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lol thanks clb.. I guess some ppl can't read... lol the 16th kids a PR of filing will be out... thats MONDAY!!!!!!!!!!
-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
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LMAO!!!! hey k when qbid hits I will take u for a ride in my new porsche... 911 turbo baby!!!!
-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
Warning all posts by this person are considered to be false and not factual.
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if we drop back down to .071-.072 I am pickin up some more...
-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
Warning all posts by this person are considered to be false and not factual.
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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
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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"
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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
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no reason for the drop.. it will be back up in no time..
-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
Warning all posts by this person are considered to be false and not factual.
IP: Logged |
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.
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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
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.
-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
Warning all posts by this person are considered to be false and not factual.
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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
-------------------- If you made money, it was a good trade
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not just monday... this is gonna have a HUGE week!!!!!!!
-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
Warning all posts by this person are considered to be false and not factual.
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posted
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
-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
Warning all posts by this person are considered to be false and not factual.
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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...
-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
Warning all posts by this person are considered to be false and not factual.
IP: Logged |
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.
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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.
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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.
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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?
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