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Armanino Foods of Distinction Announcements and Developments

Significant Extension Filed for Annual Financial Disclosure

PLEASANTON, Calif., April 01, 2025 — (BUSINESS WIRE) — Today, Armanino Foods of Distinction, Inc. (OTCQX: AMNF) has officially announced that it has submitted an automatic extension of 15 days for its 2024 Annual Financial Disclosure with OTC Markets. This filing is crucial in ensuring adequate time and resources for completing their financial reporting accurately. The importance of such disclosures cannot be overstated, as they provide critical insights into the company’s financial health and operational efficiency.

Challenges Faced by the Company

The recent uplisting to the OTCQX Best Market in 2024 has introduced additional accounting and disclosure requirements for Armanino Foods. This heightened scrutiny has placed a significant burden on the company’s internal accounting staff, who must meet these new compliance challenges head-on. To add to the pressure, the departure of the organization’s CEO in January has resulted in the CFO taking on the responsibilities of Acting CEO. This transitional leadership change can complicate the operational landscape, as new leadership often requires a period of adjustment.

Transition to New Audit Firm

"This year also marks the first audit conducted by a new independent auditing firm. While our previous auditors are assisting us during this transitional phase, we are not yet at the finish line with the year-end audit," stated Douglas Nichols, Chairman of the Board. The transition to a new auditing firm can often introduce delays; however, it is a step that can foster greater transparency and reliability in the long term.

Commitment to Timely Completion

Nichols further emphasized the company’s commitment to completing the audit and filing within the extended timeframe. "Management and staff are working diligently to ensure timely completion. However, the final timeline is contingent upon the auditors’ procedures, and we anticipate gaining clarity on that matter shortly," he stated. Such statements are reassuring for stakeholders anxious about the impact of these delays on the company’s long-term trajectory.

Positive Operational Outlook

Despite the temporary setbacks in the auditing process, Armanino’s core operations continue to show strength. For the first quarter of 2025, the company expects to report another quarter of record sales and net income. This resilience demonstrates the company’s solid market position and effective operational strategies.

Gratitude to Shareholders

"We extend our sincere gratitude to our shareholders for their ongoing trust and patience as we navigate these reporting requirements. We remain steadfastly committed to transparency and maintaining the high standards that have defined Armanino Foods for decades," Mr. Nichols added. This message highlights the importance of maintaining open lines of communication with stakeholders during transitional and challenging periods.

Company Overview

Armanino Foods of Distinction, Inc. is an international food company engaged in the manufacturing and marketing of frozen Italian specialty food items for the food service, retail, and industrial markets. They offer a diverse array of sauces, including classic Basil Pesto, Cilantro, Dried Tomato & Garlic, and several other unique flavors. In addition, Armanino provides organic options, cheese shakers, frozen pastas, and meatballs, catering to a variety of culinary needs.

Forward-Looking Statements and Future Risks

Overview of Forward-Looking Statements

The statements in this press release concerning expectations and beliefs about future financial performance and market trends are termed "forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995. These declarations often include terms like "believe," "expect," "anticipate," and other similar terminology. Understanding the nature of these predictions is vital for investors and stakeholders.

Associated Risks and Uncertainties

However, these forward-looking statements carry inherent risks and uncertainties. Several factors may result in actual operating results deviating significantly from projected financial performance. These include economic conditions affecting consumer confidence, the ongoing repercussions from the COVID-19 pandemic, and various operational challenges.

How AI legalese decoder Can Help

In a landscape filled with intricate legal and regulatory requirements, Armanino Foods and similar companies can greatly benefit from using AI legalese decoder. This tool helps decode complex legal language into more digestible formats, making it easier for management and stakeholders to understand their obligations and the implications of various disclosures. By utilizing such technology, companies can ensure they remain compliant and informed during challenging transitions while saving precious time and resources.

Conclusion and Resources

For the most accurate and updated information regarding Armanino Foods, interested parties are encouraged to visit the OTC Markets website at OTC Markets – AMNF.

For further inquiries, please contact:

• Edgar Estonina
• CFO
• (510) 441-9300
• amnf@armaninofoods.com

This extended overview clarifies Armanino Foods’ recent developments and highlights how technological aids can support companies in navigating complex financial landscapes.

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