AHF’s Q3 Launch: A Premium Pivot with 10x Multibagger Potential?!, page-120

AHF isn’t reliant on one customer.

Q3 sales come through three distinct channels, Mutree/M2C in China (with a $2.5M minimum order and upfront deposits), Nutura Organic under a fee-for-service manufacturing deal, and Vietnam distributor Dunamex, so cash inflows aren’t just AZ Global IOUs but secured, pre-funded contracts.

The YTD revenue “shortfall” reflects AHF winding down about $1M of low-margin farm revenue.

Strip that out, and infant-formula sales alone soared from roughly $600k last year to over $2M YTD in FY25. A 200%+ jump.

That deliberate pivot to higher-value, pre-funded contracts isn’t risk. It’s smart strategy paying off.