Gourmet Provisions Intl Corp (GMPR)

[PerlmutterCohnSec]

UPZS (02/2013): Back To The Future..

VERY INTERESTING FACTS THAT PERTAIN TO TODAY

James Vowler, Founder & CEO - UPZS said that their primary source of revenue will be franchise contracts.

INTERESTING FACT

UPZS was incorporated in 2003
UPZS have been in the pizza restaurant business since 2006


FACT: They had yet to realize their first penny in revenue

FILINGS (2012 Q3:


Cash: $530
Current Assets: $115,000
Current Liabilities: $5.49 million
Net Loss: $4,302
Accumulated Deficit: $5.6 million


MORE INTERESTING (Sound familiar)


Press-release dated March 2012 stated:

"UPZS have signed a massive franchise contract according to which more than 20 stores were supposed to be opened under the Unique Pizza brand"

When the financial report was filed some 6 months later:


NO sign of any stores being opened
NO sign of any franchise fees being paid

- MEANS that either the contract was terminated or it never existed

UPZS had 2 notes payable that were OVER DUE


LEGAL TROUBLES (which expand into today)

UPZS has been in the court room on a number of occasions being sued by former employees and other companies.


Total amount they owe plaintiffs: $201,000


HOW DOES JAMES VOWLER RESPOND TO THESE LEGAL MATTERS?


They spent around $2,000 on travelling and entertainment (much like he did during the 2018 Super Bowl. He had treated his family to a vacation week to Minnesota -- PAID for by UPZS)