Pioneering Sleep-Friendly Snacking Company Expands Distribution with Sold-Out QVC Segment & National Hotel Rollout: Nightfood, Inc. (OTCQB: NGTF)
– Sleep-Friendly Snack Company Addressing $50 Billion Nighttime Snack Market.
– Purchase Orders Received for New National Hotel Distribution.
– Nightfood Ice Cream Sold Out Debut on vCommerce Leader QVC(R).
– iDEAL Hospitality Partners Showcases Nightfood Line at Major Hotel Industry Trade Show.
– CEO and Largest Shareholder, Sean Folkson, Extends 100% Share Lock-Up Additional Twelve Months, Into February 2023.
– com Publishes Nightfood Vision of the Future of Hotel Snacking.
– Nightfood Won the Real California Milk Excelerator Competition, Securing $150,000 Top Prize to Support Hotel Launch of Nightfood Ice Cream.
Nightfood, Inc. (OTCQB: NGTF) is pioneering the nighttime snack category. Over 80% of Americans snack regularly at night, resulting in an estimated 700 million nighttime snack occasions weekly, and an annual spend on night snacks of over $50 billion. The most popular choices are ice cream, cookies, chips, and candy. Recent research confirms such snacks, in addition to being generally unhealthy, can impair sleep, partly due to excess fat and sugar consumed before bed. Pepsi, Unilever and Nestle have shown interest in healthier night snacking and sleep-friendly nutrition.
NGTF sleep-friendly snacks are formulated by sleep and nutrition experts to contain less of those sleep-disruptive ingredients, along with a focus on ingredients and nutrients that research suggests can support nighttime relaxation and better sleep quality.
By signing up at ir.nightfood.com, investors can receive updates of filings and news releases in their inbox.
– Initial Purchase Orders Received for Nationwide Hotel Launch
On April 18th, NGTF announced it received its first purchase orders for the national rollout of Nightfood ice cream pints into a major extended-stay hotel chain with approximately 500 locations in the United States. The sleep-friendly ice cream is scheduled to be in the hotel chain’s freezers coast-to-coast in May. The purchase orders include two of the most popular NGTF ice cream flavors, Cookies n’ Dreams, and Midnight Chocolate.
“We’re excited to finally be entering national hotel distribution as a result of our successful pilot test last year,” commented NGTF CEO, Sean Folkson. “I believe hotels have an inherent obligation to make sleep-friendly snacks available for their guests every night and in every location, and this launch of Nightfood is truly breaking new ground. We look forward to proudly sharing more details after Nightfood is available in their locations across the United States.”
Because of the high-margin nature of hotel distribution, Management believes profitability can be achieved when NGTF ice cream pint distribution reaches approximately 4,000 hotels, which is approximately 7 percent of the estimated 56,000 hotels in the United States. NGTF also is in the process of developing additional snack formats such as cookies and single-serve ice cream sandwiches that it hopes to be able to add to national distribution in the coming months.
Folkson continued, “These first purchase orders are so important for reasons beyond our imminent launch into our first major chain. There are tremendous barriers to breaking into national distribution in the hospitality space for a young brand. This is the result of years of hard work. But we believe that it’s also just the start. We expect availability of sleep-friendly snacks to become hotel industry standard. Our goal is for Nightfood snacks, in multiple formats, to be sold in every hotel. We anticipate that securing this coast-to-coast distribution will allow us to rapidly add more hotels to our distribution roster, while also serving as an effective deterrent and defensible competitive advantage against competitors that may wish to enter the sleep-friendly snacking category as we grow it.”
– Nightfood Ice Cream Featured on vCommerce Leader QVC(R)
On April 6th NGTF announced that Nightfood ice cream would make its debut on QVC(R), a world leader in video commerce (vCommerce), on Wednesday, April 6th in the hour between 3 and 4 PM eastern. NGTF founder and CEO Sean Folkson will make his first appearance on QVC to introduce Nightfood snacks.
Nightfood ice cream is formulated for nighttime snacking, with protein, prebiotic fiber, calcium, magnesium, zinc, and vitamin B6. With its creamy texture, great taste, and nutritional profile, Nightfood has thousands of online reviews, averaging well over four stars on Social Nature.
“This is such an exciting opportunity for us to bring the Nightfood story directly to millions of QVC customers,” commented Folkson. “Nighttime cravings can be such a challenge. We’re thankful to be able to leverage QVC’s many digital platforms to let people know that there’s a better way to snack when those cravings hit.”
Available for purchase on any of the QVC platforms and apps is the eight-pint NGTF sample bundle, including four of the most popular NGTF flavors: Midnight Chocolate, Cookies n’ Dreams, Cherry Eclipse, and Cold Brew Decaf.
The Company filed an 8K on April 7 disclosing that NGTF CEO Sean Folkson Tweeted from his personal account (@SeanFolkson): “Great fun on QVC yesterday! sold out of approx. 9,600 pints in 9 mins! Also, lots of people also asking about hotel deal. We communicate with hotel & distributor almost daily. sign-off has finally been granted and we were told to expect orders very soon. But, as in past, delays remain possible… stay tuned!”
– iDEAL Hospitality Partners Showcase of Nightfood at Major Hotel Industry Trade Show in April
On March 15th NGTF announced that iDEAL Hospitality Partners planned to be exhibiting and promoting Nightfood snacks at the Asian American Hotel Owners Association (AAHOA) 2022 conference and trade show in Baltimore from April 12 – April 15, 2022.
The Asian American Hotel Owners Association is the largest hotel owner’s association in the nation and its 20,000 members own approximately 60 percent of the hotels in the United States. The association’s annual show welcomed more than 6,000 attendees in 2021.
NGTF is focusing distribution efforts on the hotel vertical, where the top 5 hotel brands account for over 26,000 properties among the 56,000 total hotels in the United States, according to the American Hotel & Lodging Association.
On the heels of a successful retail pilot test by a leading global hotel brand in 2021, NGTF expects its sleep-friendly positioning and formulations will serve as a unique and powerful competitive advantage in the hotel lobby shop environment over conventional snacks. The hotel brand that conducted the test has initiated the process to launch NGTF ice cream pints into one of its largest chains, with more than 500 locations in the United States.
Recognizing that hotels have an inherent obligation to help support better sleep for their guests, NGTF engaged iDEAL Hospitality Partners to accelerate its hotel rollout. Once the NGTF initial hotel distribution is in place, further growth is expected to come both from corporate-level deals with additional hotel chains as well as decisions made at the local level by individual hotel owners and hotel management companies.
– NGTF CEO and Largest Shareholder, Sean Folkson, Extends Existing Share Lock-Up Additional Twelve Months
On January 20th NGTF announced that founder and CEO Sean Folkson has extended the existing lock-up of his shares for an additional twelve months through February 4, 2023
Folkson has not disposed of any of his shares in NGTF in any way since November 2015. He has increased his position during that time by converting $120,000 he had previously loaned the company into 400,000 shares through the exercise of warrants at a $.30 strike price, as well as having purchased shares in the open market.
In exchange for the extension of the lock-up, Folkson was issued warrants for NGTF common stock with a strike price of $.30 and a term of one year. Should Folkson not exercise the warrants on or prior to February 4, 2023, they will expire.
– HotelBusiness.com Publishes Nightfood Vision of the Future of Hotel Snacking
On December 6th NGTF announced that HotelBusiness.com published an article authored by NGTF CEO Sean Folkson about the opportunity and obligation for hotels to make sleep-friendly snacks available to their guests via their lobby pantry shops.
HotelBusiness.com and Hotel Business magazine provide industry-leading content, insight, and analysis on important and trending topics and issues within the hospitality industry.
In the article, titled “The Rise of the Hotel Snack Wars” Folkson outlines the opportunity available to hotels to extend their sleep-supporting efforts out of the guestroom and into the lobby snack shop by providing better, healthier, more sleep-friendly night snacks for guests. “Research shows unhealthy night snacking impacts both sleep and productivity. We view the inclusion of sleep-friendly snack options to be an obligation on the part of hotel leaders. As a result, we expect the Nightfood line of snacks to rapidly become hotel industry standard,” stated Folkson.
– NGTF Wins $150,000 in Prize Money for Accelerating National Hotel Rollout
The NGTF ice cream sandwich won the Real California Milk Excelerator grand prize of $150,000 in marketing support for its hotel launch. As the champion, NGTF has secured the first place prize of $150,000 to invest in marketing support for the hotel launch of a new line of ice cream sandwiches.
In a 2019 industry study, global consumer insights leader J.D. Power identified a major opportunity for hotels to win over their guests by delivering innovative solutions to support better sleep. They state, “Quality of sleep is one of the most important components of a hotel guest experience with the potential to drive overall satisfaction and brand loyalty, but the majority of hotels are not delivering better-than-expected sleeping conditions.”
NGTF won over an all-star judging panel of experts from across CPG, retail, venture capital and food science industries, featuring: Russell Barnett, Managing Director/CMO of My/Mochi Ice Cream, Donna Berry, Editor of the Daily Dose of Dairy, Heather Boyd, Managing Director, RTD of Beam Suntory, Chad Coester, SVP Own Brands at Albertsons Companies, Julia Bello, Principal, Local Producer Loan Program at Whole Foods, John Talbot, CEO of the California Milk Advisory Board, and Adriano Torres, Senior Director Global Marketing, Dairy & Plant-Based Beverages at Coca-Cola, and Josh Zonneveld, Chairman of the California Milk Advisory Board.
With help from the CMAB, NGTF is working to secure California-based copacker production capacity for the ice cream sandwiches.
For more information on Nightfood, Inc. (NGTF) visit: https://www.nightfood.com
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