Maybe they took the loan out so they could give more money to Ryan Kavanaugh?
Sorry, his deal is a thorn in my ass (so far) and I couldn't resist.
I agree we can all just speculate at this point, but I doubt (and hope) they didn't take out this loan for the new position! The posted salary before benefits etc. is about $100k annually. Also agree they already have more than this on hand so my guess is it's entirely for the new stores. The existing cash on hand is for the existing, continuing operations.
To back up my "theory", I looked into opening a "VaporFi" franchise. Keeping in mind the goal of opening 10 stores before the end of the year, check out these numbers:
Required Net Worth = $100k Total Required Investment = $89.3k - $159.8K
Sure looks like a million bucks would get you 10 VaporFi stores!
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