Quietly, It's DoneAccording to SEDAR, Spot has released/published its 2nd quarter financials on August 30. Highlights include:
o for 3 mths ending June 30, 2018, a gross profit of $1.5M
o Net income for same period was a loss of $92K
o However, ending 6 mths, there was an NI of $5.4K
o cash on hand was $26K
For those that are interested it was reported:
"SPoT has a total of twenty-four (24) cafs currently operating, in development or under construction in the states of New York and Connecticut, including five (5) corporate-owned cafs located in Buffalo, Rochester, Saratoga Springs and Glens Falls, eight (8) Operating Franchise cafs in Orchard Park, Kenmore, Hertel, West Hartford, Hamburg, Clarence, Williamsville, and Waterfront Village, five (5) Express cafs operating under license to Dash’s Supermarkets and to Chartwells at the Buffalo State College and six (6) franchise locations being developed and under construction."
Not encouraging but still begs the question why is the CEO still buying. There's a gap that a MAC truck could go thru between his buying and the results/communication.
No stockhouse NEWS on the release, NO website news just SEDAR. Not sure what they are trying to prove with their lack of communication other than not good stuff. Certainly not encouraging if you were a potential franchise buyer if this is how they are operating and communicating.