| An SI Board Since January 1998 |
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MDMI |
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More exciting news is due out soon on MDMI. Massimo da Milano, Inc. is a commercial bakery and developer/operator of a Northern Italian restaurant in the Dallas/Fort Worth area. The clientele for their baked goods ranges from the Dallas Cowboys to Hilton Hotels and fine restaurants in Dallas and Fort Worth.
On January 15th, 1998 it acquired certain assets of Java Centrale [Nasdaq:JAVC - news], Inc. (''Java'') (NASD: JAVCD), a specialty coffee and bakery retail chain with franchised cafes concentrated in California, Nevada, and the Western U.S.. Massimo's will offer its gourmet bakery and pastry products, as well as the Company's line of Italian pasta salads to the Java Centrale Franchise network. In addition, Massimo's will receive franchise royalties on Java Centrale retail sales.
Massimo is a turnaround play with enormous upside potential since coming out of bankruptcy in June of 1997 with new management. This company is making a PROFIT ! On sales of $700,000 in the quarter ending June 30, 1997 their profit was $125,000 from the bakery and the restaurant is thriving at $30,000 per month PROFIT. They closed money-losing operations and retired all pre-bankruptcy debt.
MDMI trades on OTC Bulletin Board. It has traded between .03 and .35 the past two months and is presently trading in the mid-teens. The float is 3.5 MM shares out of 27 MM total shares. However, the trading float has been significantly reduced in recent weeks due to major accumulations by a handful of long term players. This reduction in the trading float has now created volatility that provides significant opportunities for short term traders.
Information provided in this header was compiled by Marc Stager and Yahoo news releases.
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