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Global Diversified Marketing Group (Stock Symbol: GDMK), Supplier of Premium Snacks, Realizes 142% Revenue Growth in Q1
Global Diversified Marketing Group, Inc (OTCMKTS:GDMK)
ISLAND PARK, NEW YORK, UNITED STATES, May 24, 2021 /EINPresswire.com/ — Global Diversified Marketing Group (Stock Symbol: GDMK), Supplier of Premium Snacks, Sees 142% Revenue Growth in Q1; Initiates Launch of All New On-Line Marketplace and Positions for Future NASDAQ Listing
Premium Snack Food Supplier with Expanding Marketing Presence.
Latest Quarterly Sales Results at Record Revenue Levels.
Re-Brand of Customer Website into One-Stop Snack Marketplace with Initial Goal to Reach 500 Different SKUs Carried on the Platform.
New Director and Independent Board Members Appointed to Assist in Planned Listing to NASDAQ Market.
Product Placement for Major National Club Store with 1st Purchase Order.
Global Diversified Marketing Group, Inc. (OTC: GDMK) operates as a food and snack manufacturer, Importer & distributor through its subsidiary in the United States, Canada, and Europe. GDMK offers Italian Wafers, Italian Filled Croissants, French Madeleines, Wafer Pralines, Shelf Stable Macarons and other gourmet snacks. GDMK sells its products direct and through various distribution channels comprising specialty, grocery retailers and food-service distributors, DSD as well as vending, pantry and micro market segments.
GDMK is a fully reporting OTC listed company with a small share structure of only about 14 million shares outstanding. GDMK has also qualified for the Verified Profile and Transfer Agent Verified designations at otcmarkets.com.
Record Revenues and Adjusted Net Profit for Q1 Reported
On May 17th GDMK reported results for its fiscal first quarter ended March 31st, 2021.
Highlights and Results for Three Months Ended March 31st, 2021 Compared to the Same Three Months Ended March 31st, 2020:
Revenues for the three months ended March 31, 2021, were $823,400, an 142% increase compared to $339,961 for the same three-month period in 2020.
The gross profit margin was $322,124 for the three months ended March 31, 2021, a 98% increase as compared to $168,103 for the same period ended in 2020.
Adjusted net profit which is defined as net profit after adding back non-cash, the stock-based expense of $458,538 and $26,020,000 in the 2021 and 2020 periods respectively, was $74,993 for the three months ended March 31st, 2021 compared to $14,618 for the three months ended March 31st, 2020.
Net loss was $410,545 for the three months ended March 31st, 2021 compared to a net loss of $26,001,782 for the 2020 period.
GDMK Re-Brands Company Website as All New Snack Marketplace
On April 6thGDMK waspleased to debut the re-brand of its website properties at 360worldsnacks.com as a one stop snack pantry which will define GDMK as a new exciting snack marketplace.
The new site will start off with popular GDMK branded items and will be adding other brands and high velocity products and snacks to this marketplace. The initial goal will be to reach 500 different SKUs carried on the platform to please the discerning tastes and preferences of as many different consumers as GDMK possibly can.
To further enhance the value of GDMK product offerings the company will provide 2-day free shipping all across the United States. For orders that reach $50 in the cart, GDMK will also give the consumer an option to add any additional items/SKUs to the cart at a special promotion off the listed price.
GDMK Appoints Serge Kats as New Director of Operations
On March 22ndGDMK announced the appointment of Mr. Serge Kats as the company’s new Director of Operations, effective April 5, 2021. This latest addition to the GDMK leadership team in being made to directly support the ongoing growth in new sales avenues for successful lines of GDMK premium snack food products. Mr. Kats has extensive experience in business expansions and the management of major capital resources.
Throughout his banking career, he has dealt with small businesses, mid-size businesses, as well as middle market companies. Most recently he has managed a complex portfolio of clients in excess of $100MM. Mr. Kats has created partnerships with local and regional CPA firms, law firms and banking partners to increase referral network. This has helped him grow portfolio of clients by more than 30% year over year. He is a true veteran within banking who has also been top ranked in Northeast region year over year among his peers.
GDMK Appoints Independent Board of Directors in Preparation for Future NASDAQ Listing
On February 25thGDMK began working towards an intended up-listing of the company stock to the NASDAQ market system at some point in 2021. In preparation for meeting the higher requirements and standards of NASDAQ, GDMK is assembling the pieces which will be needed, the first of which is an Independent Board of Directors. GDMK management is announced the following new Board Members have been added, all of whom are professionally qualified to assist the company in its business growth and fulfill the NASDAQ listing requirements.
James Donegan
Beginning his career with Procter & Gamble and PepsiCo, Mr. Donegan offers a 30 plus-year track record of accomplishment as a Sales and Marketing executive in the food industry. As VP of Sales and Marketing at Denver-based VICORP Restaurants, Mr. Donegan pioneered a new division, building a $20M business in 4 years. Additional roles have included as Senior VP Sales and Marketing at Phoenix-based Café Valley Bakery, Northeast Sales Manager at Ragu Foods/Unilever and National Sales Manager at New Jersey-based McCain Ellio’s Pizza Company. He also served as VP Sales and Marketing for Cereform USA, a food ingredient company that was based in Denver.
Michael Cascione, Sr., President of CC Vending, Inc.
Michael Cascione, Sr. (“Mike”) is the founder and president of Group C, whose various companies provide Pantry, Micro Markets, Coffee and Vending services.
Mike’s original startup, CC Vending (CCV), began in 1989 was with a single beverage machine. CCV has subsequently grown into one of the largest vending companies on the East Coast, servicing over 15,000 machines, while managing the operations of several other companies throughout four states.
Mike credits his early embrace and investment in technology as one of the keys to his and the company’s success. CCV currently develops new technology for Micro-Markets and creates healthy products for the K-12 market, where it services the nation’s largest public school system, the NYC Department of Education. In addition, Group C’s Metropolitan Coffee House roasts and packages its own coffee for OCS accounts throughout the tri-state area.
Mike continues to guide Group C’s expansion in both technology and geography; committing resources to R&D, as well corporate acquisition. He is a lifelong advocate for innovation in the vending industry and continues to fulfill his goal of establishing its leading technology firm.
Sandi Williams
Has had an over 40 year career in many aspects of retail, including buying, selling and design. She spent 24 years at Frugal Fannie’s Fashion Warehouse. As a buyer, merchandise manager and vice president she was responsible for all merchandise. She also managed two private label programs, one domestic and one import.
She has spent 17 years as a buyer for TJX Corporation buying for Marshalls and TJMaxx. She was responsible for buying ladies outwear, ladies activewear, swimwear and multiple categories in the shelf stable food area.
Ms. Williams is a consultant to a New York City sportswear and dress manufacturer. She is responsible for working with the designers and creating 6 new collection a year. She also volunteers to mentor college students in the fashion program at a Framingham State University. She helps students interviewing, networking, capstone projects and class presentations.
David Natan, Financial Consultant
David Natan is a 1975 graduate of Boston University where he majored in accounting and economics. In 1975, Mr. Natan was elected to Economics National Honor Society. Mr. Natan has public and private company experience, as well as Big Four accounting experience at Deloitte Touche. During his career he has served as Chief Financial Officer for five listed public companies. Since December 2007, he has been President and CEO of Natan & Associates, a consulting firm offering interim CFO services to numerous public and private companies, in a variety of industries.
Mr. Natan has extensive C level experience in the areas of distribution, manufacturing, retailing, emerging technologies, pharmaceuticals, SEC compliance, treasury, corporate finance, tax and operations, both domestically and internationally. During his career he has participated in over 25+ merger and acquisition transactions, and, has participated in the raising of over $400M in debt and equity financing on favorable terms.
Placement with Major National Club Store and First Purchase Order
On January 27th GDMK announced the companyhas successfully secured placement with National Club Store Chain for its premium snack product to be stocked and sold in the US North East Region. The first purchase order has already been received.
Club Stores will begin by offering GDMK gourmet Coco Bliss Coconut Wafer Bites. With a launch date set for mid-February, the timing should be ideal to meet the strong consumer demand for high quality snack items during the winter months. GDMK is preparing to deliver the initial product shipments to the chain stores so they can reach store shelves and be available to the very large and discerning customer base.
GDMK will continue to work to build the program into higher quantity and more diverse orders as both companies go forward together. Back on September 1stGDMK had reported that it was in talks with Costco Wholesale Corp (COST), a major club store chain which operates over 500 locations in the United States. Hence, the new placement and 1st purchase order just announced is highly likely with Costco.
For more information on Global Diversified Marketing Group, Inc. (GDMK) visit the company’s website at: https://www.360worldsnacks.com.
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