From the Wires
Baristas Forms Advisory/Oversight Board to Assist in Moving to Senior Exchange. Mike Adams Named Chairman.
By: PR Newswire
Dec. 12, 2012 06:22 AM
SEATTLE, Dec. 12, 2012 /PRNewswire/ -- Baristas Coffee Company, Inc. (OTCPK: BCCI) announced that it has formed a Board of Advisors and Oversight Committee to provide guidance and oversight for the purpose of moving to a senior exchange. The Board will serve as an independent third party insuring compliance, fiduciary responsibility, and guidance regarding allocation of resources and capital structure. It will also examine processes and procedures relating to controls and financial modeling. A. Michael Adams will serve as the Chairman of The Board and will appoint its other members from various disciplines. Mike will also serve as a director of Baristas Acquisition Partners, Inc. (BAPI), recently established by Baristas for the purpose of acquiring TC Global, Inc. "Tully's."
A. Michael Adams commented; "Having been a long term investor in Starbucks I have been closely watching the progress of Baristas for a number of years now. I have been particularly impressed by the management and their relentless commitment to having Baristas grow its business. I am a firm believer in the business model and its potential to quickly become a global brand. The establishment of this Board will provide the proper guidance and oversight that is required to allow Baristas to meet its objectives while giving investors greater confidence."
Barry Henthorn, Baristas CEO, stated; "Baristas has reached a critical point in its evolution where it is uniquely positioned to capitalize on the leadership and guidance from leaders in a variety of disciplines. We are very proud to have been able to grow the business to the point where it has attracted the attention of professionals from a variety of disciplines that are at the top of their industry. It is our commitment to move Baristas to a senior exchange in order to provide our investors maximum return, transparency, and liquidity while providing the proper capital required for our growth. Mike is one of the most respected wealth managers in the business and the insight and direction provided by the Advisory/Oversight Board at his helm will prove to be invaluable."
About A. Michael Adams: A. Michael Adams ("Mike") founded Adams Financial Concepts as a Registered Investment Advisor. Formerly a Senior Vice President and Senior Portfolio Manager at Wachovia Securities, LLC, Mike has been a securities portfolio manager since 1990. He began his career in the financial industry at Paine Webber in 1986, where he was a retail stockbroker. In 1990, Mike moved to Dain Rauscher to transition his business from the traditional transaction-based stock and bond trading to fee-based portfolio management. From the inception of his career, Mike has been recognized as a leader in the industry. Earlier training as a mathematician enabled him to interpret portfolio dynamics in "game theory" terms. Mike Adams gained a master's degree in industrial administration from Carnegie Mellon University and a bachelor's degree from Oregon State University. He recently served as Vice President of the Board of Directors of Seattle International Film Festival. He formerly served as Chairman of the Board of Directors of Seattle Theatre Group (a not-for-profit corporation), operator of The Paramount and The Moore Theatres. He has served on a number of other boards including the Seattle Symphony. Mike also hosts a radio program on KKOL 1300 AM called "About Money". For the past four years, Adams has been selected as one of Seattle's 5 Star Wealth Managers, a title that not many financial advisors can claim.
About Baristas Coffee Company (BCCI)
Headquartered in the Seattle, Washington area, Baristas Coffee Company, Inc. was formed to create a national brand of drive-thru espresso stands. BCCI has accomplishing this by acquiring established businesses that fit its model, opening new locations, and franchising. Baristas has separated itself from the competition with its "theme" of joining attractive female baristas in entertaining costumes and preparing the finest beverages available on the market. Baristas can currently be found in six greater Seattle area locations as well as in Texas, Florida, Montana, and Arizona. Your state, Coming Soon!
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SOURCE Baristas Coffee Company, Inc.
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