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..
link for PR's... Do the due kids! Posted by andrewAAB on :
american bull has a buy-if.. Check it out.. I think it will gap in the am and run..
GLTA
Posted by stocksss on :
Why did it drop like 80 cents in april? Is there a reason?
Posted by andrewAAB on :
lol thats the crazy thing.... no reason.. they are stronger then ever and were up to a dollar a month ago... they are buying back shares... From what I can see it was just a downtrend sparked by a major holder taking profits causing a sell off... it will rebound in no time... I have asked around and no one knows why else it would have dropped, but they said it would be back up to those prices in no time...
Posted by stocksss on :
Looks good to me...I'm getting some today. What price did you get in at?
Posted by andrewAAB on :
I got in @.1035 ... it dipped down to .07 and then shot back up and has been getting tons of volume.. I bought in @.14 and then when it dipped I bought more to avg it.. I am looking for this to BLOW UP!!! Posted by stocksss on :
That Adam Barnett dude bought 1,200,000 in the open market April 26/05 to May 6/05.
Like I said...looks good.
Posted by andrewAAB on :
Lets see what we can do today!
Posted by andrewAAB on :
nice gap open.. lets see what this baby can do.. Posted by andrewAAB on :
nice tight spread.. SCHB on the bid and off the ask @.135
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 renrob05 on :
In at 0.12...come on baby
Posted by andrewAAB on :
welcome aboard.. lets see a nice uptrend to start the week Posted by andrewAAB on :
bring the bid up.. tight spread and gettin hits..
Posted by andrewAAB on :
man! look at those L2's.. hot hot hot!!!!!!
Posted by andrewAAB on :
this is flyin.. nice tight spread.. bid support.. doesn't get much better kids..
Posted by renrob05 on :
took me 5 minutes to fill.
Posted by andrewAAB on :
man.. lol well at least your in.. GO BABY GO!!!
Posted by andrewAAB on :
hasn't even broken the 20day avg and it is cookin!
Posted by andrewAAB on :
some big orders startin to come in!!! Posted by renrob05 on :
L2s look amazing on this one.
Posted by andrewAAB on :
oh yeah.. strong bid support.. this is gonna run hard either today or tomorrow.. all the shares are being bought up.. 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 renrob05 on :
oh yeah...i'm holding. Will pick up more at this price. This thing is gonna pop.
Posted by andrewAAB on :
i am just guessin, but I think this will gap tomorrow and run.. three days in a row of plus a million vol..
Posted by andrewAAB on :
seein action.. watch for eod run..
Posted by daily double on :
well guys you talked me into it. I just bought some at .107. I looked into it some and it does look good.
Posted by andrewAAB on :
yep.. sooner or later it will blow up!! muhahaha! it is holdin up nice at eod..
Posted by renrob05 on :
It's been a good day. Americanbull will have it as a BUY CONFIRMED. Keep your eyes open for that.
Posted by andrewAAB on :
that would be great.. last was a sell for 72 days.. a buy confirmed would be great.. this held up nice no big sell off at close so i am happy.. looking to blow up soon.. 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 andrewAAB on :
lol I will take that.. honestly I think we are gonna have a few 100%-50% days pretty soon..
Posted by nick789 on :
Americanbull posting a buy confirmed. L2 upticking...just a matter of time until this goes!!
Posted by renrob05 on :
LIke i said 10% a day...I'll take that anytime.
Posted by andrewAAB on :
nice uptrend on the way.. muhahaha!!! fly baby fly!
Posted by andrewAAB on :
nice dip.. looks to run now..
Posted by chadsly on :
I'm really hoping to free some funds to get in here. The L2s look great. I don't see it getting any cheaper.
Posted by clbgroove on :
filled a 9000 order with 100 shares at the bid??? Whats up with that...no damn shares avail???
Posted by andrewAAB on :
looks to pass .15 today....
Posted by lushka16 on :
It better 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 clbgroove on :
I posted this in the day forum thread as well...I was at this location over the weekend and spoke with Mike the GM and they are planning to open 4-6 corp locations and then franchising. The place is in a very high dollar area with all the major rest and retail chains. The whole area has been exploding recently and the whole area is newly built in last 3-4 years. This company has the name trademarked and the origanal location is not for sale yet but they have first right of refusal. They are doing great compared to the old owners and the GM actually was working at 6:00 pm Sat night!!!Sales are up way up and in his opinion is due to them changing the menu and making fresh food..yes everything was frozen or premade before!!!
Posted by andrewAAB on :
get to .09 and we are gone baby!!! keep it whole~!
Posted by pick em low on :
GCCPE is moving nicely up 5 days straight.... at least it's not a P&D
Posted by andrewAAB on :
nice nice.... thats what we need this to do... its gettin some hits.. get that eod run baby!
Posted by pick em low on :
INSN somethings up?
Posted by andrewAAB on :
that had a great run today..
Posted by trgfunds on :
Any idea where the bottom is on this? Is it really that oversold? How many shares outstanding?
Posted by andrewAAB on :
less and less everyday~!! yes it is really that oversold! do some DD..
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 chadsly on :
Tons of buys going through this morning.
Posted by andrewAAB on :
yeah baby!
Posted by renrob05 on :
That 29000 share buy this morning was mine...this is gonna fly. Thanx Drew for the heads up!!!
Posted by andrewAAB on :
its what I do... lol wish i had more funds to get in at this price..
Posted by andrewAAB on :
L2's are so hot... get to .15 and no tellin where we will stop.. come on baby!!
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 :
AAB...guess im gonna have to go back down there and kick Mike in his as* and tell him to send some of those hot girls they have out on the street and ask if they wanna get it on a good startup company...theres PLENTY of money driving past thier building everyday. I think I'm just going to put this thing off the radar and come back in 3 months when the next earnings report comes out and will be back to norm. I have 35k shares of this puppy and not selling. As u know I have been there and i dont believe they are going anywhere but up....LONG play here but will be more than worth it!
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 andrewAAB on :
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.
Posted by andrewAAB on :
eod run u biotch!!!!!!!!!
Posted by clbgroove on :
quarterly due out Monday with deadline being Sun...spoke to IR and they are looking to add more locations and "we are bidding on some now"///probably the origanal location and they have done no financing or missed any payments and revenues and sales are up and everything will be positive on the release....sale on PDVN now....Blue light special
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 :
quote:Originally posted by nick789: 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!!
It will be out Monday..
Posted by renrob05 on :
I'm confused...when is it coming out. Monday or end of month. Two different stories here.
Posted by clbgroove on :
IR told me in quote"the filing is due the 15th and since the 15th is on sunday we will be filing on Monday since 15th is a sunday and we are going to make the filing,there is no negative news or new financing or missed payments,and sales are up but we can not control the share price but we do not know of anything that would drive the shares down and we are bidding on some new locations and restaurants"...take it for waht you will but I hasve actually been to this establishment and it is a real location with real people!!!
Posted by andrewAAB on :
lol thanks clb.. I guess some ppl can't read... lol the 16th kids a PR of filing will be out... thats MONDAY!!!!!!!!!!
Posted by Ktrain420 on :
WARNING ABOUT TO BLOW QBID'S BALLS!!!!
Posted by andrewAAB on :
LMAO!!!! hey k when qbid hits I will take u for a ride in my new porsche... 911 turbo baby!!!! Posted by clbgroove on :
Take him over to ur new bar to eat...Players Grille...Orange Park,FL...I hear the wings are GREAT!!!!!!!!!!!!!
Posted by stockaholic on :
Is there one on OP? I live in Jacksonville. Guess I need to go check it out and bring back a report. : )
Posted by andrewAAB on :
do it man!!!!!!
if we drop back down to .071-.072 I am pickin up some more...
Posted by clbgroove on :
Stock..its in orange park..fleming island....
Posted by stockaholic on :
Cool! My band's playing in that Fleming Island area at the end of the month. I'll have to stop by and see how the women & wings are. Hopefully, by then though, this will be up to about .25
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 spudnutz on :
Good post Albireo, I think the response from IR is well written and gives a very positive message.
My DD: In the past 30 days the stock has dropped over 90%, several big sales dropped the price and created panic selling and snowball effect downward. Anyone have any idea what's really behind the price drop. I've been through SEC filings and other BB's and have found nothing else to explain massive price drop. If there is nothing else hidden, IMO, PPS should move back up within the next 30 days to at least .35. I'm in today for a few shares at .075 avg price.
Other stocks I'm following: MLOXE-may move back up soon, solid company involved in toxic financing; CTGLF-play on IT in China;, CTCK-long shot, major building products coming into the US, claiming propriatary technology; XTME-racing boats and harbor security water craft
Posted by andrewAAB on :
no reason for the drop.. it will be back up in no time..
Posted by spudnutz on :
10QSB out today:
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 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.
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.
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 TalonSin on :
Saw this on stockprofilers website, not new but interesting
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).
Monday will be very interesting for this one
Posted by andrewAAB on :
not just monday... this is gonna have a HUGE week!!!!!!!
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 :
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 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 chadsly on :
bid and ask just keep upticking. Crazy volume today. Should play all week (if we're lucky)
Posted by BuyPennywise on :
anybody have a target PPS on PVDN? 1step2step put the value over $1... didn't see the numbers.
Posted by trading4life on :
They are trying to shake things...buys outnumber sells 5 to 1.
Posted by clbgroove on :
should run over .10 after 2:30...always seems to run hard last 2 hours...dont think this hit the big radars yet..
Posted by stockaholic on :
just don't get it
Posted by clbgroove on :
Stock..WTF is the problem with this thing...it should have went at least back to .13-.15 on that news..Im very puzzeld
Posted by Naatan on :
Maybe IT?
Posted by Balder on :
good stocks are good stocks regardless of the current share price.
I'm going to start looking into this one....
Posted by jason10 on :
wow balder is a big money guy you can sell him your shares Posted by stockaholic on :
quote:Originally posted by clbgroove: Stock..WTF is the problem with this thing...it should have went at least back to .13-.15 on that news..Im very puzzeld
Im with ya. I don't understand with this one but I'm not going anywhere. I'm headed to the Player's Grille in OP at the end of the month just to check it out. Financials are good. Tangible assets. I'm holding this. No funny stuff going on that I can see. Have been wrong before but just don't understand the apprehensiveness here with the news out. Potential should be realized sooner than later.
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 Naatan on :
Come back up baby!
Posted by BuyPennywise on :
trading4life... is that DD, or speculation? If the shares have already been picked up, and an amazing PR was released, wouldn't the PPS be higher by EOD?
Posted by trading4life on :
its in the PR's.. no. Who wouldn't think something was up with the big dip? It will take time for the MM's to bring this back up and they will.
I run off of Filings not speculation.
Posted by BuyPennywise on :
good to hear... it's DD. Was just curious.
Posted by trading4life on :
A lot of buys going through right now. Wonder if this will gap up or not?
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
Posted by trading4life on :
I was told this use to be on the naked shorting list.. It is off of it now. Could be a good sign.
As always correct me if I am wrong.
Posted by tongusc on :
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 Posted by tongusc 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 tongusc on :
compare with the macd and RSI...
Posted by tongusc on :
am i the only one who bought this?
Posted by clbgroove on :
Not even tonq... there is a pr out about selling the RE div off
Posted by clbgroove on :
jump in guys...its at the bottom and holding strong...avg down while u can...Should go now
Posted by tongusc on :
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.
Watch the fun! imo
Posted by trading4life on :
I am in.
Posted by tongusc on :
Premier Development & Investment, Inc. Executes Sale and Divesture of its Countrywide Realty Services, Inc. Division; Reports Updated Revenue and Earnings Guidance Projections for 2005 E-mail or Print this story
17 May 2005, 10:12am ET
DALLAS--(BUSINESS WIRE)--May 17, 2005--Premier Development & Investment, Inc. (BBDVN), announces that it has sold back its ownership of Netex Financial Services, Inc. d/b/a Countrywide Realty Services to Joseph Machado, Countrywide's original owner. In an agreement executed with an effective date of April 1, 2005, Premier Development and Investment in exchange for its title and interest in the assets of Countrywide received back 400,000 restricted and 100,000 free trading shares of Premier Development & Investment, Inc. common stock in the transaction.
The board of Premier Development chose to then retire the 500,000 shares of common stock and had its transfer agent cancel these shares. Currently the company has 67,924,069 shares issued and outstanding after the cancellation as of May 17, 2005.
Eric Boyer, President of Premier commented on the sale by stating, "Unfortunately the operating results experienced from the Countrywide Realty division were a disappointment from a revenue standpoint. Management felt it best to place its focus and resources on the Players Grille restaurant operations, which have exceeded expectations. We are pleased that we have been able to bring yet another share reduction to our shareholders as a result of the closing of this transaction." the news sounds good. They'll focus on what they do best
Posted by Karama on :
I'm taking the plunge too. It'll make for a sweet ride! How long does anyone think the turnaround will be??? I noticed it was just over a month to recover the last time the stock went down like this.
Posted by trading4life on :
I am holding until it hits . It will be one fat paid.
Posted by tongusc on :
Top honors today in the three categories go to:
Long - homedirt with MAKY up 24% Short Penny - viper54 with ITMUQ up 28% Short - Beltway with PKTX up 17%
karama it might take a little more time than normal but with the reward it should be worth it IMHO....gl to all ...BTW..I have persoanlly been at this restaurant and is a busy/viable very high dollar area of all new construction and the place is already established and is not a startup business...use your own judgement and dd and have fun on this one...should be a ride!!!
Posted by tongusc on :
Agree. IF YOU WANT TO MAKE MONEY YOU HAVE TO LEARN HOW TO BE PATIENCE.
FAITH...
Posted by trading4life on :
a lot of big buys today....
Posted by Karama on :
Update. Premier Development & Investment, Inc. Announces Reverse Stock Split
DALLAS--(BUSINESS WIRE)--May 18, 2005--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.
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.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain statements within this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include statements about the implementation of a reverse stock split and other statements containing forward looking terminology such as "may," "expects," "believes," "anticipates," "intends," "expects," "projects," or similar terms 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 Eric Boyer, 954-447-9268 ir@premierdev.comwww.premierdev.com
SOURCE: Premier Development & Investment, Inc.
Posted by Balder on :
talk about a brush with disaster - I had an order in for a million shares at 0.07 just the other day - it wasn't filled (I had pulled it 3 minutes post placing it after my gut got a really bad feeling)
Somebody upstairs is watching out for me...
Posted by Karama on :
You know balder, I had a feeling too but thought it was just too much coffee.Sheesh!I've just been reading old press releases - they've never had a reverse split, had one forward split two years ago. How does anyone feel about PDVN's future? Their recent releases seemed promising.
Posted by TalonSin on :
I wish I had gotten that feeling! DOH!!!!
Posted by chadsly on :
If they asked you to vote on the reverse split, you should feel great about the company. On the other hand for someone to annouce an R/S without a warning shows they don't care about their investors. I sold this morning and feel bad for those that purchased from me. It's only going lower. I think this is the highest one will ever see it again. Just my opinion. If someone disagrees please say so.
Posted by Naatan on :
i agree, this company should have gone up many times. Bought some shares after the news release and sold it almost right away cuz it didn't seem right. with those 3 news releases it should have gone up a bunch but ended up going down a bunch. Something is going on in the inside....IMHO
Posted by tongusc on :
WHy people so scaried of reverse stock split? can someone explain to me?
Posted by Naatan on :
Lets say that u own 30,000 shares of PDVN, they say they are going to do a reverse stock split 30 to 1. Once that happens instead of u having 30k shares u have 1k. Usually do that to get rid of shares and move the stock price up.
Posted by tongusc on :
A 1:2 reverse split means "1 new share for every 2 current shares." So if you owned 2 shares of a $3/share stock, you would then have 1 share of a $6/share stock after the split.
it doens't change..
Posted by chadsly on :
quote:Originally posted by tongusc: A 1:2 reverse split means "1 new share for every 2 current shares." So if you owned 2 shares of a $3/share stock, you would then have 1 share of a $6/share stock after the split.
it doens't change..
The problem is this:
I bought about .12 and sold about .05. It's now about .03. If it R/Sed now, it would be worth $6.00. It would then have to go all the way to $24 for me to get my original money back. Not impossible, but highly, highly unlikely. Going from $.03 to $.12 doable in a couple good days. $6.00 to $24.00 would take about one really good year.
Posted by Naatan on :
that is a forward split...we are talking about a reverse split. a reverse split u will be losing shares and ultimatly more money (in most instances)
Posted by iplabs on :
quote:Originally posted by tongusc: WHy people so scaried of reverse stock split? can someone explain to me?
Another problem with the reverse split is the authorized shares usually stay the same. In this case they are going to lower them to 250,000,000 from 1,000,000,000. But to keep things even they would need to lower the authorized shares to 5,000,000.
This move gives them 200,000,000 shares to sell and dilute the stock even more, when it all shakes out the stock value will be .24 after the split or .0012 at pre split prices (assuming a pre-split price of .06).
Posted by chadsly on :
Who knows, after the R/S I may even sell short just to see how low it goes and try to get my money back.
Posted by TalonSin on :
You forgot the bad part!
You paid .10 for each share you bought and you bought 30,000 shares (30k * .10 = $3,000). After the reverse split is announced the stock crashes to .03 per share. Now when the split happens you end up with 1,000 shares worth .90 each for a total investment of $900.
Now everyone and their mom know this stock is run by crooks so they avoid it like the plague and the price starts to fall again. The company needs more money so they issue more stocks and the process starts all over again. A year later you end up with 1000 shares worth .10 each
I gotta agree with chadsly above. If these guys had really had a stockholders meeting and done this right it could have worked out later. But these guys brought the price down and had a buddy (Mr Barnett) buy up shares so they could say they had major investors at the meeting and then they hammered us
Posted by chadsly on :
It's almost like they tried to cover it up by releasing other news:
PR#1 Oh look here's our finanial report PR#2 Oh look we have great revenues PR#3 Oh look we're planning on getting rid of this part of company PR#4 Oh look here's a reverse split
I can't wait to see what the next PR will say.
Posted by tongusc on :
how many of you guys still holding it
Posted by tongusc on :
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."
incredible..................... Make up your mind
Posted by TalonSin on :
I'm still holding. I'm just too stubborn to take my loss on this one. I only put 1,000 in so whats left isnt really worth pulling out now.
I really feel bad for the people who brought in back when it was over a dollar. That would suck a mountain of butt the size of an imperial star destroyer!
Posted by Karama on :
LOL.I'm in with 10K shares, so what I put in is also not worth trying to pull out now so I guess I'm in for the long haul.Should be interesting but probably a longer trip than I expected. The releases have confused me - I'm not sure I follow their 'growth strategy'. Goodluck to all who are without a doubt in-and staying for a while.
Posted by chadsly on :
Make sure you guys keep this thread going. I'd love to keep checking on it and find out I was wrong. GL to those long haulers.
Posted by TalonSin on :
I keep debating this one with myself. Why let my few hundred sit here for a year hoping it will someday make money when I can pull it out and put it into a good stock like SMTR and be almost guarenteed to make some of the loss back?
On the other hand I think about Boyer and Barnett owning millions of shares and wonder how they hope to make their money off this? Maybe they have somehting up thier sleeve and are doing all this just to buy up shares really low.
We'll have to see how this goes for a bit but I think I am weighing over to the sell side. I just hate to admin I lost on this one.
Posted by clbgroove on :
Amagine THAT!!!!! The Pseident and CEO resigned (yahoo)....it will probably come out now that they are not going to do a R/S cause it was his idea!!!!!!! Fire up the class action suit now and get it warm!!!!! lol Im on with ya
Posted by Karama on :
I am hoping you're right 'groove. It'd be a blessing, that's for sure! crossing my fingers for a retraction on the r/s idea. Good luck to us all!
Posted by clbgroove on :
Can someone good with the numbers tell us what this equates to. New news on dividend on Yahoo. Dont know how to post. Thanks
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its what I do... lol wish i had more funds to get in at this price..