It isn't a fake business. But, it is a business being run by a second-rate, community college dropout CEO with a history of working at a firm where the top executives (of which he one one) were arrested for fraud.
It's a business that is spending $400k+ on professional fees and staying current.
It's a business that hides the fact it has a bunch of consultants masquerading as employees.
It's a business where the CEO repeatedly overpromises and underdelivers.
How's that renovation in Tanforan going? I'll buy 1000 shares to the first person who can post a link that the renovations are actually taking place.
So yeah, it's a real business. But so was Enron.
Update: He's talking about making acquisitions. And 30 seconds earlier, he said they can't expand because he has no money.
How is he going to acquire these brands? Issuing stock. Lots of it. Which means massive dilution.
How many people here got into this investment to own part of a mom and pop kids birthday party company?
This guy has too many ums, and uhs --- he needs to sign up for Toastmasters.
Update 2: At least the broker is working on commission. That is a positive sign.
Update 3: Why isn't he willing to tell us who this big time broker is? He loves to name drop everyone else!
Update 4: Celebrity spokes people icing on the cake. Yet Joey LOVES to namedrop all the celebrities that visit. Now he is downplaying the celebrity aspect when for the longest time that was the main selling point. Step in the right direction, Phil is obviously polished...I just wish Phil were more involved as the "face"
