To: Instock who wrote (188 ) 12/8/1997 8:52:00 PM From: ChrisJP Respond to of 1488
Hi Scott, I would like to offer up a stock which has a chance of matching the theme of your new thread. Country Star Restaurants (CAFE) is a Hard Rock style theme restaurant, except for country music. I won't bore you with details except for the fact that they've had severe financial problems and have resorted to Reg-S dibentures for financing. These dibentures allow the holders to convert to stock at 80% of the 5-day average closing bid price. As a result, the stock has been sinking for 3 months as holders convert their stock. Last Friday was the 5th day the bid was at 1/32 (ask = 1/16). Now that the dibenture holders (who include the company prez) now own stock they got at 80% of 1/32, the next logical move is to get the stock back to it's rightful value. This way they get to sell a bunch at a big profit. Typically this is done by announcing news to generate shareholder interest. Well wouldn't you know it, someone on the Yahoo message board found this link:insidewallstreet.com It all looks so good, plans to open 2 new restaurants, a gaming license for their Las Vegas location, and so on. The confirmation we're waiting for is announcements on Yahoo's news or PR wires. If it works out, there's no reason why CAFE won't trade as high as .25 -- a 400% gain !!!!!!! Of course, there's always the chance that CAFE goes nowhere but down. Put this on your list to watch this week and next. If the ask moves to 3/32 or 1/8, there's a very profitable day trade in it for us all. I'm watching, so I'll post here if it makes a move. If you visit the CAFE thread you'll get the very accurate impression that we have no clue if this is going to happen or not. Some of us have been stalking this for almost 2 months and we're anxious as hell. Regards, Chris