Odd Burger Corporation Stock Price, News & Analysis

The Power Play by The Market Herald has released new interviews with Odd Burger, ARway.ai, and Homerun Resources, discussing their latest news:

1. Odd Burger (TSXV:ODD) (OTCQB:ODDAF) will be the title sponsor at VegTO Fest, Ontario's largest vegan festival, taking place in Toronto from September 9th - 10th 2023.

2. ARway.ai (CSE:ARWY) (OTCQB:ARWYF), an AI-powered Augmented Reality Experience platform, announces its transition to a SaaS business model.

3. Homerun Resources (TSXV:HMR) has executed a confidentiality commitment document with Companhia Baiana de Pesquisa Mineral to explore and develop high-purity quartz silica resources in Belmonte, Bahia, Brazil.

These interviews provide investors with quick snapshots of the companies' latest developments through exclusive insights from company executives.

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Odd Burger Corporation (OTCQB: ODDAF) announced the addition of Marc Goodman, former Vice President and General Manager of 7-Eleven Canada Inc., to its Board of Directors as of March 13, 2023. Goodman brings over 20 years of experience from his previous role at Suncor Energy and has a record of optimizing operational efficiency and increasing sales. Under his leadership, 7-Eleven Canada launched a plant-based breakfast sandwich in January 2023, which is available at over 550 locations. CEO James McInnes expressed excitement about Goodman's extensive retail experience contributing to Odd Burger's growth.

Odd Burger Corporation reported its Q1 financial results for the fiscal year ending September 30, 2023, showing a 12% revenue increase to $785,511 and a gross margin improvement of $41,150 compared to last year. Despite challenges from Winter Storm Elliot affecting December revenue, the company's underlying performance was strong, highlighted by a 30% sales increase in its food manufacturing division and a 179% rise in franchise fee revenue. Odd Burger is expanding its asset-light franchising strategy with 13 additional units planned and has completed its U.S. Franchise Agreements, preparing to enter the U.S. market in 2023.

Odd Burger Corporation has launched the Odd Stock Program, an innovative franchising initiative that enables franchisees to waive their franchise fees by investing an equivalent amount in the Company through a private placement or purchasing shares on the open market. This new approach aims to significantly enhance franchise unit growth, with expectations of ten more locations in Canada and two international projects. The program has already drawn $495,000 in investments, surpassing the $355,000 in franchise fees collected for FY2022. Odd Burger's initiative stands out by allowing franchisees to directly benefit from the Company's success.

Odd Burger Corporation (OTCQB: ODDAF) announced impressive financial results for the fiscal year ending September 30, 2022, showcasing record revenue growth. Yearly revenue increased by 115.5%, reaching $2,952,028, up from $1,169,334 in 2021. The fourth quarter also marked the highest revenue at $835,779, compared to $384,745 a year prior. While operating loss improved by 17.1%, the total annual loss stood at (4,285,736). Despite inflationary pressures, the company anticipates growth with over 10 new locations in Canada and plans for U.S. expansion.