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"Chicago Pizza & Brewery, Inc. (CHGO) owns eight restaurants in Southern California, one in Boulder, Colorado and one in Lahaina, Hawaii, which operate under either the names ``BJ's Pizza & Grill'' or ``BJ's Pizza, Grill & Brewery.'' The company also owns 18 Pietro's Pizza locations in Oregon and Washington, three of which have been converted to the popular, upgraded BJ's Pizza restaurant format, while the other fifteen await conversion within the next year. BJ's restaurants offer customers moderate prices and tremendous value on an incredible menu that includes deep-dish, Chicago-style pizza as well as sandwiches, salads, fabulous desserts, critically-acclaimed hand-crafted beers and more." I can vouch for their product which is very good and the restaurants always seem to be packed. The company went public in November, 1996, at $5 per share primarily to finance the acquisition and conversion of the Pietro's Pizza locations. Everything was going fine until the March time frame when the stock took a nose dive to the $2 level. The cause was the bankruptcy of their market maker and underwriter "Boston Group". Fundamentally nothing has changed within the company and if anything it is getting stronger. The bankruptcy of Boston Group and lack of liquidity for their shares has caused the steep decline. Fundamental Data: (000) 6/30/97 6/30/96 6 month sales $12,425 $8,308 Deprecation 334 327 Net Loss (54) (1,054) Balance Sheet Cash 3,715 5,486 Debt and Capital leases 3,603 3,961 Total Equity 12,064 12,123 Total outstanding shares 6,408,000 market cap *1 11/16 = $10,813 In summary they have a strong balance sheet, excellent growth prospects, no analysts coverage, small float, stock price under book, price to sales under 50%, 30% own by insiders, no further stock dilution imminent and recent decline in stock appears to have nothing to with company. This appears to be an outstanding investment! Any comments? Sources: bjsbrewhouse.com sec.gov Recent News Releases: quote.yahoo.com | ||||||||||||||
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