Cafe Serendipity Holdings Inc. (CAFS)

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News out. 7/21/15 Check the filings before jumping in here. Looks like all debt and no revenues.


Cafe Serendipity Holdings, Inc. Announces Signing License Agreement to Open Flagship Store in Oregon
HENDERSON, NV--(Marketwired - Jul 21, 2015) - Café Serendipity Holdings, Inc. (OTC PINK: CAFS) (the "Company"), is pleased to announce the signing of a license agreement to open a recreational use marijuana flagship store in Oregon. Our licensee has paid the one time fee of $50,000 and has agreed to 10% monthly fee of gross revenues for the term of the agreement. Dennis M. Johnson, the licensee, stated, "I would like to move aggressively to open the flagship store in Eugene and additional Café Serendipity stores in Salem then Portland as soon as possible." We have engaged our strategic partner Herbfront, www.herbfront.com, to find the right retail location in Oregon. Also we are consulting with the law offices of Marc L. TerBeek, a leading authority in the legal cannabis industry to assist our licensees. Café Serendipity will use all of its strategic relationships from real estate, legal, human resources and product sourcing to put the store together from the ground up to fit our business model and use our proprietary store design that is represented on the website. The store size will be 2,500 to 3,000 square feet and will generate approximately $3 million per year in revenues.

"We expect to sign other licensees over the next few months to open additional flagship stores from the ground up in other markets," said Bob McNulty, Chairman of Café Serendipity. "We also see e-commerce opportunities within the legal marijuana space that the company is exploring."

"Café Serendipity has positioned itself for the legalization of recreational use stores to come on-line in 2016 for California. We believe that the regulatory environment between the Federal and States needs to improve so there is clarity between them that is conducive to building businesses with the proper banking foundation, card processing and real estate acquisition model that allows fundamental growth. We are very confident that these issues will be resolved by the regulatory bodies. This would allow for a more transparent growth strategy for the legal marijuana industry and the expansion of our business model."


http://www.otcmarkets.com/stock/CAFS/news/Cafe-Serendipity-Holdings--Inc--Announces-Signing-License-Agreement-to-Open-Flagship-Store-in-Oregon?id=110091&b=y