Baristas Coffee Company, Inc. (BCCI)

[BobSinCA]

"Announcing" locations won't be enough, must actually open.

So far in 2014:

- In February, BCCI announced a third SW FL kiosk with their partner for early Q2 opening, hasn't happened yet.

- In May, BCCI announced an 8 state master franchise deal in the east, with a required first kiosk opening by October 1. More interestingly, this announcement included purchase of a Knoxville Sports bar to be rebranded, suggesting brand extension beyond the apparently failed ice cream initiative.

Unfortunately, the recently amended Registration Statement said that this deal is defunct -- won't happen.

In previous years, the company announced a New Jersey franchisee, and a 5 site franchise deal in Arizona, these didn't happen (although, two AZ locations opened then closed). Two TX locations were opened then closed.

The company has announced franchise papers filed in 26 states -- but actual store openings are not happening. Indeed, the company's store count has reduced from 13 to 10 over the last year, causing reported revenue to decline.