Thursday, August 11, 2016 11:31:43 AM
Aug 8 reported the only reason for this so called, insider acquisition. To raise funds to increase their foot print.
This whole scenario is an insider transaction.
"expected to open several new locations through the remainder of 2016 and early 2017. XpresSpa anticipates increasing its number of total spa locations from 51 to more than 100 in the next few years. " WITH FH's loans and cash!
It could not have been said any clearer, fully disclosed and filed: "FH is juxtapositioned as a lender", verses investment.
worse, reportedly taking a small chuck of FH's holdings and share however, once fully vested it's almost 51%. to fact the outstanding will be from current 15 million to 29.
made further worse is, near 50% of the entire company's stock, it's not including the amount of stock they'll dump during the next few years for this: "from 51 to more than 100 in the next few years."
I.E. you're buying massive dilution for a company who obviously can NOT stand on their own two feet with 51 units, why would twice that make any difference at all?? Higher payroll and bonuses for insiders. .
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