Financial Performance - Revenue for the three months ended September 30, 2024, was $2.584 million, a decrease of $705 thousand (21.4%) from $3.289 million in the same period of 2023, primarily due to a strategic shift away from lower margin products[143]. - Cost of goods sold decreased by $1.392 million (42.5%) to $1.885 million for the three months ended September 30, 2024, compared to $3.277 million in 2023, driven by seasonally low sales and reduced reliance on third-party growers[144]. - Selling, general and administrative expenses (SG&A) were $2.189 million for the three months ended September 30, 2024, down $198 thousand (8.3%) from $2.387 million in 2023, due to reduced labor costs and professional fees[145]. - The loss from operations improved by $885 thousand (37.3%) to $1.490 million for the three months ended September 30, 2024, compared to a loss of $2.375 million in 2023[146]. - Net loss for the three months ended September 30, 2024, was $2.063 million, a decrease of $368 thousand (15.1%) from a net loss of $2.431 million in 2023, attributed to a 27% expansion in gross profit margin[148]. - Revenue for the nine months ended September 30, 2024, was $9.985 million, an increase of $20 thousand (0.2%) from $9.965 million in 2023, driven by increased demand for core products[149]. - Cost of goods sold for the nine months ended September 30, 2024, was $7.696 million, a decrease of $1.729 million (18.3%) from $9.425 million in 2023, due to reduced reliance on third-party growers[152]. - SG&A expenses increased by $1.365 million (18.3%) to $8.823 million for the nine months ended September 30, 2024, primarily due to a one-time severance charge and higher professional fees[153]. - Net loss for the nine months ended September 30, 2024, was $7.972 million, compared to a net loss of $5.948 million in 2023, with the previous year's loss including a one-time Employee Retention Credit of $1.233 million[157]. Cash Flow and Financing - As of September 30, 2024, the company had $2.214 million in cash and cash equivalents, an increase from $510 thousand as of December 31, 2023, and raised approximately $4.797 million from a public offering[162]. - The company entered into a merchant cash advance agreement with Cedar Advance LLC, selling $2,485,000 in accounts receivable for $1,544,250 in net funds provided[166]. - Cash used for operating activities during the nine months ended September 30, 2024, was $6.761 million, a slight decrease from $6.778 million in the same period of 2023[169]. - Cash used in investing activities decreased to $177 thousand in the nine months ended September 30, 2024, compared to $800 thousand in 2023, due to lower purchases related to the Michigan facility[169]. - Cash provided by financing activities was $8.642 million for the nine months ended September 30, 2024, down from $10.046 million in 2023, reflecting a $1.4 million decrease[170]. - The company received approximately $1.1 million in net proceeds from the sale of common stock under the Equity Distribution Agreement after deducting a 3.5% commission[167]. - The financing activities included an incremental $2.27 million in debt proceeds from the Cedar agreements, offset by $3.1 million in debt repayments[170]. - Cash provided by equity activities increased by $1.2 million due to sales under the EDA, despite a reduction of $686 thousand in public offering proceeds year over year[170]. - The company is required to pay Cedar 35.0% of all funds collected weekly from customers until the total balance of $2,485,000 is repaid[166]. - Cedar is authorized to withdraw $65,000 weekly from the company's bank account until a reconciliation is provided[166]. - The Cedar Agreement is collateralized by the company's cash and receivable accounts, with specific remedies in case of default[166]. Business Operations and Strategy - The company reported a gross proceeds of approximately $5.6 million from the September public offering, which included 4,240,650 common units and 11,460,000 pre-funded units[134]. - The company acquired Edible Garden Corp. for a nominal price of $1.00, assuming a lease with a monthly payment of approximately $22,189[130][132]. - The company prepaid $3,106,458 of outstanding principal and $9,061 of accrued interest on a secured promissory note, recognizing a loss from extinguishment of debt equal to $163,584[133]. - The company utilizes a proprietary software, GreenThumb, to enhance traceability and quality control, integrating real-time sales data and inventory management[124][125]. - The company focuses on sustainable practices, including a closed loop system that recycles water and uses LED lights to reduce resource consumption[126]. - The company is subject to risks regarding Nasdaq compliance, having received a notice for not meeting the minimum bid price requirement[128][129]. - The company has a history of losses and faces challenges in obtaining additional financing and managing growth effectively[120]. - The company emphasizes its brand "Edible Garden" as a differentiator, aiming to expand its product portfolio in the Consumer Brands category[127]. - The company reported that its controlled environment agriculture techniques allow for year-round production of consistent quality herbs and lettuces[123]. - The company has incurred net operating losses, fully offset by a valuation allowance as of September 30, 2024[140].

Core Insights - Edible Garden AG Incorporated has received grants from the USDA's Organic Certification Program to assist with the costs of organic certification and processing/handling certifications [1][2] - The funding will support the company's research and development efforts for new product innovation while maintaining its commitment to sustainable agriculture [2] - Edible Garden operates state-of-the-art greenhouses and processing facilities in New Jersey and Michigan, and offers a range of organic and sustainable products available in over 5,000 stores across the U.S. [3] Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce [3] - The company utilizes patented technologies such as GreenThumb software and self-watering displays to enhance farming efficiency and reduce environmental impact [3] - Edible Garden also develops plant and whey protein powders, as well as sustainable food flavoring products, catering to health-conscious consumers [3]

BELVIDERE, NJ, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated ("Edible Garden" or the "Company") (Nasdaq: EDBL, EDBLW), a leader in controlled environment agriculture (CEA), locally grown, organic, sustainable produce and products, today announced that it is now shipping its full USDA Organic herb product line to H Mart stores in the Southeast region. H Mart is the largest Asian supermarket chain in the United States and a pioneer in bringing Asian food to the U.S. market. Established in 19 ...

Core Viewpoint - Edible Garden AG Incorporated has successfully closed a public offering of 15,700,650 shares of common stock and accompanying warrants, raising approximately $5.65 million to support growth initiatives and strengthen its balance sheet [1][2]. Group 1: Offering Details - The public offering included 15,700,650 shares of common stock and Class A and Class B warrants, priced at $0.36 per share [1]. - The gross proceeds from the offering, before deducting fees and expenses, were approximately $5.65 million [1]. - The Class A warrants will expire five years from the issuance date, while the Class B warrants will expire eighteen months from the issuance date [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be used for growth initiatives, general corporate purposes, and to repay approximately $3.2 million of short-term debt [2]. Group 3: Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce [4]. - The company operates state-of-the-art greenhouses and processing facilities in New Jersey and Michigan, with a network of contract growers near major U.S. markets [4]. - Edible Garden utilizes patented technologies such as GreenThumb software and self-watering displays to enhance its farming and retail operations [4].

As filed with the Securities and Exchange Commission on September 24, 2024. Registration No. 333-281957 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Pre-Effective Amendment No. 2 FORM S-1/A REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 EDIBLE GARDEN AG INCORPORATED (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary standard industrial classification code number) Delaware 100 85-0558704 (I.R.S. em ...

As filed with the Securities and Exchange Commission on September 17, 2024. Registration No. 333-281957 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Pre-Effective Amendment No. 1 FORM S-1/A REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 EDIBLE GARDEN AG INCORPORATED (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary standard industrial classification code number) Delaware 100 85-0558704 (I.R.S. em ...

Core Insights - Edible Garden AG Incorporated has expanded its distribution network by partnering with Green's Natural Foods and The Extra Supermarkets in New York and New Jersey, making its USDA Organic herb product line available at these locations [1][2] Group 1: Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce, supported by its Zero-Waste Inspired® farming practices [3] - The company operates state-of-the-art greenhouses and processing facilities in Belvidere, New Jersey, and Grand Rapids, Michigan, and has a network of contract growers near major U.S. markets [3] - Edible Garden's proprietary GreenThumb 2.0 software optimizes growing in both vertical and traditional greenhouses, aiming to reduce pollution from food transportation [3] Group 2: Product Offerings - The company offers a range of products, including plant and whey protein powders under the Vitamin Way® and Vitamin Whey® brands, as well as sustainable food flavoring products like Pulp gourmet sauces [3] - Edible Garden also features a Kick Sports Nutrition line that caters to health-conscious athletes with premium performance products [3] Group 3: Partnerships and Market Strategy - The partnership with Green's Natural Foods aligns with Edible Garden's mission of environmental sustainability and food safety, enhancing the availability of fresh, high-quality products [2] - Collaborating with The Extra Supermarkets allows Edible Garden to meet the growing consumer demand for healthier, eco-friendly options, thereby expanding its reach across the Northeast [2]

Core Insights - Edible Garden AG Incorporated is participating in ECRM's Vitamin, Weight Management & Sports Nutrition Session to showcase its Kick Sports Nutrition product line, emphasizing its commitment to cleaner ingredients and innovative formulas for health-conscious athletes [1][3] Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce, with products available in over 5,000 stores across the U.S. [4] - The company employs Zero-Waste Inspired® farming practices and utilizes patented technologies such as GreenThumb software and self-watering displays to enhance sustainability and product quality [4] - Edible Garden operates state-of-the-art greenhouses and processing facilities in New Jersey and Michigan, supported by a network of contract growers near major U.S. markets [4] Product Offerings - The Kick Sports Nutrition line features premium performance products designed for health-conscious athletes, reflecting the company's dedication to quality and value [3][4] - Edible Garden also develops plant and whey protein powders under the Vitamin Way® and Vitamin Whey® brands, along with sustainable food flavoring products like Pulp gourmet sauces [4]

As filed with the Securities and Exchange Commission on September 5, 2024. FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 EDIBLE GARDEN AG INCORPORATED (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 100 85-0558704 (Primary standard industrial classification code number) Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (I.R.S. employer identification number) 283 Count ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-41371 EDIBLE GARDEN AG INCORPORATED (Exact name of registrant as specified in its charter) | --- | |-------| | | | | | | | | | No.) | Delaware (State or other jurisdiction of i ...