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RDNK |
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Redneck Foods, a new issue on the OTC:BB traded under the symbol "RDNK", is a developmental stage company that is just beginning its fast campaign to own and franchise hundreds of "Jeff Foxworthy's Backyard Bar-B-Q" and "Jeff Foxworthy's Smokehouse Grill" across the nation. Now is an exceptional time to jump in on the groundwork of the next nation-wide food chain. In addition to the restaurants (which Redneck expects to have 48 of by the end of 1998, 21 corporately owned and 27 franchised), Redneck Foods also merchandises Foxworthy Bar-B-Q sauces, salsas, and other snack foods.
Redneck Foods has a promotional and licensing agreement with famed comedian Jeff Foxworthy, the second largest shareholder. Foxworthy has gained his fame with comedy such as "You might be a redneck if. . . you have a mobile home, and seven vehicles in the yard that aren't." However, you certainly don't have to be a redneck to own RDNK---in fact, a lot of incredibly savvy investors are realizing how attractive this invstment is.
Redneck Foods has and is continuing to receive vast media attention. In the past several weeks, it has been written up in USA Today, and featured in "Hard Copy" just to name a few. And with the first restaurant location opening up as I write this (Jeff Foxworthy's Backyard Bar-B-Q in Kissimmee, Florida), media attention is only bound to grow.
Much of Redneck's growth strategy inlcudes the acquisition of Barbecue Chains, which will be converted to the Jeff Foxworthy Bar-B-Q's. Redneck has been receiving requests from across the nation from entrepreneurs who would like to operate a franchise. So RDNK will have no problem with lightning quick growth. . . it is planned to begin in the Southeast, but will expand into the rest of the nation in 1999.
The Jeff Foxworthy Bar-B-Q's will be fairly lucrative for Redneck. However, as previously mentioned, RDNK also merchandises Foxworthy sauces and will soon merchandise snack foods. The sauces are currently present in 1109 Wal-Mart SuperCenters, and should be present in about 2000 stores by the end of the year. The sauces are a quality product, winning several major awards at the 1998 National Barbecue Association Awars of Excellence competition. As far as snacks go, Redneck will be marketing a highly reduced fat pork-rind (kind of ironic, as pork rinds are just fat fried in oil. . . but with the growing popularity of pork-rinds, this should be lucrative as well).
I also spoke with Redneck's Securities expert, Timothy Miles. Originally I was concerned that RDNK could suffer the fate of so many OTC-BB companies, issued at dollars a share, and drifting into the pennies as more and more shares are issued or dumped by insiders. By I am optimistic that this will not occur. All efforts will be made to not further dilute the stock at current price levels. . . instead, financing is being sought.
RDNK has 7,592,000 shares outstanding with 1,720,000 in the float. While costs will obviously be high this year due to the establishment of the restaurants, the company expects to be profitable in only one year, 1999 (unlike so many companies that take years of operations to show a profit).
The company is already has audited financials, and is moving forward quickly to file with the SEC, so movement to the pinksheets will not be a possibility.
All in all, Redneck seems to be an extremely solid company. It has a great product, great potential, and a great spokesman in comedian Jeff Foxworthy, currently America's most popular comic.
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