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All I know is that this company ran several businesses into the ground due to poor management. I have no idea if it was a fraudulent act of just poor management. Have any of the officers been convicted of crimes? Can you provide links?
The bright side is that they still have a market maker and are not a grey stock.
Greg should first buy this page and take control and start putting out news releases that the company is restructuring. The economy is good so now is the time to raise capital. He needs several rich buddies to put in the money needed. If I was Greg I would work on a concept that is fool proof. Maybe keep it to 10 items and do those items really well. There needs to be procedures in place to make the experience easy to replicate. This stock is very, very risky but u never know.
CEO is a nice title and I hope it all works out. I'm wondering who the current owners are? How will Greg raise money to open restaurants? I don't think this ticker will be able to raise money. I would feel better if someone with deep pockets bought the company.
Chipolte has a limited menu but their food is fresh, tasty and you can get healthy food if you choose wisely. The interiors are too industrial, not comfortable and cold. There is also lots of ocmpetition of cafeteria style Mexican food. Panera's interiors are warm and fuzzy but their food doesn't taste fresh and they are cheap with portions. I also hate how everyone stands over your food while they wait for there food for pickup. The flow of the restaurant and decor can be a huge asset if done right. We go to a Thai place that is painted all white inside with maybe two pictures on the wall. There is no atmosphere. It's not inviting at all, the food is good but.... we have other restaurants where the food is great but these places are dumpy and dated so we don't go too often. There is a lot of competition in this space and to garner a customer's dollar everything must be stellar. Great food, an inviting interior and friendly, quick service. It seems too easy but many restaurant owners are just too lazy or incompetent to get it right. In my area where the average family income is over 100k the scope of great restaurants is very limited. Surprisingly the big chains restaurants have average food. Instead of hiring a chef for 100k a year who knows what they are doing they cut corners and higher cooks instead. We stopped going to our local restaurant for lobster and salad. The salads were horribly over dressed and the lobster was over cooked. I was in there the other day for a sporting event and complimented the waitress on how great the salad dressing was. They only have one dressing. Anyway, she told me they hired a new chef who is training the other cooks. The food was much improved. This restaurant is now back in our regular rotation. I just don't understand how the multi-million companies can cut corners on the guys who are making the food and ultimately make or break a restaurant. This makes no business sense. Yes they are dong well but I believe they could do way better with a better product. If the new owners are listening. Hire chefs not cooks, hire friendly staff who are outgoing, happy people and make the decor amazing. Then get a hands on manager who can crack a whip but also make the staff feel like they are part of a family. Now get to work. I loved the concept so much I bought into this pig. I should have stayed with pot stocks. Anyway, the lights are still on so their is hope. Yes this company screwed up. The owners could have made 100's of millions of dollars by just following a few simple rules, to have discipline and integrity. Obviously, the past owners were incompetent and screwed up. People get 2nd chances so lets see what happens.
Does Mitchel own the company as well as being the CEO? I'm guessing Mitchel loves the original concept and still wants to open a restaurant using the grlt name and why not make it public when the share price and total market value is so low. Once he opens the first restaurant and tweaks the concept he can then start selling franchises or better yet open up more company owned restaurants. I live in NY and I can tell you that there are no restaurants that come close to offering the menu that the original GRLT offered. There is a HUGE need for a restaurant that offers fast, casual, healthy food with more options than say a Chipolte. And you can't even put Pandera bread in this category. 15.00 buys you a dry sandwich, with funky tasting meat and a soda. Their soups are OK and deserts are really good. The atmosphere is stellar.
Ghazi was the CEO. Unless he bought those right it would be held by the company. It makes no sense that the company the guy works for sells him the rights to the concept. And for what compensation? I don't ever remember seeing that press release. Love to see it. Also, the type of toxic debt you are talking about it an equity investment. When the Miami restaurant was up and running they might have been able to secure such a loan. However, there was a 2nd attempt to buy several other restaurants after the Grillit mother store went under. I find it hard to believe any venture capitalist would have given out a loan to a company with a depressed stock price and no assets. Makes no sense. Has anyone filed charges against he officers of GRLT. Were they outright criminal or just stupid?
I thought Ghazi was brought on to run the company and was the ceo. I don't remember any press release(s) stating that any of the GRLT intellectual property was handed over to him. Do you have a link or press release that states Ghazi took control of the Grillit concept. I see no reason why the company would do that. Also, you use the term toxic lender. The loans are only toxic to the lender if they don't get paid. Toxic debt refers to loans and other types of debt that have a low chance of being repaid with interest. Toxic debt is toxic to the person or institution that lent the money and should be receiving the payments with interest. The second major element that makes a debt toxic is insufficient collateral. An investor purchased the loan, which was supposed to be safe from default, only to find the borrower could not repay. The investor, typically a bank or mortgage company, forecloses on the property. The value of the property has gone down to a point where it can no longer be sold to cover the loss.
Why hasn't these toxic "lenders" force GRLT into bankruptcy and have the court sell any assets that the company has such as the ticker. If the owners did get financing they may have put up their own private assets which was lost in this debacle. Lots of things don't add up but this stock is not where it is because of toxic lenders. It was poor management and perhaps a pump and dump. If these guys are as bad as you say and they may well be why have they not been indicted or sued by some of these lenders. Like I said there is a lot missing from the picture. As long as the lights are on there is hope. I remember PHOT. I bought at .03 sold a bunch at 72 and a bunch at .55. That company went to the grays and was being sued by every person under the sun. They restructured and are trading millions of shares a day and even hit. .04 they other day. Never say die until the lights go out.
The truth is that no one knows what is brewing, if anything. As long as the ticker is active there is hope. The ticker is an asset as is the concept of fresh, fast casual food. The company did have one very successful restaurant in Miami. I felt the whole concept was and is brilliant. There are many great reviews on Yelp and FB. That is a fact. I don't know the full story but my thinking is that the Grillit concepts was probably started by hard working investors who understood the business. At some point management must have changed and then things began to unfold or the business was sold. The company was basically giving away franchises at one point that is when I knew things were troubling. GRLT needed better management and consistent leadership. The name, ticker and concept is very much relevant. I live in the east and in my area that are no such restaurants. If one was to open with a great chef, and proper management the concept would be very successful. Investors felt prey to the notion that they would open a franchise with an up and growing company. Almost like a young Chipolte or Starbucks and then there wasn't any support.
I could see some rich dude who loves the concept take the helm and get things going again. Way stranger things have happened. Debtors would rather hold on for some of their money back then lose it all. If Grillit could clean up its books and start reporting we would be on our way. 10m in finds would be a good starting point.
Dumping! Who is buying. I don't think any lenders are dumping. I think they have written any loans off as a loss and have moved on.
Sure hope you are right. But why 3 years? I'll jump on the bandwagon. It can't hurt.
A few hundred dollars. I hope you can tie it up. Why would the "new" ceo confide in you. What makes you special? And why will it take two or three years to get this up and going? This doesn't make sense. If you said 8 months, ok but 3 years. A lot can happen in that time period. Any lender who has lent money to this company has probably already taken the loss. There are no stores, no equipment, nada. There is the ticker and the original concept. I'm thinking the ticker might be worth 200k but I'm just guessing. If they want to revive this ship then they have to open restaurants, make them successful and then open more restaurants. We are talking 500,000 minimum to open one restaurant. I would love to see this stock go to the moon and back. I lost a lot of money here. I made huge dollars on other tickers so I understood the risks going in. I can tell you that if you did buy shares you will be stuck with them. I had a market order for over a month with not one transaction. I want to drink your cool aid, believe me but you are wasting your time. This stock is dead unless there is something to get excited about. They would be better off opening up a restaurant in Colorado that infuses cannabis with food. Owning a restaurant takes blood, sweat and tears. You can't do it solely for the money. You have to care about the food and service, have some pride and believe me if the previous clowns had used common sense this stock would be much higher. They took what they could and ran. Sad but true. Lots of doubters here and watchdogs. You are better off waiting for a stock market crash which seems likely. Look at the charts. Anyway, when the big sell off comes and it will and it will be ugly as hell buy Amazon you will definitely make money over the next few years. The big stock boys count on people's greed to run up stocks make a lot of money, sell and then steal your money buy going short. Wallstreet is a sneaky game but it is always the same. Pigs get slaughtered.
I hope a 1k purchase will not convince anyone. Maybe 25k might peak some interest.
Someone was buying millions of shares last week.
At one time Grillit had a successful restaurant that was located in Miami. The reviews were very favorable (https://www.facebook.com/FreshGRILLiT) at some point I guess the owners were enticed with going public and maybe the original owners sold. I really am just guessing but there were franchises that opened and there was a successful restaurant so that was not BS. At some point management stopped caring and the restaurant and concept went into the dumper and the stock sold off pretty hard. Grillit was a great concept and there is no other franchise restaurant that I know of that comes close to offering healthy food with the unique selection that was offered. There is also a ticker that tries to trade. I'm sure there is lots of debt and we know that the share count is in the billions. I think the last time I looked Grillit was valued at about 366k before any debt. That is the outstanding stock. I'm thinking it must cost a few hundred grand to get a ticker up and running so the stock price is probably at where it should be. I'm interested to see what new management can do. This Mitchel guy has a hard road to travel. The company needs funds, management, and the discipline to make it all happen. If there is a lot of debt then I see no reason why anyone would get involved. Some one is sitting on a billion shares thinking of ways to get the stock price up. Lets home this is not BS. I have nothing to lose since I can't sell the stock at market price anyway. New money will not come into this stock unless there really is something to get excited about. I don't think several posts from a forum member could ever move a stock. A pump and dump would require lots of money and this company is short on funds so I don't think that is what is happening. If it is this is a very feeble attempt. We will see.
Why not wait and see what happens? Stock holders have nothing to loose.
5 years ago my stock was worth 30m dollars. Timing is everything.
I personally love it. Lets see what happens and give the new regime a chance. Not sure if he is even invested. Not sure why he is the watchdog but I guess it all evens out.
I don't see a press release. No offense but posting on this forum is not news just rumor. We need a press release to say the news is out.
We have volume and the share price is improving so we need to be patient and see.
I hope all the information you posted is accurate. I would love to see a revival. I can't imagine that opening up several restaurants which failed only left a 10k debt. It will cost 500k min. in my estimation to open one restaurant. We will see. Saying he has 10k invested is really pocket change in the scheme of things. I have more that that invested.
I checked out OPUS. They look like a large multi-national company. Are the scam artists gone that you were posting about? This seems like a big company with lots of resources. They posted revenues that were in the 100's of millions? Maybe they want to revive Grillit and like to idea of being a tradable stock to raise money. A smart move is to open one concet restaurant, get it right and then franchise across the nation.
The only assett that I can see is a tarnished ticker. Not sure what that is valued at. There is no brand, no restaurants, and lots of debt. I could start a similar concept tomorrow and raise capital. There have been too many failed attempt for any lenders to hand out more money. So we will see what happens. Very skeptical.
That is a great sign..VOLUME!!!! I wrote this stock off as a loss but if what you say is true then there is hope. Did the new owner buy the name, ticker, and debt? Seems silly that he would buy the debt unless it wasn't more than it would cost to start a new concept and ticker that was similar. I don't think we are going to get new investors until there is documentation and action. Words are so cheap but us bag holders have nothing to lose. Any idea what it cost to get a new ticker on the pink sheets?
Very well said. I totally agree with everything you wrote. Time will tell if this Mitchell fellow follows through and can get the financing to revive the Grill-it concept which was spectacular yet miserably executed. I can't think of one restaurant that even comes close to the offerings from the Grill-it menu.
One thing that always surprised me is how little the big chains give credit to the average American consumer. They hire cooks not chefs. If a typical Friday's is doing 2-4 million a year per location, why not hire a new chef out of school to make sure the food is executed properly and not just cooked and thrown on a plate. There is too much poorly crafted food in the restaurant space. The recipe for success is not that difficult.
1. Negotiate an affordable lease
2. Create atmosphere in the restaurant
3. Excellent service
4. Excellent food
5. Fair prices
6. Keep the restaurant clean
7, Know how to buy product
8. Do 12 items right instead of 24 half ass.
9. Hire good management to do quality control and to create an experience for the diner.
I thought we were dead in the water so lets see what happens. Once again the concept is amazing, the restaurant in Florida was incredible. There is an open Grillit on FB. Is this our little gem: https://www.facebook.com/GrillitNewbridge/
All the restaurants you mentioned are not in the same league as Grillit's menu when it was active. They had lots of unique and healthy dishes.
While the past owners were terrible the concept and restaurant that launched the idea was spectacular. Millennials and just about everyone I know want healthy and tasty foods. I hope this works out.
I have about 11 million shares so I hope so. It's nice to see some volume. If this company goes legit and says sells the ticket to a reputable company how does that said company gain control of this page? Just curious?
When did TRTC have a reverse split? How was it structured? Thanks
Market cap is crazy for this stock and they are burning through cash like nuts. They will continue to issues shares and dilute stock value or take on toxic loans. There is a lot of competition in this space. Once there is legislation that make it legal on the federal level the big guys will swoop in and take over. There are better plays than this stock.
New cars, houses, clothes, electronics, not that hard to wonder what.
The chart doesn't look good. Lots of bag holders will be dumping when the stock hits 3.00 again whenever that is.
If there are no buyers or market makers u can't sell.
Tried to sell 5k shares at market but no takers. Thinking the transactions last week were buys.
I doubt it. It must be a buy and not a sell. I couldn't sell my shares after weeks of trying so I have no idea how 30m shares could be dumped when there is usually no volume. I think if someone has level 2 that can tell if it's a buy or sell. It amounts to about 3k of stock.
We need a trading platform for bitcoin or litecoin to take over the ticker.
There are no buyers so not sure how they were able to sell shares. I tried selling. Market orders don't execute.
I agree with everything you said but PLUG is also losing money at an alarming rate and owes money. There are two scenarios. Dilute the shareholders or take on more debt at crazy high interest rates as they have already done. I can sell anything and lose money but that doesn't make it a viable business. The CEO keeps promising profitability but then misses his own forecasts. Not all is rosy. If the market sells off as it's ripe to do then this stock will follow suit all the way down to a dollar. There are risks. New technology could make this company obsolete. You just don't know. My feeling is that they will continue to add customers and continue to burn through cash. At some point they will become profitable but there margins are so low that I'm not sure how much this company will scale.
Taking some off the table. In 2009 I went in to all cash and we had a huge market sell off to 6,000 on the DOW. I bought as the market fell. I feel like the market is ripe for another sell off. The president has been rolling back regulations and promising a huge tax cut to corporations. I don't think the tax package will pass which could be the catalyst to the downside. The tax plan will add more than a trillion dollars to the deficit and create hyper inflation. Giving corporations a tax cut when they are making more money now than ever in the history of the usa is not beneficial to the millions of hard working Americans in this country. It would be political suicide for the republicans. Now factor in the Muller investigation which is a huge distraction for the administration and criminal charges are being handed out to those who colluded with Russia, perjured themselves or were a party to other illegal activities. We also have a market that is acting in an irrational manner. Look at any chart that shows a top there is always a surge upwards right before the biggest fall. Look at some charts from now and in 2009 right before the big collapse. Yellen came out and said that the stock market is frothy. I feel we are ripe for a huge sell off of 50% or more. I could be wrong but a sell off of even 20% would be healthy. Remember it's not what you make but what you keep. If that happens I see this stock hitting 1.50. We shall see but pigs get slaughtered. What goes up comes back to earth at some point.