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Microcap & Penny Stocks : KAFE (Country Star Restaurants)
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To: george johnson who wrote (59)5/6/1997 11:33:00 PM
From: wfrazee   of 876
 
I've been trying to get someone on the phone in the company ever since the 10K came out. No one is ever in and no one seems to return calls. I wanted to ask them if the creditors took the settlement offer on the debt (i.e., .60 on the dollar). The company said a settlement on the debt was essential to survival. I would bet, the recent low prices indicates the creditor's rejected the offer.

BTW - did you notice the brief bio data on the 10KSB on the company's new directors? Ruben is 25 yrs old and the others aren't too far ahead of him. Actually, I don't care how old they are, just can they turn this company around.

I suppose the offer to the creditors was a shot in the dark and now they will have to do some additional financing. Most likely, issue more shares.
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