RSH-
Below is a copy of a message we posted earlier today on RagingBull. I think it addresses your concern. If not, please e-mail me at comercio@doscomercio.com, and I will do my best to make further clarification.
From La Guardia GFS:
Looney, to answer both of your questions,
1) Remember that MDMI owns the franchise rights to the Java Centralé Cafés, they do not actually own the stores. All of these franchises were set up prior to the existing MDMI mgmt taking over operation, and unfortunately the screening process for franchisees was not done well. This is the primary reason we have seen such a decrease in Java Centralé Cafés over the past 5 years. The situation in Nevada is reflective of this. It is not MDMI who is selling or closing the cafés. It is the individual franchise owners.
2) When Dana Verrill brought MDMI through the bankruptcy there were many clients (approximately 300), some of which ordered very low volume, and/or represented little profit for MDMI. Mr. Verrill has worked diligently to cull the lowest producing clients to decrease his overhead and management nightmares. The 170+ clients that MDMI currently has, are the largest and strongest of those 300, plus several new, stronger clients like Albertson's and several other VERY LARGE retailers, who we anticipate the company will announce in the very near future.
Thanks for your input and questions.
Please check us out on the net at twotrades.com for more information, and don't forget to support your investment with purchases through buymdmi.com.
We advise everyone to do their own due diligence, but La Guardia GFS is here to help, please e-mail us at comercio@doscomercios.com with any questions, suggestions or comments.
Sincerely,
Phil Hernandez
Public Relations
La Guardia GFS |
