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Muscle Maker, Inc. (GRIL)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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1.5250-0.0050 (-0.33%)
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Previous Close1.5300
Open1.5500
Bid1.5300 x 800
Ask1.5400 x 800
Day's Range1.4997 - 1.5700
52 Week Range1.3100 - 5.0900
Volume228,306
Avg. Volume628,049
Market Cap16.96M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateAug 20, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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  • Muscle Maker Grill Signs Agreement Bringing Ghost Kitchens to Miami Beach, FL
    GlobeNewswire

    Muscle Maker Grill Signs Agreement Bringing Ghost Kitchens to Miami Beach, FL

    Miami Beach Location Would Represent Tenth Ghost Kitchen Agreement Signed as part of Company’s Non-Traditional Location Growth StrategyLeague City, Texas, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Muscle Maker, Inc. (Nasdaq: GRIL) the parent company of Muscle Maker Grill, Healthy Joe’s & MMG Burger Bar, a fast-casual concept known for serving “healthier for you” meals, today announced that it signed a lease to open its tenth ghost kitchen and first location in Miami Beach on Alton Road. The south Florida ghost kitchen location will be located within a new state of the art food court and will have a kiosk for guests to order directly as well as service delivery orders through third party delivery apps.Miami beach has long been known for its forward-thinking health trends making the company’s food concepts perfect for the target demographic. Located within a brand new food hall, this location is designed specifically for restaurants looking to scale their food delivery business as well as offer multiple food concepts from one location. Some of the features that make this new location “delivery friendly” include easier faster parking, courier lounge and restrooms, scanning and tracking of food and order from grill-to-wheels ensuring the right courier gets the right order allowing food to be delivered hotter, faster, with fewer mistakes. The location will be built in 355 square ft and will employ five to six staff. The Company will run multiple restaurants from this location including Muscle Maker Grill, Healthy Joe’s, Meal Plan AF and up to three additional concepts.Michael Roper, CEO of Muscle Maker Grill, commented, “Our operations team has been canvassing south Florida for some time now. We believe Miami Beach fits our targeted customer mold perfectly. That combined with the state of the art food/delivery court we are going into makes us confident the brands will do very well there. Miami Beach is the latest major metropolitan market we are adding ghost kitchens after our recent announcements of Chicago, Philadelphia and New York City. We anticipate adding more ghost kitchen locations in Miami Beach to round out the market.”Miami Beach is home to hundreds of thousands of residents, workers, and students with a median age of 37 years old looking for ways to eat healthy. The area is also home to high end restaurants which can be expensive for everyday living, making our price point attractive to weekly food budgets for people living in and visiting the South Beach area.About Muscle Maker GrillFounded in 1995 in Colonia, New Jersey, Muscle Maker Grill features high quality, great tasting food, freshly prepared with proprietary recipes. The menu, created with the guest’s health in mind, is lean and protein based. It features all-natural chicken, grass fed steak, lean turkey, whole wheat pasta, wraps, bowls and more. It also offers a wide selection of fruit smoothies in a variety of assorted flavors, protein shakes and supplements. For more information on Muscle Maker Grill, visit www.musclemakergrill.com.Forward-Looking StatementsThis press release may include “forward-looking statements” pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as “should”, “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” and “proposes.” Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in documents that we file from time to time with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Muscle Maker, Inc does not undertake any duty to update any forward-looking statements except as may be required by law.Contact: Muscle Maker Grill Marketing: marketing@musclemakergrill.comInvestor Relations: IR@musclemakergrill.com

  • Muscle Maker Grill Awarded Contract for Two Locations on Navy Base
    GlobeNewswire

    Muscle Maker Grill Awarded Contract for Two Locations on Navy Base

    Company expands beyond Army and Marine bases into their third military branch with the U.S. Navy League City, Texas, Oct. 21, 2020 (GLOBE NEWSWIRE) -- Muscle Maker, Inc. (Nasdaq: GRIL) the parent company of Muscle Maker Grill, Healthy Joe’s & MMG Burger Bar, a fast-casual concept known for serving “healthier for you” meals, today announced that it has reached an agreement with the Navy Exchange Service Command (NEXCOM) to open two Healthy Joe’s locations at two commands on Naval Station Newport (NAVSTA Newport) in Rhode Island. The two commands will be the Surface Warfare Officers School and the Naval Health Clinic. Menu offerings include oven toasted subs, toasted bowls, hot topped salads, and Joe’s Faves – a lineup of signature menu items that include: a grass fed sirloin steak and grilled halloumi cheese toast, the impossibly sloppy made with Impossible™ plant based protein and avocado toast made with Joe’s handcrafted avocado smash, queso fresco and pepitas.NAVSTA Newport is home to over 50 U.S. Navy, U.S. Marine Corps, U.S. Coast Guard, National Oceanographic and Atmospheric Administration and U.S. Army Reserve commands and activities. NAVSTA Newport is the Navy’s premier site for training officers, officer candidates, senior enlisted personnel and midshipman candidates, as well as testing and evaluating advanced undersea warfare and development systems. NAVSTA Newport is also the home of the Navy’s most prestigious educational institution, the U.S. Naval War College.The first Healthy Joe’s location will be at the Surface Warfare Officers School. The Surface Warfare Officers School is coined as the “Center for Excellence” where Surface Warfare officers and senior enlisted leaders sharpen their leadership, management and professional skills throughout their career. The second Healthy Joe’s location on NAVSTA will be at the Naval Health Clinic New England (NHCNE). The NHCNE is a comprehensive health care facility at the south end of the naval complex. It provides a full range of outpatient services for naval shore activities and fleet units of the operating forces, family members of armed services personnel and other authorized beneficiaries. Both locations will have both forward facing customer as well as delivery capabilities.Michael Roper, CEO of Muscle Maker Grill, commented, “This is a tremendous opportunity for our company. We have been awarded the opportunity to serve some of the Navy’s top personnel while expanding our reach into our third military branch. We look forward to opening these two new locations and expanding our military portfolio. We’ll continue to seek out non-traditional military opportunities as they make sense for our growth plans.”Muscle Maker recently announced the submission of Major General (retired) Malcolm Frost to the board of directors which will be voted on by the company shareholders for approval at the upcoming annual shareholder meeting on October 27, 2020. Providing healthier alternatives and expanding into all military branch locations is a company goal and the potential addition of Major General (retired) Malcom Frost to the Board of Directors will bring a unique skillset and experience to the Muscle Maker, Inc. brands. The Company will begin the planning and construction process in Q4 with an anticipated opening in Q1/Q2 2021.About Muscle Maker GrillFounded in 1995 in Colonia, New Jersey, Muscle Maker Grill features high quality, great tasting food, freshly prepared with proprietary recipes. The menu, created with the guest’s health in mind, is lean and protein based. It features all-natural chicken, grass fed steak, lean turkey, whole wheat pasta, wraps, bowls and more. It also offers a wide selection of fruit smoothies in a variety of assorted flavors, protein shakes and supplements. For more information on Muscle Maker Grill, visit www.musclemakergrill.com.Forward-Looking StatementsThis press release may include “forward-looking statements” pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as “should”, “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” and “proposes.” Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in documents that we file from time to time with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Muscle Maker, Inc does not undertake any duty to update any forward-looking statements except as may be required by law.Contact: Muscle Maker Grill Marketing: marketing@musclemakergrill.comInvestor Relations: IR@musclemakergrill.com

  • GlobeNewswire

    Muscle Maker Grill Provides Shareholder Update

    *New Store Openings Targeted Across All Aspects of the Non-Traditional Model*Potential Board Additions Strengthen Military Presence*Recent Financing Provides Ample Capital to Expedite GrowthLeague City, TX., Oct. 15, 2020 (GLOBE NEWSWIRE) -- Muscle Maker, Inc. (Nasdaq: GRIL) As a newly public company, we feel it is important to provide open dialog and updates to our investors, in order to keep everyone abreast of the execution on our commitment to our non-traditional location growth strategy. After the market close on October 14th, the Company published, via an 8K filing, a detailed investor update letter. This update letter is meant as a progress report regarding where we are today and where we hope to be in the near future. To access the detailed 8K filing, please visit the sec.gov site under company filings and Muscle Maker, Inc or click here:https://www.sec.gov/Archives/edgar/data/1701756/000149315220019443/form8-k.htmWhile nearly everyone has been impacted in some way from COVID, we see opportunity within the recent economic dislocation. We have seen an increased focus on, and an acceleration in, the adoption of our health-oriented offering throughout our conversations with larger non-traditional channels. An intended use of proceeds from our mid-February IPO was allocated to the continued expansion on the military front. With the opening of Camp Elmore we have remained committed to what we feel is a large and unique opportunity in the military. The pandemic has slowed this growth path, but the plan is still very much intact and we are beginning to see movement on that front, and hope to continue our expansion there very soon. To support those efforts, we have nominated Major General (retired) Malcolm Frost for a seat on our board; if successfully voted in, he will help steward our military expansion plans, not only with the Army, but throughout all of the branches of the Armed Forces.A second area of non-traditional growth focus is a planned geographic expansion via the “Ghost Kitchen” model, while this had started pre-COVID, it has been greatly accelerated and emphasized as a result of our current environment. We continue to feel that this is an excellent opportunity, not only for the immediate future, but one that matches the changing dynamics of the industry. We were early movers in this area and formed a relationship with one of the largest and best funded players in this sector. We have previously announced an initial 10 location commitment to the “Ghost Kitchen” delivery-only model and have since signed leases for nine of these locations. We currently have opened three ghost kitchen locations with another four locations under construction and anticipated to open over the next quarter. We continue to hold discussions with several ghost kitchen companies and identify new locations to support our growth initiatives. Our plan currently calls for an additional 30+ ghost kitchens across multiple geographic markets. Ghost kitchens are a capital-light, company-owned expansion opportunity by which we can significantly increase our footprint, geographic reach and brand awareness in a way that we feel better fits both the current environment and the future of the quick service restaurant segment. We believe ghost kitchens are highly disruptive to the restaurant industry especially given the current Covid-19 climate and the growing need for off-premise food services and delivery. As an extension of this concept, we recently announced a pilot agreement with Reef Technology. Reef’s standalone kitchens are located in neighborhoods which are underserved by traditional delivery methods and will complement our ghost kitchen portfolio nicely. Reef is different from our other Ghost Kitchen relationships as they operate under a licensing agreement, which requires no capital outlay by Muscle Maker. We are hopeful that the pilot program, which gets under way in November/December can lead to a more in-depth relationship.A third area of our non-traditional growth path includes universities. To date we have announced five location wins, recently opening two locations on the NOVA Community College Campus in Virginia and we intend to open Texas Tech by year end. Universities, like the Military opportunity, are an ideal strategic and demographic fit, as gaining access provides a high barrier to entrance on the competitive front, and student populations present large captive audiences with less economic sensitivity. The nation-wide opportunity for expansion throughout the University systems is something we intend to focus intensely on, and we anticipate having more to update investors on in this regard in the immediate future.This month we successfully raised an additional $5.6m of equity to further strengthen our balance sheet, and to ensure that we are well capitalized to execute on our in-hand opportunities. Some of these opportunities have been previously announced and we will continue to provide updates as we continue to see our pipeline of attractive non-traditional opportunities grow. While our focus will remain on the non-traditional niche, the significant dislocation experienced by the entire restaurant industry has also began to present inorganic opportunities that may offer a more rapid and accretive growth path relative to our currently presented plans. This is not to say that we would pivot away from our organic expansion, but rather, look to augment that growth if the opportunity to buy vs build presents better economics and strategic synergies.Ours is an execution story, and through that continued execution and expansion, we will look forward to creating sustainable value for all of our shareholders. Today’s shareholder update should be indicative of our desire to keep investors informed and aware of all of our corporate developments and we will continue to do so, in order that everyone can build their own clear picture of the opportunity. Again, a more detailed and expanded shareholder update letter is available on the sec.gov website with the latest 8K filing.In closing, I would like to extend my personal appreciation to all of our employees, franchise owners, customers and shareholders for continuing to support our Company during these unprecedented times. We wish everyone and their families continued safety and good health.Forward-Looking StatementsThis press release may include “forward-looking statements” pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as “should”, “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” and “proposes.” Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in documents that we file from time to time with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Muscle Maker, Inc does not undertake any duty to update any forward-looking statements except as may be required by law.Contact:Muscle Maker Grill Marketing: marketing@musclemakergrill.comInvestor Relations: IR@musclemakergrill.com