FFF,
Were you not previously aware that this is a very small company, with a very small market cap, trying to expand?
Also, you are asserting that the 504 is covering operating costs on the existing footprint of stores. Do you have any basis for this other than a hunch? Frankly, I suspect that you are in part correct. WNBD is not currently at a scale of operations where they can fund lots of advertising, inventory, etc. Then again, I think you will understand the company better if you think of it from a potential growth standpoint. There is really very little to be gained by comparing it to large, mature companies.
Wadi