Organto Foods Stock Price, News & Analysis

Organto Foods Inc. announced record financial results for Q3 2020, achieving revenues of $2,737,081—a 41% increase year-over-year—marking the largest quarterly revenue in its history. Year-to-date revenues rose 206% to $6,510,856, surpassing 2019's total. Gross profit also hit a record of $285,951, up 65% year-over-year. The company expects Q4 revenues between $4.4 million and $4.6 million, projecting a 185% increase from Q4 2019. Additionally, 96% of convertible debentures were converted to equity, strengthening the balance sheet.

Organto Foods Inc. announced the appointment of Willem Fiering as Business Development Manager, who brings over 35 years of experience in the fresh fruits and vegetables sector. His expertise will strengthen Organto's commercial team as the company expands in the healthy eating market. Additionally, Organto disclosed the issuance of 990,795 shares to convert CDN $84,079.50 of debt into equity and the exercise of warrants resulting in the purchase of 704,872 common shares. These developments reflect the company's ongoing efforts to enhance its financial position and market presence.

Organto Foods Inc. has appointed Ana Cristina De la Campa as General Manager of LATAM Operations and On-Line Business Development Manager. With a strong background in food science and e-commerce, she aims to enhance organic sourcing and develop online distribution strategies. The company has also engaged Relations Publiques Paradox for investor relations, committing to a monthly fee of CDN $10,000 and issuing 1,000,000 options at $0.10. Organto reports five consecutive quarters of record revenue and margin growth, highlighting its potential for shareholder value creation.

Organto Foods Inc. has announced record third quarter revenue guidance for the period ending September 30, 2020, projecting revenues of approximately CDN $2.6 to CDN $2.7 million. This constitutes over a 30% increase compared to the same quarter last year, marking the fifth consecutive quarter of record revenues. The company aims for an annualized revenue run rate of CDN $20 million by year-end and expects to reach cash-flow breakeven. Strong sales of organic products like avocado, ginger, and asparagus are driving this growth.

Organto Foods Inc. announced the expansion of its organic ginger program and the introduction of organic turmeric to its portfolio. The company, which began distributing organic ginger from Peru in 2018, is now sourcing ginger from Brazil to meet increased demand. This diversification aims to enhance product availability and variety. Additionally, turmeric will be supplied by the same partner, leveraging existing supply chains. Organto anticipates weekly sales for these products to reach CDN $40,000 to $60,000 by year-end and a long-term goal of CDN $5 million in annual revenues.

Leadership Changes at Organto Foods

Organto Foods Inc. has made significant leadership appointments to enhance its growth trajectory. Steve Bromley, currently Chair and Interim CEO, will serve as Co-CEO alongside Rients van der Wal, the Chief Operating Officer. Ralf Langner will take on the role of Chief Financial Officer, while Peter Thibaudier becomes CFO for Organto Europe. The company has also granted 700,000 stock options to a service provider and director. These changes come after four consecutive quarters of record revenue and gross profit growth, positioning the company well for future expansion.

Organto Foods Inc. (OTC PINK: OGOFF) announced the launch of social media platforms on LinkedIn, Twitter, Instagram, and Facebook, along with enhancements to its website to improve user interaction. Steve Bromley, Chair and Interim CEO, emphasized the company's commitment to disseminating information about the benefits of organic produce. The upgraded website enables easier navigation, providing insights into Organto's mission and products, while encouraging subscriptions for updates on market developments and new offerings.

Organto Foods Inc. (OTC PINK:OGOFF) announced the appointment of Joost Verrest to its board of directors, pending TSX Venture Exchange approval. With over 20 years of experience in developing sustainable businesses in global fruits and vegetables and consumer packaged goods, Verrest has a proven track record of transforming companies. His tenure includes leadership roles at Total Produce Direct BV and Chiquita Brands, enhancing market presence and brand value. This strategic addition aims to enhance Organto's capabilities in meeting growing demand for organic produce while adhering to sustainable practices.

Organto Foods Inc. has announced the acceptance of its common shares for listing on the Frankfurt Stock Exchange (FSE) under the symbol OGF. This move is expected to enhance trading liquidity and expand the shareholder base. CEO Steve Bromley highlighted strong European investor demand for socially responsible organic food companies. The FSE ranks as the world's third-largest exchange by turnover, providing advanced trading systems that cater to cross-border trading needs.