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. reports developments in agricultural product supply, edible fungi distribution, and logistics services. The company focuses on shiitake mushrooms, wood ear mushrooms, other edible fungi, and agricultural products distributed through established channels to global markets.
Recurring news for FAMI includes U.S. warehouse expansion, food facility registration and other operating permits for logistics subsidiaries, customer and service activity at SuppChains Group and Farmmi USA, and the development of Bluesage Marketing for AI-driven digital marketing services. Company updates also include Nasdaq listing compliance and other corporate actions tied to its public-company status.
Farmmi, Inc. (NASDAQ: FAMI) has been granted a 180-day extension by NASDAQ to comply with the minimum bid price requirement, now effective until April 13, 2021. The company must achieve a closing bid price of $1.00 or higher for at least ten consecutive business days to regain compliance. Farmmi is a leading supplier of agricultural products in China, specializing in Shiitake mushrooms and other edible fungi. The company operates the Farmmi Liangpin Market, connecting consumers to local agricultural products.
Farmmi, Inc. (NASDAQ: FAMI), an agricultural products supplier based in China, announced a follow-on customer order from a trading company for dried mushrooms and black fungus to be exported to Canada. This order is significant as it highlights the demand for healthier food options and farm-to-table practices. CEO Yefang Zhang emphasized the company's strategy to boost revenue and profit through investments in supply chain and food safety enhancements. The order reflects Farmmi's commitment to customer relationships and market expansion amidst growing global interest in nutritious foods.
Farmmi, Inc. (NASDAQ: FAMI), a Chinese agricultural products supplier, announced a follow-on order for dried Shiitake mushrooms from an existing international customer. This marks the eighth order from this client, who will export the mushrooms to Israel. Chairwoman and CEO Yefang Zhang highlighted the increasing demand and repeat orders, attributing growth to improved brand awareness and a robust supply chain. The Company is well-positioned in the agricultural sector, focusing on quality products and a consistent distribution network.
Farmmi, Inc. (NASDAQ: FAMI) reported its financial performance for the six months ending March 31, 2020, revealing a 5.63% decline in revenue to $13.58 million, driven by COVID-19 impacts. Shiitake sales fell by 11.98% to $7.35 million, while Mu Er sales grew 11.41% to $5.76 million. The company achieved breakeven net loss of $0.06 million, improved from a loss of $0.17 million the previous year. Gross profit decreased by 16.54% to $2.12 million. Despite lower revenues, the company maintains a healthy balance sheet with cash reserves of $5.1 million, supporting its long-term growth strategy.
Farmmi, Inc. (NASDAQ: FAMI) will exhibit at SIAL China from September 28-30, 2020, showcasing its agricultural products, especially dried mushrooms and edible fungi. SIAL China, Asia's largest food innovation exhibition, aims to foster business connections in the food and beverage sector. The company emphasizes its commitment to high-quality and ecological products, meeting consumer demands for safety and quality. The event will host over 2,200 exhibitors and expects 60,000 visitors from China and international markets, providing valuable insights into regional trends.
Farmmi, Inc. (NASDAQ: FAMI) announced that its subsidiary, Zhejiang Forasen Food Co, LTD, has passed the BRC Global Standard for Food Safety and HACCP certification audits. This 'Double Certification' validates the company's quality management systems and enables it to maximize expanded production capacity by 20%. The certification follows a major technology transformation project initiated in July 2019, reflecting Farmmi's commitment to food safety and quality. The audits praised the company's food safety practices and management systems, supporting its sales channel development and growth.
Farmmi, Inc. (NASDAQ: FAMI) has announced that its subsidiary, Zhejiang Forest Food Co., Ltd., received a follow-on order for dried black fungus from an existing export customer. This marks the tenth order from this client, who supplies agricultural products globally, with this batch destined for Canada. Chairwoman and CEO Yefang Zhang emphasized the importance of their quality supply chain and the growing demand for their products in key markets, including the U.S. and Canada, indicating strong potential for long-term growth.
Farmmi, Inc. (NASDAQ: FAMI), an agricultural products supplier in China, announced its subsidiary, Farmmi Food Ltd Co., received certification from the China Standard Conformity Assessment Co., Ltd. This certification, authorized by the International Certification Alliance of Lishui Shangeng, signifies adherence to high-quality agricultural standards in the Lishui region. Farmmi's Chairwoman, Yefang Zhang, emphasized the importance of sustainability and strict quality controls, affirming that this recognition supports the company's commitment to modern agriculture and environmentally friendly practices.
Farmmi, Inc. (NASDAQ: FAMI) announced its subsidiary, Zhejiang Forest Food Co., Ltd., received a seventh follow-on order for dried Shiitake mushrooms and other products from an Israeli customer. Chairwoman and CEO Yefang Zhang highlighted the Middle East as a growth market due to increasing consumer demand for nutritious foods. Farmmi aims to leverage its supply chain to fulfill large orders and capture growth opportunities in the region. The company specializes in agricultural products, including various mushrooms, providing a platform for locally sourced goods.
Farmmi, Inc. (NASDAQ: FAMI) has announced that its subsidiary Zhejiang Forest Food Co., Ltd. has secured additional orders for dried mushrooms from a trading company that will export these products to the U.S. and Canada. CEO Yefang Zhang emphasized the company's commitment to food quality and safety, contributing to strong demand for its agricultural products amid a global trend towards healthier food options. Farmmi aims to leverage its extensive supply chain and customer relationships to drive growth.