Brief notes form annual meeting:
The meeting was very low key and enjoyable, I guess that is what these meetings are like when all the news is good. CHGO up to about 2000 employees. Looking for more locations in Southern California, Northern California, Arizona, Colorado, Nevada. Plan is for about as many new locations next year as this year. As the company's base continues to grow, at some point this growth rate of new locations can be accelerated. Jacmar is simply considered a wise shareholder.
With respect to the warrants, they do not seem to be of paramount concern right now, management's focus is on execution. If the stock price gets into a range where the warrants were exercised, management does not seem to be concerned about a lack of opportunity to put the funds to work to grow the company MUCH faster. Regarding if the stock price goes over $7.00, it would trigger a board meeting, but there was no speculation about what if anything could or would be done.
In my opinion, CHGO has evolved into a reliable and growing cash machine. |
