No he did admit that he was in over his head and wasn’t equipped to run a public company successfully. A little to late to admit that for investors that lost money. The concept was great and the Miami location was successful. The company tried to expand too fast and without the up front capital for the long term needs of the company. Happens to a lot of restaurants and those aren’t all scams. It’s a tough industry and even people with decades of experience can fail. I think the next time around they learn from mistakes and this thing has a better chance at success.
Management announced a couple new locations and a franchise model and the share price exploded. Those investors that bought during the hype lost virtually everything. Management suckered in a lot of people including the current CEO who lost more than all of us.
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