UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
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Title of each class | Trading Symbol | Name of each exchange on which registered | ||
Item 2.02 Results of Operations and Financial Condition.
On March 13, 2023, Muscle Maker, Inc. (the “Company”) issued a press release announcing certain unaudited preliminary revenue results for the month of February 2023 with respect to the operations of Sadot LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.
As provided in General Instruction B.2 of Form 8-K, the information in this Item 2.02 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
Exhibit Number | Description | |
99.1 | Press Release dated March 13, 2023 | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
MUSCLE MAKER, INC. | |||
By: | /s/ Michael Roper | ||
Name: | Michael Roper | ||
Title: | Chief Executive Officer | ||
Date: | March 13, 2023 |
Exhibit 99.1
Muscle Maker, Inc. Reports Top Line Revenue Over $58 Million for February 2023
Fort Worth, Texas, March 13, 2023 (ACCESSWIRE) — Muscle Maker, Inc. (Nasdaq: GRIL), (the “Company”), today announced that it has achieved top line revenue of over $58 million for the month of February 2023. This revenue announcement marks the achievement of 4 consecutive months above $50 million for the company and demonstrates continued success of its wholly owned Sadot subsidiary.
“We are extremely pleased with February’s revenue results,” stated Michael Roper, CEO. “Sadot’s consistent top line contribution, especially during the traditionally slower season of the annual business cycle, continues to reflect the execution on our strategic vision for the Company.
“We also look forward to reporting our fully audited financials later this month and discussion around the bottom-line impact and our planned initiatives for continued success.”
About Muscle Maker, Inc.
Muscle Maker, Inc. is the parent company of “healthier for you” brands delivering high-quality healthy food options to consumers through traditional and non-traditional locations such as military bases, universities, delivery and by direct-to-consumer ready-made meal prep options. Brands include Muscle Maker Grill Restaurants, Pokemoto Hawaiian Poke and SuperFit Foods meal prep. The menus highlight healthier versions of traditional and non-traditional dishes and feature grass fed steak, lean turkey, chicken breast, Ahi tuna, salmon, shrimp, tofu, and plant-based options. For more information on Muscle Maker, Inc., visit www.musclemakergrill.com, for more information on Pokemoto visit www.pokemoto.com or for more information on SuperFit Foods visit www.superfitfoods.com.
About Sadot LLC
Sadot is a wholly owned subsidiary of Muscle Maker, Inc. Sadot’s goal is to create a comprehensive, global food company that stretches from sustainable farming, agricultural commodity shipping and trading, distribution, production and ultimately reaches consumers through our restaurant, franchise, and meal prep companies. Sadot currently focuses on international agricultural commodity shipping and trading for items such as soybean meal, wheat, and corn. Shipments are via commercial cargo ships that can range between 25,000 to 75,000 metric tons.
Forward-Looking Statements
This press release may include “forward-looking statements” pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products, or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as “should”, “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” and “proposes.” Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in documents that we file from time to time with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Muscle Maker, Inc., does not undertake any duty to update any forward-looking statements except as may be required by law.
Investor Relations:
Frank Pogubila
SVP
Integrous Communications
W - 951.946.5288
E - IR@musclemakergrill.com
Cover |
Mar. 13, 2023 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Mar. 13, 2023 |
Entity File Number | 001-39223 |
Entity Registrant Name | MUSCLE MAKER, INC. |
Entity Central Index Key | 0001701756 |
Entity Tax Identification Number | 47-2555533 |
Entity Incorporation, State or Country Code | NV |
Entity Address, Address Line One | 1751 River Run |
Entity Address, Address Line Two | Suite 200 |
Entity Address, City or Town | Fort Worth |
Entity Address, State or Province | TX |
Entity Address, Postal Zip Code | 76107 |
City Area Code | (832) |
Local Phone Number | 604-9568 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, $0.0001 par value |
Trading Symbol | GRIL |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | true |
Elected Not To Use the Extended Transition Period | false |
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