PHOENIX, Aug. 21, 2018 (GLOBE NEWSWIRE) -- MamaMancini's Holdings, Inc. (OTCQB:MMMB) (the “Company”), a manufacturer and marketer of specialty pre-prepared, frozen and refrigerated all-natural food products (as defined by the United States Department of Agriculture), today announced its Chairman and CEO, Carl Wolf, was interviewed by Everett Jolly on Uptick Newswire’s “Stock Day” Podcast.
Jolly said that he had invited a brand new guest on the Podcast and that he’s “super, super excited” to have him on the show. MamaMancini’s got on Jolly’s radar about six months ago. “Carl, welcome to the show! Give my listeners an about statement of who you are and then I want to get into the Q&A.”
Wolf responded, “We’re a company that manufactures and markets all-natural perishable foods that are sold in the perimeter of supermarkets in the deli prepared food sections, take home, ready meals, hot bars, sandwich shops and we are currently in about 45,000 locations. Taste panels have shown that 92% of our customers intend to buy again, so they’re very happy with our products.”
Wolf continued that, “The Company has received a number of major authorizations, including Walmart, Sam’s, Costco, Albertson’s, Safeway and other familiar names. These are for new items that will start being distributed in September through November 2018. If all goes well, we should go up from 45,000 locations on retail food store shelves to around 75,000 in the next several months.”
Jolly noted, “You guys did $7.7 million last quarter, over $5.4 the year before that. If you take that 4 times 4, you’ve got around $28-30 million. Your market cap’s only $24 million. Don’t you feel that your company is undervalued here?”
Mr. Wolf stated that “every CEO feels that their stock is undervalued.”
Jolly asked about Amazon’s acquisition of Whole Foods and wanted to know if that had impacted the Company in any way.
Wolf indicated that it has had a positive effect in that Amazon is focusing on higher quality and take-home prepared foods. So, in order to compete with Amazon, the other chains are increasing their quality and availability. Because MamaMancini's products are all natural and taste delicious, those are the kinds of products in which the industry has shown significant interest.
After reviewing some of the metrics, Jolly stated that his opinion is that the Company is way undervalued. He also thinks MamaMancini’s is a great Company due to its outstanding management. He then wanted his listeners to know where the Company is going from here.
CEO Wolf responded that MamaMancini’s significantly increased its production capacity this summer. He stated that he believes that, as the Company evolves into more products, more chains, into food service, into components of other products and geographically into Canada, Mexico and the Caribbean to begin with, MamaMancini’s could be a $300 million company over a period of years.
Jolly inquired whether they anticipate needing to raise more equity to finance all this growth. “No,” Wolf replied. “We believe our cash flow will be sufficient to retire existing obligations as they become due and support operations.”
“Right now, the key to the business for us is to work it.”
Wolf concluded that they hope to be able to up list to NASDAQ or another more prominent market in the next year, which could support and create greater liquidity and a much higher valuation for the Company.
For more information about the Company, listen to the full interview at the link below:
The Company’s financial statements and SEC filings may be accessed at:
About MamaMancini’s Holdings, Inc.
MamaMancini’s was founded in 2010 and is a manufacturer and distributor of a line of all natural, beef meatballs with sauce, turkey meatballs with sauce, chicken meatballs with sauce, pork meatballs with sauce, and other similar Italian products. The Company’s sales have been growing on a consistent basis as the Company expands its distribution channel, which includes major retailers such as AGI Stores, Albertsons, C&S, Central Grocers, Central Markets, Costco, Food Town, Giant Eagle, Giant Stores, Hy Vee, Ingles, Jewel, Key Foods, King Kullen, Kings, Kroger, Shoppers, K-V-A-T Stores, Lowes Stores, Luckys, Lunds/Byerly’s, Publix, Roche Brothers, Safeway, Sam’s Club, SaveMarts, Schnuck Markets, Shaw’s Supermarkets, Shop Rite, Spartan Stores, Stop-n-Shop, SuperValu, Sysco, The Fresh Market, Topps Supermarkets, Weis Markets, Whole Foods, as well as QVC, the world’s largest direct to consumer marketer.
Safe Harbor Act and Forward-Looking Statements:
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Additional information concerning these and other risk factors are contained in the Company’s most recent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
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