Los Angeles, March 05, 2019 (GLOBE NEWSWIRE) -- Giggles N’ Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, is pleased to announce that it has regained requirements to resume trading on the OTCQB effective at the opening of trading on Tuesday, March 5, 2019.
The temporary delisting and other issues were discussed on a recent investor call hosted by Company management in February where co-CEOs Philip Gay and Joey Parsi discussed recent financial results, including for the third quarter of 2018, as well as amendments to the company’s crowd funding campaign, new initiatives, and other topics.
A recording of the call is available for on-demand playback: https://fccdl.in/xiOno1zeIv
Joey Parsi, Founder and co-CEO of Giggle N’ Hugs, commented, “We’re excited to have amended and relaunched our new crowdfunding campaign. We believe the relaunched campaign, with new and amended terms, will make it simpler to understand and more attractive to potential new and existing investors, positioning the campaign for success.”
“In addition to our marketing campaigns benefitting from improved geographic targeting, thanks to location-specific campaigns, we are also looking at alternative methods to market the campaign, which may include social media, and Email marketing as well as other avenues,” continued Parsi.
During the call, the company also discussed recent mergers in the mall operator space that has taken place and the subsequent short-term impact on discussions for new locations. Discussions have continued, and with the required capital in place from a successful crowdfunding campaign, the company believes it will have opportunities to pursue attractive allowances to open new locations, despite the current quality of its balance sheet.
In addition, during the call, the company discussed engaging one of the top business brokers in Los Angeles and has been introduced to potential candidates, for acquisitions and or JVs. Discussions are early stage and the company may not close on any of the transactions for several reasons but if successful, it could be very positive for the company. Additional announcements will be made as talks progress.
The same business broker has also been tasked with finding an investor and/or investor groups that could potentially become minority or majority shareholders, with an investment that would provide the necessary expansion capital to execute on previously announced plans. The engagement is early stage and no parties have yet been identified.
The company also discussed how the weather can have a significant impact on the companies revenue and profitability which is why the company looks to expand into markets like Seattle and San Francisco, and other markets throughout the country with extreme weather patterns as compared to southern California.
“We are thrilled to be trading back on the OTCQB and look forward to updating you on all the above topics as soon as any progress has been made, Parsi Concluded”.
About Giggles N’ Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"). Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.