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Thursday, May 07, 2015 2:41:14 PM
At least in 2014.
Q1 2015 financials, due to be filed April 15, have not yet been filed, so don't know how Q1 went; but, given time of year should be the best quarter -- was last year. Also not filed -- an NT (for Not Timely) 10-Q, saying why the filing was not made. This is quite concerning from a cash perspective, as the Q3 14 10-Q was also late, but a timely NT 10-Q was filed and the actual 10-Q was only three days late.
The real promise for this company is with its BMOC affiliation, where that company is creating a 'new' Baristas brand for malls:
- family oriented, not 'racy'
- restaurant, not coffee +
- mall, not drive through
Two such locations have opened, and at least 2 - 5 more appear to be in the pipeline. There have been no public statements as to the volume of business achieved in the open locations, so royalty projections are difficult at best. However, as a reference point even $10M in annual mall revenues for BMOC will not be enough to bring BCCI to profitability alone, though the cash flow situation will dramatically improve.
The company did announce white coffee K-cups in February, and has advertised them in Country Weekly, but has not achieved any distribution as yet. Even the announced Amazon distribution was not completed when committed, again suggesting cash problems.
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