Predict down trend. All smoke here. Failed 2 location Bahrain deal and he now wants a rights offering. If you think this is going up, you will be sadly disappointed.
From filing yesterday:
Giggles N’ Hugs intends to raise up to $5 million through the offering, however this does not mean that we will raise the entire amount.
The Company intends to use the proceeds of the rights offering for general corporate purposes, to supplement operating cash flows, to fund new company and franchise location expansion and to support its acquisition growth plan. The Company also plans to use a portion of the proceeds to further strengthen the company's balance sheet.
Notice how the use of the money only has for franchise use three down on the list.
In other words more of the same, raised money through the years that fills pockets and no franchises, IMO.
