The first thing DAVE needs to do is report enterprise wide sales. Since only the 5% that they receive on commission from franchisees is booked as revenue, it is deceptive of their actual restaurant sales. The actual amount of sales at Famous Daves restaurants is approx. $475 million. They are the largest and most successful rib joint around. Let that be known. Second, advertise that the company has bought back 30% of it's stock in the last 5 years. How many other companies have done that? With a market cap of $70 million, a controlling interest can be bought out for $36 million. Very cheap. Third, do something about investor relations to promote interest in this company. Undoubtedly, it will be bought out before long if it remains this cheap.
Spending money to promote the stock serves no business purpose unless raising money. Spend money to promote the business; i.e. the stores, product, brand. If they get thatand operations right the stock price will follow. Let us not forget, DAVE bought back a slug of stock when the share price was high. Recently ate at Dave, food good, store DIRTY, as in generally; wall, table, chairs, floor surfaces all need a good cleaning. I suspect DAVE lacks an effective HQ field inspection process. What I saw was obvious, not from a single day's use. Still needs to solve the owned-franchise store performance discrepancy.
As an investor I share your frustration of the low valuation on this stock. However, the more I look into this company the more convinced I become that this is not the time for a PR push. DAVE is once again in a roll-out mode and they're probably more concerned about "getting it right" in markets like NYC, Florida and California than telling the DAVE story one more time to the Twin Cities media. If you momentarily forget about DAVE's ubiquitous presence in the Twin Cities this company is really still in infancy.
This may be an example of how stakeholders' interests rarely coincide. The existing shareholder base would probably like a push to jack the price now. Management, on the otherhand, is probably looking out a little further and hoping to have a bigger, better story to tell in 1-3 years time.