Corporate Profile for Founders Food & Firkins Ltd. dba Granite City Food & Brewery, dated March 29, 2002.Business Editors --(BUSINESS WIRE) The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services.
Published Date: March 29, 2002
Company Name: Founders Food & Firkins Ltd. dba Granite City Food &
Brewery
Address: 5831 Cedar Lake Road
St. Louis Park MN 55416
Main Telephone
Number: 952/525-2070
Internet Home
Page Address
(URL) www.gcfb.net
Chief Executive
Officer: Steven J. Wagenheim
Chief Financial
Officer: Mitchel I. Wachman
Investor Relations
Contact: Monica Underwood
Business number: 952/525-2070
E-mail address: munderwood@gcfb.net
Public Relations
Contact: Monica Underwood
Business number: 952/525-2070
E-mail address: 952/525-2070
Industry: 952/525-2070
Trading Symbol/
Exchange: Nasdaq GCFB (common stock) GCFBU (unit consisting of
one share of common stock and one warrant to
purchase one share of common stock)
Market Makers: Miller Johnson Steichen Kinnard - Bob Nielson,
Spear Leeds & Kellogg - John Shumacher,
Fleet Securities - Michael Lavista,
Herzog Heine Geduld - Brian Flynn
Company description: Founders Food & Firkins may sound like a 19th century grocer in a Charles Dickens yarn yarn, fibers or filaments formed into a continuous strand for use in weaving textiles or for the manufacture of thread. A staple fiber, such as cotton, linen, or wool, is made into yarn by carding, combing (for fine, long staples only), drawing out into roving, then , but the company actually operates Granite City Granite City, city (1990 pop. 32,862), Madison co., SW Ill., an industrial suburb of East St. Louis, on the Mississippi; inc. 1896. It has port and rail connections. Food & Brewery(TM), a casual dining restaurant with an on-site brewery, in St. Cloud, Minnesota St. Cloud (IPA: /ˌseɪntˈklaʊd/) is a city in the U.S. state of Minnesota and the major population center in the state's central region. As of the 2000 census, the city had a total population of 59,107. , Sioux Falls, South Dakota Sioux Falls (IPA: [su fɑlz]) is the largest city in the U.S. state of South Dakota, and the county seat of Minnehaha County.GR6 The 2007 city population is 148,000. , and Fargo, North Dakota “Fargo” redirects here. For other uses, see Fargo (disambiguation). Fargo is a city in Cass County, North Dakota in the United States. It is the county seat of Cass County, located in the Red River Valley region. . We serve signature beers, including Duke of Wellington (an English ale) and Pride of Pilsen (a Czechoslovakian beer), and entrees such as London broil London broil n. Broiled flank steak cut into thin slices. [After London, England.] . We offer a broad menu of items that are prepared fresh daily and are served in generous portions at reasonable prices. Our handcrafted hand·craft n. Variant of handicraft. tr.v. hand·craft·ed, hand·craft·ing, hand·crafts To fashion or make by hand. hand·craft beers are moderately priced and offer unique styles and flavors not typically produced by major breweries. We have developed a new patent-pending brewing brewing: see beer. process called Fermentus Interruptus(TM) that will aid in the quality consistency and efficiency of serving handcrafted brews in multiple locations. This brewing process begins in one location where wort wort 1 n. A plant. Often used in combination: liverwort; milkwort. [Middle English, from Old English wyrt; see is produced. This non-alcoholic liquid is then transported via truck to fermentation fermentation, process by which the living cell is able to obtain energy through the breakdown of glucose and other simple sugar molecules without requiring oxygen. Fermentation is achieved by somewhat different chemical sequences in different species of organisms. vessels at other locations where the brew will be served. It is then fermented and the brewing process is complete. We intend to pursue a disciplined expansion strategy in markets where we believe our concept will have broad appeal and attractive restaurant-level economics. A firkin fir·kin n. 1. A small wooden barrel or covered vessel. 2. Any of several British units of capacity, usually equal to about 1/4 of a barrel or 9 gallons (34 liters). , by the way, is a wooden cask.
Results of operations for since inceptions:
Year Ended Year Ended Year Ended
December 26, December 31, December 30,
1999 2000 2000
------------------ ------------------ --------------------
Amount Percent Amount Percent Amount Percent
---------- ------- ---------- ------- ------------ -------
Restaurant
revenues. $1,984,525 100.0% $4,105,357 100.0% $8,885,036 100.0%
Restaurant
costs.... 1,724,831 86.9% 3,548,748 86.4% 7,411,617 83.4%
Operating
loss..... (190,805) -9.6% (303,637) -7.4% (50,714) -0.6%
Net loss.. $(316,306) -15.9% $(416,576) -10.1% $(428,020) -4.8%
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Traded on Nasdaq Small Cap, the 52- week high and low of our units was $5.10 and $1.95, respectively as of March 26, 2002. Our units consist of one share common stock and one warrant to purchase a share of common stock. As of August 6, 2001, our common stock began trading separately from the warrants. Since that time, our common stock has traded between $4.81 and $0.75 per share. |
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