Our favorite penny stock, Soupman Inc. (SOUP), announced the expansion of their shelf-stable, #1 Zagat-rated, best-tasting soup in the world just beofre the open today. The update highlights that 3,000 plus supermarkets across the United States now have the product in the soup aisle. Although SOUP stock is so thinly traded on the OTC, this isn’t a “microwave” investment for the flip and rip squad to look at since, like a good meal, the preparation time is key before enjoying the sweet taste of profits. Translation: Go Long or Go Home.
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SOUP Stock Chart
Market Cap: 17.05M
Close: 0.595, up 0.015 (2.59%)
Volume: 11,000
High: 0.595
Low: 0.58
52 Week Low (Sep. 28): 0.45
100 Day Stats:
Percent Change: -33.15%
Moving Average: 0.7547
Average Volume: 10,946
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Better than the update of the Original Soupman product availability, Arnold Casale, CEO of SoupMan Inc., issued a letter to shareholders which highlights their “Soup for Everyone!” business model (see here):
Our most important news: We have begun introducing The Original SoupMan in our new Tetra Recart cartons to the $6 billion soup aisle of supermarkets and food retailers nationwide, next to Campbell’s and Progresso. We also expect that by the first quarter of next year these recipes will be All-Natural.
Some background: In May 2012, our shelf-stable Tetra Recart carton packaging debuted at the Food Marketing Institute (FMI) Show at the Dallas Convention Center. Thousands of food retailers from around the world had a chance to see our innovative and vibrant new packaging. They tasted four delicious varieties that would comprise the launch: Lobster Bisque, Lentil, Tomato Bisque and Chicken Noodle. Our soups were extremely well received, leading to orders from major retail supermarkets and to a national brokerage arrangement with Advantage Sales & Marketing (“ASM”) (http://www.asmnet.com), one of the most powerful sales and marketing companies in the industry. They have 30,000 sales associates throughout the U.S. and Canada, and a track record of success with leading brands from clients including Unilever, Mars, Inc., J.M. Smucker Co., Ralcorp/Post Cereals, Energizer, Johnson & Johnson, GlaxoSmithKline and more. We believe it is a confirmation to the power of our brand and product quality that such a large company would work with our organization. ASM shares our vision and belief that The Original SoupMan will be a leading soup brand.
Since May, The Original SoupMan has achieved distribution in more than 3,000 grocery stores, including many of the nation’s largest supermarket chains, in time for soup season. As we add stores, we will update our website (http://www.originalsoupman.com) to indicate locations where you can buy our soups.
H-E-B Supermarkets, with over 340 stores across Texas, was the first to carry our soups. As of September 27, our soups are also available in more than 1,400 Safeway, Vons, Dominick’s, Randalls, Tom Thumb, Pavilions and Carrs stores in 21 states. We’re also at supermarkets including A&P, Waldbaum’s, Pathmark, Food Emporium, Super Fresh, Woodman’s, Weiss, Fairway, Associated Food Stores and The Fresh Market. We are also available at Amazon.com. We continue to work with ASM to secure additional distribution in the grocery channel for 2013 and beyond.
Business is heating up everywhere: We are building SoupMan into a top-quality, multi-dimensional food company, serving customers through many channels. In addition, we are assembling a highly talented, experienced executive team. The ingredients are in place to further establish and grow revenue and to deliver long-term value to our shareholders.
Here’s what’s been happening behind the scenes:
● We are leveraging the star power and influence of our famous business partners and brand ambassadors: Shaquille O’Neal, Jason Alexander and Reggie Jackson. They have significant equity stakes in SoupMan and believe in our products and where we’re going. Stay tuned late this year and in 2013 to see how they’ll be leading our marketing efforts and participating in building our brand.
● Tim Gannon, co-founder of Outback Steakhouse, Inc., and inventor of the Bloomin Onion®, has joined our Board of Directors. As our Culinary and Business Development Director, Tim has made an immediate and positive impact on SoupMan, Inc., through his vision and his culinary expertise and will play a significant role helping to bring us to the next level. Tim is one of the most successful and highly respected executives in the food business. He was one of the key players that over a 25-year period built Outback Steakhouse Inc. into a 1,400-outlet chain, with over $3.5 billion in annual sales.
● We are expanding our branded foodservice operations, including our program at Tim Horton’s and other restaurant chains, and also becoming part of healthy meals at schools and college campuses nationwide. Earlier this year, we began serving our Mexicali Beans in all New York City public schools and are currently working on additional vegetarian product approvals.
● Our branded The Original SoupMan soups are also now available at three locations at the College of Staten Island, part of the City University of New York, serving some 540,000 students at 24 institutions in New York City. We’ve developed a full-scale school lunch program, introduced by Reggie Jackson at the School Nutrition Conference in Denver this summer. The program includes affordable, low-sodium, low-fat options, including Shaq-A-Roni ‘n Meatballs and many vegetarian recipes. These new lunches, focused on vegetarian recipes with the guidance of Tim Gannon, meet the new USDA guidelines for school foods. Several school systems across the country are evaluating our program, which reflects Shaq’s personal goal of helping children eat healthily.
● SoupMan’s franchise operations, including a very successful operation at Mohegan Sun Casino in Connecticut, are moving in an exciting direction. Lloyd Sugarman, co-founder of Johnny Rockets Hamburgers, and his partner, Robert Azinian, are expanding and re-branding our concept. Their new restaurant at Mohegan Sun at Pocono Downs in Pennsylvania will be branded Al’s Famous New York Delicatessen & Restaurant. The new concept centers on a 200-seat restaurant serving authentic, fresh-sliced New York deli sandwiches, salads, entrees and a full breakfast menu along with our signature soups. We anticipate that revenue at this location will be significantly higher than our current model, and that it will become a successful franchise model.
● We recently completed a $954,000 1-year 12% bridge note offering, which was sold to select accredited investors, with Legend Securities, Inc., a FINRA member investment banking firm, acting as placement agent, and are pleased to report that as of August 31, 2012, we have approximately 31 million shares of our common stock outstanding.
We believe we have made a great deal of progress, and, as we look ahead to 2013, we look to continued growth in grocery, in foodservice and in our franchise operations.
As the weather begins to cool, we anticipate that people will heed our cry: Soup’s On!
Thank you for believing in us. We value you and appreciate your support and your patience as we work tirelessly to grow real and sustainable value for our shareholders.
Respectfully,
/s/ Arnold Casale
Arnold Casale, CEO
SoupMan, Inc.
About SOUP Stock
To request interviews with The Original SoupMan partners and brand ambassadors — Shaquille O’Neal, Jason Alexander and Reggie Jackson — or with Tim Gannon, co-founder of Outback Steakhouse and SoupMan, Inc. Board Member along with other members of management, please contact Blue Wolf Communications at 516-767-WOLF (9653) or via email at nick@bluewolfden.com.
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