Grilled Cheese No-Bubble?

To quote the article:

…with the goal of becoming the largest operator in the gourmet grilled cheese space.

Surely we should have known there *was* such as thing as a “grilled cheese space”?

That said, I am a big fan of food trucks – they are very successful at a Mom-and-Pop entrepreneurial level, serving urban communities. In Michigan, food truck environments in Detroit and Traverse City have been wildly successful. Most of these entrepreneurial efforts come about as a love of the labor, and the owners pride themselves on a down-home, “real food” emphasis as opposed to marketing $20 Ramen Noodles made from Ostrich ligaments, sprinkled with leftover gold glitter left over from Kim Kardashian’s reality show pilot.

But this here business model represents the usual market excess + have-pulse-will-loan mentality + the irrational entrepreneur banking (pun intended) on profiting from the infantile behavior that litters the landscape of American society. The misguided “entrepreneur” who selects a business model such as this, however, forgets that fads driven by false market signals and faddish infantilism always reach a “the novelty has worn off point.” Hence the cupcake carnage. It’s akin to the child purchasing an “I’m With Stupid” t-shirt, because he’s driven to giggles by wearing it one time, and one time only. Then the novelty dies. And the real funny part is that Wall Street used car salesmen will throw a hunk ‘o love at these novelty IPOs.

Thing is, former NATO commander General Wesley Clark owns a 5% stake in the company and is Vice Chairman of the Board. A further look finds a 10-Q filing from 2014 that indicates that the company will not be able to continue as a “going concern” due to the incurred net losses and working capital deficit. That’s CPA-Speak for “yer effed.”