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PLEASANTON, Calif., April 01, 2025--(BUSINESS WIRE)--Armanino Foods of Distinction, Inc. (OTCQX: AMNF) announced today that it has filed an automatic 15-day extension with OTC Markets for its 2024 Annual Financial Disclosure.
The Company recently uplisted to the OTCQX Best Market in 2024, and the additional accounting and disclosure requirements have placed an added burden on the Company’s internal accounting staff. Compounding the burden was the departure of the Company’s CEO in January, which resulted in the Company’s CFO stepping in as Acting CEO.
"This year also marks the first audit with a new independent auditing firm. While our previous auditors have continued to assist us through this transition, we are not yet at the finish line in completing the year-end audit," said Douglas Nichols, Chairman of the Board.
Nichols continued, "Management and staff are working diligently to complete the audit and file within the 15-day extension period. Of course, the final timeline also depends on the completion of our auditors’ procedures, and we expect more clarity on that soon."
Despite these temporary delays in the audit process, Armanino’s operations remain strong. For Q1 2025, the Company anticipates reporting another quarter of record sales and net income.
"We thank our shareholders for their ongoing trust and patience as we work through these reporting requirements. We remain committed to full transparency and to upholding the high standards that have defined Armanino for decades," Mr. Nichols added.
Armanino Foods of Distinction, Inc. is an international food company that manufactures and markets frozen Italian specialty food items to the foodservice, retail, and industrial markets. In addition to a classic Basil Pesto, Armanino offers other flavors and sauces including Cilantro, Dried Tomato & Garlic, Roasted Red Bell Pepper, Southwest Chipotle, Artichoke, Roasted Garlic, Light Basil Pesto, Chimichurri, Harissa, Bolognese, and Alfredo. Armanino’s organic line includes classic Basil Pesto. Finally, Armanino Foods also offers cheese shakers, frozen pastas, and meatballs.
Cautionary Statements Regarding Forward-Looking Information
Statements in this news release regarding our expectations and beliefs about our future financial performance and trends in our markets are "forward-looking statements" as defined in the Private Securities Litigations Reform Act of 1995. Forward-looking statements often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," "project," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may."