SAINT PETERSBURG, FL, Dec. 06, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire –Dear Valued Shareholders,
We are excited to share significant developments in our journey, as we complete the transition from a solely broadcasting-focused entity to a dynamic company specializing in product development, sales, and marketing. This transformation began in 2020 amidst the pandemic and has evolved into a robust operation with the acquisition of a majority stake in Simply Whim, a growing health and beauty company featuring the Whim brand.
The Marquie Group's inception was fueled by the need to innovate as the traditional revenue models in network radio were becoming less viable. This challenge led us to explore new opportunities, culminating in the integration of product ownership with our broadcasting network Music of Your Life. This strategic move was exemplified by our partnership with Whim.
Whim has successfully launched seven beauty products, with several more in the pipeline. Our new standout products in development include VitaWhims and the Whim Patch, which are part of the rapidly growing gummy vitamin and wellness patch markets. These markets are expected to experience significant growth in the coming years.
After several months negotiating a trademark deal with Ulta Beauty regarding the Whim brand, we have verbally agreed to terms and are waiting for the necessary documents. We are excited over the prospects of sharing the Whim brand with such a well-recognized player in the health and beauty marketplace. This holds significant promise for the company in multiple ways!
In addition to Whim, we are currently in development with two exciting new innovative products, Insanitea and Sanitea, a mashup between the burgeoning nootropics and tea markets, with the functional beverage market. Another upcoming product, AminoMints, will further enhance our Inner Nutrition range by offering an introduction to amino acids with a healthy, sugar-free chewable mint. AminoMints is currently undergoing a reformulation process.
With adequate resources, all new products should hit the market in 2024.
To ensure these ambitious projects are well-funded, we have engaged with the boutique investment firm MACRAB through an equity line agreement. This arrangement involves the strategic sale of stock based on a Forward-Looking Pricing model. The details can be found in our most recent 10q and 10k. Over the past two months, this method has enabled us to raise approximately $63,864 by selling 182M shares. We will continue leveraging this model until our operations are self-sustaining through generated cash flow.
Our funding strategy was necessitated by the lack of liquidity and investor interest when we first sought capital. The equity line agreement with MACRAB offers us much more favorable terms, enabling us to raise the necessary capital efficiently.
The estimated cost for developing and bringing each new product to market is roughly $75,000, amounting to a total of $325,00 for the launch of all five planned products. As we start generating steady revenue with these new products and the current Whim product line, we expect to access more traditional forms of capital, reducing the reliance on our company's stock.
Looking ahead, we are optimistic about the additions to our portfolio of innovative health and beauty products scheduled for release in 2024. We project profitability by 2025, with an estimated revenue topping $1M.
Thank you for your continued support and belief in our vision as we navigate this exciting phase of growth and innovation.
Sincerely,
Marc Angell
Chief Executive Officer
Forward-Looking Statements
This shareholder letter may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Company's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.
Marc Angell
800-351-3021
marc@tmgiusa.com
