The_Market_is_Expecting/Demanding_That_CEO_File_FY18_and_FY19_Audits_By_10/15/19
And minority shareholders too.
The Market has already dismissed the FY18 audit; as it has been rendered meaningless by the 1 year old tardiness.
But FY18 will definitely show increased debt, worsening negative net profits, and likely more dilution.
The Market knows that the FY19 audited financials will reveal some details of the Partnership Agreement with private investors who financed the US cafes at 100%; and are wholly owned by private entities.
Can't grow revenues or the top line from cafes, when FUNN doesn't own any US cafes.
BTW, CEO has pretty much red flagged board game sales at cafes. The games aren't selling well from cafes at full msrp. Noone wants to buy games at full MSRP after spending $200+ for four on fees, and overpriced food/drink. And, it's one and done. Most one time customers will stay at home to play games with family and only spend $50 on quality food/drink.
No Brainer there.
App will be a failure, because FUNN is a one and done kind of place and 3.2+ million Torontonians and 185k Tempe residents will never visit the 3 Toronto cafes and 1 Tempe cafe; respectively.
37 million canadians and 327 million US citizens have never heard of S&L and will not be downloading S&L's useless app.
Wally will do no marketing for specific FUNN board games.
Board games are selling poorly at the cafes hence the gift shops that will sell low margin products. The fake rhetoric regarding the alleged popularity of the cafe doesn’t bear out with creating a gift shop using the reallocated footprint of the cafe. If the cafe is allegedly as popular as being put out as fake news, CEO would have used the reallocated space for seats. But he didn't do that. The space went to the gift shop.
it takes so much more than "winning" useless "free" things to make an app successful.
The app will be a failure. The demographics of customers will likely show that the majority only go once, never to return because S&L is a novelty
Those same customers won’t bother with an app.
How many people in Canada or in USA will download an app for S&L when all 3 Canadian cafes are in Toronto and only 1 USA cafe in Tempe? Not too difficult to conclude that there is no reason for people to download a useless app
Sure, there will likely be the rare fan of FUNN who will become a regular customer, who uses the app. Perhaps a person who will pay $5 cover, nurse a glass of water for 3 hours playing a game of solitaire and accompanied by his/her stuffed animal friend pigic***
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