Bagger Dave''''''''s Burger Tavern (BDVB)

[Rave11]

Very interesting. Thanks for the heads up, Fidel. I have no shares in either one yet. But I am in NROM, where BT Brands bought more of that company's shares. And issued a PR if you do a google seearch of BT Brands and Noble Roman's. Looks like they are going to be a thorn in the side of the BOD over there. And I welcome them and hope they wrestle their way onto the board there or somethign else.

What's your thoughts on BT's mgmt? And is your proposal of the shares here being converted to BT's shares in a PR or a filing somewhere? I'm pretty ignorant of what's going on here. Would love any light and thoughts you want to share.

[Fedel]

See where BTBD shares are rising. I think they will soon merge all the acquired assets, including BDVB, since they have 11 million shares of BDVB. Shareholders will receive BTBD shares. Very soon!

[Fedel]

See where BTBD shares are rising. I think they will soon merge all the acquired assets, including BDVB, since they have 11 million shares of BDVB. Shareholders will receive BTBD shares. Very soon!

[Rave11]

Very interesting company. Micro cap. I was brought to your attention by this surprise filing yesterday on my micro cap company NROM:

https://seekingalpha.com/filing/6925306

BT Brands has now been buying my company and may be seeking the same type of control. I would love for them to replace our BOD which is a bad case of nepotism. They've been at the helm since the early 70s and we are still market cap not much higher than yours.

I like the value of BT Brands and your company, as well as NROM. I think all 3 are looking like good value. Maybe all 3 will merge into BT eventually. Some highlights on the filing above:
_______________________________________________
Some excerpts:

1. Item 4. Purpose of Transaction
Mr. Copperud has been involved in the restaurant industry for more than 15 years as an executive of BTB. Mr. Copperud began acquiring and selling his shares of Common Stock for investment purposes believing that the Common Stock represented an investment opportunity. In July 2022, Mr. Copperud discontinued effecting transactions in the Common Stock for his personal account and, in his capacity as an executive officer of BTB, advised BTB to start acquiring Common Stock for the same reason.

2. The Reporting Persons have previously engaged in a discussions with a member of the Board of the Issuer regarding possible financing alternatives
available to the Issuer, including a discussion by the Reporting Persons (and certain of their affiliates) as to possible approaches to refinance on better terms the
Issuer’s $8.5 million senior secured promissory note that bears interest at the rate estimated to be approximately 18% per annum requiring the Issuer to make
monthly payments of $33,000 beginning in February 2023. Nothing discussed by the Reporting Persons constitutes a current or present plan or proposal of the
Reporting Persons (or any of their affiliates) with respect to the Issuer.
___________________________________________________

May I ask y'all's thoughts on the former mgmt. and now your new BOD? I'd appreciate the good, bad, and ugly. Hold nothing back please.

Your units are priced at $500,000 each. That seems a steal. Both you and BT Brands have a strong current ratio. Good cash on the books relative to size. Sleepers for now, but BT Brands seems like they've been aggressive with growth this year after a private placement. They haven't been public very long. I'm interested...

[Fedel]

Excellent! I was also able to take some. I will continue to look to buy at these levels 0.11-0.12

[traderjer]

Bought more at .1167.

[Fedel]

Investors want to buy at $0.13, but there are no sellers. 44% of the shares from the new owners. The rest belong to investors who entered the market at higher prices (30-50 cents per share). Therefore, there will be little sales at these levels. New shareholders did not come for 10-20% profit, they came for a long-term game and big profits. I think we can see a price of 0.30-0.50$ soon. I will try to buy everything below $0.15.

[traderjer]

I concur! 11.4 cents is the starting point.

[Fedel]

Wow! A major shareholder has bought all the shares that belong to the creator and the directors! More than 11 million shares. Now BDVB is in the hands of a strong management team! They will raise the level of restaurants and increase the value of the company. I would estimate 6 restaurants at 6-10 million dollars. So, the growth of stocks is not far off and will come in the near future. The starting point is $0.114.

[Fedel]

Profit of 5 cents for 2021, that's great! The company becomes profitable! Now she looks good for ransom!

[traderjer]

Added this week under a dime!!

[traderjer]

Going Concern, accounting note, was dropped in the Q3 report!
It was note (12) for 6 previous quarters.
We are a Going Concern!
We keep adding shares.

[ErnieBilco]

It's beyond time for Ansley to put out a PR detailing the state of the restaurants and whether the "we'll do it too" pizza concept is adding value because it sure as hell ain't reflecting in the share price.

This has always been Ansley's downfall, he never promotes his companies and that is plain foolish. One well worded PR could kick this stock in da azz and get it moving again but he would rather let is rot at current levels, makes no sense.

[traderjer]

The new menu and hot oil pizza are now available at 2 MI locations. Cascade and Birch Run. Still accumulating.

[traderjer]

Added shares, averaged up a bit.

[Fedel]

Updated website. Expanding the menu, buying 5,000,000 CEO shares . Isn't this like preparing to sell a business? The company looks delicious, even with 6 restaurants.

[traderjer]

Me neither, still accumulating, still undervalued.

[ErnieBilco]

I'm a seller but not down here.

[traderjer]

Today’s action is likely to bring out sellers. Maybe an opportunity for further accumulation.

[ErnieBilco]

I only see pizza in a single MI location

[traderjer]

Agree. Rare setup here.

[Fedel]

They updated the site. And also added pizza to the menu. They also made a profit , which is a good start. The CEO invested his funds in exchange for shares. This is a good time to start buying.

[traderjer]

Bagger Dave’s. Reopening reimagined. Hot oil tavern pizza.
Lots of cash. CEO is focused. Tiny float. Delicious.

[Philosophical Trader]

Burgers! #nomorecovid BDVB

[MikeyInTheD]

I drove by a location that was actually still open and looked fairly busy this weekend in Michigan. I assumed they were all closed. Could be value left here if someone wanted to expand the regional footprint. Maybe one of the larger players would want to expand into Bugers - Darden maybe?

[ErnieBilco]

Q2 - What a massacre, but was expected since its Michigan

[traderjer]

Take it private now for a song, like 10-12 cents. Opportunity of a lifetime for CEO Ansley.

[ErnieBilco]

Annual report out today.

https://backend.otcmarkets.com/otcapi/company/financial-report/242374/content

[ErnieBilco]

Looking lower as all restaurants are getting killed by the no dining rules. Michigan is due to be hit hard by the virus as are most DNC enclaves. I think it is God's payback.

[traderjer]

Ouch. Need to hear something good from CEO Ansley.

[traderjer]

Buying!

[traderjer]

SAUC deal closed. Expect to hear something about future of BDVB soon, as well as quarterly earnings and 2019 annual report.

[traderjer]

Merger arbitrageurs are involved in SAUC so this indicates that deal should be closing soon and they can collect their 50-150 basis points and BDVB gets Mr. Ansley back full time.

[traderjer]

Continuing to accumulate BDVB shares while waiting on the SAUC deal to close. Then CEO Ansley can address BDVB with last quarter’s results and future plans. That may bring greater liquidity and comments on this board.

[ErnieBilco]

It's always been a very silent board. I like the long term potential once Ainsley starts a buildout of whatever Bagger Dave will wind up being.

[MikeyInTheD]

Where did the interest in this stock go the past couple weeks? Board has been as silent as the company is with releasing news.

[MikeyInTheD]

Tempted to sell after a 46% gain after holding this just a few days. Not often you catch such a nice gain on light volume with new real news outside of maybe a stock in the trips. I’m thinking we will see a couple days of strong volume and this will be off to the races. Waiting until .12 to trim - there is just too much room to run still.

[MikeyInTheD]

Not many shares available. Little reason to sell with potential for positive news. People will continue to pay up for shares.

[MikeyInTheD]

I could see a buyout offer of .40 if they were looking to go private. But with the low float I could see them doing a significant issuance to raise cash and make a transformative transaction for revenue while remaining public. If this remains public they will need to uplist. All signs point to buy now and trim on the way up to .35 to lock in some gains. A big volume day coming in the next week that will drive this to much higher levels.

[Fedel]

This is starting to gain momentum. I'm not sure that it will grow quickly, but I'm sure it will rise high! Even if it takes 1-2 years, but this company and the share price can give growth of 400-500% or more from these levels. But what if this company is bought back? It will be interesting!

[traderjer]

Yes and that’s probably fair considering cash on hand last quarterly and what it would take to get 8 restaurants going again. I would go for that as an immediate buyout but would really be more interested in being a shareholder longer term.

[ErnieBilco]

If you go back far enough they floated the buyback idea at .29 per share.

[traderjer]

All great points to consider. I’ve been involved a long time from BDAV to SAUC to BDVB. This is now an exciting set-up. Re: restaurant closings, a smaller location footprint is much easier to re-stage. More restaurants would be a liability. Re: concept, Bagger Dave’s is a great name for carry-out and delivery, the growth vector in fast casual. Re: Ansley, I know what it’s like when you can’t “get to” work on your baby. Upon closing he can finally do this. He will have about 11MM cash. He could buy us out or take us with him. He can’t walk away because shareholders have rights and he is a target for lawsuits given his cash position. Shares are limited and Ansley can create a lot of value for himself if he can turn BDVB around. He’s worked cash flow magic at BDVB while getting SAUC sold. I’m watching for the next key milestone which is The SAUC deal closing. And also looking for liquidity, with far more shares trading daily.

[MikeyInTheD]

I don’t know if I’d call SAUC a success for longterm shareholders. The stock was in free fall and company would have likely been delisted if they didn’t get a buyout offer. I believe in the model he built but it didn’t translate into success for shareholders. I hope you’re right on Bagger - I may start a position as a lotto ticket.

[ErnieBilco]

He will focus on this but not necessarily the Bagger Dave concept. He can build this like he built SAUC's success. Mike has been in this business a long time and could easily add other concepts under the BDVB stock ticker............ That's where the real value will come from.

He will find another concept that is up and coming and leverage his knowledge to bring up a concept that may not even be in franchising stage yet.

At a nickel I don't see why more shares aren't trading.

Stick with Mike and you will make money.

JMO having started with DRH @ .30 a share

[MikeyInTheD]

Do you think Ansley will focus his attention here or try to start from the ground up with a new concept without balance sheet problems? I know he once believed in Bagger Daves but the concept has really lost its luster and goodwill with customers. They’ve closed almost all locations and the concept seems broken. Everywhere sells craft beer and more seasoned burger-chain operators are struggling. I don’t know that Bagger Daves has a first-mover advantage anymore with craft beer. Red Robin is struggling and they have a bigger footprint and better executives. Why will Bagger Daves succeed? How many locations do they need in order to stabilize the balance sheet and cover fixed corporate overhead?

[traderjer]

The SAUC annual meeting is tomorrow! Look for a successful vote for the sale to ICV Partners and maybe some guidance on the deal closing date. Upon closing, BDVB regains the full attention of CEO Ansley and hopefully better things to come!

[Fedel]

Everything has its time. The company is still underestimated. The leader and creator will close the deal soon and completely immerse themselves in the BDVB workflow. Patience!

[traderjer]

Bagger Dave’s deserves a great carryout and delivery interface to strengthen its concept, add ample incremental sales and turn a profit. The name Bagger goes well with food to go.

[traderjer]

DRH (SAUC) is guarantor for a number of BDVB leases. As SAUC is being sold to private equity, how will these guarantees be transitioned?