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Yep...I think January is a real possibility. Keep in mind that the franchise offerings are UNIFORM. Potential franchisees are given a contract they can sign to buy a franchise. My understanding is that there isn't negotiating over terms for purchasing a franchise.
And where was the PR for this week? hehe...These guys are liars and crooks and you guys are just stupid for holding the stock. SELL AND TAKE THE TAX-LOSS.
How do we know they bought Sam's? Oh yeah, they told us.
Oh, you mean the little construction supplies shacks? LOL!!! Talk about bait-and-switch. They got you into this stock with PR's about huge projects in the Middle East, and now you're excited about the store in Windor! Wow.
It will be interesting to see what happens. If they announce a franchise sale, that will be huge "proof of concept."
You realize that these guys have most likely been looting the company, right? Do any of you seriously think Steve Sulja has any integrity?
They have extremely limited assets, huge liabilities from lying to shareholders, and, it looks increasingly likely, no overseas operations to speak of. This company is a joke.
The stock is worth nothing.
I agree. And frankly, I just don't think the website is impressive in any way really. I think after they raise more money, they could tackle that. But they just have no cash right now.
But in some ways, it might be bullish: if you look, they have really done NOTHING to market the franchises, that I can see. Most franchise companies are advertised widely on tons of websites: maybe uWink will do that and just hasn't really rolled it out yet, I don't know. But another possibility is that they really have been "inundated with requests from prospective franchisees" as Nolan said in that PR. I'm completely speculating here. Who knows.
In any case, the next big test is whether they can sell a franchise. IMO, it's no surrised that they haven't yet because federal law requires that after potential franchisees have been qualified, they have a certain number of days where they have the UFOC before they are ALLOWED to sign the agreement. In other words, I think it's actually impossible that they would have a franchise deal signed at this point. Zac
Ehh...Alissa Bushnell has a pretty good-looking resume. Go to her site at www.zimbida.com. The stuff on the franchise page is, I think, written by Mark Lubchenco. Zac
At some point you have to admit something is a fraud and sell, take the tax-loss, and move on.
It's not important to me...I follow this company for amusement because so transparently a total fraud and a few people still somehow are buying it.
Now that they lied once again, can you all just admit that this was a massive fraud and give up?
J'agree...my brother goes to Umass and said that they should have a uWink by every college campus (granted, he hasn't been there; he said that just from having seen the video).
I think that what some of the people who aren't impressed with the company are missing is that it doesn't have to be THAT great to attract young people: it has mildly entertaining games and touchscreen ordering which is fun. That's enough to give it a distinct advantage over a traditional restaurant/bar.
where's the PR?
oh please...i think that anyone who read that PR came away with the understanding that they would be doing a press release this week.
Can you read? It says that they will also be providing information about the corporate structure as well as answers to other questions submitted by shareholders...
www.hop.com try it out
right but during the course of the week would seem to indicate multiple PR's...as opposed to saying "On Friday, we will..." I would say it's unlikely that anything is coming
in the last press release... www.hop.com should help you decipher it
It's so strange...I don't know why they would lie and say they're going to issue a PR and then not do it...I mean, first of all, why would they make that up. Secondly, now that they've said it, they could obviously just release SOMETHING...it's strange/funny.
<<Then the food arrives — sushi rolls deep-fried inside egg-roll skins, build-your-own burgers, pulled-pork sliders, skirt-steak pizza drenched in balsamic — and you remember: Nolan Bushnell was also the visionary behind Chuck E. Cheese.>>
That is not a positive review is it? Am I missing something there?
It is so incredibly bizarre of them to miss their own deadline...lol
If there is no PR today/tomorrow can we all agree that these guys are liars and that this is not a stock anyone should own? lol
yeah, i've talked to him...they're not too forthcoming...but go for it and let us know what you find out.
When I spoke with the CFO I asked and he really wouldn't give any kind of timeline or anything. They're a public company. They reall can't say anything material other than what they've said. But you're welcome to give it a shot.
Stockhog,
so there will, 100%, definitely, be another press release on Thursday of Friday?
Hey,
I found this in an article on Entrepreneur.com:
"If you're interested in purchasing a franchise, you'll want to be sure to get a copy of their Uniform Franchise Offering Circular (UFOC) and review it from cover to cover. It's after you've contacted a franchisor and filled out their questionnaires to determine whether you fit the profile of "their kind" of franchisee that you'll receive two documents in the mail. One will be the UFOC, which contains 23 items of information about the franchise, and the other will be the franchise agreement. State and federal laws require that the franchisor give you these documents at least 10 days before taking your deposit and signing you on as a franchisee. If you don't receive them, you should be sure to ask about them."
So basically, I'm thinking that it would take an absolute minimum of two weeks from the annoucement before they could have any announcements regarding franchises. Also, from the Carvel Ice Cream site, their step-by-step guide to becoming a franchisee:
http://64.233.161.104/search?q=cache:LiLGD7ROi1UJ:www.carvel.com/franchise_steps.asp+from+UFOC+to+fi...
I think it's important that we get an idea of how long it should take to sign the first franchise deal. This way, we can say "Ok, if they haven't sold any by now, it means they're having trouble selling them."
There will be a press release tomorrow morning or Friday, right?
How can they announce it before they have money lined up to pay for it? I would be looking for that first
Wow, it's a good thing that the intelligence of your fellow investors has nothing to do with the viability of an investment. You guys are just a bunch of moron permabulls, especially Netman. I am long the stock, but that doesn't mean that there aren't risk factors worth discussing...morons. Zac
What's your opinion on the balance sheet hussler? ;)
Well if you're placing such a big bet, I would think that you would have some opinion on it.
Netman,
How do you feel about uWinks liquidity and cash position
big time
Thanks for posting that...really interesting. I had always kinda suspected that the 90% failure rate in the first year was inflated...Zac
it's listed there or in the 10-Q...
But lest we become too bullish based on this 8-K, remember that they were trying to register them. However it's a shelf offering so they register them all at once and then can sell them anytime over the next 2 years...the SEC thought it was too big for a shelf-offering so they reduced the size...this is right at the edge of my knowledge of this high finance stuff, so don't take my word for it...hehe
So while it is a vote of confidence that they chose to remove their shares from the offering, they may not have had much of a choice...who knows...I'm going to talk to Wilkniss. Zac
They were reflected...they'd already been issued...they were locked up though and t/f not part of the float.
I don't know anything special...i just read the filings...
Very interesting:
Read the new 8-k on the uWink blog...they reduced the number of shares being registered for the secondary by a ton, and NO OFFICERS OR DIRECTORS ARE NOW REGISTERING THEIR SHARES. This, to me, is a very strong vote of confidence.
Zac
It would be really, really cool to see an "Entrepreneur" magazine cover story on Nolan Bushnell/uWink...could probably get it too...Zac