Some News..
Tasty Fries Inc. Appoints Christopher A. Plunkett Executive Vice President
PR News Wire via Dow Jones
Company Has Begun Tooling Process And Intends To Launch Revolutionary
French Fry Vending Machine In 1997
BLUE BELL, Penn., June 24 /PRNewswire/ -- Tasty Fries Inc. (OTC: FRYA), a
development stage company that is about to evolve into its commercial phase,
announced today the appointment of Christopher A. Plunkett to serve as the
company's executive vice president.
"We are extremely pleased to have Chris on the team as we begin to seize the
potentially enormous opportunity for our Tasty Fries machine," said Edward C.
Kelly, president and chief executive officer of Tasty Fries Inc. "Chris'
background will provide us he added business and financial leadership as we make
certain that our upcoming product launch is successful."
Since 1996, Mr. Plunkett was vice president, corporate finance & merchant
banking at Americorp Securities, where he provided financial advisory and
management consulting services to several companies. From 1993 to 1995, he held
a number of positions at Toys R Us including director of operations for the
Babies R Us Division, where he was responsible for creating the operating
systems and infrastructure for a new division. Previously, Mr. Plunkett was a
financial analyst in the corporate finance department at Smith Barney, Inc.,
from 1989 to 1991.
Mr. Plunkett received his undergraduate degree in economics from Yale
University and his graduate degree from the J.L. Kellogg Graduate School of
Management at Northwestern University.
Tasty Fries Inc. announced earlier this month that it closed the first $1
million of a $4 million private financing commitment. A portion of the
financing will be used towards the tooling process.
"Our tooling program which started in 1996 will be completed before years'
end," said Kelly. "Upon its completion, we will be preparing for the product
launch -- which we intend to release by the end of 1997."
The Tasty Fries(TM) vending machine is a revolutionary advance -- the first
multi-patented vending machine to prepare, cook and dispense French fries with
the flavor, aroma and texture of freshly cut French fries. And, total vend time
is a little more than one minute. Tasty Fries are made from a top-quality Idaho
russet potato and cooked in cholesterol-free oil using a patented
state-of-the-art robotic technology. The company intends to sell or lease its
Tasty Fries machines and products on a non-exclusive basis to established,
well-financed vending companies. The machines are expected to be located in
high-traffic locations such as airports, bus and train stations, universities,
schools, military bases, theaters, work areas and recreational venues.
Except for any historical information contained herein, the matters discussed
in this press release contain "forward looking statements" that involve risks
and uncertainties which are described in the Company's SEC reports.
/CONTACT: Jeff Goodman of Ronald Trahan Associates, Inc., 617-332-0101/
09:41 EDT
2090 06/24/97 09:41 EDT HT
:TICKER: FRYA
:SUBJECT: INDD PA
Copyright (c) 1997 PR Newswire
Received by NewsEDGE/LAN: 6/24/97 8:57 AM |
