MKII penny SHORT SQUEEZE... now at .09 and RUNNIN...
Heres MKII's corporate profile:
HILITES: AT & T DEAL in Atlanta and $6.2 million Ponderosa
Steak House deal closing!!!
Mark 1 Industries, Inc. Announces Release
of Corporate Profile
PR Newswire - October 12, 1998 12:26
ATLANTA, Oct. 12 /PRNewswire/ -- Mark 1 Industries, Inc. (OTC
Bulletin Board: MKII), today announced that it has released a corporate profile, which is attached to this Press Release.
For further information, please contact Paul R. Smith at 770-509-1040.
MARK 1 INDUSTRIES, INC. CORPORATE PROFILE STOCK
SYMBOL: MKII
Mark 1 Industries, Inc. acquires and manages established and proven
franchise food service systems. The Company seeks multiple unit chains of different franchise concepts, each franchise concept being in different sectors of the food service industry. The utilization of proven franchise systems minimizes risks and optimizes
returns for the Company's stockholders.
In a report done by 'McKinsey & Company, Inc.' for the International
Food Distributors Association titled 'Foodservices 2005: Satisfying
America's Changing Appetite', McKinsey states that more Americans
eating out, taking out, and assembling meals from pre-prepared foods.
McKinsey predicts over the next 10 years, this trend will provide a $100 billion growth opportunity for food industry players. If Mark 1 Industries, Inc. were to capture 0.1% of this growth potential, sales would increase by $100 million.
Current Operations
Mark 1 owns the franchise system rights from Heritage Concepts
International, Inc., a publicly traded company (Toronto: HCI.TO), for
Eastern Ontario and the Province of Quebec, in Canada, and the Metro
Area of Atlanta, Georgia. Operations are in Atlanta, Georgia and Ottawa, Canada. This franchise system has a 25 year history with multiple and diversified franchise concepts.
Mark 1 currently operates (3) Kenny Rogers Roasters Restaurants; (2)
Grandma Lee's Bakery and Restaurant; (2) Amigo's Sports Cantina (1
under development); (1) HillBilly Shacks Saloons; and (1) Houston's Texas BBQ & Grill.
Fortune 500 Opportunity
One of the most exciting acquisitions has been our Grandma Lee's Bakery & Restaurant location at the AT&T office campus in Alpharetta, Georgia, a suburb of Atlanta. The restaurant, which opened in December 1995, provides foodservice facilities for an employee restaurant and catering functions for AT&T meetings and events. To keep pricing low for their employees, AT&T has provided all the equipment at no cost to
Mark 1 and does not charge rent or utilities. This is a captive market for the Company.
AT&T is the 15th largest corporation in the United States.
Mark 1 and Heritage Concepts International, Inc. are currently in
discussions to form an alliance for the purpose of implementing a "roll-up" of similar Fortune 500 office restaurants. Both Companies believe that an effective "roll-up" will achieve annual volumes in excess of $100 million.
Current Situation
There are 24,000,000 common shares issued and outstanding. Stock has
traded between $0.31 and $0.98 per share in the past four months with
mid to heavy volume. 1997 annual sales were in excess of $7 million with pre-tax profits of $350,000, assuming Mark 1 had acquired Investco Corporation at that time.
The Future
On August 28, 1998, the Mark 1 entered into a conditional contract to
acquire five (5) Ponderosa Steak Houses located between Venice and
Naples, in Southwest Florida. The acquisition includes real estate,
buildings, equipment, and operations. An MAI appraisal, completed by C. Michael Polk & Associates, Inc. in the fourth quarter of 1997, concluded the value of total property was $6,215,000. The purchase price is $4,350,000. This provides the Company with a built-in equity of $1,865,000. Subject to acceptable due diligence and financing on the part of the Company, this acquisition will increase the Company's
revenues by $4.4 million. Closing is anticipated in November 1998.
Mark 1's goals are to reach $100 million in revenues within the next 5 years with a reflective share price on a listed exchange. Assuming Mark 1 achieves its revenue goals, the company's stock should trade in the $4 range assuming operating margins of 5% of revenues and the stock trades at current industry average multiples of 20 times earnings.
Corporate Office
Mark 1 Industries, Inc.
P.O. Box 71837
Marietta, GA 30007-1837
Phone: (770) 509-1040
Fax: (770) 509-1480
SOURCE Mark 1 Industries, Inc.
/CONTACT: Paul R. Smith, Mark 1 Industries, Inc., 770-509-1040/
(MKII HCI.TO) |
