Tiger Reef Inc (TGRR)

[Werbe]

Disagree, they were just hit hard by IRMA. They had a big investment in the Simpson Bay Resort & Marina Mermaid Reef Ocean Grill & Lounge™. Had 2 scrap it. Now fully going in on Rum Venture. They were @ .17 this year my man..

Here is a video of the damage etc. https://vimeo.com/235096890

Tiger Reef was in the process of renovating a leased waterfront restaurant space in the Simpson Bay Resort & Marina in preparation of opening the first Mermaid Reef Ocean Grill & Lounge™ in time for the 2017 tourist season.  We were two weeks into renovating the restaurant space when Hurricane Irma struck.
Simpson Bay Resort & Marina and our restaurant location also suffered massive damage and flooding.  The following YouTube video shows the level of damage caused to this resort by Hurricane Irma: https://vimeo.com/235096890.
Management from both Tiger Reef and Simpson Bay Resorts & Marina have had multiple discussions since the storm regarding the future of the resort and restaurant.  It is estimated that the resort will be closed for a minimum of six months, probably longer, before it can resume accepting guests.
Based on this fact, as well as other uncertainties, Tiger Reef and Simpson Bay Resorts & Marina have mutually agreed to terminate the lease agreement for this restaurant space.  Tiger Reef will make a one-time write-off in the current fiscal quarter for its lost investment in this restaurant property.
As such, Tiger Reef is temporarily suspending all efforts related to the Mermaid Reef Ocean Grill & Lounge™ brand.  Tiger Reef will reevaluate its options for this brand in the coming months after the company recovers from the losses incurred as a result of this storm.