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IDLM - Idle Media, Inc. -- Idle Media, Inc. is a social media technology company that delivers cutting-edge content and online gaming through its wholly-owned operating companies, including Dat Piff, Hip Hop Early, Prison Block, Backyard Buddies, and others. Idle Media went public via a reverse merger into National Golf Emporium (NGLF) on Feb 24th, 2010. Idle Media, LLC was formed on September 29th, 2008 operating the Dat Piff website.
Share Structure
IDLM currently has this existing share structure as of August 15, 2013:
| Authorized Shares: 100,000,000
Outstanding Shares: 60,746,743
Restricted Shares: 47,213,493
Public Float: 13,533,250 | T/A CONTACT:
Globex Transfer, LLC
780 Deltona Blvd., Suite 202, Deltona, FL 32725
386-206-1133
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Market Value of Float: $3,917,475 @ $0.30 per share
$5,223,300 @ $0.40 per share
$6,529,125 @ $0.50 per share
HIGHLIGHTS:
1.52M Facebook Fans! Datpiff Facebook Page 462K Facebook Fans! Hip Hop Early Facebook Page
IDLM selling at a 95 percent discount to Zynga based on P/E or web traffic valuations!
ZERO debt! ZERO warrants! ZERO preferreds!
IDLM Executives own 46M restricted common shares - huge incentive to increase stock price!
Company repurchased 4M common shares from a previous owner
CEO Options to purchase over the next three years at $0.50, $1.00, and $2.00 (shows where the stock is going)
COO/CFO restricted common shares become saleable over the next three years only if performance metrics are met Impressive revenue growth, margins, and cash balance! Exclusive releases by major Artists: Lil Wayne, Whiz Kalifa, Young Jeezy, Mac Miller, Fabolous, Tyga,
Gucci Mane, Meek Mill, Jadakiss, Rick Ross, Drake, Curren$y, and 50 Cent !
| Key Links: | Messageboards & Forums | | Daily Chart: 
| Weekly Chart: 
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Research Report - Speculative Buy Rating - Price Target $1.83
$1.83 Valuation per Equity Research Report conducted by Westport Strategic Partners (Download Report)
SEC Filings
Filings are listed with most recent at the bottom:
Press Releases
PLEASE NOTE :: Idle Media is not going to release press releases until their registration is approved by the SEC, anticipated no later than 60 days after the posting of the Form 10-12G. (Around August 13th)
Business Model
Idle Media earns revenue through four different means, (1) 3rd Party Advertising, (2) Paid Subscriptions, (3) Advertising Sponsorships, and (4) Purchases of Premium Deliverable Content in our Online Games.
Dat Piff - www.datpiff.com
Dat Piff is the flagship website of the company and primary source of revenue, utilizing banner, video, and pop-up advertising. Idle Media has entertained sponsorships from many national retailers including a full page background animated ad by NIKE. Dat Piff is also has an established mobile phone app available on iPhone, Android, Palm webOS, Blackberry, and Windows Phone, with over 400,000 downloads (Android Stats, Palm Stats). Dat Piff is very often referred to in press releases for different artists as the main source to find their new mix-tape. (Example) At the end of 2010, Dat Piff partnered with Vibe Magazine to release their list of top mix-tapes of 2010 (datpiff link, vibe link). The top mixtape had over 400,000 listens on the Dat Piff website. (screenshot). In 2011, the most popular mix-tape release so far is Mac Miller's "The Best Day Ever". This mix-tape generated enough buzz to crash the website during the countdown to release. There were 350,000 views, 120,000 streams, and 80,000 downloads in the first 24 hours. (screenshot) They also featured advertising in 2011 from sources such as VH1(screenshot) and the Movie Big Mommas (screenshot). Here are some other sponsored mixtapes for 2011 (RedCafe, True Diamonds, Translee, Goons United, )
Hip Hop Early - www.hiphopearly.com
Hip Hop Early was acquired for $25,000 in August of 2010. "Adding HipHopEarly.com to our portfolio allows us to touch the music the fans of Dat Piff love in a much different way," stated Mr. Marcus Frasier, Idle Media, Inc.'s President and CEO. "This acquisition is just another step in our strategy to continually expand our on-line presence in both the social gaming and hip hop niches. We've taken an established site with respectable user traffic, breathed new life into it and immediately integrated it into our business without incurring any additional expense. The revenue from these types of acquisitions basically flows straight through to the bottom line." Like Dat Piff, Hip Hop Early has begun to release mobile apps, initially releasing an Android OS app. (Screenshots)
Clip Cartel - www.clipcartel.com
Clip Cartel was created by Idle Media from the ground up and was released in February 2012. The site features a wide selection of video clips from major recording artist music videos, interviews, and viral internet videos. The site is also featured on datpiff.com under the videos section, where it shows "powered by clipcartel". Mobile apps are in development for the site, per a facebook post in February.
Prison Block - www.prisonblock.com
Prison Block was acquired in July 2010 for $40,000. Prison Block was an established MMORPG (Massive Multiplayer Online Role Playing Game) that had 50k users. Since acquiring, they have cleaned out inactive users a few times and as of January 7th 2011, there are over 72,000 users. In Prison Block, the online gamer is playing the 'role' of an inmate. The inmate has to survive and thrive in the prison by joining or creating a gang and otherwise maneuvering to stay alive. "Most companies in this space drive revenues by allowing for the purchase of premium items. In Prison Block for example you can buy 'respect' or 'favors' from the warden, which can then be exchanged for items within the game, like a flat screen television for your cell," added Mr. Frasier.
Mafia Block - www.mafiablock.com
Mafia Block was acquired at some point in 2010 or 2011 (originally Island Mafia) and was recently re-released in May 2012 after a complete overhaul. Since that release, new flash "mini-games" have been added to the site (blackjack, slots, and high-low) where mafia players can gamble with their in-game cash. Users have the ability to purchase "VIP" status which earns them advantages to enhance their gameplay. A one-month VIP pack is $8. Users can also purchase "Diamonds" that they can use to train their character to better compete with other players.
Down On The Farm - http://www.idlemedia.com/apps/onthefarm/
Down on the Farm is Idle Media's first attempt at educational apps for children, released on April 5th, 2012.
MONSTER DOCTOR
Monster Doctor is an educational app for kids! Your child will have fun learning during their internship with Frank M.D. (Monster Doctor). While treating a variety of monstrous ailments they'll learn Color and Shape Matching, Counting and more. What's most important, is that they'll have fun doing it!
Backyard Buddies - www.backyardbuddies.com
Backyard Buddies was acquired in August 2010 for the express purpose of attaining the source code for programming Facebook social media games. Backyard Buddies is a casual game where you take care of your virtual "backyard" and the animals in it. You buy food to lure animals to your yard. Once there, you feed them and play with them to keep them happy. You also clean and decorate your yard to keep the animals content. The happier an animal is, the more "goodies" it brings. Goodies can be sold for gold to buy more food, decorations, scenery etc. You can also clean your friends' yards and feed their animals as well. Once acquired, the IDLM team took on redesigning the UI (user interface) for the game and some of the basic game features. What followed was a much cleaner version of the game that was faster, better graphics, and more user-friendly. They applied several small updates after the initial re-release in October 2010. In January 2011, they released a major revision update, including 27 in-game "achievements" that allow users to "share" their accomplishments to their Facebook wall. This allows their friends to see the accomplish and provides a link for their friends to add the game. This should foster viral growth of the game. (Initial Release Screenshots, Update/New Animals, Major Revision Screenshots) Idle Media began some early Facebook advertisements in December as a test, then rolled out more advertising in January. (Screenshot of Ad)
Backyard Buddies was re-released again after a major overhaul in June of 2012 with many game enhancements.
 
 
Other Acquisitions
ChixRUs was acquired for $4,000. TweetVibe was acquired for $1,000.
Each of Idle Media's acquisitions were made with CASH. The company has NOT diluted any stock since inception, demonstrated by no changes in the share structure.
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This success has been accomplished with relatively minimal paid advertising, instead relying on word of mouth growth and internal advertising on their own sites. Marcus Frasier said, "I commented in an earlier press release that as long as we met our benchmarks, that consistent, monthly growth should lead to substantial annualized gains in traffic. This is in fact what has happened. Our growth in traffic over the past twelve months has been manageable, which has allowed us to focus our efforts on maximizing revenues and profitability." Mr. Frasier also added, "We realize that we have to continue to innovate and grow our portfolio of sites, as well as exploit opportunities that we have to increase revenues through continued growth in advertising. As I have stated previously, when we begin to implement our paid advertising campaigns and more aggressive outreach to attract additional customers, we expect that both traffic and revenues will increase significantly."
IDLM Portfolio Summary
| SITE NAME | SITE DESCRIPTION | HOMEPAGE | FACEBOOK | | Datpiff | Industry leading free Hip Hop mix-tape sharing and downloading website | Dat Piff | facebook | | Hiphopearly | Hip Hop / Rap / R&B music singles listening site | Hiphopearly | facebook | | Prison Block | Browser Based social media prison game with 100k+ users | Prisonblock | facebook | | Backyard Buddies | Facebook Game purchased for FB source code, 30k+ users | BYB | facebook | | ChixRus | Gaming site for girls | ChixRUs | facebook | | Pre Themer | Customized backgrounds and themes for Palm Pre phone | Pre Themer | twitter | | Tweet Vibe | Customized themes / backgrounds for your twitter page | TweetVibe | twitter |
Financials
On March 30th, IDLM released an 8-k filing (LINK TO FILING) stating that revenues were understated by $213,000 in FY 2009 and $255,000 in FY 2010. Full financial restatements are expected to be released before the end of April, 2011. Until that point, all financial information listed in the tables below cannot be relied upon.
Fiscal Calendar
The company is deliquent on their filings, and investors are awaiting a restatement of numbers from 2009-present.
Annual Financial Summary | | FY2009 10K | FY2010 10K | | Net Revenue | $624,964 | $1,425,523 | | Net Income | $223,805 | $746,523 | *These values to not reflect the forecasted adjustments from the 8k released 3/30/2011
Website Statistics
Annual Website Statistics
| | 12 Months Ended December 31 2009 | 12 Months Ended December 31 2010 | Rate of Increase | | Unique Visitors | 20,403,802 | 36,494,595 | 55% | | Visits | 79,557,453 | 128,004,197 | 62% | | Page Views | 571,397,864 | 934,229,832 | 61% | | PV / Visit | 7.18 | 7.29 | |
Quarterly Website Statistics
| | Q3FY09 | Q4FY09 | Q1FY10 | Q2FY10 | Q3FY10 | Q4FY10 | Q1FY11 | | Unique Visitors | 5,053,551 | Not | Not | Not | 8,132,488 | 1/13/2011 | 2/15/2011 | | Visits | 18,705,424 | Provided | Provided | Provided | 26,690,104 | | | | Page Views | 125,984,906 | In | In | In | 214,375,591 | | | | Page Views / Visit | 6.74 | Filings | Filings | Filings | 8.03 | | |
Share Structure History
This chart details the changes in the share structure, as tracked through the filings provided to the SEC by both NGLF and IDLM.
| Reference Points | O/S | R/S | Float | | NGLF | 5,542,750 | 5,542,750 | 0 | | May 2009 | 5,542,750 | 4,975,000 | 567,750 | | Before 9/09 | 3,542,750 | 2,975,000 | 567,750 | | Post 9/09 (23:1 FS) | 81,483,250 | 68,425,000 | 13,058,250 | | Merger Effect | -23,000,000 | -23,000,000 | No Change | | Post-Merger SS | 58,483,250 | 45,425,000 | 13,058,250 |
IDLM is very undervalued compared to other highly rated websites, one of which recently went public was Zillow.com (Z) and has a $1 billion market cap.
Daily Chart
Weekly Chart
Hourly (60min) Chart
Chart thanks to "$-LL-$"
Compiled January 9th, 2011 by Hokiefan95. Financial data compiled by Wadi Rum.
Rev: 1/12/11 - Updated charts, verified share structure with T/A and adjusted "as-of" date.
Disclaimer: Information, opinions or ratings contained in the reports are submitted solely for information purposes. The information used and statements of fact made have been obtained from sources considered reliable but neither guarantee nor representation is made as to the completeness or accuracy. The document author accepts no liability whatsoever for any direct or consequential loss or damage arising from any use of this report or its content. Such information and the opinions expressed are subject to change without notice. This report or study is not intended as an offering or a solicitation of an offer to buy or sell the securities mentioned or discussed. Investors should conduct their own due diligence before investing in any companies covered. No compensation was provided to the authors for this document. The authors own shares of IDLM.
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