pps spike likely due to Market anticipation of fluffy forward looking PRs from FUNN Execs that we will likely see from FUNN execs; similar to the post below.
Looking forward to excuses and more fluffy forward looking statements; and some kind of recycled statement on how FUNN Execs have put new accounting SOPs to expedite submitting unaudited financials and/or audits in a more timely manner.
and the forward looking projections in revenues likely won't be reflected until March 2022 which is when unaudited FY22Q2 quarterly results are due.
Yep, they're "reopening" in Toronto; but with vaccine cards being required and only 37% of college age Canadians being vaccinated - I would say it's more likely that the 3 Toronto cafes will fill seats up to pre-covid capacity.
forward looking statements.... :)
I think people are thinking incorrectly as to what is going to be reported on the upcoming earnings. That could lead to wrong thoughts when the earnings come out. This shows what I mean.
"IMO going to see a surprising Rev uptic with all these restaurant’s serving customers"
The earnings coming out this week or so are for the period April, May and June. NOT for what we are doing right now.
In April - June, all three restaurants in Toronto were CLOSED. For the entire period. Tucson was CLOSED, not open yet. Chicago was barely open, with restrictions on party size and sitting. Tempe was open, but ASU was closed. So where is all this revenue coming from? YES, we DO have it. NOW. But the earnings being reported are not from "now". If you think so, and revenues come in low, you might be disappointed for the wrong reason. If earnings come out and revenues are fair or even low (as I suspect they would HAVE To be, since the cafes were CLOSED) I don't people to think "oh no, they are NOT doing well, even with the cafes now open." That is NOT what is being reported THIS time. This is for when we were mostly CLOSED.
All the restaurants serving people? Yep, they ARE. So get excited about the NEXT earnings update, for THIS quarter. Just don't think what is being reported now is for the period when they were open. Fair?
Thanks to us being open finally in Toronto now, I am expecting GOOD news from here on out. I expect mediocre revenues for this reporting quarter (did I mention we were CLOSED during this quarter? Maybe once or twice. HA.) and an expanding revenue for this current quarter, since Toronto is now open, as is Tucson and ASU. But it will get better after that too. (Assuming they don't close things again, which is never a known thing)
Here's my thoughts on revenues and earnings for the near future:
I expect low revenue this reporting, since it is for April - June and we were hardly open. Then, for the first quarter of FY22, which is July - September period, which will be reported in NOVEMBER, I expect revenues to pop up as Tempe did very well but ASU was closed for about half that time period, Tucson opened for PART of the quarter, and Toronto opened for PART of the quarter. All revenue that was not part of the quarter about to be released though, so revenues UP for FY22 1Q. Then, the 2Q period of October - December 2022 will have Tempe and ASU open the entire quarter, Tucson open the entire quarter, Toronto open the entire quarter, and Gueph open for part of that time. Chicago doing better too. Call it firing on almost all cylinders. As we are right now. I'll also go so far as to say I expect a positive NET earnings for that quarter. I think we are finally at the point where we have enough restaurants open that the profit for each one should overpower the operating costs on the corporate level and we should have net positive earnings. That won't be released until February, for the December quarter, but let's see if we can do that. NOT the quarter coming out this week though, since most of our cafes were CLOSED during this reporting quarter. For the 3Q and 4Q of FY22, I think we shall see solid numbers, GOOD revenues, and by then we should be back o the path for more expansion. They are focusing right now on getting these restaurants back up and running (been only a month since Toronto opened gain) but expansion should start again in 2022. That would mean a future of more revenue, more cafe profits to offset corporate overhead, and a higher net profit. SO the future looks bright to me. Which is why I've invested in the company. But the fact that earnings are reported after the fact, and 4Q always well after the fact, makes people confused as to what to expect on earnings releases. I think this upcoming earnings report is the last one with bad (comparatively) revenue numbers, since we were CLOSED for this period, and the future looks bright after this release. maybe that is why people are buying the last two days. I don't know. Maybe because they know all signs for the FUTURE look up from here, so they want in as the bad news is flushed out and the good news becomes the present instead of just some future fantasy. We ARE open, not going ot be open, in Toronto X 3, Tempe (With ASU open) Tucson (With UA open) and Chicago. Gueph is shortly to open, as they started training staff on September 22 as others have pointed out. The future is HERE, after this report. But this report will not show cafes open, nor high revenue. Don't be disappointed when the report doesn't show the revenue you want it to, since it is from APRIL - JUNE, when Toronto, Chicago and Tucson were CLOSED.
Everything posted is MY OPINION! I am making NO buy or sell recommendations here! DO YOUR OWN DUE DILIGENCE!
