KAFE (Country Star Restaurants) Message Board

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Microcap & Penny Stocks : KAFE (Country Star Restaurants)

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To: Richard Rose who wrote (198)	10/15/1997 8:35:00 PM
From: Edwin Juergens	of 876

Cafe Conference Call I was able to listen in on a call today regarding CAFE. Speaking was James Holton of Continental Capital <a full service investor relations firm>. No questions were allowed although he did invite personal calls. Some of my questions were addresed. I did take some notes although I was at work and had minor distractions. I would like to share some of the highlights I learned today. Atlanta is expected to open full time by the end of this month. The breakeven point for Atlanta is 3 million and revenues of 6 million are anticipated. A fourth restaurant is expected in about 45 days. Smaller restaurants are planned for 1998 (current three seat over 500 each) Some locations mentioned were Tokyo, London, Tennesee, Louisiana. Earnings report due out in about 3 weeks. All that was said they are ahead of schedule and next quarter ought to be the first quarter of profitability in co's history. The process of getting a gameing liscense in Nevada takes close to 9 months. Now for all that vol. Mr Holton mentioned three maybe four sources (one of my interuptions) Cameron capital, the origianal underwriter and first <SOMETHING>. In the case of the original underwriter they held restricted stock and the time limet was up. As for Cameron I belive the had a big chunk of the prefered which the CO. forced conversion at the rate of 6 common per 1 preferred...... In any event when the current CEO Dan Rubin took over the company he did so by investing his family's money 2 !/2 million at prices between $2.50 and 2.75 He still owns this! Also this was a hostile takeover. Furthermore on the vol Mr Holton and his co. Continental Capital have not been actively promoteing this stock . He did not want to expend his resources to hold up the price and see the price move sideways. Tomorrow he will actively blow this horn since he sees the added shares virtualy dried up. He estimates there are about 33.6 million shares outstanding now and will have a more accurate total come monday. That's about it oh yeah one more item the posibility of delisting. Cafe has untill Feb 25 '98 to get it's share price above one dollar. In the event that normal tradeing doesn't fix it a reverse split will happen . This has been approved at last annual meeting. Happy Trails Edwin

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