DEERFIELD, IL, Feb 23, 2012 (MARKETWIRE via COMTEX) —
Cosi, Inc.
/quotes/zigman/89355/quotes/nls/cosi COSI
+1.90%
, the fast casual restaurant company,
today announced that it has received notice from the Listing
Qualifications Department of The Nasdaq Stock Market that the Company
has regained compliance with the Nasdaq Listing Standards by curing
the Company’s bid price and Market Value of Listed Securities
deficiencies. As of February 17, 2012, the bid price of the Company’s
common stock had closed above the $1.00 minimum requirement for a
period of 10 consecutive trading days. Additionally, based on total
shares outstanding of 51,849,511 shares, the Company common stock has
exceeded the minimum $50 million Market Value of Listed Securities
requirement as required by Listing Rule 5450(b)(2)(A). The Company
now meets the continued listing standards for The Nasdaq Global
Market and no further action is required.
About Cosi, Inc.
Cosi(R) (
http://www.getcosi.com ) is a national fast
casual restaurant chain that has developed featured foods built
around a secret, generations-old recipe for crackly crust flatbread.
This artisan bread is freshly baked in front of customers throughout
the day in open-flame stone-hearth ovens prominently located in each
of the restaurants. Cosi’s warm and urbane atmosphere is geared
towards its sophisticated, upscale, urban and suburban guests. There
are currently 80 Company-owned and 56 franchise restaurants operating
in seventeen states, the District of Columbia and the United Arab
Emirates. The Cosi(R) vision is to become America’s favorite fast
casual restaurant by providing customers authentic, innovative,
savory food while remaining an affordable luxury.
The Cosi(R) menu features Cosi(R) sandwiches, freshly-tossed salads,
breakfast wraps, melts, soups, Cosi(R) Squagels(R), flatbread pizzas,
S’mores, snacks and other desserts, and a wide range of coffee and
coffee-based drinks and other specialty beverages. Cosi(R)
restaurants are designed to be welcoming and comfortable with an
eclectic environment. Cosi’s sights, sounds, and spaces create a
tasteful, relaxed ambience that provides a fresh and new dining
experience.
“Cosi,” “(Sun Moon Design)” and related marks are registered
trademarks of Cosi, Inc. in the U.S.A. and certain other countries.
Copyright Copyright 2012 Cosi, Inc. All rights reserved.
“SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995. This press release contains statements that
constitute forward-looking statements under the federal securities
laws. Forward-looking statements are statements about future events
and expectations and not statements of historical fact. The words
“believe,” “may,” “will,” “should,” “anticipate,” “estimate,”
“expect,” “intend,” “objective,” “seek,” “plan,” “strive,” or similar
words, or negatives of these words, identify forward-looking
statements. We qualify any forward-looking statements entirely by
these cautionary factors. Forward-looking statements are based on
management’s beliefs, assumptions and expectations of our future
economic performance, taking into account the information currently
available to management. Forward-looking statements involve risks and
uncertainties that may cause our actual results, performance or
financial condition to differ materially from the expectations of
future results, performance or financial condition we express or
imply in any forward-looking statements. Factors that could
contribute to these differences include, but are not limited to: the
cost of our principal food products and supply and delivery shortages
and interruptions; labor shortages or increased labor costs; changes
in demographic trends and consumer tastes and preferences, including
changes resulting from concerns over nutritional or safety aspects of
beef, poultry, produce, or other foods or the effects of food-borne
illnesses, such as E. coli, “mad cow disease” and avian influenza or
“bird flu”; competition in our markets, both in our business and in
locating suitable restaurant sites; our operation and execution in
new and existing markets; expansion into new markets including
foreign markets; our ability to attract and retain qualified
franchisees and our franchisees’ ability to open restaurants on a
timely basis; our ability to locate suitable restaurant sites in new
and existing markets and negotiate acceptable lease terms; the rate
of our internal growth and our ability to generate increased revenue
from our existing restaurants; our ability to generate positive cash
flow from existing and new restaurants; fluctuations in our quarterly
results due to seasonality; increased government regulation and our
ability to secure required government approvals and permits; our
ability to create customer awareness of our restaurants in new
markets; the reliability of our customer and market studies; cost
effective and timely planning, design and build out of restaurants;
our ability to recruit, train and retain qualified corporate and
restaurant personnel and management; market saturation due to new
restaurant openings; inadequate protection of our intellectual
property; our ability to obtain additional capital and financing;
adverse weather conditions which impact customer traffic at our
restaurants; and adverse economic conditions. Further information
regarding factors that could affect our results and the statements
made herein are included in our filings with the Securities and
Exchange Commission.
Additional information is available on Cosi’s website at
http://www.getcosi.com in the investor relations section.
CONTACT:
William E. Koziel
Chief Financial Officer
(847) 597-8803
SOURCE: Cosi, Inc.
Copyright 2012 Marketwire, Inc., All rights reserved.
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