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funny how this board is fairly optimistic and the "raging bull" thread is pretty pesimistic !!! things do look grim, but what ever happens,...g/l
Show all filings for SPATIALIGHT INC | Request a Trial to NEW EDGAR Online Pro
Form 8-K for SPATIALIGHT INC
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29-Jun-2007
Triggering Events That Accelerate or Increase a Direct Financial Obligation or an
Item 2.04. Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
As of June 15, 2007, trading in the Company's common stock no longer occurred on the NASDAQ Capital Market and trading started on the Pink Sheets, LLC as a result of the review by the NASDAQ Listing Qualifications Panel and determination that the Company did not meet the minimum aggregate common stock value necessary to continue trading on the NASDAQ Stock Market. The Company is appealing the determination by the Panel. Its securities are now quoted on the Over-the-Counter Bulletin Board under "HDTV" pending determination of its appeal.
As a result of the stock no longer trading on the NASDAQ Capital Market, the Company's Senior Secured Convertible Notes, due November 30, 2007, became redeemable on demand by the holders at 115% of the principal amount plus accrued interest and late charges. If the Company fails to redeem any of its Senior Secured Convertible Notes within five days after demand, the conversion price may be reset from $9.72 per share of common stock to the lowest weighted average price for the common shares between the date a noteholder demands redemption and the date that such demand is withdrawn.
Item 8.01. Other Events.
On June 13, 2007, the Company received notice that the NASD intended to take necessary actions to remove the Company's common stock from listing on the NASDAQ Capital Markets. If the Company's common shares are delisted from the NASDAQ Capital Market, they would become "penny stock" within the definition of that term under the Securities Exchange Act of 1934, as amended, and would become subject to additional requirements in connection with the purchase and sale of shares.
Under penny stock regulations, a broker-dealer selling a penny stock to anyone other than an established customer or accredited investor must make a special suitability determination regarding the purchaser and must receive the purchaser's written consent to the transaction prior to the transaction, unless the broker-dealer is otherwise exempt. Generally, an individual with a net worth in excess of $1,000,000, or annual income exceeding $100,000 individually or $300,000 together with his or her spouse is considered an accredited investor. In addition, under penny stock regulations the broker-dealer is required to:
· Deliver, prior to any transaction involving a penny stock, a disclosure schedule prepared by the Securities and Exchange Commissions relating to the penny stock market, unless the broker-dealer or the transaction is otherwise exempt;
· Disclose commissions payable to the broker-dealer and its registered representatives and current bid and offer quotations for the securities;
· Send monthly statements disclosing recent price information pertaining to the penny stock held in a customer's account, the account's value and information regarding the limited market in penny stocks; and
· Make a special written determination that the penny stock is a suitable investment for the purchaser and receive the purchaser's written agreement to the transaction, prior to conducting any penny stock transaction in the customer's account.
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Because of these regulations, broker-dealers may encounter difficulties in their attempt to buy or sell our common shares, which may affect the ability of selling shareholders or other holders to sell their shares in the secondary market and have the effect of reducing the level of trading activity in the secondary market. These additional sales practice and disclosure requirements could impede the buying or sale of our securities. Our shares, in all probability, will be subject to such penny stock rules and our shareholders may find it more difficult to sell their securities.
agree this has consolidated very nice in the .077-.085 range. Its time to make that assault on .10 again
Good link to what the new deocom product will be used for. I think HDTV is going to benefit very nice with this contract.
http://www.deocom.com/contents/new_pro3.html
All the more reason I think that this stock is going higher. Lots of stuff going on behind the scenes.
good question !!!!
and where is this PR ?
This will have a great run. They just got financing and a new contract for new product coming out. These prices will look very cheap in a few months.
was told it was delisted. was trading yesterday like it was not about to get delisted.
ETrade just told me it was because of it being a BB stock, no extended hours price.
Which does not make sense.
I am not showing a bid/ask on Scottrade this morn.
look on yahoo and they do not show anything.
what gives, symbol change?
Still likely to have a good run despite the rise of the O/S. Company looks very attractive
They moved to the otcbb as of the 15th. They are also about to issue 13 Million shares it appears. Your float is about to expand by 30% i think.
PROSPECTUS SUPPLEMENT
TO PRELIMINARY PROSPECTUS DATED FEBRUARY 14, 2007
SPATIALIGHT, INC.
31,139,057 Shares of Common Stock
This Prospectus Supplement supersedes and replaces the Supplement dated May 7, 2007 relating to the issuance of 13,241,659 shares of Common Stock.
You should read this Prospectus Supplement and the accompanying Prospectus, as amended and into which this Prospectus Supplement is incorporated by reference, carefully before you invest. Both documents contain information you should consider when making your investment decision.
AN INVESTMENT IN OUR SECURITIES INVOLVES SUBSTANTIAL RISKS. SUCH RISKS ARE DESCRIBED UNDER THE CAPTION "RISK FACTORS" BEGINNING ON PAGE 6 OF THE PROSPECTUS ACCOMPANYING THIS PROSPECTUS SUPPLEMENT.
As of the date of this supplement, the Company had only 2,471,742 authorized and unissued shares available and is seeking an amendment to its Certificate of Incorporation to increase the total authorized capital to 200,000,000 Common Shares. Subject to approval of the proposed amendment by the Company’s shareholders at the annual meeting scheduled for July 13, 2007, we will issue up to 31,139,057 shares of our Common Stock having an aggregate value of $3,400,000 to the following persons (the “Investors”), each of whom is an underwriter under the Securities Act of 1933, as amended:
Southridge Partners LP
Southshore Capital Fund Ltd.
Pierce Diversified Strategy Master Fund, LLC, ENA
Enable Opportunity Partners LP
Enable Growth Partners LP
Iroquois Master Fund Ltd.
Of the shares covered by this supplement, the Company had issued an aggregate of 15,543,315 Common Shares with a value of $2,100,000 as of the date hereof. The remaining shares will be issued from time to time as determined by the Company pursuant to the terms of an Equity Credit Agreement dated April 24, 2007 (the “Equity Credit Agreement”) in the amount of $60,000 on each trading date specified by the Company (an “Offering Date”) at 100% of the closing bid price on such Offering Date, without fees or discount. The shares of our Common Stock covered by this prospectus supplement may be sold by the investors in one or more public or private transactions. The Investors may pay normal brokerage commissions in connection with any public sales.
Prior to June 15, 2007, our Common Stock was traded on the NASDAQ Stock Market under the symbol “HDTV”. As of June 15, 2007, our Common Stock is traded on the over-the-counter market and reported by the Pink Sheets, LLC under the symbol "HDTV". On June 18, 2007, the last sale price for shares of our common stock, as reported on the over the counter market was $0.09 per share. The Company is working with a market maker that is expected to file a Form 211 with the NASD to seek admission to quotation of the Common Stock on the Over-the-Counter Bulletin Board.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS SUPPLEMENT OR THE RELATED PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
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The date of this Prospectus Supplement is June 19, 2007.
I saw market maker VFIN show up this morning out of nowhere. That could be the one they were working with.
I have mini opera brewser installed on my mobile phone, and i can surf the internet. It looks like hdtv is no longer pink, it is hdtv.ob according to bigcharts quote search, can you tell me more? Thx
how do you post here if you have no computer
Its still trading and show signs of going green.
What happened with the symbol? Its showing me that the symbol is not valid. Anyone? I dont have accses to the computer,only cell phone. Thx
A PR on what the heck they are gonna do down the road is overdue by about two weeks...Still holding just wish they would kick the fire a little here.
Sounds good I've got all my shares I bought yesterday would like to ride this one back into the dollars and if they get sales going again new products etc no reason why it couldn't. Keep the info coming GL
Hell HDTV already has a purchase order for 1K units for sure. If this new product starts to sell you will see these orders go up.
Oh yeah it's bottomed and reversing. I've been chasing my tail with too many pinks lately gonna wait this one out a while I think. GL
I am looking for a PR for something about this.
This is the product of Deocom Co but HDTV signed a deal with this company for 27 million. See below
Deocom Co. Ltd has introduced its HD500 wearable monitor system that features 1,920x1,080-pixel HDTV resolution and has up to 45 degrees viewing angle. It supports stereoscope and see-through optic configurations for use with TV and DMB receivers, mobile phones, PMPs, PCs, and gaming devices. It is suitable as a 3D contents display device and as a sub monitor for various medical instruments and machines used in treatment, diagnosis, and operations.
The HD500 weighs 80g and comes with a rechargeable battery.
Minimum order is 15 units and will be available in July 2007.
Deocom Co. Ltd
Booth no: 7K22
Here is the deal where HDTV is going to supply DeoCom with LCoS imagers for this very same product
Spatialight Receives Purchase Agreement From DeoCom Worth $27 Million
Production Commences of LCoS Microdisplays for Head Mounted Display Units
NOVATO, Calif., March 16 /PRNewswire-FirstCall/ -- SpatiaLight, Inc. (Nasdaq: HDTV), a leading developer and manufacturer of ultra high-resolution Liquid Crystal on Silicon (LCoS) microdisplays, announced today that it has entered into a Purchase Agreement with DeoCom of South Korea. The agreement was consummated on March 9, 2007, and provides the terms and conditions under which SpatiaLight will supply DeoCom with LCoS imagers and associated products for Head Mounted Display applications over a period of three years. The estimated value of product expected to be sold by SpatiaLight under this agreement, given DeoCom's forecast, is over $27 Million. SpatiaLight has received a firm purchase order for the first 1,000 units to be delivered under this agreement and has commenced production of LCoS microdisplays for use in DeoCom's Head Mounted Display (HMD) units to fulfill this order.
Dr. Michael Jin, Chief Technology Officer of SpatiaLight, stated, "Technically, this product is similar to our core product, the T3, but with some modifications to the cell fabrication that allow for a faster response time. Several small drive circuitry and firmware modifications enable single panel operation, as well In addition to single panel designs, DeoCom also intends to manufacture the 'glasses' in a dual panel, dual channel configuration. This '3-D' HMD is capable of stereoscopic operation, and will therefore support some very exciting 3D applications. This is a new, intriguing and growing market segment."
David Hakala, SpatiaLight Chairman and Chief Executive Officer, said, "We are very pleased to have entered into this agreement that grew out of our memorandum of understanding signed in January. This marks an important point in our drive to diversify our customer base. To our knowledge, this is the first and only 1920 x 1080p near-to-eye product to be announced in the marketplace, let alone manufactured. We believe that this will become an important product segment for business travelers, gamers and anyone who wants total immersion while using video-based equipment. We anticipate that DeoCom will demonstrate this product in the near future to well known Tier 1 US companies in the gaming, personal computer and personal mobile electronics industries. We believe the market segments addressed by this product have tremendous growth potential and believe this is only the beginning of opportunities for this category of product."
About DeoCom
DeoCom, founded in Korea in 2000, is a developer and manufacturer of innovative near-to-eye (NTE) display products and is focused on selling near-to-eye high resolution display products into the consumer and professional markets. DeoCom introduced its first model of head mounted NTE displays in Korea in July of 2001 and continues to be a leader in the industry.
You can bet they have some stuff cooking.
A PR of future plans and events would be good. I wonder what they have cooking.
GO GO GO GO!!!!!!!!!!!!!!!!1
GL today already a 50k buy gone thru at .09 today we run up :)
fear will make a run here!! Fear of not getting in soon enough!!
Fear and greed!!!
I agree I think this will be back to .30 on some news easy.
Well in the .08's is the base now all we need is some new news or contracts etc went all the way to .25 on nothing so some news will make it go. GL
This will hit .20 again no problem.
Thu Jun 21 14:02:16 2007 EDT
New York, NY, Jun 21, 2007 (M2 PRESSWIRE via COMTEX News Network) --
BusinessNetWire's "Investor's Update" Focuses on the
Following Companies:
SOLANA RESOURCES LIMITED (PINKSHEETS: SORFF); GLOBAL RESOURCE
CORPORATION (OTC: GBRC); SPATIALIGHT, INC. (PINKSHEETS: HDTV); JAG
MEDIA HOLDINGS, INC. (PINKSHEETS: JAGH)
SO be it, let it run run run up up up!!!
I think we could see it today. THis was way over sold and on the way down there was just as much buying as selling.
I see us easily hitting .20 again.
Its been way oversold. When July gets here and the new product launches these prices will look cheap.
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