Published: January 10, 2008
Baron International Announced Today That It Will Start Field Testing of a New State-of-the-Art Beverage Control System
Baron International, being acquired by Prime
Restaurants, Inc. (PINKSHEETS: PRSU), today announced that it will start
field testing of a new state-of-the-art beverage control system.
Baron International has been given the opportunity to be the United States
distributor of the new beverage control system manufactured by Takk Systems
Inc. http://www.takksystems.com/english/home.aspx. Field testing of the
system will be done by installing several systems in Baron's Refrigeration
Division's restaurant and hotel clients' establishments such as Applebees,
Ruby Tuesday, Red Lobster, Olive Garden, and similar operations.
Should the field tests respond successfully as expected, Baron anticipates
substantial revenue flow from the sales and leasing of the systems, as well
as recurring revenues from service contracts and monitoring fees.
The new systems reduce spillage, over pouring and theft in draft beer and
liquor dispensing systems. Statistics from the National Restaurant
Association indicate that loses due to slippage and theft range from 10% to
30%.
The systems feature flow meters that interface with beer lines and liquor
"guns." The system measures every pour and reports all information to a
central monitoring office. It then matches every pour with every beverage
sale to see if there is any over pouring, spillage or theft. Customers can
view their accounts "real time" by simply logging on to the company
website, or in cases of irregularities can be alerted by e-mail or fax.
This seems to be the only system of its type on the market and the
potential clients for such a system are limitless, as waste and theft are
two of if not the biggest problems facing the beverage part of any
establishment that serves alcohol.
"We are always looking for additional quality products to introduce to our
clients while increasing revenue for the company. If this system tests the
way we anticipate it will, Baron will realize millions of dollars in new
revenue as we will become the distributor for the entire United States,"
said Mr. Robert Ingala, President, Baron International.
About Baron International:
Baron International, Inc., a multi-million dollar a year revenue operation,
was founded in 1982 by Mr. Robert Ingala and Mr. Norman Kushner. Since its
inception, the company built many restaurants and has sold several beer
systems and equipment. The company serves major companies such as
Applebee's, Pepsi and National Amusement (Mr. Summer Redstone, Viacom),
among many other major corporations.
About Prime Restaurants, Inc.
Prime Restaurants, Inc. is a Restaurant Owner/Operator Holding Company
devoted to the restaurant and food service industry, with an aggressive
growth plan. The company's capitalization is presented below:
Authorized Common Shares: 180,000,000
Restricted Common Shares: 155,733,240
Common Shares in the Public Float: 24,266,760
This press release does not constitute an offer of any securities for sale.
This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These forward-looking statements involve
certain risks and uncertainties that could cause actual results to differ,
including, without limitation, the company's limited operating history and
history of losses, the inability to successfully obtain further funding,
the inability to raise capital on terms acceptable to the company, the
inability to compete effectively in the marketplace, the inability to
complete the proposed acquisition and such other risks that could cause the
actual results to differ materially from those contained in the company's
projections or forward-looking statements. All forward-looking statements
in this press release are based on information available to the company as
of the date hereof, and the company undertakes no obligation to update
forward-looking statements to reflect events or circumstances occurring
after the date of this press release.
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