Cordia Kitchens Updates Ghost Kitchen Progress
LAS VEGAS, Aug. 31, 2020 /PRNewswire/ -- Cordia Corporation (OTC: CORG) today provided an update on the execution of its ghost kitchen business plan.
Virtual Dining Brands. The company has two virtuals (www.virtualdiningbrands.com) now operating in the Las Vegas market. These restaurants have allowed the company to evaluate its concepts, develop custom packaging and delivery procedures, and position the company to scale its future brands.
Cordia is building a subscription program for virtuals that will allow customers to sign up for a fixed number of meals every month for one price. The company expects to integrate the subscription service with its existing virtual currency rewards program.
Celebrity Brands. Cordia believes that there is significant opportunity in branded menus for delivery apps. The company has one celebrity brand under contract. Additionally, the company is in negotiations for five additional brands. Cordia is working with both US Foods and Sysco to develop custom menus for each opportunity.
The company projects that these these partnerships have the potential to be rolled out to at least 500 restaurants in the next 12 months. Cordia anticipates that each licensed virtual brand would generate a minimum of
Management believes that a portfolio of brands would allow the company to aggressively capture market share and to secure favorable rates with delivery apps.
Blind Pig Las Vegas. The company's owned location is operating and serves as the back end for the virtual brands. Additionally, the company intends to add gaming to the Las Vegas location. The Bling Pig in partnership with a Nasdaq listed company plans to offer video poker to dine in patrons.
Additional Company Owned Locations. The company has had discussions with a national restaurant chain about acquiring additional units in different states. These units would serve as company owned locations for ghost kitchens, virtual restaurants, and potential dine in. During the past month, the company has fielded offers from landlords, developers, and independent restaurants to acquire closed or closing restaurant space.
The company's target cities remain Los Angeles, San Diego, Dallas, Ann Arbor and the New York metropolitan area.
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, creating menu items the general public is interested in buying, securing celebrity partnerships and developing virtual restaurants and adding additional locations. 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.
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SOURCE Cordia Corporation
