Business
Unlocking Growth and Profitability: An Open Letter to Our Valued Shareholders from Better For You Wellness, Inc.'s Chairman and CEO
Unlocking Growth and Profitability: An Open Letter to Our Valued Shareholders from Better For You Wellness, Inc.'s Chairman and CEO.
About this update from Better For You Wellness Inc.
[{"type":"text","content":"December 18, 2023 Dear Fellow Shareholders: As we approach the close of this calendar year, I am excited to connect with you and provide insights into the strategic decisions undertaken by Better For You Wellness, Inc. (BFYW). Transparency and clear communication are essential as we navigate the path to sustained growth and profitability. I want to address the recent proposal to increase Authorized Shares from five hundred million to two billion. Our motivation can be succinctly encapsulated in two words: \"Growth\" + \"Profitability.\" As Chairman and CEO, my foremost commitment is to enhance shareholder value by fostering sustainable growth and profitability. I understand concerns about potential dilution resulting from the increase in Authorized Shares have been raised. However, I firmly believe such concerns are myopic and overlook the long-term benefits of expanding our enterprise. I've always adhered to the philosophy that a smaller piece of a larger pie is more advantageous than a larger piece of a smaller one. Allow me to present some crucial facts for your consideration:Current Authorized Shares = 500MCurrent Shares Issued = 419M+Existing Shares in Reserve = 78MCurrent Shares available for Issue = fewer than 2M sharesBoard of Director Option Shares = 20MBFYW currently lacks the Authorized Shares necessary for sustained growth. The Board and Management believe that the recent acquisition of all the assets and brands within The Ideation Lab, including her crown jewel, the Premium Coffee line, Stephen James Curated Coffee Collection (SJCCC), is, of all the brands in BFYW's portfolio, best poised for exponential growth because of its current placement in 35 select Ohio Kroger stores, Amazon and other retailers. We look to SJCCC as our North Star, especially given the very promising conversations with national grocers and retailers, which we believe could bring expansion into hundreds of doors in 2024, more than 1,000 doors by 2026, and nearly four times that within five years, and with projected sales over that time, place BFYW in an excellent cash position on its balance sheet to significantly bolster BFYW's financial standing. To meet these goals, expectations, and demands, BFYW has begun an effort to raise a minimum of $3.5M in Debt Capital with a five-year term note to fund COGS, opera...