Pho is a Vietnamese noodle soup made up of broth, linguine-shaped rice noodles, meat and herbs usually served with chicken or beef. South Vietnamese people generally eat pho in the first half of the day, whereas North Vietnamese people eat it at any time. With recipe input from different cultures, there are now many types of pho cuisine. If you’re eating at the Pho House Far North Dallas, you’re not having it before 11 a.m. because that’s when the restaurant opens, and not on Sunday because the restaurant is closed. If you have to have a pho fix on a Sunday, there’s other specialty Vietnamese restaurants in the Dallas area, including one called "Pho is for
Lovers," that are open for your dining pleasure.
It sounds like there is going to be more pho for everyone if USA Restaurant Funding, Inc. (OTCPK:SAMP), the company previously called South American Properties and the owner of Pho House Far North Dallas has anything to say about it. Citing robust demand, USA Restaurant moved the original Pho House restaurant near the Galleria Mall in North Dallas to its current, larger location on North Dallas Parkway in December.
Last month, the company said it expects the restaurant to achieve a net profit in January on the back of special event bookings. Pho House Far North Dallas has hosted charity events, including one by The Tom Joyner Foundation. Other special events, such as a birthday party for the popular radio show host DeDe McGuire, have brought awareness of the restaurant to the community, local celebrities and athletes.
USA Restaurant Funding reports that business at the first Pho House is exceeding expectations, aided by new signage and a social media campaign lending to lunch and dinner traffic doubling in the past month. That has "made the decision to open more locations easy," according to a corporate statement on Tuesday.
Per the announcement, USA Restaurant Funding has signed term sheets for two new Pho House restaurant locations in the Dallas Fort-Worth Metroplex. No details were provided other than "specific locations, terms and updates are expected to be released next week" and that the company is confident that demand is strong enough to support opening "many more" Pho House locations.
Whether consumers love the pho or not, investors apparently aren’t sold yet on USA Restaurant Funding as a company with shares lingering at deep sub-penny levels, even dipping as low as $0.0008 at the start of the year. The stock can turn some volume, though, even with only 101 million shares outstanding, which for a stock at this price point it is not uncommon to find a mind-numbing share structure in the hundreds and hundreds of millions of even billions of shares outstanding. How the company funds the new locations and expansion is something to be mindful of for dilution, but if they indeed start pulling down a net profit on a monthly basis; that’s a rare occurrence so quickly for a restaurant and also something to pay attention to.
As always, we encourage much more due diligence as we concede that a market capitalization of only $100,000 is arguably low for a company actually prudently growing a restaurant franchise.
Shares of SAMP closed ahead by 10% at $0.0011 on 66.8 million in volume on Tuesday.
