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This board has devalued itself into claims of bullshit and not much else. That is everything I read in the comments now. Bullshit this and bullshit that.
I don’t think my investment was a mistake. I firmly believe that Snakes still has all the potential in the world and it will realize its potential in time.
This does not make them blameless. They hardly seem to care about the state of their stock. To be fair, I understand the logic behind their current stance:
Their highest priority is the company and not the stock. If the stock is great but the company can not sustain it, the stock will eventually crash. There are multiple examples of this, one of them being Enron.
If the stock is really bad, but the company performs well, the stock will eventually catch up to the value of the company. Perception is key here.
The current perception of this company is in shambles right now. Yes, they have multiple locations. Yes they have a business model which seems to work. Yes, they make for a compelling story, but oh so much information is missing.
As investors, we are blind. At best, we are currently seeing haphazardly. We have no financial information from the company from which we can make good assumptions. This is a cardinal sin for investors.
It is a very bleak picture for us as investors... currently that is.
Things could change in a moment, although to be honest, I have very little faith that things will change in short order. For such a change to be possible, the people in charge of the company must have a very clear understanding of the market, and I am not sure that the people in charge have this clear understanding of the market. If they had, would they have allowed the stock to fall so much from .23-.05?
Could I do better? Dear God no! I wouldn’t have been able to do one tenth of what they have done. Nor am I investing in FUNN because of the knowledge of its leaders.
I am investing in FUNN because of Snakes&Lattes. The potential of the company has not diminished in any way, despite what so many people here claim. The company has now 4 locations, is working on a 5th and acquired a 6th.
Distribution has grown considerably in Canada.
They recently published their own game.
These are all signs of growth. Are they the wild signs of growth that we would like to see? No. They are not. By this time we probably wanted to see 10 locations multiple games, or whatever else we believe success to be.
None of us run a store though. Not like S&L. We are not the ones taking a huge risk in opening any location and everything it entails.
“But but, I invested my hard earned cash here!”
Good for you, so did I. My point stands, they have far more to lose than you do.
You may not care, but at least try to understand. Opening a location requires so much logistics, planning. It would be completely counter productive to open 10 locations only to need to close 8 due to lack of proper planning.
What we are right now witnessing is the building of the foundation. This is slow boring work. But essential. If the foundation is solid, the building will be solid. If it is weak, then the building will be weak as well.
Our current dilema is that we don’t know anything. We don’t have numbers to certify anything. We can only assume so much. This is definitely the responsibility of current management.
Nevertheless I still see S&L an incredible potential, despite the hate that word brings. S&L has a great potential to grow, in so many different areas.
Well, that explains why they haven’t talked about it for such a long time, nor include it in their last communications. Thanks
You know, I never thought about this before, but FUNN is now 1 cent cheaper than it was when I found it 2 years ago.
What a wild ride lol
Really?
“It's not what I invested in though. I invested in this neat little thing called a "board game cafe". Not a hail-mary business model that leads pathetic companies like Morning straight to bankruptcy.”
Disagree with this. What is their business model? Three fold:
1. Retail locations, also known as board game cafes
*This is something they started and got really good at. This is something that we need to see grow, and this is a given, but at the same time, this type of growth should be carefully considered.
Every 1 location opened is a huge risk in its undertaking. Money must be paid to the locale, to the employees, etc. It can be a huge strain on the company if they don’t make sure each location is profitable. This is an undertaking in itself.
Here I believe we as investors must be reasonable. How can we expect them to open 10 locations at once, when they are still making completely sure that each location is a success? That to us should be more important. Should any 1 of these locations close, or face problems, then the finances of the company as a whole would be in peril. When they give out news, (as they have) demonstrating the success of each location, we should be overjoyed, because they are working out a plan which will ( in the future) allow for locations to be built en masse. Yes, locations must and will be built, but existing locations must be made to work first.
2. Distribution.
This is actually one of the most consistent, if not THE most consistent part of their business. They have truly made a great core of this in Canada, and once they start working with the US (again, as they said they would) we will see a large increase of consistent revenue. This is always a good thing.
3. (Newly added) publishing.
Multiple articles cite Publishing as the most profitable part of the game making process. S&L decided to enter this business with a game making company they bought. Morning was ALREADY in bankruptcy when they acquired it. This means that they got all their rights to all future and past games for virtually nothing. It has already been discussed what a great buy this was. By publishing Morning (their) games S&L actually wins multiple advantages:
a) the highest margin of the profits
b) valuable experience in publishing with little loss on their end (they own the game they will publish, they don’t need to negotiate terms with anyone)
c) growth in their BRAND as publishers.
We have to realize that this isn’t only about Morning. Depending on how their games do, the experience they learn etc, other game makers or companies might come to S&L to get them to publish their games.
This is a very long plan folks. They are in this for the long run
*shrugs*
At this point all I care about is the completion of the audits. If person A B or C does it, then that is of little consequence to me
*shrugs* People always believe what they want to believe. I was just sharing a response I got from an email I sent.
Haven’t you seen Star Wars? To speak in absolutes, the sith way, that is.
Let’s see what happens after the audits are done
This is a response I got to an email I sent:
XXXX,
We understand that some people are being vocal and negative on Internet forums about us as individuals and Snakes & Lattes as a business model.
this is something that has been going on for years I believe. I want to assume that some of our shareholders are thinking the same way, and maybe even the majority of our support is believing the following statement.
Our objectives are clear, and we are following our business plan. Get into franchising, opening locations, and grow the brand.
The main issue for losing support is our voluntary audit. We will do a full post mortem on this audit, but I can assure you that, since i've taken over the audit, we have never been that close to finishing off and starting focusing on the future again.
We have plenty of good news to announce, to create value for you as investors but regardless of what we are saying at this time, we need to finish the audit first.
Please see some of my answers in bold, below.
Ben
On Sat, 5 Oct 2019 at 18:47, via Investors <Investors@snakesandlattes.com> wrote:
Hello. My name is XXXX, and this is just a friendly update of the mood of the investors :)
“The problem is a few retail placed is not near enough to market any game to a level to sell millions of them and this morbid rate of growth is dooming the whole concept.
Show Quoted Content
On Sat, 5 Oct 2019 at 18:47, '' via Investors <Investors@snakesandlattes.com> wrote:
Hello. My name is XXXX, and this is just a friendly update of the mood of the investors :)
“The problem is a few retail placed is not near enough to market any game to a level to sell millions of them and this morbid rate of growth is dooming the whole concept.
....
Most of the games are sold to Distributors around the world. We pre-sold about 100,000 copies, which is a first in the industry
Snakes & Lattes venues will help promoting the games, but you are right, the locations are limited so is the impact.
I'm not sure about selling millions of copies, only 2 games have done it in the last 20 years.
We don't need to sell millions to be profitable, we need to have Morning produce couple games a year and create a brand.
In today's world you have to move quick or you get passed by or forgotten. The only way I know of funn is through this board and that was over 2 long years ago, and guess what,
.....
Yes, this is why we are moving from operating venue to a Franchise system. We are transforming to entire company to accelerate growth.
This is a major transformation and we need to build a leadership team that will execute the business plan. We need to hire talents and senior managers to lead the metamorphose. This cannot all be done by the existing leadership team.
....
after 2 years they remain unknown by most of the population with missed fins, unkept promises, morbid rate of growth, competition popping up all over, inept game and publishing that cant even get the product to customers, and a sinking share price.
.....
missed financials - absolutely, this has put a huge strain on the company at large and
unkept promises - we can focus on what we missed, but what about adding 2 locations (midtown / Tempe), acquiring 2 board game cafes (guelph / Waterloo) consolidating leadership in logistics activities and having increased revenue by 30% ?
morbid rate of growth - we can grow faster with influx of money. unfortunately, we have been somewhat paralyzed lately with delayed audit.
competition popping up all over - this is not the case. concepts that are opening in the US and Canada are small and none of them has the ability to grow near out size. the 2 competitors are Randolph (located in Quebec) and Mox (Seattle). We are very well positioned to acquire individual board games cafes around the world and bring our expertise.
inept game and publishing - inept game publishing? we have had financials difficulties because we printed a lot more games that anticipated. Kill the Unicorn and Red Panda are being released before Xmas.... this is a massive success for AMFIL.
We can focus on delays to ship games (un-related to printing games) to kickstarter backers. These backers should have never received their games in the first place, when Morning filed for bankruptcy. As a gesture for these backers, we decided to honour all pledges. This is a huge commitment from AMFIL that turned out successful for the brand we want to support.
I don’t give a dang about the up listing. I care about the numbers. That’s what I want to see. Once the audit is done and we are current, the S&L locations will open at a much faster rate; we will finally know how the company is doing, which will lead to a better understanding of the risk we are taking.
The up list to OTCQB will happen eventually, but that is not as important as the filings
Snakes and lattes has an investor contact email, but I have also received answers through interloc.kings@gmail.com
Has it been confirmed how much of that money goes into fulfillment?
The only good news is that with the stock going so low, I am considering buying more again
Are we making money? That’s the whole point of the audits. We don’t know what’s going on.
There’s a reason why nobody mentions that. That’s old news, and Roger does not seem to care a lot about the stock.
Hmm. We will see
Lol my 150,000 shares. Shares worth considerably less now than they were before.
Still holding, but yeeeeaaaa.
We are f-up.
We are f-up. That’s my analysis. That’s pretty deep. I know. I expect to be quoted several times during the day.
As soon as the CEO provides good information for investors, then we will defend him. But the truth is that this information has been lacking or not well provided.
The best that has happened lately is the release of the first self published title, and the expansion of S&L in Canada. The rest is past information.
Maybe we are in the red. But we shouldn’t be too much in the red if we are expanding in locations. Something good must be happening.
But investors need numbers, not ideas. The idea has been powerful enough to carry us up to here, now we need numbers to see if the idea is sustainable and works. We don’t have them.
Still here. Excited actually.
I am happy that S&L is growing. 4 locations with 5 & 6 on the horizon make me a happy camper.
Kill the Unicorns is ready to hit the shelves this holiday season.
If this game does well, we could see another location open next year, maybe more!
The audits... sigh. I’ve lost any interest in discussing them again. They will arrive when they arrive.
Even just 1 location would be amazing. It would definitely make the purchase of Morning worth it.
Agree. Im glad that they have established this strategy in order to increase their locations more quickly.
Hopefully KTU does well enough for them to build another location. That would be amazing.
Oh, you are right. I forgot about Charlotte. But I had the impression that Charlotte was still quite a ways off...
What? Don’t you mean 6?
We have 4
Tucson makes 5
New acquisition makes 6
Which one?
Excellent post
Or you could be making all of that up right? There was a delay. There have always been delays in all of their locations. It is now moving forward
Lol, yes we all wish S&L would have 25 locations by now, but this isn’t really too bad.
In 2016 there were 2 locations. Now 2019 there are 4 currently open and 5 & 6 are in sight for this year.
Yes, we were told that this year would end with 10 locations or more. I think we will all need to learn to temper our expectations when it comes to PRs.
That said, the company is moving forward. That is the important part. Also important to note is the relative short span between 5&6.
They are both set to open this year.
Looking back at the PR (which objectively speaking was very disappointing) the part where they included this new business strategy was very brilliant.
We all know that several others have tried the same business model as S&L, but none have done it quite so well as they have. By acquiring some of them, we can expand our brand, and locations much more quickly.
The question is, how many of these stores can the company acquire per year? I’m thinking that maybe 1 or 2 per year.
Again, much depends on the completion of the audits. As JRF demonstrated, a private investor can get things moving much more quickly that corporate can.
Because there was a delay. Something to do with plumbing and what not. It is now expected to open Q4 2019
Now is a good time to reread the PR and see what else might drop by surprise
Interesting. That would be location number 6. Nice
Cool. The problem is that the foundation has been built, and is being built, but no one knows it.
That is short sighted to say. Why not band together and ask the CEO as Investors that he hire a IR firm?
Go on. Change my mind, I am listening.
That’s a great idea. But the company has had great ideas before. I want results, not ideas
I feel pretty underwhelmed with this update. This feels like a lot said of nothing:
They are going to update some locations.
The locations are doing well. (No numbers provided)
The sales from a few games were explosive, but inconsistent.
* this is actually one of the most interesting points as S&L may not be making as much money as we thought.
They are fixing this by looking for more standard revenue. (No numbers provided)
Cincinnati was one location which was thought about, but the location does not work, so they are still looking for a location. (Wow what a bunch of nothing)
Publishing is hoped to bring more revenue. (Yes, we hope so too, and have been hoping for that since the purchase of Morning)
Grozone may have another 2 units purchased soon. (No numbers provided)
Audits. People were hired to make the process faster. They are expected ....soon.
Did I miss anything?
Anyone else hitting “refresh” every ten minutes?