Momentum
First off, been a shareholder and PKG believer for some time.
Seemed like a few months back company had great momentum, but even though they're doing well and making good moves while not creating much dilution for shareholders by being financially disciplined, seems like momentum isn't quite up where it should be for the "on-demand delivery" phenom that is happening "now" all around the world. Would almost prefer for them to sollicit more capital despite dilution while gaining major momentum and market share now and not when competition will become too fierce in this fast growing market segment ...unless they actually get bought-out by a bigger fish in this very market in the meantime?
Next earnings will be interesting to see where all the more recent deals and canabis open market (Choom, TokeIt, etc...) are bringing the company, but would like to see lots more roll-outs and regular news of substance.
Also, originally it seemed to me that the business model was based on using third-partys to use their vehicles to make deliveries so they would not need to handle infrastructures, buy equipments or directly hire delivery employees, more like an Uber/App would or all other large Apps (biggest library doesn't own any books - Google, biggest hotel chain does not own any hotels - expedia/hotels.com, biggest cab company does not own any cars - Uber, etc...)
Now, it seems like they're providing vehicles and hiring direct employees to try to establish themselves and gain participating merchants in the 4 markets they're currently conquering. This seems to make for financially sound company development, but also slowing things down and costing more per delivery which might not attract businesses and users as much all the while not capturing market share as quickly as they should in this fast developing segment of on-demand delivery. It seems like the busines has evolved in a way that would have been great in the "old economy", but perhaps not as efficient in the way the world works nowadays?
Don't get me wrong, I like everything that is happening, but questioning the evolution of the business model and worried they might not capture markets quickly enough. The way the business model has evolved seems to have put a damper on scalability and exponential growth.
Feel free to share your inputs or correct me how you see this yourselves.