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Meh...company is chugging along...
People may have been excited about new endeavours that never panned out, but now that they are concentrating on the cafes, it is going to be a little boring. Even if people know about FUNN, this economy turns off any type of investing in restaurant businesses, regardless of what management does...IMO.
$FUNN
The Q4 restatement was not due to any numbers changeing. I just saw minor fixes like the company address, so meh...
$FUNN
Looks like it is out this morning:
https://www.otcmarkets.com/otcapi/company/financial-report/351181/content
$FUNN
10-Q is due Monday, November 14, 2022.
$FUNN
So must we constantly preach to the choir?
Listen, I understand the frustration. What I don't get is the constant daily frustration. The reality is that if this stock would have been going up with the same behavior from management, no shareholder would be complaining. So once again, it's a Pink pennystock, high risk/high reward, a.k.a. a gamble. Sometimes it pans out how we expect, other times, it doesn't.
At some point it should run again, at least based on the trends we see all the time in this tier, regardless of what management does. Any shareholder not happy with their investment should have an exit strategy in place just in case.
$FUNN
Luckily for me, I don't worry about FUNN, at least not anymore. I just let things be since I know the situation we are in and the type of management we have. I have learned to tamper my expectations so if it works out in the end, great, but if not, oh well, lesson learned. Besides, why would I continue to worry about things I cannot control, especially when it comes to a Pink penny stock?
On a positive note, as they try to become profitable and despite all past failures, the company is still doing business with 7 S&L locations today as opposed to 2 locations 5 years ago, they haven't reversed split like so many other Pinks, and haven't been diluting lately as much. We now have a looming recession that is not helping, but yeah, I prefer to wait and see what happens down the road.
But one thing I do expect for sure is to continue to see management be disrespected and get blasted to oblivion whether they do something positive or negative. That seems to be the only constant about this stock.
$FUNN
No need to worry anymore. Attorney letter posted today:
https://www.otcmarkets.com/otcapi/company/financial-report/349842/content
$FUNN
Nice movement!
$ETH.X
The new Twitter account is really the existing one. It was mentioned on this morning's P.R., so no new Twitter account.
It makes sense to go this route since the account already has a large following.
$FUNN
There is a banner at the top with the words "VOTE HERE!" in red that you can click.
It looks like they put out a presser about it, in addition to an update about keeping the existing Twitter account going forward:
https://www.stocktitan.net/news/FUNN/snakes-lattes-inc-announces-nomination-at-industry-prestigious-su85afko8t14.html
Anyways, back to the sidelines for me until there is something worth posting about. Looking forward to Q1 filings which are due in mid-November. GLTA shareholders.
$FUNN
Yes, corrected my initial post. It opened Q4, 2022. Oversight on my part. Thx.
$FUNN
The handover officially happened on April 1st, 2022 so yes, Q4 2022. I failed to realize that Provo was already included. Got my quarters mixed up.
We still have a little over a month for Q1 fins, but with the addition of Provo this time around, I expect an improvement in revenue compared to this past Q4. Also, hopefully closer to net profitability as well. Crossing fingers.
$FUNN
Yes, management sucks, we get it, but this clearly summarizes the situation at the moment (straight from the company in the latest P.R.):
It's not worth the time and effort unless the stock starts trading again. Anything MW says is meaningless unless he can prove it with a follow through.
Enjoy the rest of your weekend...
$MRGE
Instead of meaningless banter, it might be worth mentioning to Ben that the attorney letter for the yearly financials gets filed so that we don't see a Yield sign. Glad to see at least he came through yet again filing financials on time, but we need that attorney letter filed.
$FUNN
My pleasure.
$FUNN
Great post. I always welcome the other side of the argument and not just the "it's a scam or it will be $xx soon" responses. Only time will tell on how Ethereum going to POS will impact it in the long haul, but the good thing is that this market is still evolving and the technology keeps improving.
$ETHUSD
Yup, less revenue because they let go of the dead weight that would never become profitable (distribution) and due to COVID protocols that were still in effect in the earlier part of fiscal year 2022.
My crystal ball is broken, but revenue is on a growth path again in the 4th quarter, despite inflation, so hoping the trend continues.
$FUNN
$FUNN yearly fins out.
Over $6M in revenues, increasing post pandemic.
https://www.otcmarkets.com/otcapi/company/financial-report/347544/content
$FUNN yearly fins out.
Over $6M in revenues, increasing post pandemic.
https://www.otcmarkets.com/otcapi/company/financial-report/347544/content
Creeping up, which is good. Now we need profits to come to fruitition. Let's see if we get there...
$FUNN
Annual report out this morning:
https://www.otcmarkets.com/otcapi/company/financial-report/347544/content
$FUNN
1) Management sucks (for the 1,000th time).
2) It's a Pink OTC stock (high reward/high risk), most people trade down here.
3) Market dictates the share price based on valuation and potential.
4) Fins should be out by end of next week.
5) Have a great weekend!
$FUNN
NASDAQ or the NYSE?
$LPTV
Yup, any day now...hopefully on time, as stated by the company.
Now back to attending to more important things than FUNN for me...
$FUNN
We have already established the fact they suck at follow throughs, but then again, what else can be expected from most OTC stocks? What I won't do is point it out daily, especially when management has gotten an earful of criticism already. IMO, that is not going to change anything and will only invite more criticism, doubt, and fewer eyes to the stock and concept in the end. Emotions are better left at the door down here, otherwise why would I even bother investing/trading in the first place in a Pink sheet stock, or worse, buy more than I can afford? It was my choice to take the gamble in the first place, regardless of what management says or does.
I have money parked here, so either I wait for the business to pan out, I trade it, or I move on and cut all my losses. I decided to do #1 and accept the fact that this may or may not pan out, knowing the risks and preferring to see the bigger picture, which is to hopefully see profitability at some point. Anything else is a nice-to-have, whether it happens or not. In the meantime, they have 7 locations with hard working people that continue to operate and manage them. This is 4 locations more than when the stock was pumped to $.235 back in 2017.
$FUNN
They stated they would and I'm sure they will. They were able to do so for the past few quarters.
$FUNN
More B.S.? There are 7, not 6, that are fully open and operating:
1. Midtown
2. Annex
3. College
4. Chicago
5. Tempe
6. Tucson
7. Provo (and yes, this one counts)
And even though they communicated that they took over Glendale, it never happened, so yes, they misinformed us and Glendale was never under their control. And?
$FUNN
Good luck with that. We are at their mercy. Anyone who took the risk to keep holding had to understand the risks, especially in the OTC. And if you think about it, the only thing that has changed recently is the closure of their smallest location, Guelph.
Locations are still open and doing business the last time I checked and revenues are improving post COVID.
$FUNN
Looking forward to the yearly fins by next week. They did state in the last P.R. that they were going to be filed on time so I'm concluding Ben has been spending his time lately finalizing them.
I remember this statement:
"Q4 revenue should be north of $2 million USD" in the following presser:
https://www.otcmarkets.com/stock/FUNN/news/SNAKES--LATTES-INC-OTC-FUNN-Is-Pleased-to-Report-a-103-Increase-in-Year-Over-Year-Q3FY22-Revenue-at-1497209-up-From-7361?id=357242
which means revenues continue to grow post-pandemic.
Nobody knows for sure how the company ends up since we don't have a crystal ball, but having what I expect to be over $6M in revenues for fiscal year 2022 based on that statement, let's hope they can find a path to profitability at some point in the near future. GLTA shareholders.
$FUNN
No kidding. A lot of people are missing the point with Ethereum. The Merge was suppose to be done to improve the future of the technology, and was never meant to boost the price of Ether in the short term.
IMO, only swing traders and those who don't understand the technology care about the current price action. The value will come over time as improvements to the ecosystem continues (i.e. lowering gas fees, improving the speed of transactions, etc.). Sure, they are competing with other technologies like Solana, but Ethereum is winning the popularity contest and is better established.
One thing is for sure, this is not a one trick pony like Bitcoin, which only acts as a digital currency, but Ethereum also enjoys a solid backing.
GLTA!
Sell at the wedding. Buy at the funeral.
$SSFT
Welcome to the board, Bunkey.
$BWVI
Sometimes things don't work out.
$FUNN
Ha! I didn't even realize I pasted the wrong quote from the P.R. on my response to the original poster about Guelph. This is the one I intended to post last Friday. Thx.
$FUNN
Can't help you there. I only know as much as what was provided in the Q&A.
$FUNN
What I meant to say is that the following statement appears to hint at why Guelph didn't work out, although we really don't have the actual details of why it ultimately closed. My apologies since I didn't mean to imply that the Guelph closure was directly mentioned in the Q&A:
"We are not seeking to expand in Canada as the environment is very difficult. If we expand in Canada it will have to be an extremely favorable deal for Snakes & Lattes with a direct path to profits for that location."
$FUNN