Posted by The Boob on December 04, 1997 at 13:38:57:
My brother in law contacted Mr. Masters today and reported the following information to me:
1)25 chain pretzel acquisition to close very shortly......Dan said this will likely happen just after new year's because it's next to impossible to get anything productive done before xmas. This is the acquisition which was scheduled to close Oct. 1 and I'm sure a lot of people have forgotten about it. REASON: there are a total of 18 owners (husband and wife are head owners followed by 16 other "investors"). MISM had to get the paperwork returned from all 18 before the deal could be closed. All paperwork is in now (2 weeks ago) and it is scheduled to close 6 weeks after paperwork arrives (that leaves four more weeks.) This will be profitable in the high six figures once all the present owner's personal expenses are deducted (car, life insurance, etc.)
2)Major automotive acquisition is now scheduled to close on March 1, 1998. It is finalized, but they moved the closing date back to give them a chance to refurbish existing stores. (install air conditioning, POS terminals.) MISM has formed a good relationship with this company which they will use to their advantage in the future. They have begun planning a huge marketing campaign to distribute millions of flyers advertising and promoting their new franchises which should attract thousands of new customers. Again, a profitable company which MISM plans to turn even more profitable once they take over.
3)Dan doesn't expect the person selling those 100 share lots to continue doing so. He thinks they'll soon get fed up and quit or won't be a factor once further acquisitions become announced. Not to worry about that, Dan doesn't think it will come into play in the long haul.
4)Everything else at MISM is continuing along just great. Oh yeah, I was told by b-i-l that Dan is definitely looking forward to one day being listed on the nasdaq. He seems to think this is not only a dream, but also a reality, and seriously believes it will happen. He spoke in an extremely confident manner.
Just updating fellow mism shareholders.
Oh BTW, when b-i-l was talking, call on the other line came from a franchisee and Dan said it was important. Don't know if that's positive or not, just passing it along.
boob |
