History
The original Twistee Treat was a franchised chain of ice cream restaurants, founded in 1983 in North Fort Myers, Florida. The restaurants are characterized by buildings shaped in the form of soft-serve ice cream cones.
The original company, which had 23 locations in Florida, went into bankruptcy in the early-1990s. A new Twistee Treat company, based in Warrensburg, Missouri, was formed in 1996. As of 1999, the new company had 35 locations in Florida and Missouri. The company also sold a franchise to a Chatham, Ontario-based company that year.
Twistee Treat Corporation TM (the "Company") was incorporated in Missouri on April 27, 1995 and redomiciled in Delaware in June 1997. The original Twistee Treat Corporation was formed in the early 1980s as a Colorado corporation doing business primarily in Florida. By the mid 1980s it had opened approximately 35 company stores, but no franchise units. The original Twistee Treat Corporation utilized proprietary cone-shaped buildings to sell its dessert products and obtained certain federal and state patents, trademarks and service marks in connection with its business. In 1989, Twistee Treat's original founder retired and Twistee Treat filed for bankruptcy protection (U.S. Bankruptcy Court, Middle District of Florida, Ft. Myers Division, Case No. 89-4700-9P1). On August 6, 1990, Andrew Brennan, a founder and former principal stockholder of Twistee Treat, purchased the assets of the original Twistee Treat Corporation from the Bankruptcy Court, including its patent, trademark and service mark rights. Subsequently, Mr. Brennan sold 50% of his interests in such assets to Don Matthews, owner of Soft Serve System, Inc., a Missouri corporation. In 1996, Messrs. Matthews and Wells reorganized the Company, with Mr. Matthews contributing his 50% of the assets obtained from the original Twistee Treat Corporation. On May 6, 1997, Mr. Brennan sold his 50% interest in the assets obtained from the original Twistee Treat Corporation.
As of November 30, 2005, the Company had three inactive franchises. The Canadian franchisee is still producing revenues, but is not paying any franchise fee to Twistee Treat pending a resolution of outstanding claims described elsewhere in this report. The Company is attempting to raise funding for its product line or engage in alternative business activities by merger or acquisition. The Company conducted no direct operations during the last two (2) fiscal years ended November 30, 2004 and 2005, respectively.
In 2010 a new company, Twistee Treat USA began building new stores.
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