Huge Success with the Full Acquisition of McLovin’s for the Multi-Billion Dollar Pet Care Products Market: Caduceus Software Systems Corp. (OTC: CSOC)
– McLovin’s Pet Products Acquired as a Wholly Owned Subsidiary.
– Global Pet Food Market Projected to Reach $325 Billion by 2028.
– McLovin’s Presenting at Major Global Pet Expo 2022.
– $5 Million Distribution Agreement with Phillips Pet Food & Supplies.
– Share Cancellation and $1.7 Million Debt Restructuring to Protect and Enhance Shareholder Value.
Caduceus Software Systems Corp. (OTC: CSOC) is a Wyoming-based holding company with is wholly owned subsidiary McLovin’s, a Pet Food and Pet Care company. The Pet Food and Pet Care products include food, hygiene, toys, and other accessories.
CSOC McLovin’s, Inc. is a California company specialized on the manufacturing and distribution of quality pet foods. McLovin’s believes in real food. What you’ll find in McLovin’s is similar to what you’ll find in your own grocery cart. In the case of its premium treats, it starts (and ends) with real beef, chicken and salmon. CSOC products are developed using responsible sourcing and quality is a key part of every single part of the manufacturing process.
The Pet Food and Pet Care market size was USD 207 Billion in 2020 with a stellar growth of 28.11%. The industry is expected to grow to USD 325 Billion in 2028 at a CAGR of 5.6%. Pet Food and Pet Care products include food, hygiene, toys, and other accessories.
– CSOC McLovin’s Presenting at Global Pet Expo 2022
On March 15th CSOC announced its McLovin’s subsidiary will be attending and presenting at the Global Pet Expo 2022 Trade Show after great success at the 2021 event.
Through McLovin’s CSOC has seen a phenomenal growth. McLovin’s recently published its financial results for the quarter ending in December 2021. The McLovin’s product portfolio spans across 2 different categories. One for pet food and the other for pet supplies, with 22 of food products and 15 of pet supplies products, totaling 37 products in the portfolio and counting. CSOC continues to invest heavily in its product development and believes that events such as last year’s SuperZoo and the upcoming Global Pet Expo are a prime opportunity to present its quality products to key industry stakeholders and professionals.
Global Pet Expo, presented by the American Pet Products Association (APPA) and Pet Industry Distributors Association (PIDA), is the pet industry’s premier event featuring the newest, most innovative pet products on the market today. The Global Pet Expo will take place March 23-25 at the Orange County Convention Center in Orlando, Florida. The Show is open to independent retailers, distributors, mass-market buyers, and other qualified professionals.
– CSCO Receives Additional Funding of $500,000 & Records $1.25 Million Revenue for the Quarter
On February 22nd CSOC announced recorded sales of USD 1.25M for the last quarter. CSOC also announced that it has received additional funding of USD 500,000. During the quarter assets increased to USD 3.84 million from USD 1.99 million in the previous quarter.
– Key Hires & Appointment of Chairman
On January 20th CSOC proudly welcomed to its team, two new key hires and appoints an Executive Chairman of the Board. These announcements were as follows:
– Mr. David Ji as Executive Chairman of the Board.
– Mr. Corley Heiserman as McLovin’s as the Vice-President of Sales.
– Ms. Miao Kang as McLovin’s as the Chief Revenue Officer of e-Commerce Sales.
Mr. David Ji, founder, and CEO of McLovin’s joined the CSOC as Executive Chairman of the board. A serial entrepreneur with multiple successes under his belt, Mr. Ji founded in 1997 Apex Digital, Inc., a company that specialized in the manufacturing and distribution of DVD Players, TVs & Cameras. By 2001, the Apex DVD player were sold at all major retailers in the US, became #2 in ranking after Sony by popularity and by unit volume sold in the US market. In 2002 Apex had beaten all major TV brands, became the # 1 best seller TV in the US market and by 2003 Apex reached $2b USD in annual sales for the first time.
“Mr. Ji was featured in the Los Angeles Times, The Wall Street Journal, Forbes Magazine and Times Magazine for his accomplishments with Apex’s sales. Mr. Ji’s skills, experience with manufacturing and distribution, knowledge of supply chain and network of logistics are a valuable resource and a major asset to McLovin’s and to the Company.” Said Alex Chen, Chief Executive Officer of CSOC.
Mr. Corley Heiserman is an accomplished C-Level executive and a career sales professional, having worked at well-known companies with proven track records. Prior to joining CSOC Corley worked as the VP Sales for Philip’s Pet, the #1 distributor in the US pet sector (an important partner to CSOC McLovin’s).
During his 4-year tenure at Philip’s, Corley played an instrumental leadership role where he grew the revenue base from $185 Million to $540 Million. Previously, Corley served as a Regional Sales Manager with Napoleon, the market leader in BBQ grills serving stores like Home Depot, Lowes, Walmart. At Precise Design Group, as the National Director of Sales, Corley provided design and project management services to large commercial customers such as supermarkets, shopping centers and retail stores. Before that, Corley acted as a director of sales for Electrolux, a home appliance manufacturer whose brand is well known and respected in the market, with annual sales of around $12 Billion.
Ms. Miao Kang is a digital marketing expert. Before joining CSOC Ms. Miao worked at P3 Media in New York, an e-commerce and media agency. Ms. Miao honed her skills in the fast moving, constantly changing digital advertising industry and became a guru in e-commerce with in-depth understanding of the industry, acute awareness of the trends and expert knowledge of social media platforms, paid media management, email marketing & analytics.
– CSOC Partners with SRAX
On October 14th CSOC announced it has signed an agreement to engage SRAX (NASDAQ: SRAX), a digital marketing and consumer data-management technology company, to assist in its investor outreach and growth initiatives.
CSOC McLovin’s is a consumer-focused company. It is imperative for a Company like McLovin’s to understand the demographics of the markets is operates in. This partnership will allow the CSOC management to properly tailor the marketing and communication strategies it uses and more importantly to use the most efficient channels to reach out to consumers, shareholders, and investors. SRAX is uniquely positioned as a financial technology and digital marketing company. This partnership will propel CSOC and McLovin’s profile even further.
“We have been following SRAX for some time now. The Company’s foray into the crypto token space through BigToken, as well as its expertise in the digital marketing space are impressive achievements. We believe this endeavor is going to be a very successful one and create further value for the Company and its shareholders.”, said Alex Chen, Chief Executive Officer of Caduceus Software Systems, Inc.
SRAX (NASDAQ: SRAX) is a financial technology company that unlocks data and insights for publicly traded companies. Through its premier investor intelligence and communications platform, Sequire, companies can track their investors’ behaviors and trends and use those insights to engage current and potential investors across marketing channels. For more information on SRAX, visit www.SRAX.com.
– CSOC Expands eCommerce Initiatives
On September 14th CSOC announced that it would be increasing its eCommerce & Online sales initiatives. McLovin’s products are currently available online on the eCommerce platforms of Amazon, Kroger’s and Walmart. Following a quarterly review of the McLovin’s online sales on current ecommerce platforms, CSOC feels strongly about the actual growth of online sales and is undertaking an expansion initiative to increase the size of the eCommerce team as well as the marketing efforts towards online sales.
Tom Elliott, managing director of investment firm Capstone Headwaters, said, “One of the driving factors behind the trend was the growth of millennial pet owners that were preconditioned to online shopping. The pandemic has taken this storyline and put it on steroids.”
In a new report from Capstone, “Pet Humanization Accelerates Through COVID-19,” Elliott added that it’s not just millennials shopping more online now; the shutting down of retailers has also pushed boomers to purchase more online. Even with pet retailers being deemed essential businesses fairly early in the crisis, many people have still preferred to stay home and shop online rather than risk being around others.
As huge e-commerce surge, pet food is along for the ride. According to data from IBISWorld cited in the Capstone report, e-commerce sales overall reached a whopping US$211.5 billion in the U.S. in the second quarter of 2020, or 16.1% of total U.S. retail sales. Those amounts represent a 44.5% increase from the same quarter in 2019 and a 31.8% rise from the first quarter of 2020.
Pet food and other pet products have contributed about 10% of e-commerce sales, at around US$10 billion; IBISWorld projects that amount to hit US$15.5 billion by 2025, growing at a compound annual growth rate (CAGR) of 6.9% between now and then.
Projecting to 2024, Packaged Facts expects e-commerce to account for 34% of the U.S. pet market, or about US$24 billion. (Projected sales for pet food in 2024 are US$48.07 billion and US$22.74 for other pet products, a total of US$70.81 billion.
– $5 Million Distribution Agreement with Phillips Pet Food & Supplies
On September 1st CSOC announced that it had signed an exclusive distribution agreement with Phillips Pet Food & Supplies. The agreement calls for the delivery of 100 containers of McLovin’s products. The value of the contract is USD 5 Million.
– Share Cancellation & 1.7 Million Debt Restructuring
On June 30th CSOC announced it has reached an agreement to amend a Promissory Note of USD 1,707,561. With this last settlement, CSOC completed the settlement of all liabilities from previous management.
As part of its reorganization efforts, CSOC reached an agreement with the Debt-holder of the Promissory Note by amending the conversion rate from USD 0.001 to USD 0.10 per common stock share subject to a blocker clause of no more than 10% of the outstanding shares. Only 17 million can now be issued from this Promissory Note. This represents a major reduction from the 1.7 billion shares and an unprecedented step to protect and create value for CSOC and its shareholders.
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