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.
Los Angeles, California, October 27, 2014 A4. The Company is finalizing the terms and product with food brokers. The food brokers have been involved with products Nate has developed for over 10 years. Additionally, the grocery stores that we are planning on being sold in are the same 13,000 stores that Batter Blaster was sold in. As such, unlike other companies the question is only when will the terms be finalized not if they will be. Since the Company is comfortable with the food brokers, it was decided to get a jump-start on additional products. The Company is continuing to have talks with grocery stores and big box stores regarding placing Nate’s Pancakes in the same stores that Batter Blaster was sold.
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.
On November 24, 2014, the Company appointed the Sinclair Group, LLC as its sales and marketing partner for its retail grocery placement.
Dated: January 5, 2015 There is no set date that the Company will receive the purchase order. The Company expects to obtain a purchase order within the next couple of weeks. The Company expects the initial order will be between 60,000 – 100,000 cans per month and increase to 400,000 cans a month over 8-12 months. The initial purchase order takes the most time to finalize because the number of steps that need to occur prior to the purchase order being submitted. For example, the Company has to finalize off invoicing items such as in-store demos, marketing and other related fees. These discussions will continue this week as the holidays are over.
On February 17, 2015, the Company’s food broker had a very successful meeting and will continue moving forward with follow up discussions next week regarding program details and possible delivery dates.
Dated: February 24, 2015 The Company has had very successful meetings with retailers and big box stores. The Company is continuing these discussions and exploring which of these retailers would be the best partner to initially launch the retail product through, as well as support The Company’s long term business goals. The Company’s discussions have included national brands Costco, Target, Kroger and other regional brands.
Dated: March 2, 2015 (1) The Company has begun discussions to private label and license the product.
Dated: March 5, 2015 The Company has hired an internal sales broker to manage the national and international sales channels. As such, the company has terminated one of its broker relationships to consolidate the sales efforts.
Dated: June 23, 2015 1. The Company has received positive updates from ABCO and that Phase 3 will be completed ahead of schedule. As such, the Company has been working on lowering the cost to produce for grocery retail. In July we will commence sending out samples of the product to Wal-Mart, Target, Sam’s Club, Costco, Kroger, BJ’s and Albertson’s with our new wholesale pricing. The Company’s goal is to have the necessary audits completed by the by 4th quarter 2015 and deliveries to begin 1st quarter 2016. This will promote a two-prong strategy of branded stores and retail grocery chain.
Dated: July 30, 2015 The Company has been working with a sales and marketing consultant that for the past 2 months that has been leading the discussions regarding funding and managing the sales and marketing of the Nate's Homemade product line. The consultant has prepared a detailed presentation to begin to narrow the focus on the terms of the deal between the parties.
In the 4th Quarter of 2015 the Company sent out samples and pricing of Nate’s Homemade Pancake and Waffle Batter to a diverse group of retailers and distributors. The feedback was that the product is great, but the price is not competitive and the size of the can is not kid friendly. In addition, the majority of retailers expressed interest in a wheat based product that was not gluten free.
To address the retailers concerns, the Company has redeveloped the product to be competitive in its ingredients, packaging and marketing.
1. Offering a less expensive, “wheat based version" formulation, with the same flavor profile as the previous formulation. A gluten free formulation is still available for retailers who express interest. The cost savings is 70%.
2. Switched to a non-custom smaller can 55x154. Production of the 55x154 cans are available monthly by CCL container in the millions. The cost savings is 85%.
3. Eliminated the shrink sleeve label, which required extra labor to sleeve the cans, and moved to printing directly on the cans. The cost savings is 40%.
4. All of these cost savings will lower the retail price by 50%-80%, and will initiate more impulse and first time buyers.
5. Moving to a can size that is more kid friendly will open up new marketing opportunities, as well as merchandising options on the store shelves.
7. Multi flavor packs are in development for box stores that will offer competitive pricing.
These changes prevented Nate’s Homemade from launching at the end of 2015. All materials and packaging is on order for new size. ABCO is refining the production line to accommodate upwards of 6,000 cans per batch. The goal is to be in production with these changes in 60 days.
Dated: January 21, 2016. The Company is pleased to introduce JEFF WEST, who has been working with the Company for the past year as a senior consultant and who has now agreed to accept the newly created position of Director of Sales Operations for both domestic and international retail sales. Jeff has a BA in psychology and an MBA in business administration, both awarded by the University of California, Irvine. Jeff has owned his own company since 2006, and he has been working in global sales, marketing, business development and product distribution since 2000. Jeff has ongoing relationships with BW Beverages, Oak Ridge Winery and Best Foods. Jeff has travelled to and built strategic business partnerships with companies in over 40 countries and has a well established business presence in the international sales and consulting market. Jeff is currently representing the Company in talks with a broad range of grocery retailers including Kroeger Stores, Costco, Sam’s Club and Walmart, as well as other stores throughout America and in several overseas markets.
Dated March 3, 2016. The Company is dispatching our Director Sales Operations, JEFF WEST, to China and other stops in East Asia on March 4, 2016. Jeff has set up meetings over the coming weeks with several companies who are interested in distributing Nate's Homemade Pancake and Waffle Batter throughout the region. Jeff has extensive experience in working with companies in China and other countries in Asia, and has worked with them in the past in introducing and marketing new products into their marketplaces. Prior to working with the Company, J eff has owned his own company since 2006, and he has been working in global sales, marketing, business development and product distribution since 2000. We are confident that his experience and contacts in the region will enable the Company to successfully explore and develop new marketing opportunities for our products.
In order to clarify any confusion and in response to communications coming in regarding the 8-K, posted earlier today, Nate’s Food Co is and has always been pursuing domestic retail sales. Jeff West’s trip overseas is to follow up on opportunities he has been vetting internationally for months. His trip in no way intimates that the Company is not pursing domestic sales. As stated previously, Nate’s Food is pursuing domestic and international sales in parallel tracks.
On April 11, 2016, the Company sent samples to Kroger’s Corporate Office and New Product Evaluation Division. Jeff West is having ongoing conversations with Krogers to determine next steps.
The Company also sent samples to QVC for evaluation and Jeff West is following up with his contacts at QVC for next steps.
Since April 24th, 2016, the Company has been in negotiations with large manufacturing concern regarding a private label licensing agreement for Nate’s Pancake and Waffle Batter. The manufacturing group has represented that through their distribution network they will be able to sell over 2,000,000 units per month. Since April 24th, 2016, the Company has been in negotiations with large manufacturing concern regarding a private label licensing agreement for Nate’s Pancake and Waffle Batter. The manufacturing group has represented that through their distribution network they will be able to sell over 2,000,000 units per month.
Dated: May 4, 2016. On April 28 th , 2016, the Company sent samples and product information to ConAgra's Innovation Group for evaluation. ConAgra expressed interest in evaluating Nate’s Homemade Pancake and Waffle Batter and the samples were sent in response to their request. ConAgra has maintained an interest in aerosol batters due to their long term relationship with Nate Steck. Their initial response to the product was positive and the samples are now being evaluated by the Innovation Group at ConAgra.
Dated: May 19, 2016. Since April 24 th , 2016, the Company has been in negotiations with large manufacturing concern regarding a private label licensing agreement for Nate’s Pancake and Waffle Batter. On May 18 th , 2016, the Company signed a Letter of Intent outlining the terms of the 10 year licensing agreement. The Company expects the final negotiations of the contractual terms will be completed over the next 90 days and the licensee plans to begin production within 120 days of execution. The Company anticipates the royalties received from the sale of the licensee’s product will significantly contribute to the Company’s revenue.
Dated: August 18, 2016. Since April 24 th , 2016, the Company has been in negotiations with large manufacturing concern regarding a licensing agreement for Nate's Pancake and Waffle Batter. On May 18 th , 2016, the Company signed a Letter of Intent outlining the terms of the 10 year licensing agreement. Although it has now been just over 90 days, the Company is still actively engaged in the final negotiations of the contractual terms and provisions. Numerous complex details have already been addressed, but several issues still remain, including matters related to the licensee co-packing Nate's Pancake and Waffle Batter for the Company. The Company anticipates significant costs reductions will be available by taking advantage of the facilities of the licensee for co-packing services. The Company expects the negotiations will be completed in the coming weeks. The licensee still plans to begin production within 120 days of final execution. The Company anticipates the royalties received from the sale of the licensee's product will significantly contribute to the Company's revenue.
n December 8, 2016, the Company met with the senior buyer for Bristol Farms grocery stores. Our meeting was very successful, and we can announce that Bristol Farms will become our 1 st retail grocery store customer. Bristol Farms is an independent grocery store chain in California focused on marketing to an affluent customer base. The Company has provided Bristol Farms everything required to complete the vendor certification process over the next 30 days. The buyer is preparing purchase orders for delivery of Nate’s Homemade Pancake and Waffle Batter to begin after February 1, 2017. The Company is currently setting up a schedule for in-store demonstrations at Bristol Farms stores in order to introduce customers to the great taste, convenience and simplicity of our product. The Company is confident that our relationship with Bristol Farms will open doors with other grocery chains and contribute significantly to the Companies growth during 2017.
On February 7, the Company was notified by Bristol Farms that they will not be placing an order for product at this time.
On December 21, 2017, the Company entered into an agreement with two Consulting groups who will be working together on behalf of the Company, expanding our presence in the retail food industry. The Consultants will be providing sales, marketing, distribution, logistics and financial management advice and assistance. Since the beginning of the year, the Consultants have commenced meetings with retailers and established relationships with brokers and product fulfillment centers in order to improve the efficiency of our online sales through the Company’s website. The Consultants are also building out the Company’s online presence through social media to increase online sales.
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