Giggles N’ Hugs, Inc. (OTCQB: GIGL) Financial Review and Outlook
At a time when the economy is experiencing a moderated growth and many sectors are struggling to grow, one sector that has somewhat bucked the trend and grown rapidly is specialty & theme based restaurants.
In a short span of time, GIGL has been successful in creating its brand & niche in an industry, which is characterized by high brand mortality and strong competition. GIGL is now looking to expand, and wants to do so by way of a combination of franchises and company owned locations. Its rapid expansion plans along with the recent celebrity endorsement are the factors that are expected to provide substantial impetus to the business. The company is in talks with investment banks for securing more traditional financing options for the needed expansion capital.
On Feb 16, 2017, GIGL also announced that it repaid its 8% Convertible Noted issued to Iconic Holdings LLC. Management confirmed that Iconic converted the entire balance of their convertible debt holdings into common shares. There’s been some selling pressure on the company stock in the recent past based on this conversion, and the completion should serve to remove this pressure.
The company’s stock has unsurprisingly found enormous strength in the recent past. GIGL reported increase in the stock price backed by these announcements laying foundation for expanding its market size and overall business growth.
http://tradersnewssource.com/otcqb-gigl/
At a time when the economy is experiencing a moderated growth and many sectors are struggling to grow, one sector that has somewhat bucked the trend and grown rapidly is specialty & theme based restaurants.
In a short span of time, GIGL has been successful in creating its brand & niche in an industry, which is characterized by high brand mortality and strong competition. GIGL is now looking to expand, and wants to do so by way of a combination of franchises and company owned locations. Its rapid expansion plans along with the recent celebrity endorsement are the factors that are expected to provide substantial impetus to the business. The company is in talks with investment banks for securing more traditional financing options for the needed expansion capital.
On Feb 16, 2017, GIGL also announced that it repaid its 8% Convertible Noted issued to Iconic Holdings LLC. Management confirmed that Iconic converted the entire balance of their convertible debt holdings into common shares. There’s been some selling pressure on the company stock in the recent past based on this conversion, and the completion should serve to remove this pressure.
The company’s stock has unsurprisingly found enormous strength in the recent past. GIGL reported increase in the stock price backed by these announcements laying foundation for expanding its market size and overall business growth.
http://tradersnewssource.com/otcqb-gigl/
