bradakus
16 years ago
Organic To Go Debuts at San Diego International Airport
Nation's First USDA Certified Organic Fast Casual Café Opens Premiere Franchise at SDI
Organic To GoTM (OTCBB: OTGO), the nation's first fast-casual café chain to be certified as an organic retailer by the USDA, today announced the opening of its first grab & go location franchise within San Diego International Airport (SDI). The new, fully branded Organic To Go location can be found in the Food Court on the first floor of Terminal 1.
“We are very excited to launch our first franchise within San Diego International,” said Jason R. Brown, CEO of Organic To Go. “Showcased in the midst of Chili’s, McDonalds, Baja Fresh and Starbucks, Organic To Go’s fresh, 'clean' menu options and vegetarian alternatives make a great deal of sense for travelers to and from southern California, allowing for a complete set of choices. As airlines pull back from complimentary foodservice on flights, Organic To Go offers a quick grab & go option that is not only delicious, but also nutritious.”
Organic To Go’s fully branded premiere SDI location is managed by Concessions Management Services (CMS), an experienced multi-concept concession company, and features Organic To Go’s full service menu with branded hot soup, hot & toasted sandwiches and mini-pizzas, coffee and espresso drinks and custom sandwiches made to order. Organic To Go also partners with CMS at Los Angeles International Airport (LAX), where CMS operates nine kiosk locations serving Organic To Go menu items. In addition, Organic To Go partners with HMS Host and provides grab and go meals at one of their locations at LAX.
“We've witnessed impressive customer response and growth at our LAX locations since offering the Organic To Go options. Thus CMS is excited to expand with Organic To Go into San Diego,” said Clarence A. Daniels, President & CEO of CMS. “Organic To Go is truly a different option. They offer healthy and delicious organic choices that are fast and easy to take on board a plane. People are very happy to have great-tasting choices for meals made with organic ingredients, and we look forward to growing our relationship with Organic To Go at other airports throughout the country."
Organic To Go offers fresh, healthy and delicious "clean" food that is always free of harmful additives, antibiotics, chemicals, pesticides, growth hormones or genetic modification. Organic To Go ingredients are certified organic and locally sourced whenever possible.
Organic To Go has more than 120 wholesale locations, which include 50 university locations on 15 campuses as well as the ten locations at Los Angeles International Airport. Organic To Go also supplies its food to The University of Washington Medical Center, Children's Hospital and Harborview Medical Center in Seattle, and operates 33 cafés and also offers corporate catering, counting such companies as Microsoft, Marriott, T-Mobile, Google, Safeco, Starbucks Coffee, and Amazon as customers.
bradakus
16 years ago
8K
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
As previously disclosed in a Current Report on Form 8-K filed by Organic To Go Food Corporation (the “Company”) on February 20, 2009, the Company closed the transactions contemplated by that certain Note Purchase Agreement, dated February 11, 2009 (the “Note Purchase Agreement”), by and between the Company and W.Health L.P., a limited partnership organized under the laws of the Bahamas (the “Investor”), pursuant to which, among other things, the Company sold a $5.0 million secured convertible promissory to the Investor (the “Debt Financing”). A summary of the material terms of the Debt Financing was previously disclosed in a Current Report on Form 8-K filed by the Company on February 11, 2009, which is incorporated herein by reference.
Pursuant to the Note Purchase Agreement, Dr. Bogdan von Rueckmann was appointed as a member of the Board of Directors of the Company to be effective not less than ten (10) days after the mailing of a Schedule 14F-1 to the stockholders of the Company. The Schedule 14F-1 was mailed to the Company’s stockholders on February 24, 2009, and Dr. von Rueckmann’s appointment as a member of the Board of Directors became effective on March 6, 2009.
Dr.
Bogdan von Rueckmann is a partner of Inventages Whealth Management, Inc., the general partner of the Investor, which is a controlling stockholder of the Company.
There are no family relationships among Dr. von Rueckmann and the directors or executive officers of the Company.
bradakus
16 years ago
Inventages is one of the world’s leading venture capital investors in health care, bioscience, and modern nutrition. The venture capital company supports entrepreneurial start-ups in the development, clinical testing, and the commercial launch of their products until a corporate takeover or an IPO. Inventages manages about 1 billion euros in assets and maintains offices in the Bahamas, in Switzerland, and in New Zealand.
http://www.unisg.ch/hsgweb.nsf/wwwPubInhalteEng/Dr.+Wolfgang+Reichenberger?opendocument
bradakus
16 years ago
Results of Operations
Sales - Sales for the third quarter of 2008 increased approximately 70%, to $6.3 million, as compared with $3.7 million in the third quarter of 2007. Our third quarter sales in the past have always been our slowest quarter due to summer holidays for people at work and universities in summer session. Sales for the nine months ended September 30, 2008 increased approximately 57% to $17.5 million, compared to $11.2 million for the nine months ended September 30, 2007. Retail café sales were $3.3 million during the quarter ended September 30, 2008, an increase of approximately 83% over $1.6 million during the comparable prior year period. Café sales comprised 51% of total sales in the 2008 quarter compared to 44% of total sales in the third quarter of 2007. Café sales for the nine months ended September 30, 2008 and 2007 were 8.3 million and $4.6 million, respectively, and comprised 47% and 41% of total sales. The increases in year-over-year retail sales for both the quarter and nine month periods is primarily a result of the addition of all San Diego and Washington, DC Retail Cafés, in addition to four new locations in Seattle and two in Los Angeles that were opened or acquired subsequent to September 30, 2007. We ended the third quarter of 2008 with 33 Retail Cafés as compared with 13 at the end of the same period in 2007.
bradakus
16 years ago
Organic To Go Announces Plan to Deregister With the SEC
Conference Call Scheduled for Monday, March 2, 2009 at 10:00am PST
Organic To GoTM (OTCBB: OTGO) announced today that on March 20, 2009 it intends to file a Form 15 with the Securities and Exchange Commission (SEC) to deregister its common stock and terminate its reporting obligations under the Securities Exchange Act of 1934, as amended.
Upon the filing of the Form 15, the Company’s obligation to file certain reports and forms with the SEC, including Forms 10-K, 10-Q and 8-K, will immediately cease. In addition, the Company’s shares will no longer be listed on the Over The Counter Bulletin Board.
Jason R. Brown, CEO, said that, “After thoroughly evaluating and discussing the options before us, the Company’s Board of Directors has determined that the financial costs associated with the increasing regulatory requirements of a public company are currently an excessive burden. The Board has concluded that during these challenging economic times, the Company and its stockholders will be better served by applying its financial resources to continue to support and execute the Company’s business plan. This will ultimately allow us to more fully capitalize on the significant long-term growth potential of the organic foodservice market and the Organic To Go business model. The Board believes that by taking these measures, it will provide the Company additional resources to execute its strategic plans and optimize the Company’s potential -- allowing Organic To Go, when the macro economic climate and overall economy improve, to once again actively seek to maximize its growth.”
The Company anticipates that its shares will be traded over the counter on the “Pink Sheets,” but can make no assurances that any broker will make a market in the Company’s common stock. The Pink Sheets is a centralized quotation service that collects and publishes market maker quotes in real time, primarily through its web site, http://www.pinksheets.com/. The Company intends to continue to report to its stockholders in accordance with Delaware law. In addition, the Company presently intends to report its quarterly financial results on its website as well as in press releases.
CONFERENCE CALL
Jason R. Brown, CEO, will host a conference call on Monday, March 2nd at 10:00am PST to discuss today’s announcement. Shareholders and other interested parties may participate in the conference call by dialing (877) 407-0782 or (International) (201) 689-8567 a few minutes before 10:00am PST on March 2, 2009. The call is being webcast by Vcall and can be accessed at www.organictogo.com/merger.cfm. Investors can also access the webcast at www.InvestorCalendar.com. The webcast will be available for replay through May 2, 2009. A replay of the conference call will be accessible until April 2, 2009 by dialing 877-660-6853 and entering the Account #286 and the Conference ID # 314462.
About Organic To Go
Based in Seattle, Organic To Go is the nation’s first fast casual café chain to be certified organic by the USDA with locations in Seattle, Los Angeles, San Diego and the Washington, DC metropolitan area. Organic To Go’s delicious organic food is currently available in more than 170 locations including 33 cafés, more than 120 wholesale locations, 15 universities, 9 locations at Los Angeles International Airport and one franchise café scheduled to open soon at the San Diego International Airport. The company’s multi-channel business model includes Retail, Corporate Catering and Wholesale operations. Organic To Go’s mission is to become the leading branded provider of certified organic and natural, soups, salads, sandwiches, pizzas, entrees and other food products to corporate, university and other institutional customers in selected urban areas nationwide. All Organic To Go fare is always natural, free of harmful chemicals and created with care. For more information, visit www.organictogo.com.
TheBigLab
17 years ago
SEATTLE, Wash, (June 27, 2007) — What is growing even faster than the booming organic industry in the United States, now boasting a 17 percent growth rate in 2006? The answer is organic foodservice. The rapidly growing organic sector’s growth is evidenced by the recent commitment from institutional investors of $6.35 million of equity into Organic To Go™ (OTCBB: OTGO). The financing is targeted to help fund further expansion for the company, which posted a 61% growth rate in 2006.
Bull Trader
17 years ago
News Release
For Immediate Release
IR contact: Terri MacInnis Media contact: Sylvia Tawse
Bibicoff & Associates, Inc The Fresh Ideas Group
818.379.8500 303.449.2108, ext 11
terrimac@bibicoff.com Sylvia@freshideasgroup.com
Organic To Go Closes $6.7 Million Placement
Organic foodservice leader targets entry into new geographic market
SEATTLE, Wash, (June 29, 2007) — Organic To GoTM (OTCBB: OTGO) announced today that it has closed the recently announced equity private placement made by institutional investors. The $6.7 million financing consisted of the sale of 3.35 million shares at $2.00 per share with five-year warrants to purchase 1.34 million shares of common stock at an exercise price of $2.50.
“The funds are targeted to continue our growth strategy,” commented Jason A. Brown, CEO. “We are actively pursuing entry into a new geographic market in Southern California. At the same time we continue the expansion in our existing territories of our corporate catering services and the build-out of additional retail cafés and outlets in existing corporate centers and universities. As previously announced, we anticipate that we will open our next two cafés in July in Woodland Hills, CA, which will bring us to 15 Organic To Go cafés in Washington and Southern California.”
About Organic To Go
Based in Seattle, WA, Organic To Go (OTCBB: OTGO) is the nation’s first fast casual café to be certified as an organic retailer. Organic To Go’s locations can be found in the bellyof multi-tenant office towers, on corporate campuses, on college campuses and at Los Angeles International Airport. The Company’s multi-channel business model includes retail, delivery and wholesale operations. Organic To Go’s mission is to become the leading branded provider of certified organic and natural soups, salads, sandwiches, entrees and other food products to corporate, university and other institutional customers in selected urban areas nationwide. All Organic To Go fare is made with organic ingredients whenever possible and is always natural, free of harmful chemicals and created with care. For more information, visit www.organictogo.com.
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the company's current and future products and services in the marketplace, the ability of the company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the company undertakes no obligation to update these statements for revisions or changes after the date of this release.
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6/29/
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