Had a nice long conversation with Joe at Eat At Joe's (JOES) today. I must say I was impressed . I Love to be @ the bottom and was lucky enough to buy in near what appears is the bottom .45 ask.
After my conversation with Joe I am highly considering adding a substantial amount of shares to my position, If the the support remains strong on Monday.
I seldom buy on the way up but I will try to share, from memory, my assessment of comments Joe made to me in our lengthy conversation.
#1. Joe's Background: He stated he spent 13 years on Wall Street and handled a portion of a Small Cap Portfolio. Since the early 1980's Joe feels he was taught the correct way to make deals and do what was necessary to fund a company and have a REAL business. If something is attempted, yet is not working, he will address and correct this
situation BEFORE it creates a more worse situation. (Note: I like that and it appears this was proven by this last announcement.)
#2. Joe believes that to build a company, you MUST have great management. (I agree and have seen it happen. When people surround themselves with hard working, determined people, who has the ability to deliver and then DELIVERS, success is born.
Joe got a man he believes is absolutely THE best he could have gotten, who's name I cannot remember, (I think Geno Nalvenie or something close to that). This person has ran a 200 unit chain, an 80 unit Burger chain and in Joe's opinion, has exactly what Eat At Joe's needs to make the company successful.
The CFO of JOES, has strong relations with many major financial institutions. Joe sited examples of this man's strength as a financial officer for JOES.
#3. Joe believed that with these two men along with his experience, contacts and background in the Market creates a very good situation for success. (Note: I like someone who is this confident in themselves. In my opinion, that is almost a MUST and first step to actually make it a reality)
#4. Joe believed that the financing that was done about a year ago created a misconception and was misrepresented on the internet. (Note: Since I am personally new to JOES, I am not up to snuff on this BUT I know full well, how investors lock on to all the negatives posted, when in reality they may either not know or just want cheap stock.
It does happen folks.)
At any rate, Joe told me that this LOCK-UP makes this no longer valid, as these preferred share holders. NO PAPER will come out into the Market. SO ! ( and this is what I liked MOST, so will you the reader/investor, if you can see this. As DEMAND for stock increases and there is NO supply, what do you think will happen? Perhaps a higher, MUCH, MUCH higher stock price???? I think perhaps that would be a good assumption! AND is precisely why I invest in JOES or any other company, to MAKE a PROFIT!
Now if "Eat At Joe's" (JOES) can do $100,000 per week in revenue just in JOES, as Joe told me, then ADD to that the Koo Roo revenue of a similar amount. See where he's going with this?
Then he spoke of already targeting in Jan. & more will be targeted and announced this year.
OK, I have more from this conversation but I must go for now. However, bottom line, it appears JOES has eased up off the bottom price per share, has SUPER potential for very nice percentage gains from current prices. THIS is why I intend to take on a larger position at prices under .60 cents.
See you folks in the MARKET on MONDAY :)
Regards,
Malcolm Lindsey |
