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Not much of a risk IMO. If they don’t have a backstop, they will probably have to cancel the offering and you would get your money back.
Or they raise enough for some expansion but less dilution that if they hit the $5M raise.
Endless blocks?? One of the major complaints about this stock is the lack of volume.
You didn’t get shares. You got rights to buy shares.
Yet nobody is selling...
I think we run next week
Where’d you get 1.6B from? TA just told me it’s 1.1B
Because the offering would have been cancelled.
If the Bulls kept Michael Jordan on the bench every year, it would have technically been 'the same team'. But they won championships by putting him on the court.
Philip Gay now has the ball - same players, different result.
I’m still here. Next filing will dictate whether or not I remain.
Who said you can’t sell them? I didn’t see anything about restrictions in the offering.
In TD Ameritrade go to your gain/loss tracker and you will see them.
You may have to call in order to execute an order.
They are rights to buy shares at the set price of .03. You have until the end of the month to exercise your right to purchase.
When you do so, you would then own shares that you can sell. You would also own .7 of a warrant. One warrant allows you to purchase shares at a set price of .06 per share.
The benefit is if the stock were to hit .10 before the end of the month, you could still buy shares at .03 and get warrants at .06.
The rights that you see in your account simply tell you how many shares you’re able to buy if you choose to do so.
Is this helpful?
If he owned 5% of the company, he’d have to file. Less than that isn’t that substantial and obviously would give voting rights.
Ready for more filings showing positive numbers to get this thing going!
Neither Phil or John own a significant amount of shares or we would have seen some filings.
Aren’t warrants exercisable at .06??
Agreed. GIGL getting the band back together! This is going to be fun.
I might be wrong. But the article I read said they owner 205 of the 265 locations.
I believe at the time of the CPK sale, they had 60 franchises.
Well if today each store is worth .02 and we double the OS, then they’re worth .01/store.
10 stores = .10/share
But with growth, other revenues, possible share retirements/but backs, future outlooks, etc... that’s way undervalued.
Bingo! So many seem concerned about daily movement. This plan will take some time to unfold.
Why not cut your losses and go find a hot runner?
Fully subscribed would put the O/S a little above 300M. That’s not too bad IMO as long as new locations open.
So it bothers you that Gay specializes in exactly what GIGL is trying to do? I think it’s amazing news.
Besides many CEOs serve in other capacities as advisors, consultants, board members, etc...
Tesla’s stock seems ok and Elon is launching space ships with another company and he built pretty much built solar city while CEO of Tesla as well.
Amazon is doing ok and Bezos has his hands in tons of stuff.
Same with Facebook, etc...
Volume slowed after the first 2hrs of trading. No surprise. Many waiting on details of the rights offering.
It wouldn’t surprise me to see a filing showing Gay acquiring a bunch of shares. That’s where he’s going to make his money in this deal
Volume & price sucked for past 5mo because we had a failed stock broker think he was an restauranteur. Parsi dropped the ball repeatedly for 7 years. Now we have a CEO with repeatable proven success at the helm.
I was thinking about participating in the offering but minimally at best. With this CEO news, I’m looking forward to adding big. Might even max out. Exciting times ahead.
I’ve realized it’s not even worth responding. It’s what he does on every board.
No facts, no substance, no merit.
Maybe. Then it’ll drift all the way back to .25+
I’m up A LOT of Latte’s today.
He certainly didn’t take this position to fail. We’re in much better shape than we were yesterday. Expansion imminent IMO
Well lucky for me I know a former CPK exec that was there with Gay. That’s part of the reason I doubled my position this morning. Gay is no Parsi - he’s a man that can expand GIGL. I don’t mind you watching me make huge profits from the sidelines.
Cheers!
How do you explain the 1.6M in volume and 60% increase in pps?
This CEO is the real deal. No stinky pinky move here. He’s grown two reputable companies and CPK sold for a boatload of cash.
Haha! Love it. Climb aboard. hay is a real deal CEO. This just became an excellent long term hold.
Gay helped grow CPK to over 100 locations. Amazing news!
Wow. I thought most of your posts were way out there. But I’ll hand it to you. You called this one. Nice job!
Form 4 is for insider buying. We’d most likely be looking for a SC 13G/A
Agreed. Good chance he thought you had to own the stock by today. I won’t be surprised if he totally botches this opportunity.
I’m still holding because the upside is great if he pulls it off.
Yep. Possibly an attempt to boost pps to raise offering price. But would have been better timed before record date IMO.