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looks like they are settling w/ Richardson and clearing his good name in the new 8K
Well done, Cote and crew are doing all the right things to get this company back on track
Now if they could only bring Pappas back in some what, the stock and company will really do well.
The man is a genius and the magic that was behind CLCN
Looks like Brian is dumping. This thing will skyrocket once he is behind them. He is just a thorn prick that is healing now. Almost forgotten
what do you think of the new quarterly report ?
I only know what I'm reading in the news and statements linked here on I hub.
do you have any info or a copy of the arbitration demand filed against BFK Oct 2016 ? It sounds like odonnell could be named in that also. Do you think the company is trying to cut ties and get a new FMT ?
from what I understand, it is rare for just one person to take a hit in these situations.
Read latest. Brian Pappas lost handily. Hes toast. I bet Sec puts him in jail soon
I saw that they are not getting a fine and that pappas is indicated as having fraudulent behavior in the findings, but that does not mean that the SEC is starting an action against pappas, lawyers, maybe, but there are already suits in place.
what do you think of the new COO ?
Did you read the last news story on here?
Hummba, how do you know the SEC will be going after Brian ? I dont see any such indicator
I think he is going to get the company back
Pappas sounds like a real jack off. What's the chance he takes over?
The royalties were huge and they are getting back on track 28th sales next year. New CEO. Turn around real? Anyone?
Just caught up on some of the recent company filings ... what a mess!
How did you get this info?
This was very predictable. The red flags were all over the place.
You saw the late filing on Friday right? I don't think a 22% decline in revenues and an 89% decline in net income is going to bring in the buyers.
Although the Company has not completed its financial statements for the fiscal quarter ended June 30, 2015, the Company anticipates decreases in revenues and net income for the current quarter compared to the corresponding period of 2014. The Company currently expects that its revenues will decrease by approximately 22% and 25%, respectively, for the three and nine months ended June 30, 2015 compared to the same periods in 2014. This expected change is primarily due to a decrease in the amount of initial franchise fees, partially offset by an increase in royalty fees. The Company expects that its net income will decrease by approximately 89% and 84%, respectively, for the three and nine months ended June 30, 2015 compared to the same periods in 2014, largely as a result of decreased revenue and even or slightly decreased operating expenses. Since the financial statements for the fiscal quarter ended June 30, 2015 are not yet completed, actual results may differ materially from the Company’s current expectations.
Posted before spike
New management is coming. Michelle Cote will be the president and an interim CEO has been appointed. Also, a new CMO has been appointed. Things are definitely looking better, but time will tell.
They should bought out. Great idea, poor management
Tread carefully. The company has great potential, however, it needs to bring in new ideas for the franchise owners to deliver to their customers on a continuous basis and add to the LEGO classes they have going on. They need to become a TRUE educational program before they can grow. Can they be bought out?
I think Pappas is out. Looks like this one will be on the upswing...
They did just buy shares
I contacted the PR firm once and asked them if they planned to promote this stock in any fashion. They told me that they would not promote the stock. WOW!! they must not believe.. fire them and get someone who believes. I also stated that with as many franchises as they have, the owners should show an interest and by a few 1000 shares each..The stock would easily be over $5.00. I know this was stated earlier but very true. All they are interested in is selling franchises and wasting time with Investment companies that are probably laughing at them.Every time they go to a conference the stock goes down. What buffoons.. They have gold and don't know it. Focus on a good PR firm and take care of your other business, the stock company.
Yes, but in the last two years ...
He just bought 10,000 @ $.59/sh. $5900.00
In the last couple of years his totals sales are 463,333 shares. The price was driven up on franchise sales. He sold into that. That tells me something about what the CEO thought about the strength of those franchises.
Insider Trades of PAPPAS BRIAN Information
Click on the column header to resort ascending (?) or descending (?).
Individual Insider Trades
Company Relation Last Date ? Tran OwnerType Shares Traded Last Price Shares Held
CREATIVE LEARNING CORP Officer 07/23/2013 Disposition (Non Open Market) indirect 10,000 0.93 2,169,000
CREATIVE LEARNING CORP Officer 09/13/2013 Sell indirect 150,000 0.58 2,229,000
CREATIVE LEARNING CORP Officer 10/18/2013 Disposition (Non Open Market) indirect 33,333 1.75 2,135,667
CREATIVE LEARNING CORP Officer 11/03/2013 Disposition (Non Open Market) indirect 105,000 1.8 2,030,000
CREATIVE LEARNING CORP Officer 12/06/2013 Disposition (Non Open Market) indirect 15,000 1.82 2,015,667
CREATIVE LEARNING CORP Officer 03/18/2014 Disposition (Non Open Market) indirect 50,000 1.94 1,965,667
CREATIVE LEARNING CORP Officer 08/13/2014 Disposition (Non Open Market) indirect 50,000 2.2 1,915,667
CREATIVE LEARNING CORP Officer 09/16/2014 Disposition (Non Open Market) indirect 50,000 2.05 1,865,667
CREATIVE LEARNING CORP Officer 11/13/2014 Buy indirect 1,000 1.85 1,866,667
CREATIVE LEARNING CORP Officer 06/18/2015 Buy direct 10,000 0.59 1,875,667
Read more: http://www.nasdaq.com/quotes/insiders/pappas-brian#ixzz3dqY04NLS
Been continuing my reading on this name and the more I read, the less comfortable I am. The company business model is suspect. Simply put, they have been selling franchises and master franchises by qualifying purchasers using Seed Capital. Seed is an entity that appears to get multiple credit card approvals for financing the franchises. Stop for minute and think about that. Interest on Credit Cards is typically 22% and higher. The master franchises bring in a much higher fee, naturally. The revenue of the company spiked when they had success in selling lots of these franchises. But how strong are they when they've bought them using Seed Capital? In the CFO lawsuit, he alluded to the fact that only a small portion of the franchises actually made enough revenue in their business model to make money. Economically for CLCN, it's the ongoing royalty income that is most meaningful. But if the franchises are profitable, the royalty income is a big ?. On Edgar, when you go back and read the notes to the financials, pay particular attention to the related party transactions. In doing so, realize that you are reading restated numbers because the company didn't properly disclose these related party transactions to you the first time around. Go back and do the following;
Look at the CEO salary each year. Look at the bonus he gets for signing up franchises. It's no wonder the goal has become signing up as many as you can regardless of financial strength/ business savy.
Add to that number the related party transactions which we were lied too about.
Compare all this to the remaining funds accruing to the rest of the shareholder base.
Once you've done that ... ask yourself if this company is really managing the business for the shareholders or as a personal ATM machine. It's no wonder the stock price has imploded and I could see it falling towards the cash value/share until we have a better understanding of the sustainability of the model and the managements intents with the free cash flow.
Wow. Dark times. Is this real? Why uplist if you're just going to run the price down. Was all a front? So weird for a company with real potential, and ability to add a + to many children's lives.
Bought some cheap ugly today.
Getting ugly here. Seemed solid bit might have to cut losses soon here.
I think my intuition was right.
https://groups.google.com/forum/m/#!topic/alt.romance.chat/HP4c0Ao1CxY
Hummba,
No I haven't bought any shares. Too many concerns for me to feel comfortable in the business model and the people running it. I think this can easily trade lower.
For example Iif you dig you'll see that the past revenue growth was generated through collecting franchise fees and to a much lesser extent, recurring revenue from royalties. But the franchise fees were also generated in a less than ethical way (seed capital = advancing credit card debt). Upon Nicklenson first review only 12% of the franchises had revenue that could create profitability.
I will be watching from the sidelines at this time as I think this could get down in the $.50 range easily.
Got my avg down. Might buy a dip below 1, but I see this moving close to 1.5 real soon.
Found this on "SchoolSpring". This is a sight that informs employees of job offerings. Not sure if this is old news since I never followed this company in stocks. Either way, they are posting this around. I know for a fact every school system that uses SchoolSprings for job postings, many will see this. I will be my DD first, but so far to me they look like their advertising in the correct places!!
SEW FUN STUDIOS FRANCHISE OPPORTUNITY
Bricks 4 Kidz (learn more)
Anywhere in U.S., Florida (map)
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Job Details
Job ID: 1508532 Application Deadline: Posted until Filled
Posted: May 3, 2015 Starting Date: Immediately
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My email:
Job Description
Hello!
Have you ever thought about owning your own children's enrichment franchise?
Creative Learning Corporation (OTCBB:CLCN), the company that launched the award-winning franchise Bricks 4 Kidz® 5 ½ years ago has just rolled out their newest franchise - Sew Fun Studios®. Sewing and fashion design is HOT! HOT! HOT!
Sew Fun Studios is a home-based business dedicated to teaching the lifelong skills and methods of sewing and design to children and young people through after-school programs, in-school workshops, camps, and birthday parties!. We provide a project based program/ curriculum with step by step instruction.
There is a hole in the educational system where most schools have done away with home economics. Sew Fun Studios can fill that hole! We are also in the midst of a “Maker Movement” with the huge DYI culture right now. This franchise will surely be a hit!
If you are interested in learning more about Sew Fun Studios, please call/email me and I will be happy to set up a time to discuss the business model and your questions with you. Before we talk, check out our website http://sewfunstudios.com. Once I hear from you, I’ll send you a Power Point presentation to review. Thanks for your time and I look forward to hearing from you!
Best Regards,
Jeff Ball
Director of Franchise Development
Bricks 4 Kidz® and Sew Fun Studios
jball@bricks4kidz.com
Direct: (407) 506-6239
Position Type: Full-time
Positions Available: 1
Job Categories:
Administrator > Curriculum
Administrator > Director/Coordinator/Manager
Administrator > Vocational/Career Education
Athletics & Activities > Theater Production
Career Education > Agriculture
Career Education > Allied Health
Career Education > Automotive Mechanics
Career Education > Building Maintenance
Career Education > Carpentry
Career Education > Child Care Education
Job Requirements
Citizenship, residency or work VISA in United States required
Contact Information
Jeff Ball
701 Market St.
Statewide in US, Florida 32095
Phone: 407-506-6239
Email: click here
This company needs a new PR firm ASAP. Current one doing horrible job promoting the stock. IMO
I'm questioning whether or not shareholder (other than the insiders) will benefit. Take a look at what has been brought into the company since inception ... and what has gone out to insiders.
Not very shareholder friendly imo.
This company is solid and once they start trading on the Nasdaq it will start rolling ... IMO $1 is a steal for this stock.
29. Even beyond these basic requirements, Plaintiff found that the Board had sourced,and made available to prospective franchisees that had no liquid assets and even low net worth, a
credit card acquisition process, called Seed Capital.
30. Seed Capital is a company that through some questionable process could get prospective franchisees approved to have up to 10 credit cards awarded to them at the same time. In some cases, Seed Capital would take a large payment up front for this service from the prospective franchisee. The credit on these cards was interest free for six months, but carried very high rates thereafter.
31. Later as Plaintiff took on the role of trying to help franchisees become profitable, he found one case of a franchisee that had borrowed up to $80,000 on 10 credit cards acquired
through Seed Capital. When the interest kicked in, it crippled their business and they had to try and sell. Seed Capital also adversely affected other franchisees in this way as well. Indeed, by he time Plaintiff left the Company, the number of franchisees needing to sell or quit had increased dramatically as he had warned the Board.
32. All of these sales methods obviously had resulted in the quick growth of the number of franchises, which gave the Defendant high rankings in the fastest growing franchises in Entrepreneur Magazine.
Recall when Nickelson left the business, only a few months back and the falling revenue trend ...
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?
We only know what you can find. The stock buy back, cash on hand, growth, and uplisting are really positive.
New to this story.
Can someone please provide the Cliff Notes on the recent lawsuit filed by the former CFO. Also, on the change in reporting surrounding incorrect disclosures on related party transactions?
This is always a cause for concern. I'm considering spending some time on this name but wish to clarify the ins/out of these related party transactions ...
I'll go digging as always but if someone has a quick answer it would be appreciated.
Thanks.
Sales slowed a bit. Potential is still huge, and more master franchise will be sold this year. Will be nice to get some sub $1 soon, lower my average below $1, and wait for $2. It's on year out max
Those buying will be holding a creative bag
JMHO
QTRLY WORSE in 2014 than 2013
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=10490196
THE ARE LOSING MONEY ....gotta read the 10K with fine tooth comb, SORRY
PAGE 7 says all
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=10490196
For the
Fiscal
Quarter
Ended
Dec. 31,
2014
For the
Fiscal
Quarter
Ended
Dec. 31,
2013
Cash flows from operating activities:
Net
income $ (21,878 ) $ 296,815
http://stockcharts.com/c-sc/sc?s=CLCN&p=D&b=5&g=0&i=t12807568099&r=1429707914926
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The Company sells franchises under the trade name, BRICKS 4 KIDS(R), which offer programs designed to teach principles of engineering, architecture, and physics to children ages 3-12+ using LEGO(R) bricks. BFK provides classes and programs that are designed to compliment traditional school curriculums, trigger young children's imaginations and build self-confidence.
BFK was founded in St. Augustine, Florida in 2008 by Michelle Cote, a former teacher and mother of two elementary school students. While applying for approval for an after-school Spanish class, she noticed a category for “Creative Science” on the school’s application form.
As her own children were LEGO® fans, she inquired about the possibility of creating a class based on students using LEGO® bricks. She was approved for both Spanish and LEGO® Lab, and created and distributed promotional flyers for both classes. When she had only three students sign up for the Spanish session and 35 for the LEGO Lab, she knew she had encountered something with significant potential.
Ms. Cote began her first after school LEGO® Lab in the spring of 2008 and called it Bricks 4 Kidz®. The demand for Bricks 4 Kidz® was so great and immediate, she expanded the program to over 12 schools and now operates 20 classes a week.
Bricks 4 Kidz classes provide an extraordinary atmosphere for children, where we learn, we build, we play… with LEGO® Bricks. Programs are built around our proprietary model plans, designed by engineers and architects, with exciting themes such as space, construction, and amusement parks. Our specially designed project kits and theme-based models provide the building blocks for the Bricks 4 Kidz approach to educational play. At Bricks 4 Kidz, we believe that kids learn best through activities that engage their curiosity and creativity.
Facebook page
We offer activities for children ages 3-13+, including:
After-school enrichment classes
Our programs provide a safe, relaxed learning environment where initiative is invited and self-expression is celebrated. Model building provides opportunities for problem-solving and helps kids develop an appreciation for how things work. All this takes place while kids are having fun and socializing in a non-competitive atmosphere.
Challenge Island
The goal at SEW FUN STUDIOS is to celebrate sewing as a cool, relevant and creative activity for young people. We hope our children will discover the joy of sewing as a lifelong skill and ongoing creative expression.
Brian Pappas | President, Principal Fin. Officer |
Michelle Cote | Founder |
Dan O'Donnell | VP, Ops. |
Michelle Cote | |
Dan O'Donnell | |
Brian Pappas |
Market Value1 | $14,195,291 | a/o Feb 09, 2015 |
Shares Outstanding | 11,829,409 | a/o Dec 29, 2014 |
Float | 3,000,000 | a/o Sep 30, 2014 |
Authorized Shares | 50,000,000 | a/o Sep 30, 2014 |
Par Value | 0.0001 |
Shareholders of Record | 209 | a/o Jan 14, 2014 |
Short Interest | 1,257 (606.18%) Jan 15, 2015 |
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