Monday, September 21, 2015 6:09:48 PM
They have barely any more revenue than what they had Q3 almost 2 years ago.
Their Accounts Payable are terrible.
They claimed that they made a net profit in July, but I honestly think that it's because they had no money to spend - if they had anything to spend or any more Accounts Payable to squeeze they would have had a loss for that month as well, but that's just a guess.
South Korea cooled down - and I haven't heard of any new cafes opening in a while.
When JAMN took debt before, their growth was ahead of them. Now they're taking on debt with no growth going on. They're betting on Eco-cups being the thing that turns the company around, but it won't. Consumers have never heard of JAMN or Marley Coffee; they'll have no idea that JAMN is going to have Eco cups. And even if they did, they wouldn't use them - coffee drinkers are loyal to their brands and all they see is a small cup that they're throwing away; they don't think about the fact that millions of other people are doing it as well.
They have surprised me before, but they're in pretty deep at this point and I don't see them having much of a plan.
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