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Thursday, May 15, 2014 11:35:39 AM
BCCI problem is to open new stores, which takes capital.
They have no cash, so they are looking for franchisees -- like Coral Gables (not a franchisee, but accomplished the same purpose), someone willing to put up the money and credit for real estate and equipment.
Although people are buying stock on the open market for .10/share, none of that money goes to the company.
According to the company's financials, the company issued 20M shares of common stock for direct input of cash in 2013:
- 15M shares for 150,000 (Q1; .01/share, though financials say .001))
- 4.5M shares for $4.5K (Q2; ditto); and
- 650K shares for $45K; (Q3: .069 share)
I am sure that such shares had restrictions as to when they could be sold. But for those who believe in the BCCI business model, buying shares directly from the company could be an attractive entry point (most of the above stock was purchased well below then current market prices), and enable the company to open more stores.
Although virtually all authorized common shares have been issued, I expect that there will be additional shares authorized.
Caveat: The above prices are per the company's financial statements. I have previously pointed out errors and inconsistencies in said statements, so please do your own DD.
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