My simple reply is - if enough money is raised they WILL open stores. As the alternative is an extremely pis$$ed off shareholder base that would sue.
With this rinse and repeat tactic of stealin shareholders money and NOT expanding, then they would likely lose and could face jail time.
Let me ask you, is there such a thing as legally stealing ? You think Gay wants to go through that right off the bat ? WHY take one for Joey ? What is Phil getting out of it besides 900k+ worthless shares ? He's doin all this for 5k/mo ? Really ?
C'mon ShortsFail - what is in this for Gay ? His comp since 2015 was strictly in restricted shares...even Triple Enterprises was paid a portion of their 60k annual sum in shares in 2017. Why agree to that ? To have them be worthless a year later ? I think not
Both of these "fools" have ALOT of shares, common sense would say that they would do everything to have PPS go up. Watch this change direction after the offering...watch Joey gobble up at least another 3M shares - would make it over 29M folks. This goes anywhere close to 25 cents and he's one RICH fool.