Innovative Food Holdings Inc (IVFH)

[greasemonkeyshoes]

"you have seriously underestimated management's competency in running a food brokerage business."......
You could be right but you are assuming all food brokerage business are the same,how did FD turn out??I believe IGourmet/Innovative Grourmet business model(you are referring to) deviates too far off from the "chef-to-chef" food brokerage model for one and only one reason: breaking away from the benefit of highly repeatable and high profit margin sales of its core business(again,"chef-to-chef").
Here are some numbers from 8-k,which may be subjective
IGoumet:
sale 8.72 milllion(2017)
customers 75000
or
annual sale per customer is $116(2017)
cost 76%(2017)
sg&a per customer is $37(33% of revenue in 2017)
My point/concern:
Retail space belong to Amazon,kiss of death="AMAZONED".
Much harder to squeeze sg&a in retail "space where "service-service-service" is a must and costly.
Little or no synergy with "chef-to-chef" core business.

Assuming customer ordered 3 times each year,we have
average ticket $39.00
cost per ticket $31.00
customer service/packing/shipping/warehouse per ticket is $12.00
or lost about $4.00 per ticket
.......
........
Expansion of this business model is "kiss-of-death" and "no-meat-on-the-bone" at best.

ps-I believe squeezing the cost out of the $12.00 per ticket would be difficult to do even for Sam.