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Naturally Splendid Enterprises Ltd. (OTC PINK: NSPDF) reported its unaudited financial results for the first quarter of 2021, revealing a net loss of $743,636, improved from a loss of $1,320,761 in Q1 2020. Revenue decreased by 5% year-over-year to $253,378, attributed mainly to lower sales in private label bars and bites. Gross profit margins fell to 13%. Significant cost reductions were achieved in selling and administrative expenses, aided by government wage subsidies. The company is transitioning its focus to higher-margin products, notably the NATERA™ Plant Based Foods line.
Naturally Splendid Enterprises Ltd. has appointed CANEX Foods as the Master Distributor for its NATERA Plant Based Foods line in Canada. This strategic partnership is expected to lower operating costs and enhance service levels through improved logistics and inventory management.
CANEX Foods, established in 1985, has ordered fourteen pallets of NATERA products, responding to the growing demand for plant-based options driven by flexitarian consumers. CEO J. Craig Goodwin emphasizes that this relationship aligns with Naturally Splendid's objectives to meet changing dietary trends.
Naturally Splendid Enterprises Ltd. has received a third shipping container of Natera Plant Based Foods from Australia, reflecting growing demand. This follows increased purchase orders in anticipation of expanding distribution and eCommerce. Natera’s product line includes a variety of plant-based items. According to research, plant-based food demand is rising significantly, with a market value of $7 billion in the US. The CEO emphasizes inclusivity in dietary choices, aiming to support consumers transitioning to plant-based diets.
Naturally Splendid Enterprises Ltd. has appointed Drago Adam to its Advisory Board, enhancing its marketing capabilities. Drago, a former professional athlete and marketing expert, founded The Adam Ad Group over 23 years ago and has a track record of managing significant marketing campaigns. His experience aligns with Naturally Splendid's focus on the plant-based market, promising innovative marketing strategies. CEO J. Craig Goodwin expressed enthusiasm for Drago's unique background and anticipated contributions to increase consumer awareness of the company's product offerings.
Naturally Splendid Enterprises Ltd. (OTC:NSPDF) has announced the final preparations for a Health Canada approved phase 2 clinical trial of its drug candidate, Cavaltinib™, aimed at treating COVID-19. The trial will explore Cavaltinib™'s ability to reduce hospitalization risks for high-risk patients by inhibiting cytokine production linked to severe COVID-19 symptoms. The company has secured laboratory space and manufacturing capacity in anticipation of successful trial outcomes. The evolution of SARS-CoV-2 underlines the necessity for new treatments like Cavaltinib™ as variants pose ongoing health risks.
Naturally Splendid Enterprises Ltd. has received a Purchase Order for a fifth container of hulled hemp seed from South Korea. This marks a notable increase in orders since March 2020, benefiting from established relationships dating back to 2016. The company emphasizes its plant-based initiatives, including its NATERA Plant-Based Foods line, which offers over 40 ready products. CEO Craig Goodwin highlights growing consumer demand for plant-based foods. The company operates a Safe Quality Food certified facility and plans to expand its product offerings.
Naturally Splendid Enterprises Ltd. has appointed Mr. Kris Tarr as VP of E-Commerce. He joined the company in 2020 as an Advisor and has since taken on a more prominent role. With extensive experience at major companies like Coca-Cola and Disney, Tarr aims to enhance the company's e-commerce and social media strategies. A recent survey indicates that online food shopping in Canada has significantly increased, and the CEO emphasizes the importance of online strategies amid shifting consumer trends. The company also continues to innovate in healthy food products and has a phase 2 clinical trial approved for COVID-19 treatment.
Naturally Splendid Enterprises Ltd. (OTC PINK:NSPDF) announced a $612,865 cash increase from the exercise of warrants at $0.055, totaling 11,143,000 shares. This follows a prior $254,980 raised on March 5, 2021, bringing the total to $867,854. CEO Craig Goodwin highlighted that this capital will boost initiatives in plant-based foods and e-commerce. Additionally, the company has partnered with BCIT for a survey exploring Gen-Z and millennials' awareness of plant-based foods, which aims to inform future product development.
Naturally Splendid Enterprises Ltd. (OTC:NSPDF) has received a new Purchase Order for 20 tonnes of hulled hemp seed from South Korea, marking its fourth shipment since March 2020. The growing demand for plant-based nutrition supports this initiative, with approximately 1.5 million consumers in South Korea pursuing plant-based diets. The company is focused on expanding its plant-based product offerings and has new product lines nearing launch. Additionally, it has approval for a phase 2 clinical trial for COVID-19 treatment through its joint venture.
Naturally Splendid Enterprises Ltd. (TSXV:NSP, OTC PINK:NSPDF) announced the exercise of warrants generating $254,980. This resulted in the issuance of 4,636,000 common shares at $0.055 each, increasing the total outstanding shares to 206,803,007. CEO Craig Goodwin highlighted the company’s strategic focus on expanding its e-commerce initiatives and NATERA Plant Based Foods to meet rising consumer demand for plant-based products. The company has also developed proprietary extraction technologies for omega oils and is preparing for a phase 2 clinical trial for COVID-19 treatment.
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