Saturday, April 15, 2023 8:13:06 AM
They've poorly managed assets
Poorly managed opportunities
Poorly managed operations
Poorly marketed the company, private or public.
Early on, FUNN was successful in creating; what ended up being a false narrative, about potential and opportunity.
That's when there is a lack of execution. Literally, only 1 business opportunity was viable - the S&L cafes. The rest were smoke and mirrors.
And, now, minority SH are in so deep from years of being scammed - that they hold onto their massive losses - and pray.
The only way FUNN survives going forward is if they
1. Secure a massive low interest loan that will pay for:
5 years of a CEO with experience in the restaurant biz AND Franchising
5 years of accounting services for unaudited financials
5 years of audits
2. close down Provo, ChiTown, and 1 or 2 Toronto cafes. The rationale for closing down 1 or 2 Toronto cafes is to get rid of the biggest money losers for those 3 sites AND Create a situation where there is greater Demand than Supply. We are not talking rocket science here.
3. a big enough of a loan to open 2-3 cafes that corporate can own and cover operational expenses for the first 5 years of operation. The other option is to approve more common shares for fund raising; which will pretty much destroy current Minority SH value.
FUNN needs to cut expenses - especially for payroll.
FUNN needs to find a way to turn tables over sooner than 1x/2 hours
FUNN may need to increase patronage by introducing other forms of entertainment that will draw customers into the cafes - showing college sports and merchandizing to local tastes.
FUNN is in the restaurant biz.
Sell Food
Sell Alcohol
and Entertain.
Again, since they have pigeon holed selves only in board games - they will need to turn tables over sooner - or find ways of getting those customers to purchase more food/alcohol per person/per group for those two hours of time.
Only FUNN knows (or they should damn well know) how many tables need to be filled each day to turn a profit. They should know those numbers for each site.
Everything posted is MY OPINION! I am making NO buy or sell recommendations here! DO YOUR OWN DUE DILIGENCE!
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