get ready for 20 mill shares at $1 coming... general stock offering. gonna stink bad. medytox itself has probably $80 MILL in preferred DEBT .. and they even have $8 mill in IRS DEBT... they failed to pay their income taxes. hahh... real ethical firm eh?
KBIO is a criminal sham... and the cash balance is virtually WASTED... after you pay liabilities and shutdown costs, there is less than $1 left.. that much is true.. shrkeli will never make a financial deal again... the guys a clown. now KBIO is left with old management who burnt off 80 mill cash...
I'm sure he'll dish out nice bonuses to his management crew..even though results are worse than ever. Plenty of free cosi food will be doled out during their whopper holiday parties.. hey spare no expense for the great management team here.. they burnt off $40 mill in 18 months, so why not just let em burn off the remaining crumbs..
and God only knows how many thousand more in free sandwiches that RJ gave away at all the "investor conferences" this year. NOTHING is being done to improve margins... they need at least 15% gross margins to even have a chance, but current margins are maybe 1-2%... RJ found fools to give him $40 mill cash in 18 months, maybe the fool will find more gullible imbeciles to donate more millions
Thus I'm sure they were horrid. heck in the June quarter they LOST $5 MILLION alone. my guess is the sept quarter showed even bigger loss. they chose to hide this info as long as possible .
Sentiment: Strong Sell
how does RJ respond to cosi's down season? he gives away thousands of sandwiches for FREE... lol
"We gave away thousands of sandwiches over the three weeks, and we are thankful to all involved for making it a success,” said RJ Dourney
"One of the cornerstones of Così is to give back, with our time, talent and treasures. Our goal is to be a positive influence in the communities where we do business.”
IN OTHER WORDS, cosi is an ego machine for the execs and BOD, a non-profit organization basically. If you invest capital in the stock, you are really donating to the RJ fund.
under his "leadership".. hey why not give the schiester another $40 mill.. after 13 years these clowns still have not figured how to squeeze a 1 cent profit out of a cup of coffee.
NO THANK YOU... those DUMPING today are the only ones with brains. Until summer of 2017 all you'll have is endless exec salaries and parties
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?
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
all execs of mmms and clrx belong in jail. they need to rot in cells and eat their own feces for dinner. Anyone who owns this stock I hope you suffer severly. I am wishing the worst for you.l MMMS LOST $6 mill last quarter.. CLRX LOST $1.50 MILLION.. together they lost almost $8 MILLION in a lousy 3 months.. RNVA wil soon go back below 1... MMMS is loaded with $80 MILLION PREFERRED DEBT. this is bankrupt soon