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Microcap & Penny Stocks : KAFE (Country Star Restaurants) -- Ignore unavailable to you. Want to Upgrade?

To: ChrisJP who wrote (404)	11/23/1997 10:09:00 PM
From: wfrazee	Respond to of 876

It doesn't look like Rubin will have any interest making rosy announcements until he finished converting his shares. At 1/16, what a bargan price. Even if the company is going down the toilet he will probably be able to unload his shares at a profit (above today's prices). I'd like to hear what the company's 12-24 month plans are?

To: ChrisJP who wrote (404)	11/24/1997 12:52:00 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 876

You have to look at the S-3 from last September I believe, there they listed all the bottomless convertible holders, Rubin had $2 MM and a realtive (his father ?) had $7 MM . Look back at my original analysis, I think I mentioned the correct numbers there. In the current QSB you will not see that, but there is a more recent (mid Novemebr?) S-3 where the numbers you are mentioning are cited, I think these are additive. Now, in the latest report they are mentioning that outstanding convertible are at $ 5 MM or so, thus I presume the former have already been converted (last year there were 12 MM shares and as of Mid November about 69 MM shares. I doubth they can go higher than 100 MM shares (but check what is the number of authorized shares to sure). If that number is correct, the conversion agony might be close to an end, However, can they make a busines of two restaurants that will be worth let say $10 MM? (or at the full dilution of 100MM shares. abot $.1/share?). Zeev Zeev