Lets get to the point.
- Stores are barley profitable
- We borrowed Approximately 130 million in the fall of 2021 which comes due in 2026.
- IRS Return of Approximately 56 million coming back to us.
- A&M has not implemented any strategic changes that is showing value.
We have a few options left to us. We either continue on this path of barley making enough money to cover expenses or we file chapter 11 and reorg. Our current stock price as of this writing is 0.81 Cents. Unless there is a hail Marry pass to the likes of GME where we increase shareholder value and then have the company sell shares it holds or issues more shares to drive the price down and pay back debt. We are up sh-t creek without a paddle. However by some miracle if we continue through 2024. The cost saving measures should come into effect starting in 2025. However realistically that is not going to cut it.
If we want to be profitable and change direction I'm afraid it may be a little too late. We need a leadership team that can come in and say no and gut the bloated SaaS Costs, Redundant software costs, cut licenses and get business back to some what of a profitable business model.
Now at the same time projects being implemented also come at a cost. A cost associated with A&M savings that they capture along with overhead from the companies were partnering with. If we make it until the end of the year without filing for bankruptcy I would be highly surprised.
However it can be done, hopefully we don't have to go to vegas like Fred Smith... I like the brand so I'm going to buy and HLOD. I think you should too :P