KAFE (Country Star Restaurants) Message Board

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Microcap & Penny Stocks : KAFE (Country Star Restaurants)

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To: ChrisJP who wrote (404)	11/24/1997 12:52:00 AM
From: Zeev Hed	Read Replies (1) of 876

You have to look at the S-3 from last September I believe, there they listed all the bottomless convertible holders, Rubin had $2 MM and a realtive (his father ?) had $7 MM . Look back at my original analysis, I think I mentioned the correct numbers there. In the current QSB you will not see that, but there is a more recent (mid Novemebr?) S-3 where the numbers you are mentioning are cited, I think these are additive. Now, in the latest report they are mentioning that outstanding convertible are at $ 5 MM or so, thus I presume the former have already been converted (last year there were 12 MM shares and as of Mid November about 69 MM shares. I doubth they can go higher than 100 MM shares (but check what is the number of authorized shares to sure). If that number is correct, the conversion agony might be close to an end, However, can they make a busines of two restaurants that will be worth let say $10 MM? (or at the full dilution of 100MM shares. abot $.1/share?). Zeev Zeev

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