Cosi has recently announced its latest earnings call will be held Thursday, November 10 at 5pm ET. Registration information for the webcast conference call can be found at http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=131610&eventID=4216665. BLUM Growth Fund encourages shareholders to register for the call and to communicate their questions and concerns to the Board of Directors.
About BLUM Growth Fund
BLUM Growth Fund, LLC is a private entrepreneurial capital investments company that is part of BLUM Enterprises, LLC. Brad Blum is Founder and Owner of BLUM Enterprises, whose
mission is to “Provide Good Food for the Planet.”
Based in Winter Park, Florida, and with offices in New York City, BLUM Enterprises is a progressive company dedicated to creating and operating highly profitable restaurant brands that focus on providing good food with exceptional flavor and responsible nutrition. The company also invests entrepreneurial capital and works closely with established restaurant brands to achieve outstanding profitability and shareholder value using this approach.
A Review of Actions to Date
The following describes Cosi’s dire situation that has led shareholders to openly express a complete loss of confidence in the current Board of Directors and profound concern that Cosi will be subject to bankruptcy or buyout, losing all its value and the entire value of current shareholder investments in the company.
Cosi has never made a profit with this Board of Directors in office. Instead, the company has accumulated a staggering loss of $57.8 million in the past five years under this Board of Directors, in excess of 140% of its current market capitalization, driving the stock price from $11.21 in March 2006 to a low of $0.56 on September 12, 2011.
BLUM Growth Fund, LLC owns 3.5 million shares of Cosi stock, representing 6.8% of the company and has filed the required 13D notice with the SEC. Blum, its founder, is an experienced restaurant turnaround expert, having served as president of Olive Garden for 8 years, achieving 33 consecutive quarters of profitable same-restaurant sales increases and boosting average annual sales per restaurant from $2.4 million to $4.0 million.