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What was that all about this morning?
Yeah, so much wasted potential here.
And it’s also frustrating not knowing what caused the last run up or whether it’s going to happen again or not. The way it traded after the breakout was like someone engineered a run up to get out. And if that’s the case, then this will remain idle and slowly drift lower, back to sub penny again.
I really hope I’m wrong but I have not seen anything positive in the past couple of weeks now.
Just living up to its name...IDLE...
Back to stagnant.....
As we dip down below my average I’m tempted to pick up some too, though not sure how good an idea it is.
I'm in, let it trickle to .00s again.
Been thinking about this over the weekend. If you’re correct, and Marcus is listening to his attorneys, then that would support the idea that the proceeds from the sale of datpiff still remain in idlm.
So, maybe there’s more to come, who knows. It’s disappointing we’ve returned to basically zero interest again, with no idea where all the trading came from, who was behind it, what the purpose was or if it’s going to happen again.
I may just do that. I’ve been thinking about it for awhile now and put it aside when things started to pick up around here, but it may still be needed.
I’m open to suggestions on who the letter should go to, what it should say, etc.
I heartily encourage you to try this. What could you lose?
Yeah, it’s hard to say exactly what game is being played. While there was a lot of buying the first couple of days, it has been mostly selling since then.
Either way, I’ve been here for years and am in for the long haul.
If he’s listening to his attorneys, why hasn’t he filed any updates? I still think a well-placed complaint letter to the right person could light the fire under Marcus, at least in that regard.
If he gave shareholders even the most basic of updates, I think it would make this low-floater that much more appealing and we could truly take off.
Only thing we know right now is it’s still Hotel California
Maybe so. He's hard to understand or predict.
However, my sense is that his brush with the SEC really changed his outlook on legalities and lawyers. Before the SEC investigation, he was making it all up as he went along -- running Datpiff out of his personal Paypal account, filing earnings numbers of whatever quality, relying on Shaheen for advice even after it was clear none of the going public scenario had played out the way he had been led to believe.
After the SEC investigation, our emails were filled with "My lawyers tell me..." I was frantically trying to come up with suggestions for how he could make a tender offer to buy back shares, or spin off Datpiff into a new, clean shell, or other ideas. And it was always "My lawyers tell me..." or "My legal team has informed me..." I don't think he would want to get caught with illegal insider buyer. I just don't see that. Maybe the pre-SEC Marcus, who might not have really cared to know the rules or ask a lawyer, but not the post-SEC Marcus.
Nor do I think Haddock would be buying or selling shares. His wife is a very prominent compliance officer for a prominent Wall Street Company. No way he is getting within 10 miles of breaking a law.
Or perhaps a friend of Marcus's. That was always one of the strange things about this -- why weren't big money-making people in the music business buying IDLM shares? So, maybe they are now??
I don't know, but I am sticking with the story that someone is accumulating shares to run IDLM way the heck up. As I get more funds from another play I am in and as IDLM prices drop, I will be a buyer here.
If Marcus had an LLC set up for his son wife (Might be hard to uncover if offshore) it could purchase shares and at some point do a payout. Not really legal without disclosure but nothing has stopped him before
Could be both. Someone might have run it up to get others to pile in and help him to sell at better prices -- AND this could be a very interesting low, low, low floater that others are accumulating.
Someone was buying every share that someone else sold. And a large share of the float changed hands between my selling over the years (mainly 2020) and this flurry of activity.
At 1.6c, the float is worth $160K. That's peanuts.
Yep, can’t really disagree, I’m kicking myself a bit too for not selling some earlier.
But, still not sure this is over just yet, questions remain. Was it a shareholder looking to get out or was it someone looking to get in? If it was someone getting out, they’re long gone and laughing at those of us holding the bag. If not, then there’s still potential here with this share structure and the proceeds from the sale of datpiff (maybe).
Should have sold more of this pig the last few days, when somebody was willing to pay .036/share.
Looks like we are headed back to sub-penny land soon..... where we will be lost again for a few years.
Sad that the CEO doesn't act like an adult, honor his responsibilities to the shareholders, and follow the law. After all, he signed a consent decree a couple of years back, promising to comply with all Federal securities reporting laws.
He's never filed a thing since.
That's what I call an incompetent and unqualified CEO. What a jerk.
Thanks, that’s good to hear, my crystal ball is broken.
All great points. It’d be nice if there were more eyes on it.
The potential is here, just need the catalyst.
At 1.6c, the entire float of IDLM is valued at about $160K. The lowest floater of the low-floaters.
Combine this with the possibility that the CEO didn't grab all of the Datpiff proceeds for himself, so that there might be 20c or more per share in net asset value, I think you are correct about IDLM at these prices.
Big drop on low volume. Good spot to scoop a few more and wait.
Yes, I do. Between the shares I sold last year and the share bought on this run-up, somebody has a boatload. They bought them for a reason, and that is to sell them much higher. But my crystal ball is not good on timing.
Still think there’s more to come?
We need some volume to get this moving again. I figured idlm would have gotten more attention on that last run up.
If that’s the case, let’s hope we haven’t seen the end of it. I agree that, with the current share structure, this thing can fly with the slightest buying pressure.
Marcus has never been the sort of CEO who lets out a bunch of insider information. I doubt anyone knows anything. From the discussions I've had with people, this is all about IDLM having a super-small float.
A lot of selling here the past few days, but looks like we’re holding strong in the 3-4 range. It’ll be interesting to see how this plays out the next few weeks and to see whether or not there’s anything behind the recent trading.
That’s the big question. Is it a group that is just playing the low float or do they know about something coming that we don’t?
As you said, there hasn’t been a pump... yet. And, there still seems to be interest in 3s, so you’re probably correct that this isn’t over, just a cooling period.
Glad to see you're still around. So sorry for your IDLM loss. I hope you are staying safe in these strange times.
I wish Marcus could meet the folks who trusted him and invested in him.
Volumes dried up alot in these pennies..even RH runners are flat..moneys going into blue chips today..I'm flat everywhere.
ok WADI still here old friend havent looked at this in attleast a year was surprised to see u active again still have some of mine left & HOPING for a decent outcome while still on this earth..
Well, what started it the last time? It wasn't a PR or paid promotion. It was just people thinking that if IDLM went up, then people would buy on the momentum. It would help me get cheap shares to say that I think this is done, but I don't think it is. There were a BOATLOAD of shares traded. Penny stocks don't always move straight up.
Of course it would be great if Marcus would deign to let his shareholders know anything at all about their company. But that's evidently not something he is doing.
Still the float is only about $300K, and shares cannot be added to it. So, I happen to think that the share structure is enough to get this to move higher.
And, then there's also the likelihood that there is 20c or 30c per share of net assets in the company if Marcus didn't just take them for himself.
My question, what are we waiting on to get this party started again?
Good morning Idle Media!
Got some lowball bids in place. Trying to get more shares on the cheap.
good repore' my friend 'Idle Media, Inc. (IDLM)'
Idle Media Inc (PK) (IDLM)
0.042 ? 0.002 (5.00%)
Volume: 181,951 @02/26/21 3:59:31 PM EST
Bid Ask Day's Range
0.0308 0.042 0.033 - 0.042
IDLM Detailed Quote
Float is only 10M shares. Value of the float is only $400K.
Best part is that IDLM cannot issue additional shares, and restrictions cannot be lifted.
The float cannot change (apart from a 3M share position that is unrestricted, but held in the form of certs).
Also, IDLM is a real company. It used to own Datpiff (which included all the rights to all the music posted on it). I gotta believe they got $12M for it. That right there is 20c per shares.
Did the CEO just give all of that cash to himself as salary? Maybe. That would be a heckuva tax hit all at one go. And there were other assets: some games, HipHopEarly, some sort of Pokemon trading platform, a House version of Datpiff that they built and never launched.
The float is only $400K. Buy it all, Mick!
YES GOOD READS HERE 'Idle Media, Inc. (IDLM)'
Idle Media Inc (PK) (IDLM)
0.042 ? 0.002 (5.00%)
Volume: 181,951 @02/26/21 3:59:31 PM EST
Bid Ask Day's Range
0.0308 0.042 0.033 - 0.042
IDLM Detailed Quote
WOW Idle Media Inc (PK) (IDLM)
0.042 ? 0.002 (5.00%)
Volume: 181,951 @02/26/21 3:59:31 PM EST
Bid Ask Day's Range
0.0308 0.042 0.033 - 0.042
IDLM Detailed Quote
Looks like we’re at a stalemate- someone wants 3 and no one’s giving them up. They’re going to have to raise the bid to get anymore.
If M has an another entity buying shares to capture a payout he is still at risk to be sued but I am sure his mind does not process in that way.
Forgot to add that corporate insurance doesn’t cover him for fraud breaking the law etc
Agree M can do anything but doesn’t make it legal. I doubt he does his own accounting I would include that person/firm in any action
IDLM should have the cash from selling Datpiff. We don't know how much that sale price was. And we don't know how much Marcus has been paying himself.
If he sold Datpiff for $6M, then there should be 10c per share sitting in IDLM's bank account -- unless Marcus decided he wanted to put that money into his own pocket by paying it to himself as salary or bonus.
If he sold Datpiff for $18M, then that would be 30c per share.
And here IDLM sits at 4c or whatever.
I think most people here would be happy if Marcus were to announce a tender offer at 10c for taking IDLM private. But that would entail him stepping up to the tune of $1.3M. The tax advantages might be worth it to him, but I wonder if Marcus would do something good for shareholders even if it was also in his benefit.
I’d think the shell would be worth something
Wadi, thanks again.
I would think Frasier’s old business partner (sorry, don’t remember his name) would have something to say if datdiff was sold, without the proceeds going into idlm. Doesn’t he still own millions of shares? If it were me and I found out about it, I would get my attorney involved to make sure Frasier did the right thing. Wouldn’t even necessarily have to have a lawsuit, just some pressure and a reminder of his obligations.
If datpiff was sold in 2019, there has been plenty of time for wrangling in the background.
Now that datpiff is not part of Idle , what valuable assets does Idle actually have ?
But what was to stop Marcus from declaring a $30M bonus for himself, emptying the coffers at IDLM (or if not $30M, then whatever he sold Datpiff for)?
I have no idea what the guy is doing, but in my communications with him, he always avoided taking anywhere near full responsibility for what he did to his investors.
So, I'm viewing this as a situation where shares are being accumulated for purposes of running the thing up. It is the PERFECT vehicle for doing so, since no new shares can enter the 10M share float.
Bank records are things that don’t go away bitcoin maybe. Datpiff can’t just disappear without a trace and sooner or later someone talks
I wondered about why Frasier only sold Datpiff and not the entire public company. Maybe the buyer didn't want a public company? Or, maybe the reason is that selling the entire company would have benefitted the shareholders as well as him -- and maybe that is not the way Marcus wanted this to turn out.
Let me explain. He apparently sold Datpiff in exchange for a bunch of cash that went to IDLM. Maybe $30M? (Remember that Datpiff owns the copyright on all of that music...) So, once the cash was in the company, Marcus could simply give himself a $30M bonus and he'd have the money in his own bank account. He'd face a big tax bill, but the money would be his and he'd leave us with nothing.
OR, what if he persuaded the company that bought Datpiff to buy the entire IDLM? For that same $30M purchase price, the folks that bought Datpiff could have paid 50 per share in a tender offer. Marcus has a controlling interest in the stock, so he'd accept the tender offer. The buyer would end up with Datpiff plus the public company. Marcus and all the shareholders would get 50c per share.
The problem with the second strategy is that Marcus would only get $20M, instead of the full $30M, with the other $10M going to shareholders. I think that is why he didn't sell the whole company. If not selling the whole company ends up being a legal liability in some way -- and Marcus does seems to have a history of taking shortcuts that cost him more than he was going to save through the shortcut -- then he might live to regret not getting rid of the public comp.
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