BurgerFi International (BFI)

[trader53]

BurgerFi $0.29 - Might Go Bankrupt


https://finviz.com/quote.ashx?t=BFI&p=m

https://www.restaurantdive.com/news/why-burgerfi-considering-bankruptcy/724551/

https://www.zerohedge.com/markets/burgerfi-might-go-bankrupt

_________________________________________________

BurgerFi’s financial situation is only getting worse.

It expects to report net losses of $18.4 million for the quarter ending July 1 compared to a $6 million loss during the same period in 2023. The increase was driven primarily due to lower operating income, higher general and administrative expenses and larger restructuring costs.

The company had $4.4 million in cash and cash equivalents as of Aug. 14.

The chain also expects to report restaurant sales declines of $1.8 million, or 4% year-over-year, last quarter.

This was driven largely by same-store sales declines at BurgerFi and sister brand Anthony’s Coal Fired Pizza and Wings.

The company said it closed underperforming BurgerFi- corporate locations, but the filing didn’t say how many locations were shuttered.

If the company’s senior lender declares that debt is due and payable immediately, the company would be unable to repay, and “the lender could foreclose on its security interest and liquidate or take possession of some or all of the assets of the company and its subsidiaries,” according to the filing.

This would require the company to curtail or cease operations.

“There is no assurance that the Company will be able to restructure its obligations, obtain additional financing, and/or sell assets on terms and conditions that will permit the Company to meet its current obligations,” BurgerFi added.

The chain secured an emergency protective advanced agreement with its lenders of $2.5 million earlier this month, but that is nowhere near enough to sustain operations with growing losses.

BurgerFi, which went public in 2020 following a merger with a SPAC, has struggled during the last few years as its net losses have persisted. In 2022, net losses topped $100 million, before improving to $30 million last year.

In 2023, the chain hired Carl Bachmann as CEO and Christopher Jones as CFO to help turn around the business.

________________________________________________________

https://www.stockscores.com/charts/charts/?ticker=BFI


Live! Charts

[Monksdream]

BFI 10Q due AUGUST19

[Jaxxm]

BFI getting ready

[knrorrel]

nice now and today 👍

[Jaxxm]

Inch by inch going up, nice accumulation

[Jaxxm]

Agree

[peterus]

lol.....first try to break 1s

[Jaxxm]

Then 3, 5, 7, 10 dollars share price big possibility

[peterus]

yup sooner or later we wil get $1+

[PEACHMAN]

IFUS is a longer term hold with game changing products that owns their property and manufacturing plant.

It has leveled off .08 and expected to rise as house and senate bills past document scientific results

[Jaxxm]

BFI first 1 DOLLAR+

[Jaxxm]

Smart CEO and turnaround story just kicking off

Current CEO Carl Bachmann appointed last year is very experienced and cleaning the roadblocks. He was previously served as the president of Smashburger, where he led the brand to significant growth. His leadership at BurgerFi is seen as a turnaround mission, with initial priorities including enchancing employee training, upgrading the menu, and redefining the brand's portfolio. Bachmann's strategy includes focusing on the 3 Ws: win for guests, win for team members, and win for shareholders. He plans to implement a proven playbook that includes improving infrastructure, ensuring high food quality, and effective marketing. His approach aims to address past challenges faced by BurgerFi, such as market oversaturation and leadership turnover, and to position the brand for sustainable growth.
https://ir.burgerfi.com/company-information/presentations

[Jaxxm]

BFI 27.4 MILLION O/S, 12.35 MILLION FLOAT

[knrorrel]

Let's hope the smart CEO knows that a little nice news or update would help initiate an upward swing

[knrorrel]

Can you set the current structure here, what is the current "good" structure / float ?

[knrorrel]

https://www.stockscores.com/charts/charts/?ticker=bfi

[knrorrel]

a good news would help to lift the stock a little more towards the dollar

[knrorrel]

may good news this week ?

[knrorrel]

may this week - UP

[knrorrel]

i hold still always

[peterus]

hope so

[Jaxxm]

After hours run and squeeze

[Jaxxm]

BFI volume increases reversal started Burgerfi company once was 15 dollars share price 14 milliontiny float

[BigBadWolf]

When $BFI’s downturn began (start @ bottom) & for all to see how long they have
Date Close/Last Volume Open High Low
02/01/2024 $0.58 119,510 $0.6048 $0.6048 $0.575
01/31/2024 $0.605 110,182 $0.65 $0.655 $0.60
01/30/2024 $0.6561 39,347 $0.6725 $0.6899 $0.64
01/29/2024 $0.689 25,563 $0.67 $0.69 $0.67
01/26/2024 $0.674 12,606 $0.66 $0.68 $0.6501
01/25/2024 $0.645 46,074 $0.6899 $0.6899 $0.641
01/24/2024 $0.6948 25,341 $0.68 $0.6998 $0.68
01/23/2024 $0.671 22,561 $0.68 $0.694 $0.665 (30 day mark)
01/22/2024 $0.691 38,909 $0.725 $0.725 $0.6705
01/19/2024 $0.71 25,684 $0.707 $0.7165 $0.695
01/18/2024 $0.7161 57,922 $0.66 $0.7374 $0.64
01/17/2024 $0.65 98,897 $0.69 $0.69 $0.621
01/16/2024 $0.699 134,306 $0.70 $0.7468 $0.66
01/12/2024 $0.7113 103,463 $0.745 $0.75 $0.692
01/11/2024 $0.7401 92,842 $0.769 $0.7699 $0.727
01/10/2024 $0.7649 80,534 $0.78 $0.79 $0.755
01/09/2024 $0.7887 94,803 $0.84 $0.84 $0.78
01/08/2024 $0.83 110,823 $0.795 $0.8922 $0.785
01/05/2024 $0.7997 83,183 $0.77 $0.7999 $0.77
01/04/2024 $0.79 153,167 $0.816 $0.8211 $0.76
01/03/2024 $0.7749 138,352 $0.82 $0.8255 $0.7522
01/02/2024 $0.814 127,755 $0.88 $0.88 $0.786
12/29/2023 $0.8599 98,786 $0.93 $0.93 $0.85
12/28/2023 $0.9173 114,604 $0.95 $0.96 $0.91
12/27/2023 $0.94 81,889 $0.86 $0.944 $0.854
12/26/2023 $0.8701 63,241 $0.86 $0.88 $0.83
12/22/2023 $0.8426 88,212 $0.8328 $0.85 $0.821
12/21/2023 $0.8475 98,204 $0.86 $0.92 $0.825
12/20/2023 $0.8651 78,193 $0.85 $0.875 $0.84
12/19/2023 $0.869 129,291 $0.88 $0.8899 $0.84
12/18/2023 $0.8887 95,902 $0.89 $0.9099 $0.865
12/15/2023 $0.89 85,971 $0.96 $0.97 $0.885
12/14/2023 $0.95 76,345 $0.93 $1.00 $0.91
12/13/2023 $0.93 76,309 $0.90 $0.945 $0.88
12/12/2023 $0.9045 113,732 $0.955 $0.955 $0.90
12/11/2023 $0.9502 46,255 $0.9601 $0.97 $0.9501
12/08/2023 $0.9607 92,215 $0.97 $0.97 $0.95

All Nasdaq-listed companies must maintain compliance with the bid price rule, which requires a company's bid price to remain at or above $1 per share. If a company's bid price drops below $1 for 30 consecutive days or more, it receives a deficiency notice from Nasdaq and has 180 days to cure the deficiency.Jul 10, 2024

Under certain circumstances, to ensure that the company can sustain long-term compliance, Nasdaq may require the closing bid price to equal or to exceed the $1.00 minimum bid price requirement for more than 10 consecutive business days before determining that a company complies

If a Company listed on the Capital Market is not deemed in compliance before the expiration of the 180 day compliance period, it will be afforded an additional 180 day compliance period, provided that on the 180th day of the first compliance period it meets the applicable market value of publicly held shares

https://hselaw.com/news-and-information/legalcurrents/proposed-nasdaq-rule-could-narrow-options-for-companies-with-1-bid-price-deficiency/#:~:text=All%20Nasdaq%2Dlisted%20companies%20must,days%20to%20cure%20the%20deficiency.

[peterus]

think people waiting for earnings

[peterus]

think next week earnings

[Jaxxm]

After hours run and squeeze

[Jaxxm]

That is why I am thinking this stock can see multi dollars share price

[peterus]

yup new ceo is a smart man

[Jaxxm]

I like this news: Scoop Up Sweetness on National Frozen Custard Day at BurgerFi®

FORT LAUDERDALE, FL, August 06, 2024 /24-7PressRelease/ -- BurgerFi®, owned by BurgerFi International, Inc., invites you to chill out this National Custard Day with a sweet offer. On Thursday, August 8, 2024, guests can cool off from the summer heat by adding a small Vanilla Frozen Custard for only $2 to any dine-in purchase.

"National Custard Day provides us with a fantastic opportunity to celebrate BurgerFi's exceptional frozen custard, such as our beloved vanilla custard cup. Guests rave about our frozen treats, and these unique holidays allow us to celebrate with our Fi-natics," said Carl Bachmann, Chief Executive Officer for BurgerFi International. "We want our guests to indulge with a cup of this sweet treat and at a good value."

BurgerFi's frozen custard desserts–including its sensational custard shakes, are made with high-quality ingredients, including a milk supply that is free from steroids and bovine growth hormones.

"The secret for a delicious custard lies in the addition of egg yolks, making it richer and creamier than ice cream," said Cindy Syracuse, Chief Marketing Officer. "At BurgerFi, we craft our frozen custard desserts to deliver that ideal, indulgent creaminess. It's the perfect way to cool off and treat yourself in this summer heat."

The National Custard Day offer will be available all day at participating BurgerFi locations for dine-in customers only. This offer is not valid for online pickup, phone orders, app orders, delivery, or third-party delivery services.

For more information about BurgerFi,?visit?www.BurgerFi.com?or follow them on Facebook or Instagram @BurgerFi. BurgerFi offers dine-in, takeout, and online ordering for pickup or delivery via the BurgerFi App and website. The app is available through the App Store or Google Play.

About BurgerFi International (Nasdaq: BFI, BFIIW)?
BurgerFi® is chef-founded and committed to serving fresh, all-natural and quality food at all locations, online and via first-party and third-party deliveries. BurgerFi was named "The Very Best Burger" at the 2023 edition of the nationally acclaimed SOBE Wine and Food Festival, awarded #1 "Best Fast Food Burger" in USA Today's 10 Best Readers' Choice Awards, "Best Fast Casual Restaurant" in USA Today's 10 Best 2024 Readers' Choice Awards for the fourth consecutive year, and Fast Casual's Top Ten Brands for 11 consecutive years.

[Jaxxm]

BFI this time 1 DOLLAR plus imho

[Jaxxm]

BFI will skyrocket again time to load imo

[peterus]

market sucks ... flip flip flip .... short short short

[knrorrel]

I didn't think that the last news would be forgotten so quickly and that people would sell again so quickly, too, I hoped that the stupid short players would be active in other stocks but not in this real stock, which shouldn't be worth less than a dollar and why people now forget the good news and sell within a few days, I can't understand anyway, I can't understand with any stock why good news is forgotten so quickly and stocks don't rise for weeks these days

https://ih.advfn.com/stock-market/NASDAQ/burgerfi-BFI/stock-news/94255147/burgerfi-reaches-legal-settlement-agreement-with-l

[knrorrel]

I didn't think that the last news would be forgotten so quickly and that people would sell again so quickly, too, I hoped that the stupid short players would be active in other stocks but not in this real stock, which shouldn't be worth less than a dollar and why people now forget the good news and sell within a few days, I can't understand anyway, I can't understand with any stock why good news is forgotten so quickly and stocks don't rise for weeks these days

https://ih.advfn.com/stock-market/NASDAQ/burgerfi-BFI/stock-news/94255147/burgerfi-reaches-legal-settlement-agreement-with-l

[knrorrel]

yes

[peterus]

need news

[Jaxxm]

Accumulating before the next run

[BigBadWolf]

Date Close/Last Volume Open High Low
08/06/2024 $0.4008 1,210,088 $0.415 $0.4285 $0.381
08/05/2024 $0.3945 2,121,155 $0.345 $0.46 $0.3401
08/02/2024 $0.4511 4,195,266 $0.5101 $0.54 $0.4222
08/01/2024 $0.5045 12,835,980 $0.6425 $0.6489 $0.4551
07/31/2024 $0.5649 36,975,690 $0.5401 $0.79 $0.54
07/30/2024 $0.56 25,394,070 $0.44 $0.6529 $0.40
07/29/2024 $0.4704 37,035,570 $0.481 $0.551 $0.4065
07/26/2024 $0.4205 313,590,900 $0.3377 $0.77 $0.29
07/25/2024 $0.2131 18,708,620 $0.1994 $0.2299 $0.1994
07/24/2024 $0.2024 244,654 $0.20 $0.21 $0.195
07/23/2024 $0.217 1,730,158 $0.1986 $0.255 $0.1933
07/22/2024 $0.2001 135,899 $0.2044 $0.21 $0.1922
07/19/2024 $0.201 110,655 $0.2125 $0.2125 $0.195
07/18/2024 $0.2139 161,746 $0.213 $0.2199 $0.206
07/17/2024 $0.2132 365,469 $0.212 $0.2289 $0.202
07/16/2024 $0.2073 516,756 $0.2019 $0.2144 $0.1931
07/15/2024 $0.1931 494,500 $0.199 $0.2099 $0.183
07/12/2024 $0.1923 249,701 $0.19 $0.2011 $0.184
07/11/2024 $0.1915 215,364 $0.196 $0.198 $0.179
07/10/2024 $0.181 144,604 $0.18 $0.19 $0.178
07/09/2024 $0.18 165,819 $0.185 $0.1899 $0.1751
07/08/2024 $0.1848 186,213 $0.1799 $0.19 $0.1772

Appears the time to buy was ........earlier in the last month of trading
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174864578

care to guess when.... https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174815391
....load prior to posting

GLTA still in as I await another bottom to see if there is a possible 2nd entry

[peterus]

nope you out

[BigBadWolf]

$BFI

[BigBadWolf]

https://ir.burgerfi.com/sec-filings/all-sec-filings

[BigBadWolf]

Market order sell was placed Friday right @ close of market. Executed w/i 60 seconds of the early open to lock in profits.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174864578

Only regret not selling all prior to today as I hate leaving profits on the table.
Now looking for the bottom priced value deals across the market.

GLTA

[Jaxxm]

Yep

[BigBadWolf]

& falling. The market is going to be a real nail biter today & will be looking to find rock bottom deals on longer term holds aka real investments.

[Jaxxm]

Wow came to the level the first time I have loaded

[BigBadWolf]

Pre Market BFI BurgerFi International Inc 0.3632 -0.0879 (-19.49%)
Volume: 205,974
Bid: 0.363 Ask: 0.3715
Last Trade Time: 8:04:32 AM EDT

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[BigBadWolf]

Love what I’m holding now after the last run lowered my cost average to almost free in just the same day of entry.

Holla Holla for those dollas

[Jaxxm]

holding for multi dollars share price

[BigBadWolf]

After hours $BFI 0.46 (0.4599) @ 8pm previous close .50