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Microcap & Penny Stocks : Eat At Joe's (BB:JOES) -- Ignore unavailable to you. Want to Upgrade?

To: jeff s who wrote (266)	6/17/1999 9:39:00 AM
From: BlueCheap	Respond to of 343

(BSNS WIRE) Eat at Joe's, Ltd. Signs Lock-Up Agreement with Preferred Sh Eat at Joe's, Ltd. Signs Lock-Up Agreement with Preferred Shareholders Business Editors TORONTO--(BUSINESS WIRE)--June 17, 1999---Eat At Joe's, Ltd. (OTC BB:JOES), a diversified food service company that owns the Eat at Joe's chain of 1950s-style diners in the Northeastern U.S. and holds an exclusive license to develop and manage Koo Koo Roo restaurants in Canada, announced today that its preferred shareholders previously used to finance the company have agreed to a lock-up agreement in an attempt by the company to restore shareholder confidence and value. "Working with our investment bankers, we were successful in locking-up all significant funding tranches and have been working with institutional investors to purchase these shares on a piecing-out basis over the next few quarters. In essence, once stability and confidence is restored to our share price, conversions into common stock can be facilitated on a less dilutive basis increasing shareholder value for our long-term shareholders," stated Gary Usling, Chief Financial Officer of Eat at Joe's. "The significance of this is monumental for Eat at Joe's given our aggressive acquisition plan and it again reinforces that our initial preferred shareholders recognize the need to allow the company to mature to the next level of growth. In many cases these shareholders have maintained a portion of their investment within their portfolios for long-term growth and appreciation," Usling also commented. It should also be noted that many of these investors have indicated a desire to provide additional capital for future acquisitions in the coming months. Gino Naldini, President and Chief Operating Officer of Eat at Joe's, said, "I remain confident that the shareholder value will be restored to respectable levels within the coming weeks based on the steps that we have taken." Eat at Joe's serves home-cooked American meals at eight diner-syle restaurants in southern New Jersey, Pennsylvania and Baltimore, Maryland. Two additional restaurants are under construction, others in planning stages, and the company has signed a letter of intent to acquire a 16-unit regional restaurant chain. Except for historical matter contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risks and uncertainties which may affect Eat at Joe's, Ltd.'s business and prospects and cause actual results to differ materially from these forward-looking statements. Visit the Eat at Joe's Website at: eatatjoesltd.com --30--KMK/ph* CONTACT: Porter, LeVay & Rose Inc., New York Charles Southworth, Account Executive, 212/564-4700 for Eat at Joe's Ltd. Amanda E. Johnson, Investor Relations, 914/725-2700 KEYWORD: NEW YORK INTERNATIONAL CANADA INDUSTRY KEYWORD: RESTAURANTS FOODS/BEVERAGES Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com

To: jeff s who wrote (266)	6/18/1999 6:55:00 PM
From: BlueCheap	Read Replies (1) \| Respond to of 343

Had a nice long conversation with Joe at Eat At Joe's (JOES) today. I must say I was impressed . I Love to be @ the bottom and was lucky enough to buy in near what appears is the bottom .45 ask. After my conversation with Joe I am highly considering adding a substantial amount of shares to my position, If the the support remains strong on Monday. I seldom buy on the way up but I will try to share, from memory, my assessment of comments Joe made to me in our lengthy conversation. #1. Joe's Background: He stated he spent 13 years on Wall Street and handled a portion of a Small Cap Portfolio. Since the early 1980's Joe feels he was taught the correct way to make deals and do what was necessary to fund a company and have a REAL business. If something is attempted, yet is not working, he will address and correct this situation BEFORE it creates a more worse situation. (Note: I like that and it appears this was proven by this last announcement.) #2. Joe believes that to build a company, you MUST have great management. (I agree and have seen it happen. When people surround themselves with hard working, determined people, who has the ability to deliver and then DELIVERS, success is born. Joe got a man he believes is absolutely THE best he could have gotten, who's name I cannot remember, (I think Geno Nalvenie or something close to that). This person has ran a 200 unit chain, an 80 unit Burger chain and in Joe's opinion, has exactly what Eat At Joe's needs to make the company successful. The CFO of JOES, has strong relations with many major financial institutions. Joe sited examples of this man's strength as a financial officer for JOES. #3. Joe believed that with these two men along with his experience, contacts and background in the Market creates a very good situation for success. (Note: I like someone who is this confident in themselves. In my opinion, that is almost a MUST and first step to actually make it a reality) #4. Joe believed that the financing that was done about a year ago created a misconception and was misrepresented on the internet. (Note: Since I am personally new to JOES, I am not up to snuff on this BUT I know full well, how investors lock on to all the negatives posted, when in reality they may either not know or just want cheap stock. It does happen folks.) At any rate, Joe told me that this LOCK-UP makes this no longer valid, as these preferred share holders. NO PAPER will come out into the Market. SO ! ( and this is what I liked MOST, so will you the reader/investor, if you can see this. As DEMAND for stock increases and there is NO supply, what do you think will happen? Perhaps a higher, MUCH, MUCH higher stock price???? I think perhaps that would be a good assumption! AND is precisely why I invest in JOES or any other company, to MAKE a PROFIT! Now if "Eat At Joe's" (JOES) can do $100,000 per week in revenue just in JOES, as Joe told me, then ADD to that the Koo Roo revenue of a similar amount. See where he's going with this? Then he spoke of already targeting in Jan. & more will be targeted and announced this year. OK, I have more from this conversation but I must go for now. However, bottom line, it appears JOES has eased up off the bottom price per share, has SUPER potential for very nice percentage gains from current prices. THIS is why I intend to take on a larger position at prices under .60 cents. See you folks in the MARKET on MONDAY :) Regards, Malcolm Lindsey