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Just curious, when was the last time you spoke with management?
COVID has probably extended the timeline, I don't know to what extent. I would reach out to Thomas and Brian at their 507 capital emails and they can typically provide you with some update.
I'm starting to wonder if we're going to see the end one day. is it because of covid 19 that it is longer than expected?
how much longer is it going to take to get the news now that we know the company papers are in order. Have you spoken with Thomas lately?
Entity Revived and in Good Standing 30/03/2020 on fndmreceivership.com
wow a lot of movement today
It's been awfully quiet; I wonder if there was a delay in SEC compliant.
Thank you KDAWGFARM,we finnaly see the end soon after 10 years of waiting,if we have between 4$ and 5$ I will be happy.
https://www.fndmreceivership.com/uploads/2/6/7/4/26748813/fund---letter-to-vcl-re-status-01-06-20.pdf
Looks like tax returns are filed, needs Delaware to accept filings. Once that is done the receivership will end and I'm assuming a shareholder meeting will take place and a super 10-K will be filed.
At that point we have a cash shell that is SEC compliant. Also, he mentions requesting the CD so he can use it as a NOL. Shell with cash and NOL, he'll try and find a private business that will reverse merge into Fund.com.
This is my take away from the filings with the Delaware court. Thomas hasn't said anything except that they are continuing to work through the issues to bring the company up to date.
Do you have more news? Are you talking whit Thomas recently?
it's starting to be long, we are in february come on Thomas
This is expected to occur by year end, maybe a christmas gift after 10 years of waiting
How much do they owe, how much 12 years financials, how long to file fincls?
Honestly not worth the effort new $ here
Well between B.E. Capital who owns 173,681 shares and Richard Jordan who owns 42,929 that is 32% of the company. I think most people who hold shares are waiting until this one plays out.
bid price is up and no one seems to want to sell, good sign!
I follow the podcast, just coincidence. He references a few million hopefully that is in the 3-4 range so with 670,000 shares you get $4.47 - $5.97...seems high but time will tell.
wow nice find,and it's today
I don't know when the company will come out with anything. We know Delaware gave them permission to remove the company from the receivership, they just have to get back up to compliance with Delaware first. Once that is done there will be a meeting of shareholders. I'm assuming we would just liquidate but there could be value in the shell and hopefully there are some NOLs that may be valuable to someone.
In any case people can not say that we are not patient, but it would be appreciated to have a glimpse of the direction that Thomas wants to give to the company.
I talked to him around the end of June. I usually email him at the end of the quarter to see how things are going.
Have you talked to Thomas lately?
I see. Much appreciated!
The ask on the domain was $2.5 million so I would think it went for more than what you are projecting. I don't think it was listed on the mediaoptions.com website for too long before it was removed, I'm thinking maybe a month or two.
Mediaoptions charges 15% of the final sales price as commission, so just take 85% of whatever you think the sale price was.
Got it, thanks. So do you have any theories on bracketing how much the sale of the domain generated in cash? Are you guessing the sale price was between $750k and $1.2mm for example?
Judge ruled for the receivership to discontinue but Thomas has to bring Fund.com current for taxes and current with Delaware. Once this is completed there is a 180 day period where Thomas has to have an annual meeting of shareholders. I imagine once everything is up to date we will be notified of the meeting and from there we will put together a plan. I usually check in with him once a quarter to see how things are going.
Does anyone have knowledge of whether there have been any responses by the judge to the motion to discontinue? And is there any timeline under which the trustee must provide commentary to shareholders on the trust's status?
Unfortunately, no.
thank you very much, I think I will wait a little longer before selling my shares
I spoke to him about a month and a half ago. He said they are working through back taxes and trying to get accounting and face up to date. The government help us, but that they are on it.
Did you talk to him?
I'd pick up the phone and call Thomas. I sold out because I was unhappy with the unknown and lack of updates and information. I also needed the funds. Best of luck to everyone who still holds shares.
no news, nothing, we do not even know if we still have a website. When Thomas needed us to take the directions of the company he published here he could do a follow-up that would be very appreciated. À
Anybody got anything new? There hasn't been any new Delaware court filings.
Yes, that's true. I did cash out the rest of my shares in the $3.00 range. Needed the money to pay off debt and put money down on a house. Although, if you're patient I still think you will get in the $5 range and possibly more. One of my family members still has close to 40k shares and is holding till distribution.
I wish everyone the best! Hang in there if you can.
I’m not Thomas, I’d suggest emailing him. I tried but didn’t get a response.
Thomas can we have news please, what are the plans for the company? there are not many people left here even trumpster seem to have left??
A shell at $3.55 Laughable, no nothing, no revenues, no TRADING... I know your waiting for a pie in the sky announcement to come when this is actually going to zero.
I would think any form of payment for the URL would have to be approved by the judge, I did not see anything. The final request made to the judge was for less than $5,000 the annual report filed had north of $1.6 million of cash which already had a large amount of the legal expenses removed.
I don't know what salaries you are referring to, as receiver they don't receive a salary and if a salary were to begin once Thomas is placed as the sole director it would have to be approved by shareholders.
Even if you take out $500,000 you are sitting at $2.8 million with no value given to the shell and possible NOLs. That is assuming a $2 million sale price on a URL that was listed at $2.5 million for a month-ish, probably sold for more than $2
What if anything did they have to pay for domain?
If it was close to 1/2 million, i think when you consider fees and expenses stock is not worth much more than current mkt value.
Now if you start paying salaries for no business...
https://www.fndmreceivership.com/uploads/2/6/7/4/26748813/fund---motion-to-discontinue-10-16-18.pdf
10. The Receiver recognizes doing so would require that the Company’s
SEC filings be brought up to date and that a Form 10 (a so-called “Super 10-K”) be filed, covering multiple years of missed SEC filings. Towards that end, the Receiver contemplates engaging, on discontinuance of this receivership proceeding, corporate and securities counsel to bring the Company into compliance with SEC and state law disclosure obligations.
I believe that Thomas is wanting to return the company to good standing with the SEC and Delaware, which would require the company to file financial reports that would more than likely show the proceeds from the sale. When will this happen? Nobody knows. It was listed for $2.5 million and the mediaoptions fee is, I believe, 15% commission.
At $2 million sale price you are looking at proceeds of $1.7 million, combined with about $1.6 million from the AdvisorShares settlement so $3.3 million split between about 670,000 shares is $4.92. Add on top of this whatever someone is willing to pay for an SEC compliant cash shell and any NOLs the company may have minus the costs to get the company compliant. Outside of that I don't see any other assets, there should be an annual meeting that takes place within 180 days from when the judge grants the motion to discontinue liquidation.
Does anyone know whether there is likely to be a financial statement/bankruptcy filing released soon that will reveal the cash proceeds from the sale?
Congratulations on the sale of Fund.com!
Just checked the mediaoptions.com website and did not see fund.com listed for sale anymore. Anyone have any information on this?
FNDM sinking ship with no life Preservers. Toxic lenders impatient, no volume making it hard for them to cash in. Panic button hit, look for some BS PR or promo to aid in the dilution.
LMAO!!!!! CAN YOU SAY PIPEDREAM!!!??? LOL! LOL! LOL! LOL! LOL! LOL!
The Pump and Dump is on. So sad for investors.
A shell at $2.70 Laughable, no nothing, no revenues, no TRADING... I know your waiting for a pie in the sky announcement to come when this is actually going to zero.
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Market Value1 | $1,692,173 | a/o Feb 05, 2015 |
Shares Outstanding | 867,781 | a/o Sep 30, 2010 |
Float | Not Available | |
Authorized Shares | Not Available | |
Par Value | 0.001 |
Shareholders of Record | Not Available |
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Short Interest | 0 (-100%) Mar 15, 2011 |
Significant Failures to Deliver | No |
Latest News:
Oct. 25, 2010 (PR Newswire) --
NEW YORK -- Fund.com, Inc. (Pink Sheets: FNDMD), announced today that its subsidiary, AdvisorShares Investments, LLC, a developer and distributor of actively managed ETFs will begin trading the Cambria Global Tactical ETF (NYSE: GTAA) tomorrow, October 26th. GTAA is sub-advised by Cambria Investment Management, Inc., a Los Angeles, California- based investment manager.
Cambria will invest in underlying ETFs spanning all the major world asset classes including equities, bonds, real estate, commodities, and currencies. The Fund will utilize a quantitative approach with strict risk management controls to actively manage GTAA's portfolio in an attempt to control downside losses and protect capital. GTAA will do this by following a trend-based model utilizing multiple asset classes and will either be invested or will get defensive by going into cash for a particular asset class. The wide diversification coupled with prudent portfolio management may allow for the Fund to perform well across a full business cycle.
Noah Hamman, CEO and Founder of AdvisorShares, said, "Cambria has done an outstanding job developing research and education related to a GTAA strategy via their popular white paper, 'A Quantitative Approach to Tactical Asset Allocation,' and their recent book, 'The Ivy Portfolio.' We are very excited to be able to offer this risk-managing strategy to investors in an actively managed ETF."
Mebane Faber, Chief Investment Officer of Cambria Investment Management, said, "We are very excited to launch GTAA as we believe that investors need to be more proactive in managing their risk. Investors will appreciate the fact that we make no effort to forecast future market trends or direction, but rather attempt to capture profits in these trends when and where they develop."
To request more information on AdvisorShares, please contact Richard Stern at 212-888-0044 begin_of_the_skype_highlighting 212-888-0044 end_of_the_skype_highlighting or richstern@sternco.com.
About Fund.com
Fund.com's subsidiary, AdvisorShares Investments LLC, is creating actively managed ETFs to take advantage of the rapidly growing ETF business.
About AdvisorShares
AdvisorShares is a turnkey platform for investment managers seeking to offer their investment strategy in an actively managed ETF. AdvisorShares works with experienced money managers to combine their money management strategies with the benefits the ETF structure provides. AdvisorShares provides sales, marketing and educational support to help financial advisors utilize AdvisorShares ETFs to help them achieve their client's investment goals and objectives. AdvisorShares is pleased to offer actively managed ETFs, including the Dent Tactical ETF (NYSE: DENT), the Mars Hill Global Relative Value ETF (NYSE: GRV) and the WCM/BNY Mellon Focused Growth ADR ETF (NYSE: AADR) and is dedicated to investor education. Fund.com is the majority owner of AdvisorShares Investments, LLC. Visit our website at www.advisorshares.com to learn more about us. Follow the AdvisorShares Team on our Twitter page or 'Like' us on Facebook.
About Cambria Investment Management, Inc.
Cambria Investment Management, Inc. is an investment management firm employing a disciplined multi-asset, global quantitative research process. Cambria provides investment management services through a number of portfolio strategies to high net worth individuals and institutions through separately managed accounts and private funds. Cambria believes that any single style or approach that relies on subjective methods can be inconsistent over time, may bias the investment process, and potentially hinder performance. Global diversification through asset allocation, coupled with prudent risk management, is the foundation of Cambria's investment philosophy. Visit their website at www.cambriainvestments.com.
Before investing you should carefully consider the Fund's investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by visiting the Fund's website at www.AdvisorShares.com. Please read the prospectus carefully before you invest.
AdvisorShares and Mars Hill Partners visit the NYSE. In honor of the occasion, Jason Huntley, Mars Hill Partners Founder and Chief Investment Officer, rings The Opening BellSM.
Watch a live webcast of The Opening Bell at 9:29 a.m. ET on October 11, 2010. The archive will be available shortly after the event.
About AdvisorShares
AdvisorShares is a turnkey platform for investment managers seeking to offer their investment strategy in an actively managed ETF. AdvisorShares works with some best-of-breed money managers to combine their money management expertise with the benefits the ETF structure provides, AdvisorShares provides sales, marketing and educational support to help financial advisors use AdvisorShares ETFs to help them achieve their clients' investment goals and objectives. AdvisorShares is a leader in actively managed ETFs, including the Dent Tactical ETF (NYSE: DENT), the Mars Hill Global Relative Value ETF (NYSE: GRV), and the WCM/BNY Mellon Focused Growth ADR ETF (NYSE: AADR) and is dedicated to investor education. Fund.com (OTCBB: FNDM.OB) is the majority owner of AdvisorShares Investments, LLC. Visit our website at www.AdvisorShares.com to learn more about us. (Source: AdvisorShares)
About Mars Hill Partners
Mars Hill Partners, LLC (“Mars Hill”) is an SEC-registered Investment Adviser and affiliate of private wealth manager Huntley Thatcher Ellsworth, Ltd. (“HTE”), created to offer HTE's long/short relative value strategies through publicly-traded exchange-traded funds. Mars Hill blends proprietary quantitative models and top-down global macro research to identify and capitalize on relative value opportunities across all major asset classes in order to generate consistent positive absolute returns for its investors.
http://etfdb.com/%27" rel="nofollow">Michael Johnston submits:The past few months have seen a number of interesting developments in the active ETF space. A number of major players in the mutual fund game have laid the groundwork for a foray into the ETF world, a development that could lead to a flood of interest (and cash) in active funds. Grail announced last month that it was partnering with DoubleLine, setting the stage for the active ETF space to get its first superstar manager. And the SEC’s review of the use of derivatives in mutual funds and ETFs has caused many issuers to shuffle regulatory filings, altering the universe of allowable securities in proposed ETFs.
On top of all that, the pipeline has continued to fill with new ETF ideas. One of the latest to hit the wire is the Active Bear ETF from AdvisorShares. In an SEC filing, the company behind DENT and the recently-launched GRV offered up some details on the proposed product, which seems to be unlike anything the ETF industry has seen to date. HDGE’s investment objective consists of “selecting a portfolio, on a short basis only, of liquid U.S. exchange-traded equities, exchange-traded funds and exchange-traded products.” Utilizing a bottom-up approach, the active ETF would seek to identify securities with “low earnings quality or aggressive accounting that may be intended, on the part of company management, to mask operational deterioration and bolster the reported earnings per share over a short time period.”
In addition to short positions in equities and ETFs that meet the aforementioned criteria, the fund will invest in short-term government securities and cash equivalents.
HDGE joins a number of other AdvisorShares ETFs in the product development pipeline, including the WCM/BNY Mellon Focused Growth ETF . The company’s first ETF product, the Dent Tactical ETF (NYSEArca: DENT - News), is the largest actively-managed equity ETF on the market with about $22 million in assets. That fund utilizes proprietary economic and demographic analysis to identify the overall trend of the U.S. and global economies and analyze how consumer spending patterns may change. The recently launched [[GRV]] uses a “relative value” approach, seeking to combine long positions in the most attractive country, sector, and industry ETFs with equal dollar amounts short in the least attractive country, sector and industry ETFs.
Mr. Webster brings over 20 years of management experience throughout the financial services, brokerage and insurance industries, including extensive global wealth leadership experience.
Prior to his current position at Fund.com, Mr. Webster was the President and CEO of HSBC Brokerage (USA) Inc., one of the largest banks in the world, where he was responsible for approximately $32.5 billion of client assets. Mr. Webster additionally held a seat on the Board of HSBC Asset Management (Americas) and served as Head of Securities of HSBC North America. In the latter role, Mr. Webster served on the board of directors and oversaw all the wealth management advisory services of HSBC Securities (Canada) Inc. and Merrill-Lynch HSBC (Canada) Inc., and was responsible for trading and execution services for HSBC subsidiaries and international affiliates.
Before joining HSBC in 2000, Mr. Webster led the Guardian Life Insurance Company in the formation and SEC Registration of a newly formed broker/dealer, Park Avenue Securities, LLC. Mr. Webster served as President of Park Avenue Securities, where he managed the securities operations and the distribution of wealth management and insurance products through a field force of approximately 4,000 registered representatives across the country. Prior to Park Avenue, Mr. Webster was the Chief Operating Officer for NYLIFE Securities, Inc., a subsidiary of New York Life Insurance Company, where he managed the wealth management proposition for approximately 8,000 Registered Representatives nationally. Mr. Webster was previously a Director of Private Client Services at Dreyfus Service Corporation, a subsidiary of Mellon Bank.
RECENT NEWS:
BNY Mellon Asset Servicing, the global leader in securities servicing, became the first service provider to support short positions in an exchange-traded fund (ETF) after being selected to provide ETF services, custody, fund accounting and fund administration for the Mars Hill Global Relative Value ETF (NYSE: GRV), the first actively managed ETF to pursue a long-short equity strategy.
This ETF, the first to hold short positions, is managed by AdvisorShares and sub-advised by Mars Hill Partners.
"We selected BNY Mellon to provide these critical services because of its ability to develop a customized solution regarding the servicing of short positions," said Noah Hamman, chief executive officer and founder of AdvisorShares. "BNY Mellon also has demonstrated its expertise in providing ETF services to our Dent Tactical ETF (NYSE: DENT), which we launched September, 2009."
"Our continuing investments in technology and customer service provide us with the infrastructure required to support short positions and actively managed ETFs," said Joseph Keenan, managing director and global head of exchange-traded fund services at BNY Mellon Asset Servicing. "We see increasing demand for actively managed ETFs as investors appreciate the additional flexibility that they can provide when compared with traditional mutual funds."
AdvisorShares is a turnkey platform for investment managers seeking to offer their investment strategy in an actively managed ETF. AdvisorShares works with some best-of-breed money managers to combine their money management expertise with the benefits the ETF structure provides. AdvisorShares provides sales, marketing and educational support to help financial advisors use AdvisorShares ETFs to help them achieve their clients' investment goals and objectives. AdvisorShares is an innovator in actively managed ETFs and is dedicated to investor education. Fund.com (OTC Bulletin Board: FNDM) is the majority owner of AdvisorShares Investments, LLC. Visit our website at http://www.advisorshares.com to learn more about us.
BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through BNY Mellon and other related companies.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $21.8 trillion in assets under custody and administration and $1.0 trillion in assets under management, services $11.6 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com.
SOURCE BNY Mellon
Mr. Webster brings over 20 years of management experience throughout the financial services, brokerage and insurance industries, including extensive global wealth leadership experience. Prior to his current position at Fund.com, Mr. Webster was the President and CEO of HSBC Brokerage (USA) Inc., one of the largest banks in the world, where he was responsible for approximately $32.5 billion of client assets. Mr. Webster additionally held a seat on the Board of HSBC Asset Management (Americas) and served as Head of Securities of HSBC North America. In the latter role, Mr. Webster served on the board of directors and oversaw all the wealth management advisory services of HSBC Securities (Canada) Inc. and Merrill-Lynch HSBC (Canada) Inc., and was responsible for trading and execution services for HSBC subsidiaries and international affiliates.
View David G. Nichols, Jr's profile
David G. Nichols, Jr. is currently of Counsel to Cahill/Wink. Mr. Nichols’ expertise focuses on business and finance transactions including mergers, acquisitions, divestitures, partnerships and joint ventures; formation of private investment funds (hedge, private equity, venture capital and funds of funds); and representation of complex financial institutions, including investment banks, broker-dealers and institutional investors.
Mr. Nichols was a partner in the New York City office of Morgan, Lewis & Bockius LLP from 1993 to 2008, and previously was associated with Shearman & Sterling LLP in New York. He has represented Citibank, J.P. Morgan, Jefferies & Company, Daiwa Securities, Credit Suisse, Merrill Lynch, National Discount Brokers, Fidelity, Financo and Bank of New York Securities in acquisitions, divestitures and financial advisory engagements, and has handled significant cross-border transactions for Finmeccanica, International Verifact, Duty Free International, Airtours plc, Goodman Fielder and others.
Prior to his law career, Mr. Nichols worked on federal energy policy matters as a staff member in the U.S. Senate and an official of the U.S. Department of Housing and Urban Development.
He graduated with honors from George Washington University Law School, and magna cum laude from Dartmouth College, where he was elected to Phi Beta Kappa.
Mr. Aaronson is a senior executive with 25 years financial services experience, including significant leadership and management roles. Mr. Aaronson has expertise in asset management and product development, marketing and management. Mr. Aaronson also has ten years in private and in-house securities and business law practice, and has extensive experience in domestic U.S. and international markets and securities law environments. Mr. Aaronson is currently a Managing Member of Stone Keep Capital Management, and was previously the CEO of Plus Funds Group, Inc. and an Executive Managing Director at Standard and Poor’s where he was responsible for S&P global business unit covering the global indexing business and the investment advisory business.
View Elizabeth Piper/Bach's profile
Elizabeth (Betsy) Piper/Bach brings a wealth of insight and experience in the financial services industry. Ms. Piper/Bach, an experienced financial services executive, has lead new product development and company mergers/acquisitions in the financial services sector while specializing in new regulations and challenges of the ever changing securities industry.
Ms. Piper/Bach is currently serving a two-year term as the Investment Management Consultants Association (IMCA) vice president. She has been a director of the organization for five years and a member of the Finance, Audit, and Investment Committee, Personnel Committee, Certification Committee, Investments & Wealth Monitor Editorial Advisory Board as well as the Journal of Investment Consulting Editorial Advisory Board.
Ms. Piper/Bach is the Vice President, NADA Retirement Administrators Inc., a subsidiary of the National Automobile Dealers Association providing investment choices, recordkeeping and plan administration for retirement plans of all types nationwide. NADA RAI has $2.4 billion of assets under administration. Previously she was president of Cardinal Trust and Investment Services, and chief investment officer for Wilson/Bennett Capital Management, senior vice president and chief trust officer at FBR National Trust Co., chief investment officer of Money Management Advisors, Inc., managing director for FOLIOfn, Inc., president and chief executive officer of Brenton Investments, and chief financial services officer at Brenton Bank. She also has held positions with John G. Kinnard & Co. and Dain Bosworth, Inc.
Ms. Piper/Bach earned a B.S. in special education from St. Cloud University, an M.Ed from George Washington University, and a JD from The Catholic University of America Columbus School of Law. She has been a member of the New York Stock Exchange Item Writing Committee, an active member of the Securities Industry Association, the Financial Planning Association, the American Bankers Association, and American Bar Association.
Fund.com, Inc. (ESVH) is committed to becoming a leading destination and brand for financial information while leveraging its key internet domains to generate consumer interest, educate product providers to license its index, empower the growth of its index through paid referrals, and grow its licensing income while simultaneously generating online advertising revenue and leads.
The Company believes that investors should have the same level access to information controlled by brokers and financial advisors. In order to make this concept a reality, Fund.com is developing an information market place that reveals many of the secrets of the investment world. Coupled with their easy to remember domain name, this unique portal of information has great potential to quickly become a prominent name in the investment community.
Hedge funds are only beginning to be discovered by a wider group of investors and are becoming an essential cornerstone of well-constructed investment portfolios. In 1990 hedge funds controlled $8 billion, but by 2007 the number grew exponentially to reach a total of $2.26 trillion. Fund.com believes that the hedge funds will continue to follow the growing trend.
By focusing specifically on funds, Fund.com will have an advantage over general financial information websites since they will be able to expand further and present more detailed information. Fund companies will also be able to benefit tremendously as they will be able to gain additional exposure through Fund.com and attract would-be fund buyers who are much closer to a purchasing decision then someone who is searching for fund information through a search engine or a site focused more on stocks than on funds.
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