Before SIGNET (see the drop down tab) decided to let their company and share value drop by BILLION$ rather than take my offer. Before that happened (And many who know our mold technology was used to make confections back in NY) we tried to make contacts and a working relationships with others in our industry. HERES A DOOZY! Most who were around during that time knew about and for those who don't here ya go.
-
Back to 2013, GNGR made contact with an investment group who (if I recall) was made up of a group of 12 doctors in the NY area. If I recall they each invested $1,000,000 into their investment group with $12,000,000 they wanted to look for companies to invest in. I heard about them and made contact.
-
I told them GNGR is a small public company but at the time we were expanding with interest from BJs wholesale clubs and wholefoods (We had retail merchandise in numerous company stores in the NY area) We needed to raise capital to expand into the stores nationally.
-
My offer was simple and would not risk all their investment. I believe I told them I would give them an offer if they invest $3,000,000 into GNGR to fill the larger orders we had, GNGR would not only repay them in full plus an attractive profit, GNGR would issue them a large block of shares (not sure of the amount probably 100,000,000)
-
In the discussions, the man I spoke to kept telling me about their interest in investing into CRUMBS bakery (stock ticker CRMBQ). He said they may want to invest all $12,000,000 into CRUMBS when at that time CRUMBS was about $3.00 per share. HE said to me "it's going to go to $20 soon". I said really?! How do you know that? He said he can't comment on that. I told him if he invests all the $12,000,000 for 4,000,000 shares at $3.00 he is going be sorry because I recently read articles that people who walk by the CRUMBS stores don't want a 3000 calorie basketball sized cupcake!
-
He said he would call me back. WELL HE DID and said he spoke to the other investors and they decided to invest all $12,000,000 into CRUMBS (4,000,000 shares at $3.00) and when they sell it at $20 ($80,000,000) that he would call me and invest then. I told him You BETTER invest at least $1,000,000 with GNGR and only invest $11,000,000 into CRUMBS because when the SHTF and your $11,000,000 is GONE you will at least know that having 100,000,000 GNGR shares at even just $.12 cents you'll at least make back your CRUMBS loss. He (if I recall) said WHO THE HELL ARE YOU? Your just a little NO NAME candy store, CRUMBS is well known etc. etc. etc. (The usual degrading comments about GNGR)
-
My last words to him where, YOU guys are going to be SO angry that I would hate to be one of your patients next year.
-
Move ahead to 2014 HE was RIGHT, CRUMBS did hit 20 only it was NOT $20 it was .20 CENTS! And soon after that it tanked to $.07 cents. CRUMBS put stickers on the stores soon after they invested that said CRUMBS it out of business no one will be getting any paychecks (something like that)
-
Once the stock hit $.05 the investors 4,000,000 shares they paid $12,000,000 for was now worth $200,000 with NO bid. Today the same $12,000,000 is worth $12,000 and they still can't sell it.
-
I heard after speaking to some guy who knew about this that they got some $$$ from the bankruptcy but was nothing even close to their losses. I did get a call from the same investors who said they want to invest NOW into GNGR. I said REALLY whats your plan. He said $100,000 for 90% of GNGR!
-
I said SURE ill get back to you then hung up. Never spoke to him again.
-
I could write a BOOK about all this. And I might just do that.