| Butterwings Entertainment Group, Inc. | |||
| Proposed Ticker: | EATS | 2345 Pembroke Avenue | |
| Exchange: | NASDAQ-Small Cap Market | Hoffman Estates, IL 60195 | |
| Industry: | Retail (SIC Code 5812) | (847) 925-1050 | |
| Type of Shares: | Common Shares | Filing Date: | 1/28/97 | |
| U.S. Shares Filed: | 1,112,000 | Filing Price: | $6.50 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $7,228,000 | |
| Primary Shares: | 1,000,000 | Expenses: | $550,000 | |
| Secondary Shares: | 112,000 | Shares Out After: | 4,112,000 |
| Manager | Tier | Phone |
| National Securities Corp. | Lead Manager | (800) 800-9217 |
| Issuer's Law Firm: | Maurice J. Bates, L.L.C. |
| Bank's Law Firm: | Winstead Sechrest & Minick |
| Auditor: | McGladrey & Pullen |
| Registrar/Transfer Agent: | American Stock Transfer & Trust Co |
Dollar amounts in U.S. millions except for per share data | |||||
| 8 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 10/6/96 | 10/1/95 | 10/6/96 | ||
| Revenue: | $6.49 | $5.24 | $5.03 | Assets: | $4.05 |
| Net Income: | -$0.88 | -$1.86 | -$0.62 | Curr Assets: | |
| EPS: | -$0.42 | -$0.88 | -$0.29 | Liabilities: | $5.31 |
| Prior EPS: | -$0.44 | Curr Liabilities: | |||
| Cash Flow/Oper: | Equity: | -$1.26 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is engaged in the ownership, operation and management of franchised Hooters restaurants and Mrs. Fields cookie stores. The company currently owns, operates and manages three Hooters Restaurants in Madison, Wisconsin and San Diego, California and 13 Mrs. Fields Cookie Stores in Missouri, Michigan and Minnesota. The company's Hooters Restaurants are franchised businesses which offer casual dining using a limited, moderately priced menu that features chicken wings, seafood, salads and sandwich type items. The company's Mrs. Fields Cookie Stores are franchised businesses which offer and sell a variety of specially prepared food items including, but not limited to, cookies, brownies, muffins and beverages. The company develops and operates its Hooters Restaurants and Mrs. Fields Cookies Stores pursuant to specified standards established by the franchisors. The company believes that uniform development and operating standards of the franchisors facilitate the efficiency of the company's Hooters Restaurants and Mrs. Fields Cookie Stores and afford the company significant benefits, including the brand-name recognition and goodwill association with the franchisors. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for development and acquisition of Hooters Restaurants and Mrs Fields Cookies Stores, repayment of the Bridge Loan Notes, working capital and general corporate purposes. |