Here's another theory to throw at ya...JP and Reed's are on the phone and it goes like this:
JP: High (misspelled on purpose) Chris Reed, it's your LA neighbor Joey Canolli
CR: Hi there Joseph
JP: Hey, I NEED to open at least 2 new stores but hate to dilute at these terrible prices. We need funds
CR: Yeah - Being in LA, I know that you are hurting
JP: What if you agree to backstop our rights offering with $1 Million dollars ?
CR: I'm listening - this is the part you say what is in it for Reed's Joey
JP: How about GIGL selling your natural beverage line in all 4 stores...our current 2 and the 2 new ones. You take 75% of all those beverage sales and we'll talk numbers if we expand beyond the 4 stores, ok ? We'll put them on our menu starting May 1st
CR: Well Joey, we are looking to grow our sales and it fits nicely with your healthy/organic theme. Let me think it over and get back to you !
*** Say YES was the decision - matters not what it prices at because a million is a million. I personally like issuing less than 600,000 shares for that !!
