Hawaiian Bros · Fiscal Year Ended December...

Feb 2

2023

Fiscal Year Ended December 25, 2022

Revenues were $99.6 million
Opened 12 new restaurants, ending the year with 37 locations
Served over 7.5 million guests, achieving an average satisfaction rating of 4.7 stars

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3 years ago

I thought I'd provide an update on some company news I've read since the company hasn't provided updates or answered questions below.

THE GOOD

Hawaiian Bros has made a push into franchising, and this appears to be a successful move.

prnewswire.com/news-releases/hawaiian-bros-signs-two-new-multi-unit-franchisees-301806385.html

prnewswire.com/news-releases/hawaiian-bros-ignites-expansion-signing-stine-enterprises-as-first-multi-unit-franchisee-plans-for-75-additional-locations-301770999.html

THE BAD :(

939theeagle.com/construction-is-on-hold-at-south-columbia-hawaiian-restaurant-location

Construction being on hold at this location suggests that the company is facing a liquidity crisis imo. Not enough $ to finish building. Furthermore, if you read into the franchising announcements on other sites, it appears that Hawaiian Bros is SELLING some of these locations to franchisees (possibly to raise cash). ~ which again suggests potential liquidity concerns and begs the question, "why not return to the crowd to raise again at a more REASONABLE valuation?"

This is my opinion though. Read the above and make your own conclusions

UPDATE: Construction is on hold at south Columbia Hawaiian restaurant location | 93.9 The Eagle

Funding issues have delayed the opening of a Hawaiian restaurant on Columbia's heavily-traveled Grindstone Parkway. Construction has completely stopped at the site, which used to be a Jack in the Box. Hawaiian Bros Island Grill was being... Read more »

93.9 The Eagle

3 likes Reply

@nathan-basden @kweku-hanson @daniel-manriquez

3 years ago

0 Like

3 years ago

Looks like they've actually sold a total of 12 locations to franchisees.

franchisetimes.com/franchise_mergers_and_acquisitions/hawaiian-bros-ignites-expansion-with-88-store-deal-plus-more-bold-deals/article_d339343e-d570-11ed-b501-6759f0de6513.html

11 sold in the first franchisee announcement and 1 in the last franchisee announcement. I can't imagine they'd be quick to sell these locations if they had ample cash reserves...

3 years ago

0 Like

3 years ago

I agree with Kweku. I love the company, the food, and the information shared so far, but I would also appreciate a bit more information on quarterly trends, some context on the lower number of new restaurants and ghost kitchens for 2022 compared to the goal of 25 and 5, and what projections and strategy is for 2023? Are there any specific markets targeted for growth or is maintenance a strategy currently?

0 Like Reply

3 years ago

Michael, in all fairness to us investors, can you review the queries posted in response to your fiscal year update? These questions go as far back as over 40 days.

1 like Reply

3 years ago

Where can we see our shares value?
Not sure if we’re making $$ or not.
Kinda loss track where our money now

1 like Reply

@zandra-lorenzo republic.com/help/how-do-i-track-my-investment

3 years ago

0 Like

3 years ago

@carol-diraimo With that generic message, so when specifically can we see an update on our investment?

3 years ago

0 Like

3 years ago

I really do hope a Florida or Georgia location is in the future!
Closest places to my home (Bahamas). I did make a recent trip to a ghost location in Chicago back in November but I'd like to pop in a bit more frequent!

0 Like Reply

3 years ago

So happy for your continuing success! Hard work pays off!

1 like Reply

3 years ago

Look forward to franchises opening in Miami/Ft. Lauderdale soon.

1 like Reply

@lajavia-benjamin yes!

3 years ago

0 Like

3 years ago

Any plans to come Georgia any time soon? Within 1 year or 2? Many restaurant chains do well here.

2 likes Reply

3 years ago

Glad to hear you are opening a restaurant in NW Arkansas in Springdale AR. NWA Arkansas is growing rapidly.
Would like to see more details on financial information.
Thank You:
William Burnett

1 like Reply

3 years ago

Awesome!! Love, love this!!!
😳😳😍😍💪💪🤑🤑🚀🚀

0 Like Reply

3 years ago

Sounds good, but what about the details? In the fundraising offer, there were 21 locations and 5 ghost kitchens. Unit volume was 4M+. With revenue of 100M and 37 locations, is unit volume down?

6 likes Reply

3 years ago

😎👏🚀

1 like Reply

3 years ago

Thanks for the update

1 like Reply

3 years ago

Thank you for the update. Opening 12 new restaurants in 2022 is about half of the 20-25 new locations that were projected during your fundraising campaign. Can you talk about what affected the change in strategy? Also, can you break revenues down by quarter? (Bearing in mind that 2022 was a tough year in a lot of ways, I'm interested in whether the trend in revenues was steady, up or down.)

15 likes Reply

3 years ago

I agree with Steven & Benjamin I would like to know what the P&L was for the fiscal year, and projections for this year.

8 likes Reply

3 years ago

I agree with Ben. Could you provide some additional information regarding earnings. Did Hawaiian Brothers have net income for the year. What are the projections for the new year. Is there a way to find out what the share price might be for those of us that own a piece of the company. Thank you.

14 likes Reply

@steven-melsha I think, if it were positive this year, they would have said so. Safe to assume that it's not. :( Guess we'll see soon enough: sec.gov/edgar/browse/?CIK=1879942

EDGAR Entity Landing Page

Sec

3 years ago

0 Like

3 years ago

Mazel Tov to the team! 100M is incredible. What were the targets?

2 likes Reply

3 years ago

What is the rough net income or net loss for fiscal year. Thank you

10 likes Reply

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