KAFE (Country Star Restaurants) Message Board

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Microcap & Penny Stocks : KAFE (Country Star Restaurants)

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To: wfrazee who wrote (55)	4/20/1997 8:18:00 PM
From: wfrazee	of 876

The 10K is available on edgar. Hopefully new management didn't come in too late. The've implemented several actions to get costs under control. They plan to reopen Country Star Alanta mid May. Cash flow is insufficient to continue operations unless a settlement with some creditors can be reached. The company offered the creditor's .40 on the $1 with 50% payment in april and balance in may. I'll try to contact the company on Monday to see if the creditors took them up on their offer. The 10K has lots of good reading on mgt's plan to cut costs and revitalize the company. Looks like things will be shaky for the next couple of quarters but new management might pull things thru if they can deal with the financing issue.

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