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GREEN !!!
All my cannabis stocks up now. Green Wave is about to follow! Just bought more!
I started a position on your advice (after doing my homework), and added almost every day since! I am now up significantly so thank you for the tip! Great company.
I started a position today at $4.55, and ready to add on any pullbacks. APHA just gave investors a rare opportunity to start/continue to load up shares at a major discount. This last quarter will prove to be the opportunity of a lifetime for those of you (and me) who missed previous opportunities.
And it is going to get a whole lot worse. I continue to predict that this ticker will vanish overnight and that when it happens, some folks will be very surprised and some won't be. 35% of ALL FOOD PLACES will never re-open, and Snakes will be one of them. They are simply too leveraged, expenses are now killing them, and by the look of it, they and that attorney group were stopped cold on their tracks.
Great format, lousy CEO who hides every move he makes and refuses to inform shareholders in a timely manner. Worse possible business to be in at this time.
WE ARE IN A PANDEMIC FOLKS, AND WE HAVEN'T HEARD ONE WORD.
This is smelling worse and worse by the day...
BANKRUPCY IS LOOMING, IN MY HUMBLE OPINION.
When he is done, another one will take his place. Dilution will never end at FUNN...
There is going to be a whole lot more shares available soon.
Dilution is non-stop now and the value of FUNN shares is dropping as it should.
And now we are dropping under a penny, again...
The FUNN never stops here, and neither do the losses...
Looks like a shareholder quietly dumped 500,000 shares today.
The pain is almost over folks...
BUY THE DIPS!!! ALL THE WAY TO BANKRUPCEE!!! TOO FUNN EE!!!
HAHAHAHAHA
Wow this is turning bad again, and it's only going to get a lot worse.
Dilution is sinking this company and taking loyal shareholders down with it.
48,599,983 shares were sold (diluted) in the 3rd quarter.
Hundreds of millions of shares will have to be sold at current pps to even survive 2 or 3 more months.
In my opinion, this ticker will vanish soon and OTC will show the dreaded red dollar sigh with the word "BANKRUPCY" next to it.
Considering that the YIELD sign is back up, I wonder if the red dollar sign and the word "Bankrupcy" will appear sooner than expected?
Lebron didn't lose 95% of his market value though...
So true.
Some folks just don't understand that the share price, with it's diminished value, poses a major problem for the company. If they have to dilute to cover the notes maturing in the next 12 months, which will most likely happen if they stay alive long enough, they will have to sell 100 Million shares at the current pps JUST TO COVER THEM NOTES, and that's assuming that the pps stays at 0.01 during that ride. Add (your guess) to cover the major shortfalls in operating revenues and the converting preferred and what do you have?
A clusterFUNN of a problem!
Extreme? Ask CNAB Shareholders how they felt when this exact scenario happened a few weeks ago...
Yes, it does happen exactly that way.
There is no such thing as "proof", at least none that would be divulged to the shareholders. This is how it would go:
Folks on this board get up one morning, plug in FUNN on IHub, and....No more FUNN board!
That's it, no warnings, no explanations, no email, no memo, no curtsies, not even an "I told you so".
Then of course, one would go to the OTC Site and there it would be, the most disliked dollar sign, in red with the word "Bankrupcy" next to it.
That is how we would find out, too late to do anything about it...
Funn is not holding and the next wave of selling has not started quite yet. Down over 85% in the past few weeks, so it is taking a short break before heading down lower.
20% of all food service cafes/restaurants Nationwide will never re-open. Another 20% will re-open to take advantage of the ppp loans, but will close shortly thereafter. I am absolutely certain that Snakes will unfortunately fold in the second wave. 85% occupancy is required to break even, and it will be a cold day in heck before Snakes can even come close to 50% occupancy.
The other shoe will fall soon enough...
Bankruptcy will still be the end result in my opinion. Here is the most likely scenario:
They will try to claw themselves out of BK, take ppp loans, and realize that their expansion plans are now busted. They will continue to dilute the crap out of FUNN as they have started doing in the Q2, and at around 1 penny per share, it is not difficult to extrapolate. I believe that Snakes will sink miserably the following few weeks/months and the pps will continue to drift lower, leaving shareholder bewildered when the ticker FUNN vanishes from IHUB...
Yeah, these numbers look about right and we do have to wait, but...
I don't think they can make it till September.
Indeed they DID make a tiny crap profit, but next quarter's loss and the preceding dilution (I predict that FUNN will have to dilute between 150-200 Million shares next quarter, in addition to issuing major paper just to keep the doors opened.
Anyone willing to take a crack at what will happen to the pps?
Their model was succesful and profitable for 33 YEARS, which is a few decades longer than Snakes.
It was so good that I almost worked for them!
Highly successffull cafe chain vs Snakes cafe chain. I say it is comparing apples to apples.
Best and most sensible post today.
I respect.
Best of luck to you Juancy.
48,599,983 shares were sold (diluted) in the 3rd quarter.
Hundreds of millions of shares will have to be sold at current pps to even survive 2 or 3 more months.
They were bought out of bankrupcy because it was a poorly run company. I should know as I grew up in France...Based on current whole company sales, Morning doesn't seem to have added jack crap to the revenue growth, at least not so far. $1.8 Million with all these outfits? What a bad joke to the shareholders!
They were already deeply commited and could not back off, yet. I do not believe that Snakes will be around much longer. The only way for them to survive a little longer, would be to sell their own stock and dilute the company, which they have already started doing. Tens of Milions of shares have been sold this past quarter alone, and they were only closed for 2 weeks! Not to hard to figure how ugly the next quarter will be, if we get to see one and IF THEY ARE STILL IN BUSINESS.
That's true, they also own a bankrupt French game company, a worthless paves company and some machine that they can't even sell a single unit of.
So the more outfits a company owns, the less likely that they will fold?
Now I am happy to have made it through business school...
The massacre has started. Here is the latest victim:
https://www.restaurantbusinessonline.com/operations/33-year-old-specialtys-bakery-cafe-chain-clos
And you guys think that Snakes will fare any better? Specialty's balance sheet was awesome prior to Covid-19. Their cafes were packed and extremely popular for 33 years, and yet.
Some of the best and most established cafes and restaurant chains, as well as independents, are in very serious troiuble and closing. Many are collecting the Feds money, are not paying their employees or rent, and are still closing.
Just like CNAB, FUNN might just vanish overnight, with no warning, and that will not be a surprise.
"Revenues MIGHT come in under $1 Million next quarter"?
They won't do $500,000 because they were closed, and because games are simply not selling anywhere near the hype, and because their other outfits do not generate any income whatsoever. $1.8 Million with 4 "Thriving" businesses"? Is this a joke?
Happy about a tiny profit? How about the size of the receivables? How about the size of the payables? Notice anything here? Millions going out, and nada coming in.
The next quarter will be an absolute disaster that will unveil the true financial situation FUNN is in.
This is all my opinion.
$1.8 Million? Hahaha what a joke, and they won't even reach $1 Million next quarter...
Snakes is toast. Watch out for the big dump coming up!
More "good" hard infos for those who do not understand the restaurant business. I've owned restaurants for decades and I know what I am talking about.
https://video.foxnews.com/v/6148330729001#sp=show-clips
https://finance.yahoo.com/news/27-restaurant-chains-disappear-235352164.html
https://www.bloomberg.com/news/articles/2020-03-19/eating-out-may-never-be-the-same-in-the-u-s-after-coronavirus
Snakes is too leveraged and does not have the financial strenght to survive. It is as simple as that...
This is the group that Snakes belongs to, the 30+%...
https://www.cnbc.com/2020/05/05/jim-cramer-many-restaurants-will-close-under-tennessee-reopening-plan.html
There is no way, not even close, that Amfil will exist in a few months. It is simply IMPOSSIBLE for Snakes to earn enough to survive. Can you imagine a scene at Snakes with only 50% max occupancy, 6 feet between tables and touching board games while eating with a mask on? Seriously, do you really think that customers will walk through the door? I don't think so...
This is my opinion and it sure looks like it might be the correct one.
PS: Let's no be surprised if AMFIL suffers the same destiny as CNAB when the ticker simply ceased to exist the moment they filed for bankrupcy a couple weeks ago...I can assure you that shareholders were horrified...
Probably the most honest post I've read here in a while...
I disagree with your outlook, but I do respect your opinion.
Oh and another thing, let's keep an eye on how many shares they sell to cover some expenses. With a stock price of $0.00875, it will take over 11,000,000 shares to raise a meazly $100,000.
Is it out of line to predict MAJOR DILUTION just to survive?
Yep, they are going down...
Come on now, it doesn't take a genius to predict an unprecedented number of bankrupcies coming up, and AMFIL will be one of them, imo. AMFIL leveraged themselves at the worst possible time, and will unfortunately not survive this ordeal. The lawyers group will find a way to back off, if they haven't already done so.
Restaurant margins are razor thin and only the most established casual dining properties with excellent balance sheets will survive. Snake's cannot and will not survive unless they fill the space as they have in the past. This will not happen anytime soon. Depending on what will happen in the next few weeks, I am predicting that Snakes may not even re-open.
Oh, and forget about the audited 2019's...
2 Million shares for $110,000?
So that represents a $92,000 loss so far, right?
How about a repeat from the past?
The "weak" businesses will die, the landlords of the retail/commercial buildings will fail too, and the very, very wealthy will buy up the properties by the thousands for 20 cents on the dollars. Does that ring a bell?
I don't like it any more than the next guy, but I am not naive. I have lived long enough to recognize this patern, and it unfortunately works every time.
If somehow, by some miracle Snakes survives the next 6-12 months, I may consider taking a new position here even if the pps triples between now and then.
Thank you, that is exactly what I have been saying!
Perfect example of doing the right thing at the wrong time, and being caught with your pants down. The idea was great, the execution passable, and the communication lousy.
The recent stock price action, and the resulting market cap, are reflecting only one thing in my opinion: Bankrupcy. This will come as a shock for many shareholders, but once the flow of money has stopped, young and very leveraged companies like AMFIL find themselves in a rotten pickel stuck between major incoming bills, debt servicing, contract renegociations/or cancelation, major long term social handicap that will create antipathy toward large group of people touching and playing with board games etc...
There is absolutely no way that ANY food serving and board game playing outfits will reopen any time soon and not be deep in the red. Snakes cannot and will not sustain the losses, and the rate at which the stock price is falling is reflecting just that, upcoming bankrupcy.
What's the market cap today?
What was it mid February when hell broke loose?
Yeah, down a staggering 85%!
And of course, this is all my opinion.
Bankrupt!
What a thrashing...Down 65% to 0.0165....7.5 Million shares traded.
Sad day in CNAB land
Down 58% and the bid at $0.0182?
Game over?
WOW down 36% and about to drop to the 2's!!