Replies to post #37 on Fog Cutter Capital Group Inc. (fka FCCGD)

[zenvesting]

Yes, the status of the balance sheet is unknown since the last quarterly report was filed in 2010, but Andy Wiederhorn's interest seam to be aligned with Fog Cutter Capital, so it seams logical that the sale of the Fatburger business would have covered all the associated liabilities. There was also some news of a debt settlement on 11/2/2012:
http://www.oregonlive.com/business/index.ssf/2012/11/andy_wiederhorns_fog_cutter_ca.html

I think another reason for the discount is the uncertainty of Andy Wiederhorn's intentions. The FAT IPO was a pretty smart way to recapitalize Fat burger for expansion, but what's the goal for FCCG? Will FCCG accumulate the dividends to build a capital pool for another investment, will management just pay themselves FAT salaries, or would they actually treat all shareholders equally and redistribute the dividends to FCCG shareholders?

I personally can't understand how investors could read the 1A filing and still buy the FAT IPO given all their dependence on FCCG and all the uncertainty around FCCG. For me personally, it made me want to play FCCG, because I believe Andy Wiederhorn needs to come out of the dark and play fairly with all his shareholders if he wants to be true to the character he portrayed in his Undercover Boss episode....and honest guy who just took some bad advice.....