Question 1

Two questions: 1. Is the portable kitchen stationary at the same location everyday? 2. Is cooking a pizza in 15 minutes in a wood fired pizza considered fast?

Accepted Answer

Thank you Kevin, It is at the same location. The pizzas cook in about 90 seconds in our 900 degree wood-burning oven. This is much faster. Typical pizza ovens using gas or air impingement usually take 5-8 minutes to cook. Rick

Question 2

I see that in 2018 you grew revenue about about 250k from 2017 but losses more than doubled from 2017. Can you explain what happened there? One of-course wants to see losses go down as one scales. Also any chance you can share how 2019 has panned out?

Accepted Answer

Thanks Pedro! Yes, glad to cover this. Our sales increased so fast that our low tier equipment started to buckle. We had to invest in infrastructure, going to industrial equipment. We also did the largest music event in San Francisco (Outside Lands). To scale for this required even more capital and team resources. We had to prepare for what we sold in one week to selling that volume each day for three days. Unfortunately, with where were placed at the event, we took a loss. They also had us u...

Question 3

Is there a way to cut operational expenses? I noticed you said 72K was operational expenses and 16K was cost of goods - so that is 88K outflows per month w/ 80 revenue per month, that is what, -8K revenue per month? Anyway to break even somehow? Or, if not, do you have reserve...

Accepted Answer

Thanks, Francis, We reached break-even last quarter. But your question is a great opportunity for me to talk about what is so compelling to me about this new business model and why investors should be interested. I want to help investors understand a clustered kitchen operational model. It is very different with much more opportunity and flexibility than a brick and mortar dine-in concept. Unlike traditional brick and mortar restaurants where you would look at the first single location P&...

Question 4

One thing I just thought of is there is going to be issue w/ carbon footprint re. wood burning ovens - wood burning is much more carbon than say natural gas based oven. Ppl care about carbon more than they used to, rightly or wrongly, that is just a market condition now. Will ...

Accepted Answer

Thanks Francis, These ovens, due to the design and materials, are one of the most efficient and clean ways to burn wood. Very different than a fireplace. Should that issue come up though, we would switch to gas assist. There are also filtration systems that can be installed.

Question 5

I've seen your emails around the current Corona virus situation as it has been unfolding here in San Francisco. Very much impressed with your communication around this to your customers. Can you provide more color on the impact you are seeing right now? Are orders increasing? ...

Accepted Answer

Thanks Pedro, Our delivery orders this weekend surged by 53%. Saturday may have been the busiest day in the history at Firepie. I am looking for previous history to validate. With this said, I want to make sure this is a trend before making any conclusions of the correlation to current events. It is highly probable there is at least some correlation but need more data over the next 10 days. Furthermore, we have made team and public safety a priority and this will add approximately 3-7 minutes...

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