Question to SSP and Jim, does the forward looking event, regarding NUZA coming out of Bankruptcy proceedings, mentioned in bold in my message below, perhaps make NUZA eligible for the Golden Lists again?
To Micky - NUZA, very true indeed! Here is the part I like best:
Also of interest, here is the link to the UNofficial NUZA Pizza Website below:
yourway.to
in case you'd like to do further research on the company.
numagicpizza.com
August 24, 2000
Yesterday, the company met with its bankruptcy attorneys to review its preliminary plan to come out of bankruptcy. The company has an investor who is prepared to infuse up to $300,000 into the company to bring the company out of bankruptcy. The infusion would be a combination of debt and equity. The company's plan calls for all existing shareholders to remain in place.
The percentage of debt that will be paid off has yet to be determined. In all probability, some creditors will be given the opportunity to convert what is owed to them into stock on the same percentage basis.
To the extent that the investor takes equity and to the extent that creditors convert debt into equity, some dilution will occur. The company's bankruptcy plan will not include any reverse stock split.
Once this plan is submitted to the court, there are a series of reviews that are conducted by both the court and the creditors. Each review period is for approximately 30 days and each revision also has a 30 day review period. We estimate that it will take 3-6 months from the time the plan is submitted to get final approval.
Preliminary talks indicate that once we emerge from bankruptcy, additional capital will be available for the company to grow and develop its existing business and explore new areas of opportunity.
We have also finally received approval from the bankruptcy court to engage the services of a CPA firm to do our year-end audit and file our appropriate tax returns and S.E.C. filings. The company intends to make all of its filings on a timely basis.
August 09, 2000
If you have specific questions or would like additional information that is not covered here, please go to the e-mail section of this web site and send a message to "generalinfo". You will receive a reply as quickly as possible.
1. Positive cash flow for the past 6 months.
2. Profit on the bottom line for every period since the bankruptcy filing.
3. Numero Uno's dual concept locations in Northridge and Sherman Oaks are open and sales are better than expected.
4. We will be converting a fresh, healthy Mexican grill location in Arcadia to our new dual concept in mid September.
5. The first NU Magic Pizza is opening by the end of August in Portland, Oregon. This area is under a development agreement, expected to develop 5-10 stores over the next 3-5 years.
6. NUZA corporate staff is starting to put together the Chapter 11 plan to submit to the court to come out of bankruptcy.
------------
FYI ... NUZA is currently trading between 1 1/2 cents and 2 cents a share.
I suggest all verify all of this by contacting the company themselves to verify this.
CORPORATE OFFICES
NU Pizza Holding Company
3550 Wilshire Blvd.
Suite 1725
Los Angeles, CA 90010
Tel: 213-252-9991
(IR is ext# 25)
-----------------------
I've bolded the parts I liked the best. SI doesn't let me underline though (boooooooo).
;-D
JMHO, FWIW ...
Voyager |
