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Great post! The CEO is getting the company on the right path.
As in everything in life, nothing goes perfectly. As many have pointed out, they are increasing revenues year over year so any penny stock that has an upward trajectory like that has a great future.
Long & Strong!
I agree with what you posted but let's see if this time he pulls it off. If he has some deep pockets backing the offering then there is a good chance he does expand.
If you've seen my posts here, you know I've been super critical of his lack of execution and if all we got were more LOIs, I'd be critical again.
I look for what is different now than before and the key element is these folks from Reeds/Raptor.
Parsi built three locations already so there is a precedence for him accomplishing that.
I don't know why he didn't expand since then, but if funding was the obstacle, maybe this time it gets resolved.
My biggest fear is Parsi trying to open too many stores at once. He does NOT have the manpower or experience to do that. It's great to have big goals, but also realistic ones.
McDonald's grew one store at a time at first. GIGL can follow that model of success. Opening one store a quarter for a year would even be huge.
I'm more optimistic now that a month ago. The pps is moving which is great. There is more investor interest, also great.
I'm fine with riding this current plan out for a while and see what happens.
Awesome news! Yeah, this isn't your usual penny stock PR. Some legit great exposure!
If a penny stock is producing revenue, that's good news. Thank you for the positive reminder!
We are "The Investment Community." We can tell lies when we read them.
They are repeated every 1-2 weeks. Blah, blah, blah.
The investment community knows the agenda.
Yes, people just make stuff up when they have no facts to back up their agenda. Must be convenient.
I guess that's how they do it on the short bus. ;)
And paid purchase orders!
Pretty funny stuff.
Any quarter that a penny stock makes money is a good quarter. It's nice to see people point that out!
Here is the front and back of the Reed's building. I thought the area sounded familiar from when I used to work in L.A. "way back in the day."
It's an industrial area, surrounded by Compton, Inglewood, Hawthorne, South Gate, and Gardena.
I know it was suggested this could possibly be converted to a GIGL in the front but it's not the place to go for a family outing. In fact, if this is the area I'm thinking of, when we had a response there after dark, we called for back up.
You can see the logos on the cars in front and on the boxes and trucks in the back.
Front of building:
https://www.google.co.th/maps/@33.9142794,-118.2761381,3a,75y,83.97h,82.09t/data=!3m6!1e1!3m4!1si3zO8_UpQr1HfFhjoHFEcw!2e0!7i13312!8i6656
Back of building:
https://www.google.co.th/maps/@33.9148062,-118.275092,3a,30y,203.16h,87.45t/data=!3m6!1e1!3m4!1snzjbfm6hvfqRHdgqgXazJQ!2e0!7i13312!8i6656
https://www.google.co.th/maps/@33.9143506,-118.2750943,3a,75y,275.39h,81.82t/data=!3m6!1e1!3m4!1sJxzkSzrUX2y2roAo4D54Yg!2e0!7i13312!8i6656
Car in front with beer logo:
https://www.google.co.th/maps/@33.9142794,-118.2761381,3a,15y,61.14h,71.96t/data=!3m6!1e1!3m4!1si3zO8_UpQr1HfFhjoHFEcw!2e0!7i13312!8i6656
Since you asked...LOL. (BTW, great post!) :)
"Let's go through some basic scenarios, shall we ?"
1) Assuming Reed's is in for $1M backstop investment...
Yes, Reed's jumping in is possible and there is some reason for them to be involved at this stage.
2) Maybe Jillian even invests some of her own money ?
No, that's not happening. We've beaten that topic to death.
3) Who would want to participate if the offering prices at a deep discount to current PPS ? If you stop and think, you would be destroying the o/s and float!
True.
4) Now, if it prices at say $1.75 per unit, what is your reaction ? Probably befuddled and wondering WHO would ever participate with those high prices ? Reaction?
Thanks, but no thanks.
5) *** Thing is - you will not know if ANYONE did participate until end of March. What IF $2.5M is miraculously raised and Joey immediately announces 3 new stores opening come early April ?
Any funds raised or deals signed in the interim would have to have an 8-K filed. They can't legally hide that information.
As to the $2.5 million "miraculously" raised? Well, A miracle would nice, but I don't know many investors who include miracles as one of their investing variables. Again, any deals would have to be filed.
Plus, there is no way three stores can be opened by April. Two months isn't enough time for pre-construction stages to be completed (site selection, permits, blueprints, etc.) let alone building complete stores as well. We have to assume that since no deals have been announced/filed, that they would be starting from scratch for the store construction and again, two months isn't enough time.
6) Don't forget, this entire offering could still be terminated as well.
True, but it seems like Parsi is dead set on this avenue.
7) No matter how it goes, it should not have come to this.
Very, very true. He had better options than this.
8) There is absolutely no question that our CEO is in way over his head/skill set.
Very true again.
9) One problem, though - the damn concept works and demand seems to be increasing per current reviews.
You are correct again. But a good concept without execution means zero. It means what we have here, poor execution, an unprofitable company, and dwindling options until the lights are turned off.
10) For me all penny stocks are a gamble but if this one hits, the upside would be HUGE with such a locked float. I doubt people are going to sell for a few pennies of gain on this one.
True again!
You raise some great points and as a fellow shareholder, I hope Parsi is able to work out something with someone. I just don't get why he's taking the most difficult and costly path to follow.
And...I'm not going to try and guess why because we won't be any closer to knowing the truth until it happens.
I don't look for logic where there is none.
I was always supportive of the concept. The only thing I would change about the actual locations is make them larger. If they are constantly packed to capacity as numerous reviews state, that's a sign they need to be larger. That's an easy fix.
My criticisms have been directed at the CEO for his lack of execution and his salary.
I also hoped he pulls a rabbit out of his hat, which he may or may not do. But I'm certainly supportive of that as I always have been as a shareholder.
That's why I dug into your new information and found some potentially good news (in my last post).
Since when is making a profit a bad thing? Especially a penny stock?
Nice post!
Well, Raptor Group is invested in two companies that are in the kid's space. They also have an organic tea company, bottled water company and beer and wine.
You guys will love this!
Hulafrog.com and Getunreal.com
1) Hulafrog: https://hulafrog.com/
Local things for kids to do. Hulafrog is a website and email newsletter for moms looking for the scoop on the best local events, destinations & deals for families.
2) Getunreal is a natural candy company: https://getunreal.com/
"Once upon a time...there were two kids whose parents really didn't want them eating their favorite chocolates.
Not much of a story there, but it made these brothers dream: could they remake their favorites without the bad stuff?
A thousand recipes later (for real), they cracked the code to making some of the best tasting chocolate snacks ever.
We aren’t kids anymore. But we’re still inspired by our unreal dream.
Good is back, and it’s just warming up."
Look at getunreal's distribution: https://getunreal.com/#map
Whole Foods, Kroger, Amazon, etc.
Link to it on Twitter:
$TXHD has been down-selected for a top Digital Marketing award from a premier publication. Award winners to be announced in early March. Our Smart Automated Messaging (SAM) platform getting noticed #SMS #Innovation #DigitalMarketing pic.twitter.com/e3f7uMysC4
— Textmunication (@Textmunication) February 17, 2018
He would know.
Great post & so true!
Everyone knows their game plan, it's pretty obvious and simplistic.
Racism is the only card left they can play. Increased revenues? They can't attack that. Sales channels? Improved there too.
They work for free bringing attention to $BMXC! They are some of their greatest cheerleaders!
I hear you. These fundamentals have to make this one pop eventually.
Thoughts? Okay, since you asked...
Your "plan" was tried by at least two VC entities already with no success. You read this board daily so you already know this.
There is no guaranteed huge payday. Who is guaranteeing it? You? This is a turn around project of an unprofitable business. NOTHING is guaranteed about it. NOTHING, no matter how many times you post that it is. It's not.
You've posted this same little scheme every day for the last three months.
A rich white knight who throws money around like it's candy, throwing any realistic business valuations out the window for this "guaranteed" pot of gold at the end of the Giggles rainbow. (Please don't insist AGAIN that share increase profit scheme will make this white night rich).
You must have Disney movies playing inside your head 24/7.
So true. Good post!
Winners look through the windshield when driving a car. Losers stare at the rear view mirror until they crash.
That's why the windshield is so much larger than the rear view mirror.
Ah yes, thanks! I can't believe I forgot all that.
I didn't read anything that the ships are not operating and up for repairs so I'm not sure the age of the fleet is an issue in the share price. If they were repeatedly broken down and out of service, sure, that would be an issue.
If you have something that states the contrary, please post it because I think it would be important.
Also, if they are functioning well, then it shouldn't be a negative against the share price if they don't plan on replacing them.
I'm not trolling, I sincerely am open to anything that indicates these issues.
That's a creative post. LOLOL.
Good news! PR today. Expansion into Nigeria:
http://www.4-traders.com/800-COMMERCE-INC-17083783/news/Petrogress-Inc-Announces-Expansion-of-Operations-into-Nigeria-25984754/
Projections are looking great too! It's going to be a great year for BMXC!
The company is buying back stock! Awesome move!
The only thing that will make this stock jump anywhere near ten cents is announcing a construction commencement date on the next location. Not an LOI, MOU, or any other "agreement" but a deal that has been signed, a location selected, and a date to begin construction has been set.
Regarding this offering...obviously it's not a first choice plan or it would have been done ages ago. It is a last resort plan. A Hail Mary by a CEO who has backed himself into a corner.
What the money is for (corporate expenses) has been very clearly stated. Nothing shocking about it. It's in the latest offering document. At least he's being transparent. He wants to keep the lights on and keep his salary coming. Simple.
I'm confused about the "lawyer up" thing? A start up company that wasn't able to become profitable enough to self fund expansion and not able to raise enough outside money to expand either? That's a daily event in start up land.
His projections for expansion are just that...projections, not a contract. Projections are goals and not every business reaches its goals. That's it.
We don't like it but it's nothing unusual or illegal in the business world.
I agree with you that the offering is a horrible idea. Making us pay for his salary is ridiculous.
It's just a waiting game. Maybe he can pull a rabbit out of his hat. That would be awesome.
But we know better about money for expansion.
And...I doubt they lied (or whatever word you're comfortable with) in their latest SEC filing.
Their latest offering was clear, the offering money is to be used for corporate expenses. That includes salaries.
Then according to you they are in good shape!
We've gone over this many, many times. He's doing the offering to keep the lights on and his obscene salary coming in. It even says in the offering what the proceeds are to be used for:
"We are conducting the rights offering to raise capital that we intend to use for general corporate purposes."
Do you see the word "expansion" in that sentence? No.
Plus $GIGL already refused money that was contingent on it being used for building a new store, NOT operating costs of current stores.
They couldn't be any more up front about the purpose of the offering. It's not complicated.
What's up with the racial slurs? Just because the CEO is black is not reason to make up these "Nigerian Scam" personal attacks. Stay on topic please.
The $GIGL folks have already indicated they will not put up any money out of their pocket to keep the company going.
This offering goes first to expenses (salaries) and if, only if there is anything left will they slot it for expansion.
You can call projections whatever you want. One can plan on and not meet the plan.
We know there's no money for 6-12 stores and I know that I didn't expect that amount of stores last year anyway. In my dealing with the company, I was hoping for one new store in 2017.
A CEO isn't going to come out and say "Eh, we might get money for expansion, but we might not. So, really who knows what is going to happen for the rest of 2017."
I'm not saying they should go overboard and lie either. But all companies plan, make projections, adjust projections, pivot, and move forward.
One hopes the projections are based on some facts but really, projections are a prediction of the future so it's not all science.
But Parsi does not want the next step to be building just one new store. That's been established. He won't back down from the 6...8...12 mantra. I don't think that's possible but that's his plan.
PR today. Read 'em and weep folks: https://ih.advfn.com/p.php?pid=nmona&article=76641053&symbol=GIGL
Okay, so what's your plan? To get this moving?
"Obviously the support is here from the investors and the patrons so let's get this thing moving..."
In response to your call for "patience."
The company projected 6-12 new stores in 2017. That did not happen. The company was offered funding for new stores on at least two occasions by two different entities and they were both rejected.
Now the company wants to do an offering that no one wants nor will participate in. The shareholders don't want to pay the CEO's bloated salary through this offering.
We have had lots of patience but the company has had ZERO execution. No one was really expecting 6+ stores in one year. We would have accepted one new store as sign of them growing. ZERO is NOT acceptable.
No, the price movement was like this before the O/S got larger.