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It's not undervalued, it is OVER-valued.
The Tempe store is closed and brings in jack nothing for revenues. In my opinion, and because of the nature of this National Health Emergency, it will take a couple of years of things to get back to "normal". Snakes cannot be ran at such major losses for very long, let alone 2 or more years, while the bills keep pouring in.
The current market cap is generous for a few burned toasts...
I have been in and out of AMFIL twice very profitably in the past, and would have liked to keep a long position here. However, the management of this company has been quite disapointing in relation to both audit fiasco and comunication with shareholders. This has resulted in a MAJOR loss of market cap, and very major losses for shareholders.
I now have the right, as a previous shareholder and poster on IHUB, to express my opinion about this public company, and will continue to do so in a respectful manner.
Bid is at .0086, down another 12% folks, and cruising toward triple zeros at breakneck speed. FUNN is toast, burned toast. It's crispy, a dark shade of burned, and definetly not for human consuption anymore.
And it could have been so much more FUNN if they had released their audited statements A LOT SOONER than they did, but it's game over now...
Not sure what is going on here, but If they wait much longer, the pps will be double zeros...
That's called owning an ever increasing share of a shrinking piece of cheese. Soon,it will be 100% of ...nothing.
Has anyone checked the market value of Amfil recently? Just about the same as a couple nice Marin County homes. Boy am I glad I sold all of it at .073 not so long ago!
The market knows, and the market spoke: FUNN is down about 82% since the virus scare started. Great companies do not drop like that for no reason. Even if some do, they are the first ones to rebound and do so in a big way. FUNN is not rebounding, it is sinking, period.
What is unfortunately happening to FUNN is akin to a 100 yard dash with a brick wall half way down the strech. Has anyone calculated how much money they are losing on a DAILY basis? Has anyone contacted that attorney to ask him if his team has bailed out of buiding 10 new cafes?
After we all know some friend or relative that has died because of this virus, after every mommies and daddies have been scared to let their kids go anywhere for a good long while, after all the college folks carefully return to school, do you really think that anyone is going to rush to Snakes to exchange germs playing board games??
Well I don't think so, but I do feel bad for the shareholders who bought my shares...
Absolute bullshit! There is no way to know if and when they will reopen. This is wishfull thinking at best. They financially cannot handle the decisive and definitive hit they are going to take.
Folks WILL NOT RETURN TO SNAKES FOR MONTHS AND MONTHS, and they will bleed to death at breakneck speed. They will absolutely have to dilute by selling shares and the downward spiral will accelerate exponentially.
Game is OVER. No thrive and scale possible anymore. They will have to file for bankrupcy soon. Watch out, you've been warned.
I believe that most folks have no idea of the kind of losses Snakes in experiencing on a DAILY basis. The bailout? That would be a large LOAN that most small restaurant chains and independant single unit operators would not be able to repay because they will be broke before that money could make a difference. It is my opinion that restaurants will soon have to close entirely, take out included, and that this issue will last for months or longer. Only the strongest balance sheets have a chance of survival.
In my opinion, Snakes is not in a financial position to sustain major losses, and they most likely will fold and/or sell off assets at auction.
And of course, we all know the end of that story. The richest of them will pick up the pieces for a few pennies on the dollar and rebuilt the restaurant industry from scratch with cheeply acquired assets.
Hum, why does this ring a bell?
Ok so, 35 years experience here in the restaurant business, and retired from it now. I can assure you that, baring a winning lottery ticket, Snakes is toast. There is no way in heck that they will be opening a single new location anytime soon, period. Now add that to the fact that their existing locations are empty and closed, while the expenses keeps coming due, and you got yourself a "perfect storm".
Visualize this: Sales dropping by...100%, a little less if they are currently doing take out, and rent due in 11 days. Do you really think that the relationship with that lawyer is going to pan out? 10 new locations?
And who is the idiot who would finance any new opening in the current state of the world?
It is game over, and it is sad because I really liked their concept, but money (or lack there of) talks...
AMFIL is TOAST, and the pps is confirming it.
Ok so, 35 years experience here in the restaurant business, and retired from it now. I can assure you that, baring a winning lottery ticket, Snakes is toast. There is no way in heck that they will be opening a single new location anytime soon, period. Now add that to the fact that their existing locations are empty and closed, while the expenses keeps coming due, and you got yourself a "perfect storm".
Visualize this: Sales dropping by...100%, a little less if they are currently doing take out, and rent due in 12 days. Do you really think that the relationship with that lawyer is going to pan out? 10 new locations?
And who is the idiot who would finance any new opening in the current state of the world?
It is game over, and it is sad because I really liked their concept, but money (or lack there of) talks...
You are on the wrong board dude!
Drop the roach and take a nap.
And you think that I am going to provide valuable due diligence to a poster whose first 2 posts were absolute BS???
Post #1:
Walk18 Tuesday, 02/04/20 01:36:30 PM
Re: None
Post # of 6272
BUY IT NOW BEFORE 2:15 TODAY. ANOTHER BIG BUY IS COMING LIKE WE SAW FRIDAY! AFTER THE 6TH PRICE WILL HIT .34 AND 13TH WE WILL BE ABOVE .60
Post #2:
Walk18 Thursday, 02/06/20 05:18:23 PM
Re: pokerpunk post# 6249
Post # of 6272
Keep selling your shit for less than .16 and we're gonna keep buying it. My buyer is gonna get his million shares ether way.
Maybe a little homework would do wonders.
Too easy to speak negatively about a company on a platform like this. If you have something this serious to say, PROVE IT, and the folks on this board will be infinitly thankfull.
Actually it was in reply to this:
Walk18 Tuesday, 02/04/20 01:36:30 PM
Re: None
Post # of 6258
BUY IT NOW BEFORE 2:15 TODAY. ANOTHER BIG BUY IS COMING LIKE WE SAW FRIDAY! AFTER THE 6TH PRICE WILL HIT .34 AND 13TH WE WILL BE ABOVE .60
And this:
Walk18 Thursday, 02/06/20 05:18:23 PM
Re: pokerpunk post# 6249
Post # of 6258
Keep selling your shit for less than .16 and we're gonna keep buying it. My buyer is gonna get his million shares ether way.
First 2 posts for this new poster...
My buyer is about to dump 10 Million shares under .16. I think that will more than compensate for your buy...Better sell your stack because the pps will dive to .05 by Friday February 21.
Glad I could be of service
Nice $30 paint job to finish the day. Smells like a downer first thing on Monday...
This reeks of bullshit.
Nobody, I mean nobody can predict the pps of a stock like this.
I call bullshit
I couldn't agree more. I think you might be making my point that sometimes, regardless of how well a company's revenues are growing, the stock price will just keep dropping. The way I see it, there is that little something that will add Millions or Billions to a company's market capitalization, and that is Good Will. FUNN pps will continue to drop until Roger makes good on his word. They said that they have inked a deal to build 10 cafes this year, then I expect, as a shareholder, to have 10 more cafes in various build out in the books by the end of the year. Is that too much asking? I'm putting my money where my mouth is and I expect the company to perform.
Roger is the CEO and if he doesn't want shareholders to further dump his company stock, he'd better stop the bullshit and start making us money.
Am I being unreasonable?
The folks who bought at .10 and above did not think that an $11 M company would drop under .07.
And where are we now?
Laughing won't do it. Clear communication and absolute execution will. Otherwise down to a penny we will go, imho.
If we do not see any serious action soon in the build up of these 10 new cafes, and if Roger shot his mouth again and does not come up with the goods in 2020, the pps will drift under a penny by mid Summer.
Got back in at .036 and I expect some serious improvement in both communication and execution from now on. Time to put up or shut up.
I stand corrected, for now. Definetly a nice bounce, but why? Without any clear reasons, CNAB will slowly go back down to the low teens.
Congrats to those who made/will make a profitable trade.
Not going to happen. Going back under a dime soon.
Nothing happening here...
So instead of getting back in for half the cost I sold for in early December, I think I'll wait for the 2's. Changed my mind yesterday after we touched .031. There clearly isn't a bottom yet...
Sold my 140,000 shares at .073 average early December (for a decent return) and I am glad I did. I figured that the slightest hick up at FUNN would give me the opportunity to buy back in for half price.
Looks like it might happen next week...
Nope, no January bounce. This is heading below a dime...
CNAB pps has lost more than $.153 in the past month alone. At this pace, it will be worth .0001 by early January...
Under a dime? You bet!
Yep, coming right back down in a hurry...
So predictable...
It will pass the House, but it will die in the Senate. Not a chance that it will pass anytime soon, unfortunately, too many republicans agains legalization...
CNAB will test the previous lows very soon again..
It is a great board. Some of us may disagree on certain things, but the conversations are very educational. Welcome!
Painting also can go both ways, such as the action this morning. one can buy $65 worth of stock on the ASK to make it look like the price is going up...
Somebody's painting with $120 and $63 worth of stock trying to keep the pps on the ask...
That's kind of sad to see, and doesn't augur well.
Looks like some folks are averaging down big time.
That may prove to be a really bad mistake.
It already is dying a slow death, except it is not that slow...
Down more than 50% this past month alone!
And it is far from over.
Is it me or FY 2019 doesn't show any revenue increase from FY '18?
Sounds about right.
Glad I sold half 2 weeks ago and the rest early this morning.
No bottom yet my friend. This 10Q sucks and their losses are getting larger and larger while the sales growth has slowed down. Dumping time...
Nothing good about this 10Q. I'm out of this piece of shit stock...
So much money to count, it takes a lot of time to count to $25 or $30 Millions...
This won't stay much longer at this level. Severely underpriced...