KOO KOO ROO STOCK DELISTED BY NASDAQ.Byline: Gregory J. Wilcox Daily News Staff Writer Koo Koo Roo Enterprises Inc., the operator of a far-flung restaurant chain, said Monday its stock is being delisted by the Nasdaq exchange after a panel overturned a waiver to the $5 minimum bid requirement. The company, whose holdings include the Koo Koo Roo, Hamburger Hamlet, Chi Chi's and El Torito The format developed by Phoenix Technologies and IBM that has become the standard for creating bootable CD-ROMs on the Intel platform. El Torito provides only the format. In order to make a CD-ROM bootable, the correct boot images must be placed on the disc, and the target computer must chains, will start trading today on the OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). exchange under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors KKRE. Koo Koo Roo was first listed on the Nasdaq in 1991. Kevin S. Relyea, the company's chairman, chief executive officer and president, said the ruling will not impact ongoing operations. Koo Koo Roo bought the Hamburger Hamlet chain in 1997 and 13 weeks ago merged with privately held Family Restaurants Inc., owner of the Mexican-themed restaurants. ``The last several months have been involved in getting the two companies together and understanding the operations down to the nitty-gritty detail,'' said Robert L. Carl, Koo Koo Roo's vice president for investor relations Investor relations The process by which the corporation communicates with its investors. . ``I think we pretty much inherited an excellent opportunity for growth.'' But Douglas J. Burke, director of private placements for investment house Sutro & Co., said that ``micro-cap'' restaurant companies like Koo Koo Roo, those with a market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of less than $150 million, are finding themselves in a tight financial spot these days. ``Money is flowing rapidly out of mutual funds that specialize in stocks with a market cap of less than $150 million,'' he said. ``Other large investors are also turning away from these micro-cap stocks.'' Koo Koo Roo operates 58 restaurants in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and Ventura County. The Irvine-based company has more than 20,000 employees at 300 restaurants scattered across 28 states. |
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