MamaMancini's Holdings, Inc.

Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome to Mamma Mincini's third quarter fiscal 2022 earnings conference call. During today's presentation, all parties will be in a listen-only mode. Following the presentation, the conference will be open for questions. If you have a question, please press star followed by the one on your touchtone phone. If you would like to withdraw your question, please press star followed by the two. If you're using a speaker equipment, please lift the handset before making your selections. This conference is being recorded today, December 14th, 2021. And the earnings press release accompanying this conference call was issued at the close of the market today. On our call today is Mama Mancini's Chairman and CEO, Carl Wolf, President and COO, Matthew Brown, CFO, Larry Morgenstein, and Greg Flesnick. CEO of MZ North America, Mama Mancini's investor relations firm. I would now like to turn the conference over to Greg to read a disclaimer about the following statements.

Thank you, Operator. Before we get started, I'll read a disclaimer about forward-looking statements. This conference call may contain, in addition to historical information, forward-looking statements within the meaning of the federal security laws regarding Mama Mancini. Forward-looking statements include but are not limited to statements that express the company's intentions, beliefs, expectations, strategies, predictions, or any other statements relating to its future earnings, activities, events, or conditions. These statements are based on current expectations, estimates, and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may and are likely to differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors discussed from time to time in this report and in other documents which the company files with the U.S. Securities and Exchange Commission. In addition, such statements could be affected by risks and uncertainties related to factors beyond the company's control. Matters that may cause actual results to differ materially from those in the forward-looking statements include, among other factors, the loss of key management personnel, availability of capital, and any major litigation regarding the company. In addition, this conference call contains time-sensitive information that reflects management's best analysis only as of the date and time of this conference call. The company does not take under any obligation to publicly update or revise any forward-looking statements to reflect future events. information, or circumstances that arise after the date of this conference call. At this time, I'd like to turn the call over to Carl Wolf, the company's chairman and chief executive officer. Carl, the floor is yours.

Okay. Thank you, Greg, and thank you, everyone, for joining us today. I'd like to welcome you to our third quarter fiscal 2022 financial results conference call. The third quarter of fiscal 2022 was our highly focused acquisition effort. We have notably advanced a significant internal effort to explore potential acquisition. Our focus is on companies with complementary products in the perimeter of the supermarket, as well as exceptional operational and financial metrics. It seems like there's a little bit of static on the line. The ability to realize new distribution opportunities relationships, and push an existing product through our already robust distribution network and attract evaluation is our chief goal. We hope to announce our first major acquisition in the near term as we move through our due diligence process. If completed, this would dramatically increase our sales and EBITDA. We anticipate financing the acquisition with our cash on hand and bank financing with the goal of minimizing any dilutions. As a reminder, I myself am the largest shareholder of MMMB. More to come on this front. Given our growth expectations and the revenue from our near-term acquisition targets, we believe Mama Mancini's has the potential to approach $100 million in annual sales within 18 months, establishing us as a truly national platform company. We continue to innovate our core product line as well, as we will soon begin to ship a major new line of ready-to-eat meals in up to 11 varieties. Due to the immediate labor shortages facing retailers, we believe that this line will have great success. Our new convenience meatballs-in-a-cup product will launch for testing in the first quarter at an attractive $3.99 price point. The high protein content of 16 grams and very modest calories are attractive attributes to health conscious consumers. This product has the potential to efficiently service the exciting convenience store, supermarket, and university food service opportunities. We have added to production capacity to handle 10 to 12 million in incremental annualized sales. In addition, we are about ready to begin first supply to Amazon Fresh, representing our first direct-to-consumer online sales. We believe this will be a large opportunity for our Beyond or Mama Mancini's plant-based meatballs. This will start as a smaller account, though could be significant over time. This is based upon a cooperative marketing program with Amazon Fresh and historical comparables from other companies. Our growing sales are a result of our high-quality and innovative new products, and our effective multi-pronged marketing efforts. These have historically included radio campaigns, social media efforts, and continued work with QVC. I'd like to touch on a few of these now. On the social media side of things, we continue to maintain a robust reach, engaging new customers and encouraging repeat purchases. To date, we have over 500,000 likes and continue to geo-target likely consumers who live within five miles of of specific retail locations. Our QVC efforts have seen record success as well, with Dan Mancini's live pitches driving impressive sales on their platform. As many of you are aware, we were winners for three QVC Consumer Choice Awards, Best Meatball, Best Sauce, and Most Trusted Brand. Perhaps most notably, a Mama Mancini's product was named the coveted today's special value deal on QVC for December 8th, securing approximately five hours of airtime throughout the day. This will drive expected sales of $2 million spread throughout fiscal 2022 and 23, inclusive of auto delivery customers. QVC is North America's largest direct-to-consumer marketer and is available in over 100 million homes throughout the U.S., In summary, we believe the foundation building this quarter will lay the road for a successful 2022. We believe that we maintain significant potential to begin shipping several exciting new product placements to Tier 1 retailers in the near term, and we believe we are poised for a return to margin expansion by year end as several margin improvement initiatives come into play. I would expect sales to grow to $11.5 to $12 million in the fourth quarter, up from $9.4 million in the year-ago period, and up from $10.9 million this quarter. We are particularly excited by the growth opportunities facing the potential acquisitions we are evaluating today in calendar year 2022, made possible by leveraging our national network of Tier 1 retailers and club store accounts. I'd now like to turn the call over to Larry Morgenstein, our Chief Financial Officer, to walk through some key financial details from the third quarter.