Premier's Players Grille Reports March Restaurant Sales Comps up over 18% and Increased Same Store First Quarter Sales and Customer Counts Thursday April 28, 8:01 am ET
DALLAS--(BUSINESS WIRE)--April 28, 2005--Premier Development & Investment, Inc.'s (OTC Bulletin Board: PDVN - News) Players Grille operating division announced that comparable same store restaurant sales for the monthly period ended March 2005 increased 18.3% from those in March 2004. Sales for the three months ended March 31, 2005 show a 14.7% increase in total consolidated comparable sales, when compared to the same quarterly period in 2004.
Customer counts in March, as represented by check count, saw more than a 24 % increase from the March 2004 period and for the three month period ended March 31, 2005 customer counts were up 20% from those of the comparable period a year ago.
Michael Hume, General Manager of Players Grille, stated, "I am very pleased with the results we achieved in March and for the first quarter of 2005. We continued to see increased customer counts and gross sales in 2005 due to our focus on customer satisfaction, improved food quality, and the roll out of new menu items. We achieved a substantial increase in beer, wine and liquor consumption comps for the three month period, which were up 57% collectively as a group compared to last years first quarter. Sales in these categories were especially strong this first quarter due to major events such as the Super Bowl (TM) and March Madness."
About Premier
Premier Development & Investment, Inc. is a publicly held developer and operator of theme-based restaurant and bar concepts. These concepts are developed internally and through partnerships with other restaurant developers with the intent of building them into full-fledged chains and franchise opportunities. Premier owns and operates the Player's Grille Restaurant and Bar(TM), a casual dining sports themed concept based in Florida. Premier Realty Holdings, Inc., a wholly owned subsidiary, operates Countrywide Realty Services, http://www.cw-realty.com , a full service commercial and residential listing brokerage firm specializing in selling, buying, or leasing properties and providing a full range of real estate services to the greater Miami and Southeastern Florida marketplace.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Premier Development & Investment, Inc.) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the restaurant industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and prospective dealings and joint venture projects. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Premier. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and changes in federal or state tax laws. For a description of additional risks and uncertainties, please refer to Premier's filings with the Securities and Exchange Commission. Contact:
Investor Relations 954-447-9268 ir@premierdev.com www.premierdev.com Posted by andrewAAB on :
I have been holding this off the boards for sometime.. I think this is gonna be the breakout week for PDVN.. I have a friend that was there this weekend and talked to the GM.. He said on the year sales are up 33% and they are looking better everyday.. They are looking to buy another location this year and maybe start a franchise.. Lots of action the past week and this looks to be primmed to make you some bank..
american bull has a buy-if.. Check it out.. I think it will gap in the am and run..
GLTA
Posted by andrewAAB on :
nice gap open.. lest see what this baby can do.. Posted by andrewAAB on :
nice tight spread.. SCHB on the bid and off the ask @.115
Posted by andrewAAB on :
gettin hits.. this might be a nice uptrend starting.. tight spread..
Posted by andrewAAB on :
about to be in the .13's... this baby is cooking! All Aboard!!!!!!! CHOO CHOO!!!!!!
Posted by lushka16 on :
I'm in @ .117. Nice find Drew, I really like that chart.
Posted by andrewAAB on :
me too.. lol nothing better then fallin from a 1.50 to .117 for no reason! means this baby will be back up in no time.. Posted by andrewAAB on :
man this are runnin this baby nice.. L2's are hot hot hot!
Posted by clbgroove on :
Drew..maybe i should go home and get my t-shirt from there and wear ir for good luck huh!!lol
Posted by andrewAAB on :
LOL!!! what! your not wearing it!!! yes go put it on! LOL and a hat too!
Posted by mydogsky on :
Nice call andrew.
Posted by Albireo on :
Agree. This one is just waiting to fly. I can't wait for it to happen (my hope is today!).
Posted by andrewAAB on :
If this plays right I think it will run for a few days.. also a quarterly report is due out pretty soon..
Posted by andrewAAB on :
some big buys going through.. always a good sign.. eat up those shares baby..
Posted by andrewAAB on :
oh incase I am still sleepin watch this.. it runs in the afternoon..
Posted by lushka16 on :
Holy crap, this thing just croaked. Hopefully just a shakedown.
Posted by Albireo on :
With the amount of volume on this one, it has to just be a shakedown. The wind hasn't quite gotten a hold of this one yet, but it's coming.
Posted by andrewAAB on :
this is just getting started.. for it to go up we have to have holds so the demand will jack the price.. i am holdin it this week and seein what happens..
Posted by andrewAAB on :
gettin hits.. i am guess, but I think this will gap tomorrow like it did today..
Posted by andrewAAB on :
watch for eod run and gap in the am.. seein big vol the past 3-4 days.. gonna blow soon..
Posted by andrewAAB on :
come on biotch thats right.. get those buys!!! muhahaha!
Posted by lushka16 on :
Hmmm, no EOD run, but some MM seems to be desperate for shares.
Posted by andrewAAB on :
only thing i cared was no big sell off and it held up nice.. just need the shares to be bought up and get the demand and we will fly.. i think this is 4 days in a row of plus million vol.. good things to come.. Posted by renrob05 on :
Pretty good day. Up a penny. Look at Americanbull tonight, it will have a BUY CONFIRMED posted.
Posted by andrewAAB on :
PREMIER DEVELOPMENT & INVESTMENT INC Daily Commentary
Our system posted a BUY CONFIRMED today. The previous SELL recommendation that was confirmed was made on 03.31.2005 (39) days ago, when the stock price was 1.0600. Since then PDVN has fallen -89.62% .
Were you eager to go long? Well, without doubt, it was the right time to do so. The BUY signal was finally confirmed, and most probably you have called your broker and placed your long orders with no hesitation.
Don't worry if you have missed this buying opportunity. The market may now give you a second chance. You may still find good prices for buying in the next session.
THATS RIGHT!!! BUY CONFIIRMED!!!
Posted by renrob05 on :
This thing is going up atleast 10% a day since it bottomed at 0.07. Nice!!
Posted by nick789 on :
Americanbull confirming it as a BUY. Upticking L2s...a matter of time and this will fly!!
Posted by renrob05 on :
Who's in this one?
Posted by andrewAAB on :
this is hot hot hot!!
Posted by Albireo on :
I'm in as of yesterday. I got in at .123 (which was a dissapointment since it fell to .1 yesterday), but I'm very confident that we will be seeing 50 cents to $1.00 within a month. What do you all think?
Posted by andrewAAB on :
I am with ya buddy.. just a matter of time this will blow up..
Posted by chadsly on :
I don't know about a month from now, but I think we should see .20 to .30 by the end of the week. I freeing up some funds now to get in at .119.
Posted by clbgroove on :
I guess I'll take 300% if I have to!!! lol
Posted by andrewAAB on :
lol... just a matter of time.. nothing more nothing less..
Posted by andrewAAB on :
nice dip.. will run from here..
Posted by YunGFree on :
easy double baby!!! muhahahaha!
Posted by renrob05 on :
Yes when this goes it will be huge.
Posted by andrewAAB on :
could see .15 today...
Posted by chadsly on :
I'm right there with ya, drew. This has been building steam for the past week. Way more buys than sells.
Posted by YunGFree on :
cant wait til this really takes off...soon imo
Posted by PennyStock_Master on :
I like this one a lot. It held steady @ $1.00 for a year.... My guess is it started to go on a downtrend and panic selling took a hold of it.
I have searched and there is not reason for the price dropped other than panic.
so this will be going up shortly. IMO
Posted by andrewAAB on :
it might be best if this is dead and runs eod and starts the uptrend... usually a morning runner never runs all day.. so we will see.. might be a blessin if this does nothing until after lunch..
Posted by svrider650 on :
Morning Andrew
Posted by andrewAAB on :
sup.... lol wish i was in bed still
Posted by svrider650 on :
LOL I wake up at 2, 3, 4, and 5 and cant go back to sleep waiting for the market to open even wish weekends would pass LOL I am introuble hehehe
Posted by andrewAAB on :
lol i wish we could trade at night.. i am more of a night trader.. i am awake but don't really wake up until like 8pm.. yeah weekends do suck.. lol i like the thrill of the tradin..
hey ppl buyin at these prices.. its gonna go..
Posted by Albireo on :
sup andrew... Today just might be the day that this thing bounces back. An afternoon run would be wonderful. With the high buy volume lately, the only direction this thing has to go is up. GL everyone and get ready for the ride. :=)
Posted by YunGFree on :
if you havent got in already, this may be about the lowest you'll be able to before it goes
Posted by YunGFree on :
wish i had funds to buy at .10
Posted by andrewAAB on :
same here.. lol
Posted by lushka16 on :
Heh, I can't even get a fill at ask.
Oh there it goes... took a few minutes
Hahaha, damn my skinny fingers. I put in 1700 instead of 17000
Posted by andrewAAB on :
man!! lol wasted comm fee.. lol Posted by YunGFree on :
took a little while to fill mine a couple days ago too., but i'm in at .12 and feeling confident about it.
Posted by clbgroove on :
scottrade filled me at .096 pretty quick but my bid is showing .092 now...drew do have have any 11's
Posted by YunGFree on :
ask: .096 .10 .11 2 at .12 3 at .15
Posted by chadsly on :
SCHB on the bid and ask
Posted by YunGFree on :
hey chad...mine looks nicer lol
Posted by clbgroove on :
thanks guys..I was personally in this restaurant over the weekend and it is top notch area and location, and was real busy...i dont think they are going anywhere but up!!! GLTA
Posted by chadsly on :
quote:Originally posted by YunGFree: hey chad...mine looks nicer lol
yea, I noticed. I'm just not that fast of a typer yet.
Posted by daily double on :
Do ya know how many restaurants they have and where they are located?
Posted by andrewAAB on :
they have one now and are working on getting one or two more in 2005.. they are also working on starting this as a franchise deal.. big bucks..
Posted by clbgroove on :
Right now they only have the one which they bought from the same owner who owns the origanal location in Jacksonville,FL. They also have the first right of refusal on that one when it is for sale,however,PDVN has the name trademarked and according to Mike the GM they are planning on opening 4-6 corp locations before they start franchising. This is a high money area as well as a great location that has been all built up in the last 3-4 years. All the major chains are right there. This location is in Orange Park which is about 15-20 mins south of Jacksonville.The food was very good and my outlook always has been if they cant make a hamburger and wings without screwing it up at a sports bar they will never make it. I had both and they kicked a**.
Posted by clbgroove on :
sorry drew was typing my book..
Posted by andrewAAB on :
lol no man... that is some great info!! u should post that on the under .10 as well.. Posted by net10708 on :
Well, I would say this a great buy right now. I'm in. Nice pop soon, we think.
Appreciate all of the info posted on this too. Thanks. It is appreciated.
Stocks like this one can become real stocks, too. You 'know' what 'that' can mean.
Posted by YunGFree on :
if i had only waited a little longer...i think these prices are a bargain... i think in a week or so we'll be in the 20s
Posted by andrewAAB on :
i am gonna pick up more if i can get the funds transfered fast enough...
Posted by net10708 on :
Successful, expanding restaurant stocks are all $1+ stocks. YEAH - I'LL TAKE THAT!
Holdin and watchin.
If a POS like VNTB can go up, we sure as heck will!
Posted by clbgroove on :
Was reading thier releases and beer,wine ,liq sales are up 57% over last year. Its a sports bar so thats where they want to focus cause if they drink they will eat!! Might as well avg down now and sit and wait for the ride!
Posted by andrewAAB on :
it is getting tons of buys at .082.. come on!!!!! transfer my money darnit!!!!!!
Posted by clbgroove on :
wouldnt fill me at .080 for last 20 mins so i backed out thinkin of the eod sell off that usally happens..will probably buy it around .077
Posted by andrewAAB on :
i am hopin since it hasn't ran it will eod and start the uptrend today..
Posted by TalonSin on :
I'm in
Posted by andrewAAB on :
if this baby can hit .09 and keep the bid as-is it can fly.. I rather play whole numbers then have the fraction chit to slow this down.. this might be what it is waiting for before it turns loose.. lets see..
Posted by andrewAAB on :
come on baby! get at .09 for me!
Posted by net10708 on :
PDVN now ready I think. Stabilized. This thing will pop to +.11 quick when it goes.
Posted by andrewAAB on :
i am tellin ya.. we hit that 9 and keep them whole we are gone..
Posted by svrider650 on :
Whats the L2 look like guys
Posted by andrewAAB on :
bid 4@.08
ask 1@.082 1@.09 2@.10 1@.11
Posted by svrider650 on :
Thanks
Posted by andrewAAB on :
this is lookin great!!! get the late hits and start our money train! muhahahahaha!!!!!!!!!!!!
Posted by chadsly on :
The ask is back up to .09. I wish my other stock would hurry up and sell so I could get more PDVN here. It's looking for a late afternoon jog (maybe not quite a full out run).
Posted by andrewAAB on :
lol i will take a jog..
Posted by PennyStock_Master on :
LOOKING good for EOD run
NITE & SCHB bumping the bid
Posted by andrewAAB on :
just keep that ask at whole numbers.. all i care about..
Posted by andrewAAB on :
some big buys goin... thats what I am talking about baby!!
Posted by andrewAAB on :
gettin hits.....
Posted by lushka16 on :
Here it goes... I hope Posted by andrewAAB on :
get that buy at .09 and we are good to go...
Posted by lushka16 on :
I dunno drew... this one just seems to want to go lower. I'm still in, but hope is starting to replace anticipation.
Posted by net10708 on :
They aren't giving shares of this stock away on the corner are they? My share value keeps dropping. Maybe it's only my shares?
Is the 'pop' tomorrow? Hee hee.
Posted by pcloadletter on :
I'd settle for a phssst tomorrow.
Posted by Albireo on :
morning all... I've got my hopes up for today, because there have been too many bad days lately... It's time for this thing to rebound.
Posted by andrewAAB on :
looks to be uptickin before open..
Posted by andrewAAB on :
wow.. tons of buys gooing through on this one...
Posted by chadsly on :
And they keep bringing up the bid. Look at the support.
Posted by net10708 on :
Yeah, been watching that. I think it might run today - and soon.
Posted by chadsly on :
For some reason it seems to do great in the morning and then slump off toward lunch time. If we buy sustain through lunch we are going to have a huge day.
Posted by andrewAAB on :
could be our day... Posted by renrob05 on :
Bought 29000 at 0.083 this morning. This will fly!!
Posted by andrewAAB on :
L2's are so hot... get to .15 and no tellin where we will stop.. come on baby!!
Posted by lushka16 on :
Oh man, this thing is pure torture. Where's the support?
Posted by renrob05 on :
This just a shake hang in there. Look they won't even bring down the ask. F***ing MMs.
Posted by renrob05 on :
They'll keep on bringing down the bid if the idiots keep selling.
Posted by renrob05 on :
Finaly they drop the ask...Man the RSI on this on is 12. That's right 12...This will turn around.
Posted by andrewAAB on :
lol this is FUN!!!!!!!!!!!!!!!
Posted by Ktrain420 on :
LOOK OUT BELOW!!!!
Posted by pcloadletter on :
Fun? I want to say WAHOOOOOO!
Not Look out below. : )
Posted by Ktrain420 on :
im sorry......but ya never wanna stay in these turds and watch um fall....cut your loss when it is minimal and not half your stack.......and get back to daytradin' if ya wanna INVEST play the big boards.......GL
Posted by renrob05 on :
Yeah but Ktrain if you would of bought FNIX when it was at its low of 0.023...You would of made a killing. Same situation here.
Posted by andrewAAB on :
nah I am buyin more.. i have time to wait.. I am moving pretty soon so won't even be on the net for awhile.. Posted by Ktrain420 on :
GOOD LUCK......JUST MY 2cents... Posted by andrewAAB on :
I want your 3g's not 2cents @ss!!!! lol u guys should listen to Ktrain not me.. I am pretty crazy... muhahahaha!!!
normal I would have dropped out of this, but just my life right now is crazy so...
Posted by lushka16 on :
I might have to drop out soon... I can't take the continued loss, and the money could be used better elsewhere. I guess I'll see where the afternoon takes us.
Posted by chadsly on :
If anyone cares, I'm leaving my (what was) $300. It's down to about $170 now. It almost seems pointless for me to take it out at this loss. It's gotta bounce eventually (right?).
Posted by YunGFree on :
im still here
Posted by renrob05 on :
check out the spread.
Posted by lushka16 on :
This definitely can't hurt...
Though some volume would be a great help
Posted by renrob05 on :
Hang in there. MMs freaking games.
Posted by andrewAAB on :
honestly I don't understand why we haven't gone.. we have had tons of attention... the only thing I see is the big drop has investors scared and they think something is up... I have went through all of their filings and Pr's and nothing, but good is going on... the charts are getting better and I think this is the bottom.. .077.. the MACD looks to be rounding up and we are way oversold... when I first bought in this it had just dropped and the charts i knew would take time to strighten out.. they are doing this now and it could be a week or two before we go... I am in at .1035 and not selling.. I am not investing in this with my heart.. I invested in this with my brain.. so do your own DD and sell of stay in.. I don't hold that against any u you.. if I knew when it was gonna go I would be rich...
Posted by clbgroove on :
Anyone know how many sells are coming through...i think im gonna put a order in at the bid and see if they will fill me. wouldnt hurt to avg down at this level since im just going to park this one for next couple of months..
Posted by clbgroove on :
Figures...should do that more often and screw with um!!!!!!lol
Posted by TalonSin on :
I just consider it a sale on a great stock. Just a matter of time before this picks up and takes off. This is a very long one for me. I'm gonna hold this one for several years to see if they can grown into a "Fridays" or a "Carrabbas".
Posted by andrewAAB on :
okay after diggin through everything the only one negitive is that Jones is selling 500k shares.. but he is contracted that he will only sell them at $1 per share.. the o/s is right around 64 million and an investor just picked up a million more shares at the open market.. so the drop I think was just from feared investors and this should rebound soon... holdin strong..
Posted by renrob05 on :
Did you get filled?
Posted by clbgroove on :
$80k is not chump change...someone must know something..when did the mil get bought?? Rob..i pulled the order out after they bumped the bid to where it should have been
Posted by Naatan on :
I really hope .077 is the bottom, going to get some shares now and hope for the best Posted by andrewAAB on :
On September 25, 2004 Mr. Barnett acquired 125,000 shares of Common Stock pursuant to a Stock Subscription Agreement (the "Agreement") (the terms of which are hereby incorporated by reference), dated as of September, 2004 by and between Premier Development and Investment, Inc. ("Premier" or the "Company") and Mr. Barnett. Pursuant to the terms of the Stock Purchase Agreement, Mr. Barnett agreed to: remit the sum of one-hundred thousand dollars (US $100,000.00) or eighty cents (US $0.80) a share, to the Company and the Company issued Mr. Barnett one-hundred twenty-five thousand (125,000) shares of the Company's Common Stock, Class A, $0.00002 par value (the "Shares").
From April 26, 2005 through May 6, 2005 Mr. Barnett acquired an additional 1,200,000 shares in the open market.
ITEM 4. PURPOSE OF TRANSACTION.
On September 25, 2004, Mr. Barnett and Premier entered into the Stock Purchase Agreement, pursuant to which Mr. Barnett acquired the Shares in exchange for certain consideration described in Item 3 above and in the Stock Subscription Agreement (the terms of which are hereby incorporated by reference). Mr. Barnett acquired these shares solely for investment purposes.
Mr. Barnett acquired shares in the open market for investment purposes.
Mr. Barnett does not have any present plans or proposals that relate to or would result in the occurrence of any of the events or matters described in Item 4(b)-(j) of Schedule 13D. Mr. Barnett may acquire additional shares in the Open market or may dispose of shares in the open market if such he believes that such acquisition or disposition could result in a profit.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) Mr. Barnett is deemed the beneficial owner of 7,340,000 shares of Common Stock of the Company representing 10.73% of the Common Stock of the Company outstanding as of March 1, 2005. This number includes: (i) 7,340,000 shares of Common Stock currently owned individually by Mr. Barnett, and (ii) no currently exercisable options.
(b) Mr. Barnett has sole voting power over 7,340,000 shares of the Common Stock and shared voting power over 0 shares of the Common Stock. He has sole dispositive power over 7,340,000 shares of the Common Stock and shared dispositive power over 0 shares of the Common Stock.
(c) Except as reported above in Item 3, Mr. Barnett has not effected any transactions in the Common Stock during the past 60 days.
(d) No other person has the right to receive and the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities owned by Mr. Barnett.
(e) Not applicable.
Posted by clbgroove on :
if he avg'd out at at .20 by the time he was done. (he started before the fall and ended before the big fall) he would have dumped an additional $240k into a sinking company that he already owns 6m shares of?? I dont think so...he HAS to know something is in the works...lets not forget that the rest is not the only source of revenue they have...they also have a realty company ( a florida realty company at that) and we all know what the florida market can do.Put the shares in a lock box somewhere and come back in a year and collect your money!!!!!!
Posted by andrewAAB on :
lol I don't think it will take a year to see green.. come on FRIDAY!!!! woooooohhh!
Posted by YunGFree on :
has anyone tried calling Investor relations asking if they can explain the huge drop?
Posted by Ktrain420 on :
call the transfer agent
Posted by andrewAAB on :
anyone gonna call?? if not list the number and I will.. let us know..
Posted by andrewAAB on :
i picked up 12k more at .078
Posted by Ktrain420 on :
813-932-6822.....talk to the transfer agent if possible.........GL
Posted by YunGFree on :
Here ya go Andrew..let us know if u find anything out.
Who is Premier's stock transfer agent? Transfer Online, Inc. 227 S.W. Pine St., Ste. 300 Portland, OR 97204
(503) 227-2950 phone (503) 227-6874 fax
I also got the IR number:
IR: 954-447-9268
Posted by PennyStock_Master on :
quote:Originally posted by andrewAAB: anyone gonna call?? if not list the number and I will.. let us know..
Business Description: Not Available
Posted by clbgroove on :
apparently that helped...see if i can bump them again with order at .076
Posted by clbgroove on :
not fillin...????
Posted by clbgroove on :
no one selling or what...maybe a positve sign
Posted by clbgroove on :
K train ..take some of that cabbage from last few days and jump in with both feet!!! We could use ur good luck charm about now..u jump in and it will run for a triple in 30 mins!!! lol
Posted by clbgroove on :
just took order out but they didnt fill
Posted by Albireo on :
I e-mailed IR yesterday evening, but no response so far... Let us know what you find out Andrew! I'm very anxious.
Posted by renrob05 on :
0.077 thinking of buying more.
Posted by Ktrain420 on :
i called and Miss. Cleo answered.......call me now......lol
Posted by andrewAAB on :
I will call in a few mins.. I will let ya all know what I find out.. i bought another 6500 at .077
Posted by clbgroove on :
what she say "go all in or you'll be sorry" lol
Posted by Albireo on :
Hey K, do you think this thing will turn around soon? Your opinion is definitely in high demand on here.
Posted by Ktrain420 on :
im not gonna DD this thing cause im not playin' it.......can't do the work for ya.......but im not showin' anything that would tell me it's gonna take off........i did not pull a chart on it or anything sooooo.......i really don't know.......good luck with it .......most of these pennies are TURD'S there set up for daytradin' in my opinion........GL
Posted by andrewAAB on :
lol turds!!!!!! K isn't into the holds.. he is a day trader all day every day.. I have had others look at the charts and DD and they said the only thing that hurts is how fast it dropped in price for no reason... other then that they thought it looks good..
Posted by Ktrain420 on :
i did not say this was bad.......but what i will tell ya.....if ya look back to the late 80's early 90's at old pennies ........NOT ONE OF THEM IS STILL IN BUSINESS WHICH EQUAL'S TURD!~!!
Posted by PennyStock_Master on :
Look at this chart, FCCN, ths is exactly what is going to happen here.
Stock Information (January 2005) ( View Chart ) Trading Symbol (OTC Bulletin Board): PDVN Industry: Restaurant and Bar Industry (SIC: 5812) 52-Week Price Range: $.86 - $2.75 Average Daily Volume: 49,793 Common Shares Outstanding: 68,419,069 Class A, $0.00002 par value Estimated Insider Ownership: 33.3% Estimated Institutional Ownership: under 3% Transfer Agent: Transfer Online, Inc. Independent Auditors: Baumann, Raymondo & Company, P.A
Premier Development & Investment is a publicly traded developer and operator of theme-based restaurant and bar concepts. These concepts are developed either internally or through partnerships with other restaurant developers with the intent of building them into full-fledged chains and franchise opportunities.
Strategy for Disciplined Growth and Prosperity
Premier's business strategy calls for the development of theme-based restaurant and bar concepts through strategic partnerships and joint venture projects. Ultimately these concepts are to be built into full-fledged chains and franchise opportunities. By co-developing the restaurant and bar concepts in this manner Premier is able to: 1) reduce its financial exposure by sharing in the development and marketing costs typically associated with opening new restaurant and bar concepts; 2) generate secondary or alternative sources of revenue by providing professional restaurant and bar management consulting services through the collective expertise of Premier's management team; and 3) better diversify Premier's restaurant and bar portfolio to minimize financial exposure to any single operation or concept.
Acquisitions, Strategic Alliances and Future Growth
Premier is constantly on the lookout for new acquisitions or strategic partnerships that may make a good fit with Premier's business strategy. Premier anticipates making a few strategic acquisitions in 2004 and beyond to accelerate growth and profitability. Premier also anticipates entering into other forms of agreement that make good business sense, for example the Coconut Grove joint venture.
Additionally, Premier recently entered into a strategic alliance with Stag Financial Group. Through this business alliance Stag Financial will provide Premier with various financial consulting services and assist Premier with utilizing its status as a publicly traded company to conduct occasional registered "spin-offs". Each such spin-off will result in a new stock dividends payable to Premier's loyal shareholders while increasing Premier's net income and enhancing its balance sheet. Premier anticipates conducting two to four such spin-offs each fiscal year. This Strategic Alliance is expected to be accretive to Premier's earnings per share (EPS).
A Unique Opportunity
Premier Development is an up-and-coming player in the restaurant industry. Through its fiscally sound business plan, dedicated management team and underlying cost controls, Premier anticipates rewarding shareholders with robust growth in both revenues and profitability for years to come. Management looks forward to sharing this good fortune with Premier's shareholders at large.
called but couldn't get through.. will try later..
Posted by andrewAAB on :
muhahahhaa!!!!!!!! i have officaly lost it... muhahahah!!!!!!!
Posted by andrewAAB on :
eod run u biotch!!!!!!!!!!!!!!!!!
Posted by clbgroove on :
just got off the phone with investor relations..he states that the quarterly filing will be out monday cause the deadline is on a sunday and 1. there has been no financing of any kind done. 2. They are bidding on some other loactions and trying to expand 3. everything in the release will be positive 4. there should be no reason the price is down that they know of(yeah like he would tell me otherwise right) I didnt get his name cause he had to grab another call and told me to call him back but sounds like the person on both company voicemails(investor relations/reg co number)
Posted by andrewAAB on :
muhahahaha!!!!!!!!! D-day monday!!!!!!!! i thought a quarterly was due..
Posted by Albireo on :
thanks clbgroove, so I guess this means that Monday will involve fireworks and joyful activities???
Posted by clbgroove on :
he said they are on track for filing...i am currently listening to the recording of the call and he states"we are planning on adding more" and stressed that there has been no finacing or missed payments or such...
Posted by andrewAAB on :
muhahahaha!!!!!!
Posted by clbgroove on :
fireworks or fires/ one or the other//lets hope on positive fireworks... I thought I would add this off my other post...when I spoke with Mike Hume in person Saturday at the restaurant I asked him if there were any other locations or if they owned the origanal location in Jacksonville and he stated with a smile and a raised eyebrow "not yet but we are looking". Kindof the same vibe I got from IR...bring on the bank
Posted by clbgroove on :
order in 4 15k more at 070..c what happens
Posted by clbgroove on :
figures..bid just raised...pound salt MM's ...come get me im not chasing u
Posted by clbgroove on :
order out...remembered when they screwed me with the partial fill BS of 100 shares and the commission
Posted by andrewAAB on :
workin on a order myself.. cl post your findings on the under .10 too... lets see a nice gap tomorrow.. Posted by clbgroove on :
big spred on my stremer...see what happens tom
Posted by andrewAAB on :
at least we know there are 12 MM's on the bid at .07... lol
run you little biotch!!!!!!!!! TO A $1!!!!!!!!!!!!!!!!! LOL
Posted by clbgroove on :
To D moon Alice
Posted by andrewAAB on :
man I was feelin bad before.. but a pr comin on monday.. I feel good baby!!!!!!!!
Posted by clbgroove on :
damn wouldnt that be nice drew...$1...it hits that and im going back there to buy a beer and a couple more t-shirts for better luck!!!! lol
Why didnt the *******s fill me at 7 ??
Posted by clbgroove on :
why dont someone else try to call IR and see if u can get some info on the realty side of things or if they are even focusing on that right now
Posted by clbgroove on :
954-447-9268 BTW gooooooo Q inching away
Posted by andrewAAB on :
clb... if i get a min I will give them a call and pick away.. this hits a dollar I will fly u to florida and we will have a beer!!! on me.. LOL
Posted by clbgroove on :
hey guys i need some stars ***** help out a fellow PDVN player grille kinda guy!!! lol
Posted by andrewAAB on :
lol i already gave ya 5 before.... btw I am from wauseon(by toldeo) OHIO... live in florida now.. Posted by clbgroove on :
10-4...as a matter of fact i have changed planes in tampa everytime i fly into that damn state!! If Q takes off a little more we'll have to have a small getting ready party for the big Vegas party!!!!!!!!!!!!!!!!!!!!!!
Posted by clbgroove on :
we'll go to the flats and get drunk on Franks money...give u a reason to come home right??
Posted by andrewAAB on :
lol yeah.... if QBID hits its a deal.. since I made a blood oath never to return to ohio.. but if I am a millionaire.. i guess lol Posted by Albireo on :
I gave you lots of stars, clbgroove. Thanks for taking the initiative and making the call to IR. It's greatly appreciated, especially after this past week. We'll all just have to hang in there until the PR comes out. This thing's gonna shoot to the moon ever so soon!
Posted by clbgroove on :
thanks alb... drew...Ohio's not that damn bad unless your here between nov-april...other than that its great...lol Sure beats the Florida justice system motto "Come to Florida on vacation, leave on probabtion, return due to probabtion violation"...U guys scare me down there..they lock u up for looking at someone wrong..i have a bunch of family in Orlando area
Posted by lushka16 on :
On Monday they'll come out with their quartly report, it'll all be honky dory, lots of people will take notice and the stock will shoot? Is this logical reasoning or just wishful thinking?
Also clb, what did you ask when you called? There have been times I've wanted to call a company, but I don't really know what to ask.
Posted by nick789 on :
I called the IR. They told me quarterly gonna be in by the end of the month. Also, that there will most likely be a pr in around two weeks... The money will soon be coming in. I can smell it!!
Posted by andrewAAB on :
Quarterly will be out monday...
Posted by renrob05 on :
Ok...when is the quarterly coming out. Why are we getting two different stories. Is there a pr soon?
Posted by andrewAAB on :
quote:Originally posted by clbgroove: just got off the phone with investor relations..he states that the quarterly filing will be out monday cause the deadline is on a sunday and 1. there has been no financing of any kind done. 2. They are bidding on some other loactions and trying to expand 3. everything in the release will be positive 4. there should be no reason the price is down that they know of(yeah like he would tell me otherwise right) I didnt get his name cause he had to grab another call and told me to call him back but sounds like the person on both company voicemails(investor relations/reg co number)
monday
Posted by renrob05 on :
I'm gonna call tomorrow and make sure. Let you know my findings.
Posted by andrewAAB on :
quote:Originally posted by renrob05: I'm gonna call tomorrow and make sure. Let you know my findings.
okay thanks.. Posted by andrewAAB on :
goona pick up some more if this drops back to .071-.072 area
Posted by YunGFree on :
dang andrew, you must have a trillion shares by now...
Posted by andrewAAB on :
lol hey what can I say.. I like this one...
Posted by clbgroove on :
hey guys check out IDVL..running really crazy ..up from .0001 to .0011
Posted by net10708 on :
Hit bottom, and finally starting to move. I'd watch this one.
Posted by Albireo on :
Hey guys... Got this e-mail back from IR this morning. It really isn't that informative, but it's nice to know that they responded...
"I am writing this e-mail in response to your inquiry regarding PDVN and its recent share price. I can understand your concern. Fundamentally, the company has recently reached some important milestones including increased revenue. Unfortunately, we can only control the business elements of Premier development, and not the stock price. We are also prevented from discussing daily fluctuations in price and volume due to the SEC's rule on Fair Disclosure (rule FD) which in lay terms calls for the dissemination of any corporate news to all shareholders simultaneously. I have attached further information on rule FD for your review. As far as your request for additional information, you can review all of our latest filings and releases through the following link: www.premierdev.com . Additionally, press releases will be announced as news worthy events present themselves.
We are proud to be a fully compliant SEC company, and cannot divulge any non-public information to our shareholders. We have added your e-mail to our database to ensure that you receive all future press releases. We will gladly provide you with any additional information you require, and we welcome your continued presence as a shareholder. Please feel free to contact us at any time.
Sincerely, Victoria Wright Investor Relations 954-447-9268"
Posted by chadsly on :
quote:Originally posted by andrewAAB: goona pick up some more if this drops back to .071-.072 area
Looks like you're gonna get your chance.
Posted by clbgroove on :
70k freking shares down from 1.2m..this is real real strange other thanthe fact that whoever was doing all the heavy buying recently knew the pr and filing was coming out and now they are done and wanted the buys in before the release????
Posted by clbgroove on :
guess i better move this symbol on my screen...i looked over and it showed .0021 and i about fell out of my chair..luckily it was udve and not pdvn..lol
Posted by andrewAAB on :
LOL!!!
Posted by clbgroove on :
drew we need this to go down a little today.....would it take a buy or a sell based on those numbers????
Posted by andrewAAB on :
right now its in limbo.. i think if we can keep the buying pressure low and do nothing they will start to lower... i think we will see .072 before the day is down..
Posted by andrewAAB on :
there we go!!! .072.. try to get a buy at the bid if I can..
Posted by clbgroove on :
u fill
Posted by andrewAAB on :
not yet.. need a sell to fill me..
Posted by andrewAAB on :
yeah baby!!!
Posted by clbgroove on :
no takers on the block huh?? oops hold out or was that u taht filled..just dropped
Posted by andrewAAB on :
i got my fill.. holdin strong now...
Posted by andrewAAB on :
okay.. now I am temped to buy some more... lol these prices are a steal!!!!
Posted by clbgroove on :
im all over that .061.. shi* oh well..i think they wre testing me
Posted by clbgroove on :
whats the 2's look like..what the he77 r they up 2
Posted by andrewAAB on :
some ppl are gonna feel dumb when this takes off again.. lol this will run hard off the news monday... even harder if they announce a bid or two on another location!
Posted by andrewAAB on :
ask 2@.07 1@.078 3@.08 1@.085 1@.098
bid 1@.065 2@.061 2@.06
Posted by clbgroove on :
well the .061 is me but im gonna leave it and see if they will come to me??
Posted by clbgroove on :
took it out awile ago...damn..almost feels like they are throwing dirt on my head and buring me...holy shi**/// now i know why people want to drive to companies and beat the he77 out of someone..
Posted by andrewAAB on :
lol
Posted by clbgroove on :
my whole damn screen is red 80%...where the bids now??
Posted by andrewAAB on :
chit happens.. lol
Posted by net10708 on :
Well, just taking it up the old _____ on this one. I'd sell, but who cares. It's only bucks.
I can afford this one --- but watch, it will turn around like MSEP and SMTR are doing now.
Posted by clbgroove on :
be strong net..HOPEFULLY...big pr coming next week 2 shoot us to da moon....whats that old saying" it cant go any lower can it" lol
Posted by Albireo on :
This is nutzzzz. I'm just going to ignore what's going on until Monday. The last quarterly was released at 8:00 a.m. on February 15, 2005(according to Yahoo financials), so I am expecting a major event on Monday morning when the market opens up. Hang on to your shares (and don't let your teeth fall out of your mouth), better times should be coming soon.
Posted by andrewAAB on :
hang on guys.. lol! stop actin' like a bunch of girls!! u have to have balls to trade with me.. lol i like the risky ones.. this will make u all some bank very soon.. Posted by clbgroove on :
If ur gonna gamble u gotta know when to go for it!!!. Worst case scnerio is they drop to a penny and the company buys every damn share they can and then they accidently report"oh yeah, we have been bidding on some locations and it went through" ...can we have our $1.00 back now..thank you very much!!!!!!!!!!!!!
Posted by clbgroove on :
not a terrible day drew..Q's rebounding nicely and I am .0002 over my buy in...ill take it and ill take some more PDVN to go along wit it...and ill take some plni to accent everything!!!!
Posted by andrewAAB on :
lol MM's are just fin' with it now.. come monday we will all be happy.... I will stay in even after a run monday.. unless we hit a dollar.. Posted by andrewAAB on :
.
Posted by Ktrain420 on :
hope ya'll got on your helmet's on cause this thing is droppin' like rock..........
Posted by TalonSin on :
I'm with ya, I'm in till a dollar!
Posted by lushka16 on :
I go play some tennis and come home to this?!! Geez, I might as well average down.
Posted by clbgroove on :
theres not even any damn volume//hasnt moved//why they screwing with the long guys here??????????
Posted by clbgroove on :
im in with ya til $2...hey talon...Cuyahoga Falls here
Posted by andrewAAB on :
just just day traders that buy in hopin for a run and eod sell because it didn't...
Posted by andrewAAB on :
quote:Originally posted by Ktrain420: hope ya'll got on your helmet's on cause this thing is droppin' like rock..........
don't mind K.. he just wants me back on the dark side with him.. lol
Posted by clbgroove on :
got a buddy coming in at 21000 shares...
Posted by andrewAAB on :
I am waiting for eod might pick up another 10k.. muhahahaha
Posted by lushka16 on :
Yeah, ditto
Posted by net10708 on :
I am in nice on this one, till the end (so to speak). This is one darned nice company, and I'm not hypin'. Do your DD.
Posted by clbgroove on :
last trade was 2k at 069 priors were 2x 19k at 06...man whats with all us ohio people???
Posted by lushka16 on :
Hmmm, 500 signal as last trade.
Can't wait for this report! Posted by andrewAAB on :
LOL!!!!!!!! here I am lookin at my L2's and chit thinkin the day wasn't over.. LMAO!!!!!!! man wondered why nothing was movin.. lol
Posted by clbgroove on :
i didnt see taht signal but a 200 trade came through at 15:58...who the hel7 does a $23 trade plus comm if thier not trying to test waters??? My buddy didnt get in..his streamer went down 5 mins before the bell and had it in at the bid and couldnt go to the askk...
Posted by clbgroove on :
so if the 200 was a signal then we in real good shape boys and girls!!!!
Posted by andrewAAB on :
13-May-2005
Quarterly Report
Item 2. Management's Discussion and Analysis or Plan of Operation
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and related notes appearing elsewhere in this quarterly report. This discussion and analysis contains forward-looking statements that involve risks, uncertainties and assumptions. When used in this document, the words "anticipate", "believe", "estimate", "expect" and "intend" and similar expressions, as they relate to us, are intended to identify forward-looking statements. Such statements reflect our current view(s) regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or intended. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein.
Overview
We are a developer and operator of theme-based restaurants and bars, including our wholly owned subsidiary, Players Grille, Inc.
Results of Operations
For the ease of reference, we refer to the three-months ended March 31, 2005 as the quarter ended March 31, 2005 and the period of three-months ended March 31, 2004 as the quarter ended March 31, 2004. We reference the current fiscal year which ends on December 31, 2005 as fiscal 2005.
Revenues
For the quarter ended March 31, 2005, revenues increased $339,616, or 4,245.2%, to $347,616 compared to $8,000 for the quarter ended March 31, 2004. These revenues were generated from the operation of our two wholly owned subsidiaries, Players Grille, Inc. and Countrywide Realty Services, Inc
We anticipate our quarterly revenues will continue increasing significantly throughout fiscal 2005. These projected increases are anticipated to the continued operations and planned expansions at our wholly owned subsidiaries, especially our Players Grille operations.
Gross Profit
For the quarter ended March 31, 2005, our gross profit totaled $185,792 compared to $8,000 for the year ago period. This $177,792, or 2,222.4%, increase in gross profit was attributable to higher sales.
Cost of good sold during the quarter ended March 31, 2005 was $161,824 compared to $-0- for the same period a year ago. The sharp increase in cost of goods sold was the result of our operations at our wholly owned subsidiary Players Grille, Inc. compared to no similar ongoing operations during the quarter ended March 31, 2004.
Expenses
Operating Expenses. Our operating expenses consist primarily of personnel expenses, depreciation expenses, professional fees, consulting fees and marketing expenses. These expenses totaled $219,317 for the quarter ended March 31, 2005, which was an increase of $204,987, or 1,430.4%, compared to $14,330
for the quarter ended March 31, 2004. The large increase was attributable primarily to operating our Players Grille, Inc. and Countrywide Realty Services, Inc. wholly owned subsidiaries.
Operating Loss
Our operating loss for the quarter ended March 31, 2005 was ($33,525) compared to an operating loss of ($6,330) for the quarter ended March 31, 2004. The $27,195, or 429.6%, increase in operating loss is primarily attributable to $36,616 in depreciation expenses that did not exist a year ago.
Other Income (Expenses)
We recorded expenses of $-0- and ($1,600) for the quarters ended March 31, 2005 and March 31, 2004, respectively. These expenses were to write-down the decline in value associated with our ownership in the Coconut Grove Group, Ltd. joint venture project. We sold our interest in Coconut Grove during the fiscal year ended December 31, 2004 and accounted for our ownership using the equity method of accounting. Our write-downs reflected our 20% ownership in the joint venture project.
Net Loss
Our net loss for the quarter ended March 31, 2005 was ($33,525) compared to a net loss of ($7,930) for the quarter ended March 31, 2004. This $25,595, or 322.8%, increase is primarily attributable to $36,616 in depreciation expenses that did not exist a year ago.
Liquidity and Capital Resources
Since our inception on March 29, 2001, we have financed our operating activities through private offerings of our equity securities and the personal contributions of our executive officers.
As of March 31, 2005, we had current assets aggregating $391,084, comprised of $122,459 in cash or cash equivalents, marketable securities valued at $5,000, a note receivable of $2,508, inventory of $23,275, prepaid expenses of $15,501, a promissory note payable to us of $220,000, and other consisting of $2,341.
As of March 31, 2005 we had other assets consisting of a $558,016 in equipment and leasehold improvements, less accumulated depreciation of ($98,567), and goodwill of $868,586.
As of March 31, 2005, we had current liabilities aggregating $141,620, comprised of accounts payable of $1,500, deferred tax liabilities of $29,077, and a promissory note payable by us of $111,043. We also had a long-term promissory note payable by us valued at $64,427. We do not anticipate taking on any material financial obligations or commitments that are not commensurate with increases in revenues and gross subsequent profits.
As of March 31, 2005 we had basic and fully diluted weighted average shares outstanding of 68,424,069 and 72,924,069, respectively. These represent declines of (8,987,237), or (11.6%), and (16,487,237), or (18.4%), respectively, from the quarter ended March 31, 2004. Management is continuing to explore additional methods, including additional share retirements and potential buybacks, to further reduce the number of shares issued and outstanding.
Our Business
Overview
We are a holding company involved in the development and operation of theme-based restaurant and bar properties. We were incorporated in the state of Nevada on March 29, 2001 and just commenced full-scale operations on August 1, 2004.
Our Business Strategy
Our objective is to develop - either internally or through joint ventures and other similar partnership agreements - theme-based restaurant and bar concepts that may be expanded into full-fledged chains or franchise opportunities. By co-developing restaurant and bar properties in this manner we will be able to:
- reduce our financial risk by sharing in the development and marketing costs typically associated with opening new restaurants and bars;
- generate secondary or alternative revenue streams by providing professional restaurant and bar management consulting services through the collective expertise of our diverse management team; and
- better diversify our restaurant and bar portfolio to minimize our risk exposure to any single operation or concept.
To achieve our objectives, we have developed the following focal points and strategies we anticipate implementing in our future ventures:
Create a Fun, Energetic, Destination Drinking and Dining Experience. We wish to create and promote a fun, irreverent and socially interactive atmosphere. We intend to accomplish this by utilizing unique restaurant and bar layouts, featuring both well-known and up-and-coming live entertainment performers, including local and nationally known acts, and generating a festive atmosphere which should make our restaurants and bars fun and entertaining to our guests. We believe that if we are successful at achieving this goal, that customers will seek out our restaurants and bars for a wide variety of drinking and dining occasions, including weekend evenings, business occasions, social get-togethers with friends and family members, and regular after-work happy hours and weeknight dining.
Distinctive Theme-Based Concepts. With each restaurant and bar venture we participate in we wish to create a unique theme-based experience for our guests centered around our full bar service, dining offerings and daily entertainment. The theme will be carried throughout our guests' entire visit and will involve all aspects of the experience, including the exterior design of the building, interior layout and decorum, employee greetings and uniforms, specialty drinks and menu items, and souvenirs unique to that particular theme.
Comfortable Adult Atmosphere. Each restaurant and bar that we open will be primarily adult orientated. While children will be welcomed during daytime hours as long as they are accompanied by a responsible adult at all times during their visit, no one under 21 years of age (or the minimum legal drinking age as established by statute) will be allowed into our properties after 10pm local time. We believe that this policy will help maintain a fun and relaxed atmosphere that appeals to adult guests, and will help attract groups such as private parties and business organizations.
High Standard of Guest Service. We intend to foster a passionate culture of guest service among our employees, ranging from the general manager to the greeters, through intense training, constant monitoring and emphasizing consideration of our guests first and foremost in all decisions. From the
moment a guest walks into the front door, we want our guests to experience a high level of guest service provided by a knowledgeable, energetic staff. Bar tenders will be required to be able to free pour simultaneously from multiple liquor bottles and perform "flare" techniques (flipping, tossing and twirling of liquor bottles) for our guests' entertainment; greeters and servers will be required to introduce guests to the theme-based concept, explain the drink and entree menus, and generally set the stage for a fun and unique experience for them at our theme-based restaurant and bar.
Pursue Disciplined Restaurant and bar Growth. Our management team intends to grow our company through consistent, disciplined expansion of our theme-based restaurants and bars. Through disciplined growth we will be able to better monitor new restaurant and bar openings and make sure that our guests have a positive experience and leave wanting to return again soon.
Provide Superior Drinking and Dining Value. We believe that our theme-based restaurants and bars should provide our guests with interesting, high quality drinks and entrees. Each theme-based restaurant and bar will serve a unique variety of original drinks, some available in take home souvenir glasses, and generously portioned original entrees - each designed to perpetuate and immerse the guest in the restaurant and bar's theme concept. It is our goal to generate a US$25 average check per guest, inclusive of food and drinks.
Our Industry Overview
In the United States, consumers are drinking and eating at restaurants and bars at ever increasing rates. According to the National Restaurant Association, the restaurant industry is expected to generate approximately $440.1 billion in sales during the course of 2004. This is up about 4.4% over 2003, which would comprise approximately 4% of the United States' Gross Domestic Product (GDP).
The restaurant industry is comprised of four basic segments: fast food, mid-scale, casual dining and fine dining. The industry itself is highly fragmented by the presence of thousands of independent "mom and pop" operators and small chains. We estimate that chain stores control approximately 61% of the fast food segment while controlling only about 22% of the other three segments combined. As such, we believe that operators of strong concepts, including our theme-based concepts, should be able to continue increasing their overall market share, especially in the casual dining segment.
Casual dining is the fastest growing segment of the restaurant industry. According to the National Restaurant Association, sales in this segment increased at a 6.9% annual compound growth rate throughout the 1990s, and are estimated at $44 billion annually. We believe that this segment of the restaurant industry will continue to benefit from current demographic trends, most notably a maturing baby-boomer population. The baby-boomers, or adults aged 37-55, tend to eat out more than the generations before them. Should this demographic trend continue, as they age so might their frequency for eating out. Another growing trend that we believe will contribute to further increases in casual dining is the two-income family, which may lead to more discretionary income but less discretionary time for cooking and cleaning at home.
In addition to consumers eating out more frequently, they are also drinking more than ever outside of their homes. According to Adams Business Media, a market research group, alcohol sales at restaurants and bars topped $61 billion in 2000, an all-time high. We believe this is statistically important because most drinks are typically marked up between 500% to 800%, which is about double the typical drink markup only four years ago. Should this trend continue, and we believe it will, sales of alcohol may become an increasingly more significant contributor to our overall sales and, possibly, the most significant contributing factor to our net income.
Players Grille Restaurant and Bar
On August 1, 2004 we acquired Players Grille Restaurant and Bar - Fleming Island located in Jacksonville, Florida. The purchase price was one-million dollars (US$1,000,000) and was comprised of $325,000 in cash and the issuance of 197,368 shares of common stock, 197,368 shares of Rule 144 restricted common stock, and a two-year $225,000 promissory note bearing simple 5% interest payable in eight equal quarterly payments.
Players Grille is a theme-based casual dining sports bar. As part of the purchase we acquired all ownership and rights to the brand name and concept as well as the right of first refusal to purchase the original location, also located in the Jacksonville area.
Premier intends to open up to two new Players Grille locations within the Jacksonville area during the course of fiscal 2005. We also plan on introducing a franchising program for Players Grille during the second half of fiscal 2005.
Countrywide Realty Services
On August 1, 2004 we acquired Countrywide Realty Services located in Miami Lakes, Florida. The aggregate purchase price consisted of five hundred thousand (500,000) shares of Premier Development & Investment, Inc. common stock, of which eighty percent (80%) was restricted under Rule 144 and twenty percent (20%) was free-trading but relegated to a leak out agreement. Up to an additional five hundred thousand shares (500,000) of the Premier's common stock may be earned based on meeting certain revenue and profit targets.
Coconut Grove Group, Ltd. Joint Venture
On July 30, 2001, we entered into a joint venture agreement with Tiki Hut Enterprises, Ltd. ("Tiki Hut"), a private developer of restaurants and bars, for the formation of Coconut Grove Group, Ltd. ("CG Group").
Under the terms of the joint venture agreement, CG Group was initially capitalized with a US$3,000,000 cash investment commitment from Tiki Hut and an investment by us of 1,000,000 restricted shares of our common stock which were valued at US$60,000. The investment provided us with a 20% interest in CG Group and was recorded on our balance sheet using the equity method of accounting.
On December 22, 2004 we sold our 20% interest to a private investor for US$250,000. This resulted in a one-time gain for us. We are no longer associated with the CG Group venture.
Operations and Management
Our ability to effectively manage an operation, including high volume restaurants and bars, some with live entertainment offerings, is critical to our overall success. In order to maintain quality and consistency at each of our restaurant and bar properties we must carefully train and properly supervise our personnel and the establishment of, and adherence to, high standards relating to personnel performance, food and beverage preparation, entertainment productions and equipment, and maintenance of the facilities. Our current executive officers are capable of overseeing our planned growth over the next year. While staffing levels will vary from property to property, we anticipate our typical restaurant and bar property management staff to be comprised of a general manager, two assistant general managers, a kitchen manager, an assistant kitchen manager, a bar manager, and two assistant bar managers.
Recruiting. We actively recruit and select individuals who share our passion for guest service. Our selection process includes testing and multiple interviews to aid in the selection of new employees, regardless of their
prospective position. We have developed a competitive compensation plan for restaurant and bar management that includes a base salary, bonuses for achieving performance objectives, and incentive stock options. In addition, all employees are entitled to discount meals at any of our restaurants and bars.
Training. We believe that proper training is the key to exceptional guest services. Each new management hire will goes through a 12-week training program that includes cross-training in all management duties. All non-management new hires go through a two-week training program where they learn all of our drink and food offerings, operational procedures and our point-of-sale (POS) computer system.
Management Information Systems (MIS). Each restaurant and bar property is equipped with a variety of integrated management information systems. These systems include an easy-to-use point-of-sale (POS) computer system which facilitates the movement of guest food and beverage orders between the guest areas and bar operations, kitchen operations, controls cash, handles credit card authorizations, keeps track of sales on a per employee basis for incentive awards purposes, and provides on-site and executive level management with revenue and inventory data. Additionally, we are implementing a centralized accounting system that includes a food cost program and a labor scheduling and tracking program. Physical inventories of food and beverage items will be performed on a weekly basis. Furthermore, daily, weekly and monthly financial information is provided to executive level management for analysis and comparison to our budget and to comparable restaurants and bars. By closely monitoring restaurant and bar sales, cost of sales, labor and other cost trends we are better able to control our costs and inventory levels, and identify problems with individual operations, if any, early on.
Secret Shopper. Because we believe exceptional guest services are paramount to our success, we employ a "secret shopper" program to monitor our quality control at all of our restaurants and bars. Secret shoppers are independent persons who test our food, beverage and service as customers without the knowledge of restaurant and bar management or personnel on a periodic basis and report their findings to our executive level management.
Marketing, Advertising and Promotion
Our marketing strategy is aimed at attracting new guests to our restaurants and bars through both traditional and more creative avenues. We focus on building a reputation among local guests (those living within a 20 to 30 mile radius), attracting out-of-towners and tourists, and hosting special events for corporate and special occasion purposes. This is accomplished through:
- pre-opening publicity;
- traditional paid advertising;
- building a community presence; and
- free media exposure.
When opening a new restaurant and bar property, we intend to hire a local public relations firm to assist us in establishing and sustaining our new operation. Such events would include pre-opening parties for local leaders, such as civic and media personalities, and hospitality industry leaders, such as key resort and hotel staff, meeting planners, and convention and visitors bureau representatives.
We then sustain our restaurant and bar awareness through traditional paid advertising outlets which includes radio and television spots, newspaper and magazine ads, billboards, direct mailings, and hotel concierge cards. Additionally, selective media spots will be purchased to advertise well-known headline performance acts when they are scheduled to perform at one of our restaurant and bar locations.
Furthering our promotional activities, we work at establishing relationships with area businesses and residents by participating in high-profile events, festivals and sporting events.
And lastly, one of the most important aspects of our marketing strategy: we strive to generate "word of mouth" referrals. This is accomplished through guests leaving after having an exceptional visit to one of our establishments, through passive advertising from the wearing or use of our clothing and souvenirs sold at some locations, and delivering sample items and free offers to drive-time radio personalities and morning television hosts. The anticipated result will be earning free media exposure and invitations for return engagements such as our pre-opening parties.
While we do not have a fixed budget for marketing, we do not intend to spend more than 3% of revenues on marketing and promotion.
Acquisitions
Premier is also actively seeking additional acquisition prospects that would complement and accelerate its growth. Management's primary focus involving the realm of acquisitions involves seeking and acquiring new and innovative themed restaurant and bar concepts that have one to five operating units. Such concepts and acquisition targets could benefit from having a publicly traded parent company and would be prime candidates for future franchising efforts.
Strategic Alliances and Relationships
In February 2003 Premier entered into a strategic alliance with Stag Financial Group, Inc. Through this strategic alliance Premier and Stag Financial will work together to conceive and fund new restaurant and bar joint venture projects, assist growing Premier's revenue and income streams while enhancing the balance sheet, and create new financing opportunities to address Premier's growth and expansion needs.
Competition
The restaurant and bar industry is intensely competitive. We compete on the basis of taste, quality, price of drinks and food, guest service, location, ambiance, and ultimately, the overall drinking and dining experience of our guests. We compete against many well established competitors with substantially greater financial resources and a longer history of operations than we do. These competitors' resources and market presence may provide them with advantages in marketing, purchasing and negotiating prices and leases. Furthermore, not only do we compete with other restaurants and bars for sites, but we compete with other retail establishments. Changes in consumer tastes, economic conditions, demographic trends and the location and number of, and type of drinks and food served by, competing restaurants and bars could adversely affect our business as could the unavailability of experienced management and hourly employees.
Employees
As of March 31, 2005, we had approximately 63 employees.
None of our employees are covered by collective bargaining agreements, and we have never experienced an organized work stoppage or strike. We believe that our working conditions and compensation packages are competitive and consider relations with our employees to be very good.
Property and Equipment
Through our wholly-owned subsidiary, Players Grille, Inc., a Nevada corporation, we presently lease approximately 6,084 square feet of restaurant/retail space in Orange Park, Florida. In this space we operate our Players Grille Restaurant and Bar, a casual dining, theme-based restaurant.
Through our wholly-owned subsidiary, Countrywide Realty Services, a Nevada corporation, we presently lease approximately 875 square feet of commercial/retail space in Miami Lakes, Florida. In this space we operate our Countrywide subsidiary.
Our Chairman, Treasurer and Secretary, Andrew Jones, provides us with approximately 150 square feet of office space free of charge in an office building he leases in Dallas, Texas. This space is considered our corporate headquarters and is where all administrative oversight occurs. Mr. Jones has no plans to begin charging us rent through the end of fiscal 2005.
Intellectual Property
We currently do not own any trademarks or servicemarks. We do own all of the rights to the brand Players Grille Restaurant and Bar. As we grow and develop additional theme-based concepts, we intend to register their respective trademarks and servicemarks with the United States Patent and Trademark Office and other similar international bureaus.
Government Regulations
Our restaurants and bars are subject to regulation by federal agencies and to licensing and regulation by state and local health, sanitation, building, zoning, safety, fire and other departments relating to the development and operation of restaurants and bars. These regulations include matters relating to environmental, building, construction and zoning requirements and the preparation and sale of food and alcoholic beverages. Our facilities must be licensed and subject to regulation under state and local fire, health and safety codes.
Each of our restaurants and bars are required to obtain a license to sell alcoholic beverages on the premises from a state authority and, in some certain locations, county and/or municipal authorities. Typically, licenses must be renewed annually and may be revoked or suspended for cause at any time. Alcoholic beverage control regulations relate to numerous aspects of the daily operations of each of our restaurants and bars, including the minimum age of patrons and employees, hours of operation, advertising, wholesale purchasing, inventory control and handling, and storage and dispensing of alcoholic beverages. We have not encountered any material problems relating to alcoholic beverage licenses to date. The failure to receive or to retain a liquor license in a particular location could adversely affect that restaurant and bar and our ability to obtain such a license elsewhere.
We may become subject to "dram-shop" statues in various states which we may open or operate a restaurant and bar. These statutes generally provide a person injured by an intoxicated person the right to recover damages from an establishment that wrongfully served alcoholic beverages to the intoxicated individual. We intend to purchase liability insurance for protection against such potential liabilities that is consistent with coverage carried by other competitors in the restaurant and bar industry. However, even with such insurance coverage, a judgment against us under a dram-shop statute in excess of our liability coverage could have a material adverse effect on us.
Our operations are also subject to federal, state and local laws governing such matters as wages, working conditions, citizenship requirements and overtime. Some states have set minimum wage requirements higher than the federal level. Significant numbers of future hourly personnel at our
restaurants and bars will be paid at rates related to the federal or state mandated minimum wage and, accordingly, increases in the minimum wage will increase our labor costs. Other governmental initiatives such as mandated health insurance, if implemented, could adversely affect us as well as the restaurant and bar industry in general. We are also subject to the Americans With Disabilities Act of 1990, which, among other things, may require certain renovations to our future properties to meet federally mandated requirements. The cost of such renovations, if any, is not expected to materially affect us or our operations.
Posted by Naatan on :
wish u guys and gals the best of luck, hope u make the money ur hoping for come monday Posted by TalonSin on :
I saw this on another site:
Additionally, Premier recently entered into a strategic alliance with Stag Financial Group. Through this business alliance Stag Financial will provide Premier with various financial consulting services and assist Premier with utilizing its status as a publicly traded company to conduct occasional registered "spin-offs". Each such spin-off will result in a new stock dividends payable to Premier's loyal shareholders while increasing Premier's net income and enhancing its balance sheet. Premier anticipates conducting two to four such spin-offs each fiscal year. This Strategic Alliance is expected to be accretive to Premier's earnings per share (EPS).
I'm sure most of it is just PR but it shows the company is really thinking about it's shareholders
Posted by andrewAAB on :
muhahahaha!!!!!!! can't wait for next week... Posted by TalonSin on :
PDVN is #4 on Stockprofilers hot list
Posted by andrewAAB on :
man knock it off!! lol one of my picks getting all this goodness??? am I dreaming?? MUHAHAHAHA!!!!!
Posted by andrewAAB on :
2005-05-13 17:37:02 Premier Development & Investment, Inc. Reports Increased First Quarter '05 Results
Restaurant Writers / Business Editors
DALLAS--(BUSINESS WIRE)--May 13, 2005-- Premier Development & Investment, Inc. (OTC Bulletin Board: PDVN), in releasing its financial results for the quarter ended March 31, 2005, announces that its revenue performance improved compared to the equivalent period in the prior year. Consolidated revenues for the first quarter of 2005 were $347,616, representing a $339,616 increase from the prior year revenues of $8,000. A net loss of $33,525 for this period compared to a net Loss of $7,930 in the first quarter of 2004. Commenting on the results, Eric Boyer, President and Chief Executive Officer, said, "We are very pleased to report this substantial increase in operating revenue over the prior year's results. The $27,195 increase in operating loss is primarily attributable to $36,616 in depreciation expenses that did not exist a year ago. In the area of liquidity and capital resources, over the past year we have worked diligently at improving our balance sheet and increased our assets and have seen improvement in our asset to liability ratios, all in an effort to deliver improved return on assets for our shareholders" Full details regarding the Company's performance and financial data for Q1 '05 can be found in the 10-QSB report, which was filed today with the Securities and Exchange Commission. A link can be found on the Company's website: http://www.premierdev.com/InvestorRelations under the tab, SEC Filings.
About Premier
Premier Development & Investment, Inc. is a publicly held developer and operator of theme-based restaurant and bar concepts. These concepts are developed internally and through partnerships with other restaurant developers with the intent of building them into full-fledged chains and franchise opportunities. Premier owns and operates the Player's Grille Restaurant and Bar(TM), a casual dining sports themed concept based in Florida. Premier Realty Holdings, Inc., a wholly owned subsidiary, operates Countrywide Realty Services, http://www.cw-realty.com , a full service commercial and residential listing brokerage firm specializing in selling, buying, or leasing properties and providing a full range of real estate services to the greater Miami and Southeastern Florida marketplace. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Premier Development & Investment, Inc.) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the restaurant industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and prospective dealings and joint venture projects. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Premier. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and changes in federal or state tax laws. For a description of additional risks and uncertainties, please refer to Premier's filings with the Securities and Exchange Commission.
KEYWORD: NORTH AMERICA TEXAS UNITED STATES INDUSTRY KEYWORD: RETAIL RESTAURANT EARNINGS SOURCE: Premier Development & Investment, Inc.
CONTACT INFORMATION: Premier Development & Investment, Inc. Investor Relations, 954-447-9268 ir@premierdev.com www.premierdev.com Posted by andrewAAB on :
U. S. Securities and Exchange Commission Washington, D. C. 20549
FORM 10-QSB
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2005
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to -------------- ------------------
Commission File No. 000-33005
PREMIER DEVELOPMENT & INVESTMENT, INC. ----------------------------------------------------- (Exact name of Registrant as specified in its charter)
NEVADA 52-2312117 ------------------------------- ------------------- (State or other jurisdiction of (IRS Employer Incorporation or Organization) Identification No.)
7475 Skillman, Suite C-102 Dallas, Texas 75231 --------------------------------------------------------------- (Address of Principal Executive offices)
Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15 (d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes X No ------- -------
State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date:
Class Outstanding at May 11, 2005 ----- ---------------------------
Common Stock, Class A, $0.00002 par value 68,424,069
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Transitional Small Business Disclosure Form (check one):
PREMIER DEVELOPMENT & INVESTMENT, INC. CONSOLIDATED BALANCE SHEET
March 31, December 31, 2005 2004 (unaudited) (audited) ----------- ------------ ASSETS
Current assets: Cash and cash equivalents $122,459 $146,934 Marketable securities 5,000 5,000 Due from affiliate 2,508 2,508 Inventory 23,275 20,279 Prepaid expenses 15,501 16,244 Promissory note 220,000 250,000 Other 2,341 - ---------- ---------- Total current assets $391,084 $440,965 ---------- ---------- Other assets: Equipment and leasehold improvements $558,016 $551,696 Less accumulated depreciation (98,567) (61,951) ---------- ---------- 459,449 489,745
Goodwill 868,586 868,586 Other - 4,149 ---------- ---------- Total assets $1,719,119 $1,803,445 ========== ==========
LIABILITIES
Current liabilities: Accounts payable $1,500 $2,571 Deferred tax 29,077 29,077 Promissory note 111,043 111,043 Due to affiliated companies controlled by a shareholder - 20,000 ---------- ---------- Total current liabilities $141,620 $162,691 ---------- ----------
Promissory note 64,427 -
Total liabilities $206,047 $162,691 ========== ========== Stockholders' equity: Common stock, class A, $0.00002 par value 1,250,000,000 authorized; 68,424,069 and 68,424,069 shares issued and outstanding, respectively $ 1,368 $ 1,368 Common stock, class B, $0.001 par value 10,000,000 authorized; -0- and -0- shares issued and outstanding, respectively - - Preferred stock, $0.001 par value 20,000,000 authorized; -0- and -0- shares issued and outstanding, respectively - - Additional paid in capital 1,526,208 1,526,209 Accumulated earnings (deficit) (14,504) 19,021 ---------- ---------- 1,513,072 1,546,598
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $1,719,119 $1,803,445 ========== ==========
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PREMIER DEVELOPMENT & INVESTMENT, INC. CONSOLIDATED STATEMENT OF OPERATIONS (unaudited)
General and administrative expenses 219,317 14,330 -------- -------- Gain (Loss) on operations (33,525) (6,330) ======== ======== Other income (expense) - (1,600)
Net income (loss) (33,525) (7,930) ======== ========
(Loss) per common share
Basic NIL NIL ========= =========
Fully diluted NIL NIL ========= ========= Weighted average number of shares Basic 68,424,069 77,411,306
Fully diluted 72,924,069 89,411,306
</TABLE>
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PREMIER DEVELOPMENT & INVESTMENT, INC. CONSOLIDATED STATEMENT OF CASH FLOWS (unaudited)
<TABLE> <CAPTION> 3-months 3-months Ended Ended 3/31/05 3/31/04 ------------- ------------- <S> <C> <C> Cash flows from operating activities: Net (loss) earnings ($33,525) ($7,930) Adjustments to reconcile net (loss) to cash provided by (used) in operating activities:
Depreciation 36,616 - Equity in (earnings) loss of investee - 1,600 Retirement of debt - (5,000) Donated services of officers - 1,200 Donated services of affiliates - 4,000 Increase in payables - - Increase in receivables - - Decrease in prepaid expenses 743 - (Increase) in inventory (2,996) - (Increase) in other (2,341) - Decrease in other assets 4,149 - (Decrease) in accounts payable (1,072) - (Decrease) in due to affiliate (20,000) - -------- -------- Total adjustments 15,099 1,800 -------- -------- Net cash provided by (used) in operations ($18,426) ($6,130) -------- -------- CASH FLOWS PROVIDED BY INVESTING ACTIVITIES Purchase of equipment and leasehold improvements (6,319) - Proceeds from promissory note receivable 30,000 - -------- -------- Net cash provided by (used) by investing activities $23,681 -
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES Stock subscriptions received - 28,004 Repayment of promissory note payable (29,730) -
Net increase (decrease) in cash ($24,474) $31,874
Cash at beginning of the period 146,934 33 -------- -------- Cash at end of the period $122,459 $ 21,907 ======== ======== </TABLE>
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PREMIER DEVELOPMENT & INVESTMENT, INC. CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY MARCH 29, 2001 (INCEPTION) TO MARCH 31,2005 (UNAUDITED)
<TABLE> <CAPTION> DEFICIT ACCUMULATED COMMON STOCK PREFERRED STOCK DURING THE CLASS A CLASS A PAID-IN DEVELOPMENT SHARES AMOUNT SHARES AMOUNT CAPITAL STAGE TOTAL ---------- -------- ---------- -------- ------- ------------ ---------- <S> <C> <C> <C> <C> <C> <C> <C> BALANCE, MARCH 29, 2001 (INCEPTION) $ - $ - $ - $ - $ - $ - $ -
Issuance of common stock to directors for services 1,500,000 1,500 1,500
Issuance of common stock to consultants for services 1,250,000 1,250 1,250
Issuance of common stock in connection with acquisition of marketable securities 350,000 350 23,090 23,440
Issuance of common stock in connection with the joint venture 1,000,000 1,000 59,000 60,000
Issuance of common stock in connection with exercise of stock options 1,250,000 1,250 61,250 62,500
Donated services by officers - - 7,200 7,200
Net loss during period - - - - - (17,103) (17,103) ---------- -------- ---------- -------- ------- ------------ ---------- BALANCE AT DECEMBER 31, 2001 (AUDITED) 5,350,000 $ 5,350 - $ - $150,540 $(17,103) $ 138,787 ========== ======== ========== ======== ======= ============ ==========
Donated services by officers - - 4,800 4,800
Net loss during period - - - - - (37,639) (37,639) ---------- -------- ---------- -------- ------- ------------ ---------- BALANCE AT DECEMBER 31, 2002 (AUDITED) 5,350,000 $ 5,350 - $ - $155,340 $(54,742) $ 105,948 ========== ======== ========== ======== ======= ============ ==========
Issuance of common stock for cash 687,500 12 - - 449,988 - 450,000
Issuance of common stock for acquisition of Players Grille 197,368 8 - - 449,992 - 450,000
Issuance of common stock for acquisition of Netex d/b/a Countrywide Realty 400,000 8 - - 431,992 - 432,000
Net income during year - - - - - 116,389 116,389 ---------- -------- ---------- -------- ------- ------------ ---------- BALANCE AT DECEMBER 31, 2004 68,424,069 $ 1,368 - $ - $1,526,208 $19,021 $1,546,597 ========== ======== ========== ======== ======= ============ ==========
Net loss during period - - - - - (33,525) (33,525) ---------- -------- ---------- -------- ------- ------------ ---------- BALANCE AT MARCH 31, 2005 (UNAUDITED) 68,424,069 $ 1,368 - $ -$1,526,208 ($14,504) $1,513,072 ========== ======== ========== ======== ======= ============ ==========
</TABLE>
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PREMIER DEVELOPMENT & INVESTMENT, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2005 (UNAUDITED)
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of Operations --------------------
Premier Development & Investment, Inc., ("Premier") a Nevada corporation organized on March 29, 2001, is a development stage company, and as such has devoted most of its efforts since inception to developing its business plan, issuing common stock, raising capital, establishing its accounting systems and other administrative functions.
Premier's strategy is to be a developer and operator of theme based restaurants and bars.
The interim financial statements are unaudited and reflect all adjustments (consisting only of normal recurring adjustments) which are, in the opinion of management, necessary for a fair presentation of the financial position and operating results for the interim periods. The results of operations for the three-months ended March 31, 2005 are not necessarily indicative of the results for the entire fiscal year. The financial statements included herein are presented in accordance with the requirements of Form 10-QSB and consequently do not include all of the disclosures normally made in the registrant's annual Form 10-KSB filing. These financial statements should be read in conjunction the with audited financial statements and notes thereto contained in the Company's Annual Report for the fiscal year ended on December 31, 2004 filed on Form 10-KSB on April 7, 2005.
Consolidation -------------
The consolidated financial statements include the accounts and balances of Premier, and its two wholly owned subsidiaries, Player's Grille ("Player's") and Netex d/b/a Countrywide Realty Services, Inc. ("Countrywide"), (collectively, the "Company"). All significant intercompany accounts and transactions have been eliminated in the consolidating process.
Going Concern -------------
The Company's financial statements are prepared using generally accepted accounting principles applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has incurred an overall net loss from its inception on March 29, 2001 through March 31, 2005. The Company does not have an established source of revenue sufficient to cover its operating costs and, accordingly, there is substantial doubt about its ability to continue as a going concern.
In order to develop an established source of revenues, and achieve a profitable level of operations, the Company will need, among other things, additional capital resources. Management has formulated a plan to raise additional funding though private equity sales, providing consulting services, expanding upon its Players Grille concept, acquiring existing and profitable restaurant concepts, forming new joint venture projects, and continued contributions from the
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executive officers and members of the Board of Directors. All together these events should allow the Company to meet its forecasted working capital and capital expenditures for the next 12 months of operations. However, Management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.
The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plan described in the preceding paragraph and eventually attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.
Marketable Securities ---------------------
Premier's security investments that were acquired in conjunction with the issuance of its common stock are held principally for the purpose of selling them in the near-term and are classified as trading securities. Trading securities are recorded at fair value on the balance sheet in current assets, with the change in fair value during the period included in operations.
Investment in Investee ----------------------
Premier issued 50,000,000 (adjusted for a 50-for-1 forward stock split effected April 11, 2003) shares of its Class A voting common stock for a 20% interest in Coconut Grove Group, Ltd. This investment is accounted for using the equity method which is cost, as adjusted for Premier's proportionate share of undistributed earnings or losses as Premier can exercise significant influence over the financial and operating activities of Coconut Grove Group, Ltd. This investment was sold in fiscal 2004.
Equipment and Leasehold Improvements ------------------------------------
Equipment and leasehold improvements are stated at cost and includes expenditures, which substantially increase the useful lives of existing assets. Maintenance and repairs are charged to operations when incurred.
Depreciation of equipment and leasehold improvements is calculated using the straight-line method based on the respective assets estimated useful lives as follows:
Furniture & equipment 7 years Leasehold improvements 5 years
Depreciation expense for the year ended December 31, 2004 was $61,951.
Goodwill --------
The Company records its investment in goodwill in accordance with Financial Accounting Standards Board Statement No. 142 "Goodwill and Other Intangible Assets". Under this principle goodwill is not amortized, it is however tested for impairment at least on an annual basis. As of March 31, 2005, the goodwill recorded was found not to be impaired.
Concentration of Credit Risk ----------------------------
Financial instruments, which subject the Company to credit risk, consist primarily of cash and cash equivalents arising from its normal business activities. The Company places its cash in what it believes to be credit-worthy
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financial institutions, however, cash balances have exceeded the FDIC insured levels at various times during the year.
Use of Estimates ----------------
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Income Taxes ------------
Premier records its federal and state tax liability in accordance with Financial Accounting Standards Board Statement No. 109 "Accounting for Income Taxes". The deferred taxes payable are recorded for temporary differences between the recognition of income and expenses for tax and financial reporting purposes, using current tax rates. Deferred liabilities represent the future tax consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled.
Earnings per Share ------------------
On March 3, 1997, the Financial Accounting Standards Board issued Statement of Financial Accounting Standard No. 128, "Earnings Per Share", which provides for the calculation of Basic and Diluted earnings per share. Basic earnings per share includes no dilution and is computed by dividing income or loss available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution of securities that could share in the earnings of the entity.
Premier adopted this pronouncement during the period and as such reported the basic earnings per share, based on the weighted average number of shares outstanding, and the fully diluted earnings per share as though all shares of Class A common stock issuable by Premier were outstanding, which includes 4,500,000 options to purchase common stock.
Advertising Costs -----------------
Premier expenses the production costs of advertising the first time the advertising takes place.
Fiscal Year -----------
The Company elected December 31 as its fiscal year end.
NOTE B - ACQUISITIONS
On July 29, 2004 Premier acquired Netex d/b/a Countrywide Realty Services, Inc. (Countrywide). Countrywide is engaged in the mortgage broker business. The results of operations of Countrywide are included in the accompanying financial statements since the date of acquisition. Premier issued 400,000 of its $.00002 par value common stock valued at $432,000 in connection with this acquisition. The total cost of the acquisition exceeded the fair value of the net assets of Countrywide by $432,000. This excess is being recorded as goodwill.
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On August 1, 2004 Premier acquired Players Grille, Inc. (Players). Players is engaged in the casual dining sports bar business. The results of operations of Players are included in the accompanying financial statements since the date of acquisition. Premier paid $325,000 in cash, issued a 5% promissory note in the amount of $225,000 and issued 394,736 of its $.00002 par value common stock valued at $450,000 in connection with this acquisition. The promissory note requires principal payments of $111,043 and $94,157 in 2005 and 2006, respectively. Of the common shares issued in this acquisition 197,368 shares are Rule 144 restricted common shares. The total cost of the acquisition exceeded the fair value of the net assets of Players by $436,586. This excess is being recorded as goodwill.
NOTE C - STOCK REGISTRATION
Premier has filed a registration statement with the Securities and Exchange Commission which was declared effective November 13, 2001, to register 6,735,000 shares of its $.001 par value Class A voting common stock on behalf of its stockholders'. In connection with the selling stockholders' registration and the incremental difference between the option and warrant exercise price compared to recent issuances of Premier's common stock, any offering costs (consisting of legal, accounting and filing fees) will be expensed as the benefit to the selling stockholders' and the incremental difference between the option and warrant exercise price compared to recent issuances of Premier's common stock do not allow the capitalization of such costs.
NOTE D - STOCK, WARRANT AND OPTION ISSUANCES
On March 29, 2001, 500,000 shares of Premier's $.001 par value Class A voting common stock and an option to purchase 250,000 shares of Premier's Class A voting common stock at a purchase price of five cents ($0.05) per share was issued to each director as compensation, in lieu of cash, for services. The stock was issued under the provisions of Rule 144 of the Securities Act of 1933, as amended. The options vest immediately and expire on the fifth anniversary of the date of their issuance.
On March 29, 2001, 250,000 shares of Premier's $.001 par value Class A voting common stock and an option to purchase 250,000 shares of Premier's Class A voting common stock at a purchase price of five cents ($0.05) per share was issued to an unrelated entity for consulting services. The stock was issued under the provisions of Rule 144 of the Securities Act of 1933, as amended. The options vest immediately and expire on the fifth anniversary of the date of their issuance.
In addition, this entity was granted 500,000 warrants to purchase the same number of Premier's $.001 par value Class A voting common stock at a purchase price of four dollars ($4.00) per share. The warrants expired on December 31, 2003.
On March 29, 2001, 250,000 options to purchase the same number of Premier's $.001 par value Class A voting common stock at a purchase price of five cents ($0.05) per share was issued to an unrelated entity to develop an investor relations program. The options vest immediately and expire on the fifth anniversary of the date of their issuance.
On March 29, 2001, 1,000,000 shares of Premier's $.001 par value Class A voting common stock was issued to several unrelated entities for consulting services provided to Premier. The stock was issued under the provisions of Rule 144 of the Securities Act of 1933, as amended.
On March 31, 2001, 350,000 shares of Premier's $.001 par value Class A voting common stock and 500,000 warrants to purchase the same number of Premier's $.001 par value Class A voting common stock at a purchase price of four dollars ($4.00) per share were issued in conjunction with the acquisition of 50,000 shares of Inform Worldwide Holdings, Inc.(OTC "IWWH") from two separate
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unrelated entities under a stock purchase agreement. The stock was issued under the provisions of Rule 144 of the Securities Act of 1933, as amended. The warrants, which may be redeemed by Premier under certain restrictions, expired on December 31, 2003.
On May 15, 2001, 15,000 options to purchase the same number of Premier's .001 par value Class A voting common stock at a purchase price of two dollars ($2.00) per share were issued to each member of the nine person advisory board to assist Premier on specific matters as they related to the individual board members expertise. The options vest immediately and expire on the third anniversary of the date of their issuance.
On May 15, 2001 Premier issued 2,000,000 warrants in the form of a stock dividend to all shareholders of record on May 15, 2001. The warrants would be divided equally based upon the number of Class A shares held. Each warrant is exercisable into a share of the Company's Class A voting common stock at a price of four dollars ($4.00) per share. The warrants, which may be redeemed by Premier under certain restrictions, expired on December 31, 2003.
In conjunction with all of the above outstanding issues of Premiers' $.001 par value Class A voting common stock, it was agreed that all insiders of Premier, including, but not limited to, officers, directors, and employees, shall enter into a binding Stock Lock-Up Agreement preventing the sale of any Class A voting common stock of Premier for a minimum of one-hundred eighty (180) days after the date that Premier's Class A voting common stock makes its first trade on the OTC Bulletin Board.
On July 30, 2001, 1,000,000 shares of Premier's $.001 par value Class A voting common shares were issued in conjunction with receiving a 20% interest in Coconut Grove Group, Ltd (the "Venture"). The stock was issued under the provisions of Rule 144 of the Securities Act of 1933. Premier will be involved in the day-to-day activities of the Venture, and will receive a quarterly fee equal to the greater of 1.5% of the Venture's net profits or $5,000. Profits will be allocated based upon ownership interests after withholding 35% for growth and expansion. Losses will be allocated and owing based upon ownership interest.
On November 30, 2001, owners of 750,000 of the $.05 stock options exercised the options. In connection with the exercise of the options, Premier was issued promissory notes in the amount of $36,000 in lieu of cash. In addition, owners of 500,000 of the $.05 stock options exercised the options. In connection with the exercise of these options, the entities elected to remit payment for some goods and services received by Premier in lieu of payment of cash to Premier. In both instances, the amount of non-cash payment to Premier is shown as a reduction in stockholder's equity as common stock subscribed.
On April 12, 2002, Premier issued an aggregate of 45,000 options (15,000 to each member of its three person Board of Directors) to purchase shares of Premier's Class A voting common stock at a purchase price of three-dollars ($3.00) per share. These options, issued to each director and officer as compensation, in lieu of cash, for services, were "out-of-the-money" when issued and therefore were recorded as having no value at the time of issue. The options vested immediately and expire on the fifth anniversary of the date of their issuance.
On April 20, 2004, Premier issued 500,000 shares of its $.00002 par value restricted common stock for cash in the amount of $350,000.
On September 30, 2004, Premier issued 137,500 shares of its $.00002 par value common stock for cash in the amount of $100,000
NOTE E - RELATED PARTY TRANSACTIONS
Andrew Jones, our Treasurer and Secretary, currently provides us with approximately 150 square feet of office space free of charge in an office
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building he leases in Dallas, Texas. Mr. Jones has no plans to begin charging us rent during the current fiscal year for the usage of this space.
NOTE F - DONATED SERVICES
For the three-months ended March 31, 2005, Eric R. Boyer, Premier's President and Chief Executive Officer, performed services on behalf of Premier with a fair market value of $600 and Andrew Jones, Premier's Secretary and Treasurer, performed services on behalf of Premier with a fair value of $600.
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Item 2. Management's Discussion and Analysis or Plan of Operation
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and related notes appearing elsewhere in this quarterly report. This discussion and analysis contains forward-looking statements that involve risks, uncertainties and assumptions. When used in this document, the words "anticipate", "believe", "estimate", "expect" and "intend" and similar expressions, as they relate to us, are intended to identify forward-looking statements. Such statements reflect our current view(s) regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or intended. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein.
Overview
We are a developer and operator of theme-based restaurants and bars, including our wholly owned subsidiary, Players Grille, Inc.
Results of Operations
For the ease of reference, we refer to the three-months ended March 31, 2005 as the quarter ended March 31, 2005 and the period of three-months ended March 31, 2004 as the quarter ended March 31, 2004. We reference the current fiscal year which ends on December 31, 2005 as fiscal 2005.
Revenues
For the quarter ended March 31, 2005, revenues increased $339,616, or 4,245.2%, to $347,616 compared to $8,000 for the quarter ended March 31, 2004. These revenues were generated from the operation of our two wholly owned subsidiaries, Players Grille, Inc. and Countrywide Realty Services, Inc
We anticipate our quarterly revenues will continue increasing significantly throughout fiscal 2005. These projected increases are anticipated to the continued operations and planned expansions at our wholly owned subsidiaries, especially our Players Grille operations.
Gross Profit
For the quarter ended March 31, 2005, our gross profit totaled $185,792 compared to $8,000 for the year ago period. This $177,792, or 2,222.4%, increase in gross profit was attributable to higher sales.
Cost of good sold during the quarter ended March 31, 2005 was $161,824 compared to $-0- for the same period a year ago. The sharp increase in cost of goods sold was the result of our operations at our wholly owned subsidiary Players Grille, Inc. compared to no similar ongoing operations during the quarter ended March 31, 2004.
Expenses
Operating Expenses. Our operating expenses consist primarily of personnel expenses, depreciation expenses, professional fees, consulting fees and marketing expenses. These expenses totaled $219,317 for the quarter ended March 31, 2005, which was an increase of $204,987, or 1,430.4%, compared to $14,330
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for the quarter ended March 31, 2004. The large increase was attributable primarily to operating our Players Grille, Inc. and Countrywide Realty Services, Inc. wholly owned subsidiaries.
Operating Loss
Our operating loss for the quarter ended March 31, 2005 was ($33,525) compared to an operating loss of ($6,330) for the quarter ended March 31, 2004. The $27,195, or 429.6%, increase in operating loss is primarily attributable to $36,616 in depreciation expenses that did not exist a year ago.
Other Income (Expenses)
We recorded expenses of $-0- and ($1,600) for the quarters ended March 31, 2005 and March 31, 2004, respectively. These expenses were to write-down the decline in value associated with our ownership in the Coconut Grove Group, Ltd. joint venture project. We sold our interest in Coconut Grove during the fiscal year ended December 31, 2004 and accounted for our ownership using the equity method of accounting. Our write-downs reflected our 20% ownership in the joint venture project.
Net Loss
Our net loss for the quarter ended March 31, 2005 was ($33,525) compared to a net loss of ($7,930) for the quarter ended March 31, 2004. This $25,595, or 322.8%, increase is primarily attributable to $36,616 in depreciation expenses that did not exist a year ago.
Liquidity and Capital Resources
Since our inception on March 29, 2001, we have financed our operating activities through private offerings of our equity securities and the personal contributions of our executive officers.
As of March 31, 2005, we had current assets aggregating $391,084, comprised of $122,459 in cash or cash equivalents, marketable securities valued at $5,000, a note receivable of $2,508, inventory of $23,275, prepaid expenses of $15,501, a promissory note payable to us of $220,000, and other consisting of $2,341.
As of March 31, 2005 we had other assets consisting of a $558,016 in equipment and leasehold improvements, less accumulated depreciation of ($98,567), and goodwill of $868,586.
As of March 31, 2005, we had current liabilities aggregating $141,620, comprised of accounts payable of $1,500, deferred tax liabilities of $29,077, and a promissory note payable by us of $111,043. We also had a long-term promissory note payable by us valued at $64,427. We do not anticipate taking on any material financial obligations or commitments that are not commensurate with increases in revenues and gross subsequent profits.
As of March 31, 2005 we had basic and fully diluted weighted average shares outstanding of 68,424,069 and 72,924,069, respectively. These represent declines of (8,987,237), or (11.6%), and (16,487,237), or (18.4%), respectively, from the quarter ended March 31, 2004. Management is continuing to explore additional methods, including additional share retirements and potential buybacks, to further reduce the number of shares issued and outstanding.
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Our Business
Overview
We are a holding company involved in the development and operation of theme-based restaurant and bar properties. We were incorporated in the state of Nevada on March 29, 2001 and just commenced full-scale operations on August 1, 2004.
Our Business Strategy
Our objective is to develop - either internally or through joint ventures and other similar partnership agreements - theme-based restaurant and bar concepts that may be expanded into full-fledged chains or franchise opportunities. By co-developing restaurant and bar properties in this manner we will be able to:
- reduce our financial risk by sharing in the development and marketing costs typically associated with opening new restaurants and bars;
- generate secondary or alternative revenue streams by providing professional restaurant and bar management consulting services through the collective expertise of our diverse management team; and
- better diversify our restaurant and bar portfolio to minimize our risk exposure to any single operation or concept.
To achieve our objectives, we have developed the following focal points and strategies we anticipate implementing in our future ventures:
Create a Fun, Energetic, Destination Drinking and Dining Experience. We wish to create and promote a fun, irreverent and socially interactive atmosphere. We intend to accomplish this by utilizing unique restaurant and bar layouts, featuring both well-known and up-and-coming live entertainment performers, including local and nationally known acts, and generating a festive atmosphere which should make our restaurants and bars fun and entertaining to our guests. We believe that if we are successful at achieving this goal, that customers will seek out our restaurants and bars for a wide variety of drinking and dining occasions, including weekend evenings, business occasions, social get-togethers with friends and family members, and regular after-work happy hours and weeknight dining.
Distinctive Theme-Based Concepts. With each restaurant and bar venture we participate in we wish to create a unique theme-based experience for our guests centered around our full bar service, dining offerings and daily entertainment. The theme will be carried throughout our guests' entire visit and will involve all aspects of the experience, including the exterior design of the building, interior layout and decorum, employee greetings and uniforms, specialty drinks and menu items, and souvenirs unique to that particular theme.
Comfortable Adult Atmosphere. Each restaurant and bar that we open will be primarily adult orientated. While children will be welcomed during daytime hours as long as they are accompanied by a responsible adult at all times during their visit, no one under 21 years of age (or the minimum legal drinking age as established by statute) will be allowed into our properties after 10pm local time. We believe that this policy will help maintain a fun and relaxed atmosphere that appeals to adult guests, and will help attract groups such as private parties and business organizations.
High Standard of Guest Service. We intend to foster a passionate culture of guest service among our employees, ranging from the general manager to the greeters, through intense training, constant monitoring and emphasizing consideration of our guests first and foremost in all decisions. From the
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moment a guest walks into the front door, we want our guests to experience a high level of guest service provided by a knowledgeable, energetic staff. Bar tenders will be required to be able to free pour simultaneously from multiple liquor bottles and perform "flare" techniques (flipping, tossing and twirling of liquor bottles) for our guests' entertainment; greeters and servers will be required to introduce guests to the theme-based concept, explain the drink and entree menus, and generally set the stage for a fun and unique experience for them at our theme-based restaurant and bar.
Pursue Disciplined Restaurant and bar Growth. Our management team intends to grow our company through consistent, disciplined expansion of our theme-based restaurants and bars. Through disciplined growth we will be able to better monitor new restaurant and bar openings and make sure that our guests have a positive experience and leave wanting to return again soon.
Provide Superior Drinking and Dining Value. We believe that our theme-based restaurants and bars should provide our guests with interesting, high quality drinks and entrees. Each theme-based restaurant and bar will serve a unique variety of original drinks, some available in take home souvenir glasses, and generously portioned original entrees - each designed to perpetuate and immerse the guest in the restaurant and bar's theme concept. It is our goal to generate a US$25 average check per guest, inclusive of food and drinks.
Our Industry Overview
In the United States, consumers are drinking and eating at restaurants and bars at ever increasing rates. According to the National Restaurant Association, the restaurant industry is expected to generate approximately $440.1 billion in sales during the course of 2004. This is up about 4.4% over 2003, which would comprise approximately 4% of the United States' Gross Domestic Product (GDP).
The restaurant industry is comprised of four basic segments: fast food, mid-scale, casual dining and fine dining. The industry itself is highly fragmented by the presence of thousands of independent "mom and pop" operators and small chains. We estimate that chain stores control approximately 61% of the fast food segment while controlling only about 22% of the other three segments combined. As such, we believe that operators of strong concepts, including our theme-based concepts, should be able to continue increasing their overall market share, especially in the casual dining segment.
Casual dining is the fastest growing segment of the restaurant industry. According to the National Restaurant Association, sales in this segment increased at a 6.9% annual compound growth rate throughout the 1990s, and are estimated at $44 billion annually. We believe that this segment of the restaurant industry will continue to benefit from current demographic trends, most notably a maturing baby-boomer population. The baby-boomers, or adults aged 37-55, tend to eat out more than the generations before them. Should this demographic trend continue, as they age so might their frequency for eating out. Another growing trend that we believe will contribute to further increases in casual dining is the two-income family, which may lead to more discretionary income but less discretionary time for cooking and cleaning at home.
In addition to consumers eating out more frequently, they are also drinking more than ever outside of their homes. According to Adams Business Media, a market research group, alcohol sales at restaurants and bars topped $61 billion in 2000, an all-time high. We believe this is statistically important because most drinks are typically marked up between 500% to 800%, which is about double the typical drink markup only four years ago. Should this trend continue, and we believe it will, sales of alcohol may become an increasingly more significant contributor to our overall sales and, possibly, the most significant contributing factor to our net income.
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Players Grille Restaurant and Bar
On August 1, 2004 we acquired Players Grille Restaurant and Bar - Fleming Island located in Jacksonville, Florida. The purchase price was one-million dollars (US$1,000,000) and was comprised of $325,000 in cash and the issuance of
197,368 shares of common stock, 197,368 shares of Rule 144 restricted common stock, and a two-year $225,000 promissory note bearing simple 5% interest payable in eight equal quarterly payments.
Players Grille is a theme-based casual dining sports bar. As part of the purchase we acquired all ownership and rights to the brand name and concept as well as the right of first refusal to purchase the original location, also located in the Jacksonville area.
Premier intends to open up to two new Players Grille locations within the Jacksonville area during the course of fiscal 2005. We also plan on introducing a franchising program for Players Grille during the second half of fiscal 2005.
Countrywide Realty Services
On August 1, 2004 we acquired Countrywide Realty Services located in Miami Lakes, Florida. The aggregate purchase price consisted of five hundred thousand (500,000) shares of Premier Development & Investment, Inc. common stock, of which eighty percent (80%) was restricted under Rule 144 and twenty percent (20%) was free-trading but relegated to a leak out agreement. Up to an additional five hundred thousand shares (500,000) of the Premier's common stock may be earned based on meeting certain revenue and profit targets.
Coconut Grove Group, Ltd. Joint Venture
On July 30, 2001, we entered into a joint venture agreement with Tiki Hut Enterprises, Ltd. ("Tiki Hut"), a private developer of restaurants and bars, for the formation of Coconut Grove Group, Ltd. ("CG Group").
Under the terms of the joint venture agreement, CG Group was initially capitalized with a US$3,000,000 cash investment commitment from Tiki Hut and an investment by us of 1,000,000 restricted shares of our common stock which were valued at US$60,000. The investment provided us with a 20% interest in CG Group and was recorded on our balance sheet using the equity method of accounting.
On December 22, 2004 we sold our 20% interest to a private investor for US$250,000. This resulted in a one-time gain for us. We are no longer associated with the CG Group venture.
Operations and Management
Our ability to effectively manage an operation, including high volume restaurants and bars, some with live entertainment offerings, is critical to our overall success. In order to maintain quality and consistency at each of our restaurant and bar properties we must carefully train and properly supervise our personnel and the establishment of, and adherence to, high standards relating to personnel performance, food and beverage preparation, entertainment productions and equipment, and maintenance of the facilities. Our current executive officers are capable of overseeing our planned growth over the next year. While staffing levels will vary from property to property, we anticipate our typical restaurant and bar property management staff to be comprised of a general manager, two assistant general managers, a kitchen manager, an assistant kitchen manager, a bar manager, and two assistant bar managers.
Recruiting. We actively recruit and select individuals who share our passion for guest service. Our selection process includes testing and multiple interviews to aid in the selection of new employees, regardless of their
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prospective position. We have developed a competitive compensation plan for restaurant and bar management that includes a base salary, bonuses for achieving performance objectives, and incentive stock options. In addition, all employees are entitled to discount meals at any of our restaurants and bars.
Training. We believe that proper training is the key to exceptional guest services. Each new management hire will goes through a 12-week training program that includes cross-training in all management duties. All non-management new hires go through a two-week training program where they learn all of our drink and food offerings, operational procedures and our point-of-sale (POS) computer system.
Management Information Systems (MIS). Each restaurant and bar property is equipped with a variety of integrated management information systems. These systems include an easy-to-use point-of-sale (POS) computer system which facilitates the movement of guest food and beverage orders between the guest areas and bar operations, kitchen operations, controls cash, handles credit card authorizations, keeps track of sales on a per employee basis for incentive awards purposes, and provides on-site and executive level management with revenue and inventory data. Additionally, we are implementing a centralized accounting system that includes a food cost program and a labor scheduling and tracking program. Physical inventories of food and beverage items will be performed on a weekly basis. Furthermore, daily, weekly and monthly financial information is provided to executive level management for analysis and comparison to our budget and to comparable restaurants and bars. By closely monitoring restaurant and bar sales, cost of sales, labor and other cost trends we are better able to control our costs and inventory levels, and identify problems with individual operations, if any, early on.
Secret Shopper. Because we believe exceptional guest services are paramount to our success, we employ a "secret shopper" program to monitor our quality control at all of our restaurants and bars. Secret shoppers are independent persons who test our food, beverage and service as customers without the knowledge of restaurant and bar management or personnel on a periodic basis and report their findings to our executive level management.
Marketing, Advertising and Promotion
Our marketing strategy is aimed at attracting new guests to our restaurants and bars through both traditional and more creative avenues. We focus on building a reputation among local guests (those living within a 20 to 30 mile radius), attracting out-of-towners and tourists, and hosting special events for corporate and special occasion purposes. This is accomplished through:
- pre-opening publicity;
- traditional paid advertising;
- building a community presence; and
- free media exposure.
When opening a new restaurant and bar property, we intend to hire a local public relations firm to assist us in establishing and sustaining our new operation. Such events would include pre-opening parties for local leaders, such as civic and media personalities, and hospitality industry leaders, such as key resort and hotel staff, meeting planners, and convention and visitors bureau representatives.
We then sustain our restaurant and bar awareness through traditional paid advertising outlets which includes radio and television spots, newspaper and magazine ads, billboards, direct mailings, and hotel concierge cards. Additionally, selective media spots will be purchased to advertise well-known headline performance acts when they are scheduled to perform at one of our restaurant and bar locations.
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Furthering our promotional activities, we work at establishing relationships with area businesses and residents by participating in high-profile events, festivals and sporting events.
And lastly, one of the most important aspects of our marketing strategy: we strive to generate "word of mouth" referrals. This is accomplished through guests leaving after having an exceptional visit to one of our establishments, through passive advertising from the wearing or use of our clothing and souvenirs sold at some locations, and delivering sample items and free offers to drive-time radio personalities and morning television hosts. The anticipated result will be earning free media exposure and invitations for return engagements such as our pre-opening parties.
While we do not have a fixed budget for marketing, we do not intend to spend more than 3% of revenues on marketing and promotion.
Acquisitions
Premier is also actively seeking additional acquisition prospects that would complement and accelerate its growth. Management's primary focus involving the realm of acquisitions involves seeking and acquiring new and innovative themed restaurant and bar concepts that have one to five operating units. Such concepts and acquisition targets could benefit from having a publicly traded parent company and would be prime candidates for future franchising efforts.
Strategic Alliances and Relationships
In February 2003 Premier entered into a strategic alliance with Stag Financial Group, Inc. Through this strategic alliance Premier and Stag Financial will work together to conceive and fund new restaurant and bar joint venture projects, assist growing Premier's revenue and income streams while enhancing the balance sheet, and create new financing opportunities to address Premier's growth and expansion needs.
Competition
The restaurant and bar industry is intensely competitive. We compete on the basis of taste, quality, price of drinks and food, guest service, location, ambiance, and ultimately, the overall drinking and dining experience of our guests. We compete against many well established competitors with substantially greater financial resources and a longer history of operations than we do. These competitors' resources and market presence may provide them with advantages in marketing, purchasing and negotiating prices and leases. Furthermore, not only do we compete with other restaurants and bars for sites, but we compete with other retail establishments. Changes in consumer tastes, economic conditions, demographic trends and the location and number of, and type of drinks and food served by, competing restaurants and bars could adversely affect our business as could the unavailability of experienced management and hourly employees.
Employees
As of March 31, 2005, we had approximately 63 employees.
None of our employees are covered by collective bargaining agreements, and we have never experienced an organized work stoppage or strike. We believe that our working conditions and compensation packages are competitive and consider relations with our employees to be very good.
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Property and Equipment
Through our wholly-owned subsidiary, Players Grille, Inc., a Nevada corporation, we presently lease approximately 6,084 square feet of restaurant/retail space in Orange Park, Florida. In this space we operate our Players Grille Restaurant and Bar, a casual dining, theme-based restaurant.
Through our wholly-owned subsidiary, Countrywide Realty Services, a Nevada corporation, we presently lease approximately 875 square feet of commercial/retail space in Miami Lakes, Florida. In this space we operate our Countrywide subsidiary.
Our Chairman, Treasurer and Secretary, Andrew Jones, provides us with approximately 150 square feet of office space free of charge in an office building he leases in Dallas, Texas. This space is considered our corporate headquarters and is where all administrative oversight occurs. Mr. Jones has no plans to begin charging us rent through the end of fiscal 2005.
Intellectual Property
We currently do not own any trademarks or servicemarks. We do own all of the rights to the brand Players Grille Restaurant and Bar. As we grow and develop additional theme-based concepts, we intend to register their respective trademarks and servicemarks with the United States Patent and Trademark Office and other similar international bureaus.
Government Regulations
Our restaurants and bars are subject to regulation by federal agencies and to licensing and regulation by state and local health, sanitation, building, zoning, safety, fire and other departments relating to the development and operation of restaurants and bars. These regulations include matters relating to environmental, building, construction and zoning requirements and the preparation and sale of food and alcoholic beverages. Our facilities must be licensed and subject to regulation under state and local fire, health and safety codes.
Each of our restaurants and bars are required to obtain a license to sell alcoholic beverages on the premises from a state authority and, in some certain locations, county and/or municipal authorities. Typically, licenses must be renewed annually and may be revoked or suspended for cause at any time. Alcoholic beverage control regulations relate to numerous aspects of the daily operations of each of our restaurants and bars, including the minimum age of patrons and employees, hours of operation, advertising, wholesale purchasing, inventory control and handling, and storage and dispensing of alcoholic beverages. We have not encountered any material problems relating to alcoholic beverage licenses to date. The failure to receive or to retain a liquor license in a particular location could adversely affect that restaurant and bar and our ability to obtain such a license elsewhere.
We may become subject to "dram-shop" statues in various states which we may open or operate a restaurant and bar. These statutes generally provide a person injured by an intoxicated person the right to recover damages from an establishment that wrongfully served alcoholic beverages to the intoxicated individual. We intend to purchase liability insurance for protection against such potential liabilities that is consistent with coverage carried by other competitors in the restaurant and bar industry. However, even with such insurance coverage, a judgment against us under a dram-shop statute in excess of our liability coverage could have a material adverse effect on us.
Our operations are also subject to federal, state and local laws governing such matters as wages, working conditions, citizenship requirements and overtime. Some states have set minimum wage requirements higher than the federal level. Significant numbers of future hourly personnel at our
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restaurants and bars will be paid at rates related to the federal or state mandated minimum wage and, accordingly, increases in the minimum wage will increase our labor costs. Other governmental initiatives such as mandated health insurance, if implemented, could adversely affect us as well as the restaurant and bar industry in general. We are also subject to the Americans With Disabilities Act of 1990, which, among other things, may require certain renovations to our future properties to meet federally mandated requirements. The cost of such renovations, if any, is not expected to materially affect us or our operations.
Item 3. Controls and Procedures
Within the 90 days prior to the date of this report, we carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Principal Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures pursuant to Securities Exchange Act Rule 13a-14. Based upon that evaluation, our Chief Executive Officer and Principal Financial Officer concluded that our disclosure controls and procedures are effective in timely alerting them to material information relating to us required to be included in our periodic SEC filings. There have been no significant changes in our internal controls or in other factors that could significantly affect internal controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
PART II - OTHER INFORMATION
Item 1. Legal Proceedings
On January 22, 2004 we filed a civil suit in Dallas County, Texas naming Equitilink, L.L.C., James J. Mahoney, Thomas M. Mahoney and Shamrock Holdings as defendants. The defendants were served on January 30, 2004. The suit alleges that the defendants failed to render services as agreed upon in a October 1, 2003 contract thereby causing a breach of contract. The suit seeks recovery of 600,000 shares of our common stock plus other damages and relief. We do not believe that this suit will have any material adverse impact upon our operations or financial condition.
On August 25, 2004, we filed a civil suit in Dallas County, Texas naming Restaurant Training, Inc. and Lula Francis Platt as defendants. The defendants were served with process on September 7, 2004. The suit alleges that defendants failed to perform under a contract for services, conversion and suit for declaratory judgment. The suit seeks the recovery of $2,500.00, 10,000 shares of common stock and judgment declaring that Lula Francis Platt is not a rightful shareholder of Premier Development and Investment, Inc. We do not believe that this suit will have any material adverse impact upon our operation or financial condition.
On October 28, 2004, a civil suit was filed against us in Hillsborough County, Florida. The suit alleges conversion and civil theft. The Plaintiffs seek as damages 490,000 shares of common stock. We do not believe the validity or venue of this suit are proper and will aggressively defend ourselves.
On April 4, 2005, we filed civil suits in Dallas County, Texas naming Elizabeth Hansen d/b/a OTC Elite Group and Corporate Awareness Professionals, Inc. as defendants. The suits allege that the defendants failed to render services as agreed upon in August 14, 2003 contracts thereby causing breaches of contract. The suits seek recovery of 235,000 shares of our common stock plus other damages and relief. We do not believe that these suits will have any material adverse impact upon our operations or financial condition.
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We are not currently party to any other legal proceedings, nor are we aware of any other pending or threatened actions against us.
Item 2. Changes in Securities and Use of Proceeds
None
Item 3. Defaults Upon Senior Securities
None
Item 4. Submission of Matters to a Vote of Security Holders
None
Item 5. Other Information.
None
Item 6. Exhibits and Reports on Form 8-K
(A) Exhibits --------
99.1 Certification by CEO pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
99.2 Certification by Treasurer and Secretary pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
(B) Reports on Form 8-K -------------------
Form 8-K filed on February 15, 2005 containing earnings guidance for the fiscal year ended December 31, 2004 and for the current fiscal year ending December 31, 2005
Form 8-K filed on March 2, 2005 containing the press release announcing January 2005 comparable same store sales results.
Form 8-K filed on March 24, 2005 containing the press release announcing February 2005 comparable same store sales results.
SIGNATURES
In accordance with the requirements of the Exchange Act, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Premier Development & Investment, Inc. (Registrant)
Dated: May 13, 2005 By: /s/ Eric R. Boyer -------------------- Eric R. Boyer President and CEO
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PRINCIPAL EXECUTIVE OFFICER CERTIFICATION
I, Eric R. Boyer, certify that:
1. I have reviewed this quarterly report on Form 10-QSB of Premier Development & Investment, Inc.;
2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statement made, in light of the circumstances under which statements were made, not misleading with respect to the period covered by this quarterly report;
3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report.
4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:
a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;
b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the "Evaluation Date"); and
c) presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;
5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function):
a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and
b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and
6. The registrant's other certifying officers and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
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Date: May 13, 2005 /s/ Eric R. Boyer ------------------------------------------- Eric R. Boyer President and Chief Executive Officer Premier Development & Investment, Inc.
PRINCIPAL FINANCIAL OFFICER CERTIFICATION
I, Andrew L. Jones, certify that:
1. I have reviewed this quarterly report on Form 10-QSB of Premier Development & Investment, Inc.;
2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statement made, in light of the circumstances under which statements were made, not misleading with respect to the period covered by this quarterly report;
3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report.
4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:
a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;
b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the "Evaluation Date"); and
c) presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;
5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function):
a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and
b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and
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6. The registrant's other certifying officers and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
Date: May 13, 2005 /s/ Andrew L.Jones ------------------------------------------- Andrew L. Jones Treasurer, Secretary and Director Premier Development & Investment, Inc.
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</TEXT> </DOCUMENT>
Exhibit 99.1
CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly Report of Premier Development & Investment, Inc. (the "Company") on Form 10-QSB for the period ending March 31, 2005 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Eric R. Boyer, President and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. ss.1350, as adopted pursuant to ss.906 of the Sarbanes-Oxley Act of 2002, that:
(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.
IN WITNESS WHEREOF, the undersigned has executed this certification as of this 13th day of May, 2005.
/s/ Eric R. Boyer ------------------------------- Eric R. Boyer President and CEO Premier Development & Investment, Inc.
</TEXT> </DOCUMENT>
Exhibit 99.2
CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly Report of Premier Development & Investment, Inc. (the "Company") on Form 10-QSB for the period ending March 31, 2005 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Andrew L. Jones, Treasurer and Secretary of the Company, certify, pursuant to 18 U.S.C. ss.1350, as adopted pursuant to ss.906 of the Sarbanes-Oxley Act of 2002, that:
(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.
IN WITNESS WHEREOF, the undersigned has executed this certification as of this 13th day of May, 2005.
/s/ Andrew L. Jones ------------------------------- Andrew L. Jones Treasurer and Secretary Premier Development & Investment, Inc.
</TEXT>
Posted by andrewAAB on :
yes that is three PR's out friday night so all investors had time to look them over and see that PDVN is worth well over a buck...
Posted by TalonSin on :
I'll be very surprised if there is not a big gap come Monday morning
Posted by TalonSin on :
Been looking at the 10k from yesterday. What does this mean?
As of March 31, 2005 we had other assets consisting of a $558,016 in equipment and leasehold improvements, less accumulated depreciation of ($98,567), and goodwill of $868,586.
What is goodwill of 868k ???
Posted by YunGFree on :
Goodwill A class of intangible assets such as a company's name and reputation.
Goodwill shows up on a company's books when it acquires another company, and naturally has to pay more for it than the listed book value of its assets. The excess paid is categorized as Goodwill, added to the acquiring company's balance sheet as an asset, and then depreciated over a period of years.
Posted by TalonSin on :
Thanks for the info YunGFree! Heres a five star for ya.
Posted by andrewAAB on :
now I am sure ya'll have read the PR's.. but looking back at the pps this was over a dollar after they sold the glove hold and they were half the buisness they are now.. well less then half... also the share count have gone down and revenus have sky rocketed... hmmmm muhahahaha
nothing has changed since their were a dollar other then we are doing 100% better in every area!
Posted by pcloadletter on :
The last trade Friday was a 500 signal.
Unless of course someone bought $35 worth of stock before the commision.
Posted by net10708 on :
Revs increase 4,400%:
Premier Development & Investment, Inc. Reports Increased First Quarter '05 Results Business Wire - May 13, 2005 5:37 PM (EDT)
-------------------------------------------------------------------------------- Jump to first matched term
DALLAS, May 13, 2005 (BUSINESS WIRE) -- Premier Development & Investment, Inc. (OTC Bulletin Board: PDVN), in releasing its financial results for the quarter ended March 31, 2005, announces that its revenue performance improved compared to the equivalent period in the prior year. Consolidated revenues for the first quarter of 2005 were $347,616, representing a $339,616 increase from the prior year revenues of $8,000. A net loss of $33,525 for this period compared to a net Loss of $7,930 in the first quarter of 2004.
Commenting on the results, Eric Boyer, President and Chief Executive Officer, said, "We are very pleased to report this substantial increase in operating revenue over the prior year's results. The $27,195 increase in operating loss is primarily attributable to $36,616 in depreciation expenses that did not exist a year ago. In the area of liquidity and capital resources, over the past year we have worked diligently at improving our balance sheet and increased our assets and have seen improvement in our asset to liability ratios, all in an effort to deliver improved return on assets for our shareholders"
Full details regarding the Company's performance and financial data for Q1 '05 can be found in the 10-QSB report, which was filed today with the Securities and Exchange Commission. A link can be found on the Company's website: http://www.premierdev.com/InvestorRelations under the tab, SEC Filings.
About Premier
Premier Development & Investment, Inc. is a publicly held developer and operator of theme-based restaurant and bar concepts. These concepts are developed internally and through partnerships with other restaurant developers with the intent of building them into full-fledged chains and franchise opportunities. Premier owns and operates the Player's Grille Restaurant and Bar(TM), a casual dining sports themed concept based in Florida. Premier Realty Holdings, Inc., a wholly owned subsidiary, operates Countrywide Realty Services, http://www.cw-realty.com , a full service commercial and residential listing brokerage firm specializing in selling, buying, or leasing properties and providing a full range of real estate services to the greater Miami and Southeastern Florida marketplace.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Premier Development & Investment, Inc.) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the restaurant industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and prospective dealings and joint venture projects. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Premier. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and changes in federal or state tax laws. For a description of additional risks and uncertainties, please refer to Premier's filings with the Securities and Exchange Commission.
SOURCE: Premier Development & Investment, Inc.
Premier Development & Investment, Inc. Investor Relations, 954-447-9268 ir@premierdev.com www.premierdev.com
Copyright Business Wire 2005
Posted by casesense on :
Here is the real DD for you
1> For the quarter ended March 31, 2005, revenues increased 4,245.2% 2> Same store sales increased 18.3% for the month of March 2005 3> For the quarter ended March 31, 2005, 2,222.4%, increase in gross profit was attributable to higher sales. 4> Customer counts in March, as represented by check count, saw more than a 24 % increase 5> Substantial increase in beer, wine and liquor consumption comps for the three month period, which were up 57%. 6> Premier intends to open up to two new Players Grille locations within the Jacksonville area during the course of fiscal 2005. They also plan on introducing a franchising program for Players Grille during the second half of fiscal 2005. 7> Premier is also actively seeking additional acquisition prospects that would complement and accelerate its growth. 8> PDVN has projected revenues for 2005 in the range of $ 2.5 – 3 million 9> Seeking AMEX or NASDAQ eligibility by end of fiscal year 2005.
No hype just the facts. All this information was obtained through Sec filings and company website.
Posted by trading4life on :
upticking.
Posted by trading4life on :
bidxask .075x.077
Posted by Naatan on :
i know insane lol
Posted by trading4life on :
I really can't believe this dropped so far down.. My guess is they did it so an investor could pick up another million shares like he did and it will return to a dollar very soon.. within the month is my guess.
Posted by lushka16 on :
Heeeeeeeellllll yeah
Posted by trading4life on :
man this is running. glad they gave everyone all weekend to look over the filings and make a decision.
Posted by net10708 on :
Yep - PDVN is on fire! It's trying to break out in a major way. Moving nicely on small amount purchases.
Posted by Naatan on :
damn, just got in at .077. lol kept on climbing and couldn't get a buy in
Posted by trading4life on :
I think it will be better for a slow climb so the day traders can take profit and not hurt us swing traders.
Posted by YunGFree on :
keeping the bid x ask very tight
Posted by YunGFree on :
.084 x .085
Posted by trading4life on :
I just hope this doesn't move to fast and becomes a pump and dump.
Posted by lushka16 on :
This wall ought to slow things down
Posted by Albireo on :
wahoooo!!!!! Ride 'em cowboy! :=)
Posted by net10708 on :
PDVN and PNDR really mirroring each other almost. Up we go!
Posted by trading4life on :
the best will be a nice slow run today and tomorrow.. then we will see some real gains. if we keep a good steady pace we could see this run all week.
Posted by Naatan on :
sounds good to me lol
Posted by trading4life on :
looks like the MM's aren't going to let this run fast.. very good for us swings.
Posted by Naatan on :
need to keep the bid/ask close! starting to open up Posted by trading4life on :
it isn't a big spread at all.. anything over a penny is a big spread.
they want this to run.
Posted by clbgroove on :
figured this would run a little better on that news...must be something else coming like thay are bidding on more locations or something..strange
Posted by trading4life on :
this is doing what we need it to do if we want to see real gains.. it is screwing over the day traders, but helping out the swings.. I am swinging this.
Posted by Naatan on :
what price did u guys get in on this at?
Posted by trading4life on :
I got in @ .075
Posted by Albireo on :
Unfortunately, I got in at $.123. But, I have no worries about making some bucks...
Posted by clbgroove on :
.072 avg...i dont think this news has hit and real radars yet...vol way too light for this one
Posted by lushka16 on :
.109 avg. I was going to get out but I might hold this one until $1. I never hold long (see sig), but this is a good oppurtunity for good money.
Posted by net10708 on :
I'm in long, and just watching it. Bid Ask just tightened back up .076 .077 and it's really ready to go.
PNDR has been doing the same. I think both might blast off today.
Posted by trading4life on :
the charts needed to come together which they are doing right now.. we are about to cross and see a uptrend start.. don't sweat the tick by tick..
Posted by renrob05 on :
They are trying to shake things...buys outnumber sells 5 to 1.
Posted by trading4life on :
its because of the big dip from 1.50 to .07 that is keeping it down.. the drop was planned by the company to let a investor pick up shares.. he bought over a million.. now they will have the MM's bring it back up... don't sweat the ticks.
Posted by trading4life on :
A lot of buys going through right now. Wonder if this will gap up or not?
Posted by lushka16 on :
Well, that was another sad day.
Posted by trading4life on :
I was told this was on the naked shorting list. It isn't now so that could be a good sign.
As always correct me if I am wrong.
Posted by nick789 on :
Today a Black Candlestick was formed. This represents normal selling pressure.
For more about this candlestick click here.
The last two candlesticks formed a Bullish Homing Pigeon Pattern . This is a bullish reversal pattern that marks a potential change in trend. However, its reliability is not very high and it requires confirmation.
Posted by net10708 on :
Tue 10:12am PDVN.OB Premier Development & Investment, Inc. Executes Sale and Divesture of its Countrywide Realty Services, Inc. Division - Business Wire
Is this good news?
Posted by renrob05 on :
They just retired another 500000 shares today.
Posted by clbgroove on :
could be..hopefully its a money source and not a problem
Posted by lushka16 on :
Well, this is really frustrating. One measly sell 5k @ .062 and NITE moves his ask down? So what exactly is it when the MM doesn't raise the ask after a lot of buys at ask, but lowers ask at the drop of hat?
Posted by TalonSin on :
I'm still buying a bit and averaging down some more. These guys are playing games now and the price is going down but I'm betting once this funny business is over they will bring this back up a bit. May not be for a while...
Posted by PennyStock_Master on :
NITE seems to hava alot of shares. Where are they coming from?????
67M OS / $200.000 income = ________ x
GLTYA
Posted by Naatan on :
Damn MoFo's are playing games. *shakes fist at them*
Posted by trading4life on :
why on earth after three buys would you sell? I mean after three buys isn't the bidxask likley to uptick? But what do I know.
Posted by clbgroove on :
trade..this is the biggest standstill I have seen on this thing for2-3 weeks of watching it....very strange at this point...thinki of avg down a lttle more ..doesnt seem to be able to go any lower(yeah right) lol
Posted by trading4life on :
A stand still could be a good thing. What really hurts this stock is the day tarders jumping in looking for the run and when it doesn't happen they sell off and drop this into the chitter..
Posted by lushka16 on :
Sorry guys, I couldn't stand having this money tied up any longer (and getting whittled away). I hope my exit marks the beginning of the rally GLTYA!
Posted by trading4life on :
lol lusha16. Its your money.
A lot of big buys today.
Posted by clbgroove on :
been really really quiet!!!! gettin reddy 2 bounce...gettum while ya can
Posted by lushka16 on :
Eh, we've been saying that for an entire week. At this point, It'd have to go up 110% for me to make profit.
Posted by trading4life on :
It will go when it goes guys.
Posted by Albireo on :
same here... but at this point I can't bail, it would be too big of a loss... so I'm just holding off from daytrading and waiting for this thing to rebound... It'll happen someday, and I hope that day is soon!
Posted by clbgroove on :
it will go when they announce WHY they dumpen the realty div....Hopefully so they could aquire additional funds to purchase or focus on the restaruant side...well see what happens but this is a viable location that actually has people in it that work!!!!
Posted by trading4life on :
63 employees
Posted by lushka16 on :
Well don't think for a moment I'm not hopping back into this when it does decide to take off. Until then, I can have my fun elsewhere Posted by clbgroove on :
Liq. sales are up over 50% since they took over in Sept 04 and are working on new menu...the fact that the liq sales are up is a BIG BIG positive for a sports bar cause this is not a fine dining location...sports bars need to sell alchohol to survive...they are....be patient!!!
Posted by trading4life on :
Get some college kids in that bar! We will see a 500% increase in beer sales. lol
Posted by trading4life on :
I have sent a few emails and they have answered. So they are not hiding from anything or anyone. That is a good sign. When a company is in trouble they don't answer phones or emails.
Posted by tongusc on :
take a look at RSI and MACD, Rsi is around 30 and macd is going to across. and if u read the candle sticks for the last two days..
That is a long lower shadow indicates that the Bears controlled the ball for part of the game, but lost control by the end and the Bulls made an impressive comeback.
I think this stock is going to fly very soon.
watch it and then make ur decsion
MORE FACTS ..."Consolidated revenues for the first quarter of 2005 were $347,616, representing a $339,616 increase from the prior year revenues of $8,000. A net loss of $33,525 for this period compared to a net Loss of $7,930 in the first quarter of 2004."
Premier Development & Investment, Inc. Reports Increased First Quarter '05 Results Friday May 13, 5:37 pm ET
DALLAS--(BUSINESS WIRE)--May 13, 2005--Premier Development & Investment, Inc. (OTC Bulletin Board: pdvn - News), in releasing its financial results for the quarter ended March 31, 2005, announces that its revenue performance improved compared to the equivalent period in the prior year. Consolidated revenues for the first quarter of 2005 were $347,616, representing a $339,616 increase from the prior year revenues of $8,000. A net loss of $33,525 for this period compared to a net Loss of $7,930 in the first quarter of 2004. Commenting on the results, Eric Boyer, President and Chief Executive Officer, said, "We are very pleased to report this substantial increase in operating revenue over the prior year's results. The $27,195 increase in operating loss is primarily attributable to $36,616 in depreciation expenses that did not exist a year ago. In the area of liquidity and capital resources, over the past year we have worked diligently at improving our balance sheet and increased our assets and have seen improvement in our asset to liability ratios, all in an effort to deliver improved return on assets for our shareholders"
Full details regarding the Company's performance and financial data for Q1 '05 can be found in the 10-QSB report, which was filed today with the Securities and Exchange Commission. A link can be found on the Company's website: http://www.premierdev.com/InvestorRelations under the tab, SEC Filings.
About Premier
Premier Development & Investment, Inc. is a publicly held developer and operator of theme-based restaurant and bar concepts. These concepts are developed internally and through partnerships with other restaurant developers with the intent of building them into full-fledged chains and franchise opportunities. Premier owns and operates the Player's Grille Restaurant and Bar(TM), a casual dining sports themed concept based in Florida. Premier Realty Holdings, Inc., a wholly owned subsidiary, operates Countrywide Realty Services, http://www.cw-realty.com , a full service commercial and residential listing brokerage firm specializing in selling, buying, or leasing properties and providing a full range of real estate services to the greater Miami and Southeastern Florida marketplace.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Premier Development & Investment, Inc.) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the restaurant industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and prospective dealings and joint venture projects. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Premier. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and changes in federal or state tax laws. For a description of additional risks and uncertainties, please refer to Premier's filings with the Securities and Exchange Commission.
Contact: Premier Development & Investment, Inc. Investor Relations, 954-447-9268 ir@premierdev.com www.premierdev.com
and check this out
Time to get in~ in mroe today I have seen this before where a company takes a drop and makes adjustments before it tanks forward. This past two weeks has been the adjustment. There are people watching this stock so I know when it goes, it will run. The more a stock runs down for no reason the tighter the string on the rubber band gets. It will go once it stops meeting this resistence we have been having lately.
Posted by renrob05 on :
Drew is moving this week.
Posted by net10708 on :
I could see it happening. Seems this stock and SUPR are in a holding pattern, although I did see SUPR had a financial report out this morning.
Posted by CAPTNEMOS on :
company is definitly not in trouble,problem we have here is with them selling back and losing revenues from that part will in turn will drop your revs and eps.what i see is a company that is making money wich is good,but there revs and earnings dont dictate anything near what it was at.
Posted by YunGFree on :
today will be the beginning of an upward trend. will close in the green...imo
Posted by chadsly on :
quote:Originally posted by YunGFree: today will be the beginning of an upward trend. will close in the green...imo
would be 'bout time.
Posted by chadsly on :
Holy Cow. These L2s are looking really good today.
ask: 1 @ .064 2 @ .065 2 @ .08 2 @ .09 .10 .12
Posted by YunGFree on :
theres been a lot of buys this morning...but it seems like NITE has a buttload of shares
Posted by Albireo on :
yes they are, indeed (thanks for posting the L2s). All we need are some solid buys now...
Posted by chadsly on :
quote:Originally posted by Albireo: yes they are, indeed (thanks for posting the L2s). All we need are some solid buys now...
I'll take solid or squishy. LOL
Posted by clbgroove on :
we need to break out of this single digit shi* and after we get back to .10 it will start climbing...IMO
Posted by renrob05 on :
reverse stock split... i knew it
Posted by lushka16 on :
Confirm?
Posted by chadsly on :
With that kind of news. It doesn't matter what the L2s look like.
Posted by trading4life on :
Is the news good or bad?
Posted by chadsly on :
Look at the price. You don't need to confirm a rock falling.
Posted by YunGFree on :
guess i was wrong lol
Posted by PennyStock_Master on :
1-200 revese split
FEMO -- FemOne, Inc. Com ($0.001)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
FemOne Announces First Quarter 2005 Earnings Results
Sales Up 700% From Same Period Last Year
CARLSBAD, Calif., May 17, 2005 /PRNewswire-FirstCall via COMTEX/ -- FemOne, Inc. (OTC Bulletin Board: FEMO), a publicly held Nevada corporation (the "Company"), reported consolidated sales for the quarter ended March 31, 2005 of $1,752,627, an increase of approximately 700% over the first quarter of 2004. The increase in sales in 2005 is primarily attributed to the growth of FemOne's technology division, BIOPRO Technology, since the first quarter of 2004. Gross profits for the quarter ended March 31, 2005 were $1,306,319, an increase of 703% over gross profits of $162,586 reported for the first quarter of 2004.
Consolidated net loss attributable to common stockholders for the quarter ended March 31, 2005 was $1,288,245, or ($0.04) per share, compared to a consolidated net loss of $588,477, or ($0.02) per share, for the quarter ended March 31, 2004. The increase in net loss in 2005 was directly attributable to an increase in expenses associated with the Company's expanded operations and efforts to continue its business growth. Included in the net loss for the 2005 period are other non-cash expenses of approximately $695,000, representing the amortization of charges incurred in connection with the Company's convertible debt financing.
Operating expenses for the quarter ended March 31, 2005 were $1,843,890, compared to $739,334 for the same period in 2004. The increase in operating expense was due to increases in commission expenses incurred on the increased sales, as well as increases in promotion and marketing expenses and increases in costs incurred as a publicly-reporting company. Operating expenses as a percentage of sales decreased to 105% for the quarter ended March 31, 2005, from 337% for the quarter ended March 31, 2004.
Included in the Company's consolidated results for the three months ended March 31, 2005 are revenues and expenses from its two controlled subsidiaries, BIOPRO Australasia Pty, Ltd, which operates the Company's direct sales effort in Australia and New Zealand, and SRA Marketing, Inc., which is responsible for all sales made over the Direct Response Shopping network. Each of these subsidiaries began their operations in the fourth quarter of 2004. Their revenues represent 23% and 16%, respectively, of the Company's consolidated revenues for the three months ended March 31, 2005.
Commenting on the results, Ray W. Grimm, Jr., the Company's chief executive officer, stated "To grow our revenues by some 700% within one year is extremely rewarding for us, and a great sign that the marketing efforts and initiatives we have implemented are being received favorably by our distributors and customers. We look forward to keeping this sales momentum and achieving profitability."
The information contained in this press release should be read in connection with the Company's Annual Report on Form 10-KSB for the year ended December 31, 2004, containing the Report from the Company's Independent Registered Public Accounting Firm that includes a qualification as to the Company's ability to continue as a going concern and other information necessary for an understanding of the Company, as well as its Quarterly Report on Form 10-QSB for the period ended March 31, 2005.
About FemOne, Inc.
FemOne, Inc. (OTC Bulletin Board: FEMO), based in Carlsbad, California is sales and marketing company with distribution in the United States, Canada, Australia and New Zealand. More information about FemOne and its products can be found on the company's web sites at www.femone.com or www.bioprotechnology.com, by e-mail at FEMOIR@femone.com or by calling FemOne Inc. at (760) 448-2498.
Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward- looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward- looking statement.
These forward looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievement expressed or implied by such forward looking statements. In some cases, you can identify forward looking statements by terminology such as "may," "will," "should," "could," "intend," "expects," "plan," "anticipates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of such terms or other comparable terminology. Although we believe that the expectations reflected in the forward looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of such statements.
FemOne, Inc. Summary Consolidated Financial Information
Statement of Operations Data: For the three months ended March 31, 2005 2004 REVENUES Sales $1,752,627 $219,491 Cost of Sales 446,308 56,905 Gross Profit 1,306,319 162,586
EXPENSES Order fulfillment costs 882,042 126,642 Sales and marketing 531,033 253,967 General and administrative 430,815 358,725 Total Expenses 1,843,890 739,334 LOSS FROM OPERATIONS (537,571) (576,748) OTHER INCOME (EXPENSES), net (712,380) (11,729) LOSS BEFORE MINORITY INTEREST (1,249,951) (588,477)
MINORITY INTEREST IN SUBSIDIARY (38,294) --
NET LOSS $(1,288,245) $(588,477) NET LOSS PER COMMON SHARE - Basic and Diluted $(0.04) $(0.02) WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - Basic and Diluted 36,501,773 26,198,509
Balance Sheet Data: March 31, December 31, 2005 2004 Cash $496,744 $720,468 Accounts receivable $87,707 $261,888 Inventory $614,880 $370,958 Intangible assets, net $230,908 $239,457 Net working capital $343,886 $882,613 Total assets $1,994,243 $2,309,186 Accounts payable and accrued liabilities $1,026,777 $643,959 Deferred Compensation $76,011 $76,011 Convertible notes payable, net $880,061 $473,336 Notes payable - related parties $650,009 $735,553 Total liabilities $2,632,860 $1,928,859 Minority interest in subsidiaries $81,817 $43,523 Total stockholders deficit $(720,432) $(336,934)
SOURCE FemOne, Inc.
CONTACT: Cindi Moore of FemOne Inc., +1-760-448-2498, FEMOIR@femone.com
Copyright (C) 2005 PR Newswire. All rights reserved.
-0-
KEYWORD: California Nevada INDUSTRY KEYWORD: HEA MTC BIO OTC SUBJECT CODE: ERN OTC
Posted by lushka16 on :
quote:Originally posted by chadsly: Look at the price. You don't need to confirm a rock falling.
Heh, true.
Posted by jason10 on :
where the hell you getting reverse split im not seeing any news on it cut and paste or link it please
Posted by chadsly on :
Well, I got out at .048 with nice %60 loss. LOL Time to move on, I guess.
Posted by net10708 on :
Well, even though some people shook and ran, R/S will reduce number of OShares, thus making the stock move faster in the future on share purchases.
Also, this makes the company get closer to being able to stay fully listed.
R/S is not always bad, not at all. Look at INSP - they did one, and soared afterwards.
Posted by jason10 on :
bleh nvm found it
---------------------------
DALLAS, May 18, 2005 (BUSINESS WIRE) -- Premier Development & Investment, Inc. (OTC Bulletin Board: PDVN), announces that it will undergo a 1-for-200 reverse stock split. The Board has set the record date for the reverse stock split for Friday, June 3, 2005 and the effective date for Thursday, June 9, 2005.
At a special meeting of stockholders held on May 17, 2005, Premier's Board of Directors unanimously adopted and certain shareholders holding a quorum and subsequent majority of the our voting stock approved a resolution to effect the 1-for-200 reverse stock split (the "reverse split") of the Company's common stock. Also at this special stockholders meeting, the stockholders approved reducing the number of authorized common shares by 1,000,000,000 shares. Upon completion of the reverse split the number of authorized common shares shall be set at 250,000,000.
After giving effect to the reverse split, Premier's issued and outstanding common stock shall be reduced to approximately 339,620 shares from the presently issued and outstanding 67,924,069 shares. The reverse split will affect all shares of the Company's common stock, including those underlying any and all stock options and warrants outstanding prior to the effective date of the reverse split. Fractional shares will not be issued. A cash amount shall be paid, based on the stock price of the record date, on fractional shares and to shareholders that hold less than a share after the reverse split, in lieu of new shares.
Although the desired effect of the reverse split is an increase in the market price of Premier's common stock, no such increase can be assured or calculated. The market price of the common stock may not rise in proportion to the reduction in the number of shares issued and outstanding as a result of the reverse split, nor can there be any assurances that the reverse split will lead to a sustained increase in the market price of Premier's common stock. The market price of the common stock may also change as a result of other unrelated factors, including Premier's operating performance and other factors related to its business as well as general market conditions.
Eric Boyer, President and CEO of Premier, commented, "We believe that this reverse stock split is an important step in Premier's growth strategy. We believe a higher per share stock price will increase the visibility of the Company in the financial community and enhance our ability to complete raising the necessary funding we need to attain our goal of opening additional Players Grille locations this year and beyond, as well as allow us to move forward towards our goal of listing our common stock on a national stock exchange."
A new Premier trading symbol and CUSIP number will be announced on or around the effective date of June 9, 2005. Premier's transfer agent, Transfer Online, Inc., will handle transactions involving stockholders who hold physical certificates and exchange their old stock certificates for new stock certificates. Stockholders whose shares are held by their stockbrokers or with on-line brokerages do not need to submit old stock certificates for exchange.
Posted by trading4life on :
I wonder what the share price will be after the r/s.
Posted by glassman on :
normally? dogfights don't end in death... when man is not encouraging a fight to the death? the losing dog usually lies on his back, exposes his throat, and urinates on himself....
Posted by Albireo on :
I got out at .48. Took a 60% loss, but that'll happen sometimes...
It's too bad, because this stock looked very promising for a while...
Posted by chadsly on :
quote:Originally posted by trading4life: I wonder what the share price will be after the r/s.
My guess:
If you're really lucky after the split the price will be back at $1.00. Which is the same as getting out at .05 now. GL to all to decide to go for it. I don't want to stay with any company that votes without telling the shareholders.
Posted by trading4life on :
That is crazy. Oh well you win some and you lose some.
Posted by pcloadletter on :
About to suck is a better title....oh well on to other stocks
Posted by trading4life on :
LOL I really feel for anyone buying in now. Looks like the news has hit the fan. Look out below!
Posted by Albireo on :
You know, the title of this thread was dead on (good prediction Drew)...
"PDVN..... ABOUT TO BLOW!!!!!"
Indeed, it does BLOW!!
Posted by BlindMellonChitlin on :
Like all the stocks that I've seen do a r/s, they'll just start diluting again as soon as it occurs and the price will drop to about what is now.
Posted by trading4life on :
LOL
Posted by glassman on :
blow chunks...
Posted by devilbutt on :
"Guaranteed it might go up!" Last time I listen to my barber, I tell ya. Should have gone with my original plan and bought lottery tickets!
Posted by YunGFree on :
quote:Originally posted by chadsly:
quote:Originally posted by trading4life: I wonder what the share price will be after the r/s.
My guess:
If you're really lucky after the split the price will be back at $1.00. Which is the same as getting out at .05 now. GL to all to decide to go for it. I don't want to stay with any company that votes without telling the shareholders.
Actually that would be true if it were a 1 for 20 reverse split... its a 1 for 200. It would have to go to $10.00 i believe. (not happening btw)
Posted by chadsly on :
You're right. Typo. Thank you for correcting me.
Posted by clbgroove on :
President and CEO resigns!!!!!!! (yahoo) Now they will announce the R/S was his idea and now wre not doing it......CRIMINALS
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