peacelover,
from a PR (Oct. 12), MKII issued and outstanding shares are 24.000.000.
As a matter of fact, just to keep an open eye, here is the PR.
As I said before, it's a scam or we are in same situation as BNEZ.
======================================================================
(COMTEX) B: MARK 1 INDUSTRIES, INC. ANNOUNCES RELEASE OF CORPORATE PR
B: MARK 1 INDUSTRIES, INC. ANNOUNCES RELEASE OF CORPORATE PROFILE
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
This report has been prepared for information purposes only and
shall not be construed as a solicitation for investment purposes. You
are advised to obtain investment information from a securities broker
or registered investment advisor.
SOURCE Mark 1 Industries, Inc.
-0- 10/12/98 /CONTACT: Paul R. Smith, Mark
1 Industries, Inc., 770-509-1040/
(MKII HCI.TO)
CO: Mark 1 Industries, Inc.; Heritage Concepts International, Inc.
ST: Georgia IN: FOD FIN SU:
*** end of story ***
|
