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I agree with much of what you say, but my gut tells me Rogen hasn't done much. I hope I'm wrong... but he didn't email me back early on in the process when I told him I was willing to assist in one of the biggest markets the company has discussed to date. Also his business partner didnt respond to a message I sent. Needless to say this doesnt build confidence. Again, hope I'm wrong... just my two cents.
Unfortunately it seems this company is absolutely clueless re the running of a public company. No protection of shareholders whatsoever...
Still here...
Great! A long awaited updated finally. It seems AMFIL will get through this time, which I was concerned about. Hopefully locations open soon and begin to thrive again. Still eant to hear about progress on the 10 new locations, but the update was very good news overall. At least decent games sales in Europe also a nice surprise. Onward and upward.
"But, I don't think the Dodger knows how to git'er done."
The amount of posts on this board doesnt seem to jive with this statement.
Totally agree Tomas. If this ocurrs then its some of the best news Ive heard in awhile. Sounds like management recognizes they have completely neglected shareholders and all this stuff would go a long way in correcting that. Good news indeed.
I'll take the non-answer, as well as the silence from the company, to mean nothing much is happening behind the scenes. It's too bad because this company used to have a ton of potential.
Hey Nanook... any updates you can share here?
I agree. Roger's lack of follow through and non-communication has been atrocious, and why I believe we need a new CEO with experience in the equity markets. I think any fair minded person would give Roger and his team credit for acquiring snakes and building AMFIL, while also acknowledging that his silence and refusal to protect shareholders over the last 1-2 years is completely unacceptable.
Everything said here makes sense. It sounds like Roger already has one foot out the door as CEO, at least mentally. There really is no other good explanation why he has been shirking his CEO duties (not communicating and promoting the stock). They better get a new one quickly though as Roger's neglect is killing PPS. A new, experienced CEO could get them organized, promote the stock, get the audits back on track, and efficiently navigate the equity markets. This would likely ignite the company which could fuel more growth. It really could have a massive snowball effect. However the reverse is also true. We need a CEO who understands this.
Roger deserves some credit for putting all the subs together, but the company has grown to a point where I believe he is in over his head. He just doesnt have the experience. I think he knows this and has sort of checked out. That said, we need a new CEO ASAP to right the ship. Currently we appear to be drifting aimlessly, which cant go on much longer without serious risk of sinking. I think we all need to demand the company be more transparent so we can get an honest assessment of where we are in the search for a new CEO and everything else they have remained silent on.
How can you feel good knowing the company/CEO will stay on the path and keep making good?
Trust me I want to feel good too; Ive been here over 3 years. That said, it seems at some point the CEO gave up managing the public aspect of the business. That makes me feel terrible, not good. CEO does almost nothing to promote the stock or protect shareholders. Audit talk has gone away. Asked and answered mysteriously disappeared. Nothing on Grozone. Wal-Mart unfulfilled without explanation. The beverage business vanished. Years to open one cafe. No word on expansion and no real updates during a once in a lifetime pandemic which has shut down operations. And a pps that has free falled the last few years.
I would say the above is atrocious, not good. I think we're all here because we believe Snakes is a good concept; however, not properly running the public aspect of this company has killed us. I think its time we admit that. CEO deserves credit for getting the company this far, but its time for a new one imo. New blood. New leadership. New energy. Need consistent communication, otherwise the future looks bleak, not good.
Its so frustrating. He should be keeping shareholders updated on all fronts but chooses not to. No idea why .. but bc of it we need a new CEO imo.
He just doesnt get it. Good concept, need a new CEO imo...
Yea, didn't they hire a PR company a few months back? What on earth have they been doing, besides nothing?
It doesnt sound like they have any idea of what their responsibilities are running a public company.
Emailed them
So tired of it. What are they doing exactly? Do they not have anything to say about their OWN company. The CEO doesnt seem to understand the responsibilities associated with running a public company.
That makes little sense... just sayin
FUNNs management is certainly not perfect, why would one own 1.2 million shares of a stock if one believed the CEO is a liar and a crook?
Does anyone else find it extremely odd that not even one picture of the CEO can be found online? In this day and age... a CEO. Not sure what to make of that.
Management can't lack transparency and expect big shareholders to stick around. Sad what this has become.
I hope you're right, but definitely behind the 8 ball now. Roger's lack of protection of shareholders coupled with closed cafes. A tough one two punch to withstand.
I agree totally. Thank you for emailing Roger. Ive also emailed him in the past and received no response. His apparent lack of understanding on how to properly run a public company is troubling to say the least. I truly thought FUNN was different. I knew management was young and inexperienced, however, I truly believed they would perform very basic duties such as promotion of the stock and consistent communication with shareholders. IMO, if this company fails it will be because they do not know how to run a public company, which is sad bc I really believe they have a good concept...
Again, I urge all legitimate investors here to email Roger and the company and demand promotion of the stock and consistent communication with shareholders. They're playing with fire with a PPS this low...
If management knew how to navigate the equity markets this would already be at a dime imo. That's what is so frustrating here.
They have a good concept and have done some good things getting 4 locations open, however, by their lack of experience running a public company, they've now put the whole company at risk. They sat and watched as pps plummeted over the past few years and they do almost nothing about it. They dont even try to tell their story, they dont even try to consistently communicate with shareholders in any real way. In short, they don't even try to protect shareholders, and I and every other investor should be pissed.
They cant raise reasonable amounts of money with a pps which is in the toilet. They cant expand using shares with pps is in the toilet. Now they have no choice but to dilute shareholders... its just that simple. Its clear they have no idea what theyre doing in this regard. Again, I urge all investors to contact the company and demand they protect shareholders by promoting the stock and consistently communicating with shareholders. Otherwise we're all toast imo, which would be so sad since I believe their concept is a good one.
Substantially, yes. One of the main ways companies raise money is through equity capital shares for money). This can only be done efficiently if the company has a fairly valued shareprice. And how does a company maintain a fairly valued shareprice? By promoting the company and communicating with shareholders!
That the company doesnt do these things puts them in a risky situation. Its like they're intentionally cutting off their right arm. Though in FUNNs case I dont think its intentional, I just dont think they know enough to recognize what they're doing. My opinion of course, but regardless having pps in the toilet hurts everyone and endangers the company's very existence. If they go out of business, we all lose.
Agreed. Great concept, poor execution. They simply dont know what they're doing with regards to running the public aspect of the company. Its so frustrating to watch.
Ive stated this ad nauseum on this board and emailed the company...but nothing changes. Not sure why the more sophisticated longs on this board aren't demanding more from FUNN in this respect, but maybe they're all gone.
I strongly urge all longs to contact the company and demand they promote the stock and consistently communicate with shareholders. Otherwise we're all going to lose big time... which would be so sad bc i really believe they have a good concept. That said, a good concept isnt enough when running a public company. You need to know how to actually run that public company, which unfortunately it doesnt appear they know how to do
Yes we're in the same boat. We've been more than patient, but its clear now they're in over their heads running the public aspect of the company. They simply dont know how to navigate the equity markets.... period!
Ive stated this ad nauseum on this board and emailed the company...but nothing changes. Not sure why the more sophisticated people on this board aren't demanding more, but maybe their all long gone. In any event, im debating cashing out all my shares as well (for a loss).
In the meantime, I strongly urge all longs to contact the company and demand they promote the stock and consistently communicate with shareholders. Otherwise we're all going to lose big time... which would be so sad bc i really believe they have a good concept. That said, a good concept isnt enough when running a public company. You need to know how to actually run that public company, which unfortunately it doesnt appear they know how to do.
Sad to see... but again, anything that has to do with the running of the public aspect of the company is poorly executed.
I dont think longs (which I am one) should make excuses for the company any longer. They simply dont seem to understand how to navigate the markets. They dont promote the stock and they dont properly and consistently communicate with shareholders... period. This must change or they will have to keep diluting into oblivion. Then, before you know it, they're bloated and bankrupt. This is the risk and few of us seem to want to discuss it.
For example, why no promotion of the stock? So easy to do. Why has asked and answered stopped AGAIN? Totally unacceptable imo... and here we sit, pps in the toilet and dilution increasing. Not a good place to be...
This is precisely why FUNN is so risky right now. The company seems absolutely clueless when it comes to navigating the equity markets. They dont promote the stock, protect shareholders, or effectively communicate with shareholders or the market generally. As a result, pps is in the toilet, so they can't use it to effectively do anything. If the company fails it will be bc of this imo, which im pissed about bc I believe their concept us a good. That said, if you dont know how to run a public company, you have absolutely no business doing so.
Ive posted the above sentiments numerous times here and emailed the company directly. I urge all longs to do the same. Otherwise we'll all lose all our money...
Why on earth does the company not consistently update shareholders on what's going on with the company? This is running a public company 101. All I can deduce is there is little good news ro share...
Let's be honest about FUNN, none of us know if they will be able to survive this ir not. On the positive side, they have a good concept that under the right conditions could flourish. Also, any small competitors may not survive this time period so minimal competition. On the negative side, they keep diluting, management doesnt seem to know what its doing running the public aspect of the company, their communicaton is atrocious, 3 cafes are closed, KTU appears to have been a bust, the company moves slow on almost everything, revenues are decreasing, and Covid is killing restaurants of all types.
So, imo unfortunately the negatives far outweigh the positives. I hope the company thrives but doesnt look good right now. I hope im wrong. I've been a large shareholder for over 3 years, but over the last year my confidence in management has plummeted.
Are longs happy with this quarter? Revenue way down despite board game sales added in. I think we all know something isnt right here. KTC unfortunately wasnt the big hit we had hoped. Grozone not doing anything, cafes closed, OS increasing, and management doesnt protect shareholders or seem to have any urgency for anything. Ive been here over 3 years and unfortuantely believe this great opportunity is going to be squandered.
I think it could be bc although the company has a good concept, their running of the public aspect of the company has been terrible. They are atrocious at communication and promotion of the stock. Thus, they dont protect shareholders. Many longs know this and will buy when it gets real cheap, but then flip since holding is too risky given management's neglect of very important aspects of the company. In the end, imo they run the company as if it were a private company... and the stock price reflects that.
Are they selling? I hope but no updates from the company is not a good sign. Their self published games are not for sale at Wal-Mart and there has been no full explanation from the company. Again, not good. I hope good things are happening behind the scenes, but if history is any guide, no news is bad news...
Management of this company is so frustrating. They seem to be running the company OK, but completely neglecting their duty to promote the stock, communicate to the markets, and protect shareholders. It makes absolutely no sense... They don't understand how to run a PUBLIC company imo. It would be terrible if the company failed because of this lack of understanding, but its a real possibility. Every long should ne telling them this. They need to hire people with knowledge in this area ASAP....
Unfortunately the slide began way before Corona. Obviously that hasn't helped, but the CEOs consistent lack of communication over the past couple of years is the real problem. I dont think they know what they are doing in that regard.
I listed a number of things the company should be communicating to shareholders about... for some reason they refuse to do so, and have for awhile now. They have not promoted the stock or protected shareholders. Alas, the stock is under a penny... sad.
This stock has so little interest, I'll answer my own question... NO!
What to talk about?
How about continuing asked and answered (this abruptly stopped without any explanation)? How about keeping shareholders updated on how snakes is going to stay afloat during the shutdown? How about keeping us updated on game sales? How about explaining why Wal-Mart was never fulfilled? How about status of expansion team, at least up until carona shutdown?
I could go on and on... Management has a duty to communicate with shareholders, whether its from home or the office. Defending lack of communication hurts everybody imo.