Gourmet Provisions International Corp. (OTCMKTS:GMPR) Provides Major Corporate Updates
Gourmet Provisions International Corp. (OTCMKTS:GMPR) has four wholly owned subsidiaries Jose Madrid Salsa, Pizza Fusion, Unique Tap House & PopsyCakes. It also has a licensing and distribution agreement with Christopher Street Products and Cousin T’s respectively. It has brought on Jack Brewer as the company’s Brand Ambassador & Brewer Media & Entertainment Group in October of 2017. Brewer Media Group was brought on to help build all aspects of the several Gourmet brands.
Market Stats
On Friday, GMPR stock slumped 40% to $0.0138 with more than 22.97 million shares, compared to its average volume of 2.56 million share. The stock moved within a range of $0.0128 – 0.0250 after opening trading at $0.0240.
Gourmet Provisions International Corp. (GMPR) Announces Corporate Update
President and CEO of Gourmet Provisions International Corporation (GMPR), James C. Vowler, has provided a corporate update. The company enlisted the services of Rick Weiner to finalize the pre audits, finish the necessary financial statements for uplisting to NASDAQ and potentially become a fulltime CFO. A fee of $25,000 has been paid to M&K CPAS, PLLC of Houston, TX to sign off on the audits once they are done.
GMPR has signed on a letter of intent to purchase multiple Black Rock Bar & Grill locations. As of now, the company is reviewing and finalizing non-toxic, non-diluting funding to close the Black Rock deal. The management team will do their due diligence till then. They expect to close on 3 Florida locations and Master Franchising rights for the states of Georgia & Pennsylvania this quarter. Though they had the funding to close the Black Rock deal in the last quarter of 2021, there were delays in receiving the financial statements from Black Rock and a downturn in the market. That is why they had to look for alternative funding sources.
GMPR has also acquired the multi award winning Pizza Fusion brand, with existing locations in the US & Saudi Arabia, in March, 2019. The pizza industry forever changed in 2006, thanks to Pizza Fusion’s award winning organic, gluten-free delicious healthy pizzas. It was in alignment with the company’s motto – Saving the Earth one Pizza at a Time. Pizza Fusion now sells its gourmet gluten-free frozen pizzas in 150+ grocery stores, in 5 different states, through two food distributors Gia Russa & McAneny Brothers.
Back in March of 2022, GMPR was 1 of 22 companies invited to the DeCA Arm Forces Food Service Military Show in Petersburg, VA. The US Military Food Service decision makers attended the show, sampled, loved and approved our Pizza Fusion’s Founders Pie for the US troops in Kuwait. The US Military has approved the meal to be fed to 36,000 US Troops based in Kuwait for two lunches and one dinner per week and all events and parties.
In other news, GMPR has announced that Pennsylvania based food distributor McAneny Brothers, Inc will begin carrying and distributing 10 of Jose Madrid Salsas “The Healthy Fundraiser” (wholly owned subsidiary of GMPR). McAneny Brothers is a full service convenience and grocery store distributor, offering on-line ordering and next day delivery throughout Pennsylvania, Ohio, Maryland, West Virginia and New York to over 1,300 retail customers.
Key Quote
According to Vowler, Gourmet Provisions International Corporation: “Below is a full update of all of the great opportunities GMPR has accomplished and is working on, with detailed explanations of delays and issues that we have faced and the solutions we have implemented. We appreciate and value our loyal shareholders and we have a bias expectation that their loyalty will be greatly rewarded as we accomplish our corporate goals”.
Traders Corner
GMPR stock is trading above the 20-Day and 50-Day Moving averages of $0.0126 and $0.0.0110 respectively. However, the stock is trading below the 200-Day moving average of $0.0394.
