NightFood Hldg Inc (OTCMKTS: NGTF) made another spectacular move up the charts after the Company announced the second production run of Nightfood ice cream will begin this week, and is scheduled to be completed the week of March 18. As previously announced on February 1, before the national roll-out had begun, Management decided to initiate this second production run shortly after the initial run of over 100,000 pints. Reasons given were newly secured distribution deals combined with the positive consumer feedback and reviews from individuals and media that have tried the product.
This second production run is expected to deliver over 120,000 pints of Nightfood, providing additional inventory for new distribution deals that have been confirmed, but not yet announced publicly. With these new commitments, the ice cream will soon be available at retail in sixteen states across the country. Management has established a target of securing distribution in 10,000 retail outlets by March 31, 2020.
NightFood Hldg Inc owns Nightfood, Inc. and MJ Munchies, Inc. On Feb 8, 2019, it was announced that Nightfood ice cream won the 2019 Product of the Year award in the ice cream category in a Kantar survey of over 40,000 consumers. With the overwhelming majority of at-home ice cream consumption occurring in the hours before bed, Nightfood’s sleep-friendly nighttime ice cream, formulated by sleep and nutrition experts, delivers benefits found in no other product on the market.
MJ Munchies, Inc. was formed in 2018 as a new, wholly owned subsidiary of Nightfood Holdings, Inc. to capitalize on legally compliant opportunities in the CBD and marijuana edibles and related spaces. The Company intends to market some of these new products under the brand name “Half-Baked”. Munchies is currently preparing a patent application with the USPTO for a proprietary ingredient to be used in Half-Baked snacks that Management believes will give it a unique and defensible competitive advantage against other recreational edible brands. The Company believes tremendous opportunities currently exist to launch successful and legally compliant products in this space, and that such opportunities will continue to grow over time.
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Nightfood won the 2019 Product of the Year Award in the ice cream category, in a Kantar survey of over 40,000 consumers, beating out the other finalists with its unique innovation and value proposition. The Nightfood brand has recently been featured in major media outlets such as USA Today, MarketWatch, The Washington Post, Fox Business, and more.
On February 28 NGTF announced over 33,000 consumers across the country have already requested coupons for newly launched Nightfood ice cream by entering the giveaway hosted at NightfoodIceCream.com. The ice cream is currently available in Meijer supermarket locations in the Midwest, and distribution is about to begin throughout New England and Northern California through relationships with New England Ice Cream and Wonder Ice Cream respectively. The majority of the 33,000+ consumers will be receiving a “Buy 2, Get 1 Free” coupon, while some others will either receive a coupon for “Buy 1, Get 1 Free” or a coupon for a free pint with no purchase necessary.
“We’re growing distribution rapidly so everybody will soon have a local store where they can use their coupon,” explained Nightfood CEO Sean Folkson. “On Facebook and Instagram, consumers are begging us to come to their cities. The rollout process takes time, but I encourage investors to pay careful attention to the enthusiasm from both the consumer base and the media. That’s what I believe will enable us to reach our distribution and revenue goals as we continue our national rollout with coming announcements.”
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Currently trading at a $33 million market valuation NGTF is one exciting stock that has been rocketing up the charts since the Company’s ice cream won the 2019 Product of the Year award. This award means the company will receive significant media attention. NGTF has made multiple acquisitions and partnerships that has catapulted them into revenue projections surpassing some of the big boys and their First Quarter Fin’s will show this. We will be updating on NGTF when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with NGTF.
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Disclosure: we hold no position in NGTF either long or short and we have not been compensated for this article.