We've never had a Krispy Kreme, but the write-ups look like it's a winner so we bought some shares. I wrote to Yahoo to establish this message board for KREM. Glad they did it. The concept and plans sound fine. I downloaded the prospectus and discovered some things. There are 100 million common shares authorized and about 10 million preferred. The management got slews of stock options so they're sitting on the pretty. I was surprised to find that the company only earns 2.7% on each dollar of revenue. Their franchisees pay royalties of 3 cents on revenues from donuts sold in-house and 1 cent on outside sales to other vendors. The IPO issued 3 million shares and allowed another 450,000 to the underwriters for oversubscription, but it looks like there are a total of 12.5 million shares so the "float" might be around 4 million with insiders holding the 8 million remainder for a whopping capital gains down the road if not now. With 100 million shares authorized, it looks like KREM will have a few splits in it's future. KREM looks like it could become the McDonalds of donuts. I'm holding long for the great appreciation potential here IF MANAGEMENT doesn't get too greedy. They've got a great compensation package. Hopefully, we'll all benefit.