Exactly. There's a big difference between using the money to execute a growth plan and using it to fund salaries for the next two or three years.
Again, I have to believe that the long term plan was not to oversee two or three locations. Gay, Kaufman, Michaels, etc would not have joined if that were the goal.
The most recent PR also stated that the financing would be used to advance the goals listed regarding expansion, so there's that.
I had been saying for months that spending money to engage Pacific Ventures or whatever they are called to discuss M&A opportunities was premature and a waste of time and (limited) money. The PR all but concedes this to be true. Down the line, absolutely, engage and acquire, but for now the goal has to be solely on growth.
CPK didn't expand into frozen food when it only had two locations -- it took a while to build the brand so people wanted the product in their homes. This is why I hope they don't use the money to acquire a revenue-producing company, yet, either -- they already have a revenue producing concept with the restaurants. Focus on that and the growth will follow naturally.
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