Published:
Natural Harmony Foods Reports Recent Sales Milestones and Major Developments at Annual Shareholders Meeting
Founders Announce Substantial Debt to Equity Conversion; Reaffirm Their Confidence in Natural Harmony Foods
Natural Harmony Foods, Inc. (OTC: NHYF), a producer and marketer of unique, natural protein foods, reported
the achievement of several financial and operational milestones for 2005 at
the company's annual shareholders meeting held earlier this month.
According to Sam Dewar, CEO and founder of Natural Harmony Foods, the
company's SoyLean® Flame-Broiled Beef Patties are currently available in
the meat department freezer cases at approximately 600 Publix supermarket
locations across Florida, Georgia, Alabama, South Carolina and Tennessee,
with additional SoyLean® products expected to be added to the Publix
lineup in the near future.
Shipments of SoyLean® Flame Broiled Patties totaled $113,224.00 for the
last four months of 2005, and the company conducted product demonstrations
in more than 100 supermarket locations along the Southeastern United
States.
Sales of SoyLean® Flame Broiled Beef Patties increased substantially over
previous periods in all markets where demonstrations were conducted --
ranging from a low of 154 percent in Publix's Atlanta division to a high of
382 percent in the chain's Lakeland division -- confirming consumer product
acceptance and repeat purchasing. The company is scheduling additional
demonstrations throughout 2006.
Dewar also reported that at Natural Harmony Foods' board of directors
meeting this past January, the founders of the company voted to convert
$317,911 of debt to equity thereby reducing the company's debt to less than
$200,000 and reaffirming their confidence in the future of Natural Harmony
Foods. Concurrently, the company's board of directors approved the
issuance of common and preferred stock to raise $3-3.5 million for
expansion, according to Dewar.
In addition, Dewar confirmed substantial general market media interest in
the company's SoyLean® brand products. The February 2006 issue of
Runner's World, for example, included a very favorable article about
SoyLean® Flame Broiled Beef Patties. The company anticipates additional
media coverage over the coming months as it introduces additional products
to the SoyLean® line and expands into new markets.
"Particularly from a financial standpoint, Natural Harmony Foods has
strategically positioned itself for aggressive growth over the next 12
months," said Dewar. "Natural Harmony Foods and its shareholders are
poised to capitalize on the new, growing demand for heart healthy products,
and all of these developments will fuel our expansion over the coming
year."
NHYF shareholders of record on March 3, 2006 were invited to the company's
annual shareholders meeting on April 3, 2006. Shareholders representing
57,141,685 of the company's then current 73,575,470 shares, or 77.7 percent
of the company's owners at the time, were present.
About Natural Harmony Foods
Natural Harmony Foods, Inc. (OTC: NHYF) is an innovative food company
dedicated to producing healthy, flavorful, convenient foods that fit the
lifestyles of individuals looking to make better, health conscious diet
choices without sacrificing taste. For more information about Natural
Harmony Foods, SoyLean® products, and helpful Internet links, please
visit www.naturalharmonyfoods.com. NHYF Shareholders are encouraged to
search "NHYF" on www.pinksheets.com for current financial information on
the company.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking
statements'' as defined in the Private Securities Litigation Reform Act of
1995 may be included in this news release. These statements relate to
future events or our future financial performance. These statements are
only predictions and may differ materially from actual future results or
events. Natural Harmony Foods disclaims any intention or obligation to
revise any forward-looking statements whether as a result of new
information, future developments or otherwise. Important risk factors --
including but not limited to risks associated with changes in general
economic and business conditions, actions of our competitors, the extent to
which we are able to develop new products and markets for these, the time
and expense involved in such development activities, the level of demand
and market acceptance for our products, and changes in our business
strategies -- could cause actual results to differ from those contained in
forward-looking statements.
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Tags: ,Agriculture:Equipment and Supplies, Agriculture:Farming, Agriculture:Forestry, Agriculture:Livestock, FoodandBeverage:Retailers, ,INTHPINK,FL,FORT LAUDERDALE, FL
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