| Proposed Ticker: | BGEL | Two Union Square, 601 Union Street, Suite 4620 | |
| Exchange: | NASDAQ-Small Cap Market | Seattle, Washington 98101 | |
| Industry: | Retail | (206) 292-1550 |
| All share information is proposed | ||||
| Type of Shares: | Common Shares | Filing Date: | 12/24/96 | |
| U.S. Shares Filed: | 1,600,000 | Filing Price: | $5.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $8,000,000 | |
| Primary Shares: | 1,600,000 | Expenses: | $644,000 | |
| Secondary Shares: | 0 | Shs Out After: | 4,421,852 | |
| Manager | Tier | Phone |
| Paragon Capital Corporation | Lead Manager | (212) 742-1500 |
| Auditor: Deloitte & Touche | |||||
| 9 Month Ending Financials | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 9/30/96 | 9/30/95 | 9/30/96 | ||
| Revenue: | $2.49 | $3.32 | $1.68 | Assets: | $6.62 |
| Net Income: | -$1.68 | -$2.08 | -$1.18 | Liabilities: | $4.57 |
| EPS: | -$0.69 | -$0.80 | -$0.48 | Equity: | $2.05 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company operates 28 specialty coffee and bagel cafes and bars under the Tuscany name, all of which offer gourmet and specialty coffee beverages and coffee beans and 20 of which also offer fresh baked bagels and related food products. The company's stores are currently located in the Pittsburgh and Philadelphia, Pennsylvania; Cleveland, Ohio; St. Louis, Missouri; Denver, Colorado; and Dallas, Texas metropolitan areas. The company developed its Tuscany cafe concept by combining the relaxed atmosphere of a coffee house with the warm, inviting environment of a bagel bakery in a "cafe" style setting to differentiate its Tuscany cafes from other coffee stores and other bagel bakeries and to appeal to a broad range of customers. In an effort to increase the Tuscany name recognition and customer loyalty, the company has developed a prototypical image for its coffee and bagel cafes and bars. The company's 16 coffee and bagel cafes feature the use of rich woods, custom wall coverings, sconce lighting, tile and hardwood floors and comfortable seating. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to construct and open coffee and bagel cafes and bars; to repay indebtedness; to remodel certain existing Tuscany locations; and for working capital and general corporate purposes. |
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