PFAI News & Events

Pinnacle Food Group announced that its wholly owned subsidiary, Pinnacle Food AgTech, has entered into a research and technology collaboration agreement with Bioboost Synbio Consulting, a biotechnology consulting company based in Vancouver, Canada. Under the agreement, the parties will collaborate on biotechnology and precision fermentation research applications, including research activities related to recombinant human lactoferrin, or rhLF, a naturally occurring protein found in human milk that is recognized for its potential applications in health, nutrition, and functional food development. The collaboration will also include technical consulting services, ecosystem scouting, and the evaluation of research directions and technical feasibility, including but not limited to areas related to agricultural technology, food technology and biotechnology.

Pinnacle Food Group announced a strategic initiative to establish a bioengineering and testing laboratory. The Company is exploring applied bioengineering initiatives to further expand its smart agriculture innovation platform into bioengineering applications, supporting its future growth. "Today's announcement reflects the Company's commitment to evolving beyond traditional food industry boundaries and exploring potential applications of applied bioengineering that may support or enhance its smart agriculture innovation platform," said Jiulong You, CEO of the Company. "We are pleased to partner with Bioboost, whose specialized expertise will help our lab meets the high standards of safety, efficiency and regulatory compliance."

Reports FY24 revenue $3.29M vs $1.2M last year. "We are encouraged by our strong revenue performance in fiscal 2024," said Pinnacle chief executive Jiulong You. "Going forward, we anticipate our sales mix shifting to include more of our larger smart farming systems sold to community groups and urban farms, thus improving our revenue base and margins. We also intend to expand our sales footprint into the APAC region, where we believe demand for smart farming systems is growing rapidly."

Pinnacle Food Group said that the company received a notice from Nasdaq Stock Market stating that because the company had not yet filed its annual report on Form 20-F for the year ended December 31, 2024, the company is not in compliance with Nasdaq's listing rule 5250, which requires timely filing of periodic financial reports with the SEC. The Nasdaq notice has no immediate effect on the listing or trading of the company's common stock on Nasdaq.