NATURALLY SPLNDD ENTPRSE - NSPDF STOCK NEWS

Naturally Splendid Enterprises Ltd. has reported its unaudited financial results for the six months ending June 30, 2022. The company experienced a net loss of $1,316,236, a slight improvement from a loss of $1,403,685 during the same period in 2021. Sales decreased by approximately $313,000, totaling $157,314, with declines in private-label bars and branded hemp products. However, customer response at trade shows was positive, leading to new accounts for the Plantein line. The company has secured a 10-year manufacturing and distribution agreement with Flexitarian Foods.

Naturally Splendid Enterprises Ltd. (OTC PINK:NSPDF) has announced a proposed consolidation of its common shares at a ratio of up to 15:1. This aims to attract future financing, enhance investor interest, and improve trading liquidity. Currently, there are 330,624,458 shares outstanding, which would reduce to approximately 22,041,631 shares post-consolidation. The consolidation is pending approval from the TSX-V and shareholders, with a meeting scheduled for August 30, 2022. The company does not plan to change its name during this process.

Naturally Splendid Enterprises Ltd. (OTC PINK:NSPDF) has announced the revocation of a management cease trading order (MCTO) issued by the British Columbia Securities Commission. The MCTO was initially requested due to the inability to file annual financial statements by the deadline. The required financial documents for 2021 and Q1 2022 were filed, allowing trading restrictions to be lifted. CFO George Ragogna noted a focus on strategic plans and manufacturing plant-based products despite some delays in equipment.

Naturally Splendid Enterprises Ltd. (OTC PINK: NSPDF) reported a net loss of $747,787 for Q1 2022, slightly down from $767,478 in Q1 2021. Sales fell to $93,453, a decrease of approximately $160,000, primarily due to impacts from COVID-19. Despite these challenges, gross profits increased to $38,990, with gross margins rising to 41.7% of sales. The company is shifting its focus towards plant-based products, having established a long-term partnership with Flexitarian Foods, which is expected to enhance product margins in the future.

Naturally Splendid Enterprises Ltd. (OTC:NSPDF) has received a new shipment of Plantein Plant-Based Foods from Australia, following interest generated at recent tradeshows, including the Canadian Health Food Association NOW and Planted Expo. This shipment aims to replenish inventories to meet rising demand. Executive VP Bryan Carson highlighted ongoing sales efforts through national distributors such as Sysco Canada and Gordon Food Service. The company continues to expand its offerings in the healthy food market, with new products in development and a phase 2 clinical trial approved for COVID-19 treatment.

Naturally Splendid Enterprises Ltd. has released its audited financial results for the fiscal year ending December 31, 2021. The company reported a net loss of $3,269,452, reduced from $4,659,642 in 2020, thanks to decreased selling and administrative expenses. Sales dropped to $763,796 from $1,576,408, primarily due to declines in private-label products. However, the gross profit margin improved to 10.8%, up from 7%. The company is focusing on expanding its plant-based product line and has secured a 10-year agreement with Flexitarian Foods for manufacturing and distribution.

Naturally Splendid Enterprises Ltd. (OTC:NSPDF) provided an update regarding its management cease trade order (MCTO) issued by the British Columbia Securities Commission. The company is required to update investors bi-weekly until it meets its filing obligations. Currently, there are no material changes since the April 14, 2022 release, and they are working to complete the necessary filings by June 30, 2022. The company continues to comply with NP 12-203 guidelines and maintains an active relationship with Plasm Pharmaceutical for a COVID-19 treatment trial.

Naturally Splendid Enterprises Ltd. (TSX-V:NSP, OTC PINK:NSPDF) showcased its Plantein™ line of plant-based entrees at the Planted Expo in Vancouver on June 4-5, 2022. The event, aimed at promoting plant-based diets, facilitated inquiries from local retailers about product listings. The company’s VP highlighted the positive response from attendees and ongoing online orders. Naturally Splendid operates a certified food manufacturing facility and maintains a 10-year distribution agreement with Flexitarian Foods. The company also develops proprietary technologies for healthy oil extraction.