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Monday, March 20, 2023 12:57:24 PM
"Snakes & Lattes Inc. financed the acquisition through non-convertible promissory notes with a 5% interest rate and friendly repayment terms. The notes do not have a convertible feature and no common stock was associated with the financing."
It's been said for years that the company has to dilute us sharehreholders when they open new locations. The reason is always that they can't get bank or low interest rate financing and how it was so terrible that they couldn't just get a loan to buy a new location instead of diluting stock. Well, this one is different since they got this done with no dilution. Nothing. Nada. Zero. Zilch. And the loan they got to buy it for cash? At 5% interest!
This tells me they are doing much better than before, and if they can get locations bought for just 5% loans, that means they can start doing more than one new location every few years. That's probably why they said they are looking at various new locations this coming year. Financed at 5%? Nice! That means they now have a source for money, and can grow faster as they continue to grow in number of locations.
Good things to come, IMO.
$FUNN
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