Just thinking about it now brings back a lot of memories. They're better than Long John Silver's right? I prefer Captain D's myself When I worked at Treacher's people would constantly bring in Long John Silver coupons and would stand there looking confused when we tried to explain that was a different chain. Some would also get mad if we didn't include cracklings in with the food, which is a Long John's things. Cake Day. Looks like you're using new Reddit on an old browser.

Arthur Treachers Fish & Chips

Arthur Treachers The good old days. Is that inside the old Grandview location? Continue this thread. I love Marino's! However, in the 13 remaining states, the Company is required to register a state-specific document and receive an effective registration notice prior to the commencement of sales of franchises in such states.

The Company is not qualified to sell franchises in any state that requires a state specific document although the Company believes that it could register in such states if it chose to offer franchises in such states. The Company will be required to update its FTC disclosure document to reflect the occurrence of material events. The occurrence of any such events. There can be no assurance that the Company will be able to update its disclosure document or become registered to offer or sell franchises in certain states consistent with its expansion plans or that the Company will be able to comply with existing or future franchise regulations in any particular state, any of which could have an adverse effect on the Company.

All are registered with the United States Patent Office. There can be no assurance, however, that the Company's trade and service marks do not, or will not, violate the proprietary rights of others, that the Company's trade and service marks would be upheld if challenged or that the Company would not be prevented from using its trade or service marks. Any of the aforementioned instances could have a material adverse effect on the Company and its franchisees.

The Company's trade and service marks have not been and are not subject to any material challenges and the Company has acted to vigorously defend the marks in several isolated instances where alleged infringement has occurred. The Company is aware of two restaurants in the New York metropolitan area which infringed on the Company's service mark in , each of which ceased such infringement upon demand by the Company. The Company utilizes a proprietary batter mix in connection with the preparation of its seafood products. There can be no assurance that such recipe. Item 2.

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Management's Discussion and Analysis or Plan of Operation. This Management's Discussion and Analysis of Financial Condition and Results of Operations of the Company should be read in conjunction with the Financial Statements and Notes thereto appearing elsewhere in this Registration Statement. The Company's principal sources of revenues are from the operations of the Company owned restaurants and the receipt of royalties from franchisees.

The Company's cost of sales includes food, supplies and occupancy costs rent and utilities at Company owned stores. Operating expenses include labor costs at the Company owned stores and advertising, marketing and maintenance costs. Franchise services and selling expenses include fees payable to regional representatives and their expenses and the salary of the Company's Director of Franchise Services.

General and administrative costs include expenses incurred for corporate support and administration, including the salaries and related expenses of personnel at the Company's headquarters in Jacksonville, Florida except the Director of Franchise Services , the costs of operating the headquarters offices rent and utilities and certain related costs travel and entertainment.

The following discussion includes the following periods: i the six months ended December 29, the " Six Months" and the six months ended December 26, the " Six Months" , ii the three months ended December 29, the " Second Quarter" and the three months ended December 26, the. The financial statements for the Six Months, the Six Months and the Second Quarter have not been audited or reviewed by an independent certified accountant. Results for any interim period are not necessarily indicative of the results for a full year.

The financial results of the Company have been audited as of the full fiscal years ended June 30, and June 30, , and do not reflect the operations of MIE. The Company's revenues increased This increase primarily reflected the Company's acquisition on November 27, of MIE the Company's largest franchisee and six franchise restaurants.

Comparable store sales of restaurants that had been open for a minimum of 12 months were 1. The Company also added new menu specials, including scallops, oysters, and popcorn shrimp in the Second Quarter. The most significant increase in sales was in Company owned restaurant sales, which increased Franchise and royalty income declined in the. The Company's total costs and expenses for Company owned stores increased The Company believes that the increase in cost of sales resulted from an increase in the number of Company owned stores and higher sales volumes.

As a percentage of sales at Company owned stores, the cost of sales, including occupancy costs, was The increase in cost of sales and expenses at Company owned stores in the Second Quarter was principally because four of the six stores purchased from franchisees since June 30, were unprofitable in the Second Quarter. The Company's operating expenses increased As a percentage of revenues, operating expenses decreased to Franchise service and selling expenses decreased Franchise service and selling expenses were Fees payable to regional representatives declined in conjunction with the decline in revenues from franchisees because the Company reduced the number of regional representatives from six at the end of the Second Quarter to two in the Second Quarter.

The Company's general and administrative expenses increased by Company's growth. As a percentage of revenues, general and administrative expenses increased to 7. This increase primarily reflected the Company's acquisition on November 27, of MIE and, during the Six Months, of six franchise restaurants. Comparable store sales of restaurants that had been open for a minimum of 12 months were 0.

The increases in revenues were stimulated by new marketing efforts and new menu items. The Company also added new menu specials, including scallops, oysters, and popcorn shrimp in the Six Months. Franchise and royalty income declined As a percentage of sales at Company owned stores, the cost of sales was The increase in cost of sales as a percentage of sales at Company owned stores in the Six Months was, principally, because four of the six stores purchased from franchisees since June 30, were unprofitable in the Six Months.

This increase in the cost of sales attributed to pollack and shrimp resulted from greater sales of these products in the Six Months as a percentage of the Company's revenues. The Company anticipates lowering its cost of pollack and shrimp as a percentage of total revenues since it uses a new supplier who. Such savings were not realized in the Six Months because the Company needed to deplete higher priced inventory in its possession at July 1, Fees payable to regional representatives declined in conjunction with the decline in revenues from franchisees and the Company reduced the number of regional representatives from three at the end of the Six Months to two in the Six Months.

The Company's general and administrative expenses increased As a percentage of revenues, general and administrative expenses increased from 8. Since June 1, , the Company has hired a Director of Purchasing, a Director of Marketing and several field supervisory personnel to assist the Company's anticipated expansion. Depreciation and amortization increased Although the number of Company owned stores increased from 23 at the ended of Fiscal to 24 at the end of Fiscal , revenues at Company owned stores increased principally through the purchase of six restaurants from franchisees which, in the aggregate, had substantially higher sales than the aggregate sales of the three Company owned stores that were closed and the one Company owned store that was sold to a franchisee in Fiscal As a percentage of revenues from Company owned.

Such increases were primarily due to increased costs to associated with higher sales volumes. Fees payable to regional representatives declined in conjunction with the decline in revenues from franchisees. General and administrative expenses can be expected to increase in Fiscal as a result of the Company's anticipated expansion plans.

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Since , the Company has financed its operations principally from revenues derived from Company owned stores and royalty income from franchisees, private placements of equity and a line of credit from a bank. Historically, operating losses have caused the Company to suffer liquidity problems, which included the Company's inability to make certain lease and note payments when due.

June 30, Bruce Galloway, the Chairman of the Board of the Company, in his capacity as a placement agent. The Company anticipates that the proceeds of the November Private Placement, together with projected. In the event that the proceeds of the November Private Placement are insufficient to sustain the Company until it obtains sufficient revenues from operations, the Company will require additional financing.

Although the Company is discussing a new credit facility with a bank, the Company has no arrangements or commitments for such financing, and there can be no assurance that any additional financing can be obtained, or, if obtained, that it will be on reasonable terms. The Company's principal executive offices are located at Baymeadows Way, Jacksonville, Florida The Company believes that its headquarters space is adequate for its proposed expansion. The Company's 63 restaurants include 31 restaurants located in premises leased by the Company, 32 located in premises leased by MIE, a wholly-owned subsidiary of the Company, and one in a property owned by MIE.

In addition, with respect to five leases, the Company either guarantees the obligations of franchisees or leases the properties and subleases them to franchisees. The Company's free standing restaurants are each approximately 2, square feet and the Company's restaurants located in malls are each approximately to 1, square feet.

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The leases have remaining terms ranging from one to 16 years. Many of the leases contain renewal options for periods of five to 10 years. The Company is reviewing whether to continue to operate any marginal restaurants acquired in the MIE Acquisition and to renegotiate the terms of each restaurant lease upon the expiration of each lease. The following chart sets forth the expiration. Item 4. Except as otherwise indicated, the Company believes that the beneficial owners of the Common Stock listed below, based on information furnished by such owners, have sole investment and voting power with respect to such shares, subject to community property laws where applicable.

Heinz Schimmelbusch, a Director designee, disclaims beneficial ownership of , shares of Common Stock held in trust for his children. Does not include options granted which have not vested pursuant to Mr.

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William Saculla is the Secretary of the Company. Item 5. Galloway has been Chairman of the Board of Directors since May Prior to joining Burnham in , Mr. Galloway holds a B. Frank Brown. From May to May , Mr. Brown worked as a consultant to an investment group associated with the Company.

Prior to working for the Company, Mr. Brown was associated with Shoney's and Captain D's. From August to May , he operated, as a franchisee, two Shoney's restaurants in northern Utah. From November to August , Mr. Brown was President of Captain D's. From August through November , Mr. Brown is a Graduate of Purdue University, where he received a B. Skuli Thorvaldsson. Since , Mr. Thorvaldsson has various diversified interests in food court services, travel agency and pork processing.

He is also a master franchisee of Domino's Pizza in Scandinavia. Thorvaldsson is a director of Allied Resources Corp.

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Thorvaldsson received his Degree in Law from the University of Iceland. Fred Knoll. Knoll is a Director designee of the Company.