A/S 40,000,000 Nov 2016 On November 10, 2017, the Company entered into an agreement with a third party to sell a website in exchange for 10 million shares of restricted shares of the third party's common stock. The Company is still evaluating the accounting treatment.
O/S 9,004,564 Nov 2017
A multi-media content producer and distributor, today announced that it has acquired http://localcannabisdispensary.com, an ad supported and subscription based directory and search engine for over 500 cannabis dispensaries and stores.
The Company acquired the business from Total Sports Media, Inc. in exchange for the issuance of restricted shares of the Company's common stock. On June 1, 2017, the Company executed an addendum to the Lender Financing agreement whereby the maturity date has been extended to May 15, 2018 with interest calculated at Prime plus 6.25%. The line of credit was also increased to $1,123,642.
On March 22, 2013, the Company reached a settlement and release agreement with IBM Credit, LLC, (“IBM”) the lessor associated with the Company’s computer servers and software classified under capital lease. The balance owed to IBM as of March 22, 2013 was agreed to be $108,704. The Company agreed to make payments of $9,000 per month, with a final payment of $9,704 on March 1, 2014, in order to satisfy this balance. As of November 30, 2016 and August 31, 2016, the Company was in default of this agreement and the amount outstanding of $54,704 is reflected as a current liability on the accompanying consolidated balance sheets. https://wyobiz.wy.gov/business/FilingDetails.aspx?eFNum=106027030168005139159016114207169240154222234090 https://www.sec.gov/cgi-bin/browse-edgar?company=total+sports+media&owner=exclude&action=getcompany
Total Sports Media, Inc. (the “Company”) is a digital media and technology services company. The Company provides audio and video streaming and advertising services through its RadioLoyaltyTM Platform (the “Platform”) to over 5,000 internet and terrestrial radio stations and other broadcast content providers. The Platform consists of a web-based and mobile player that manages streaming audio and video content, social media engagement, display and video ad serving within the web player and is also capable of replacing audio ads with video ads within the web player in a live or on-demand environment. The Company offers the Platform directly to its broadcasters and integrates or white labels its technologies with web-based internet radio guides and other web-based content providers. The Company is also continuing development of SportsAlert™, a product subscriber based alert product. The Company was incorporated as a Wyoming corporation on May 6, 2008.. For the three months ended November 30, 2016, the Company recorded an operating loss of $238,086 and a net loss of $976,980. As of November 30, 2016, the Company had a working capital deficit of $5,883,858, which excluding the derivative liability was $4,795,856 The Company marketed its motion picture products and distribution businesses under several names (”brands”) including Lux Digital Pictures, Midnight Movies, New Broadway Cinema and Short Screams.
RadioLoyalty™ We filed a patent with the United States Patent and Trademark Office. The patent application was filed on July 26, 2012, under application number 13/559,503. The Company received a Final Office Action rejecting the company's claims to U.S. App No.: 13/559,503 - Ads with Media Streams - RAD-0045. The Company planned to submit a response to this rejection and file an appeal, and while the Company believes that its claims are patentable, it chose not to pursue the claims further because it would have been cost prohibitive.
We believe there is a large and growing market opportunity for our RadioLoyalty™, Robot Fruit, StreamTrak, AmpedFantasy, Fantify and SportsAlert
We offer our service to listeners at no cost through our UniversalPlayer™ in online environments, and through our RadioLoyalty™ app in popular mobile and IP environments.
We believe that our RadioLoyalty™ platform is quickly becoming a leading way to listen to music, talk radio, and sports over the Internet, IP connected devices, tablets and on mobile devices. Listeners can listen to their favorite radio stations and songs while earning loyalty points redeemable for merchandise. With more than five thousand stations, we believe it is easy to find stations to love.
The UniversalPlayer™ Platform has standardized digital ad buying for more than five thousand internet radio stations. Its technology for in-stream video ad insertion is unique and we believe it is changing the way the traditional internet radio model executes. As we continue to expand the use of our UniversalPlayer™ to a larger broadcaster base, we anticipate seeing significant increases in advertising rates and revenue with this addition.
Livon.Tv lets users instantly broadcast live video online and chat with your viewers. The purchase included iOS app, Android app, site, licensed software, domain, identity (custom logo), hosting for 1 year. Over 9,000 downloads and 6,000 registered users. The company purchased this in 2016. We were incorporated as a Wyoming corporation on May 6, 2008. Our principal executive offices are located at 5662 Calle Real #231, Goleta, California 93117 and our telephone number is (805) 308-9151. Our website is located at www.totalsportsmedia.com. Our common stock has traded on the OTC under the symbol “STTK” since April 4, 2013. Prior to that date our common stock traded under the symbol LUXD since August 27, 2009. Unlimited shares authorized at August 31, 2016
Acquisitions On April 24, 2015, the Company, entered into an Asset Purchase Agreement with Lux Digital Pictures GmbH Partners ("Lux") pursuant to which, the Company issued 800 shares of Series C Convertible Preferred Stock for the rights to various domains, source codes, etc related to Lux's Sports Alert and Amped Fantasy Sports products. The Company determined the price of the Series C issued to be $120,000 based upon the conversion value of $150 worth of common stock for each share of Series C. The Company recorded the value of the asset as software within property and equipment on the accompanying balance sheet. The Company capitalized the value of the Series C as the products received were near completion and need limited modification prior to the Company placing into production. The expected life of the asset acquired was estimate to be 36 months
. On April 24, 2015, the Company entered into an Exchange Agreement with Lux pursuant to which the Company issued 10,000 shares of its Series C in exchange for 1,869 shares of Company common stock tendered by Lux to the Company for cancellation. The Lux common stock was originally issued to Lux by the Company on March 12, 2013. In connection with the transaction, the Company recorded a loss on settlement of $1,499,850, which represented the difference in the fair market value of the Series C issued of $1.5 million and the common stock received of $150. See Note 4 for additional transaction with Lux.
Common Stock Effective February 17, 2015
, the Company filed Articles of Amendment to the Company’s Articles of Incorporation with the Secretary of State of Wyoming to (i) increase the Company’s authorized shares of common stock from 1,000,000,000 to an unlimited number;
and (ii) allow for shareholders to take actions by the written consent of the holders of outstanding shares having not less than the minimum number of votes that would be required to authorize or take the action at a meeting at which all shares entitled to vote on the action were present and voted. On October 26, 2015,
the Company filed a 14C with the Securities and Exchange Commission indicating their intent to amendment the Articles of Incorporation to: (i) change the Company's name from StreamTrack, Inc. to Total Sports Media, Inc., (ii) effect a 1-for 800 reverse split of the Company's common stock and (iii) decrease the authorized number of shares of common stock from an unlimited number to 40,000,000.
The Company received approval to these actions on December 6, 2016 and will reflect under the new ticker TSMI, after 20 days. The 1-for 800 reverse split has been retroactively reflected within these consolidated financial statements.
During the year ended August 31, 2015, the Company authorized up to 375,000 shares to be issued under the StreamTrack, 2015 Incentive Stock Plan.
During the years ended August 31, 2016 and 2015, 530 and 50 shares of Series C with a value of $79,500 and $22,500 were converted into 993,750 and 281,250 shares of common stock, respectively.
See Notes 5, 6, 10 and 12 for discussion regarding the issuance of common stock. Legalities for: As of August 31, 2016, we had 2 employees:
|Post # of 30847 Courtesy of DryLightning || || |
hill & gravitz sleazy connections can be seen in this article: http://sharesleuth.com/short-takes/prior-offenses/2010/02/lenco_mobile_links_up_with_rec
commerce planet: hill, gravitz, guggliuza and crane
busted by ftc http://www.ftc.gov/sites/default/files/documents/cases/2012/06/120622commerceplanetmemo.pdf
Superfly Advertising, a subsidiary of Morlex Inc.
controlled by fraudster Michael W Crow
busted by sec http://www.sec.gov/litigation/admin/2014/33-9690.pdf
Lenco Mobile formerly sovereign wealth corp
Zirk Engelbrecht and his wife Angelique de Maison
busted by sec: http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370542985406#.VKxuPSx0ypo
Zirk de Maison installed some of these associates as officers and directors of Gepco while he secretly ran the company behind the scenes. Collectively, they amassed large blocks of shares of Gepco common stock while the de Maisons manipulated the market to create the appearance of genuine investor demand, allowing an associate to sell his stock at inflated prices to make hundreds of thousands of dollars in illicit profits.
Here is Nodummy's post that shows Michael Hill and Angelique de Maison connected in a different scam. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=58128198
Who is really calling the shots?
After commerce planet is busted they sell most of their assets to Superfly http://www.businesswire.com/news/home/20080918005277/en/Commerce-Planet-Announces-Agreement-Sell-Consumer-Loyalty#.VKv7sCx0ypo
Superfly sells the assets just purchased to Lenco Mobile 2 months later http://www.businesswire.com/news/home/20090211006291/en/Sovereign-Wealth-Corp.-announces-change-Lenco-Mobile#.VKxnYCx0ypo
Lenco mobile sells radioloyalty to hill and gravitz as Radioloyalty which merges with Streamtrack
James Crane from commerce planet shows up with STTK as investor relations: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=81870430
Then we get the fake Streamtrack China Mobile deal: http://www.bloomberg.com/article/2013-04-03/aujkioqFGZUc.html
Who is James Crane? fraudster specialist in fake Chinese companies
busted by sec http://www.sec.gov/litigation/litreleases/2013/lr22698.htm
The Commission alleges that Subaye and Crane misrepresented the company’s business and operations, deceived the company’s auditors, and misled investors about the company’s true status and revenues. According to the complaint, Subaye claimed to be operating a cloud computing business but investigations found no evidence of such a business.
Charlie Gugliuzza from commerce planet lost his case against ftc to the amount of $18,000,000
But he did get his hands into streamtrack in 2012 with $125,000 convertible note along with his partners hill and gravitz MHCG LLC https://www.sec.gov/Archives/edgar/data/1442376/000147793213002825/sttk_ex103.htm