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How_About_Demanding_A_New_Competent_CEO_with_Franchise_and_Restaurant_Experience?
oh, wait - no can do since current FUNN execs are the majority shareholder and can continue to pay selves for poor outcome and execution.
Wake up smell the coffee.....or in this case.....the stench?
Covid Did Happen - and Takeout Boomed - for many but NOT FUNN
Takeout became an important source of revenue for most restaurants - if they wanted to stay in business - and if takeout was already a portion of their business model.
For Board Game Cafes - takeout is not really part of their business model.
Bad fit.
No product differentiation between an S&L burger vs. beast burger.
FUNN Management thought it was grand idea LOL
FUNN didn’t even get name of cafe listed on Least Burger website
Never close to getting started
Exactly like the outcome of those MJ kiosks
FUNNEE how faux opportunities never pan out, eh?
That's what happens when one listens to heresay and or rumor
Mr. Least burger was never a good idea for S&L board game cafes.
Board game cafes aren't known for fine cuisine.
There was really no significant product differentiation between S&L hamburgers and Mr. Least burgers.
Mr. LEAST. BWAHAHA
Hey Those Two Player Bidets Are The Key for FUNN Success
FUNN can prove they are Green by converting to potable water too.
We'll be awash in cash
Bwahahaha
Right Now FUNN is Using Bad Model of Expansion
Right now, they're still sucking from the management side.
Right now, they are still operating cafes that are LOSING money.
Right now, they are relying on US and Canadian tax payers in the form of PPP loans to survive.
And, it does matter if FUNN continues bad management practices.....Today. That hasn't changed
or "how about dem auto generated customer reviews, awesome, right?"
it means each cafe is filled to brim 24-7, tables are being turned over every 30 minutes, and demand is outstripping supply for game cafes.
Millions being served every day....maybe billions
No, I'm not exaggerating or being sarcastic
Hey, where are the financials for the new VA Beach anyway? By quarter?
How much are the losses? What is exact amount of $$$ was the note? what are exact terms. How many years? what is monthly payment?
Butt_Current_FUNN_Execs_Are_The_"Best"_And_Reward_Insiders_Regardless_of_Lack_of_Positive_Net_Profitability
Yes, I'm being sarcastic
I agree. FUNN management suck and self serving. They don't appear care about minority sh.
They don't appear to care about the company.
They don't appear to care about moving towards positive net profitability.
They don't care........
Oh several thousands served in total over 7 years? Not very good
Beahaha. Guess sarcasm was missed
yeah yeah "millions" served RFLMAO
ZERO Proof of repeat customers - Most Customers Could Be One Timers
One suggestion is to close down 1-2 money losing Toronto S&L cafes - and create a situation where Demand is greater than supply. That way, you have 1 Toronto cafe headed towards being positive net profitable.
FUNN Is Simply Poorly Managed
They've poorly managed assets
Poorly managed opportunities
Poorly managed operations
Poorly marketed the company, private or public.
Early on, FUNN was successful in creating; what ended up being a false narrative, about potential and opportunity.
That's when there is a lack of execution. Literally, only 1 business opportunity was viable - the S&L cafes. The rest were smoke and mirrors.
And, now, minority SH are in so deep from years of being scammed - that they hold onto their massive losses - and pray.
The only way FUNN survives going forward is if they
1. Secure a massive low interest loan that will pay for:
5 years of a CEO with experience in the restaurant biz AND Franchising
5 years of accounting services for unaudited financials
5 years of audits
2. close down Provo, ChiTown, and 1 or 2 Toronto cafes. The rationale for closing down 1 or 2 Toronto cafes is to get rid of the biggest money losers for those 3 sites AND Create a situation where there is greater Demand than Supply. We are not talking rocket science here.
3. a big enough of a loan to open 2-3 cafes that corporate can own and cover operational expenses for the first 5 years of operation. The other option is to approve more common shares for fund raising; which will pretty much destroy current Minority SH value.
FUNN needs to cut expenses - especially for payroll.
FUNN needs to find a way to turn tables over sooner than 1x/2 hours
FUNN may need to increase patronage by introducing other forms of entertainment that will draw customers into the cafes - showing college sports and merchandizing to local tastes.
FUNN is in the restaurant biz.
Sell Food
Sell Alcohol
and Entertain.
Again, since they have pigeon holed selves only in board games - they will need to turn tables over sooner - or find ways of getting those customers to purchase more food/alcohol per person/per group for those two hours of time.
Only FUNN knows (or they should damn well know) how many tables need to be filled each day to turn a profit. They should know those numbers for each site.
TLRY Bought HEXO's Massive Debt And Operational Losses
I'm not sure how the acquisition will move TLRY into being positive net profitable.
Just look at this crap in PR
4/10/23
https://www.businesswire.com/news/home/20230410005360/en/HEXO-Corp.-Announces-Acquisition-by-Tilray-Brands
WTF?
MNMD is still in the crappa
Most are disappointed.
Big money is gone?
It may be 2 years from now before this stock sees any real activity. They need to accelerate FDA approval.
That's the problem with binary stocks
hexo was bad news a year ago. Still bad news
Gro3?? ROFLMAO BWAHAHAHAAHAH
Gawd...that was ages ago. A unit was allegedly sold to Verdi; which I highly doubt because I don't see where the gross revs from that "sale" was reflected in any unaudited financial.
That was the funniest post I've read.......RFLMAO
oi.......let me catch my breath....lol
that ship sailed such a long time ago......lol
that was another example of PR....and no execution. Much like MJ Dispensary in Ontario. There are millions of those kiosks in Ontario now, 10 kiosks in every mall. Millions served.
11/13/20
https://www.globenewswire.com/en/news-release/2020/11/13/2126509/0/en/Amfil-Technologies-Inc-Announces-Purchase-Order-for-Another-GRO3-Antimicrobial-System.html
The Alleged 10 inked Cafes Failed
That was a FUNN experience for minority SH
ROFLMAO
1/21/20
https://m.marketscreener.com/quote/stock/AMFIL-TECHNOLOGIES-INC-120787605/news/Amfil-Technologies-Inc-Inks-Deal-To-Bring-Ten-New-Snakes-Lattes-Locations-To-The-USA-29868308/
ROFLMAO Well that's not true - link to a FUNN PR?
Non-Convertible Promissory Note with 5% Interest
No specific terms of the Promissory Note was provided; in terms of amount, payment terms, length of time.
FUNN also revealed absolutely zero financials on Roll With It - which is always a red flag for me. They very well could be losing money - or was on the way to bankruptcy.
https://www.otcmarkets.com/stock/FUNN/news/Snakes--Lattes-Inc-Acquires-A-New-Brick--Mortar-Location-In-Virginia-Beach-Virginia?id=393691
There_are_100s_of_cities/college_towns_better_suited_for_board_game_cafe_VA_Beach_Ain't_One_of_them
What Exactly Are Financials for Roll The Dices Cafe?
does the roll end up with snake eyes?
VA beach is a dump, high crime area, very transient population.
More Bullshyte
Rogen was supposed to only make money when new cafes came into operation. He opened 0 of 10 inked cafes.
And, boy, did he get paid......at a rate of $300k/year for 6 months as acting CEO for successfully opening 0 new cafes.
Agreed At Bottom is Utter Bullshyte and misinformation
All one has to do is look at their continued net losses.
For the last Q, they would not have been positive without the loan forgiveness; and declaring as "other income"
From Funn Unaudited financials
Clearly, FUNN is surviving on backs of Canadian and USA taxpayers. What can they do on their own????
They have to get rid of ChiTown, Provo, and 1 or 2 money losing cafes operating in Toronto
AND
reduce payroll
AND
turn over tables faster than 1x/2hrs.
Read and weep.
Below is Utter Bullshyte and misinformation
More Misinformation and Utterly False Narrative Below
Rogen is the one who said audit financials were contracted and to be completed. When he left, fun execs said......nope....too expensive....ROFLMAO
Rogen also did no such thing as automating their POS system as related to creating unaudited consolidated financials. FUNN is still implementing new Accounting SOPs for 7 straight years now? that Quicken package did nothing....lol
Stronger than ever????
Lol. Oh, my.
Maybe after FUNN sheds Provo, ChiTown, and 1 or 2 money losing Toronto cafes.
The VA Beach acquisition is an unkwown x factor since financials weren't provided. I lived in VA Beach......it's a transient population with police cruisers up and down the main drag throughout each night.
100's of more suitable college towns/sites to tap into.
Random Predictions and misinformation like below????
not really. How much is owed? The State of AZ has a lien and likely added penalties.
How much are their monthly payments?
When will the payments end?
Kind of important for minority SH to know that there will be no positive net profits until the liens are resolved.....and payroll be reduced.
Cost of goods are rising because of the rise in costs for food/produce. That ain't gonna go down anytime soon
Tempe/Tucson Still Have Active Liens Against Them?
I wonder why Funn execs are hiding details?
Virginia Beach Is A Very Transient Population
A large population of military personnel. Lots of police cars cruising up/down main streets.
Virginia Beach is kind of a dump.
I lived in the area for several years.
The great part of the about the new acquisition of Roll With It, is that there's a Dave & Busters right at the Mall down the street for folks to have real fun.
lol
Not much price movement today. Kinda weird.....but then again, was overbought yesterday. Normal to see things pull back.
Core Concept is fine - but is it enough?
People have been stuck inside at home playing board games. Most of the video gamers/board gamers/role playing games that I know of prefer to host in own homes, eat better, play for less.
With COVID being a non factor at this point, FUNN really may need to do things to attract more than just a board gamer to generate more money at other tables who are playing billiards, video games, etc.....and yes, axe throwing just to be different.
Sell more food, sell more alcohol, turn tables over faster?
Technically In Good shape. 0.01 in Sight?
running into a bit of resistance at 0.008, but has stayed above 50 day MA since 1/5/23.
The 200 day MA of 0.009 will be something to watch in coming weeks/1 month.
Golden Cross in the works?
Hopefully, FUNN execs PR an actual realistically achievable action plan; which includes the shutting down of money losing cafes in Provo, ChiTown and at least 1 money losing cafe in Toronto.
They need to generate more revenues per cafe, and reduce payroll costs. Nothing they can do about inflation on produce and meats.
Also need to be concerned about the 2 hour table turnover rate.
Do they also need to bring in other forms of sports/game entertainment. Showing college/pro sports games, include billiards, darts, axe throwing and some classic video games at bar?
2/24/23
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171287600
Same Management Since 2013ish?
Had their run in 2016.
So, maybe never?
The only and last thing that turned out so-so is the acquisition of S&L on 3/31/2016.
Since 3/31/2016; literally ZERO wins.
That was almost 7 years ago.
ROFLMAO
just my opinion. they need to shut down Provo, ChiTown and 2 cafes.
Focus on Tempe, Tucson, and 1 Toronto cafe. Bring them to positive net profitability. Reduce payroll as best as possible. Pay off active liens.
Secure a 5 year, low interest loan that will cover cost of real ceo, accounting, audits, and hire commissioned franchise salespeople.
File audits. Sell franchises.
So The Answer is No - No Action Plan Whatsoever ROFLMAO
No actual proof of any kind that they are "executing" faux action plans
bwaahahahaha
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171301571
Exactly What Are They Trying To Accomplish? Are they Executing? Link to PR or financials that prove?
Bullshyte that update should have occurred October 2022 when they released FYE22 unaudited financials. There should have been a shareholder meeting back then.
Almost 9 months into FY23, and minority sh are getting shyte on every day by funn execs.
That update is 9 months late.
Patience????wtf?????
bottomed out in dec 2022 0.01 is certainly reachable and is next ceiling of resistance
that being said, funn execs need to get their shyte together
They still need close big money losing cafes - provo, chitown, and 1-2 Toronto cafes.
The alleged acquisitions of 2 bankrupt board game cafes from 2021 is very, very unlikely to ever occur. FY23 is half over and were almost at end of FY23Q3.
So, 3 quarters into FY23 and FUNN execs have yet to reveal a realistic action plan to keep minority SH in the loop.
That's a willful act.....they're shytting on minority SH every day
Wrong FUNN Is In A Much Worse Position Vs. 2017
Very Little Cash In Hand - unable to open new cafes
No partners
Can't obtain a low interest SBA Loan
Can't Franchise
No Shares to acquire business
Losing money every day
Management pissed away all of their "money" on bullshytty "ventures" - NONE OF WHICH SUCEEDED - AND THEN REWARDED THEMSELVES WITH MILLIONS OF $$$$ WORTH OF PREFERRED AND COMMON SHARES.
If they had solely focused on the cafes, completed audits, and sell franchises
we certainly would have been in a better position today than let's say....2017
Clearly, Miinority SH and FUNN are in a much WORSE position than 2017
more crucial to close big money losing cafes in Provo ChiTown and Toronto
since FUNN has no partners, not much cash in hand, can't get a SBA loan.
The only way to raise cash is to authorize billions of additional common shares; which will dilute current minority SH pps value.
BullSyte About Reducing COGS - FUNN needs to Reduce Payroll and Rent
Costs of ingredients have been RISING for the past couple of years. Meat, chicken, vegetables. Chicken wings are twice the price of thighs; which is why wings were removed from menu? Avian flu is publicly known, resulting in very high egg prices (as an example).
Prices are +40% for eggs, +27% for butter, +25% for flour, +17% for lettuce
In order for FUNN to become operationally profitable, they need to reduce their #1 expenditure = Payroll Related Expenditures at $990,000 which is up from $900k for FY23Q1
OR
raise prices
and/or
turn over tables much faster than every 2 hours.
RS May Have Been But Additional Authorized Shares Was Not
They had plenty of cash in hand. The decision to authorize new shares pretty much destroyed minority SH value.
FDA approval is 2 years away??