Giggles N'''''''' Hugs Inc. (fka GIGL)

[ShortsFail]

More DD on catering.

Okay, another step in the trail of the catering business. When I searched for "GNH Cc, Inc." I found a $GIGL 10-K with the following. Keep in mind that GNH Cc Inc. has been listed as one of the two catering entities.

GNH Cc. Inc. is listed under "restaurant operations" which one could say catering could fall under (both sit in vs. catering/outside delivery of food) but if so, it's not a good way to word it. The catering should be identified separately since there is an active private legal entity for catering. Maybe one of the newer filings has it structured better.

https://www.sec.gov/Archives/edgar/data/1381435/000149315215001907/form10q.htm

<<<<NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Principles of consolidation

At March 29, 2015 the consolidated financial statements include the accounts of Giggles N’ Hugs, Inc., GNH CC, Inc. for restaurant operations of Giggles N’ Hugs in Westfield Mall in Century City, California, GNH Topanga, Inc. for restaurant operations in Westfield Topanga Shopping Center in Woodland Hills, California, and Glendale Giggles N’ Hugs, Inc. for restaurant operations in Glendale Galleria in Glendale, California. At March 30, 2014, consolidated financial statements include the accounts of Giggles N’ Hugs, Inc. GNH CC, Inc. for restaurant operations of Giggles N’ Hugs in Westfield Mall in Century City, California, GNH Topanga, Inc. for restaurant operations in Westfield Topanga Shopping Center in Woodland Hills, California. All significant intercompany balances and transactions have been eliminated. Giggles N’ Hugs, Inc., GNH, Inc., GNH Topanga, Inc., and Glendale Giggles N’ Hugs, Inc. will be collectively referred herein to as the “Company”.>>>>


So, if (and I do mean "if") this GNH Cc, Inc. represents the catering in this filing, then this filing indicates the income from catering is flowed through to the main public company $GIGL in 2015 (which is more legit). (I haven't gotten to Q2 2015 to present yet...any takers? LOL).

But this is unclear from what I've found.

Items that need to be clarified:
1) how the funds from catering are being booked/reported to the IRS?
2) this booking/reporting path affects how the taxes are paid (flowed through to Parsi personally or added to $GIGL).
3) if there's any tax delinquencies and if so, which entity is it that is delinquent?

Corporate Filings for Gnh Cc, Inc.
California Secretary of State
Filing Type: Statement & Designation By Foreign Corporation
Status: Active
State: California
Foreign State: Nevada
State ID: 03505125
Date Filed: Tuesday, August 28, 2012
Registered Agent Joey Parsi


GNH Cc, Inc.
Number: C3505125 | Type: Foreign Stock (Nevada)
Company is located at 10250 Santa Monica Blvd #155 Los Angeles CA 90067
GNH Cc, Inc. status is Active