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How about that audit?
I guessed no completion until end of current year, so the backlog could continue. Cheerleaders here said likely March 15, for sure by end of March.
Well it is April, no Audit. Now into the seventh month since last audit/any numbers released. Looks like I am still closer to correct.
What legitimate auditing firm requires over 6 months to complete an audit when they have all the raw data, currently verified from their own work?
AMFE may be OK, but if their choice in accountants is indicative of strategic operations function, I see a hard limit on the success of growth.
Dude, seriously? I would be happy with 14 cents in three months at this point.
I am not a basher, but an investor. I want Accountability from the CEO. I own here and do want to see the company succeed.
However fatigue and repeated patterns of corporate gaslighting have become quite annoying at this point.
How long will it be until the company, CEO, or the suspiciously followers wake up?
Also, to answer your question: I don't expect help from promoters of this stock. Not because of lack of willingness (which I am sure exists) but because there is no currently verifiable way that you can.
Would you be so kind as to post a link to ad, PL client, or any other validating information?
Not likely a second label.
Ads won't launch.
Name will never be released.
This is and has been the pattern.
The burden of proof is on the CEO at this point.
14 months ago should have been the end of trading at a discount, but failure of audit, lack of tangible reporting, falsified revenue clients/values, and general distrust of company have allowed it to continue to epic lows.
How long til .0005?
This is taking too long to get to .0005.
Tell me more about this great loading opportunity for the generally falling share price of this "free beer tomorrow" waiting on audit underperforming stock.
It isn't about finding service staff, it is about training and retaining them, Restaurant labor has a very high turnover and retaining servers that also have knowledge of all games offered is a challenge.
As to the argument of other pennies, they are likely P&D scams that hit that valuation for less than a week and fall back down to the sewers from which they arose.
50-150 is reasonable in short to mid-term perhaps, but it would be nice to see actual numbers that could validate this valuation rather than speculating based on performance last reported over nine months ago.
Using Shake shack as a barometer is likely a fairly congruent model. What Shake Shack lacks in subsidiary distribution and retail production is countered with an easily reproducible model with systems and distribution of product in place. Snakes is limited in expansion due to the labor investment of training servers/bartenders to also be game gurus. There is an investment of skilled labor in a sector that is difficult to maintain staff as it is - little skill is required for burger flipping. So, in the end, I think those factors somewhat cancel out. That said, a 50 million valuation may be fair, 150 million a far stretch but at least plausible, but my initial argument against a 1 billion dollar valuation still stands.
That value is a freaking pipe dream...maybe it could be seen with five more years of growth, expansion, and on time operations execution.
100 million revenue...LOL
Even still, max 30% profit; 5X free cash multiple valuation puts it at 150 million valuation. Nowhere near the billion you dream for.
Ha ha ha
There is not increased cash flow, however there is increased debt load, revenues reported are not collected and are unavailable as working capital. So, we'll start there.
The offering as put forth is simply an instrument to add shares to the company. There is no buyer, and it is more highly likely that they will extend sale dates and lower price of offering. Risk jail? I think based on the actions (which you say speak louder than words) of the last 2 years show that they are willing to take the chance SEC will not pursue the matter when it proves to be false.
Speaking of actions, where is that audit? Why no mention of it now that so called problematic Delaware Debt is off the books?
Likely reason: there is no actual action in this company, only paper and twitter.
Just to restate your response: You have seen no proof of ANYTHING with this company. Another piece of fiction, even if based in reality, on top of a mountain of previously created fiction is still fiction
Until proven otherwise; which so far has not, and likely will not happen.
Keep in mind, the week doesn't start until Monday, so technically the SH letter is not late if not out today. (or whatever other BS story CEO and cheerleaders will have you believe)
OK, I'll accept that.
But that keeps interest in how new growth is financed. A report would be helpful to allow shareholders to see debt structure.
That's my point...we don't really know either way.
So, if the issues were uncovered in previous 2 audits, why were they not corrected in current year?
That would be a pure deficiency in management, execution, and SOP. If this is the case further expansion will certainly bring implosion if they are unable to adapt to the demands.
You do not know they are not diluting. The lack of any substantial reporting leaves the door open for lots of events to have occurred from the audit/last quarter posted until present day.
The limit is hopefully to avoid selling at a loss. Which at this point is to either average down and play the bumps, or just wait indefinitely and keep being a squeaky wheel.
I keep losing faith that it is coming - despite what has been stated. The time frame of completion has been ridiculous. It would not be accepted for a credible fully reporting corporation to be 3 months overdue on annual financial report, give no financial update at all, and its shareholders just be OK with that.
With an audit completion in September of last year, Dec/Jan would have been an acceptable wait for completion of current audit, maybe even a 15 day extension could have been understood.
BUT, now over six months from release of last audit all we have had is a vague tweet that it is getting closer. Either it is so much more complicated from 2017 to 2018 that the auditors are spinning from the complexity of AMFE accounting (not likely for high level accountants), there is something the company is doing to delay the release (also unlikely, as I believe they do wish to move forward with goal, and will find better avenues of financing with greater market confidence), or there is simply a lack of pressure being put on the auditing firm. The latter is my most likely scenario. Why Roger isn't raising hell with the auditing firm on a daily - even hourly basis at this point - BLOWS MY MIND. Why he doesn't get in touch with executives of the company to describe how their incompetence is directly affecting the growth strategy of his company. Why he hasn't negotiated a pro-rated compensation payment for lack of timely completion and decreased payments for future contracts. Even better, scrap it, get the raw data from the accountants, hire a new eager firm, and get that shit done in a couple weeks.
As an investor trying to be patient daily, I have these questions - These legitimate questions and concerns.
Another day without an audit or financial update of any sort. Someone please tell me how great it is that we are another day closer...
Is it this afternoon yet?
Weak as hell! If they are done, post them now. Don't wait until late day at the last minute...it's as if there is something to hide.
He has been pretty good at avoiding jail thus far. It is possible the hubris of the CEO will allow him to think there will be no further action.
Why even post the Hexagon site? If it is under construction, let it lie until it is released. Sending potential investors to a page that will happen in some imagined scenario which has been touted for over a year can easily erode the confidence of a new potential investor.
at these levels...it is ten times higher than 7 months ago. This is just a lull, potential to reverse curve and begin price growth soon.
Now a third of that reduction is being added back to the outstanding shares...fact.
All that if they sell at $.0024, and if CEO does not change the offering price if shares are not selling as is described in the footnotes of the offering prospectus Re: extending offering time frame beyond 90 days.
That there is already a buyer is an irresponsible claim being made by members of this forum. There will likely be only a crap ton new shares added to OS with potential to dilute down the road.
According to his reporting of details, 1.4 billion have been retired outright, no longer a part of outstanding shares. So adding to outstanding from what was recently retired is exactly what is happening.
That there is a buyer is a false rumor made up by those continuously pushing this stock.
All this offering is actually doing is allowing 450 million of the recently retired 1.4 billion shares to re-enter the marketplace. Nothing more or less. Without a reported buyer per official channel, I believe it is irresponsible for you to say otherwise.
At the time I bought in, the company was keeping investors updated, was smaller and growing while also keeping current to financial affairs.
Using the excuse of the audit as reason for not releasing unaudited financials gives me reason to believe that the way AMFE has been documenting revenue and bottom line has not been up to par.
While it is possible that if this is the case, it can be corrected and all will be well moving forward; it is also possible that the process may uncover a method of operations that is not as lucrative as has been presented.
So while the audit will confirm financial state of affairs, it would be good to have a general idea of the financial state of affairs as the company is awaiting lazy auditors to not meet deadlines (Which now would be over 90 days overdue from the timeline of a fully reporting company ((Sep 13 plus ninety days for annual audit 90 day allowance and an additional growing number of days from that date in overdue reporting))
Failure of the auditing firm to accomplish reporting goals, failure of the company to pressure the firm or to decide to simply move forward while awaiting the firm to take their sweet-time in completion of the audit.
It yields a second question of how long will this be compounded? Now that we are over half of this FY passed, will current delays create backlog for future reporting.
Honestly, there may not be a lot of issue with operations execution, but without some information to the contrary, I find myself with a sentiment of disbelief in general daily operations success .
Perhaps, but a more likely scenario is that by the time you feel you will have pulled your intended mega-profit here, the company will be mired in costs of execution, debt from expansion of a market segment that will suffer the slings of second rate competition and the low margin profitability of the restaurant business in general.
SO, yes, a preview of the profitability potential, even revenue generation, of the current state of operations would be helpful. The potential for missteps on the way to expansion is there, and a release of financial data to the investors/shareholders would go a long way to allay some of these concerns.
An offering of 450 million shares...is this dilution or growth?
As I read it, there is an offering of about 1/3 of the recently retired shares. Is that correct?