A Journey of a Thousand Miles . . .
A startup called Louisiana Food Company set in motion its plan to go public today, filing an S-1 registration statement with the SEC. Its business is pinned on the hope that folks who enjoy jambalaya, dirty rice, jamasta, etouffee, gumbo, and the like will appreciate the convenience of being able to purchase these items as packaged dry goods.
It’s a good thing, though, that packaged dry goods have a long shelf life. Here’s one of the filing’s risk factor statements:
“Only one customer delivered a purchase order for our specialty food products during the period from August 17, 2010 (inception), through September 30, 2010. Our failure to increase our customer base would have a material adverse effect on our results of operations and financial condition.”
Yes, folks, that’s what you call an understatement.