Lets assume that FRCN had a large contract and it the payment was due a week or two after the filing deadline. I understand that FRCN would choose to pay the employees salaries and overhead and take a small daily fine for the late filing. Yes, it hurts us as investors but I can understand the logic. Payroll has to be met and the filing can be next week. Everyone here will recover and be fine. I also would like to point out that they havent gone to the capital markets for money---share selling or toxic debt- the likes of which they just got out of with Asher. Yes, its frustrating and boring but the tide will change soon enough. Remember they pay the cost of the job up front and sometimes don't get paid for 60-90 days after contract is completed. Lets give them the benefit of the doubt for now.
income, yes, but since it is a % of what the franchisee makes, etc, it is a bit more complicated, not sure how that works with audited financials etc, guess we will find out soon
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