Will Uplist actually happen? NO Audited FY19 financials. FACT
Minority shareholders will be lucky to see an unaudited FY19 filed on time; which is due 9/30/19. CEO should file unaudited FY19 simply to get DEFUNCT/STOP sign removed by OTC Pink.
Uplisting and selling of franchises require an audited FY19 financial, so, most doubt CEO doubt can get er done by 9/30/19. Yep. All the CEOs fault, and noone else.
The audited FY18 has now been going on for 11 months; and I doubt CEO will release before 9/30/19.
FY18 is pretty meaningless anyway. I doubt CEO will be able to complete an audited FY19 by 9/30/19. It isn't CEO strength, as history shows.
Not sure Why CEO has chosen NOT to file Definitive Material Agreements with OTC Pink Market - as that information would answer the public's questions and minority shareholder's questions. So, why hasn't he already done so? Hmmmm...
Peeps shouldn't and wouldn't have to ask these important questions if CEO was being truly transparent. And, there is ZERO reason why CEO shouldn't file this information with OTC Pink Market for all to see. What is he trying to hide?
FY18 and FY19 Financials Set to Disappoint Market?
CEO is vague on purpose as fake positive news benefits majority shareholders and not minority shareholders.
CEO is obviously trying to portray "growth"; since BUTT FUNN's cafe growth rate is ~1 opening/year. However, we know FUNN's Subsidiary Snakes & Lattes only owns 3 Canadian cafes and 0 US cafes.
I don't think the Market believes for one second that a private US investor who finances cafes at 100% is willing to accept less than 90% ownership. FUNN owns 0 US cafes. Minority FUNN shareholders should demand that CEO publish the Partnership Agreements or file a Definitive Material Agreement with OTC Pink Market.
FACT
To date: CEO has published 0 Partnership Agreements
To date: CEO has filed 0 Definitive Material Agreement w/ OTC Pink
The all cash acquisition of the bankrupt Morning was completed May 2018; and should show up in the audited FY18 financials. FUNN likely took on Mornings debt. Noone knows if CEO has skill to turn a bankrupt company into being a positive net profitable company. CEO has no record of being able to do so. Will find out in the audited FY19 financials though. IMO, CEO is more likely to fail than not.
All the BUTT FUNN forecasted board game revenues ARE ALL FAKE BS RHETORIC. What is FUNN supposed to do? Say they're continue to lose money from that subsidiary? RFLMAO
Only the Canadian Midtown cafe opened in December 2017 (FY18)
S&L Midtown Opened December 2017
The Tempe Cafe (privately owned) opened October 2018 (FY19)
Privately Held Tempe Cafe Opened October 2918
And now, CEO is growing by acquiring existing sites and converting to a S&L cafe. CEO has purposely revealed NOTHING; but I suspect that it involves FUNN shares AND eventually dilution. Noone even knows if this particular gaming restaurant was positive net profitable or not.
Unfortunately, noone will know until September of 2020; at the earliest.
IMO, FY18 and FY19 will disappoint the market with it's lack of growth, increased debt, and likely increased negative net profits.
