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upshegrows

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upshegrows

Re: upshegrows post# 182

Monday, 04/27/2015 1:22:50 AM

Monday, April 27, 2015 1:22:50 AM

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http://richardnickelson.com/wp-content/uploads/2015/02/Nickelson-Complaint-FINAL-021615-Filed.pdf

If you are long this stock then this is an important read.. This is the lawsuit filed by the CFO that left. There really appears to be some questionable controls here. The board is not independent. There are improperly disclosed related party transactions and it appears that the franchises, en masse, aren't turning a profit?

To me, the parent is living off franchise fees that are being allocated by a biased board to their related party business through consulting fees etc.... . But the actual franchises they are selling don't appear to be able to make money..

I would love the "long" thesis for balance but this looks like a disaster waiting to happen.

Thoughts?
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