90% of income is still coming from mcd’s
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90% of income is still coming from mcd’s
Hardly surprising given the massive global coverage of Mac Donald’s, great to have an anchor client, also an investor, but it does have risk. I expect to see White Castle come into the revenue stream and Super Indo in FY21 with the potential to Expand into Ahold Delhaize which would be a massive game changer.
McDonalds acquired 13,795,311 Plexure shares (9.83%) via Atlas Bear LLC @ $0.3905 (15% premium to market) = $5,387,069 purchase price, now worth $21,244,779 at market close Friday 23 October.
That's a 394% gain on their investment and they remain the 2nd largest shareholder. Reckon McDonalds are pretty happy with their 'investment'.
All small change to McDonalds. Their major benefit was that they could block Plexure from selling software to other fast food chains. White Castle were signed up before McDonalds intervention so is the last chain to be a customer of Plexure. It is very pleasing to see the success that they are having with Super Indo.
That reads like an oversimplification, have a look at the actual announcement and break it down. For a no sell to a 'defined list of competitors' (in QSR) Plexure has open access to McDonalds world wide. https://www.nzx.com/announcements/332813 2/4/2019, 8:31 am
Three months later Plexure announces WhiteCastle, I guess they weren't on the defined list of competitors? https://www.nzx.com/announcements/337897 22/7/2019, 8:30 am
"..... United States’ fast-food burger chain White Castle......often hailed as America’s first fast-food chain, White Castle boasts almost 400 restaurants located across 13 states....."
You would have thought White Castle would have made it onto the defined list of competitors. Guess its not a very comprehensive list, so that's good. Hard to see anything not to like about PLX, feels like a company about to break out. I like the potential, cash flow positive, actually profitable. They've been around a while though without really getting going. Are they paddling frantically to stay where they are or are they about to get lift-off? I know I looked at them a year or so ago and thought the risk was too high, that was a mistake in hindsight.