Mama's Creations Files 10-Q, Details Financials

TL;DR

Mama's Creations 10-Q filed. Financials updated for Q1 2024.

AI Summary

Mama's Creations, Inc. filed a 10-Q for the period ending April 30, 2024. The company, formerly known as MamaMancini's Holdings, Inc., is involved in the prepared meat products industry. The filing details financial information and corporate structure, including preferred stock series A and B, and common stock.

Why It Matters

This filing provides investors with an update on Mama's Creations' financial health and operational status for the recent quarter.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 2024-04-30 — Reporting Period End (The end date for the financial reporting period covered by this 10-Q.)
• 2024-06-11 — Filing Date (The date this 10-Q was officially filed with the SEC.)

Key Players & Entities

• Mama's Creations, Inc. (company) — Filer
• MamaMancini's Holdings, Inc. (company) — Former company name
• 20240430 (date) — Reporting period end date
• 20240611 (date) — Filing date

FAQ

Key Financial Figures

• $0.00001 M — ich registered Common Stock, par value $0.00001 MAMA Nasdaq Capital Market Indicate by

Filing Documents

• mama-20240430.htm (10-Q) — 759KB
• mama-20231031xex3111.htm (EX-31.1) — 11KB
• mama-20231031xex3121.htm (EX-31.2) — 11KB
• mama-20231031xex3211.htm (EX-32.1) — 5KB
• mama-20231031xex3221.htm (EX-32.2) — 5KB
• 0001628280-24-027669.txt ( ) — 5973KB
• mama-20240430.xsd (EX-101.SCH) — 46KB
• mama-20240430_cal.xml (EX-101.CAL) — 89KB
• mama-20240430_def.xml (EX-101.DEF) — 258KB
• mama-20240430_lab.xml (EX-101.LAB) — 666KB
• mama-20240430_pre.xml (EX-101.PRE) — 470KB
• mama-20240430_htm.xml (XML) — 635KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements. F- 1 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 2 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 5 Item 4.

Controls and Procedures

Controls and Procedures. 5

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1. Legal Proceedings. 6 Item 1A. Risk Factors. 6 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds . 6 Item 3. Defaults Upon Senior Securities. 6 Item 4. Mine Safety Disclosures. 6

Other Information

Item 5. Other Information 6 Item 6. Exhibits. 7

Signatures

Signatures 8 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this report are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Exchange Act. The forward-looking statements involve substantial risks and uncertainties. All statements, other than statements related to present facts or current conditions or of historical facts, contained in this report, including statements regarding our strategy, future operations, future financial position, future revenues, and projected costs, prospects, plans and objectives of management, are forward-looking statements. Accordingly, these statements involve estimates, assumptions and uncertainties which could cause actual results to differ materially from those expressed in them. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "ongoing," "plan," "potential," "predict," "project," "should," "target," "will," "would," or the negative of these terms or other comparable terminology are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are not guarantees of future performance and our actual results could differ materially from the results discussed in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include: the impacts of public health emergencies, such as the COVID-19 pandemic, on our business, financial condition and results of operations, and our inability to mitigate such impacts; the adequacy of our liquidity to pursue our business objectives; reliance on a limited number of customers; loss or retirement of key executives, including prior to identifying a successor; adverse economic conditions or intense competition; pricing pressu

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. MAMA'S CREATIONS, INC. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS April 30, 2024 Page(s) Condensed Consolidated Balance Sheets as of April 30 , 202 4 (unaudited) and January 31, 202 4 F- 2 Condensed Consolidated Statements of Operations for the Three Months Ended April 30 , 202 4 and 202 3 (unaudited) F- 3 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three Months Ended April 3 0 , 202 4 and 202 3 (unaudited) F- 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended April 3 0 , 202 4 and 202 3 (unaudited) F- 7 Notes to Condensed Consolidated Financial Statements (unaudited) F- 8 F-1 Table of Contents Mama's Creations, Inc. Condensed Consolidated Balance Sheets (In thousands, except share and per share data) April 30, 2024 January 31, 2024 (Unaudited) Assets: Current Assets: Cash and cash equivalents $ 13,043 $ 11,022 Accounts receivable, net 8,079 7,859 Inventories, net 3,017 3,310 Prepaid expenses and other current assets 1,230 1,375 Total current assets 25,369 23,566 Property, plant, and equipment, net 5,457 4,436 Intangible assets, net 4,599 4,979 Goodwill 8,633 8,633 Operating lease right of use assets, net 2,755 2,889 Deferred tax asset 331 503 Deposits 95 95 Total Assets $ 47,239 $ 45,101 Liabilities and Stockholders' Equity: Liabilities: Current Liabilities: Accounts payable and accrued expenses $ 14,257 $ 12,425 Term loan, net of unamortized debt discount of $ 32 and $ 38 , respectively 1,519 1,514 Operating lease liabilities 418 434 Finance leases payable 378 367 Promissory notes – related parties 1,950 1,950 Total current liabilities 18,522 16,690 Line of credit — — Operating lease liabilities – net of current 2,380 2,515 Finance leases payable – net of current 1,125 1,062 Promissory notes – related parties, net of current 2,250 2,250 Term loan – net of current 2,616 3,003 Total long-term liabilities 8,371 8

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View this 10-Q filing on SEC EDGAR