Gearing up for accelerated growth through multiple revenue streams including the wholesale distribution of innovative new product lines

Naples Soap Company, Inc. (OTCQB: NASO), (“the Company”), a pioneering health and wellness brand that offers premium-quality skin and hair care products throughout the United States, today announced the appointment of Richard James Kujak, CPA as its new Chief Financial Officer (CFO) effective July 1, 2024.

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Naples Soap Company, Inc. names Richard James Kujak, CPA as Chief Financial Officer (CFO) effective July 1, 2024 (Photo: Business Wire)

As CFO, Vice President, and Controller at several private equity owned companies in a diverse range of industries, Mr. Kujak managed revenues of up to $270 million annually. Passionate about driving growth and operational excellence, he led and participated in value-driving business initiatives including mergers and acquisitions, company strategy development, and forecasting to grow revenues, as well as reducing expenditures and improving working capital by optimizing supplier purchasing, inventory management, and warehouse operations. These businesses in consumer products, building supplies, office products and automotive, had up to 31 locations in 11 states. Earlier in his career, Mr. Kujak managed financial and accounting activities for pharmaceutical distribution centers exceeding $3 billion in revenues with McKesson, a NYSE-listed pharma company. He is a Certified Public Accountant with comprehensive experience in GAAP, a Six Sigma Greenbelt, and a graduate of the University of Illinois.

Naples Soap Company’s current CFO and Board Member, Jim Milner, will remain with the Company as a Board Member and will transition into the role of Controller.

“We are very pleased to welcome Rick aboard as Naples Soap Company approaches an inflection point in our growth, driven by several new initiatives that we expect will drive revenue momentum,” stated Naples Soap Company Founder & CEO, Deanna Wallin. “Rick’s experience managing the finances of distribution, retail, recycling, and consumer products companies with complex operations will be a great asset as our company evolves.”

“I’d also like to thank Jim for his excellent work as CFO, his tireless dedication to our Company, and for staying on with us as a Board Member and Controller as we continue to benefit from his years of experience and wise counsel.”

About Naples Soap Company, Inc.

Founded in 2009 by Deanna Wallin, Naples Soap Company is a supplier of more than 400 bath, body and personal care products. Products are sold at the Company’s 13 retail locations in Florida. Naples Soap Company products are sold online from the Company’s website at www.naplessoap.com, through other DTC (direct-to-consumer) channels such as Amazon.com and in more than 300 boutiques, spas and stores throughout the United States via the Company’s wholesale division. For more information about Naples Soap Company, visit ir.naplessoap.com.

Forward-Looking Statements

This release includes certain statements that are "forward-looking statements.” All statements in this release, other than statements of historical fact, that address events or developments that are expected to occur, are forward-looking statements. Forward-looking statements are generally, but not always, identified by the words like “anticipate,” “believe,” “expect,” “intend,” “plan,” “will” and variations of the same. Although we believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include our need to obtain additional capital or financing to support our business plans, which may not be available on acceptable terms or at all, market prices, competition, risks inherent in the development and launch of potential products and in new market segments, risks relating to the establishment and maintenance of relationships with athletes, celebrities and influencers, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Naples Soap Company’s management on the date the statements are made. Except as required by applicable securities laws, Naples Soap Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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