May 2014 - The product is currently sold under the name “Nate’s Homemade.”
Nate’s Food Co. Announces Export of 3 Million Cans To China November 18, 2014 08:00 AM Eastern Standard Time LOS ANGELES--(BUSINESS WIRE)--Nate’s Food Co. (OTC: NHMD) announced today that it has reached an agreement to export 3 million cans to China. As a result of the shift in China towards a preference for westernized products and the lack of a dominant US Company, the Company views China as having greater potential for growth than the United States. The Company is forecasting that Chinese sales could exceed 25 million cans annually by 2018. Between the United States and China, the Company is expecting sales to exceed 50 million cans annually within the next 3-5 years.
Nate’s Food Co. Announces It has Begun Discussions For Grocery Placement of Nate’s Pancakes For Up to 4.5 Million Cans per year
Los Angeles, California, October 20, 2014 – Nate’s Food Co, Inc. (OTC: NHMD) announced today that it has begun discussions to have Nate’s Pancakes sold in grocery stores. Nate’s Pancakes make ready-to-use, pre-mixed pancake and waffle batter delivered in a pressurized can. Our pre-made batter makes light and airy pancakes or waffles that are fun for the entire family to make together, and are a great way to start your day.
Q3. Why are you expanding with the One Minute Omelet?
A3. Products take a long time to develop. The Company was able to jump start the pancake and waffle batter because of Nate’s history with Batter Blaster. But even with that history it has taken months to get Nate’s Pancakes to a point where Nate is happy with the product. There are a number of moving parts that are involved with making the product for sale other than just the product inside the can. For example, to increase the shelf life of Nate’s Pancakes the product has to be more viscous than Batter Blaster which required an entirely new delivery system to be developed and custom valves for the cans to be made.
The Company is currently in the process of finalizing details with food brokers for placing Nate’s Pancakes. By beginning the process of developing additional products now, the Company is getting a jump-start on expanding its product line and thereby increasing the attractiveness of the Company to grocery stores since we will be able to delivery more than just one product. Additionally, adding the additional products reduces the overall capital costs for the company since the Company is able to take advantage of the resources it has by having the food science facility work on the new products while corporate is finalizing the details with the food brokers.
Our goal would be to have the new products available in 2015.
Nate’s Food Co. Announces It has Begun Expanding Capacity to 24 Million Cans per Year Providing Revenue Potential of $75 Million Annually
Los Angeles, California, October 27, 2014 – Nate’s Food Co. (OTC: NHMD) announced today that it has begun expanding its production capacity to approximately 100,000 cans a day or 24 million cans per year which could provide revenue up to $75 Million per year.
Q1. Are any deals with grocery stores dependent on the development of new products?
A1. Any deals with grocery stores are not dependent on new products or flavors. However, the ability to discuss and show added products makes Nate’s Pancakes more attractive.
Currently, the Company has to finalize the pricing terms with the food brokers before any deals with grocery stores can be finalized. The Company also modified the product to meet the food safety requirements of retailers and to increase the shelf life of the product. The new formula provides a longer shelf life but results in a thicker batter. As a result, Nate over the past week had to developed a new can and delivery system. Nate approved this custom can on October 30, 2014 and the Company began to run product through its new production line.
The next steps in finalizing the grocery store deals are: (1) sending new samples to the food brokers; (2) finalize pricing with suppliers for the new cans and formula, and (3) finalize the pricing with food brokers. Once, those steps are completed the final negotiations with grocery stores regarding delivery dates can be finalized.
During this time the Company has begun producing product to supply our current agreement and storing product to fulfill the new contracts we anticipate.
Nate’s Food Co. Announces It Has Begun Production On Its New Production Line.
Los Angeles, California, October 31, 2014 – Nate’s Food Co. (OTC: NHMD) announced today that is has commenced manufacturing Nate’s Pancakes on its new production line. The Company has uploaded photos of the Company’s product running through the new production line. The photos can be found at http://www.natesfoodco.com/photos/.
The new production line will assist the Company is making product for its current orders and provide samples of its current products and products in production to food brokers.
Item 8.01 Other Information
1. The Company is currently finalizing its strategic sales plan. The strategic plan is used by the Company to coordinate its sales and marketing functions to drive customers to its products. Currently, the Company is looking at a 3-phase rollout process.
Phase 1: rollout with one division of a membership store (i.e. Costco) and then proceed to expand throughout the other divisions. The Company has internally used Costco as a possible customer for its first phase.
Phase 2: introduce the product to convenient stores such as 7-11. The Company prefers the convenient store model because the number of convenient stores is significantly higher than traditional retail grocery stores. For example, 7-11 has 54,200 stores in 16 countries of which 10,400 are in North America. These stores provide a large footprint in North American but also allow was easy expansion internationally.
Phase 3: This phase consists of placement of the Company’s products in Walmart and/or Target.
The Company is still finalizing it strategy and is preparing for deliveries to begin March 1st or April 1st.
2. On December 1, 2014 the Company placed its initial purchase orders, through SouthCorp Capital, supplies for the initial product deliveries. The supplies typically take 4-6 weeks from ordering date to arrive. As such, the Company will begin ordering supplies to satisfy up to 3 months of orders.
Item 1.01 Entry into a Material Definitive Agreement.
On December 8, 2014 the Company finalized its contract with the Sinclair Group.
Q.4. How long before the factory in Indiana will be completed. Q.4. The factory in Indiana is expected to be completed in 2016. It is being built to produce 50 – 100 million cans a year. The Company does not expect to need that level of production within the next 12 months. We expect construction to start shortly after the winter season.
Item 8.01 Other Events
The Company is preparing to file the necessary documents with the SEC and FINRA to have its Series B Preferred stock listed on the OTC. The goal is to allow the shareholders of the Series B to trade their shares without impacting the Company’s Common Stock. The Company expects this process will take between 4-6 months.
Item 8.01 Other Information
The Company has received a number of terms sheets from companies offering to make a direct investment into the Company. The amount of the terms sheets and offers was in excess of $400,000. On December 23, 2014, the Company informed these companies that we were rejecting the offers due to the fact that the Company currently has sufficient capital to meet its operating needs and manufacturing requirements.
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