KAFE (Country Star Restaurants) Message Board

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Microcap & Penny Stocks : KAFE (Country Star Restaurants)

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To: george johnson who wrote (625)	2/3/1998 11:07:00 AM
From: James A. Nelson	Read Replies (2) of 876

I thought that this might be of interest: Coventry Indus In Letter To Buy Country Star Restaurants BOCA RATON, Fla. (Dow Jones)--Coventry Industries Corp. (COVN) signed a letter of intent to purchase a controlling interest in Country Star Restaurants Inc. (CAFE). In a press release Tuesday, Coventry Industries said the letter outlines proposed transactions, including its purchase of the rights in a $500,000 note in exchange for $500,000 in Coventry Industries restricted common shares. The note is currently held by Dan J. Rubin, chairman and chief executive of Country Star. Further terms were not disclosed. Country Star Restaurants had revenues of $5.3 million for the nine months ended Sept. 30, 1997. A company spokesman said Coventry Industries had revenues of $2.4 million for the first quarter ended Sept. 30. Country Star Restaurants develops, builds, owns and operates country- and country music-themed restaurants. Coventry Industries is a holding company with operations in manufacturing and industrial fabrication, employee staffing and consumer products.

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