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Read the SEC filings, MYGG drop kicked Danny from the compnay for ethical violations. It is discussed several times in their SEC filings. He lied to MYGG, misrepresented himself, and on and on.
Danny is very much on topic at MYGG! They just settled a lawsuit with him and he walked away with HUNDREDS OF THOUSANDS OF DOLLARS worth of MYGG stock as the investors got fleeced! Most of the posters are here because of Danny! (Oh, but wait, we are supposed to feel sorry for him. That is typical BS when people are pulling the wool over your eyes. They play the victim.)
Protecting Danny and stopping people from discussing everything he has done to MYGG investors is a disservice to investors.
What he has done isn't right. Two sets of investors from IENT and MYGG have now lost a lot of money. Danny is a bad guy IMO.
If Danny embellished a 30 year old racing record.... that's not going to have any affect on his business now.
Danny's sins are much greater than that.
That is complete and utter crap. MYGG sued Danny over ethical issues, lying to them, misrepresenting himself, etc. It is reported in their SEC filings.
To try and defend Danny after he scammed two groups of investors is beyond IMO.
Danny is a S*B, plain and simple. I told the investors here that they would get fleeced just like those of us did on IENT when Danny was there. He comes here and the same thing happens.
And to say Danny has lost money here too??? LMAO
Really??? Oh, come now, how do you figure that??
It is the investors who got f-, for the second time. I posted here a lot when the stock was 10 cents, warning people to sell. Now some regulars are acting surprised at the turn of events???
Remember ALL those claims that Danny was still there, working away?? He was still running the joint??? BS. Don't believe the filings because Danny has it all under control. Right. (Wink.) They just wanted to create lies so the price didn't drop more and others would be holding the bag.
He fully knew that he had no right to go to another company while still fighting the IENT lawsuit. It was fraud on investors for him to come to MYGG and sell his load of crap over here. Shame on him.
Have you seen a copy of the lawsuit that MYGG has filed against Danny? No? Didn't think so.
"Absent some strange legal actions", Danny wins the day, right?
It won't take any strange legal actions to sink this ship. People need to get their head out of the sand. Dragging more shareholders into another disaster won't help.
This is now, at least, TWO LAWSUITS! It doesn't get more real than that. MYGG won't fight Danny's battle for him with IENT. They want out and who could blame them?
And don't accuse those of us who post our concerns as trying to "bring down" the stock price. LOL That is complete BS. I was an IENT shareholder and never posted any of my concerns publicly, then I watched MYGG become a mess, still I was silent.
Investors don't deserve this. Until Danny fixes his mess with IENT, every place he goes, a lawsuit will follow.
By the way, the MYGG lawsuit against Danny and IENT's lawsuit against Danny, and IENT's lawsuit against MYGG... they are all so much more complicated than whether Danny will have control over MYGG. That is only one issue out of many and certainly not the most important.
And those that call this a 2-3 year hold.... really???? Cause those 2-3 years won't be building years for the company, they will be lawsuit fighting, company destroying years. Certainly not a buy and hold time.
I wish everyone the best of luck, but please, move forward with your eyes open. People have lost enough money already.
GLTA
IENT's resources and team members were used to develop the game.
When Danny was working at IENT, what was he working on? The game. The beta testing, getting sponsors..... That was all under IENT. Did Danny bring the game to IENT? Yes. But once Danny was at IENT, the game was fleshed out and developed. Who did much of the work at IENT for the game? Danny. What company launched the game? IENT
Why is there a lawsuit now? See above.
MYGG submitted SEC disclosures saying Danny resigned and he submitted it in writing and then he tried to deny it. If it is in writing, that will be easy to prove.
here's what I have a problem with....
My comments are based off of MYGG's public statements and SEC disclosures from their management.
You are saying that we don't know what happened because this is a small company and we don't know "what kind of powers to be" actually fired Danny. HUH????
The MYGG board fired Danny!!! It was announced in their 8-k filing!!!
So, now MYGG management is full of liars and cheats..... Along with JW? But Danny is always right and everyone, in both companies, is trying to screw him?
I can understand the complaints about JW, but come on. That is ridiculous.
I have someone telling me that Danny's still there, working away..... When all the public statements by the company and their SEC disclosures state otherwise. The board has literally kicked him out. Can we at least agree to that?
Now Danny may feel that isn't right and he can take them to court or try to settle with them privately. But as of right now, he's gone.
And that's not speculation.
Well, someone is funding it, aren't they?
FYI, business litigation suits are not done on contingency.
And MR40 told me that JW was a millionaire.
This lawsuit seems pretty important to JW, he has added MYGG to it, he isn't slowing down.
What is wrong with it?
IENT is on topic here, they are even suing MYGG, can't get more on topic than that.
JW is a millionaire and is probably funding the lawsuit himself.
IENT's resources and team members were used to develop the game and it was released by IENT. JW is going to claim that at some point, it became IENT's game too.
The language of the LOI and Employment Contract are going to be very important. I'm not defending JW here. I think he's a sh*t. But this is really complicated and much more complex than many realize.
I think Danny completely screwed up in his execution of this. Everything was done in a half assed way, so now everything is marred in lawsuits.
IENT shareholders got hosed and now MYGG shareholders are going to get hosed.
Danny will not be able to move a pinkie without JW suing anyone who tries to do business with him. Until the lawsuit with IENT is won or settled, Danny is screwed. This is going to take a long, long time. The PPS will fall and people will act surprised.
I just saw so many problems with IENT that Danny refused to acknowledge, it was a train wreck from the start in many ways. Now this. Don't lose your money, wait till the dust settles and then see if there is a reason to be here.
GLTA
When there is a merger, you don't go work for the other entity and develop your ideas and projects before the merger is complete. Danny only had a LOI and now the question becomes what is Danny's property and what is IENT's property. That's where things get messy because Danny put the cart before the horse.
A contract job and a merger are completely different. Your employer can sue for their bill at the end if they don't work something out. Danny put his ideas, games, etc. into the other entity's hands, not just billable hours. Once you commingle assets, ideas, etc. without the merger being complete, it raises the question of who owns what. A lot is going to depend on how the LOI is written and the Employment Contract. (The Employment Contract makes it even more screwed up. For instance, if Danny was an employee, who owns what he was working on? Normally, when you work for a company, everything you develop belongs to the company, if you are on company time.)
My point is that Danny brought a lot of this on himself. And it is more complicated than people think. This is not going to be settled quickly. Protect your gains.
How could they not know? It depends on what Danny represented to them and told them. He has a duty to tell the whole truth and now MYGG is being sued by IENT. And we know MYGG was investigating Danny for ethics violations and fired him.
That is BS about the PR. The PR was about Danny's company! Heck, Danny could have released his own PR on behalf of his company telling the truth! JW did not tie his hands and make Danny lie. Danny is a big boy, it is time he started acting like one.
Does anyone have a copy of the LOI and his employment contract?
That works both ways, doesn't it? Danny allowed the investors to believe the merger was complete too.
It is easy to blame JW for this whole mess, but I see all the mistakes Danny made that got him, and the investors, into this mess.
Until the whole case comes out, we don't know all the details. Such as, why would Danny give all that time and his talents, working as if the merger was complete? That makes no sense and I don't think we know the whole story. You don't give your time and talent and then claim there is no merger, I'm leaving. For him to work without a signed merger agreement, if true, is beyond DUMB. This is not Danny's first rodeo, if he was truly working without a signed merger contract, he's a fool.
JW will claim that Danny was working under the LOI and he broke it and left. You can't do that. Danny's mistake was doing too much before the merger was complete, that complicates his ability to cleanly break the LOI and leave.
I was an IENT investor. I'm well aware of the Danny vs. JW war. I have been following MYGG because I was curious to see how Danny would do here.
I called Travis county today and they don't put their cases online for the public . It takes about a week to get a copy of the case after it is ordered. Without reading it, we are only guessing, but I think MYGG is going to say that Danny did not fully inform them about how he left IENT, whether he had the right to bring his ideas, games, etc. over to MYGG. MYGG is going to say that Danny knew this was a mess and never informed them, therefore any contracts or agreements they had with him are kaput. When you enter a business relationship with someone, you have to be honest and truthful, I think they will claim he wasn't.
That just means they don't get an injunction before the case is fully heard. It's not a ruling either way on the merits of the case.
Who was the injunction going to be against? Danny or MYGG?
If MYGG is now being sued by IENT, my bet would be that all these lawsuits are tied together.
Paul filed the most recent 8-K as the President and CFO, clearly he has authority since he is filing SEC disclosures. According to the company's filings, the board has drop kicked Danny as Chairman and CEO because of ethics violations and they are suing him because of them.
Someone should get a copy of the court filing and post it here.
Something is wrong when everywhere Danny goes lawsuits follow..... He is 2 for 2 now.
This is very bad and I hope people use common sense and protect any gains they may have.
GLTA
Paul isn't suing Danny. MYGG is suing Danny and unless disputed in court, Paul has the authority as head of MYGG to sue Danny. Paul is listed as the President and CFO. These are serious accusations against Danny.
Perhaps someone could get a copy of the lawsuit and post it here?
Seems like everywhere Danny goes problems follow.
GLTA
Hey Salty, sent you a PM over there.
That is laughable. There is no way that is the issue that is getting him fired. but it was funny reading!
Congrats! Yes, revenge can certainly taste delicious!:) LOL
Don't worry, I have faith in the Team of Destiny! Fingers crossed!
LOL I guess opposites really do attract. Just tell her you have the bridge playing covered and she gets to use her talents elsewhere. She probably wants to share with you one of your favorite things, which is very sweet. Or maybe just understand the game, so she can follow along when you talk about it.
Good luck at the tournament!!!
That sounds really exciting! You are lucky to live in a place with so much natural beauty. I haven't been on the boards in the last few months. Glad to hear you weren't near the storm. Hope your bridge is going well!:)
Hope you and your wife are safe and protected from Arthur. Thought of you when I heard the news. Stay safe!
I thought they were giving their presentation on Sunday at the conference. This article and their last PR makes it sound like they have already presented at the conference. Does anyone know if they are still presenting on the 9th or not? I thought for sure Sheff said the company was presenting on Sunday.
gotta weave a tale better than that! put some imagination into it, the old party line gets boring
"Time will tell with Sirg and the slow but ongoing permit progress."
Exactly, at least SIRG is still working on their permits. And we know it is actually true.
From your experience, what do you think about St. Judes?
Wow, just checked the closes and lots of green on this board's stocks. Looks good!
I gotta say, I hate the giving pledge. I have seen so many charities become corrupt with power and money. They have the same issues as people once they get too big, too wealthy, etc. The Red Cross is one example. We had a flood in our town and they were giving people tiny little bottles of Clorox to "clean" their water damaged houses. Not even a normal sized Clorox bottle, it was a mini one. So insulting to those people really affected by the flood.
I'm not against helping people, I just think the giving pledge is full of it. If people helped those around them that they come in contact with everyday, that would change the world. If I see people in need, I try to help when I can.
Sorry, don't mean to be cranky. But every time I see Buffet or Gates talking about their giving pledge or raising taxes on the "wealthy", I want to throw up. They want to increase the death tax and it is outrageous.
I'll get off my soapbox now. LOL
Sorry to hear about FFIS. It seems like an indefensible decision by the board.
There is clearly a mutual dispute between SIRG and Rizzo. Rizzo is the consulting firm for the BLM permits.
Quote from the most recent 10-Q:
On July 30, 2013, the Company was issued a Letter of Understanding by Paul C. Rizzo Associates, Inc. whereby the Company and Paul C. Rizzo Associates, Inc. mutually forbear taking any actions against each other on any matters until January 1, 2014. Disputes have arisen with
regards to the February 5, 2013 agreement (see Note 6) and the Company and Paul C. Rizzo Associates, Inc. have agreed to commence discussions and take no action against each other until after December 31, 2013.
The BLM permitting is almost complete. From their filing, it looks like the pause that they have taken is because of a dispute between SIRG and Rizzo regarding their bill and the scope of work provided. Once the BLM process resumes, it should only be a few months until it is done. The APP (water permit) is still going through its permit process. That's being done by CDM Smith.
I think SIRG will come to an agreement wherein Rizzo finishes the little bit remaining and SIRG agrees to honor their bill.
The overall mining industry right now is taking a beating. Funding has dried up and things are tough. It is not just SIRG that's suffering as I'm sure you know.
"First of all, it wasn't a dump but a buy with a form t."
Thanks for clarifying that, the truth is important to post.
Thanks, appreciate it. I guess their news slipped by me somehow. It doesn't seem to have hurt their PPS any, which is very good.
Hi Salty,
I have been in and out the last few weeks and need to catch up with the posts here. Has SGBP come out with any news about the quarter? I haven't found it anywhere.
The PPS is looking very good though, up about 300% from where I bought. Thanks again for recommending this sector.
Rizzo is the consulting firm in charge of the BLM permits. The permits are almost fully complete right now.
The disagreement between Rizzo and SIRG is about the work and its cost. This is very common in business, especially when working with consultants.
From the filings, it looks like there is a disagreement between SIRG and Rizzo over their bill and the scope of work. Meaning, SIRG believes for the amounts billed, Rizzo was supposed to complete the permitting process with BLM. That's the disagreement.
This is common in business. If SIRG believes they are being billed in excess, I hope they do stand-up for themselves. It only benefits the shareholders.