American Restaurant Concepts, Inc. Provides Business Update to Investors
Revenue Generated During the First 2 1/2 Months of the Third Fiscal Quarter of 2012 is More Than 10% Higher Than Revenue Generated During the Entire Second Fiscal Quarter of 2012
American Restaurant Concepts, Inc. (OTCQB: ANPZ), the operator and franchisor of America's award-winning Dick's Wings® restaurants, provided an update to investors regarding the Company's current business and outlook.
The Company announced today that it is continuing to build on the record results that it generated for its second fiscal quarter of 2012. The revenue that the Company has generated during the first 2½ months of its third fiscal quarter ended September 30, 2012 is already more than 10% higher than the revenue that it generated for its entire second quarter of 2012, and the Company still has a few weeks to go before its third fiscal quarter ends.
"Our third fiscal quarter is shaping up to be another record quarter for us," stated Michael Rosenberger, CEO of American Restaurant Concepts. "We have continued right where we left off at the end of our second quarter -- with strong growth in our revenue. Our third quarter revenue growth, coupled with our disciplined expense management, should result in record third quarter profits for us."
Mr. Rosenberger continued, "I am also very pleased with the substantial amount of attention we have been receiving from the investment community and the general public. Due to this increased level of interest, we expect to enter into agreements with franchisees before the end of the year for the establishment of new Dick's Wings® restaurants, which will bolster future revenue growth."
American Restaurant Concepts also announced that, as a result of the filing of its Quarterly Report for Q2 2012 with the SEC last week, the Company is now current with its SEC reporting obligations and its common stock has returned to trading on the OTCQB market tier of the OTC Markets Group. The occurrence of these events also satisfied the remaining conditions to the closing of the previously announced transaction with Seenu Kasturi of Blue Victory Holdings. This transaction is expected to close within the next few days.
"I expect the business relationship between American Restaurant Concepts and Seenu Kasturi of Blue Victory Holdings will transform the Company," added Mr. Rosenberger. "Once the transaction is closed, we will announce our joint strategic plan for American Restaurant Concepts and the manner by which we will grow the Company's revenue and profits at an accelerated pace during future periods. These growth drivers should create substantial value for our shareholders during the near and long term."
About American Restaurant Concepts, Inc.
American Restaurant Concepts, Inc., headquartered in Jacksonville, Florida, is the operator and franchisor of the Dick's Wings & Grill® full-service restaurants and Dick's Wing Express® express restaurants. The company prides itself on the 365 original mouth-watering flavors it has created for its premium grade chicken wings. Dick's Wings® offers customers the freshest wings, sandwiches, burgers, wraps, salads and signature waffle fries, all in a unique setting that combines a family-friendly environment with a sports-themed restaurant. Dick's Wings & Grill's® chicken wings have won numerous awards in Florida and Georgia, including having been voted "Best Chicken Wings in Northeast Florida" 12 consecutive years by Folioweekly magazine. Dick's Wings® currently has 16 full-service restaurants and 2 express restaurants. Fifteen of the restaurants are located in Florida, with one located in Georgia and two located in Canada.
