Cordia believes that it is uniquely positioned to weather the current crisis as well as rapidly scale its delivery based kitchens in major cities once the virus threat has subsided.
The company forecasts that dine in restaurants will be significantly impaired by recent events. Many traditional restaurants that are now closed may not reopen. Social distancing could accelerate previous declines in the sector as consumers come to rely on delivery and pick up more and more.
The Company has been operating the Blind Pig in Las Vegas under an existing agreement. Cordia expects to conclude the full acquisition as was previously announced.
The Blind Pig is located at 4515 Dean Martin Drive across from the Las Vegas Strip and approximately one mile from the new Raiders Stadium. It also serves the residents of two condominium complexes which are adjacent to the restaurant with approximately 1200 residents.
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The Blind Pig (http://app.theblindpignv.com) is now open for delivery and curbside pickup only. Management is considering adding basic grocery items for take out due to the number of residents who live within walking distance of the location.
The company is also exploring prepared meals to meet the expected demands as other area restaurants close. The Las Vegas location is able to accept bitcoin and other cryptocurrencies.
The Blind Pig LLC is owned by a limited liability company that is controlled and managed by Peter Klamka who is also the CEO of Cordia Corporation.
Cordia has been working with its landlord to accelerate the planned opening of its location in West Hollywood. The company was also offered a location in the Koreatown section of Los Angeles.
The company anticipates that real estate, equipment and labor costs will be more favorable due to recent global events. New locations would be ghost kitchens and virtual restaurants only.
Virtual restaurants are the future
The company has had discussions with representatives of known brands or notable individuals about creating virtual restaurants. A virtual restaurant is an app based restaurant usually based on a well known chef or famous personality. Should these discussions come to fruition, these would be proprietary products to the company that after testing in Las Vegas and Los Angeles could be rolled out nationally and internationally.
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Cordia's management has extensive experience in brand licensing and promotion having worked with Michael Jordan, Mike Tyson, Hello Kitty, Disney, NASCAR, the CW Network, 21 Savage, Migos, Cardi B, G-Eazy, Claudia Schiffer, KISS, Saweetie, Christina Aguilera and Nelly.
This news release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities & Exchange Act of 1934, as amended, with respect to achieving corporate objectives, including developing the Company's business model, locating ghost kitchen locations, concluding planned acquisitions, and developing ghost kitchens and/or developing virtual restaurants. The Company's plans described above and otherwise are contingent upon adequate financing, of which there are no assurances. No information in this press release should be construed as any indication whatsoever of the Company's future financial results, revenues or stock price. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein.
SOURCE Cordia Corporation
Filed Under: Business
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