Jeffs Brands - JFBR STOCK NEWS

Jeffs' Brands Ltd has received a notice from Nasdaq stating that it is not in compliance with the minimum bid price requirement. The company has been granted a 180-day grace period to regain compliance. If it fails to do so, it may be subject to delisting.

Jeffs' Brands Ltd has successfully reduced time and costs associated with launching new products on the Amazon Marketplace by leveraging AI-based tools. They have used ChatGPT to streamline product development and customer support processes, leading to increased efficiency and productivity. The company has also benefited from ChatGPT's ability to analyze customer preferences and sentiment, allowing them to make data-driven decisions for product development and marketing strategies. By implementing AI-powered chatbots, Jeffs' Brands has further optimized their product design process, reducing the need for freelancers and remote vendors. The CEO emphasized the positive impact of their data-driven approach on both the company and customer experience.

On March 28, 2023, Jeffs' Brands Ltd (Nasdaq: JFBR) announced the completion of a $3 million acquisition of approximately 49% of SciSparc Nutraceuticals Inc., a subsidiary of SciSparc Ltd. (Nasdaq: SPRC). This purchase includes $2.5 million in cash plus an additional $489,330 for inventory adjustments. As part of the deal, Jeffs' Brands will issue 247,415 shares to SciSparc, while SciSparc will reciprocate with 360,297 shares. The consulting agreement between the two companies entails management services for the Wellution brand, with a monthly fee of $20,000. The Wellution brand is reported to be profitable, with significant gross annual sales on the Amazon marketplace.

Jeffs' Brands Ltd (Nasdaq: JFBR, JFBRW) announced its entry into the U.S. market by launching sales of its pest control products on Amazon. Previously, these five private label brands generated approximately $5.8 million in revenues in 2022, primarily in the UK. The North American rodent control market is valued at about $1.6 billion, with a projected growth rate of 5.2%.

The company acquired Fort Products Ltd for £1.6 million (approximately $1.92 million), looking to leverage its advanced marketing techniques and expertise to drive future growth.

Jeffs' Brands Ltd (Nasdaq: JFBR, JFBRW) has announced the acquisition of Fort Products Ltd, a U.K.-based pest control company, for approximately £1.6 million (about $1.92 million), with an estimated total adjusted purchase price of £2 million (approximately $2.4 million). Fort, a leader in pest control on Amazon.uk, generated revenues of about £4.8 million ($5.8 million) in 2022. This acquisition aims to expand Jeffs' product reach into new territories and online platforms. The transaction's completion is contingent on employee settlement agreements and is expected to enhance Jeffs' growth in the pest control market, which is projected to grow significantly by 2028.

Jeffs' Brands Ltd (Nasdaq: JFBR) has announced a definitive agreement to acquire approximately 49% of SciSparc Nutraceuticals Inc. for $2.5 million in cash. The subsidiary owns Wellution™, a profitable brand with millions in gross annual sales on Amazon. The deal also includes a share exchange valued at $300,000. Jeffs' Brands will manage Wellution under a consulting agreement, receiving $20,000 monthly. Wellution offers a range of hemp-based products, with significant customer approval, including a #1 best-selling hemp candy launched in 2019. The transaction is expected to close within seven business days, subject to customary conditions.

Jeffs' Brands Ltd (Nasdaq: JFBR) announced a collaboration with SuperBuzz Inc., an AI marketing technology company, through a non-binding letter of intent (LOI) on February 22, 2023. The partnership aims to create an AI-based software tailored for Amazon's advertisement platform, enhancing targeting and campaign effectiveness for Jeffs' Brands. As part of this collaboration, Jeffs' Brands may invest up to $2 million in SuperBuzz. CEO Viki Hakmon expressed confidence in the partnership's potential to elevate marketing efforts and drive sales growth.

Jeffs' Brands Ltd (Nasdaq: JFBR) announced a non-binding letter of intent to acquire 50% of SciSparc Nutraceuticals Inc. for approximately $3 million. SciSparc’s brand, Wellution, specializes in profitable food supplements and cosmetics on Amazon, boasting millions in annual sales. The acquisition is subject to a definitive agreement and no guarantees exist regarding its completion or terms. Wellution’s products, including hemp-based supplements, have garnered over 40,000 reviews on Amazon, with top sellers consistently ranking high in their category.

Jeffs' Brands Ltd (Nasdaq: JFBR) reported a strong performance on Black Friday 2022, generating approximately $190,000 in revenues, up 60% from $118,055 in 2021. This increase aligns with broader e-commerce trends, as Black Friday online spending reached a record $9.2 billion.

CEO Viki Hakmon expressed optimism, noting improvements in product offerings and marketing strategies, and anticipates continued success into Cyber Monday.