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I think the guy is over his head. Lots of debt and no way to resurrect the GRLT concept.
I would love to see this ticker move higher. The CEO needs to get going. I would speculate that he doesn't have the resources to do anything so he lets the ticker sit idle. When you have a public company you have a duty to the shareholders to try to create value for its shareholders. Obviously the CEO doesn't really care to let anyone know what his plans are even if there is a lack of plans. I personally would like the ticker to shutdown or move forward but just letting it sit and do nothing, well is just stupid.
I bet u buy a lot of companies that are .0001 and hopefully u get to double your money. It's a know strategy for buying these dead stocks. Looks like all the lights are out and no one is home.
U can have my shares for a 1.00. how do we make it happen?
How long can a ticker run without any officers. I would think there are fees to be paid.
Thanks
There really is nothing here. I doubt a press release would move this dead horse unless the company gets someone stupid to put up money. Not going to happen. At this point whoever is running the company will have to put up there own money to get something done and then when this company becomes viable we can get investors but I doubt that will happen. I don't know how these people sleep at night. Lets pull the plug on this POS or get going with a new venture. Forget about opening restaurants. Too capital intensive.
There are no buyers. I have tried to sell some shares at market and the order doesn't get executed.
I think Greg or however owns this POS should either close the ticker or go into bankruptcy and come out debt free. Forget about opening restaurants and starting a franchise model. It takes way too much money and expertise. I would rather see GLRT partner with a plant based meat replacement company or individual who want to go out on their own. They can come up with recipes and food products that could be wholesaled to other restaurants. Why not sell the protein to consumers along with a recipe book. How about a diet centered around plant based protein. Plant based meat is the hot thing right now and the craze is just getting started. Sure its been around for a while but new techniques are out there that can take plant based meat and make it taste like real meat. Or how about creating low calorie, healthy meals and selling them online. We need to crawl before we walk and if Greg or whomever wants to really revive this POS they need to think out of the box. The need to think how can I spend the least amount of money and create the biggest buzz and greatest profit. There is just too many shares and probably too much debt for anything to happen. The original concept is not going to be revived IMHO. They need to think and act smart. Yawn!
I really think that Greg should either pull the plug on this POS or send out a PR letting us know what is happening. Leaving us all in limbo is not being a responsible company owner. This company is dead except for the stock ticker. He knows this. He needs to raise money but there are no assets for any venture capitalist to get excited about. He needs to raise the dead. Mikey you can't have revenues without a way to make money.
Crickets. Greg lets get going. Lets shutdown the naysayers.
All I know is that when I invested in this company they had one successful location and then they began to franchise. The company went broke. I feel if there was fraud then the sec should do its job and put the fraudsters in jail with hefty fines. We all know things didn't go well. Also as an investor we all hope to recoup some of our loses at some point. The past is the past we can only go forward. We heed the warnings which are also all over the website. All we can do is hope for the best.
I'm just happy to see some activity. I feel like something is brewing. Restaurants are capital intensive. GRLT would need to open one location and prove the concept before more locations could be opened. It would take a while for this to happen. If Greg has never ran a restaurant or managed a staff then the ticker is doomed. I don't know what his experience is. I can tell you that the formula for success is not that hard to understand. People want a clean restaurant with good ambiance, excellent, consistent food and great service. There are so many restaurants where the food is just OK. The owner will spend close to a million to open a restaurant do crazy remodeling and then hire a cook instead of a chef. Get a great chef and if they hit certain milestones they would earn a percentage of the take. Work on a menu where everything is fresh - stick to a manageable amount of item on the menu that can be cooked to order. Some of the best meals I have had were places that only offered 10 or 12 items. I also feel that people want quick. I like the idea of a Chipolte type place for ordering and sitting down. There just isn't that many places that offer quality food quickly. Lets see what happens.
We don't have much to go on. We had a great PR about a year ago. We are just waiting to see what happens. The new guy seems to be a straight shooter. He has a mess on his hands. I think this guy has a lot of shares and wants to keep the ticker going since it's the only way to recoup the money he lost. That is good for shareholders. We are in a holding pattern.
If the company is pumping the stock with lies than they should be shut down by the SEC and no I'm not for it. But no one cares. It's like playing the lottery. Just the way it is.
We know but we still want to take the ride.
Greg does mention a reverse split. I think that is very plausible to get the shares into the millions. He had a lot of positive things to say in the last press release. This company is a mess but Greg believes in the original concept so lets see what happens. I've been a long term holder and would love to see this restored to a profitable enterprise.
“I invested in GRLT because I believed that GRILLiT had a great product and ability to expand rapidly. My family visited the store in Miami as well as the store in Nashville before deciding to purchase our Franchise in Tampa and purchasing GRLT stock on the open market. My goal is to increase the market valuation of GRLT stock through stores that are profitable, are cash flow positive, and able to expand from increasing cash flow. I am also working with our Transfer Agent to identify stock issuances that were unmerited as these issuances had a large negative financial impact on me and my family as well as numerous other shareholders. A future reverse split is likely in order to bring the shares outstanding to a reasonable amount of other small start-up companies. The financial challenges GRILLiT INC faces are ongoing and we hope to have financials that I am willing to sign as truthful in the coming months." – Greg Mitchell
What do you guys make of this. Shows a filing date of 2002. https://www.nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=dGIfLBdCqK%252fan5cLEDceVg%253d%253d
Mr. Mitchell. Make a decision on what you are doing and then let us know. It has been 4 months since your last PR. Shareholders would love to know your plans or lack of.
Good volume and the price is going up. Now we need a month of this momentum. Go GRLT.
I find the whole thing tiring and disappointing. I would love to know one way or another what is happening. I think that this guy has a duty to us shareholders to keep us informed. He is taking longer than the Muller report.
It's not working if that is the idea
I hope this stock makes a recovery since I lost a lot of money here. It would be great! That said I have to agree that no one knows what Greg is doing unless Mikey is Greg You seem to have a lot of inside information. I don't care. I just would love to recoup some of my losses. Past management drove this ticker off a cliff. Lets see what new management can do. We only have the on PR to go on. It makes no logical sense that current management would leak insider information to one of the board members.
I'm not invested but watched the reverse split and steep decline of the stock. The company is trying to grow fast. Lets hope they don't run out of money.
Sounds great. I love the grillit concept. There are lots of Chipotle knock offs but Grillit had a much more diverse menu that I know will appeal to mass America especially generation X.
It's nice to see volume.
I think we all just need to sit back and see how this all plays out. I'm pleased that we have a pretty. That is a step in the right direction. We will most likely understand more as time marches forward. I'm giving the new guy the benefit of the doubt. Love to see a new store open. I couldn't find anything negative with Mitchell so that is good too.
I thought the PR was very straight forward and authentic. This is excellent news. I look forward to seeing what Mr. Mitchel can do with GRLT.
This is a silly discussion. Obviously the new CEO is responsible for any debt, etc. or mess linked to GRLT. I think what the other posters were saying is that the new CEO is going to be above board and while there were shady practices in the past it can't be held against Mitchel. That is the only scenario that makes any sense to me. The jury is out on this. I would love to see this ticker revived. I lost a lot of money here and hold millions of shares. Anyway, I do find it strange that there was no press release that he is not the CEO. I'm wondering if he was given shares, if he is the new owner as well, what debt is on the books, etc. If there is debt on the books and a lot of it. I can't imagine there isn't since two restaurants were opened and then closed why would Mitchel want to take on this debt when he could just start clean. Again, the only thing that makes sense is that he has a ton of shares and wants to build value with those shares. The ticker is worth something. Found this:
The Listing Fees and Annual Sustaining
Fees of the OTCQX(1)
Listing Fees
Application Fee: US$5,000 ($6,610)
New Quote Annual Fee: US$20,000 ($26,440)
DAD or PAL Fee: US$15,000 ($19,830) to US$150,000 ($198,300)(2)
Manual Exemption Fee: US$3,700 ($4,891) to US$4,800 ($6,345)
DTC Eligibility Related Costs: US$13,000 ($17,186)
Min: US$56,700 ($74,957) Max: US$192,800 ($254,883)
Annual Sustaining Fee
OTCQX Annual Fee: US$20,000 ($26,440)
DAD or PAL Fee: US$10,000 ($13,220) to US$100,000 ($132,200)
Manual Exemption Fee: US$995 ($1,315) to US$1,465 ($1,936)
Min: US$39,995 ($52,874) Max: US$121,465 ($160,577)
Found this: http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResults/OfficerRegisteredAgentName/Mitchell%20%20%20%20%20%20%20%20%20%20%20%20Gregory/Page1
Corporate Filings for Grillit of The Suncoast LLC
Florida Department of State
Filing Type: Florida Limited Liability
Status: Active
State: Florida
State ID: L14000195611
Date Filed: Monday, December 29, 2014
Does Greg own the ticker and all it's holdings? Why would they appoint him CEO? Are the so called scammers out of the picture.
Also, if there was so much fraud why wasn't this ticker halted long ago. There are a lot of accusations but no action from the SEC. If it was as bad as others say wouldn't we be on the grays.
Greg obviously likes the idea of owning a public traded company. He must have a lot of shares and most likely wants to raise the value of these shares. This is the only theory that makes any sense. If he opens one store and proves the concept he can open franchises all over the country. This takes a lot of money, going to trade shows and being really good at marketing. The big thing in Manhattan these days are salad / sandwich shops. It's like a cafeteria. The customer picks from three different salads, three different proteins that are grilled fresh and then you can pick 8 items from many healthy choices like grilled veggies, fresh beets, different cheeses, tomato, cucumbers, rices, noodles, etc. This is packaged and given to the customer. There are no dish washers, servers, tips, etc. I like this concept since it cuts down on overhead and is quick. A lot of people don't have the time to sit and be served. This concept is taking hold in other food genres as well. Poke bowl and sushi to go seems to be the next big thing too. My friend wholesales food. He is a chef and creates delicious dishes and sell them to restaurants. Then there are edibles. Grillit could do well to open up a factory in Colorado and sell foods that are laced with cannabinoids. Coke is doing this now and just bought a big stake in a little company. There are many ways to revive this stock it just takes creativity, money and hard work.
I would love to see Grillit revived. I think Greg will probably have to do a reverse split to get the shares to a reasonable level.
Do you have the new website address? Maybe Mikey is onto something. Very encouraging.
They don't have anything to account until they revive the company if that ever happens. I'll hang on a bit longer to see if anything happens but not getting my hopes up. I already have taken a loss even if I haven't sold.
I think it's about 5.25 worth of stock.
Any action is nice to see. The dollar value is pretty low.
Interesting. I'll call again. I hope you are right.
I called Fidelity it was a no go. I just have to hope Mikey is right and this POS is brought back to life.
Watching my old PHOT pot stock go up 70% in two days while this dog just lies here and whimpers a slow death. If we could close shop I would have a nice lost to offset my taxes with a lost. Sucks that we are in purgatory.
I hope u are right. I have time on my side. I would love to see this resurrected. Why is the CEO only communicating with you? Do you have any updates?