Once RJ's 10 MILLION hearthstone debt was paid off by bagholers, you quickly saw RJ's sentiment change... Last year RJ trumpeted "future is looking wonderful", "i'm more optimistic than ever" "i'm doing a full court press" "i see green shoots coming".... BUT after his debts were paid soon came phrases such as "implementation taking much longer expected" "our plan is only working in isolated pockets", "the pope sunk us"
a $4 mill cash loss just reported. and the winter months are gonna be horrible . And yet here's RJ blabbing "we still have many bad stores, and we will come up with yet another plan in the future" ... So after 1 1/2 years, there's still many bad stores? The only thing this clown has improved is his personal bank account. His only plan is to keep up the salary gravy train for as long as possible. I suspect RJ's crew will have one last whopper of a Christmas party and then bankruptcy in 2016... RJ's goal is to drive this into BK and then he will lay a claim in court for a $500,000 exit bonus... hahah
he says another plan is coming for next year.. hahah. HE already BURNT off $30 mill cash with his last plan. hahahah..
Sentiment: Strong Sell
cash only lasting another few months. bankruptcy on horizon. more weather excuses coming. The last 30 mill capital raises have been squandered recklessly.. I'm amazed the SEC doesn't investigate this. No more capital raises are possible, they've failed so miserably only a total manure brain would invest more cash in this.
Burned $6M last quarter.
From $14M down to $8M and burning $2M per month during the "good" seasons.
It's because of all the new shares diluting the NEGATIVE EPS figure. LMAO!
Makes no sense for the stock to be up this morning. They announced they would remain a cash burner after claiming they would be cashflow positive in 2015.
gonna be ugly in the cold months since most of cosi stores are in the northeast blizzard/noreaster belt. I calculate around $40 MILLION cash burnt off by RJ in the 18 months he's been here... that's over $2 mill a month. I said 2 years ago that COSI should simply go bankrupt and of course I WAS RIGHT. Bankruptcy is the only way to clean house, quickly close 1/3 of stores and cut down the large lease obligations. COSI leases alone are $40 MILLION . Every year for 12 years+ cosi has lost MILLIONS every year of existence.. SEC shoulda raided their offices years ago and shut it down as a Ponzi. COSI has NEVER been a valid public vehicle. This coffee/sandwich loss machine should be delisted from the public markets and run by private investors... let the private investor fools lose $10 million a year..
everything outa RJ has been a lie.. he's nothing more than a self-promoter who is protected with millions in officer liability insurance. he could say the sky is green, and the morons would believe him. Like I've said before , COSI should have gone bankrupt over 2 years ago... but hey that would interfere with the large manager and executive salaries... and the fancy catered board meetings and open bar
totally predictable by me. You clowns buying at 2.50 in early 2015 failed to listen MORONS. RJ is basically "going back to the drawing board" after already wasting $40 million shareholder cash.. .. where's those "green shoots" RJ? all I see is poo p shoots
hey why not waste another $300k on another wild partying boozing investor conference? all FREE conference food paid for by bagholers. RJ gonna lavish it up while stock at all-time lows.. hubris knows no limits here... JAIL TIME needs to come for RJ and his merrymen
they average $1 million sales per store and after 13 years these clowns have not yet figured out how to make a 1% profit outa that $1 mill sales. On every $10 lunch these idiots sell they lose at least $1... lol. It amazes me how the SEC doesn't raid the offices and liquidate this and throw RJ and crew in jail. With each store already having $1 mill sales/yr, there is no room for sales to grow.. each store has already reached capacity.. The real issue here (which is NEVER addressed by RJ or any other ceo) is the non-existent gross margins and wildly high fixed overhead. Way way way too many middle managers/head managers/executive managers/ Advertising VPs/Food VPs/ Executive presidents of toilet cleaning etc.. these wild salaries are never addressed.. just one big party on the inside. I wonder how many executive/manager homes and Mercedes have been paid for with shareholder funds over the past 13 years?
RJ is an absolute joke, he should be terminated(obvi wont happen). Just move over to PacSun PSUN if you really want to make it big.
Im talking technicals here..Like u are completely irrelevant in LIFE.
Sentiment: Strong Sell
Cosi will continue to dip further, I will be in this at a later time period. Get into PacSun for now and make a killing as the .37 resistance will be shattered the next time around.