SOURCE: Prime Restaurants, Inc.

January 10, 2008 09:06 ET

Baron International Announced Today That It Will Start Field Testing of a New State-of-the-Art Beverage Control System

FT. MYERS, FL--(Marketwire - January 10, 2008) - Baron International, being acquired by Prime Restaurants, Inc. (PINKSHEETS: PRSU), today announced that it will start field testing of a new state-of-the-art beverage control system.

Baron International has been given the opportunity to be the United States distributor of the new beverage control system manufactured by Takk Systems Inc. Field testing of the system will be done by installing several systems in Baron's Refrigeration Division's restaurant and hotel clients' establishments such as Applebees, Ruby Tuesday, Red Lobster, Olive Garden, and similar operations.

Should the field tests respond successfully as expected, Baron anticipates substantial revenue flow from the sales and leasing of the systems, as well as recurring revenues from service contracts and monitoring fees.

The new systems reduce spillage, over pouring and theft in draft beer and liquor dispensing systems. Statistics from the National Restaurant Association indicate that loses due to slippage and theft range from 10% to 30%.

The systems feature flow meters that interface with beer lines and liquor "guns." The system measures every pour and reports all information to a central monitoring office. It then matches every pour with every beverage sale to see if there is any over pouring, spillage or theft. Customers can view their accounts "real time" by simply logging on to the company website, or in cases of irregularities can be alerted by e-mail or fax.

This seems to be the only system of its type on the market and the potential clients for such a system are limitless, as waste and theft are two of if not the biggest problems facing the beverage part of any establishment that serves alcohol.

"We are always looking for additional quality products to introduce to our clients while increasing revenue for the company. If this system tests the way we anticipate it will, Baron will realize millions of dollars in new revenue as we will become the distributor for the entire United States," said Mr. Robert Ingala, President, Baron International.

About Baron International:

Baron International, Inc., a multi-million dollar a year revenue operation, was founded in 1982 by Mr. Robert Ingala and Mr. Norman Kushner. Since its inception, the company built many restaurants and has sold several beer systems and equipment. The company serves major companies such as Applebee's, Pepsi and National Amusement (Mr. Summer Redstone, Viacom), among many other major corporations.

About Prime Restaurants, Inc.

Prime Restaurants, Inc. is a Restaurant Owner/Operator Holding Company devoted to the restaurant and food service industry, with an aggressive growth plan. The company's capitalization is presented below:

Authorized Common Shares:           180,000,000
Restricted Common Shares:           155,733,240
Common Shares in the Public Float:   24,266,760

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Contact Information

  • Contact:
    Prime Restaurants, Inc.
    Investor Relations
    Tel: 1-866-532-5908
    Fax: 1-239-437-5777