Limited advertising is a business model problem.
Two CC locations opened in the Fall of 2013 with significant marketing support as you note, some of it likely 'funded' by the Oct 1 2013 deal to exchange stock for advertising. I am guessing the resultant enthusiasm caused the JV partner to plan a third store -- and if I read the financials correctly (and I could have it wrong), have equipment bought for that store.
I am guessing that as initial advertising dried up -- insufficient margins to spend on ongoing advertising -- so did revenues and the JV partner's enthusiasm. Although, could also be that the JV partner had separate calls on his financial resources, or found superior investments.
Investors have never been told why that store didn't open, nor have they been told why stores announced for NJ (1 announced) and AZ (five announced, two opened and then closed) did not open. But, not many companies do explain such situations.
A placeholder for the third SW FL store remains on the BCCI website, suggesting either optimism or a lack of ongoing website maintenance, take your choice.
With respect to ice cream, I'll provide data, you can decide if success or failure:
- 5M shares were issued to set up distribution, or $500K worth at the time of issuance in Q2 2012. Ice cream was on the Q3 14 balance sheet as an 'intangible asset' at $125K.
- The company has never published its ice cream revenues number, which I would have expected had they been significant -- and they could have been, given the announced 200+ stores in which it was initially distributed in the NY metroplex.
- Ice cream is not mentioned in the company's 2014 registration statement.
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