Good day and welcome to the Verus International, Second Quarter, Fiscal 2019 Financial Results Conference Call. Today’s conference is being documented. At the moment I would like to show the meeting to Mark Forney with MKR Group. Many thanks, operator. Afternoon everyone and welcome to Verus International Good, Second Quarter Fiscal 2019 Conference Call.
Yesterday we issued our second one-fourth fiscal 2019 financial results. A copy of the Press Release is on the Investor Relations portion of our website and the financials are posted on EDGAR. We survey our financials in U.S. ‘s conversation, we’ll use that currency unless normally noted. Before you begin our formal remarks, I’d prefer to remind listeners that today’s discussion may contain forward-looking statements that reflect management’s current views regarding future results or future events.
Any such claims are subject to dangers and uncertainties that could cause actual leads to vary materially from those projected in these forward-looking statements. Verus does not undertake to update any forward-looking statements except as required. You might also remember that in today’s call our executive team are both vacationing, therefore we’re hopeful that the quality of the call will remain consistent, but we appreciate everyone’s tolerance in that regard. I’d now prefer to switch the call to Verus CEO, Anshu Bhatnagar.
Thank you, Mark. First of all, I’d like to welcome our new shareholders who might be hearing my voice for the very first time and welcome back again all our long-time shareholders. It’s been a while since we held one of these calls. The main element event in Q2 was obviously the recapitalization announced on February 11, 2019 which eliminated our variable rate convertible debt and gave us a fresh starting place to grow the company.
We are particularly grateful to your lead traders Andrew Garnock, Rick Berdon, Don Monaco, and Monaco Group for making that possible. In February and March 14 million in new backlog via the honey and rice areas. These basic product categories represent the type of steady, stable business that over time will create a base of dependable cash flow.
So when the margins are right, we will continue steadily to seek out this kind of business to check our specialty top quality product offering. We publication ended this one-fourth with another major event, the acquisition of Big League Foods, which we announced in the last week of April. That acquisition gave us more than a turnkey subsidiary and opened the largest market for us just, the United States, and also gave us an industry veteran in Jim Wheeler. The acquisition of Big League Foods was very important on multiple levels, that may have ramifications across our entire business.
Even with a turnkey of functions there’s a startup checklist. Week establishing accounts So we spent the first, buying product packaging and completing the normal pre-launch duties an ongoing company in New Range and new supplier romantic relationships. I’m excited to state that everything is moving along well and on schedule. The MLB groups we will feature in the snow cream lines would be the Chicago Cubs, Boston Red Sox, NY Philadelphia, and Yankees Phillies. So everyone in those markets will get their first taste.
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We’ll start with pint sized packaging and four flavors. We have additional flavors read to go and can add to the series later as needed. This area of the line will feature premium ice cream with an objective to produce high quality products that will generate repeat purchases based on the product quality and taste, along with fan loyalty.
Our first production run will account for our eight to nine, after which will begin shipping via our distributors to locations in approximately 2,500 store footprints within the metro market for each united team. We will get some income contributions from this business next quarter, which ends July 31, but the subsidy will really begin to contribute in successive quarters. The initial candy shipments will follow an identical pattern with the store mix wearing someone.
Candy has a much bigger potential for seed because it can be placed in locations that don’t have freezer cases. Nowadays that means just about every store including non-food store and office supplies, showing off home and goods-good change, all of which carry candy and other snack products. In the event that you step and appearance at the potential of Big, Little league Foods subsidiary back, you will understand our self-confidence in predicting sustainable development stretching out over many quarters. We intend to roll-up that band of teams tied originally to third party manufacturing facilities, therefore the same potential plan will be replaced across the country.