I see no other way for this to avoid bankruptcy/delisting... they'll raise another $15 mill at 75 cents and then comes the RJ blabber----- "give us another year for things to change"... if you believe positive change will happen here, I have a bridge to sell you!
Sentiment: Strong Sell
this is first qtr w RJ Dourney bet he will surprise us with real improvement probably refranchising company owned stores will give them more cash without dilution
Sentiment: Strong Buy
SEC gives them 45 days for the quarterly report, 90 for the annual report.. so these imbeciles are 4 days away.. no updates , no release date NOTHING.. heck , couldn't they at least provide a revenue estimate? heck no... keeping shareholders in the dark is their top objective. COSI is a hubris/ego machine for over 13 years now, many management homes have been paid off thanks to over $100 million in shareholder funds.. Even during the great restaurant BOOM of 2010-2013 NEVER a flicker of hope for cosi... The only thing I see here is bankruptcy in 6-9 months, after which RJ and Lloyd will walk away with all the profitable stores.
So...Yahoo Finance gives a range of 8/11-15 for an estimated date for when Cosi will announce their quarterly results. Well, today is 8/11 and we don't have a press release. Makes you wonder "what is taking so long?". Unlike many other businesses, the accounting for restaurants is relatively straightforward...it's a "cash" business on the revenue side (either cash or credit but no long term contracts to sift through) and the expenses are basically labor and food...and lots of overheard. Why does it take so long for them to close a quarter? I suspect the news won't be good based on their history.
just wait and see revenues drop another mill or 2. Also RJ is just like the other ceo putzes, he delays the quarterly report until the last day practically and no revenue update, nothing..
COSI is simply bankrupt now... $5 mill DEBT and $10 million liabs sit on the books now... this IS game over... Cosi operated for years with excess cash and no debt yet FAILED MISERABLY, ... so no way on earth they survive with cash fumes and debt too.
That last stock offering a few years back of $15 mill or so was basically wasted right into insider hands... only thing it accomplished was paying off a few dozen homes for management and cohorts..
Sentiment: Strong Sell
it's one thing managing 10 restaurants, 80 stores is a whole nother ball of wax. And as far as RJ is concerned, to my knowledge this schnook hasn't even disclosed the financials of his company, hearthstone. What is this COWARD hiding? You bagholders are dumb as dirt. you elect this sheetbag RJ without even seeing his performance in hearthstone?
cosi is shaping up for a bankruptcy by feb-mar of next year.
that has bought 5%+ of Darden at $50 and above. Starboard is under water and has no one to sell to anyway, but it wants to replace existing BOD with Brad Blum and his friends. As you know Brad is the most famous Cosi bagholder too. So I wonder here if Starboard may buy Cosi to start fast casual per Brad's request. Blind leading blind situation. Hard to determine who is dumbest of them at this point.
These recent equity inducements are a comedy act. Their salaries are the high numbers, and who knows how expensive the exit packages are. Like I say, COSI has been nothing but a retirement vehicle for the suits
when you cant produce a simple sandwich after 13 years, something has been seriously wrong... I think criminal investigators and forensic accountants need to descend on cosi headquarters.. This is beyond a comedy act. Cosi is a management retirement vehicle, nothing more. I wonder how many cosi employee homes were paid for over the last 13 years thanks to shareholder capital? COSI nothing more than a legalized Ponzi scheme. Other sandwich chains experience large growth commonly.. look at five guys, jimmy johns, in/out burger.... These are simple dumpy sandwich joints and yet massively expand locations ... yet cosi struggles every year to produce an edible sandwich? ..
this thing is going into utter bankruptcy.. 1/3 or more stores must still be closed.. and with each closing comes large lease settlement and other shutdown costs.. ugly as a pile of manure... you #$%$ buying stock I wanna rub manure in ur ugly faces. RJ is nothing but an arrogant sack of dung. Expect more all-time low revenues thru the end of the year and large operating losses. then early next year, it says in the SEC filings that company may be required to merger in RJ's stores.. Merging back a franchisee is absolutely HORRIBLE news..
that's what happens when you eat sawdust.. COSI food must be worse than ever now. Vendors probably going COD. Today you've got all-time high competition in the lunch market... worse than you can possibly imagine. You have Panera, chipotle, Baja fresh, wendys, subway, five guys, saladworks, in/out burger, fatburger, Whataburger... it just goes on and on.. Customers who wait 15 minutes for a cosi meatball sub will never return. Also the cosi employees look like zombies.
someone must have ate at COSI, had loose stools the next day, and complained about it. investors found out about the incident. I always get loose stools the next day after I've ate at SUBWAY.
spoiler alert....stop reading 'cuz it's been ugly for a very long time. Agree with your assessment.
On what metric, other than simply their share price, do you think they're cheap? When you look at all the classic valuation metrics, this is not cheap.
since they haven't announced any number recently, the folks buying the stock (unless they are trading on inside information) are merely speculating. Buyers can't possible know what their sales were this week or what their margins were.
Why would it be in Au Bon Pain's best interest to buy Cosi? If they thought it was a good idea, they would have done it by now. Heck, if ANYONE thought it was a good idea, they would have bought it for now. The market cap is so low that almost anyone CAN buy it.....but nobody has stepped up. Why? Because it's a very flawed concept, has never made a penny, is burning cash at a high rate, has NO owned real estate.....so...where do people think the value is? Just because it's a low price stock doesn't mean it's a value play.