Cono Italiano Inc. (CNOZ) jumps on new product launch

Posted on: Monday, May 16th, 2011
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Cono Italiano Inc. (OTCBB: CNOZ) rocketed ahead 115.6% in price Monday morning to 5.39 cents, on word it will soon offer its Pizza Cono as a microwavable product, in addition to its existing variations.. Volume for the stock was 9.3 million shares, compared to an all-day average of 335,000.

Cono, headquartered in Red Bank, New Jersey, is the exclusive license holder of the North American Distribution and Manufacturing rights for “Pizza Cono”, a cone-shaped “on-the-go” pizza food product.

Cono Italiano, Inc. and their licensor Spuntibreak.s.r.l., Pizza Hands, inventor of Pizza Cono in Milan Italy, will be offering an individual cone available in six flavors that can be easily prepared in a new microwaveable box. Cono Italiano. Inc. and RJM Foods, a food distributor for Cono Italiano, Inc., will be importing the product to sell in the U.S. to convenience stores and supermarkets.

According to Cono CEO Mitchell Brown, “The ability to offer an individual cone in a microwave box will afford Cono Italiano, Inc. the opportunity to introduce the product to movie theatres, stadiums and arenas, and other venues with high traffic where food is sold in high volume.

“We have been in contact and had discussions with some of the largest food franchises in the U.S. who are interested in incorporating Pizza Cono on their everyday menu. It is anticipated that this product will be instrumental in the growth of the company and generate significant revenue in 2011.”

Cono Italiano, Inc., featured on Unwrapped on the Food Network, owns the North American distribution and manufacturing rights for Pizza Cono. This one-the-go food product is designed to be a drip-free, spill-free cone-shaped pizza made of proprietary dough and filled with freshly selected ingredients.

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