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Yeah, but why? Don't they see what Ted and Syman are doing?
That 's a lot more than they issued!
Extremely low marketcap for a post national hemp beer seller.
SIPC Market Value: $3,788,541 a/o Oct 30, 2017
It's a 1 men's company. Burke is CEO, cfo and secretary. Tew is a consultant. Salaries paid in 3 month 42000. Issuing shares fort salary. No progress at all. No revenue, only promises. 0.0001 is too much. A fairy tale.
Burke is converting shares into salaries.
Sleeping Giant contract brewer info:
http://www.businessden.com/?s=sleeping+giant&x=0&y=0
Meritage Reports Third Quarter 2017 Results; Accelerating Sales and Earnings Growth
GlobeNewswire•October 17, 2017Comment
GRAND RAPIDS, Mich., Oct. 17, 2017 (GLOBE NEWSWIRE) -- Meritage Hospitality Group Inc. (MHGU), one of the nation’s premier restaurant operators, today reported financial results for the third quarter and the nine months ended October 1, 2017.
2017 Third Quarter Highlights:
Sales increased 40.3% to a record $86.6 million compared to $61.7 million for the same period last year.
Earnings from Operations increased 38.9% to $4.0 million compared to $2.9 million for the same period last year.
Net Earnings increased 34.9% to $2.7 million compared to $2.0 million last year.
Consolidated EBITDA (a non-GAAP measure) increased 60.2% to $8.0 million compared to $5.0 million for the same period last year.
“The Company’s restaurant sales grew over 40% in the third quarter, a marked acceleration. The quarter also presented some unusual sales and earnings challenges, as the Company had over 50 Wendy’s restaurants and many employees affected, to varying degrees, by hurricane Irma. Company restaurant operators and support teams were well prepared for the storm and managed the disruptions with a high degree of proficiency. Newly built and reimaged Wendy’s restaurants continued to provide a meaningful catalyst to sales growth, along with the integration of acquired restaurants contributing to overall sales growth. Looking ahead, sales remain strong and earnings growth for the year is likely to exceed the high end of the Company’s original 2017 full-year outlook,” stated Meritage CEO, Robert E. Schermer, Jr.
The Company has committed significant capital resources to the Wendy’s brand reimage initiative, and remains on schedule to complete over 25 renovations and/or newly built restaurant locations in 2017. Customers are continuing to reward us for the upgraded facilities and improved overall guest satisfaction.
2017 Nine Months Highlights:
Sales for the nine months ended October 1, increased 30.4% to $227.3 million compared to sales of $174.4 million for the same period last year.
Earnings from Operations increased 50.5% to $12.8 million compared to $8.5 million for the same period last year.
Net Earnings increased 64.3% to $7.5 million compared to $4.6 million for the same period last year.
Consolidated EBITDA (a non-GAAP measure) increased 64.1% to $21.9 million compared to $13.4 million last year.
Common stock cash dividends paid during the first nine months of the year represent a 40% increase over the same period last year.
Meritage continues to distinguish itself as a leader and platform innovator in the quick service restaurant segment, striving for best in class results through a performance based culture committed to operational excellence, strategic acquisitions and real estate development.
Original 2017 Full-Year Outlook: Continued Strong Growth Ahead
Sales growth of +30% to 40%
Earnings from Operations growth of +45% to 55%
Net Earnings growth of +45% to 55%
EBITDA growth of +35% to 45%
Common stock dividend growth of +30% to 40%
Meritage Hospitality Group is one of the nation’s premier restaurant operators, with 255 restaurants in operation located in Arkansas, Florida, Georgia, Michigan, Missouri, Mississippi, North Carolina, South Carolina, Ohio, Oklahoma, Tennessee and Virginia. Meritage is headquartered in Grand Rapids, Michigan, operating with a workforce of approximately 7,700 employees. The Company’s public filings can be viewed at www.otcqx.com, under the stock symbol MHGU, or the Company’s website www.meritagehospitality.com.
SAFE HARBOR STATEMENT
Certain information in this new release, particularly information regarding future economic performance and finances, and plans, expectations and objectives of management, constitutes forward-looking statements. Factors set forth in our Safe Harbor Statement, in addition to other possible factors not listed, could affect the Company’s actual results and cause such results to differ materially from those expressed in forward-looking statements. Please review the Company’s Safe Harbor Statement at http://www.meritagehospitality.com.
CONTACT:
Robert E. Schermer, Jr., CEO
Meritage Hospitality Group Inc.
(616) 776-2600
Exactly that's whats going on here for some years.
Our proposed share increase will facilitate accretive acquisitions, although we do not have any immediate targets, and provide capital for future funding of our operations,” added Mr. Burke.
I think he meant:
Our proposed share increase will facilitate accretive acquisitions, although we do not have any immediate targets, and provide capital for future funding of my salary,” added Mr. Burke.
3 months high !!!!!!
1 month high. Volume also!!!
SIPC Security Details
Share Structure
Market Value1 $3,492,981 a/o Sep 15, 2017
Authorized Shares 888,000,000 a/o Aug 15, 2017
Outstanding Shares 268,690,822 a/o Aug 15, 2017
-Restricted Not Available
-Unrestricted Not Available
Held at DTC Not Available
Float 220,737,488 a/o Aug 15, 2017
Par Value 0.001
Transfer Agent(s)
Interwest Transfer Co., Inc.
Shareholders
Shareholders of Record 713 a/o Aug 15, 2017
Security Notes
Capital Change=shs decreased by 1 for 5 split. Pay date=4-3-97
Capital Change=shs decreased by 1 for 1000 split. Pay date=8-24-07
Capital Change=shs increased by 2 for 1 split. Ex-date=10/09/2007. Rec date=10/09/2007. Pay date=10/09/2007.
Short Selling Data
Short Interest 17,163 (-56.92%)
Jul 31, 2017
Significant Failures to Deliver No
SAPA Coffee : Look at the customers reviews
https://www.amazon.com/dp/B06XRLJGFX
Excellent product with hemp from SIPC!!!
Most of those 33 bars not only selling MHBA but also SAPA Coffee.
Syman Vong: We are extremely excited about the next growth phase of our company and look forward to keeping our shareholders updated on our progress."
Moreover, demand is also strengthening for its premium line of CBD coffee blends. Orders have continued and increased from both online customers and local dispensaries. Having recently partnered with Sipp Industries (OTC Markets: SIPC), who acted as a distributor to place the CBD coffee into Colorado's dispensaries, Management was pleased to encounter the immediate selling out of its first purchase order. The partners are currently working diligently to fulfill subsequent orders.
Nice 5 year chart. Good company. Good management.
“The Company experienced strong sales and earnings growth in the second quarter, partially
driven by the successful integration of 57 newly acquired Wendy’s restaurants into our operating
platform late in the period. The Company is forecasting earnings acceleration from 69 newly
acquired restaurants in the second half of the year, and believes that the Wendy’s brand presents a
compelling long-term growth opportunity for the Company, as indicated by the continued
improvement in our system brand metrics.” stated Meritage CEO, Robert E. Schermer, Jr.
Revenue will rise. But how much?
A x %
B xx %
C xxx %
D xxxx%
That would be a market cap of 140 mln. It sure is possible. Revenue and profit is accelerating and management is executing very wel. I Like the insider ownership too.
Ted Jorgensen: a great business man
Syman Vong : a great CEO!!!
Today you have the answer. Excellent 2nd qtr. Great management team. Executing their business plan very well. I Like this and add more shares. Holding strong for many years.
An insider buying would give the investors a sign of confidence.
Otherwise we have to wait for the 2nd qtr sales/profit.
Chief Executive Officer Syman Vong concluded, "2017 has been an exciting year with multiple milestones and accomplishments met. We are extremely excited about the next growth phase of our company and look forward to keeping our shareholders updated on our progress."
Wanderport has growing sales on Amazon for their coffee blends:
https://wanderport-store.myshopify.com/blogs/news
Doubled my position!
New tweet SIPC. Updated list?
Top partners!!!!!!
Do they need an office?
Probably this software company has a mobile office.
That's why they sold their furniture.
Cannasys Inc (OTCMKTS:MJTK) A Top Turnaround Pick
https://www.insiderfinancial.com/cannasys-inc-otcmktsmjtk-a-top-turnaround-pick/123328/
About Patrick Burke
Patrick Burke is an entrepreneur with a taste for disruptive technologies. He sees an incredible amount of potential in Citizen Toke as an equalizing force for businesses and consumers in the cannabis industry. Marketing has been limited due to strict regulations and thus has been relatively confined to vertical integration. Citizen Toke has the potential to change the entire marketing facet of the cannabis industry. Mr. Burke received an MBA from the Smeal College of Business at Penn State University, University Park, Pennsylvania in 2016 and a Bachelor of Science in chemical engineering from University of Colorado College of Engineering and Applied Science, in Boulder, Colorado, in 2013. Mr. Burke has been a part of the Kushmoji team as chief operating officer, helping build the applications user base and relationships in the industry. He has also worked with one of the best web-design and digital marketing agencies in Denver, Buhv Designs, as a product development consultant.
https://buhvdesigns.com/
https://www.xooui.com/www/
Marketcap over 100 mln. Still a bargain.
SIPC is growing. They are seeking partners and team members:
-Distribution partners for their products www.majorhemp.com
-Sales Agents
Last year it was published May/17/16.
So i think within 2-3 weeks.
Expected earnings date: 5/8/17
Forward looking statements:
·
Our belief that our range of products and services at various price and performance levels, our research and development investments and capabilities, and our ability to design and manufacture products will enable us to compete effectively.
·
Our belief that our facilities and operations are within standards fully acceptable to the Environmental Protection Agency and that all facilities and procedures are operated in accordance with environmental rules and regulations, and international, federal, state and local laws.
·
Our belief that our existing sources of liquidity, including marketable securities, will provide sufficient liquidity to meet our obligations through 2017 and beyond.
·
Our belief that our ability to include the wide range of complementary products offered by E&S and Spitz in the systems we sell, along with access to the legacy customer base of E&S and Spitz, provides a unique competitive advantage.
·
Our expectations for variable future sales and gross profits from our current product line at annual levels sufficient to cover or exceed operating expenses.
·
Our belief that an improved financial position as a result of relief from the burden of the Pension Plan may present opportunities for better results through the availability of credit and stronger qualification for customer projects.
·
Our belief that any potential shortfalls in our forecasted revenues would be within a range whereby we could reduce variable costs in order to meet our 2017 obligations.
·
Our belief that the business has the potential for long-term profitability without the burden of the Pension Plan.
·
Our belief that capital expenditures during 2017 will be similar to the capital expenditures incurred during 2016.
·
Our belief that the effects of inflation will not be material for 2017.
·
Our belief that approximately 75% of our backlog will be converted to sales in 2017.
·
Our belief that our 2016 orders will continue at a level sufficient to recognize sales in 2017 comparable to 2016.
Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. Our actual results could differ materially from these forward-looking statements. Important factors to consider in evaluating such forward-looking statements include risks of product demand, market acceptance, economic conditions, competitive products and pricing, difficulties in product development, and product delays. In light of these risks and uncertainties, there can be no assurance that the events contemplated by the forward-looking statements contained in this annual report will, in fact, occur.
Last stock holder letter is dated April 26, 2016.
http://finance.yahoo.com/news/cannasys-ceo-issues-stockholder-letter-123800764.html
A new one soon?
MJTK 0,0042 + 31,2%
Key Executives
Mr. Robert E. Schermer Jr. Chief Exec. Officer and Director
Mr. Gary A. Rose Pres and Chief Operating Officer
Ms. Tracey Smith Chief Financial Officer and VP
Mr. Jeff VanHaitsma Director of Organizational Devel.
Ms. Lindsay Stone Director of Marketing
Thank you for doing such a great job!!!!
I'm a happy long shareholder
2017 First Quarter Highlights
Sales increased 14.7% to a first quarter record $62.0 million from $54.1 million for the same period last year.
Earnings from Operations increased 106.3% to $3.4 million compared to $1.7 million for the same period last year.
Net Income increased 244.7% to $1.9 million compared to $541,000 for the same period last year.
Consolidated EBITDA (a non GAAP measure) increased 81.3% to $5.3 million compared to $2.9 million for the same period last year.
The Company acquired 8 Wendy’s restaurants in March and 4 in April, and has an additional 57 Wendy’s restaurants under definitive agreement to be acquired in four Mid-Atlantic States during the second quarter of 2017.
Yesterday they added 3 more serving points MHBA!!
https://twitter.com/SippIndustries
As i read this somewhat old news i must admit Mr Vong is executing very well.
Looking forward to see the progress in the next quarters
Marketcap of 60 million this year is conservative.