| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| Tam Restaurants, Inc. |
| 1163 Forest Avenue, Staten Island, NY 10310 * (718) 720-5959 |
| The company operates Lundy Bros. Restaurant, a high volume, casual, upscale seafood restaurant located in Brooklyn, New York, and The Boathouse in Central Park, a multi-use facility which features an upscale restaurant and catering pavilion. |
| Manager | Tier | Phone |
| Paragon Capital Corporation | Lead Manager | (800) 969-8173 |
| NASSCM: | TAMR | Retail: | SIC 5812 | |
| Type of Shares: | Common Shares | Filing Date: | 11/12/97 | |
| U.S. Shares: | 1,000,000 | Offer Date: | 2/10/98 | |
| Non-U.S. Shares: | 0 | Filing Price: | $5.00 | |
| Primary Shares: | 1,000,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.50 | |
| Offering Amount: | $5,000,000 | Selling: | $0.20 | |
| Expenses: | $151,500 | Reallowance: | $0.10 | |
| Post-IPO Shares: | 3,500,000 | |||
| Employees: | 554 |
| Issuer's Law Firm: | Tenzer, Greenblatt, Fallon & Kaplan |
| Bank's Law Firm: | Akerman, Senterfitt & Eidson |
| Registrar/Transfer Agent: | Continental Stock Transfer & Trust Co |
| Auditor: | Maltese, Potter & LaMarca LLP |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 9/29/96 | 6/29/97 | 6/30/96 | 6/29/97 | ||
| Revenue: | $11.85 | $8.90 | $7.26 | Assets: | $6.32 |
| Net Income: | -$2.64 | $0.11 | -$2.00 | Curr Assets: | $1.70 |
| EPS: | -$1.22 | $0.05 | -$0.99 | Liabilities: | $5.67 |
| Prior EPS: | Curr Liab: | $3.83 | |||
| Cash Flow/Oper: | -$0.37 | $0.39 | -$0.75 | Equity: | $0.65 |
| Cash Flow/Fin: | $2.75 | $0.63 | $2.82 | Cash: | $0.11 |
| Cash Flow/Inv: | -$2.46 | -$0.98 | -$2.14 | Working Cap: | -$2.13 |
| Competition |
| The restaurant industry is intensely competitive with respect to price, service, location and food quality and variety. There are many well-established competitors with substantially greater financial and other resources than the Company, as well as a significant number of new market entrants. Such competitors include national, regional and local full-service casual dining chains, many of which specialize in or offer seafood products, as well as single location restaurants. Some of the Company's competitors have been in existence for substantially longer periods than the Company, may be better established in the markets where the Company's restaurants are or may be located and engage in extensive advertising and promotional campaigns, both generally and in response to efforts by competitors to open new locations or introduce new concepts or menu offerings. The Company can also be expected to face competition from a broad range of other restaurants and food service establishments which specialize in a variety of cuisines. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for the construction of new restaurants, and for working capital and general corporate purposes. |
| Name of Shareholder | % Owned Before | % Owned After |
| Jeanne Cretella | 0.67 | 0.48 |
| Frank Cretella | 0.67 | 0.48 |
| Peter J. Salvatore | 0.07 | 0.05 |
| Officer Name | Title | Age |
| Kenneth L. Harris | Chairman of the Board | 55 |
| Frank Cretella | President, Chief Executive Officer and Director | 39 |
| Anthony B. Golio | Vice President | 37 |
| Jeanne Cretella | Vice President and Director | 39 |
| Additional Underwriter Compensation |
| Warrant to purchase 100,000 shares/units at $105.00 per share/unit. |
| Exercise price of $6.00 for 4 year(s), 1 year(s) from 2/10/98. |
| $60,000.00 consulting agreement for 2 year(s). |