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Non-Tech : Woodroast Sys - WRSI - Cigars

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To: Terry Audette who wrote (17)10/20/1996 12:57:00 PM
From: Dennis Vail   of 79
 
Terry,

The quarter ended 9/30/96 and the last 10QSB was filed 7/26/96 so earnings should be released this week with the 10QSB shortly thereafter.There should be increased General Administration charges as the addition of Gaurino and the expansion infrastructure is being put in place (according to Shelly).We should be in the red until '97 I believe.

WRSI (Woodroast Systems) filed a 424b on 10/17 that basically restates the amended S-3 of 9/30.You can access it (and download or print it)from the electronic fool > Edgar database if you have the aol browser,along with their past filings.There is a good perspectus attached that outlines history,risks,openings,recent deals,etc.

Also I think we need to analyze the change in holdings at stocksmart once they update to as of 9/30/96.And regarding earnings,remember the rapid growth will come from the Shelly Backroom cigar parlors the first of which as a stand alone should be completed in D.C. by the end of the year.It will be interesting however to see how the full restaurants are doing as well as the Backroom in the Rockville restaurant.So I think the 10QSB will be more interesting than the earnings announcement.Also check the Fool newswire as the full WRSI press release will probably be carried by PRwire.

Regards,
Dennis
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