Hate to say it, but it sounds like desperation.
They are stalling because most likely there was never any intention on their part to do a deal for Giggles n Hugs. If the LOI is nonbinding, may as well get some free publicity out of it. Again, this is Joey showing his inexperience in not vetting the partner's interest before signing an LOI.
It did, however, give Joey an out to sell his shares on the price spike.
But like I said, ultimately, the idea is popular enough that I think it will expand. The problem is that Joey is incapable of securing cheap financing. And if he wants to grow, it's going to cap the total value of the business. I can see this maybe getting back to .25. I don't see this stock ever getting to .75.
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