Big City Bagels Inc. Results for Three Months Ended June 30, 1996.HICKSVILLE, N.Y.--(BUSINESS WIRE)--Aug. 15, 1996--Big City Bagels Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BIGC BIGC Beijing Institute of Graphic Communication (China) ) today announced the following results for its second quarter ended June 30, 1996 with comparative results for the corresponding period in 1995. -0-
Three months ended June 30,
1996 1995
Total Revenues $ 571,021 $ 383,039 Net (loss) $(684,061) $(214,640) Net (loss) per share $ (0.17) $ (0.07) Weighted average shares outstanding 3,980,865 3,000,000-0- Big City Bagels Inc., which consummated its initial public offering in May 1996, posted a 45% increase in revenues primarily from increases in store and commissary COMMISSARY. An officer whose principal duties are to supply the army with provisions. 2. The Act of April 14, 1818, s. 6, requires that the president, by and with the consent of the senate, shall appoint a commissary general with the rank, pay, and emoluments sales, franchise fees and royalty income as a result of more store openings in 1996 as compared to 1995. This year, the company has already opened seven new franchise stores and has entered into two area development agreements and numerous franchise agreements. The company's loss in the second quarter includes an extraordinary charge of $257,059 due to the debt discount related to the company's bridge financing Bridge Financing A method of financing, used by companies before their IPO, to obtain necessary cash for the maintenance of operations. Notes: These funds are usually supplied by the investment bank underwriting the new issue. consummated prior to its IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. . Mark Weinreb, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Big City Bagels, stated, "Our second quarter results were as expected. We will continue to apply the proceeds of our IPO to expand franchise operations, increase the number of company-owned stores, and for acquiring existing bagel stores, or complementary business chains." CONTACT: Big City Bagels Inc. Mark Weinreb, 516/932-5050 |
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