Woodroast Systems, Inc. Announces Third Quarter 1997 Results
biz.yahoo.com
A few bits out of the article are below:
Net sales for the quarter were $1,462,667, compared with $1,343,692 for the same period last year. The Company reported a net loss of $717,857, or $0.17 per share for the third quarter of 1997, compared with a net loss of $412,456, or $0.13 per share for the same period last year.
The Company stated it is currently in serious negotiations to sell its restaurant in Rockville, Md.
If the Company is unsuccessful in the sale of this restaurant, it will be necessary to raise capital in the debt or equity markets. There can be no assurance the Company will be successful in these endeavors.
The Company stated it intends to focus all of its resources on the growth and development of Shelly's Back Room(R), The American Tavern. ''The sale of this restaurant will allow us to focus on the development and expansion of this new and exciting concept,'' said Ralph J. Guarino, president and chief operating officer of Woodroast Systems, Inc. ''Sheldon Jacobs, chairman of the company and creator of the concept, is a great visionary, and it is obvious this concept that he developed has tremendous growth potential.''
''Back Room sales at our Rockville, Md. location have been strong since its opening in November of 1995,'' stated Sheldon F. Jacobs, chairman and chief executive officer. ''Also, since opening our first stand-alone Back Room prototype in June of 1997 in Washington, D.C., public acceptance has been exceptional, and unit sales and profitability have met or exceeded our expectations.''
Ken |
