Only good is coming here, the new website, 1st and 2nd locations etc. here is a good summary for you ,
CEO James Boyd on progress the
company has made since he assumed office.
-- We have eliminated a considerable amount of debt produced by Energy Edge
Solutions.
-- We are working to pay off the remaining $150,000 of debt
-- We submitted an 8k detailing the executed modification agreement and now EEDG
owns 100% of Dry Fried Wings. This is a major accomplishment for the brand.
-- We terminated all consulting contracts. John Walker and Harold Kestenbaum
resigned from the Board. We thank them for their contributions.
-- I am the watchdog over stock issuances. All future consulting contracts will
be connected to scheduled deliverables. We will no longer compensate consultants
"today" for tomorrow's performance.
-- I am focused on:
-- Opening our first company owned and operated Gourmet Wing Restaurant in the
Atlanta area
-- Today I met with the architect, general contractor and leasing agent to
develop cost projections for the downtown location.
-- New Restaurant development Process:
-- Securing the location
-- Complete demographic analysis
-- Complete traffic counts
-- Developing architectural plans
-- Develop cost estimate
-- Securing architectural permits
-- Submit to general contractor for bid
-- Submit plans to equipment and sign suppliers for bid
-- Construction start
-- Our investment strategy has changed considerably. We invested a considerable
amount of capital initiating our licensing program. I determined that strategy
was not as sustainable and not as scalable as franchising. While we intend to
honor our commitment to our licensees we are moving with all due haste to a
franchising model. We are in discussions with a well-capitalized physician and
his son for locations in Milwaukee and Tallahassee. We must first complete our
Franchise Disclosure Document (FDD). The FDD is a legal document which is
presented to prospective buyers of franchises in the pre-sale disclosure process
in the United States.
-- Master Franchising- Big Chow Grill. We are still in discussions.
-- China Moon Express-We are just beginning our talks to finalize a franchise
development agreement.
-- Cu'i- We are scheduling meetings with Kroger and other large retailers.
-- Financing- I have several offers for financing and I am still performing due
diligence to ensure the loans are not toxic. We can avert harming our shares
because the stock is restricted for six-months and we will have at least one
restaurant location opened by that time. I would be happy to entertain other
offers of financing.
-- I am establishing deliverables connected to sales and profit projections for
Energy Edge Solutions and the restaurant group. Both entities must produce
profitable revenues.
-- We will delay any spin-off until each entity has sufficient assets.
-- A name change will follow shortly thereafter.
-- I am interviewing several very experienced candidates to fill the role of
Chief Financial Officer. This will be a part-time position.
-- Friday, August 9, 2013 is the next filing date for the 10Q and we will file
on time.
"As I reshape our company, we intend to be fully compliant with SEC reporting
requirements as we pursue our plan to continue adding new brands to our
expanding portfolio. Our strategy is to become a meaningful participant in the
food and beverage category," said James Boyd, a former top executive with
Popeyes Chicken, Quizno's and other concepts.
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