I have a business background, this is my take. More dilution is only one option, but there are many better options out there that I’m sure SP is looking at. You know that he will analyze the numbers from his first site before making any decision on what to do next. Anyone that has ever owned or operated a business knows that the first week or two is considered a soft opening. Its where you workout all the bugs, with this being the first site it was bound to take longer (because of the unknowns) than future sites would take. Unless the numbers were astronomical my guess would be he’s waiting to see how every day numbers play out, after the first couple weeks or month's, to see how every day transaction numbers do, to see if there are any trends there. Openings tend to skew numbers one way or another. If the numbers show that the banking has huge potential, most likely he would change his business model, more quickly than he originally planned, to capitlize on the info. There are 2 Easy ways to do this, one is to sell off other assets, using that money to focus more on the banking sector and increasing the number of distribution sites. I know many of us are focused on this one part of the business because it offers the biggest potential. Another option other than more dilution he has is to partner up with someone who either has more Cash or offers access to more locations. This could be potentially other bank’s, retail chain’s who would collect a percentage of the profit. It would be know different than going into a Walmart and finding a Subway or bank within the store or a Gas station that sells lottery tickets, then they would be splitting the profits. This is the easiest way to increase distribution and it’s in distribution that we would see the greatest returns.
When I see trends it usually takes me several months to go 100% all in, usually your building yourself up slowly adding to that position until you can confirm those trend lines.