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Saturday, January 23, 2021

Robust Demand for Giggles N Hugs Inc (OTCMKTS:GIGL) Stock

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Giggles N Hugs Inc (OTCMKTS:GIGL) is a penny player in the family restaurant space, that continues to excite the interest of OTC traders as the stock continues to show signs of robust demand. In our coverage of the stock, we have been expecting something on the M&A side. It appears that expectation was well-gauged, as Giggles N Hugs Inc recently announced that it has engaged PacificShore Ventures (PacificShore), a global specialty finance and M&A firm, to explore “potential synergistic acquisition opportunities”.

“Those that have followed Giggles N’ Hugs know that we have plans to develop and launch a full line of complementary merchandise under our growing brand. This relationship with PacificShore could help us jump-start this segment of our business,” commented Joey Parsi, CEO. “Acquisition targets that we plan to look at could include food companies, with established distribution, that expedite the launch of our frozen food line of pizzas, pastas, and other kids’ meals in which we infuse healthiness by pureeing vegetables and hiding it in kids favorite meals, similar to what California Pizza Kitchen and Wolfgang Puck have done with their frozen meals that are available at the local supermarket.”

Giggles N Hugs Inc (OTCMKTS:GIGL) frames itself as “the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children.”

According to company press materials, “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.”

Every Giggles N’ Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. The company gears itself toward allowing Parents to be able to eat and relax while “the kids have the time of their life.”

The company prides itself on featuring 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.

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“Because of the generous tenant improvements we are being offered by the biggest mall owners in the country, our focus is and will remain with opening new locations where mall owners pay for most if not all the build out costs, however we could also look at other play spaces that host birthday parties, children’s clothing companies, toy manufacturers, or even other restaurant concepts that could be either synergistic and or easily converted to a Giggles N Hugs location,” Parsi stated. “Our current plan is to have the existing management teams of any acquired company stay in place so that we are not distracted from our priority of growing our footprint.”

According to the company’s latest release, GIGL is targeting companies which are cash flow positive and have minimum annual revenue of $5 million or more. “PacificShore has been tasked with identifying and creating target company profiles, introducing, initiating negotiations, and ultimately facilitating the closing of such potential companies and to introduce traditional banking relationships for the Company to fund the acquisitions.”

Traders will note 19% tacked on to share pricing for the company in the past week, but this action is running counter to the larger trend in the name. Market participants may want to pay attention to this stock. GIGL has a history of dramatic rallies. Moreover, the listing has seen interest climb, with an increase in recent trading volume of 29% over the long run average.

This is particularly important with the stock trading on a float that is limited at just 10.1M shares. This type of thing is something to watch out for: a mechanically driven price squeeze can result from this type of mix of small float and ramping attention from traders.

At this time, carrying a capital value in the market of $4.86M, Giggles N Hugs Inc  has a chunk ($145K) of cash reported on the books, which compares with about $349K in total current liabilities. GIGL is pulling in trailing 12-month revenues of $3M. However, the company is seeing declines on the top line on a quarterly y/y basis, with revenues falling at -14.6%. We will update the story again soon as developments transpire. For continuing coverage on shares of $GIGL stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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