Beautiful.
My partner met with ENW at LD Micro. A few tidbits:
- Several big decisions are expected soon in the machine sales pipeline (Milne $ 1.5M, Agropur $ 2M, Bonduelle could go up to 3 machines 400KW @ $ 2.9M each machine).
- In general, purchasing decisions are based on expected sales, required capex and resulting ROI. In the cannabis industry, decisions are based on cost savings primarily.
- Agreement with Cornell University: This is a well-known R & D center in the field of food. Many large companies do business with Cornell and so will be able to run tests with EnWave technology now.
NutraDried
- Generates approximately $ 500,000 of EBITDA per month.
- Still in 3 divisions at Costco and in discussions with 2 other divisions.
- Still hasn't got the status of permanent product. That said, it appears that the product meets Costco's main criterion, which is to generate more than $ 1,000 in sales per week per store (currently $ 1,300- $ 1,400).
- Costco has no official commitment to order Moon Cheese. On the other hand, they gave EnWave a '' guidance '' of the planned volume for the coming months. Should not be lumpy.
- With the current three SKUs, Brent believes there is a potential to travel to $ 60M in sales annually.
- For next year, the forecast is $ 25-30M sales for Nutradried + $ 10M in machine sales + $ 2M in royalties (including NutraDried's royalties).
- The goal is to be profitable in 2019. |
