Welcome to our dedicated page for Farmmi news (Ticker: FAMI), a resource for investors and traders seeking the latest updates and insights on Farmmi stock.
Farmmi, Inc. (NASDAQ: FAMI) is a well-established supplier, processor, and retailer of agricultural products, specializing in edible mushrooms such as Shiitake and Mu Er, alongside other agricultural products. Founded in 1998, the company has expanded its reach by selling products both online and offline. Farmmi's offerings are known for their high quality, making them popular both within mainland China and internationally.
Recently, Farmmi announced a significant high-volume order for the UK market, half of which is for new customers. This order includes dried and sliced mushrooms, showcasing the company's growing global footprint. Farmmi's strong manufacturing, supply chain, and logistics partnerships have helped contain costs and combat inflation, thereby maintaining stable pricing for its customers. The company aims to use this momentum to further solidify its global brand and achieve profitable revenue growth.
For the six months ending March 31, 2023, Farmmi reported record revenue driven by new growth segments. This achievement came despite a challenging supply chain and logistics environment. The company’s focus on its core agricultural products, combined with new ventures into tapioca and cornstarch trading, underscores its ambition to establish a scalable platform for matching suppliers and customers.
In September 2023, Farmmi shareholders approved a one-for-eight share consolidation to regain compliance with Nasdaq listing requirements. This move is expected to help the company maintain its market presence while continuing to focus on long-term growth and value creation for its shareholders.
Farmmi has also made strides in expanding its customer base in emerging markets. The company received repeat high-volume orders for its dried Shiitake mushrooms from customers in Lebanon, Chile, Canada, and Jordan, among others. These orders highlight Farmmi's commitment to customer support and its ability to leverage local sales and distribution networks effectively.
Overall, Farmmi's robust business model, diversified product portfolio, and strategic market expansions position it well for future growth. The company's strong financial health, exemplified by a cash balance of $69.4 million as of March 31, 2023, and successful handling of operational challenges, further bolster its growth prospects.
Farmmi, Inc. (NASDAQ: FAMI) announced it has cured its bid price deficiency and regained compliance with Nasdaq's listing standards as of June 22, 2022. This notification resulted in the cancellation of a scheduled hearing before the Nasdaq Hearings Panel. Consequently, Farmmi's stock will continue to be listed and traded on Nasdaq, allowing the company to maintain its market presence. Founded in 1998, Farmmi specializes in the supply, processing, and retail of agricultural products, notably mushrooms.
Farmmi, Inc. (NASDAQ: FAMI) announced its expansion into North America with a new sales order for dried Shiitake mushrooms to Mexico. CEO Yefang Zhang highlighted the order's strategic importance, reinforcing Farmmi's presence in North America and the strong global demand for high-quality agricultural products. The company emphasizes food safety and its certified production processes, positioning itself favorably in the market. This initiative is part of Farmmi's ongoing efforts to increase shipments to Mexico.
Farmmi, Inc. (NASDAQ: FAMI), a supplier of agricultural products based in China, has secured a repeat order for dried Shiitake mushrooms from a long-term customer for export to England. CEO Yefang Zhang highlighted that the company's commitment to product excellence and a robust logistics network has facilitated the growth in sales, enabling them to win back-to-back orders. Farmmi aims to leverage its customer base and infrastructure to enhance growth and shareholder value.
Farmmi, Inc. (NASDAQ: FAMI), a Chinese agricultural products supplier, announced a new sales order for dried Shiitake mushrooms destined for Canada, enhancing its ongoing sales efforts. CEO Yefang Zhang emphasized the company's strategy to grow sales through infrastructure investments and increased marketing efforts. Despite challenges from COVID-19, Zhang indicated that Farmmi has emerged in a stronger financial position, committed to maximizing shareholder value. The company focuses on customer engagements to expand its market presence.
Farmmi, Inc. (NASDAQ: FAMI), a leading agricultural products supplier in China, announced a new sales order for dried Shiitake mushrooms destined for Japan. Yefang Zhang, Chairwoman and CEO, highlighted Asia's dominance as the largest fungi market, emphasizing the company’s strong supply relationships and market position. Established in 1998, Farmmi specializes in edible mushrooms and sells products both offline and through its direct-to-consumer platform. The company continues to capitalize on growth opportunities within Asia, targeting discerning consumers.
Farmmi, Inc. (NASDAQ: FAMI) has appealed a Nasdaq delisting determination due to its stock trading below $0.10 for ten consecutive days. This triggers a notice of delisting per Nasdaq rules. The Company has 180 days, with a possible extension, to comply with the minimum bid price rule of $1.00. They are seeking to stay the delisting process while awaiting a hearing scheduled within 30-45 days. A share consolidation is expected on May 31, 2022, as part of their compliance strategy to regain Nasdaq listing.
Farmmi, Inc. (NASDAQ: FAMI) announced that its proposed share consolidation of one-for-twenty-five was approved at the shareholder meeting on May 14, 2022. This consolidation aims to regain compliance with Nasdaq's listing rules, effective May 31, 2022. Consequently, outstanding ordinary shares will shrink from approximately 557.98 million to around 22.32 million shares. The authorized shares will also decrease from 600 million to 24 million shares. Trading will continue under the same symbol 'FAMI' with a new CUSIP number.
Farmmi, Inc. (NASDAQ: FAMI), an agricultural products supplier in China, has joined the National Restaurant Association, enhancing its market presence and credibility. Chairwoman and CEO Yefang Zhang highlighted the strategic advantages of this membership, including increased access to U.S. foodservice buyers and a commitment to improving agricultural practices among Chinese farmers. The company aims to meet U.S. FDA standards while exploring potential production expansions in the U.S. and Canada, signaling significant growth opportunities for Farmmi moving forward.
Farmmi, Inc. (NASDAQ: FAMI) announced a new sales order for Shiitake mushrooms, set to be exported to England. Chairwoman and CEO Yefang Zhang highlighted the growing interest in culinary uses of mushrooms, particularly for enhancing traditional meat dishes, stews, and salads. The company expects continued demand growth, reflecting successful efforts from its sales and marketing teams to establish a presence in Europe. Established in 1998, Farmmi specializes in edible mushrooms and offers direct-to-consumer sales via its website.
Farmmi, Inc. (NASDAQ: FAMI) announced on May 20, 2022, that Nasdaq determined to delist its securities due to a closing bid price below $0.10 for ten consecutive trading days. The Company does not meet the Minimum Bid Price Rule, which requires a closing bid price of $1.00 or higher. Farmmi has a compliance period of 180 days to rectify this issue, which expires on May 30, 2022. The Company plans to appeal the determination, and trading suspension is set to begin on June 1, 2022, unless the appeal is successful.
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