They did a highly dilutive raising at $0.10 to reduce the significant debt. Then the debt looked sort of manageable.
Then COVID came along, RFG's revenue should have dropped in the direction of 0 for the immediate future. It's tough to see exactly how much of an effect that will have on the overall company.
You'd expect the franchisees who considered their business marginal beforehand would call it quits. The moderately successful or better might just be able to hold on after the virus.
RFG Price at posting:
4.1¢ Sentiment: Sell Disclosure: Not Held
