August 17, 2010 // Franchising.com // HENDERSON, Nev. − Healthy Fast Food, Inc. (OTCBB: HFFI), parent to U-SWIRL International, Inc., the owner and franchisor of U-SWIRL Frozen Yogurt® cafés, today announced its second quarter financial results for the three and six months ended June 30, 2010.
Financial Highlights For Six Months Ended June 30, 2010 Compared to Six Months Ended June 30, 2009:
Financial Highlights for Three Months Ended June 30, 2010 Compared to Three Months EndedJune 30, 2009:
For more detailed information on the financial results, please refer to the financial charts reflected below and the Form 10Q filed with the U.S. Securities & Exchange Commission yesterday afternoon.
Hank Cartwright, Chief Executive Officer of Healthy Fast Food, stated, "We are very pleased with the success we have achieved, thus far, in expanding the U-SWIRL franchise system out of Nevada and into several states across the country. With 30 new stores contracted for development over the next three to five years and a number of new franchising deals in the works, we have made notable progress since opening our very first company-owned café just 16 months ago. This is a clear testament to the underpinning value that we are building in the U-SWIRL brand and to the fact that consumers simply love the U-SWIRL concept and self-serve experience."
FINANCIAL CHARTS TO FOLLOW
HEALTHY FAST FOOD, INC. CONDENSED CONSOLIDATED BALANCE SHEET Q1-10 Balance Sheet
HEALTHY FAST FOOD, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Q1-10 Statement of Operations
U-SWIRL International is a wholly owned subsidiary of Healthy Fast Food, Inc., and is launching a national chain of self-serve frozen yogurt cafés called U-SWIRLFrozen Yogurt®. U-SWIRL allows guests the ultimate choice in frozen yogurt by providing up to 20 non-fat flavors, including tart, traditional, no sugar-added options, and up to 70 toppings, including seasonal fresh fruit, sauces, candy and granola. Guests serve themselves and pay by the ounce instead of by the cup size. A healthier alternative to a coffee shop hang out, locations are furnished with couches and tables, and patio seating. In addition to its development of Company-owned cafés, U-SWIRL International has also launched its franchise program to roll out the concept nationwide in those states in which the Company is qualified to offer franchises.
Headquartered in Henderson, Nevada, Healthy Fast Food, Inc. is on a mission to deliver consumers a smarter alternative to America's favorite meals and snacks. In September 2008, the Company and its wholly-owned subsidiary, U-SWIRL International, Inc., acquired the worldwide rights to the U-SWIRL Frozen Yogurt system. Sole ownership of the system was transferred to U-SWIRL International, Inc., and it has been executing an aggressive strategy to build the brand into a globally recognized chain of highly experiential frozen yogurt cafés.
This press release contains forward-looking statements regarding the timing and financial impact of Healthy Fast Food, Inc.'s ability to implement its business plan, expected revenues and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Healthy Fast Food's periodic filings with the Securities and Exchange Commission, including without limitation, the Company's Annual Report for the year ended December 31, 2009. The forward looking-statements in this press release are based upon management's reasonable belief as of the date hereof. Healthy Fast Food undertakes no obligation to revise or update publicly any forward-looking statements for any reason.