Incubated by David Loev of The Loev Law Firm, the penny stock of Great American Food Chain, Inc. (GAMN) got thrown into the fire today Psycho style. As PINK as a rare coked chicken breast and with a float so small it barely fits into a kiddie sized cup, GMAN stock wasted no time to handcuff at least one unsuspecting trader in at the HOD before the sound of the opening bell faded away. With revenues much greater than those of GRILLiT Inc. (GRLT) and a smaller share structure, those who aren’t good at playing the 2-minute drill are gonna get stuck churning like butter for the duration of today.
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GAMN Stock Quote
Market Cap: 4.20M
Last: 0.47 ▲ +0.43 (1075.00%)
Dollar Volume: $133,510
Issued and Outstanding: 7,630,747
14-Day Rel Strength: 46.23%
1st Resistance Point: 0.755
1st Support Level: 0.04
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Unlike GRILLiT, Great American Food Chain actually has some pretty significant revenues according to their Q filing for the 3 months ended March 31, 2013. Sales were reported as $443,970 while franchise and license fee income was $21,253, numbers which vastly overshadow those of GRLT.
However, looking at what’s on the surface of Great American Food Chain, one would have to imagine that in 2013, websites for corporations on pace to book revenues of nearly $2 million for the year would be better than a $10 drunken mess. While you can get some idea of their business with descriptions of Yumi To Go and Amici Signature Italian, two of the Companies restaurant concepts around the country, you don’t get a vibe that there is much more to GAMN than what’s in front of you.
With GAMN being, for the most part, an IPO-type play today, the attention that eventually gets drawn to the due-to-come Q2 filing and the share structure will likely bring some players into the GAMN arena once the bags from today get dropped off at the recycling center.
About GAMN Stock
Great American Food Chain, Inc. is a development stage, restaurant holding company specializing in the development and expansion of proven independent restaurant concepts into multi-unit locations through corporate owned stores, licensing, and franchising opportunities.
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If GMAN can sustain the level it’s at now and keep putting up revenue numbers like it for Q1, there is a solid chance this could one day get forward split and be a properly promoted penny stock. For now, GMAN stock is too thin of a structure to see movement that isn’t going to call for 30% moves in either direction each time a trade goes through. The Q2 filing will be very interesting, to say the least, and deserves to be monitored.
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