It is more like lack of funds then mismanagement IMO.
Joey has addressed all queries related to how company has been funded (a lot from his own pocket) and how funds have been used that were raised in the Rights offering (see excerpt below from Joeys answer to that question on the WeFunder board). This is a struggling company trying to keep operations going and also raise enough capital to expand and grow. Can you blame them from trying to keep the lights on and keep the vision alive?
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"Regarding funds raised in the prior rights offering, after all fees and expenses that were paid to bankers, lawyers, subscription agent, information agent, transfer agent, etc, we were left with a nominal amount that has been used in the past few months for operating costs of the company. These costs include about $100K per year for legal, $70K per year for accounting, and about $50K per year for audit. It is expensive to be a publicly traded growth company and until we augment our operations by acquiring several new stores, the overhead of being a public company will continue to be a drain on our available cash flow. "
