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No offense taken ChuckBits. I completely agree with you, except I think I'm somewhere between stage 1 and stage 4 depending on the day. I want to be at stage 5 in the worst way, but I can't make myself forget that management is still to this day making good money for themselves while lying to people in order to fund it.
I accept responsibility for investing in this. I should have known if it was too good to be true, it is. But Joey managed to push all the right buttons in my brain and I put EVERYTHING I had into a penny stock not knowing that rules don't apply down here. I deserve to lose it all.
But what I can't accept is not trying to do anything about it.
This board is my therapy. I have no idea how many people read my ramblings. From what I gather, the majority seem to despise Joey, yet there he sits on the throne.
I haven't heard anyone other than TooFrank say I shouldn't do anything, and his words only make me want to do it more. If those of you - and I know who you are - that have been here for all of Joey's lies and have lost money on this con don't want me to do anything I will stand down. But I need to hear it.
What gave it away, Genius? Was it when I put my name on my comments? Nothing gets past you.
Would you care to enlighten us as to what those "half truths" were? Perhaps you can explain how 99% of OTCB companies work and why it's justified within the context of GIGL blowing through millions of dollars despite having only two restaurants and still needing hundreds of thousands, if not millions more.
And if you don't like the comments on WeFunder, you and Team Fraud is really not gonna like them when I start leaving them as Yelp reviews.
New SEC complaint to be filed at end of business on Tuesday (I will begin exploring a class-action suit on Wednesday):
To Whom It May Concern,
As a shareholder of Giggles N Hugs, Inc. (ticker: GIGL) I am requesting the SEC to open an investigation into possible stock price manipulation, insider trading, providing false and misleading information, failure to disclose material information, and a breach of fiduciary responsibility by management. I have submitted detailed complaints regarding this company in the past, but it does not appear anyone has ever followed up on them. As a result, the company’s management continues to flaunt its fiduciary liability. They continue to make false and misleading statements and have moved to enrich themselves at shareholder expense. The SEC’s failure to act has allowed them to continue looking for victims to fund their bloated salaries and drain the company of valuable resources. As a shareholder, I am beyond disgusted with management and would like to see them punished to the fullest extent of the law, regardless of my financial stake in the company. Among the recent items that I question the legality of:
1. New compensation arrangements granted to management by themselves without shareholder approval. Management has made several attempts to raise money in the last few years and has declared publicly on multiple occasions that they would be implementing a formal Board of Directors (BoD) in order to build confidence in the company and assist with the fundraising efforts. No independent Board has ever been created, rather management has appointed themselves to the Board for official purposes and used their position to give the impression that an independent Board exists. Management has then used that position to grant themselves outrageous compensation packages without ever holding shareholder votes thereby draining the company of valuable resources and cementing their positions all while continuing to ask the public for new resources.
2. Failure to ever hold a shareholder meeting.
3. Failure to hold regular shareholder updates.
4. Misleading the public in regards to the role of co-CEO, Phillip Gay. It is believed that Mr. Gay is simply a consultant and has no real involvement with the direction of the company. In addition, it is believed that the amount and nature of Mr. Gay’s compensation has been misrepresented to shareholders and investors. Co-CEO/Founder, Joey Parsi has publicly indicated on multiple occasions throughout the years that Mr. Gay is being compensated for his work with the company in shares only, however, as the last 10-K demonstrates, Mr. Gay only started receiving shares in 2018 (either that or he sold them without making the proper Form-4 filing). In addition, Mr. Parsi misleads investors by neglecting to tell them that Mr. Gay’s consulting firm receives substantial compensation for its services, the amount of which seems excessive. It is not known if Mr. Parsi has made attempts to find more affordable service. Last but not least, Mr. Gay has continually made public declarations encouraging investors to invest in the company all while privately investing his money in other (competing!?!?!) restaurant companies.
5. Failure to disclose insider sales of company stock (Sean Richards)
6. Misleading investors regarding the role of Jilian Michaels in the most recent (pathetic) attempt at crowdfunding.
7. Misleading investors regarding the intended use of funds had they been successful in the most recent (pathetic) crowdfunding attempt. The amount of funds that was attempted to be raised was inconsistent with previously made public statements regarding the company’s capital needs and goals. It is suspected that the fundraising attempt was just another way for management to continue paying themselves outrageous sums.
8. Making false statements regarding Mr. Parsi’s compensation on the last investor call and/or falsely reporting compensation on previous financial statements.
9. Attempting to manipulate the price of the stock by making bogus PR announcements regarding their menu offering of Beyond Meat (BYND) at a time when BYND was experiencing significant hype. Mr. Parsi has a history of questionably timed PR announcements that seem aimed at accomplishing nothing more than inflating the stock price, e.g., announcement of Bitcoin acceptance during Bitcoin hype and the announcement of insignificant business relationships in order to draw attention to the stock while the company was attempting to raise money.
I understand punitive actions against the company could adversely affect my investment. Considering the amount of shareholder value that has been destroyed by management already, I am willing to lose everything to see management get what they deserve. I accept full responsibility for my losses, but humbly ask the SEC to administer justice to the men preying on naïve investors such as myself. These men should not be allowed anywhere near public markets.
Thank you.
They have spent all that money and don't have one damn thing to show for it other than new lawyers and compensation packages. All in a year. AND STILL TRIED TO BEG FOR MORE!!!
TooFrank is cool with it though - thinks those that tried to warn others on WeFunder should be investigated. Clown.
"Running". Ha! It's two restaurants with a COO and multiple levels of management. The restaurants will run just fine without Joey, as evidenced by his six weeks of paid vacation.
Can you imagine the headline: "CEO/Founder of outstanding healthy, organic, restaurant concept sues his own investors over public criticism".
The story that would follow would have investors lining up down the block, I'm sure.
Bottom line: Joey made the decision to make this company public - JOEY, NOBODY ELSE!!!! He has to accept that he made a mistake and turn it over to someone that can salvage it. By the looks of it, he rather burn it to the ground to spite his shareholders rather than give up control and become filthy fuckin rich. He's hurting his shareholders and he's hurting anyone who trusted and/or relies on him. And he is doing it all because of his ego.
"Pride goeth before destruction, and an haughty spirit before a fall." - Proverbs 16:18
Tell us Oh Wise One, whose fault is it that Phil hasn't invested one dime in this company, rather he has invested in his own companies?
And why was Jilian Michaels used in the WeFunder campaign when it is known that she has nothing to do with the company outside of holding warrants for her efforts to pump the stock?
Can't wait to hear what kind of bullshit you come up with to explain this.
Said it once before, I'll say it again: You're a fuckin shill.
Nobody - including me - said anything on WeFunder that wasn't one hundred percent true. He's a fuckin liar and deserves to be in prison.
And since you are so concerned about me wasting my money on a lawyer, don't worry SEC complaints don't cost a thing.
I did it!!!!! I got TooFrank to reply to me directly!!!! I win! Wooooooo!
Too late. I've already employed Jackie Chiles.
I'm sure as long as it gets him out of the house she's fine with it. She's probably praying they open that store in Turkey.
Is it safe to assume that her FB is one giant exercise in virtue signaling? Probably a lot of ironic railing against corporate greed I would imagine.
New SEC complaint to be filed at end of business on Tuesday (I will begin exploring a civil suit on Wednesday):
To Whom It May Concern,
As a shareholder of Giggles N Hugs, Inc. (ticker: GIGL) I am requesting the SEC to open an investigation into possible stock price manipulation, insider trading, providing false and misleading information, failure to disclose material information, and a breach of fiduciary responsibility by management. I have submitted detailed complaints regarding this company in the past, but it does not appear anyone has ever followed up on them. As a result, the company’s management continues to flaunt its fiduciary liability. They continue to make false and misleading statements and have moved to enrich themselves at shareholder expense. The SEC’s failure to act has allowed them to continue looking for victims to fund their bloated salaries and drain the company of valuable resources. As a shareholder, I am beyond disgusted with management and would like to see them punished to the fullest extent of the law, regardless of my financial stake in the company. Among the recent items that I question the legality of:
1. New compensation arrangements granted to management by themselves without shareholder approval. Management has made several attempts to raise money in the last few years and has declared publicly on multiple occasions that they would be implementing a formal Board of Directors (BoD) in order to build confidence in the company and assist with the fundraising efforts. No independent Board has ever been created, rather management has appointed themselves to the Board for official purposes and used their position to give the impression that an independent Board exists. Management has then used that position to grant themselves outrageous compensation packages without ever holding shareholder votes thereby draining the company of valuable resources and cementing their positions all while continuing to ask the public for new resources.
2. Failure to ever hold a shareholder meeting.
3. Failure to hold regular shareholder updates.
4. Misleading the public in regards to the role of co-CEO, Phillip Gay. It is believed that Mr. Gay is simply a consultant and has no real involvement with the direction of the company. In addition, it is believed that the amount and nature of Mr. Gay’s compensation has been misrepresented to shareholders and investors. Co-CEO/Founder, Joey Parsi has publicly indicated on multiple occasions throughout the years that Mr. Gay is being compensated for his work with the company in shares only, however, as the last 10-K demonstrates, Mr. Gay only started receiving shares in 2018 (either that or he sold them without making the proper Form-4 filing). In addition, Mr. Parsi misleads investors by neglecting to tell them that Mr. Gay’s consulting firm receives substantial compensation for its services, the amount of which seems excessive. It is not known if Mr. Parsi has made attempts to find more affordable service. Last but not least, Mr. Gay has continually made public declarations encouraging investors to invest in the company all while privately investing his money in other (competing!?!?!) restaurant companies.
5. Failure to disclose insider sales of company stock (Sean Richards)
6. Misleading investors regarding the role of Jilian Michaels in the most recent (pathetic) attempt at crowdfunding.
7. Misleading investors regarding the intended use of funds had they been successful in the most recent (pathetic) crowdfunding attempt. The amount of funds that was attempted to be raised was inconsistent with previously made public statements regarding the company’s capital needs and goals. It is suspected that the fundraising attempt was just another way for management to continue paying themselves outrageous sums.
8. Making false statements regarding Mr. Parsi’s compensation on the last investor call and/or falsely reporting compensation on previous financial statements.
9. Attempting to manipulate the price of the stock by making bogus PR announcements regarding their menu offering of Beyond Meat (BYND) at a time when BYND was experiencing significant hype. Mr. Parsi has a history of questionably timed PR announcements that seem aimed at accomplishing nothing more than inflating the stock price, e.g., announcement of Bitcoin acceptance during Bitcoin hype and the announcement of insignificant business relationships in order to draw attention to the stock while the company was attempting to raise money.
I understand punitive actions against the company could adversely affect my investment. Considering the amount of shareholder value that has been destroyed by management already, I am willing to lose everything to see management get what they deserve. I accept full responsibility for my losses, but humbly ask the SEC to administer justice to the men preying on naïve investors such as myself. These men should not be allowed anywhere near public markets.
Thank you.
If they don't have something in place already that can be announced, like an LOI, they aren't going to be getting any money at the end of next month either.
I'm out of patience.
I agree, I think there's a strong case. I wanna see him embarrassed in front of his family.
And only one week left until Fraudster Phil "earns" another 1.5M shares.
Fuckin criminals.
Thank you for this. I was given the name of a lawyer who can help when I was thinking about doing this at this time last year. I think it's about time I reach out.
I would love to but I'm not on FB. I encourage others to do so. It's time to start fighting dirty.
Did I miss anything?....
To Whom It May Concern,
As a shareholder of Giggles N Hugs, Inc. (ticker: GIGL) I am requesting the SEC to open an investigation into possible stock price manipulation, insider trading, providing false and misleading information, failure to disclose material information, and a breach of fiduciary responsibility by management. I have submitted complaints regarding this company in the past, but it does not appear anyone has ever followed up on them. As a result, the company’s management continues to flaunt its fiduciary liability. They continue to make false and misleading statements and have moved to enrich themselves at shareholder expense. The SEC’s failure to act has allowed them to continue looking for victims to fund their bloated salaries and drain the company of valuable resources. As a shareholder, I am beyond disgusted with management and would like to see them punished to the fullest extent of the law, regardless of my financial stake in the company. Among the recent items that I question the legality of:
1. New compensation arrangements granted to management by themselves without shareholder approval. Management has made several attempts to raise money in the last few years and has declared publicly on multiple occasions that they would be implementing a formal Board of Directors (BoD) in order to build confidence in the company and assist with the fundraising efforts. No independent Board has ever been created, rather management has appointed themselves to the Board for official purposes and used their position to give the impression that an independent Board exists. Management has then used that position to grant themselves outrageous compensation packages without ever holding shareholder votes thereby draining the company of valuable resources and cementing their positions all while continuing to ask the public for new resources.
2. Failure to ever hold a shareholder meeting.
3. Failure to hold regular shareholder updates.
4. Misleading the public in regards to the role of co-CEO, Phillip Gay. It is believed that Mr. Gay is simply a consultant and has no real involvement with the direction of the company. In addition, it is believed that the amount and nature of Mr. Gay’s compensation has been misrepresented to shareholders and investors. Co-CEO/Founder, Joey Parsi has publicly indicated on multiple occasions throughout the years that Mr. Gay is being compensated for his work with the company in shares only, however, as the last 10-K demonstrates, Mr. Gay only started receiving shares in 2018 (either that or he sold them without making the proper Form-4 filing). In addition, Mr. Parsi misleads investors by neglecting to tell them that Mr. Gay’s consulting firm receives substantial compensation for its services, the amount of which seems excessive. It is not known if Mr. Parsi has made attempts to find more affordable service. Last but not least, Mr. Gay has continually made public declarations encouraging investors to invest in the company all while privately investing his money in other (competing!?!?!) restaurant companies.
5. Failure to disclose insider sales of company stock
6. Misleading investors regarding the role of Jilian Michaels in the most recent (pathetic) attempt at crowdfunding.
7. Misleading investors regarding the intended use of funds had they been successful in the most recent (pathetic) crowdfunding attempt. The amount of funds that was attempted to be raised was inconsistent with previously made public statements regarding the company’s capital needs and goals. It is suspected that the fundraising attempt was just another way for management to continue paying themselves outrageous sums.
8. Making false statements regarding Mr. Parsi’s compensation on the last investor call and/or falsely reporting compensation on previous financial statements.
I understand punitive actions against the company could adversely affect my investment. Considering the amount of shareholder value that has been destroyed by management already, I am willing to lose everything to see management get what they deserve. I accept full responsibility for my losses, but humbly ask the SEC to administer justice to the men preying on naïve investors such as myself. These men should not be allowed anywhere near public markets.
Thank you.
I think it's time for another SEC complaint.
Keep hoping. It ain't over til it's over.
Wrong! I still have all my shares. You don't get credit for tanking a stock if you aren't selling short.
And the name is Chim. Chim Richalds.
That's weird, my account is showing down 90%. ; )
No Shawny, we need to wait at least another three weeks so that he can accrue another 1.5M shares in compensation which he has worked so hard to earn. I like where your heads at though.
I can already see the customer complaints over random bites and missing slices piling up.
Don't worry, he has six weeks of paid vacation to help him recuperate from the daily grind of overseeing multiple layers of management for TWO restaurants.
More like 1.5 weeks.
Shawny, this is like my cat bringing me a dead mouse thinking it's a gift. QUIT MESSING WITH MY EMOTIONS!!!!!
Yep. All or nothing time.
"It was a huge quarter for us anyway you measure it, and we feel we owe it to both the weather and our proven and unique concept," stated Joey Parsi, Founder and co-CEO of Giggle N' Hugs."
Anyway you measure it, huh? How about expansion? Stock price? Doing ANYTHING you've said you were going to do for the past four years?
Dude is a clueless con-man.
I'm sure they'll get "amazing" for $16hr. in LA.
"Works closely with the Director of Sales, General Manager, Kitchen Manager and Shift Supervisors on all event details"
Two restaurants - TWO! JFC, lol.
Lol, their Beyond Meat smoothie flies off the shelf.
Gator is right that competition is coming.....
https://www.cnn.com/2019/06/06/business/jamba-juice-rebrand/index.html
Great idea when the time is right; snowmobiling won't be big until November at the earliest.
You know what the time IS right for? Legalized sports wagering. What better way to pay for little Jimmy's party than to hit big on a four team parlay!?!?! Now accepting futures wagers for the upcoming football season! Ask your waitress to explain the vig.
Coming soon. 1st qtr. fins say they only have until the end of July to run out of money.
Joey almost made more in salary today than the dollar value of today's volume. Sweeeet!
Don't forget critically low cash. It's either boom or bust. The logic says Joey should sell and it will be boom, but Joey isn't big on logic.
Not to mention incomplete and inaccurate. The chance of 100% loss investing at these pathetic levels still exists.
Gonna take more than a new CEO; new owner.
Remember on the last call when Joey said he didn't know that the price of the stock was so low despite having to sign the delisting document and then comparing himself to Steve Jobs and Elon Musk? Good times!
C'mon SEC, do your fucking job.