Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
It certainly did run, unfortunately downhill.
Actually those statements were made in a recovering economy, i.e. May 2013 if I recall. And today the US economy is leading the way (supposedly) and GRLT still can't deliver on any promises.
Oh something was happening alright, insiders were fleecing investors out of millions of dollars with pure lies. The promises of 20 owned outlets and 58 franchised outlets within 5 years was a pure lie. 2 years later GRLT stand at one genuine outlet and one franchise.
As for the Texas expansion Group being the new beginning of this scam, just remember the same puppet masters are still running the show and pulling all the strings. The taste of a rotten apple doesn't get any better with age, it just continues to rot the other apples in the barrel.
Anything is possible for Grillit, you can promise everything and deliver nothing which GRLT has been doing for the last 3 years.
Target has opened and then closed around a 140 outlets in Canada in less of a timeframe than it has taken to get a single Grillit franchise built. Then as they built one franchise one of their original 2 outlets closed, hardly a great success story.
Why stop at the rest of the world, I'm sure Ghazi Hajj put his name down for the Mars passenger list to open the first GRLT franchise on the Red Planet. I think they go under the Martian Franchise Wing? and are expected to attract as much if not more business than the Texas equivalent have so far.
Not a "Bag Holder" just a basher of a scam that I have been proved correct on since the $5 PPS almost 2 years ago. I have forgotten more than you will ever know about this POS.
But I wonder if it leaves a horrible taste like the 99.9% devaluation of the share price has for investors in the last 18 months???
I kept this post as you asked me a question to my post 1475 where I stated my negativity was 100% correct. In a mocking way scorned my comments and you suggested that this Company (FVSTA) was different, i.e. refineries oil fields etc. Well all I can say is I am still 100% correct, at .0001 I could not have been more correct.
Also in my 1475 post I mentioned I thought GRLT might succeed however I changed my mind quickly and became a basher of it and have been proved 100% correct that it was a scam also.
Have a good weekend. Don't you just love it when I'm always correct!!
I'm incorrect last filing was September 2014. Thank you for that, you know who you are. I looked high and low for that info before making the comment.
Based on the trading of 50 million shares during the last 2 days Grillit is brazenly lying to people. If you look at the investors page on their website there is only 96 million outstanding and a public float of 56 million.
Looks like the printing presses have been working overtime and creating a lot of worthless paper. You can't trust a Company whose last advertised quarterly report was May 2013 and last Annual report was April 2013. That is a sure fire way to have doubts about the goings on behind closed doors.
From their website today:
Shares Authorized 250,000,000
Shares Outstanding 96,658,190
Public Float 56,796,778
Stock Symbol GRLT
Stock Exchange OTC Markets
Incorporation Nevada
Fiscal Year End Dec. 31
From August 15th 2013 please read when the share price was $3.66, pay particular attention to the 2nd paragraph where it states it has 2 corporate stores and has signed 3 new franchisees in the last 3 weeks alone. Now tell me how you can believe anything the people in this Company say. It was all BS then and nothing has changed.
INVESTMENT HIGHLIGHTS
GRILLiT, Inc. has the right leadership, concept and early wins to become the next major success story in fast casual dining. By marrying an innovative health conscious menu with what may be the only pure play Latin-Caribbean fusion concept chain, GRILLiT has already enjoyed success and acclaim in its 2 South Florida restaurants.
In addition to its 2 corporate owned stores, the Company has signed 3 new franchisees in the past 3 weeks alone. Management plans to have at least 21 corporate and 58 franchised locations operating within the next 5 years.
Investors will benefit from a series of short-term milestones including the opening of GRILLiT’s 3rd corporate owned store and additional franchisees coming on line in the next several weeks.
When compared with peers Chipotle Mexican Grill (NYSE – CMG), Noodles, (NASDAQ – NDLS) and Panera Bread (NASDAQ – PNRA), which are trading at an average of 55x FY13 EPS and at an average of $4.5M per company store, GRLT appears attractive. Moreover, as the Company continues to grow and open new stores, we believe that GRLT will become a sought after takeover target due to its low-cost, high profit, innovative fast casual concept. Thus we rate GRLT Speculative Buy with an $8.00 intermediate term target price.
Full article here. http://www.google.ca/url?sa=t&rct=j&q=&esrc=s&source=web&cd=8&cad=rja&uact=8&ved=0CEUQFjAH&url=http%3A%2F%2Fwww.goldmanresearch.com%2FDownload-document%2F321-The-Next-Chipotle.html&ei=gQbuVO2ELcqhNvDfgrAB&usg=AFQjCNGbqpW8rajUwu1o1MXnC1rwIfk5zQ&sig2=5BrncVqwM95sdkbx3m4p9A
Where are the buyers coming from to drive this up? certainly the thousands of stool pigeons who have been well and truly burnt by this, over the last 2 years, aren't going to touch it with a barge pole.
Despite all the promises, and the so called Texas Expansion Wing, they haven't moved anywhere in the last 3 years. Very few franchise enquiries and the business model for earnings from those franchises doesn't support any near term growth in share price anyway.
Sorry to say but for those people still holding this and living on a prayer, there is still lots more downside to come.
Traded over 20% of (declared) outstanding shares today and still dropped significantly. These are not good times for this rubbish.
Would not be surprised to see the outstanding number of shares being way more than the declared amount of 96 million. Dilution or not, the price is going down into triple zeros very soon.
The first line of business is to solicit bids/business ventures plans/employment opportunities etc. Then review each bid on it's merits. If at any point through this process a Company has been found to be telling lies or making false claims then they get the boot big time. The choice then comes down to the more honest and trustworthy bids.
FITX failed at the honest and trustworthy part of the process for telling lies and making false claims.
What "facts" everything so far has been lies!!! How can you trust a single thing this so called Company says?
Could be testing the all time lows within another week, no good news and not even any good lies for this garbage.
Yes it will fly like an ostrich thrown from the top of the Empire State Building?
The price will drop or rise to the last transaction value, doesn't matter how many shares change hands.
The reason that the PPS is down here is because it deserves to be. It has nothing to do with MMs. Nobody in their right mind would drive this POS up based on the last 3 years of broken promises. There is zero reason to pay anything more than the current PPS unless you believe in Fairies and Leprechauns.
My sentiment exactly, why would anybody "supposedly" that had previously owned 3 McDonalds franchises, be interested in the Wild West OTC marketplace? Never mind GRLT as a single entity?
The current minimal capital required to start up a McDonalds franchise is $750K. If I'd opened and sold off 3 of them I'd be living on a beach somewhere in Hawaii.
"It takes time to make a decision about a franchise"
You got that right!! it's taken GRLT 2 years to negotiate one new franchise. I wouldn't be holding my breath for the next one to be completed.
200 stores you say. Lets see it has taken over 2 years to get from 2 stores to 3. By my math I will be 453 years old when the two hundred figure is reached. I'll look you up and we'll go out for a beer to celebrate.
One, and it's a franchise that will pay a $12K flat fee and 4% per year royalty (if I remember the figures correctly?), hardly a great rich quick return on investment. Every new franchise will have the same financial obligations.
When it was $5, I'm sure people would have laughed if I said I would buy it at .003 in 18 months, so .0001 in the not to distant future might not be out the question??
I'm waiting until it gets to .0001
912K shares at .003 is $2,736. Wow big deal!!!!
Do you like the fact that they have orchestrated a 99.9% reduction in share value, creating some very pissed off investors along the way? I recall 20 months GRLT was valued at $180 million, today its worth about $300K, or about the same as a 1 room bedsit in New York.
With a track record like that no reputable investors are going to touch it with a proverbial barge pole.
Well if the disintegration of a share price drop from $5 down to .002 doesn't smell like a scam to you, then I think you shouldn't be playing this market??
There is no doubt that thousands of people have been well and truly shafted by this piece of cr-p. Whether they can expand the legitimate 2 stores they own into anything more than promises for further openings is anyone's guess but since they have been promising to expand for 3 years now and not opened a single extra outlet I think it's a stretch to believe anything they say. You can't do Due Diligence on a Company that have done nothing but made false promises in recent years. That's called a track record and it stinks!!!
However for a small financial punt you can obtain plenty of shares and if you like a Las Vegas gamble then take a shot.
Maybe GRLT should give a free plastic toy with each kids meal. And then they can send out happy pills to each investor that has owned this sh-t for more than 6 months.
"Support the show. Spread the word" and continue to lose a f--king fortune, in invested money, in these dogs.
I think I was the smart one before posting it? If you are indeed a broker I am pleased you are not my broker since we both know that 638000 shares at between .004 - .005 is about $3K.
The last time I looked it had sold around 840000 shares today at around .0045 where I studied mathmatics that is less than $4K, not sure what it adds up to for you?
This Company has been making false promises of new openings for the last 2+ years. So far it's still a big fat ZERO. Yesterdays little jump in share price was on around $3K worth of trades so don't think this has turned any corners yet. To many people have been burnt really badly over the last 18 months to even consider this DOG. It will really struggle to find many stooges to give it another chance.
Hope Snoopy6 is enjoying his fishing trip and not looking in on the Grillit share price. 30% down today, beginning to look like triple zero territory.
I've been ultra critical of GRLT ever since shares peeked at over $5, with 37 million shares in circulation giving a market value of close to $200 million. That was only around 18 months ago. Today there are around 96 million shares trading at .003 cents giving it a valuation of less than $300K, how times have changed.
For the rest of the year I still believe there is downward pressure, I know if I had owned this since the start of the year I would be looking to sell before year end and get my capital loss to offset against any capital gains for this year.
Beyond this year I'm on the fence down in these prices since it does have a legitimate business, which is more than most Pinkie P&D's have. So for a minimal price/stake there could be a decent chance of a ROI, even if it got back to 2 cents from todays price thats almost a 700% return. If you like playing the tables in Las Vegas, Grillit could be for you.
Holy Sh-t all time lows again today, even I was beginning to think it may have found a bottom but looks like that is not the case.
Just pleased he didn't bet the kitchen sink on Grillit and managed to put a bit to one side for his fishing trip this weekend. 135,000 shares @ .185 = $25K thats a big hit.
This board is definitely missing Snoopy6 today, don't agree with his predictions for Grillit but admire his enthusiasm to a lost cause lol.
Yes lets hope so, this is an investment I told my wife about at the time, and she has never let me forget it. It would be nice to tell her I told you so lol.
I bought at the price you are hoping it will go up to i.e $2 - $3. My average is around $2.70 and rode it all the way down to 20 cents. As I said "if" this takes off even $3 a share will seem cheap, so I'm just going to sit back and let things take there course.
Sometimes averaging down can be like throwing good money after bad, as far as investing goes, and I knew when I bought in that it was high risk.
The fact that the escrow money is now available should see some movement on the share price since back when I got in this was a well talked about venture on BNN which is the Business network in Canada. Hopefully it comes back into the spotlight.
So we have the money, about time, now lets get this show on the road. Held this for over 3 years and bought at much higher prices than this but not buying any more to average down. Way I look at it, if it's successfull even my buy in price will make good money. If it's a bust, so be it, that original investment is in the history books anyway.