“Coinciding with the closing of the rights offering, Philip Gay, former CFO of California Pizza Kitchen and former CFO and CEO of Wolfgang Puck Food Company, will assume the position of CEO”

“Discussions have also taken place with interested parties for franchising in both domestic and international markets. The Company expects to announce specific franchising deals after the offering closes.”

Joey AND Phillip both need to go.

Shultz begged to be voted onto the advisory board but there won’t be an opening on that until after the shareholders vote to increase the number of available advisory board positions. And the vote for that won’t be til after the co ceos decide if / when they can get their schedules to align because Phillip is so busy (they just realized) there would be a conflict of scheduling any meeting within the next year.

Parsi, you are not smart enough to open your mouth tomorrow. Please let Phillip answer any questions if there are any.

Joey may clarify tomorrow that he “has participated in the offering” by selling some of his shares to investors at $0.03.

Did you guys think I meant that I bought more shares?

Interesting new investor presentation compiled post offering as they are revamping the new website with plans / ideas


https://www.dropbox.com/sh/50sff9y9e9p3cmd/AABPf_V92nqXj7kKqTBo5eiHa?dl=0&preview=GIGL_Investor+Deck_May+2018+final.pptx

Those shares were converted / sold already at a conversion price below $0.01 in Jan 2017. They likely sold some / whatever was remaining on the run shortly thereafter

Everyone always thinks that until their is a 100-200% day and then everyone thinks it’s going to the moon.

If you’re going to flip 100k blocks for a $0.001 spread differential would you be so kind as to hit the ask at the end of the day?

Or don’t just bid sit and ask block til we’re in the trips.

Fudging all the numbers takes time

Maybe he is still trying to figure out how to lower his “base salary” but make up for it by funneling the “$GIGL private party” and “$GIGL catering” revenues into his other accounts?

I didn’t not think it’d be hard to pierce the corporate veil with $GIGL. Will find out soon if he has crossed every T.

Took a starter at $0.015 last year and added at $0.03 and watched it go to the moon and back. Made the mistake of getting the wife involved in the decision making process. Initially had “planned” to remove my initial investment at $0.08 by selling 25% of my position. But very shortly it was at $0.12 and $0.18 and I thought “where’s this gonna stop?!” On the drop from $0.26 -> $0.15 I bought another $8k worth and that’s where I lost most of my investment. My current avg is $0.025 for 560,000 shares.
At this point I’d be “happy” if we see $0.05s at any point this year. Can’t trust Parsi anymore.

I’m also cool with him going to jail and if / when he does I will chalk it up to a great learning experience.

Same here. Wife who is 7 months pregnant with a daughter and not going to be working for the next few years at least. Live in NYC on one income. I invested over $20k in this between two accounts and already have a realized loss of $7k. One account currently has an unrealized loss of $5k. Would be nice if Gay actually did something for $GIGL something along the lines of what his resume says he does day in and day out?!?!

In retrospect I should’ve sold half at least but I actually thought I’d even half of what they said they were gonna do came through this would be like getting in at the beginning of the beginning.

Quote: “I had been trading the large spread”

That’ll kill a stock with low volume. Thanks for your honesty.

Getting their attention one way or another her

Perfect. Agreed on all points.

Gloves are off. Today’s PR by Parsi admitting Phillip isn’t the CEO at all did it for me. He should be in jail.

https://instagram.com/p/Bi75kijhYQx/

No sellers. Couple ask wacks.

Although I don’t think you should send this at this current time, your presentation is missing in my opinion this power point presentation. Here is a slide from it:

$gigl What’s up with this projection? We’re halfway through 2018 so far no new stores?! https://t.co/2cY85emT9r pic.twitter.com/ALmSA09xSb

— VSAStory (@dropbaserally) May 24, 2018

Joey probably realized that no one would give HIM alone traditional financing. He may have wanted to execute the rights offering at the same time or at least closer to when Jillian signed on. His lack of expertise and poise is what blew this up. Imagine WAITING to announce Jillian’s signing until just before the rights offering. They could’ve raised $5-$10 mill easily without blowing up the share structure. He is still looking to align with others to lure investment

My opinion is...Gay doesn’t want to be CEO. He agreed to do it part time. Maybe Joey thinks co-CEO is something to fill in the gap between between days. I don’t think it possible for him to comprehend that his association with any PR or management is such a turn off that no one will buy til he’s gone. Wood has been cried too many times here. Only fresh blood will move this.

As far as other people are concerned I highly doubt anyone who still holding a position is trying to warn others not to buy their shares. I’m starting to be skeptical of all the altruism here. Let’s have more people post warnings to others not to buy our shares? That rhetoric is part of why the offering failed. If the price could’ve hovered above $0.03 there would’ve been greater participation...and greater opportunities for expansion now. Versus having to todo a follow on offering. Ugh

You’re joking right?

Don’t be surprised if this were to go sub penny Joey might use some of the rights offering money for a share buy back. It would actually be very smart to do so in my opinion but only if shares were bought back at sub penny levels...the share price could sky rocket based on a reduced share structure

I haven’t seen any of their frozen foods in the grocery store yet that Joey was talking about doing....

Any day now...c’mon Phill!!!

Joey sold shares last summer knowing that St. George was going to sell their shares. Somebody from St. George probably told him we’re going to short your stock and tank it.

Interesting listen from “How I Built This” podcast. Nolan Bushnell the founder of Atari and Chuck E. Cheese

This guy was a visionary and has an MBA in engineering.

Funny Joey thinks he’s better than this

https://itunes.apple.com/us/podcast/how-i-built-this-with-guy-raz/id1150510297?mt=2&i=1000407473138

It’s more likely he is a long who invested before completing extensive DD but I’d be happy and anyone with my avg would be happy if this gets back to the $0.05-$0.10 range

I vote to give it another year or two to see what Phillip can do.

I have 560k shares and a baby girl due August 13th. I prefer to wait maybe my shares can be sold in a few years and go into her piggy bank.

But you guys do whatever you want I just think tanking our investment is a ridiculous idea and not very altruistic.

Destroying current shareholder value to save potential shareholders from danger? I don’t know about that.

It is difficult to value an “expanding” restaurant or “chain”. But GIGL isn’t as hard to value because they aren’t “expanding” and the chain currently has only two links. That being said, the cost to build out 2 locations alone is equal to GIGL’s current market capitalization. With no current debt but also without consistent positive cash flow who will give them money for expansion? Phillip needs to figure out a way to jump start this dead battery. They could get money from the warrants and that could go to two new locations for even better scalability / margins.

Nothing to save after a 300k salary.

I’m not sure I believe his claims about their margins. He needs to show multiple quarters of increasing cash flow now that his “base salary” is lowered.

Great post.

Um...75 min into today’s trading after yesterday’s presentation and there aren’t any buyers?

The used car salesmen needs to stop doing all the talking.

“This cars awesome! You’re going to love it! The dash lights will never come on because I had a guy I know do a trick and take out the light bulbs. Isn’t that great!? Imagine yourself cruising down the highway and never having to worry about a check engine light coming on ever again!”

https://goo.gl/images/YnxMnW

All I want to know is when will there be a Giggles ‘n Hugs in the greater NYC area? Can’t tell me some investors at today’s event aren’t wondering or interested in a location on the east coast. NYC (or greater area) is perfect. If everything goes well I’ll have a newborn daughter towards the end August and if Phillip can get a location built here I’d love to take her there. Expansion shouldn’t be this difficult. It’s a head scratcher

“My children would love this” is what I hear from everyone I talk to. Execution is lacking but I’m prepared to hold for another year or more.

She doesn’t want to direct people directly from her website to invest without real expansion potential. How many people bought or held because her name got involved. I don’t think she has officially “left” but would you plaster GIGL tags on your professional marketing site at this time?

My vote is she is still here.

Thanks for sharing! Interesting read.

Hoping for a Pepsi Co type catalyst here.

Maybe the balance sheet having been cleaned up could help in this regard?

Maybe Phillip has something? Even a little something to work with here?

How much was Joeys pay cut?

Shorts fail has been with us here for a VERY long time and he has not always been bashing...
Also he is not really BASHING per se.

You should read some of the scathing emails current board members have sent to Parsi along with some from people who don’t post here anymore but still hold a position.