Operating profit margins on incremental sales are close to 25%.
At $50 million in sales should generate $8-10 Million in EBITDA, at $40 million in sales 6+Million EBITDA.
peers trading at 23 times EBITDA.
In 12,000 stores with potential for 26,000 stores.
They are not in food service at all. If they did it would double their size he says.
He said all the new products are doing very well.
getting into food service will require $500K over a years time, and they will recoup it in 3-4months.
Target $40 million run rate by end of 2017 or early 2018.
Should show growth up 60% as in last quarter and thinks they can do that for awhile.
Another layer of growth is coming in summer/fall of 2018 (currently in prepared foods).
Current product mix is meatballs, meatloaf, chicken parmigiana, and stuffed pepper mix versus only meatballs 2 years ago. All are doing well.
Introducing ravioli lasagna in February 2018, another lasagna product coming later in the year.
Testing sauces and vegetarian meatballs for introduction at a later date.
Plans to uplist to Nasdaq in mid-2018.
There 6Million warrants outstanding. If they convert then they could uplist 3 months earlier.
Senior debt around $2Million should be paid off in April.
Recent MMMB News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/16/2024 10:09:05 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 09/12/2024 08:33:24 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/10/2024 08:36:01 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 09/10/2024 08:11:19 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/09/2024 12:35:32 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/05/2024 08:30:50 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/09/2024 08:05:36 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/09/2024 01:04:17 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/09/2024 12:59:28 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/09/2024 12:56:36 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/09/2024 12:50:25 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/09/2024 12:45:54 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/12/2024 12:56:40 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 06/11/2024 08:11:11 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/21/2024 08:00:20 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 05/20/2024 08:15:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 08:31:03 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 08:30:27 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 08:30:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 08:30:22 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/17/2024 08:15:19 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 04/24/2024 08:10:49 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 04/24/2024 08:05:33 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/09/2024 09:18:12 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/21/2023 09:30:17 PM
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