Financials released
I noticed that financials were updated to OTC today.
Through 9 months the company has $613,229 in Sales and $538,928 in losses. The Miami location did better than that.
It looks like 2 locations produced the 613K in revenue (Full Moon and White Flag) So in 9 months, 2 locations made 613K. Anyone know how big the two locations are? That averages about $1100 per day per location. Far from 1.2 million for the Full Moon (3,287 for just one location).
February 25, 2016
"Opus Properties Corp, an Oklahoma corporation, with offices in Broken Arrow, OK, has already merged its first Mexican brand restaurant, the Full Moon Café in Broken Arrow, into the Company, with average yearly sales of $1.25 million for the past three years and a track record of profitability.
March 22, 2016
"The new CEO, Mr. Wilkerson, stated, "Based on the latest year-end financials, the combined revenues of these two restaurants is slightly over $2 Million per year, which I believe will increase substantially with aggressive marketing and menu changes that represent GRLT's commitment to serve quality healthy food."
And strike 3.....
On June 17, 2016, acquired 2 restaurant operations for $ 2,073,175, in central Tulsa. One location is White Flag, a bar and grill that features primarily hamburgers and offers evening entertainment. The second location is, Joe Momma’s, well known for its pizza offerings. Prior to the purchase this location suffered a major fire loss, but is adequately covered by insurance.
2.0 Million should produce at least $500,000 in profit for a 4 ROI. This is a failure... What a mess this is. Restaurants need to produce at least a 10% return to be worth anything....
