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$FLCR REAL PENNYSTOCK unlike 99.99% of OTC ACTUALLY HAS A REAL PRODUCT. OWNS A MOVIE THEATRE. Will not be down below 2 cents for long🍾 1000% run COMING💸🔥 $AAPL $GOOG $INTC $AMZN $MSFT $AKAM $CMCSA $PFE $NFLX $NOK $XOM $UNH $HSY $NVDA $MRNS $UNP $BAC $ORCL $WMT $CHK $GLUU $AKS
— Obi (@aaaamhim) December 22, 2017
Hope everyone had a great holiday.
See some twitter posts like this from 5,6, 7 days ago.
$FLCR REAL PENNYSTOCK unlike 99.99% of OTC ACTUALLY HAS A REAL PRODUCT. OWNS A MOVIE THEATRE. Will not be down below 2 cents for long?? 1000% run COMING???? $AAPL $GOOG $INTC $AMZN $MSFT $AKAM $CMCSA $PFE $NFLX $NOK $XOM $UNH $HSY $NVDA $MRNS $UNP $BAC $ORCL $WMT $CHK $GLUU $AKS
Wonder how the progress is going on the sale of property?
Maybe a large drink then
Thanks Wolverine.
Haha. Maybe if you get some popcorn.
Reverse merger. Do you feel like this is a possibility with the theater being upgraded and seemingly in better shape moving forward? The reverse merger seems more likely as the theater becomes less of an albatross, if that's what is hopefully happening with the upgrades and food etc.
Not sure how something like that plays out.
Anything in the quarterly report that might be interesting to look for? Maybe an update on selling property?
Added at 1.50 on weakness. I wanted to squabble for a little less, but I was in a hurry and I usually regret trying to fight for pennies when upside is potentially a lot more than pennies.
Happy 4th!
STAF. Noticed that volume seems to have picked up as the morning went on compared to earlier and to recent.
Congrats on RWLK!
Thanks for posting that.
Funny fridays, a push too far? Wasn't included in the email this week and doesn't appear to be happening tonight from fandango. The next one I see for sale is may 19, and back to $10.
More than the new direction of the company, I was most interested to see the information about funding, as that has been FLCR's biggest hurdle of the last several years.
I am also glad they spelled out so clearly in the release that despite best efforts that last episode with financing is what drove the price down 90% in 5 days.
I've been pleased to see that they have been able to raise the funds to update the website, hire theater employees, and make some of the theater upgrades.
And it has been nice to see those things showing results for the business end of things.
That's funny. I was at .76 also. I lowered it to .75 now so if they drop it more yours get filled first. I wouldn't have found this one without your mention! You've got a really great board here.
STAF. Added back half that I sold at
.96 at .81 on this dip. Have the other half plus out there in the .70s in case.
The evolution of Funny Fridays continues. Admission is now $12 with no concessions coupon, although there is a special you can get by texting.
Proposed and Potential Sale of Property
In connection with the restructuring, a property appraisal of both the leased property and the theater property was obtained. The appraisal estimated the value of our 40,910 square-foot theater building at $2,850,000 and the 18,000 square-foot leased property at $1,450,000. The Company has completed a survey in preparation for the sale of the leased property and is discussing terms of sale with several potential buyers.
It is the Company’s firm intent to sell the 18,000 square-foot leased property in 2017, with a target sales price of $1,200,000, and is currently classified as an asset held for sale net of estimated selling costs.
In February, 2016 we received a Letter of Intent from a real estate developer for an option to purchase a portion of the south end of our parking lot for a proposed mixed-use building, housing retail shops and apartments. At this time, the developer is engaged in preliminary site planning and a pro forma. If this purchase for the development moves forward, it will provide some working capital, or shared leasing revenue, and may improve the value of our remaining property. The area being discussed is about one acre in size.
Future Sources of Funding
Our need for future funding sources has been greatly reduced from our previous projections requiring $1.5 million to complete the original concepts for our “In-Theater Dining” conversion. Our new “Dine-In Cinema LITE” concept will require approximately one-third of this projected capital. The savings from our new “LITE” model come from: 1) reducing the size of the planned kitchen to 25% of the initial plan (estimated cost $250,000), to a smaller space more the size of a large food truck (approximately $30,000), 2) retaining a theater that had previously been planned to be used for the larger kitchen, and retaining the revenues from that theater, 3) leasing, not purchasing, recliner seating, and 4) reducing the anticipated number of recliner seats by approximately 90%, with a strategy to install rows of recliners in selected theaters instead of completely changing out all current stadium seating.
While the new “LITE” concept reduces the Company’s overall need for capital, our rapid rollout of this concept also increases our potential to use theater revenues to pay for improvements needed to complete the theater transition. The Company plans to use anticipated increased rising theater profits to both supplement planned improvements and to ensure that we meet our payment obligations to our note holders
FullCircle Entertainment is now preparing an updated investment proposal for additional individual promissory note investors.
In the future, the Company may also consider sales of Company stock if the market value of the Company’s shares supports this strategy.
At this time, we have no contracts, agreements, or understandings for additional funding, nor can any assurance be given that we will be able to obtain this capital on acceptable terms. In such an event, this may have a materially adverse effect on our business, operating results and financial condition.
Present Sources of Funding
In September 2016, the Company’s new management was assigned the task of refining the theater’s “dine-in cinema” business strategy. At that time, management determined that the Company needed to move quickly to turn around Georgetown 14 Cinemas and create a new direction that could excite and secure new sources of funding.
Previously, when FullCircle Entertainment experienced revenue shortfalls, the Company’s issued stock to pay certain vendors for services in lieu of cash payments. Management has determined that using stock in lieu of cash for vendor services is a practice which needlessly dilutes current shareholder interests.
Instead, management sought other sources of funding. Initially, the funding burden fell solely on the Company’s founders and Board members, who once again stepped forward to provide funding in the form of loans represented by promissory notes. The Board has also assisted in presenting FullCircle Entertainment’s “Round One” investment proposal to individual promissory note investors, principally from Kentucky where the Company is headquartered. These promissory note investors receive 6.25% interest, compounded annually with interest to be paid quarterly. Payment of the interest on these promissory notes is a line item in FullCircle Entertainment’s budget, which is prioritized to provide timely interest payments to our investors. From September 1, 2016 through December 31, 2016, FullCircle Entertainment received $91,942 in funding promissory notes from our founders and $50,000 from other individual investors located in Kentucky.
Past Sources of Funding
Prior to 2010, when the Company created FullCircle Entertainment, the Company’s funding came from sales of the Company’s stock, loans from shareholders, loans form Board members/major shareholders and other debt secured by the Company’s Board members/major shareholders as guarantors.
On January 3rd, 2015, we issued a put for $100,000 to Kodiak Capital under our Stock Purchase Agreement with that firm. During the subsequent five-day trading period our stock dropped from $.0465 to $.0035. Consequently, the put price of our shares was lowered to $.00391, which provided only $47,500 in funding. Based on this difficult situation with the market price of our stock, and the effect of possible short selling activity, the Company refrained from further funding requests from Kodiak Capital. Our arrangement with Kodiak Capital expired on June 30, 2015.
7
In July, 2015, we entered into discussions with Local Initiatives Support Corporation (“LISC”) for the purpose of receiving funding assistance for the business model change of our theater in Indianapolis. The funding from LISC never materialized. LISC’s funding model focuses on helping build local communities by working with Community Development Corporations. Their various forms of funding include a limited number of grants, but are mostly debt instruments Combined with their general lending focus on working with community groups, not individual businesses, LISC proved not to be a good match for FullCircle Entertainment. Their review of our funding request determined that the Georgetown 14 Cinemas net revenues could not support an additional debt burden. However, there may be future opportunities to seek funding from LISC for specific purposes, such as a façade grant when FullCircle Entertainment is prepared to do exterior renovations to the Georgetown 14 Cinemas.
Implementing New Operational and Strategic Plans
At the close of 2016, the Company was prioritizing the implementation of several strategies:
·
The planned launch of our new “Cinema Lounge” food service, the first phase of our Dine-In Cinema LITE strategy, which has since been implemented.
·
New organizational structure to add senior staff positions as well as concession personnel. The theater has been running very lean during times of poor performance. The pace of increased ticket sales toward the end of 2016 has shown the need to add employees in order to assure quality of service.
·
Repair of digital projector systems, which began in late 2016, has been completed. We once again have all 14 theaters back in operation after approximately three years of neglect due to limited financial resources.
·
The additional theaters have permitted resumed presentation of films from India as well as Spanish language versions of popular Hollywood films. Offering multi-language films and hosting multi-cultural events to target the local demographic is a key part of our future strategy.
We plan to offer updates to shareholders on the success of our Cinema Lounge food service as well as other strategic improvements on www.fullcircleregistry.com and through Press releases.
Link to 10K: FLCR 10K
Nice job with STAF. I was looking to do the same with the shares I sold yesterday but it got away from me.
STAF. I appreciate your timely post. I was on the fence whether to sell some. Felt reckless not selling a portion going into earnings when stock up so much. Ended up selling 40% at the end of the day.
TEAR potential reversal. I just came to say the same thing. Nice move back through 2. Will be interesting to see if backtest of 2 holds.
TEAR. Falling knife. A lot of guys trapped on way down.
Apparently unlimited shares available at 0036, fwiw. Who knows if that's a good price, but there was 155,000 on ask at 0036 and blocks of 155,000 and 200,000 went through without putting a dent in it. So if you've been considering building or adding to a position, know there seem to be a lot there.
STAF rejects buyout ("significantly undervalues the Company"):
NEW YORK, NY--(Marketwired - March 27, 2017) - Staffing 360 Solutions, Inc. (STAF), a public company executing a global buy-and-build strategy through the acquisition of staffing organizations in the United States and in the United Kingdom, today announced its rejection by the Company and its board of directors (the "Board") of the recent proposal by Jackson Investment Group to purchase all of the shares of Staffing 360 Solutions at $1.10 per share.
"We truly appreciate the support of Jackson Investment Group and the words of confidence in our management team contained in the letter," stated Brendan Flood, Executive Chairman at Staffing 360 Solutions. "However, we believe that the offer significantly undervalues the Company and would not be in the best interest of the Company and its shareholders."
....Will be interesting to see what happens from here...
Funny Fridays are going very well it would appear.
Note that in the email/advertisement for the March 3 showing <link back> it cost $7 with $2 in concessions. Also it mentioned Drink Specials and Gourmet Chef's Kitchen. Also note that it said that Funny Fridays would be every other week.
Now, in the new email/advertisement for March 24, just three weeks later, it highlights that the cost is now $10 with $2 in concessions and it is now EVERY week and they included a special note saying to hurry to avoid it being sold out. Also, in addition to Drink Specials, the new email mentioned Full Cash Bar.
Sounds like they have found something that is working.
STAF. Was able to get a chunk this am. A lot of hidden selling. Funny how mental stocks are. Been trying to get a chunk for a while, and got it cheaper than I expected. But instead of being happy, mind goes straight to okay what's wrong with it and someone obviously knows.
Someone selling. And more shows out there than what is showing just in case this info helps in some way.
GV. Also note weekly rsi 84.
Thanks for the update. Looking forward to seeing that.
I was always so worried about what would transpire if something ever happened to Norm, but definitely so far so good.
It's nice to want to check in on FLCR daily again.