MGT - That's no problem if you want to pull from it. Be my guest. I barely spent much time on it though. As I know you are very well aware, the issues surrounding MGT go way beyond the basic stuff that I listed.
Just off the top of my head some other things that I find interesting that I didn't mention yet include:
1) How in the Disclaimer for the Stockbeast.com stock promotion, Stock Beast mentions being paid starting on May 6th. 3 days before the public was made aware of the MGT pact with John McAfee.
Obviously the people that would be selling their stock during the paid promotion (Barry Honig and Michael Brauser in particular) knew in advance of the public what was coming and they made arrangements for the promotion before any filings even hit. It offers more interesting Insider Trading evidence.
2) How John McAfee made a deal with his buddy, Kyle Sandler, for 6% interest in The Round House LLC for the cost of $150,000 just to have something to tout in a May 12th press release
Kyle Sandler was one of John McAfee's campaign advisors when he ran for the Libertarian ticket as well as a partner in Future Tense. This old article hit some of those nails near the end including how little value The Round House LLC brought to MGT:
Considering that MGT only listed $25,000 in property and equipment assets in the last 10Q I'd say that The Round House LLC deal was another poor business decision on their part.
Speaking of Future Tense ... I only talked in general terms about how McAfee was a paid promoter hired by MGT. I didn't go into detail about the Future Tense/MGT stock promotion deal.
I know you the terms of that deal. Future Tense (which is John McAfee's company) was paid to manipulate the MGT stock price
a. Base Compensation. The Company shall pay the Consultant base compensation (the “Base Compensation”) at the annual rate of $250,000 (U.S.) payable in equal installments to be made no less often than monthly. The Consultant’s Base Compensation may be increased by the Board of Directors (the “Board”). Once increased, such increased amount shall constitute the Consultant’s Base Compensation.
b. Discretionary Bonus. The Consultant shall be eligible to earn a cash and/or equity bonus as the Board may determine, from time to time, based on meeting performance objectives and bonus criteria to be mutually identified by the Consultant and the Board. Such objectives and criteria may be based on a favorable sale or merger of the Company, in additional to operating metrics.
c. Value Bonuses. If, during the first twelve (12) months of the initial Term of this Agreement, the volume weighted average price (“VWAP”) of the Company’s common stock is equal to or greater than $1.00 for each of ten (10) consecutive trading days on the NYSE MKT exchange, then Consultant shall be entitled to receive a cash bonus in the amount of $250,000 to paid within thirty (30) days of such triggering event. If, during the first twelve (12) months of the initial Term of this Agreement, the VWAP of the Company’s common stock is equal to or greater than $2.00 for each of ten (10) consecutive trading days on the NYSE MKT exchange, then Consultant shall be entitled to receive an additional cash bonus in the amount of $350,000 to paid within thirty (30) days of such triggering event.
They call it a "consulting contract" but it is obviously MGT paying for more promotion of the ticker to help Barry Honig and Michael Brauser (in particular) with their profits and boy did John McAfee pump the hell out of MGT on twitter early on even going as far as telling people to buy the stock.
That alone should be enough to lead to some kind of SEC litigation. John McAfee went on to pump and pump and pump and pump on Twitter. The pumping included lots of misleading press releases as I mentioned in the post you responded to and misleading information on the MGT website about what products MGT owns. I didn't even mention all the positive articles John McAfee arranged to have written by various authors most of which were also misleading about what MGT owned (despite the acquisition agreements not being completed) and about John McAfee's official affiliation with MGT. Even John McAfee has been calling himself the CEO of MGT for weeks now on his twitter account despite not holding any official officer or director position with MGT.
You still have him and his associates misleading people on Twitter today. McAfee's buddy, Eijah, at Demonsaw made a misleading tweet saying that MGT is coding clear skies. Since MGT has yet to acquire Demonsaw that is a misleading/false tweet. Demonsaw's business operations are still 100% separate from MGT's business operations. To try to blend the two together is just intentionally misleading investors.
On that note ... this is a good link to an article on MGT somebody (maybe you?) wrote early on. I really like how it focuses in on the insider trading issues and the John McAfee twitter pumping and early lies told by MGT.
I talked about the MGT/FNCX connection starting back in September of 2015 which brought Barry Honig and Michael Brauser into MGT helping them set up MGT as their own personal cheap ATM machine with those Warrants
But just as interesting is how Barry Honig also used MGT to run a little pump&dump on APPY (one of his other tickers).
First on May 13th Barry Honig reports that he added about 23,000 APPY shares to his holdings between April 4, 2016 (when he last reported his APPY ownership) and May 13, 2016. It should be noted that APPY was trading at an average price of about $3.00/share during that span.
Then on May 18th we find out that MGT had been buying APPY stock off the open market helping push the APPY price up from $3.10/share on May 11th to $4.05/share on May 17th
All total MGT bought 112,000 Common shares of Venaxis, Inc. (APPY) in the open market at a total cost of $414,000. That comes to an average cost of $3.69/share.
How interesting is it that MGT bought its first shares APPY on April 29th.
Anyways, as I was saying, MGT was used to push the APPY price up from $3.10/share to $4.05/share. Then when the MGT ownership filing hit before the May 18th open, it caused APPY to run higher to $6.65/share before eventually closing the session in the red with much heavier than normal trading on the day.
I'd love to know how many shares Barry Honig sold between May 16th and May 18th
All we know for sure is that MGT sold all of its APPY stock by September 2, 2016
Since MGT doesn't mention selling the stock in the last 10Q for the period ending June 30, 2016, we can probably assume they sold those 414,000 shares between July 1, 2016 and September 2, 2016.
Since APPY mostly traded in the $3.20/share range during that span and pretty much never traded above $3.69/share during that span there is no question that MGT took a big loss on that investment. The real question is why would MGT buy APPY stock in the first place just to sell it all a few weeks later for a loss? The only answer I can think of was that it was done at Barry Honig's bidding and it probably helped Honig make money on his APPY investment.
MGT would make a fascinating article. Between the Barry Honig/Michael Brauser/FNCX/DDAY/APPY stuff. The paid promotions. All the John McAfee pumping. All the misleading information about who is running MGT and what MGT owns. All the misleading information about what D-Vasive and Demonsaw are worth and could be worth in the future. All the John McAfee connections to pretty much every company MGT has proposed to do business with and/or done business with since May 9th. All the past and current controversies surrounding John McAfee's personal life.
I mean honestly I'm not sure how anybody can invest in MGT in good conscious if they know even 1/10th of the truth going on with that ticker and going on with John McAfee. Even if they choose to believe he wasn't involved in those two murders in Belize even John McAfee himself posted a video proving he was having sexual relations with a 13 year old girl while he was in Belize. There is no question about how he took advantage of the poor people of Belize to do some very very bad stuff that should have landed him in jail. How can anybody in good conscious support a man like John McAfee or a company like MGT? It just goes to show you how many people blind themselves to everything when they invest in stocks. They completely ignore morals and only treat these ticker symbols as money making opportunities. In so many other areas of life people are able and willing to make decisions with a moral conscious but when it comes to trading stocks there so often doesn't seem to be such a thing as a moral conscious.
But yeah sounds like a fun article to write. I can't even imagine trying. Research can suck you in and hold you captive for hours. MGT I'm sure has the potential to keep you in your seat for days if you commit yourself to trying to write a full fledged research report on the ticker.
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