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Famous Dave's of America Inc. Message Board

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  • LDB1947 LDB1947 Mar 2, 2002 3:29 PM Flag

    Directors of Daves

     

    Three questions to be asked at the June stock holder meeting:

    1. How many shares of stock are going to be given to insiders in the next two years thus diluting everyone else's share value.

    2. How many insiders have plans to sell shares of deeply discounted shares received?

    3. Why is DAVE holding onto a piece of property losing $ 400,000 to $500,000 a year in Chicago?

    At $.40 profit during the next year this could very well be a $ 4-5 stock. Will the big funds drive up DAVE prior to the June Meeting as was done the last two April-May-June periods.

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    • I obviously cannot answer the first two questions you asked about insiders, but the answer to question #3 (Why is DAVE holding onto a piece of property losing $400k-$500k a year in Chicago?) was answered in the last conference call. That property, the former "Blues Club" and now the joint venture with Isaac Hayes, is expected to AT LEAST break even, if not even become profitable this year. The Blues Club format was an experiment during DAVE's developmental period that did not work. Management did well, IMO, in their handling of minimizing their losses from this failed experiment. Before the deal with Isaac Hayes, the club was a much bigger drag on profits.

      Fiat

    • I am encouraged to see you ask these two questions. I hope others are curious as well. I am a small investor(only a 1,000 shares right now) and as such don't feel I would be heard asking questions at the meeting.

      However, I like Dave's products and think they can become a long term investment, if they don't continue on a track of diluting our shares. Management should be getting their rewards from salary and bonus.

      When options are exercised and immediately sold, it is my opion the stock will never deserve a high PE rato. Also, the price will fluctuate.

      They will find themselves unable to raise capital in the future if management is not holding a position in the company.

      1. How many shares of stock are going to be given to insiders in the next two years thus diluting everyone else's share value.

      2. How many insiders have plans to sell shares of deeply discounted shares received?

      Can some ask these questions at the meeting? Options issued and the number relative to the TSO can have a big impact on pricing the stock I believe.

 
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