Cosi, Inc. (OTCMKTS:COSIQ) Files An 8-K Regulation FD Disclosure
ITEM 7.01.
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Regulation FD Disclosure
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Company, for itself (on a consolidated basis), and for
each of Cosi Sandwich Bar, Inc., a Delaware corporation
(CSB), Xando Cosi Maryland, Inc., a Maryland
corporation (Xando Maryland), Hearthstone Associates,
LLC, a Massachusetts limited liability company
(Associates), and Hearthstone Partners, LLC, a
Massachusetts limited liability company (Partners,
together with CSB, Xando Maryland, and Associates, each a
Cosi Sub and collectively, the Cosi Subs),
submitted to the Office of the United States Trustee, Region
1 (the U.S. Trustee) monthly operating reports for the period
from September 28, 2016 to October 24, 2016 (the Monthly
Operating Reports) with respect to a bankruptcy filing
with the United States Bankruptcy Court for the District of
Massachusetts (Eastern Division) (the Court). The
Court has had jurisdiction over the Company and the Cosi Subs
under Chapter 11 of the United States Bankruptcy Code since
they filed voluntary Chapter 11 petitions on September 28,
2016 (Case No. 16-13704 (MSH)) (the Chapter 11 Cases). Copies
of the Monthly Operating Reports are attached as Exhibits
99.1 to 99.5 to this report.
Form 8-K is being furnished to Item 7.01 of Form 8-K and shall
not be deemed filed for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the Exchange Act),
or otherwise subject to the liabilities of that section. The
information in Item 7.01 of this Form 8-K shall not be
incorporated, or deemed incorporated, by reference into any of
the Companys filings under the Securities Act of 1933, as
amended, or the Exchange Act, whether made before or after the
date hereof and regardless of any general incorporation
language in such filings, except to the extent expressly set
forth by specific reference in such a filing. The filing of
this Item 7.01 of this Current Report on Form 8-K shall not be
deemed an admission as to the materiality of any information
herein that is required to be disclosed solely by reason of
Regulation FD.
place undue reliance upon the information contained in the
Monthly Operating Reports, which were not prepared for the
purpose of providing the basis for an investment decision
relating to any of the Companys securities, and relates
solely to the Company and the Cosi Subs (collectively the
Debtors). The Monthly Operating Reports are limited in scope,
cover a limited time period, and have been prepared solely
for the purpose of complying with the monthly reporting
requirements of the Office of the United States Trustee. The
Monthly Operating Reports were not audited or reviewed by
independent accountants, are in a format prescribed by
applicable requirements of the Office of the United States
Trustee and are subject to future adjustment and
reconciliation. There can be no assurance that, from the
perspective of an investor or potential investor in the
Companys securities, the Monthly Operating Reports contain
any information beyond that required by the Office of the
United States Trustee. The Monthly Operating Reports also
contain information for periods that are shorter or otherwise
different from those required in the Companys reports to the
Exchange Act, and such information might not be indicative of
the Companys financial condition or operating results that
would be reflected in the Companys financial statements that
may be expected from any other period or that may be expected
if restructuring transactions are consummated. Results set
forth in the Monthly Operating Reports should not be viewed
as indicative of future results.
access to documents filed with the Bankruptcy Court and other
general information about the Chapter 11 Cases and the 363 sale
process, is available at a subscription based service known as
PACER at
https://pacer.mab.uscourts.gov/cgi-bin/login.pl.
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ITEM 9.01.
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Financial Statements and Exhibits
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herewith.
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Exhibit No.
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Description
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Paper (P) or
Electronic (E)
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99.1
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Cosi, Inc. Consolidated Monthly Operating Report for
the Period from September 28, 2016, to October 24, 2016. |
E
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99.2
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Cosi Sandwich Bar, Inc. Monthly Operating Report for
the Period from September 28, 2016, to October 24, 2016. |
E
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99.3
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Xando Cosi Maryland, Inc. Monthly Operating Report for
the Period from September 28, 2016, to October 24, 2016. |
E
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99.4
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Hearthstone Associates, LLC Monthly Operating Report
for the Period from September 28, 2016, to October 24, 2016. |
E
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99.5
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Hearthstone Partners, LLC Monthly Operating Report for
the Period from September 28, 2016, to October 24, 2016. |
E
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About Cosi, Inc. (OTCMKTS:COSIQ)
Cosi, Inc. owns, operates and franchises restaurants. The Company offers a range of house coffees and other espresso-based beverages, handcrafted specialty drinks, along with soft drinks, flavored teas, bottled beverages, including premium still and sparkling waters, teas and, in some locations, beer and wine. The Company operates approximately 110 company-owned and franchised restaurants operating in over 15 states, the District of Columbia, the United Arab Emirates (UAE), and Costa Rica. It operates and develops in both urban and suburban markets. It offers food and beverage products for approximately four dayparts, which include breakfast, lunch, snacking and dinner. The Company’s food menu includes hot and cold sandwiches, hand-tossed salads, bowls, soups, appetizers, flatbread pizzas, Squagels, breakfast wraps and other breakfast products, S’mores and other desserts. The Company features its Cosi bread in approximately two varieties, Original and Multi-Grain. Cosi, Inc. (OTCMKTS:COSIQ) Recent Trading Information
Cosi, Inc. (OTCMKTS:COSIQ) closed its last trading session down -0.0010 at 0.0590 with 16,069,173 shares trading hands.
