took a while to get back to you.....underwent a bit of surgery yesterday and still trying to figure out how to get around and sit. but in answer to your command:
P&D in short.
previously, one debt holder and major stockholder bought out andonther debt holder and tried to take action against the company. nrom filed defense and settled short of a takeover and liquidation. simultaniously with the settlement they announced a revised business model (similar to the present).
if you remember those days, penny players piled into anything that showed promise and the pump was on. new franchise sales came in every quarter and the pps rose to option level and growth accellerated and former debtholder were selling off shares and penny players were soaking up the shared and more franchises were sold and on and on as the major legacy holders sold off.
that was a good market back then.
then, the acceleration of growth slowed a bit and with the selling pressure of the legacy shares and the souring of the market the rats ran for the exits along with a class action suit on behalf of a bunch of franchisees.
crash.
since then, sales of franchises has continued to decelerate until this year. they succeeded in the class action suit and are now awaiting final judgement on their counter suit for frivolous litigation.
that's it in a nut shell. whether the present business model gets them to the promise land or not is still up in question, but with the resolution of their countersuit tomorrow and the reacceleration of franchising, it seems like it may be worth a little bit of a shot.
