Cosi, Inc. Regains Compliance With Nasdaq Listing Standards
February 23 2012 - 6:30PM
Marketwired
Così, Inc. (NASDAQ: COSI), 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 Così, Inc. Così®
(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. Così'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 Così® vision is to become America's favorite fast
casual restaurant by providing customers authentic, innovative,
savory food while remaining an affordable luxury.
The Così® menu features Così® sandwiches, freshly-tossed salads,
breakfast wraps, melts, soups, Così® Squagels®, flatbread pizzas,
S'mores, snacks and other desserts, and a wide range of coffee and
coffee-based drinks and other specialty beverages. Così®
restaurants are designed to be welcoming and comfortable with an
eclectic environment. Così's sights, sounds, and spaces create a
tasteful, relaxed ambience that provides a fresh and new dining
experience.
"Così," "(Sun & Moon Design)" and related marks are
registered trademarks of Così, Inc. in the U.S.A. and certain other
countries. Copyright © 2012 Così, 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 Così's website at
http://www.getcosi.com in the investor relations section.
CONTACT: William E. Koziel Chief Financial Officer (847)
597-8803