Kisses From Italy Inc
kissesfromitaly.comKisses From Italy Inc (OTC: KITL) is a fast-casual restaurant company that operates an Italian-themed dining concept and pursues growth through corporate-owned locations and franchise sales. Revenue comes from direct restaurant sales at its single operating location in Fort Lauderdale, Florida, with a stated plan to expand via a nationwide and international franchise program. The company commenced operations in May 2015. As of the 10-K filed July 15, 2024, the Fort Lauderdale location is the only operating restaurant, following the permanent closure of its Bari, Italy location on December 31, 2023, and the earlier closure of its Wyndham Palm-Aire location in September 2023. Total revenues were $225,953 for the year ended December 31, 2023, down from $391,447 for the year ended December 31, 2022. Operating expenses for FY2023 were $3,669,458, including $2,793,843 in non-cash stock-based compensation. The company competes in the highly competitive fast-food and fast-casual restaurant segments.
Products & Services
Italian-themed fast-casual food and beverages served at company-owned restaurant locations. The company holds registered trademarks for its logo in both Italy (No. 0001 528191, expires September 2029) and the United States (Serial No. 87138230, expires August 2026).
Revenue Model
Transactional restaurant sales from company-owned locations. The company also intends to generate franchise and territory sale fees as it expands, but no franchise revenue is evidenced in the FY2023 or FY2022 filing excerpts.
Customers & Markets
General consumers in the fast-casual and fast-food restaurant segment. Demand is driven by consumer discretionary spending, local demographics, and traffic patterns.
Geographic Exposure
Operations concentrated in Fort Lauderdale, Florida as of the 10-K filed July 15, 2024. A European location in Ceglie del Campo, Bari, Italy permanently closed December 31, 2023.
Financial Snapshot
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