Well folks, one week and counting until the meeting. Hopefully, after that time, they'll let us know how they feel about the business plan, i.e. (from proxy):
In 1999, the Company expects to open four to seven new Company-owned and one to three franchised Tanner's restaurants. The Company's capital requirements to meet this development plan are $1,600,000 to $2,800,000, which the Company expects to fund out of the proceeds of the $4,000,000 financing commitment. The balance of the
proceeds of the financing commitment will be used for working capital.
If the current development schedule is not delayed, management anticipates
that by the first period of the fourth quarter of 1999, TRC will have a base of
profitable restaurants that will allow TRC to begin to leverage its nonoperating
expenses.
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I think they should apply for a new ticker symbol as well. On Edgar Online and www.bigcharts.com, ROTI is still referenced under the name "Cluckcorp International". How ridiculous! In fact, on FreeEdgar, Harvest Restaurant Group is no longer associated with a ticker symbol at all! There's a lot of loose ends like this that need to be tied up if this company wants to project an accurate picture of its business to the investing public. |
