Viva Entertainment Group Inc (OTTV)

[badbadbad]

arik and rico's partner in nxgh. real nice..



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nodummy Monday, 09/05/16 11:35:22 AM
Re: samsamsamiam post# 112371
Post #
112373
of 112842 Go
Arik Maimon sure does work hard to distance himself from Engin Yesil in that letter. Engin Yesil was a long time shareholder and board member for Next Communications from 2000 - 2014, but the FCC took issue with his involvement and so on December 15, 2014 (same day as that letter) Engin Yesil (a native of Turkey) transferred his share ownership to Huseyin Kizanlikli (another native of Turkey) to try to satisfy the FCC.

http://licensing.fcc.gov/myibfs/download.do?attachment_key=1080520

I can see why the FCC took issue with Engin Yesil's involvement:

http://www.nytimes.com/1997/03/17/opinion/grinding-into-dust.html

"In 1990 Mr. Yesil pleaded guilty to aiding the distribution of cocaine and was sentenced to six years in prison."


This is the same Engin Yesil as the CEO of Wilson Creek Mining Corp (WCRE) in 2008.

https://www.sec.gov/Archives/edgar/data/1377145/000114420408006277/v102034_8k.txt

How does a somebody convicted of cocaine trafficking become a CEO of a public company? He never disclosed that conviction in any SEC filings.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6434286

"No executive officer or director of the corporation has been convicted in any criminal proceeding (excluding traffic violations) or is the subject of a criminal proceeding which is currently pending."

I remember WCRE as a scammy ticker. I see it is on the grey sheets now after getting suspended as a dead shell in 2015:

http://www.otcmarkets.com/stock/WCRE/profile

https://www.sec.gov/litigation/suspensions/2015/34-75896-o.pdf


Engin Yesil was also the Chairman of SK Realty Ventures Inc (SKRV) starting in 2007. That one also got abandoned and eventually suspended in 2014

https://www.sec.gov/litigation/suspensions/2014/34-71465.pdf



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nodummy Monday, 09/05/16 02:03:29 AM
Re: Arthur post# 112364
Post #
112367
of 112842 Go
NXGH - I'd say those projected revenues are funny but it really isn't funny when a company publishes something this scammy in an SEC filing.

Obviously those projections were just made up numbers with nothing to support them to try to pump up the stock price, but for the heck of it let's see how well they are doing so far.



NXGH projected that they would do $3,219,190 in revenues for 2016

So far according the last 10Q they have done a whopping $85,070 through the first 6 months of 2016. Considering that $82,303 of the $85,070 came during the first 3 months of 2016 with only $2,767 in revenues coming during the 2nd quarter of 2016 that puts them on pace for less than $100,000 in revenues for 2016.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11556341

That will make them off by over $3,119,190 dollars from what they projected. Looks like they over shot by like 3100%. Quite embarrassing.

Even more embarrassing is the direction that their revenues have been headed over the past 2 years. When you look at the 8K filing for the merger with those ridiculous future revenue projects we find out that in 2014 that group of companies that were merged into Pleasant Kids did a total of $686,332 in revenues in 2014. I couldn't find total revenues for 2015 for those companies but we can estimate it from the 10Q filing linked above by just doubling the revenues reported in that 10Q for the first 6 months of 2015 ($228,051) giving us $456,102 in total revenues for 2015.

They are going the wrong way.

2014 = $686,332 in revenues
2015 = $456,102 in revenues (estimated)
2016 = $100,000 in revenues (projected based on the first 6 months)

Using the downward trajectory pattern created by the decrease in revenues since 2014 they need to redo their projections for the next 4 years.

It should look more like this:

2017 projected revenues = $22,000
2018 projected revenues = $4,500
2019 projected revenues = $700
2020 projected revenues = $0


The declining revenues are far from the only ugly thing going on with NXGH. They added over $900,000 in convertible debt notes to the books during the first 6 months of 2016 not including the $224,495 in debt plus $15,721 in accrued interest that got converted into 2,664,519 free trading shares of stock between January 1, 2016 and June 30, 2016.

Between June 30, 2016 and August 19, 2016 they have already added another $150,000 in toxic debt and already issued another 3,851,658 free trading shares for $194,445 in convertible debt and $20,235 in accrued interest causing the price to fall just like the revenues from $.40/share in January to $.08/share now.

As they keep converting more debt into free trading stock the price will keep falling. As the price keeps falling it will take more and more free trading stock to pay off the debt since the discount is around 50% - 60% below the market price on all the conversions. So basically NXGH is in a debt/dilution death cycle. With revenues quickly headed towards zero all they can do is keep taking on more and more toxic convertible debt which in turn will lead to more and more dilution and the share price decreasing faster and faster. The price is eventually headed to $.0001/share unless they do a reverse split or it gets suspended by the SEC before it gets that low. With this dividend nonsense they are touting in the press releases I wouldn't rule a possible SEC suspension out.