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Thanks for both the great replies!
Your facts are indisputable and you made it so clear!
Underground Expansion is same price as original game- love it! Thanks for reply.
Would hope update on games produced and distributed-
Cheers!
KTU -The Underground Awakens- game add-on?
It’s new and rated well- from Morning
https://www.boardgamegeek.com/geeksearch.php?action=search&objecttype=boardgame&q=Kill%20the%20unicorns
FUNN now has a warehouse in USA for fulfillment and logistics! Starlet Sitadel has existing warehouses in Canada and USA
Our fulfillment fees are extremely reasonable and we provide the option of storage in both the USA and Canada with easy transfer of goods between the warehouses. Customers will be able to fulfill orders from either warehouse to both retail and commercial customers. in USA
We are now in USA!
Have had several communications with Roger ( and he directly with my son also an investor ) over time. Am just as impressed with him as the company he is building.
Well put.. well said.... LOL
why would sign go up with 19 audit? I can see it with restatement of ‘18.
We will find out of course, but we will also get our required letter.
Game geek KTU rating 5,606! If I’m reading it correct.
Yield sign back up if 18 is restated with our supplier letter...
And much different - bigger- numbers..
Hope to see all our restaurant location displaying and stocking some Pigcorns soon- it’s an independent toy in and of itself.
Is there talk of Walmart stocking these Pigcorns?
They will be bought even without knowledge of our games! IMO
IF we got letter from supplier classifying FUNN as agent, confirming we are able to negotiate prices, then 18 audit is being resubmitted with accurate numbers. IMO.
A very very good thing! FUNN for the win!
We will get updated financials- too much revenue to restate.
Will we get IR firm in recent future? Huge step in market awAreness-Rocket has expounded on benefits and now all concerns should be gone with current. Here’s hoping! FUNN!
Yes the #1 and #2 top sales products for FUNN unable to count as revenue without letter confirming the relationship with manufacturer. GreatGreenRush breakdown at top of board was excellent, and detailed breakdown.
We will get more updates this week. Confirmation letter from manufacturer allowing restate 18 and 19 earnings per new accounting rules would be a jump start among many, many other things.
PINK CURRENT
Great job FUNN!
Critical point is we have the location- focal point for our formula of success!
We will get it built! FUNN!
We ask and the hostess took couple of pics of us in front of the lit Snakes and Latties sign- still makes me smile!
Uh Kissing...
As he should get shares-John and Manager Susan are doing a fantastic job on all fronts at that location.
Went there on Nov birthday trip and had excellent and very enjoyable time. Went in completely neutral and wow it was better than I could hope for- really FUNN. One thing I haven’t mentioned, we left at 9:15 with a full restaurant and walked the area which has many other clubs and eatery’s. That night was very empty at the other bars etc. we walked a long while and the pop was at Snakes. Very great night and happy to be a share holder in this growith company.
Great news! Thanks Plow for emphasising the Walmart deal. Yield sign vanishing and forward news on company growth- best November- I did go to Tempe in November, so i helped....
In observance of that FUNN schedule, we are in complete agreement. The characterization of financials that don’t allow expansion is so invalid. Just my 2 cents. Strongly agree with you!
I don’t see FUNN spending a dime on audits that prohibit franchising in any manner.
Too long, expensive and important not to open this gate. They comply, they conform and will achieve results
GAAP is required for franchising. So Three years I’d audits up to date- let’s franchise after 2019!
Franchise Disclosure Documents | Item 21: Financial Statements
February 1, 2012 / Business
Table of Contents
Item 21: Financial Statements
GAAP Requirement
Parent Financial Information
Affiliate Financial Information
Subfranchisor Financial Information
Phase-In of Audited Financial Statements
Learn about related topics
Item 21: Financial Statements
Consistent with the UFOC Guidelines, the amended Rule requires franchisors to include in Item 21 copies of their financial statements audited in accordance with generally accepted accounting principals (“GAAP”) for the most recent three fiscal years to show the financial condition of the franchisor. The financial statements of franchisors that own a direct or beneficial controlling financial interest in one or more subsidiaries must also reflect the financial condition of the subsidiaries. Financial disclosures must be in tabular format that compares at least two fiscal years. This provides prospective franchisees with information with which to assess financial trends in a franchise system.
GAAP Requirement
The amended Rule requires franchisors to prepare financial statements according to “United States generally accepted accounting principles, as revised by any future government mandated accounting principles, or as permitted by the Securities and Exchange Commission.” The amended Rule updates the UFOC Guidelines by recognizing that what currently complies with “GAAP” may change as a result of federal government oversight of the accounting profession. Accordingly, it provides that franchisors must use GAAP, as revised by any future government mandated accounting principles.
At the same time, the amended Rule provides flexibility by permitting franchisors to comply with the Rule’s audited financial statement requirement by looking to principles articulated by the Securities Exchange Commission (“SEC”). This is most important for foreign franchisors wishing to sell outlets to be located in the United States. The amended Rule permits foreign franchisors to use United States GAAP or to reconcile their financial statements to United States GAAP, consistent with SEC law.
The SEC currently permits foreign companies registering securities to prepare financial statements using accounting procedures other than United States GAAP if such statements are prepared “according to a comprehensive body of accounting principles.” The company must also disclose the specific comprehensive body of accounting principles used to prepare the statements and explain material differences between the principles and United States GAAP. The company must also reconcile its statements with United States GAAP. For example, through additional notes, foreign franchisors must reconcile figures for net income and total shareholders’ equity for the period presented. Finally, the statements must provide all additional disclosures required by United States GAAP and applicable SEC regulations. Any foreign franchisor may take advantage of the SEC’s standard, whether or not the franchisor registers or intends to register securities. Of course, this approach may change in the future, especially if the SEC and the European Union, as planned, harmonize their accounting standards.
This flexibility, however, pertains solely to the preparation of financial statements. Even if a foreign company reconciles its financial statements to United States GAAP, it must audit the financials according to United States Generally Accepted Auditing Standards (“United States GAAS”), and the auditor must comply with the United States standards for auditor independence.
FUNN financials are prepaired and conform with GAAP standards as required for franchising.
Financial Statements
A. The following financial statements were prepared in accordance with:
U.S. GAAP IFRS
https://backend.otcmarkets.com/otcapi/company/financial-report/236603/content
In this case - follow auditor advice- get a stop sign. Change policy against auditor advice to publish regardless of audit - bold decision and correct to stay current. Agree that stop sign bad and now history.
Yes Kudos to Roger and Ben for changing the decision to withhold financials until audited version released. Personally I can see why they chose this course of action on the voluntary company audits- as the hired auditors didn’t want to explain any discrepancies in either version. However as you know this result was a stop sign for a substantial period as audit dragged on.
Today’s reversal to report regardless of audit will provide a consisitant history that will aid in PPS growth by following OTC reporting.
Yes Kudos!
Kudos to Roger and Ben - doing what ever is needed to drop the stop and yield sign for FUNN.
Progress made! Yield gone and news this week.
Agreed, KTU is being manufactured by a quality company in its industry. Remember, our Unicorn game piece now has ridges on the horn and is detailed to our requirements. Quality is what you pay for- we have level we need for our market. The artwork is also outstanding. KTU was approved and released when It met our standards.
Yet Walmart has kept their order And will receive it soon..
We have the resources and talent required for every step of game development- creation to distribution, with big box store relationships that return our calls.
I really hope to hear of an IR firm partnership which you have been a strong advocate. Can’t wait to hear- ‘Trust me- I’m your sales guy’!
Yes good debt- for building/expanding. Growth requires it. It’s in the financials.
Great planning- We have the location location location. Yes I to wish it was serving today, but it will and we have...the location.
Roger seems Very fiscally responsible- maybe to a fault. He seems shrewd in business-;ie finding Morning, long term planning and has put a vertically integrated, INDUSTRY RECOGNISED company with a fantastic product.
Now he has developed (more to come) this structure, he is releasing a pure play company with awesome growth potential. FUNN!
Higher PPS will allow management to persue growth at faster pace- as we know.
Patience will pay. FUNN Long!
Also wonder if some Funn funds earmarked for building were repurposed to KTU game production. Faster revenure and all that. That would be a good thing IMO. They cafe’s are so great and we will have many.
It’s the official step from stop to current while under review. Yield goes down next week and and we get information - the first of many! The what-if BS concerns for our company gotta make ya smile. NOT
Yield sign down next week. Financials provided Within allowed time.
OTC has not even updated financials on page yet. Yield sign as temporary step to current as information reviewed.
OTC financials for FUNN not available annual or quarterly - IMO being updated!!
Roger and Ben getting it Done!
PrePare to Endeavor to Persevere. Stop-Drop, and ROLL!
We are back on track again.
GIMME DAT 19 audit!
Funn is clearing the way in a new direction- to be back on track! No late on reports. Stop sign is badda.
New leaf in growth.
IR Firm
News Flow Developments
BUY KTU IN USA
BUY PIGCORN IN USA
#FUNN
BEST OF FINANCIAL ANALYSIS- Please sticky Mods
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=152373230
Awesome post GreatGreenRush - if/when documents accepted from supplier, can ‘18 be adjusted?
Really enjoyed your insights on eve of audit release.... you know stuff! Seriously, thank you!
When you got a vision but don’t know best way to get there- bring in an expert. Someone with experience.
If Ben was not happy he could find many other employment opportunities. This is I expect Ben getting an opportunity to choose and select his focus with Snakes.
Still here, LOVE THE PRODUCT THAT IS SNAKES AND LATTIES!
#FUNN FOR EVERYONE