I might be reading too much in between the lines here but if I were a betting man I would say the letter of intent has turned or is turning into a letter of action. We WILL know before the end of this month for sure.
Nightfood Schedules Fourth Ice Cream Production Run for June; Product of the Year Winner Building Inventory in Advance of Major Partnership Announcement
GlobeNewswireMay 1, 2019, 7:28 AM EDT
Tarrytown, NY, May 01, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Nightfood, Inc. (NGTF), the innovative ice cream company solving America’s $50 billion-dollar nighttime snacking problem, announced today that the company has scheduled a fourth ice cream production run for June of 2019.
The Company already has production scheduled for mid-May, but an additional run has been necessitated by a major distribution partnership agreement the Company signed earlier this week. The June production run will be the fourth production run in the first half of the year for the ice cream startup, and the largest to date.
Management is targeting a total of 240,000 pints produced for the June run. This is more than twice as large as any previous run, and represents over $750,000 in revenue potential. The May and June run combined target over 330,000 pints manufactured and revenue potential well over $1,000,000.
“While we’re not yet ready to announce the partnership, this is a situation where actions speak louder than words,” commented Sean Folkson, Nightfood CEO. “With this June run, we’re scheduled to complete north of 500,000 pints in our first 6 months of production, and I expect the second half of the year to be much busier.”
Nightfood’s PR firm, T3 Shamrock, has secured significant media coverage for the upcoming partnership announcement, about which Folkson previously stated, “I’m projecting that it’s going to bring exponential growth to us for the next several quarters.”
“We’ve been in touch with our vendors and suppliers to ensure we can meet our projected growth for the remainder of this year and into 2020,” disclosed Jim Christensen, Nightfood VP of Ice Cream Sales. “At this point we’re expecting to produce monthly and with ever increasing run volumes.”
Nightfood’s financing source, Eagle Equities, has been providing capital for the inventory build and other expenses in preparation for this new distribution partnership.
