The texting company failed. With 765 clients in more than 950 locations and 7 of the top 8 Health Club Management Software (CMS) companies using their integrated SMS fitness solution, $TXHD was barely able to turn profits. In fact, most Quarters it lost money.
See the losses per Quarter going back to 1Q2014.
The worst part from a business perspective is there was no longer room to grow. Why? 7 of the top 8 Health Club Management Software (CMS) companies used their integrated SMS fitness solution so there were no big players remaining to expand into.
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"... In the past 4 years, we have grown to over 765 clients and more than 950 different locations in the United States and Canada. We have achieved this with an expanded focus on a variety of industries, including restaurants, retailers, entertainment venues and other partnership opportunities. We have decided to focus our energy on the gym, health and fitness club market. However, we are also working with Quick Service Restaurants (QSR), Beauty/Tanning salons, hospitality, entertainment, digital marketing and sporting events.
...
We can produce a new API in 2-4 weeks for each new client. We now have 7 of the top 8 Health Club Management Software (CMS) companies using our integrated SMS fitness solution. There is no other automated health and fitness solution offering a completed end-to-end solution similar to ours. We now have access to more than 25,000 health clubs in North America and will focus on converting new clubs to our solution in the next 12 months. ..."
The smart move by $KOAN is to spin-off the texting company. It will go through a Chapter 11, and probably eventually Chapter 7. However $KOAN won't be financing that legal paperwork if the pre-bankruptcy plan is implemented correctly.
Hahaha, many traders have stated the need for more shares. Now, having issues ONLY 3mn shares into the OS in two years is VERY-atypical of ANY OTC you can name almost 2 years after an RS. In fact, you can’t find another for comparison, lol!!!!! Koan $$$$$$$$$
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