Jammin Java Corp. (OTCQB: JAMN) saw its share volume skyrocket on May 7th with 3,971,271 shares exchanging hands, almost twelve times higher than its three month daily average of 332,713 shares.
This uptick in volume comes after Marley Coffee (corporate name Jammin Java Corp.) (JAMN) announced that Hannaford Supermarkets, a U.S. grocery company based in Scarborough, Maine, will carry two Marley Coffee products in their 184 stores across Maine, Massachusetts, New Hampshire, Vermont and New York.
Jammin Java Corp. also entered into a strategic investment transaction with Mother Parkers Tea & Coffee, Inc., for a total of up to $8.25 million in funding.
The family-owned, Ontario, Canada-based Mother Parkers is the largest independent roaster in North America. The company produces Marley Coffee in its innovative RealCup single-serve capsules, which are designed for use with K-Cup(R) compatible brewers and feature a patented non-woven filter for superior taste in the cup. Mother Parkers is also Marley Coffee's Canadian food service provider and brings Marley Coffee to market into key retail accounts across Canada.
Marley Coffee Chairman and Founder Rohan Marley said, "I'm very proud of how much growth in grocery store product placement our company has seen in the last 18 months. The next key phase of our expansion is to consistently reinforce the quality of our brand to consumers and help increase product turn. The lion's share of this cash infusion from Mother Parkers will go toward the latter, and unlike previous investments we have had from previous investors, this is the most strategic investment to date because it aligns both companies' long-term interests and provides a vehicle for both corporate and shareholder growth."
JAMN closed at $.3361, 20.92% down from its previous close of $.425.
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MusclePharm Releases 2014 Q1 Financial Results
MusclePharm Corp. (OTCQB: MSLP) saw its share volume soar on May 7th with 149,149 shares exchanging hands, more than four times higher its daily three month average of 35,964 shares.
This jump in volume comes after MusclePharm released its 2014 first quarter financial results. Net income was approximately $2.7 million, or $0.23 per diluted share, compared with a net loss of approximately $7.4 million, or $1.78 per share, for the same period last year.
At March 31, 2014, the Company had approximately $5.8 million in cash and restricted cash.
"MusclePharm had an excellent quarter, achieving profitability for the first time with significant top-line expansion," said Brad Pyatt, MusclePharm's Chairman and Chief Executive Officer. "Our results were fueled by strong international sales, which we believe will continue to present significant opportunities for the Company."
"Over the last two years we worked diligently to introduce our products to international markets and took further steps to improve the Company's sales cycle. While we have much work left to do, particularly with respect to the labeling for recently developed products, as well as further steps to improve distribution, we are encouraged by our prospects moving forward," Pyatt added.
MSLP closed at $9.74, 4.73% higher than its previous close of $9.30.
Latteno Food Corp. Files 2014 Q1 Financials
Latteno Food Corp.'s (OTCPINK: LATF) share volume continued to dip on May 7th, with 125,692,264 shares exchanging hands, half of its three month daily average volume of 258,645,054 shares.
This uptick in volume comes after Latteno Food Corp. filed their 2014 Q1 financials. Led by continued strong sales in its wholly-owned subsidiary Mekonza's shipment growth of its fresh seafood products both domestically and internationally, Q1 revenue totalled $3,795,855; an increase over 2013 Q1 record breaking revenue. Additionally, the Denver-based company recently reported aggressive medical marijuana initiatives have commenced producing additional streams of sustainable revenue growth.
LATF closed at $.0044, 13.73% down from its previous close of $.0051.
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