- Michael Rosenberger, CEO of American Restaurant Concepts, Inc. (OTCBB: ANPZ), to sell 15,530,000 shares of the Company's common stock to Seenu G. Kasturi, CEO of Blue Victory Holdings, Inc. (BVH) for $500,000 cash.
- Seenu G. Kasturi will also cover around $66,000 in operating expenses for the company.
- The 15.5 million shares represent approximately 45.3% of the Company's outstanding shares of common stock.
- Rosenberger will retain beneficial ownership of 4,573,000 shares, or 13.3%, of the company's common stock after the transaction closes.
Seenu Katsuri officially becomes the voice of American Restaurant Concepts the day after the later to occur of the following:
- the date the ANPZ's Form 10-Q for its first fiscal quarter ended March 25, 2012 is completed and filed with the SEC, **DONE**
- the date the ANPZ's Form 10-Q for its second fiscal quarter ended June 24, 2012 is completed and filed with the SEC, **DONE**
- the date ANPZ's Common Stock is relisted on the OTC **Done** today (sept 13)
American Restaurant Concepts
• Florida-based operator and franchisor of Dick's Wings® Restaurants
• 16 full-service Dick's Wings & Grill® locations and 3 Dick's Wings Express® locations. 16 located in Florida, 2 located in Canada and 1 located in Georgia.
• "Best Chicken Wings in Northeast Florida" 12 consecutive years by Folioweekly magazine
• 2011 revenue increased 17% over 2010 revenue
Blue Victory Holdings
• Louisiana-based restaurant development firm that opens, manages, rehabilitates, buys and disposes of branded restaurants
• BVH owns 22 restaurants expected to produce more than $25 million in revenue during 2012
• Restaurants include 16 KFC® locations, 4 KFC/Taco Bell® multi-brand locations, 1 KFC/Long John Silver's®location, and 1 Hardee's® location
American Restaurant Concepts Business Description
American Resturant Concepts Inc. is the parent company of Dick's Wings & Grill. Dick's Wings & Grill has been voted "Best Chicken Wings in Northeast Florida" 12 consecutive years by Folioweekly magazine. Dick's Wings prides itself on 365 original mouth watering flavors. The menu meets all customers' expectations by offering fresh sandwiches, burgers, wraps salads and signature waffle fries. Most impressive is that the wings are fresh, never frozen and cooked to order. Dick's Wings was founded in Jacksonville Florida in 1996 and has grown to 18 stores. Georgia is the home of 2 restaurants and 1 in Canada. The company is poised to grow offering key guide lines to franchise success.
The Company is resolute in its plan for American Restaurant Concepts, Inc. to promote and market its stores and to provide excellent and friendly dining experiences to a wide variety of consumers throughout the US. The Company's executive team is confident that the Company is poised to realize great profits. The value of American Restaurant Concepts, Inc. stock will increase considerably with the achievement of the goals set for the Company.
Investors will share in the increased valuation of the Company as revenues grow, the balance sheet becomes stronger, and the Company attains a market leadership position. American Restaurant Concepts' management will pursue viable exit strategies once the Company reaches a critical mass.
Management believes that it can attain an attractive outcome for all shareholders. Based on industry average P/E ratios and current projections, the Company valuation could be over $220 million within five years.
American Restaurant Concepts has tremendous growth opportunities. The restaurants offer great food coupled with outstanding service in a fun, family-friendly atmosphere. Its broad menu of simple, quality food items fosters customer loyalty.
The main focus for American Restaurant Concepts is to develop a solid foothold within the wings restaurant market, and to prove itself as a strong competitor against other casual dining restaurants. The Company will continue to establish a reputation of having freshly prepared food and a fun and family friendly dining experience.