Lack of vision. By firing the founder Danny, they lost their creative and cheerleading capabilities
They are far from being cash flow positive and may run out of cash before they get there.
Their main product was cartridges. They are now out of that business and are relying on filling machines and capping machines. The profit is in selling many low margin cartridges.
They have less than $500k with a burn rate in excess of $1.4M?
They are laying off staff and placing sales people on commission only plans.
The management team is terrible. They have no vision, they don’t understand the market, and the behavior the management team is displaying is discouraging.
They haven’t delivered. They lost their largest customers. Employees are afraid of their customers and have no faith in the management team.
The founder had a great idea, but the execution has been dismal
Recent JKSM News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/19/2024 08:45:39 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 08/14/2024 08:00:23 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/17/2024 08:00:37 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/10/2024 09:00:22 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 12/21/2023 09:00:34 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/06/2023 09:00:31 PM
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