Savvy Trades and Investments

[zenvesting]

FCCG: Fog Cutter is definitely an ironic name given their current situation.

I don't have anything recent, but GEOInvesting has submitted an information request through the State of Maryland to try to get updated information, which one should expect will be distributed to their subscribers first, then possibly to the Microcap Club, where I learned about this situation.

For lack of current financials, I believe there are a few clues in the 1A filing that through deductive reasoning, suggest FCCG financials must at least be in fairly good shape:
- The fact they were approved for the financing of the Ponderosa/Bonanza purchase and this related party debt will be repaid to FCCG by IPO proceeds;
- The fact that FCCG is the mechanism of ownership that CEO Andy Wiederhorn will maintain his ownership stake in FAT;
- The fact FCCG has been receiving dividends from Fat Burger North Amerca, Inc.:
During the 26 weeks ended June 25, 2017, Fatburger North America Inc. declared and paid dividends in the amount of $1,000,000 and none for the 26 weeks ended June 26, 2016, and $1,700,000 and $7,000,000 during the years ended December 25, 2016 and December 27, 2015, respectively. During the 26 weeks ended June 25, 2017, Buffalo’s Franchise Concepts Inc. declared and paid dividends in the amount of $100,000 and none for the 26 weeks ended June 26, 2016, and $200,000 and $400,000 during the years ended December 25, 2016 and December 27, 2015, respectively.