Sonata, don't worry about what others say on this board. Generally, the boards are used by other investors trying to convince themselves that they didn't make a mistake. Or, by public company representative (e.g. IR firms) shilling for the Company.
If you are open to someone else's perspective, I'll share mine. Let's start with management. NY is a vending machine salesman. His one and only objective is to think of new and exciting ways to get people to put money into the Company. Plain and simple. Nothing more, nothing less. You needn't look any further than the newly created 19 degrees entity. Instead of going in as many directions as the company is, how about focusing on getting machines delivered to franchisees, and more importantly, getting locations for the machines. More about that shortly. I would get into the recently demoted CFO, but that speaks for itself.
Next, let's talk about production. The company and fellow posters here can deflect all they want, but the bottom line is that the responsibility falls directly on the company. Whether the problems are in-house or with vendors. And, the company has had what, three years since acquiring the technology to design, engineer and manufacture the machine? That is way more than enough time to work out any problems and efficiently and cost effectively produce the machines. Another question not broached on this board is, does the company even have enough assets or the ability to get to all of the machines built? However, the production issues are all secondary if they don't have enough locations secured for the machines. Anyone here know how many locations are secured? The company has an agreement with a company, which I believe is called Compass for the placement of machines. But, that's just another hand in the pocket of the franchisees since they would have to pay for space rent and a percentage of sales. Talk about squeezing the franchisees.
Lastly, some posters refer to the company as a "start up." That is not an accurate portrayal and misleading. The current franchise concept may be different from the one before, but this company has been a franchisor of vending machine for about 7 years. Just because they moved on to another concept doesn't make them a start up. Now, I'll tell you what I think the future holds for the frozen yogurt concept. IMHO, all you have to do is look no further than a company called Fresh Healthy Vending. Sound familiar? It should. They effectively recently put it into bankruptcy. So, I'll call my shot right now and give what is strictly my opinion. Some franchisees will do relatively well, and you'll hear plenty about or from them. Most of the other franchisees will fail in the first year or two. Or worse, just give up waiting before they receive a machine and demand and get a refund. Think about that one for a minute. Would you wait 1 or even 2 years with no end in sight? Of course not. The refunds could be a critical component and one to follow. That, and any litigation the company encounters from former franchisees. The number and length of the delays alone are enough to make some franchisees and investors wonder if the company is a scam.
Disclaimer: I am not an investor and only watch the stock for entertainment purposes.
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