Baristas Coffee Company, Inc. (BCCI)

[BobSinCA]

Good to see some 2012 financials, thanks to mongo for finding.

With 657K in revenue through June 30, have to expect a shortfall versus the $6M projected for 2012 in the paid-for Prime Equity Research report, obviously due to a shortfall in store opening, none this quarter. With 50% of the company's revenue in G&A -- and key officers not taking salary -- store openings are a key to financial success. As a reference point, G&A is less than 10% for Starbucks.

Actually, there is a June 2012 balance sheet, and cash flow. The interesting thing is that apparently liabilities turned into shareholder equity, perhaps suggesting that the company was able to convince debtors to accept shares.

A good thing, IMO, since at the end of Q2 the company's cash position is less than 10 days of expenditures. I couldn't find the number of shares outstanding -- can you point to it -- will be interesting to understand the conversion price. Worst case, we should be able to impute that when the 2012 financials are published next winter.

And of course, will be interesting to see what happens when we have audited financials as part of the 'senior exchange' listing promised in the April PR.