Sh*t if I know, I'm just on OTL old balls yo yo these days ... but prolly
El Tiempo having cash problems?
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119 Replies |
Last: 1 yr ago by Ciboag96
David_Puddy said:jetch17 said:
Yep, did a drive by and settled for westheimer for afternoon beveraging
El Real down the street from the old 1308 goes pretty hard.
Can confirm.
I didn't like it when it first opened but it's been great the last handful of times I've been.
I bought the gold VIP ($1,000) a couple months ago. It was definitely an impulse buy but I love it. I've taken friends and family a couple times on Friday nights and the most I've had to wait is about 5 minutes when the normal wait was over 45 minutes. .
My lifestyle is FAR from a VIP in anything (I don't keep up with the Jones's) but not going to lie, this card feels kinda cool when going there on a busy night and not having to wait.
There isn't an expiration date but I predict I will go through the $1,500 in about 18 months.
It may not be a great financial decision, but I get value out of it so it's worth it. There is also one about 5 minutes from my house.
My lifestyle is FAR from a VIP in anything (I don't keep up with the Jones's) but not going to lie, this card feels kinda cool when going there on a busy night and not having to wait.
There isn't an expiration date but I predict I will go through the $1,500 in about 18 months.
It may not be a great financial decision, but I get value out of it so it's worth it. There is also one about 5 minutes from my house.
IDaggie06 said:
I bought the gold VIP ($1,000) a couple months ago. It was definitely an impulse buy but I love it. I've taken friends and family a couple times on Friday nights and the most I've had to wait is about 5 minutes when the normal wait was over 45 minutes. .
My lifestyle is FAR from a VIP in anything (I don't keep up with the Jones's) but not going to lie, this card feels kinda cool when going there on a busy night and not having to wait.
There isn't an expiration date but I predict I will go through the $1,500 in about 18 months.
It may not be a great financial decision, but I get value out of it so it's worth it. There is also one about 5 minutes from my house.
Getting that much of a discount on food is definitely well worth it......especially if you go fairly often.
Figured I'd bump this thread.
Just got an email from El Tiempo about investing:
Just got an email from El Tiempo about investing:
Seems their VIP program didn't help with cash flow enoughQuote:
You are invited to be part of our private placement offering. The offering is only open to accredited investors under a Reg D exemption to the Securities Act (Rule 506(c) and will be comprised of up to 500 Convertible Promissory Notes at ten thousand ($10,000.00) dollars per Note. This represents a loan to El Tiempo Restaurants that can be conditionally converted into ownership interest within El Tiempo Restaurants. The Note will bear 10 to 12% interest until conversion.
The funds will be used to replenish working capital reserves expended during our 2022 expansion which helped recover losses from the pandemic.
Pretty sure the VIP program wrapped up in 2019. Sounds like they depleted their reserves on expansion and COVID related losses and this $5MM will be used to replenish and further expand.htxag09 said:
Figured I'd bump this thread.
Just got an email from El Tiempo about investing:Seems their VIP program didn't help with cash flow enoughQuote:
You are invited to be part of our private placement offering. The offering is only open to accredited investors under a Reg D exemption to the Securities Act (Rule 506(c) and will be comprised of up to 500 Convertible Promissory Notes at ten thousand ($10,000.00) dollars per Note. This represents a loan to El Tiempo Restaurants that can be conditionally converted into ownership interest within El Tiempo Restaurants. The Note will bear 10 to 12% interest until conversion.
The funds will be used to replenish working capital reserves expended during our 2022 expansion which helped recover losses from the pandemic.
nm
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Anyone been to the new 2 story patio location on Fry? Seems like a nice day to kill 5 margaritas outside.
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I'd be interested in investing in that... I wonder how they picked their target audience. I purchased two of the VIP cards a few years ago so I would think I'd be on their list.htxag09 said:
Figured I'd bump this thread.
Just got an email from El Tiempo about investing:Seems their VIP program didn't help with cash flow enoughQuote:
You are invited to be part of our private placement offering. The offering is only open to accredited investors under a Reg D exemption to the Securities Act (Rule 506(c) and will be comprised of up to 500 Convertible Promissory Notes at ten thousand ($10,000.00) dollars per Note. This represents a loan to El Tiempo Restaurants that can be conditionally converted into ownership interest within El Tiempo Restaurants. The Note will bear 10 to 12% interest until conversion.
The funds will be used to replenish working capital reserves expended during our 2022 expansion which helped recover losses from the pandemic.
EDIT:
"What is an accredited investor under Regulation D?
In the U.S, the definition of an accredited investor is put forth by SEC in Rule 501 of Regulation D. 2. To be an accredited investor, a person must have an annual income exceeding $200,000 ($300,000 for joint income) for the last two years with the expectation of earning the same or a higher income in the current year ..."
Oops, I will crawl back into my cave. Rich people get to have all the fun.
htxag09 said:
Figured I'd bump this thread.
Just got an email from El Tiempo about investing:Seems their VIP program didn't help with cash flow enoughQuote:
You are invited to be part of our private placement offering. The offering is only open to accredited investors under a Reg D exemption to the Securities Act (Rule 506(c) and will be comprised of up to 500 Convertible Promissory Notes at ten thousand ($10,000.00) dollars per Note. This represents a loan to El Tiempo Restaurants that can be conditionally converted into ownership interest within El Tiempo Restaurants. The Note will bear 10 to 12% interest until conversion.
The funds will be used to replenish working capital reserves expended during our 2022 expansion which helped recover losses from the pandemic.
What's the minimum check size?
$50K
those *******s aren't even honoring their previous VIP program.htxag09 said:
Figured I'd bump this thread.
Just got an email from El Tiempo about investing:Seems their VIP program didn't help with cash flow enoughQuote:
You are invited to be part of our private placement offering. The offering is only open to accredited investors under a Reg D exemption to the Securities Act (Rule 506(c) and will be comprised of up to 500 Convertible Promissory Notes at ten thousand ($10,000.00) dollars per Note. This represents a loan to El Tiempo Restaurants that can be conditionally converted into ownership interest within El Tiempo Restaurants. The Note will bear 10 to 12% interest until conversion.
The funds will be used to replenish working capital reserves expended during our 2022 expansion which helped recover losses from the pandemic.
I want me free Tres Leches!
It's basically a loan with an annual return of 10% for 60 months and then your principal is returned.
This is an opportunity to convert to stock if they go public but doubt that happens. It's been a while since I read it but think the value for conversion is set at $45 million so any valuation above that you'd benefit from.
They started with the Platinum people and then obviously didn't get enough participation so they went Gold and now I think they're doing anyone they have an email for.
I'm hoping they give those of us with a VIP card a chance to re-charge since it doesn't seem people are jumping on this opportunity.
I feel like the initial email went out 6 months ago.
Edit:
Just remember the payout options are:
1) $100 per month for every $10K for 60 months and then your $10K back.
2) $70 AND a $50 ET Gift Card for 60 months and then your $10K back.
I'm not investing because I require a higher Fajita/Rita ROI than currently offered. They spoiled us with the ROI on the VIP cards.
A $50 gift card a month to hold my $10K for five years ain't gonna cut it.
This is an opportunity to convert to stock if they go public but doubt that happens. It's been a while since I read it but think the value for conversion is set at $45 million so any valuation above that you'd benefit from.
They started with the Platinum people and then obviously didn't get enough participation so they went Gold and now I think they're doing anyone they have an email for.
I'm hoping they give those of us with a VIP card a chance to re-charge since it doesn't seem people are jumping on this opportunity.
I feel like the initial email went out 6 months ago.
Edit:
Just remember the payout options are:
1) $100 per month for every $10K for 60 months and then your $10K back.
2) $70 AND a $50 ET Gift Card for 60 months and then your $10K back.
I'm not investing because I require a higher Fajita/Rita ROI than currently offered. They spoiled us with the ROI on the VIP cards.
A $50 gift card a month to hold my $10K for five years ain't gonna cut it.
Or if they go belly up and have to restructure in C11.Chewy said:
It's basically a loan with an annual return of 10% for 60 months and then your principal is returned.
This is an opportunity to convert to stock if they go public but doubt that happens. It's been a while since I read it but think the value for conversion is set at $45 million so any valuation above that you'd benefit from.
They started with the Platinum people and then obviously didn't get enough participation so they went Gold and now I think they're doing anyone they have an email for.
I'm hoping they give those of us with a VIP card a chance to re-charge since it doesn't seem people are jumping on this opportunity.
I feel like the initial email went out 6 months ago.
Edit:
Just remember the payout options are:
1) $100 per month for every $10K for 60 months and then your $10K back.
2) $70 AND a $50 ET Gift Card for 60 months and then your $10K back.
I'm not investing because I require a higher Fajita/Rita ROI than currently offered. They spoiled us with the ROI on the VIP cards.
A $50 gift card a month to hold my $10K for five years ain't gonna cut it.
So to answer the OP.... El Tiempo is, in fact, having cash problems.
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Hmmm….Risk free US I Bonds at 9.62% or Basically Risk Free Margarita Bonds for 10% ? No way this could go wrong, right? It's not like the owners of El Tiempo have a history of bankruptcy or default, right?
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No way in hell I'd invest in a restaurant this way. I've had some great times at el tiempo and some above average meals. If ET goes belly up, it will be a Seinfeld "That's a shame" moment and nothing more.
It's really not that great.
It's really not that great.
I am not in finance or commercial lending but did once stay at a Holiday Inn Express.
If a company is going to their customers and trying to raise capital...probably not the best sign they are in good overall financial health.
Tells me every bank turned them down and this is a last resort.
If a company is going to their customers and trying to raise capital...probably not the best sign they are in good overall financial health.
Tells me every bank turned them down and this is a last resort.
I invested in Saint Arnold in 08 when they were raising capital for the 'newery' and the issue was they had to put down 10-20%. This was a private common stock investment so maybe different from El Tiempo, I think Buffalo Brewery was similar to El Tiempo's and they are having problems paying dividends.
Saint Arnold investment has done well and I've got lots of free beer.
Saint Arnold investment has done well and I've got lots of free beer.
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yeah, a few of the "Nextseed" ventures have had some issuesdrumboy said:
I invested in Saint Arnold in 08 when they were raising capital for the 'newery' and the issue was they had to put down 10-20%. This was a private common stock investment so maybe different from El Tiempo, I think Buffalo Brewery was similar to El Tiempo's and they are having problems paying dividends.
Saint Arnold investment has done well and I've got lots of free beer.
https://www.bizjournals.com/houston/news/2022/04/29/nextseed-republic-bars-restaurants-default-funding.html
Buffalo Brewery just had horrible timing. No fault of their own, but I believe their grand opening of their new place was like Dec. 2019. 10 weeks later we had the COVID fallout.
Recent article on them
https://www.chron.com/food/article/buffalo-bayou-brewing-lawsuit-17467288.php
Recent article on them
https://www.chron.com/food/article/buffalo-bayou-brewing-lawsuit-17467288.php
I've angel invested in two restaurants this way, but it was to kickoff the restaurant, not to try and save it. Angel investing is a good idea, IF you've done your homework on the opportunity and the general partner. Even at that, it's still risky. But, the benefit is you get to make money while wiping your ass every morning.
Having said that, not a chance in hell I'd invest in this venture. The track record of the GP is absolute trash and ET also has a proven record of cash flow issues. No, just no.
I'm not sure about other ETs, but the one on Washington is always packed when I go by. If these yahoos can't make money with people rolling through their door, it's a sure sign they have piss poor management.
Having said that, not a chance in hell I'd invest in this venture. The track record of the GP is absolute trash and ET also has a proven record of cash flow issues. No, just no.
I'm not sure about other ETs, but the one on Washington is always packed when I go by. If these yahoos can't make money with people rolling through their door, it's a sure sign they have piss poor management.
interesting....I went to school with Billy.Quote:
According to the lawsuit, Zarinfar stepped down as CEO of BuffBrew on Sept. 11, and was replaced by William McLucas, managing member of WPM Capital Partners, which was brought on in the past year to "(a) provide debt and equity capital to and (b) merge with" BuffBrew, the lawsuit states. WPM and McLucas are both defendants in the lawsuit, along with the brewery itself. McLucas did not return a request for comment.
Separately, I have heard that Zarinfar is a complete scumbag so not surprised they decided it was time for him to go.
agreed.CDUB98 said:
I've angel invested in two restaurants this way, but it was to kickoff the restaurant, not to try and save it. Angel investing is a good idea, IF you've done your homework on the opportunity and the general partner. Even at that, it's still risky. But, the benefit is you get to make money while wiping your ass every morning.
Having said that, not a chance in hell I'd invest in this venture. The track record of the GP is absolute trash and ET also has a proven record of cash flow issues. No, just no.
I'm not sure about other ETs, but the one on Washington is always packed when I go by. If these yahoos can't make money with people rolling through their door, it's a sure sign they have piss poor management.
I'm a little confused about the structure at El Tiempo now. I thought they had moved to the franchise model...or did they throw that out completely after the "Solid Gold Hospitality" fiasco?
The one on Navigation typically has a decent crowd. But agreed Washington always seems to be packed.
Don't forget today is Dom's Fajita Special. Think it is like $40 for a pound of mixed and a side of queso
Don't forget today is Dom's Fajita Special. Think it is like $40 for a pound of mixed and a side of queso
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Diggity said:interesting....I went to school with Billy.Quote:
According to the lawsuit, Zarinfar stepped down as CEO of BuffBrew on Sept. 11, and was replaced by William McLucas, managing member of WPM Capital Partners, which was brought on in the past year to "(a) provide debt and equity capital to and (b) merge with" BuffBrew, the lawsuit states. WPM and McLucas are both defendants in the lawsuit, along with the brewery itself. McLucas did not return a request for comment.
Separately, I have heard that Zarinfar is a complete scumbag so not surprised they decided it was time for him to go.
Dude must have been younger than you, right?
I have no idea.
yeah, quite a bit. this was grad schoolMilwaukees Best Light said:Diggity said:interesting....I went to school with Billy.Quote:
According to the lawsuit, Zarinfar stepped down as CEO of BuffBrew on Sept. 11, and was replaced by William McLucas, managing member of WPM Capital Partners, which was brought on in the past year to "(a) provide debt and equity capital to and (b) merge with" BuffBrew, the lawsuit states. WPM and McLucas are both defendants in the lawsuit, along with the brewery itself. McLucas did not return a request for comment.
Separately, I have heard that Zarinfar is a complete scumbag so not surprised they decided it was time for him to go.
Dude must have been younger than you, right?
Irish 2.0 said:
The one on Navigation typically has a decent crowd. But agreed Washington always seems to be packed.
Don't forget today is Dom's Fajita Special. Think it is like $40 for a pound of mixed and a side of queso
$42 as of last week.
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Diggity said:yeah, a few of the "Nextseed" ventures have had some issuesdrumboy said:
I invested in Saint Arnold in 08 when they were raising capital for the 'newery' and the issue was they had to put down 10-20%. This was a private common stock investment so maybe different from El Tiempo, I think Buffalo Brewery was similar to El Tiempo's and they are having problems paying dividends.
Saint Arnold investment has done well and I've got lots of free beer.
https://www.bizjournals.com/houston/news/2022/04/29/nextseed-republic-bars-restaurants-default-funding.html
I used to watch Nextseed quite a bit and even interviewed with them several years ago. I never invested and often wondered how they got some of their deals done. A lot of the deals were in high rate of failure businesses with capped investor upside that made them expected value losers right out of the gate.
**** that. I'll go to Teotihuacan on Airline instead. I actually prefer their fajitas and the margaritas aren't damn near a 2nd mortgagedrumboy said:Irish 2.0 said:
The one on Navigation typically has a decent crowd. But agreed Washington always seems to be packed.
Don't forget today is Dom's Fajita Special. Think it is like $40 for a pound of mixed and a side of queso
$42 as of last week.
try the carnitas
Irish 2.0 said:**** that. I'll go to Teotihuacan on Airline instead. I actually prefer their fajitas and the margaritas aren't damn near a 2nd mortgagedrumboy said:Irish 2.0 said:
The one on Navigation typically has a decent crowd. But agreed Washington always seems to be packed.
Don't forget today is Dom's Fajita Special. Think it is like $40 for a pound of mixed and a side of queso
$42 as of last week.
I'm a fan of Ts, especially Mondays with kids eat free and all day HH (I think that's M-W) but my wife and kids don't agree.
They're spoiled on ET and Candente.
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Take them to Taqueria Arandas and then they'll have an appreciation for Ts!drumboy said:Irish 2.0 said:**** that. I'll go to Teotihuacan on Airline instead. I actually prefer their fajitas and the margaritas aren't damn near a 2nd mortgagedrumboy said:Irish 2.0 said:
The one on Navigation typically has a decent crowd. But agreed Washington always seems to be packed.
Don't forget today is Dom's Fajita Special. Think it is like $40 for a pound of mixed and a side of queso
$42 as of last week.
I'm a fan of Ts, especially Mondays with kids eat free and all day HH (I think that's M-W) but my wife and kids don't agree.
They're spoiled on ET and Candente.
sh*t, now I want some El Tiempo
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