I believe the numbers are much higher than that as well. We'll only know the facts when we see an 8-K or better yet, a 10-Q (around mid-August).
From a previous GSCR shareholder letter:
In addition, as reported in the news media WiseBuys has been in lengthy discussions with Hackett's (http://www.wisebuysstores.com/news/Adirondack_Daily_06-22-07.pdf) regarding a possible merger or acquisition. If such transaction were to be finalized, the combined company would have ten (10) locations and pro forma annual revenues of over $30 million.
The transaction has since been finalized. Keep in mind the use of the term "pro forma" relates to the hypothetical. However, I don't believe Mr. Scozzafava took a wild guess and came up the $30 million annual revenue figure - especially knowing that WiseBuys and Hacketts were negotiating for over a year before the finalized transaction.
Posted by: gitonwithit In reply to: gitonwithit who wrote msg# 13853 Date:7/28/2007 7:34:14 PM Post #of 13856
I'm just figuring based on the SBA repayment that each store made at least $100k a year bottom line and that the team invested ALL of the bottom line in order to pay the loan back. That being said 10 Hacketts would probably make around $1 million a year bottom line without any increased sales, margins, or elimination of operational redundancies.
I really think the numbers are much higher than that, but I try not to assume very much any more.
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