJOR national account such as DUNKIN by the end of 2019.
Penny stock investors won't have too much longer to purchase shares at these levels. This is a business that can be profitable in the very near future. There are many other smoothie companies out there but none that have the patented smoothie pouches with quick pull tabs like BarFresh.
This product is a quick-service restaurant's dream and an excellent option for other dining facilities. Once BarFresh gains more visibility news of this high reward investment opportunity will spread quickly.
Evidence shows BarFresh is a multi-bagger in 2020. Which story has been told many times? Please share FACTUAL details besides baseless short claims that prove otherwise as I have done.
It must be hard to sleep at night with your SHORT position, it feels nice to be LONG and not have to worry about stock ticker BRFH each morning when I wake up.
Do you really think you will be able to keep a lid on this up and coming smoothie stock when those household brands such as DUNKIN and SUBWAY are revealed with 10's of thousands of locations rolling out nationally? You'll have no chance to cover in premarket with OTC stocks.
Goodluck shorting for pennies with a limitless possibility of loss looming, so far the stock hasn't moved and your attempts have been feeble... there is too much buying power for you to handle.
An institution mistakenly sold their full BRFH holdings for a huge loss believing the company needed cash after Q2 results. BarFresh denied, was true to their word, and doubled cash on hand Q3 in addition to inventory. They also confirmed no need for a capital raise through Q1 2020 with plans in motion to satisfy convertible notes due March 2020.
Secondly most, such as myself, assumed the 2500+ QSR signed last year was going to launch nationally Q3 with a $5M order as a result of guidance given during Q2 business update call. This is still a confirmed deal however has been pushed to a 2020 marketing window. Some believe this deal will never go through as a result of the delay. BarFresh has reiterated that this deal is going to happen and is signed.
Third, schools haven’t expanded as quickly as we had thought. It was just revealed this was in result of USDA not fully approving our product in every state for full government reimbursement. Now that we are approved in every state by USDA BarFresh can quickly penetrate the 100K schools in the USA - we have just scratched the surface here.
There is logic behind the stock price falling however it’s with low volume and practically no visibility. Like I said in a previous post there are plenty of investors waiting for cheap shares until one of these massive deals materializes. Anything half of the note conversion price of .60 is easy money before any upside.
BarFresh hires former Sysco Director and Nestle Broker Chris Jones for Mid-Atlantic Region in North Carolina: Chris Jones - Barfresh Food Group Inc (BRFH) Business Development Manager Mid-Atlantic Region
No dilution through Q1 2020 confirmed by investor relations. BarFresh is in the best shape it’s ever been and poised to reward long term investors. Operating costs down, improved product, gross margin higher, testing with BIGGEST quick service restaurants and dining facilities either completed or almost finished. Don’t let the negative shorts fool you, they already went 400K+ shares short past 30 days but barely moved the stock price.
Dillon Hill was incorrect in Q2 earnings call questions and answers, the company did NOT need to raise cash and they foolishly sold their entire 4 million+ position. They were proven wrong during Q3 earnings call with more than double cash on hand and close to a million dollars in inventory.
BRFH is a multi-bagger, slower volume is expected right now. BarFresh should be treated as a private investment until one of these big deals materializes, the stock price doesn’t have any visibility. Most of the shares are held by institutions and insiders, check the 40 million float.
There are folks shorting this stock right now, it must not be easy sleeping at night knowing you could wake up to a press release about a national 11,000+ Dunkin order. I know many investors who are thirsty to buy any shares under .30 cents, less than one half of the convertible note price of .60 cents. Please feel free to keep selling to us!
There is no need for a capital raise and the company has a plan to extend convertible notes due in March, go read the footnotes in Q3 filings.
The Company has $1.9 million of convertible short term debt coming due in March of 2020. Approximately half of this debt is held by insiders. The Company expects that if available cash upon maturity of this debt is not adequate to repay the convertible short term debt, it will be able to extend the maturity date of that debt, in particular the portion held by insiders.
Management has evaluated these conditions, and concluded that there is substantial doubt over the Company’s ability to continue as a going concern. The actions discussed in this footnote could mitigate the substantial doubt raised by our historical operating results, and satisfying our liquidity needs twelve months from the issuance of the financial statements.
"Thanks, on our conference call we said we now expect the 2,500+ to be in 2020. We do not expect the need to raise additional capital by the end of Q1 because of improved cost controls and expected improved revenue in 2020."
Reply from John Mills, BRFH Investor Relations November 18, 2019
"I can't comment because of reg FD on 2500+ timing or rollout but we said on last conference call we expect it this year."
Reply from John Mills, BRFH Investor Relations September 27, 2019
BarFresh has turned the corner reducing monthly operational expenses from $600K to $160K with plans to continue improving costs. It also seems BarFresh is looking for the right people to work for the company taking on a regional business development approach in key markets:
Barfresh is hiring 3 regional business development managers in key markets Dallas, Los Angeles, and Miami
Barfresh is hiring 1 customer relationship representative in Los Angeles
With technology and partnerships these days you don't need 34 people in the field to service national accounts. That's why we have partners and distributors such as Pepsi, Sysco, Gold Star.
I agree with you the military and school markets alone should pay the bills especially now that we can specifically expand schools at a much quicker rate with the new USDA approvals - schools in all 50 states are now 100% reimbursed for BarFresh products which makes this much more appealing. I'm interested to see how quickly they can move into California school districts with the Gold Star distribution agreement. BarFresh has also been changing flavors to keep things interesting for the kids. Just scratching the surface here with nearly 100K schools in the USA.
There are so many possibilities with household brands such as Dunkin, Subway, Gyu Kaku, Landry's and many others in the pipeline; we could wakeup to a monster press release any day. Also, note that Investor Relations did reply and say there is no need for a capital raise or share dilution through Q1 and BarFresh has enough cash to operate. IR also confirmed that the mystery 2500+ location contract is still signed and expect a rollout in early 2020.
Yes, I've tried BarFresh smoothies at several locations - Shakey's Pizza San Diego, Dunkin Las Vegas, and GYU Kaku San Diego.
The smoothies taste great, my favorite was the Orange Mango at Dunkin. I believe BarFresh will have news before end of 2019 about a Dunkin national rollout. From all the positive things Dunkin store managers told me we should expect a deal. With lower operational costs, USDA approval and several huge opportunities near the finish line I am going to continue to buy.
Follow Paolo Magaan on twitter, an excellent analyst who wrote a great article about BarFresh earlier this year.
Barfresh Food Group: A Growth Investment Idea for Long-Term Micro Cap Investors
After last conference call, he's more bullish than ever:
@PaoloMagaan
$BRFH is in the bag. I don’t have to look at it anymore. It’s playing out exactly as I thought, in the timeframe I expected. 2020 is going to be absolutely huge. Thank you market for giving me such a ridiculously cheap price. Time to find my next home run. I have until next spring
I have a million shares and will continue to buy long as I have done in-depth research over the past year that makes me believe this will easily be a multi-bagger. I've been posting my findings on Twitter but let me give you a little summary:
a). We are in 60+ locations in Subway Puerto Rico and looking to expand to all 200 locations. Based on the information given to us I believe BarFresh will push for mainland USA Subway locations in 2021. There is no other sandwich chain with this amount of locations in Puerto Rico.
b). We are in all Gyu Kaku locations in North America which are 60+ and expanding. There are more than 700 locations globally. BarFresh is already showing they can handle international operations with Military establishments in Korea.
c). Investor relations has confirmed this deal is still going through via email that they still expect the 2500+ location to roll out in 2019. BarFresh's CEO told us earlier this year that he expects this to be a $5 million customer. There are only a few companies this could be and it's a national roll out all at once.
d). BarFresh has completed in-store testing for Dunkin. Dunkin's marketing team told me on Facebook where they were testing Smoothies. I drove to Vegas and spoke with several store managers. One of the store managers even let me take home the entire handbook for the Smoothies test, I have it in my hands. Based on the information that has been provided to us I believe we will know if we are going to be rolling to all Dunkin locations nationally within 30 days. 11,000+ locations.
Sun Sentinel Smoothies at Dunkin
e). We have completed product testing in a national dining chain non-QSR. There are only a few options here but to name a couple of candidates we have Applebee's and Buffalo Wild Wings. According to BarFresh our products have already been approved and will be going through operational testing to be completed in Q1 2020) which means marketing, distribution, training, general operational execution for this customer. BarFresh expects a roll-out in Spring 2020.
f). Now that our products are USDA approved we may expand to every state in the USA at as fast as a pace as we want. Schools no longer have to worry about being reimbursed for equipment or products from BarFresh.
g). After investigating you will see that BarFresh is looking to expand quickly, they are hiring regional business development:
BarFresh is Hiring
h). After the Q2 earnings call investors were concerned with cash on hand and the need for a capital raise which I believe triggered the sell-off. Investor relations confirmed last month that they do not need to do a capital raise. We now have double the cash on hand at $1.3 million with almost a million on hand with an inventory.
These are just a few of the prospects going on, the share price is an absolute bargain at this point. With all these possibilities I can't believe there are folks actually shorting this stock.