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iFresh Inc. (IFMK)

NasdaqCM - NasdaqCM Real Time Price. Currency in USD
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0.8631+0.0431 (+5.26%)
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Previous Close0.8200
Open0.8600
Bid0.8200 x 1800
Ask0.8393 x 1000
Day's Range0.8205 - 0.8631
52 Week Range0.3410 - 2.8300
Volume175,681
Avg. Volume475,836
Market Cap26.092M
Beta (5Y Monthly)-3.48
PE Ratio (TTM)N/A
EPS (TTM)-0.0700
Earnings DateAug 13, 2020 - Aug 14, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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  • GlobeNewswire

    iFresh Announces the Cancellation of Special Meeting of Shareholders

    NEW YORK, Sept. 17, 2020 (GLOBE NEWSWIRE) -- iFresh, Inc. (“iFresh” or the “Company”) (Nasdaq: IFMK), a leading Asian American grocery supermarket chain and online grocer, today announced that its Board of Directors has determined to cancel the special meeting of its shareholders scheduled for September 18, 2020 at which the Company had been intending to seek approvals by the shareholders of the Series A Share Exchange Proposal, the Series B Share Exchange proposal, the Nasdaq Proposal, and the Adjournment Proposal.  A new meeting date for the re-scheduled shareholders’ meeting will be announced by the Company in the near future.About iFresh, Inc.iFresh Inc. (Nasdaq: IFMK), headquartered in Long Island City, New York, is a leading Asian American grocery supermarket chain and online grocer on the east coast of U.S. With nine retail supermarkets along the US eastern seaboard (with additional stores in Glen Cove, Miami and Connecticut opening soon), and one in-house wholesale business strategically located in cities with a highly concentrated Asian population, iFresh aims to satisfy the increasing demands of Asian Americans (whose purchasing power has been growing rapidly) for fresh and culturally unique produce, seafood and other groceries that are not found in mainstream supermarkets. With an in-house proprietary delivery network, online sales channel and strong relations with farms that produce Chinese specialty vegetables and fruits, iFresh is able to offer fresh, high-quality specialty produce at competitive prices to a growing base of customers. For more information, please visit: http://www.ifreshmarket.com/.Cautionary Statement Regarding Forward-Looking StatementsThis press release contains within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include timing of the proposed transactions; the business plans, objectives, expectations and intentions of the parties once the transactions are complete, and the Company’s estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. All information provided in this press release is as of the date hereof. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.Additional information concerning these and other factors that may impact our expectations and projections can be found in our periodic filings with the SEC. IFMK's SEC filings are available publicly on the SEC's website at www.sec.gov. IFMK disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise.For more information, please contact: At the Company:iFresh, Inc.Email: herinyin@newyorkmart.com

  • GlobeNewswire

    iFresh Launches E-commerce Site in English

    Broadening Customer Base Through New PR CampaignNEW YORK, Aug. 28, 2020 (GLOBE NEWSWIRE) -- iFresh, Inc. (“iFresh” or the “Company") (Nasdaq: IFMK), a leading Asian American supermarket chain and online grocer, announced today that the Company launched its E-commerce site www.onlineifresh.com in English as part of its expansion efforts to reach out customers beyond the Chinese-speaking community. The Company has engaged Benvenuti Public Relations, a full-service public relations, marketing and social media firm specializing in the hospitality, food and beverage, and lifestyle industries since 1993. This relationship has resulted in a new PR campaign designed to reach new customers and enhance brand awareness. The new campaign anticipates that the bilingual website will serve as an initial starting point for attracting more customers, boosting sales and exposure in other channels.   In regards to the launch, Mr. Long Deng, Chief Executive Officer and Chairman of iFresh, stated, “Online shopping continues to grow in popularity as the pandemic continues. This causes customers to look online for their grocery shopping needs. Recently, Asian cuisines have gained wide-spread global recognition for being healthy yet delicious, especially in the U.S. As one of the leading Asian American supermarket chains, our bilingual site delivers an easy-to-navigate browsing and shopping experience for customers. Customers will find the best of what iFresh offers across a variety of Asian grocery selections. We look forward to serving customers of all backgrounds.”Visit www.onlineifresh.com for more information or follow @onlineifresh on Instagram.About iFresh, Inc.iFresh Inc. (Nasdaq: IFMK), headquartered in Long Island City, New York, is a leading Asian American grocery supermarket chain and online grocer on the east coast of U.S. With nine retail supermarkets along the US eastern seaboard (with additional stores in Glen Cove, Miami and Connecticut opening soon), and one in-house wholesale business strategically located in cities with a highly concentrated Asian population, iFresh aims to satisfy the increasing demands of Asian Americans (whose purchasing power has been growing rapidly) for fresh and culturally unique produce, seafood and other groceries that are not found in mainstream supermarkets. With an in-house proprietary delivery network, online sales channel and strong relations with farms that produce Chinese specialty vegetables and fruits, iFresh is able to offer fresh, high-quality specialty produce at competitive prices to a growing base of customers. For more information, please visit: http://www.ifreshmarket.com/.Forward-Looking StatementsCertain statements made herein are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include timing of the proposed transactions; the business plans, objectives, expectations and intentions of the parties once the transactions are complete, and the Company’s estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. All information provided in this press release is as of the date hereof. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.Additional information concerning these and other factors that may impact our expectations and projections can be found in our periodic filings with the SEC. IFMK's SEC filings are available publicly on the SEC's website at www.sec.gov. IFMK disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise.For more information, please contact: At the Company:iFresh, Inc.Email: herinyin@newyorkmart.com

  • GlobeNewswire

    iFresh Announces Completion of Acquisition of Jiuxiang Blue Sky Technology (Beijing) Co., Ltd.

    NEW YORK, Aug. 27, 2020 (GLOBE NEWSWIRE) -- iFresh, Inc. (“iFresh” or the “Company”) (Nasdaq: IFMK), a leading Asian American grocery supermarket chain and online grocer, is pleased to announce that it has completed acquisition of Jiuxiang Blue Sky Technology (Beijing) Co., Ltd. (“Jiuxiang”), a technology company that engages in supply chain financial services, integrated payment systems, and prepaid card marketing systems (the “Acquisition”). As a result of the Acquisition, Jiuxiang has become an indirect wholly-owned subsidiary of iFresh.Jiuxiang specializes in providing supply chain financial services that satisfy customer demands for green products and services and that improve environmental performance. Jiuxiang has developed an advanced supply chain platform targeting Business to Business to Consumer (B2B2C))areas, including signature products of jiayoubei online shopping malls, single-purpose prepaid card payment systems, and supply chain systems. These products adopt an integrated operating model and centralized IT-infrastructure to help clients capitalize on new digital capabilities, including enhanced connectivity, online-to-offline shopping experience, digital payment systems, and customized SME system platforms.Pursuant to the terms of the Acquisition,the Company acquired 100% of the equity interests in Jiuxiang in exchange for the issuance of an aggregate of 5,036,298 shares of the Company’s common stock and 1,000 shares of the Company’s Series C Convertible Preferred Stock.  Upon approval of the Company’s shareholders, the 1,000 shares of Series C Preferred Stock will be converted into 1,916,781 shares of the Company’s common stock.Mr. Long Deng, Chairman of iFresh, stated, “We are thrilled to complete this Acquisition and launch Jiuxiang’s integrating supply chain technology within our business. iFresh is determined to be at the forefront of online grocery business providers. The closing of the Acquisition represents an important milestone for the Company, because it will allow us to strengthen our E-commerce business model and expand our customer base.”Ms. Ming Liu, CEO of Jiuxiang, commented, “We are very happy to move forward with this strategic partnership with iFresh. With this Acquisition, our best-in-class retail mobile technology platform will be launched in the U.S. market. This launch embodies our ambition to grow globally and will expose more businesses and companies to greener alternatives. Together, we believe our combined expertise and resources will deliver better business outcomes.”About iFresh, Inc.iFresh Inc. (Nasdaq: IFMK), headquartered in Long Island City, New York, is a leading Asian American grocery supermarket chain and online grocer on the east coast of U.S. With nine retail supermarkets along the US eastern seaboard (with additional stores in Glen Cove, Miami and Connecticut opening soon), and one in-house wholesale business strategically located in cities with a highly concentrated Asian population, iFresh aims to satisfy the increasing demands of Asian Americans (whose purchasing power has been growing rapidly) for fresh and culturally unique produce, seafood and other groceries that are not found in mainstream supermarkets. With an in-house proprietary delivery network, online sales channel and strong relations with farms that produce Chinese specialty vegetables and fruits, iFresh is able to offer fresh, high-quality specialty produce at competitive prices to a growing base of customers. For more information, please visit: http://www.ifreshmarket.com/.Forward-Looking StatementsCertain statements made herein are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include timing of the proposed transactions; the business plans, objectives, expectations and intentions of the parties once the transactions are complete, and the Company’s estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. All information provided in this press release is as of the date hereof. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.Additional information concerning these and other factors that may impact our expectations and projections can be found in our periodic filings with the SEC. IFMK's SEC filings are available publicly on the SEC's website at www.sec.gov. IFMK disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise.For more information, please contact: At the Company:iFresh, Inc.Email: herinyin@newyorkmart.com