Monday, June 2, 2008

Mountain View restaurant location - uWink

On May 23, 2008, following receipt of final California Department of Alcoholic Beverage Control approval, the Company closed escrow on the acquisition of certain restaurant equipment and a liquor license (for use at its new restaurant location at 401 Castro Street, Mountain View, California) from Miyake Foods, Inc., the former occupant of the space leased by the Company in Mountain View. The consideration for this asset acquisition was $250,000 in cash. The Company currently estimates that the Mountain View restaurant location will open in late July 2008, although there can be no assurance that factors outside of the Company's control (including, among other things, certain city and landlord approvals) will not cause a delay in the estimated opening timeline.

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