Well heres a different kind of gold? Sorry for the bad cut and paste job..
any comments:
BLUE BELL, Penn.-- July 23, 1998 - Tasty Fries, Inc. (OTC:TFRY), a development stage company which has commenced the commercial production of its proprietary French fry vending machine announced today it is nearing completion of its first production units. Edward C. Kelly, President and CEO of Tasty
Fries, Inc. stated "Ninety five percent of our tooled components
have been accepted into the production units".
The launch will commence with the placement of the Company's
initial production machines in August at Universities located in the
New England area prior to the commencement of the academic school year. The remaining machines will be located in various high traffic locations in the Philadelphia area.
According to Kelly, "the Tasty Fries machine will be the first
production French fry vending machine that works, period, without the inherent design and technical problems which plague all of the companies who are trying to compete with us."
"For this reason", Kelly said, "we recently rejected the final two molded parts received from our suppliers because they did not meet
our design specifications. This delay will not effect the placement of
our machines in either location.
The Tasty Friestm vending machine is a revolutionary advance -- one of the first multi-patented vending machines to prepare, cook
and dispense French fries with the flavor, aroma and texture of
freshly cut French fries. Total vend time is a little less than one and
a half minutes. Tasty Fries are made from top-quality Idaho russet potato and cooked in cholesterol-free oil using a patented
state-of-the-art robotic technology. The machines are expected to
be located in high-traffic locations such as universities, airports,
bus and train stations, schools, military bases, theaters, work areas
and recreational venues.
BLUE BELL, Penn.-- August 27, 1998 - Tasty Fries, Inc.
(OTC:TFRY), a development stage company which has commenced
the commercial production of its proprietary French fry vending
machine announced today it has successfully completed 100% of
their tooling program. Edward C. Kelly, President and CEO of Tasty
Fries, Inc. stated "the conclusion of this program marks a milestone
for Tasty Fries. At a cost of $1,500,000 and two years of intense
work it brings our corporate goal clearly in sight." According to
Kelly, "we intend to launch a production run of 1,000 of our French
fry machines immediately following the placement of the initial 25
production units."
Further, management has entered into preliminary negotiations with
the merchandising agent for a large, high traffic retail chain of
discount department stores to begin distribution of Tasty Fries
vending machines in at least 500 stores as production units become
available. According to the proposal full distribution to over 10,000
stores will follow. The company anticipates a letter of intent within
the next 30 days.
Blue Bell, Penna.... September 8, 1998....Tasty
Fries,Inc.(OTC:TFRY),a development stage company which has
commenced the commercial production of French Fry vending
machine announced today it has signed a letter of intent with one of
the largest retail marketing agents in the nation that services over
11,000 retail outlets including Walmart, K-Mart,etc, as well as over
3,000 grocery stores to begin distribution of their patented Tasty
Fries vending machine. The agreement calls for distribution of the
first 500 machines over the next 180 days into stores throughout the
nation with proven high traffic counts. Upon completion of the initial
distribution agreement calls for an additional placement of 5000
Tasty Fries vending machines over the next two years in all the
large retail chains nationwide. Delivery of the first 25 machines will
be made within the next 60 days to various discount department
stores.
BLUE BELL, PA --Sept. 14 1998 Today management announced
that they have obtained an agreement from a Florida funding
company to provide Tasty Fries (OTC: TFRY) with up to $120MM of
receivable financing which allow the company to accomplish two
major goals 1)Expand domestically in North America without
disruption of cash flow, and 2)Pursue lucrative International
markets with minimum risk of collection problems.
Foreign markets provide a myriad of opportunities for the company
including potential direct revenues of $60per annum as well as
licensing agreements,that without factoring would really impede the
company's and cash flow.
The deal is struck with the Globus Group of Miami, an eight year old
finance company that will allow Tasty Fries to collect 90% of their
invoice value(70% immediately and 20%in 30 days.)
CEO Ed Kelly was pleased with the deal which will now allow him to
start recruiting foreign sales reps and distributors for Tasty Fries in
Europe, South America and Asia were french fry consumption
exceeds 120,000 tons per year. The company will now have to
revise it's forecasts to adjust for the increase in potential sales
allowed buy the factoring deal |
