| |
Gentlepersons,
Finally got a hold of Izzy Roth at Dominican. The poor man has been sick for the last week or so with the flu. In fact, I caught him heading back out the door as he sounded major-league congested and was only there to grab some work and head home.
Despite that, he provided me with a few minutes of his time. He said that the gourmet food business was proceeding nicely, that Capi's is being renovated from 2400 to 3600 square feet to accomodate growth. He also mentioned that the Letter of Intent to acquire Sabatino's deli's was signed and that the acquisition should be completed in a timely fashion.
He metioned that the Cigar division was doing very well, that the Walgreen's "Phase 1" trial in Vegas was complete and that the "Phase II" of the test is beginning in Florida. Izzy mentioned that the process of distribution/education/humidor displays was such that they can only install 1-3 stores per week with their cigars.
The CVS Agreement is in CVS's court right now. Dominican has put forth a strong final proposal which they believe is a done deal with CVS. As Izzy mentioned, since they are dealing with CVS management, the deal could be consumated today or next month depending on the level of bureaucracy it must wade through.
Izzy represented that the accountants and auditors are finishing their work within the next week or two, and that it is their intention to file the Form 10 with the SEC upon completion.
As a true company spokesman, Izzy believes that DCGR is in a bargain basement position now , with low risk and high reward. They are debt free, and are generating decent revenues.
When I asked for more specifics, he replied that he would be glad to share the numbers he can share, but that he didn't have them handy and he was hurried to get out the door. Frankly, judging by the way he sounded, I was surprised we talked for as long as we had.
Mark |
|
