ADDED
As of May 31, 2025, 10,567,543 shares of the registrant s common stock were outstanding.
The infant, toddler and juvenile products segment consists of infant and toddler bedding, diaper bags, bibs, disposables, toys and feeding products.
References herein to fiscal year 2025 or 2025 represent the 52-week period ended March 30, 2025, and references herein to fiscal year 2024 or 2024 represent the 52-week period ended March 31, 2024.
On July 19, 2024 , NoJo acquired substantially all of the assets, and assumed certain specified liabilities, of Baby Boom Consumer Products, Inc.
(the Acquisition ), for a purchase price of $18.0 million in cash, subject to a dollar-for-dollar adjustment to the extent that the working capital at closing was greater or less than the target working capital of approximately $6.5 million.
The Acquisition was funded by the Company using the proceeds of an $8.0 million term loan from the CIT Group/Commercial Services, Inc.
( CIT ) and additional borrowings under the Company s revolving line of credit with CIT.
represented 8% of the Company s total gross sales during fiscal years 2025 and 2024, respectively.
Sales of products marketed under the Company s trademarks, including Sassy , Manhattan Toy , NoJo , Baby Boom and Neat Solutions accounted for 39% and 38% of the Company s total gross sales during fiscal years 2025 and 2024, respectively.
The Company maintains foreign representative offices located in Shanghai and Shenzhen, China, which are responsible for the coordination of production, purchases and shipments, seeking out new vendors and overseeing inspections for social compliance and quality.
REMOVED
As of May 31, 2024, 10,310,719 shares of the registrant s common stock were outstanding.
All written or oral forward-looking statements that are made by or are attributable to the Company are expressly qualified in their entirety by this cautionary notice.
The infant, toddler and juvenile products segment consists of infant and toddler bedding and blankets, bibs, soft bath products, disposable products, developmental toys and accessories.
References herein to fiscal year 2024 or 2024 represent the 52-week period ended March 31, 2024, and references herein to fiscal year 2023 or 2023 represent the 52-week period ended April 2, 2023.
On March 17, 2023 (the Closing Date ), the Company acquired Manhattan Group, LLC ( Manhattan ) and MTE, Manhattan s then wholly-owned subsidiary (the Manhattan Acquisition ), for a purchase price of $17.0 million, subject to adjustments for cash as of the Closing Date and to the extent that actual net working capital as of the Closing Date differed from target net working capital of $13.75 million.
The Manhattan Acquisition was funded with available cash and borrowings under the Company s revolving line of credit with The CIT Group/Commercial Services ( CIT ).
From the Closing Date through the fiscal year ended March 31, 2024, the Company operated Manhattan as a wholly-owned subsidiary that manufactured and marketed developmental toys.
represented 8% and 5% of the Company s total gross sales during fiscal years 2024 and 2023, respectively.
Sales of products marketed under the Company s trademarks, including Sassy , Manhattan Toy , NoJo and Neat Solutions accounted for 38% and 35% of the Company s total gross sales during fiscal years 2024 and 2023, respectively.
The Company maintains a foreign representative office located in Shanghai, China, which is responsible for the coordination of production, purchases and shipments, seeking out new vendors and overseeing inspections for social compliance and quality.