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Love this post from the guy that called this company a pump and dump. Textor took this company from OTC origins to a billion dollar IPO as a NYSE pubco. Handed over to Gandler who supercharged it to a $4 billion market cap. Fraud Killer - thank god nobody listened to you.
from your lips to god's ears, but he must be listening. this stock has juice
Morgan Stanley buys 5.1% of fuboTV in Open Market - suckers have been selling to Morgan Stanley!!!
https://www.sec.gov/Archives/edgar/data/895421/000089542120000530/fubotv.txt
Do you think so? You might be right, but what's your logic - and how much?
Sorry - its not NYSE-Amex - FUBO went NYSE Big Board
FUBO IPO sees high demand - FUBO upsizes Capital Raise
https://www.nasdaq.com/articles/sports-streaming-platform-fubotv-prices-upsized-ipo-at-%2410-midpoint-2020-10-08
Lawsuit Dismissed: This is you right?
I am not a lawyer but it looks like you will be paying sanctions soon. Whatever that means, but it sounds expensive.
From the new S1 Filing:
Scott Meide vs. Pulse Evolution Corporation et. al.
On August 27, 2018, plaintiff Scott Meide filed a complaint in the United States District Court for the Middle District of Florida, Jacksonville Division against PEC, now one of our majority-owned subsidiaries, naming its former officers, among others, as defendants. The plaintiff’s claims are based on three investments: (i) the purchase of 750,000 restricted shares from PEC for the amount of $300,000 on July 18, 2014; (ii) the purchase of 800,000 shares of PEC from defendant Gregory Centineo in July 2015; and (iii) an investment in Evolution AI Corporation in 2018 in the amount of $75,000. Until recently, Mr. Meide was proceeding pro se. Although he has pled multiple claims, the crux of Mr. Meide’s claim, at least as pled in the Second Amended Complaint, which is the operative complaint, is that he was fraudulently induced into making all three investments. The complaint contains a claim for federal securities fraud which forms the only basis for federal jurisdiction. All of the defendants have moved to dismiss the Second Amended Complaint on various grounds, including, but not limited to, the ground that the plaintiff Mr. Meide lacks standing to bring the claims since the purchases of securities were made by Jacksonville Injury Center, LLC, rather than Mr. Meide in his individual capacity.
On June 29, 2020, an attorney entered an appearance for Mr. Meide and filed (i) a motion to substitute Jacksonville Injury Center, LLC as the plaintiff and (ii) a motion for leave to file an amended complaint. All of the defendants have filed oppositions to the motion to substitute and motion for leave to amend. The proposed new complaint continues to allege fraud, but also purports to plead a shareholder derivative lawsuit in connection with a claim of an improper transfer of assets to FaceBank Group, Inc. The new proposed complaint also names FaceBank Group, Inc. as a new defendant. Discovery in the matter has been stayed since July of 2019. The matter is set for trial in September of 2020, but we do not expect the trial to go forward given the pending motions to dismiss and stay of discovery. We believe the lawsuit has no merit, and we intend to vigorously defend our position.
On September 4, 2020, the court entered an order dismissing with prejudice Mr. Meide’s claim for federal securities fraud. In its order, the court directed the clerk of court to enter judgment in favor of PEC and related defendants on Mr. Meide’s claim for federal securities fraud. The court also denied Mr. Meide’s attempt to file a third amended complaint or substitutes plaintiffs in the action. The court dismissed without prejudice the remaining state law claims on the ground that the court declined to exercise supplemental jurisdiction over them. The state law claims may be reasserted in state court. The court also reserved jurisdiction to determine whether an award of sanctions against Mr. Meide is appropriate. The court has ordered the parties to mediation with respect to the issue of sanctions and, in the event that the mediation is unsuccessful, the court has indicated that it will set a deadline for the filing of any motions for an award of sanctions against Mr. Meide.
Agreed - third quarter growth guidance numbers are amazing
285,000 subscribers at end of 2Q
380,000 subscribers guidance at end 3Q
33% growth in one quarter
- and this company is still a bit of a secret
Disney reveals surprise stake in FuboTV
https://www.broadbandtvnews.com/2020/08/12/disney-reveals-surprise-stake-in-fubotv/
AUGUST 12, 2020 11.13 EUROPE/LONDON BY JULIAN CLOVER
Sports broadcaster FuboTV has filed an IPO with the Securities & Exchange Commission.
It follows last April’s merger between the streaming platform and the Facebank Group. FuboTV had initially planned to release its financial results on Monday, but it now seems that the delay in doing so was the result of a move by Walt Disney Co to acquire 6 million shares in FaceBank. The share represents about 5% of the company.
FaceBank, which makes avatars and characters for virtual entertainment is in the process of changing its name to that of the company it acquired.
Its believed FuboTV has between 300,000-400,000 subscribers.
In June, Fubo TV announced a new, multi-year carriage agreement to bring 13 Discovery networks to Fubo TV’s live TV streaming service, suggesting an expansion beyond the sports market is on the cards.
The company is definitely real. the poster that has an admitted plaintiff bias still thinks it's a sham. His loss. Maybe he will read the IPO filing today and come to his senses. The IPO, which is really an uplisting, is being underwritten by six respected investment banks.
Evercore ISI
BMO Capital Markets
Needham & Company
Oppenheimer & Co.
Roth Capital Partners
Wedbush Securities
These guys know how to do due diligence and they too think the company is pretty real.
Man you are a nut. so a company CEO has the company pay expenses on his American Express card. So what? It sounds like an expense reimbursement. The company is a public audited company and all of those routine cash flows would have been scrubbed. No wonder your lawsuit has been dismissed already. Whatever he did seemed to work. Motley Fool just announced Disney's SEC filing today showing their ownership of Facebank. You may not like him but the Mouse does!
Be responsible, like the other posters on this board. Read the filings on SEC.gov and you'll see huge institutions and media companies that own this company. Go to the Investors section of the FacebankGroup.com site and you will see major investment banks hosting this company at their conferences. Credit Suisse, Jefferies, Needham. OTC pump and dump companies just don't have this backing. This really seems bizarre that you are on this rant. This little company became a bigger company and has plenty of smart money players behind it. You can post all you want to call it a fraud and nobody is buying it. My guess is that you have read the filings already and you just are too deep into you scorched earth plan to back out.
You don't even know what it means
The 'pump' is when the story is over-inflated, and untrue, so someone can 'dump' into the good news.
Be more specific. Where is the pump? Anything wrong with Facebank news? And where is the dump? Any evidence of insiders dumping Facebank stock? SEC filings show buying, not selling
Obviously you have a big ax to grind and it looks like you called this wrong and are pissed - but saying this is not a billion dollar market cap and this company is a fake just makes you sound lost
also looks like your lawsuit hasn't been too successful
That's true - but you missed the reason and this was addressed on the calls. Once the Swiss guy left that replaced Textor, he filed a form 15 to de-list. With no reporting and no audits for Pulse - and no way to prepare a prospectus of the combined company, their is no way they can bring in the non-accredited investors. That was the end of the tender offer. It's the SEC that says they can't take mom and pop - doesn't mean it was bad faith - just another tender that didn't happen.
Found it! - this lawsuit? 2 Year Old Case and Dismissed Twice and Stricken
Disclosure from the 10-K, Page 19
https://www.sec.gov/Archives/edgar/data/1484769/000149315220010180/form10-k.htm#a_006
On August 27, 2018, plaintiff, Scott Meide, filed a pro se (unrepresented by counsel) complaint in the United States District Court for the Middle District of Florida, Jacksonville Division, against Pulse Evolution Corporation, now a majority-owned subsidiary of FaceBank, naming its former officers among others as defendants. FaceBank’s position is that the pro se Complaint is defamatory, without merit in fact or law and represents an extortive attempt to coerce payment under threat of reputational harm. FaceBank’s subsidiaries and affiliates filed a motion to dismiss on September 25, 2018. On July 24, 2019, all counts of the complaint were dismissed in favor of FaceBank’s subsidiaries and affiliates. Mr. Meide was afforded the opportunity to file an amended complaint for a portion of his claims, and such amendment was filed on September 24, 2019. On October 6, 2019, Judge Marcia Morales Howard ordered Mr. Meide’s amended complaint stricken, describing the filing as insufficient and having failed to identify facts necessary to support its allegations, and offering Mr. Meide “one final opportunity to properly state his claims” with an amended complaint. Mr. Meide’s third attempt to submit a sufficient complaint was filed on November 1, 2019. On November 22, 2019 FaceBank’s subsidiaries and affiliates filed a motion to dismiss the second amended complaint. On December 31, 2019 Mr. Meide filed an opposition to the motions to dismiss. On January 9, 2020, the court struck Mr. Meide’s opposition and on February 3, 2020 issued an order requiring Mr. Meide to show cause why the case should not be dismissed. Mr. Meide was given until March 6, 2020 to respond to the motions to dismiss filed by FaceBank’s subsidiaries and affiliates. Mr. Meide’s apparent final opportunity to oppose the defendant’s motions to dismiss was filed on March 2, 2020. FaceBank believes Mr. Meide’s most recent filing is a near carbon copy of prior arguments and filings that have either been dismissed or were stricken and that Mr. Meide’s final amended complaint will be dismissed. FaceBank plans to the ask the court for an award of sanctions and attorney fees in connection with Mr. Meide’s filing of a frivolous lawsuit.
How's that? So what's the fraud? You guys should track the history. they put out a bunch of press releases to buy shares in PLFX. bought more than half of PLFX shareholder by shareholder and paid out a ton of Facebank shares. All we had to do was swap shares. Then they buy FUBO and now it's a billion dollar company with big time shareholders and big time prospects. $1.38 depends on when you swapped.
Are you new at this? Where was the pump when Credit Suisse invested $20 million in early July?
An OTC pump and dump would email blast the news of a $20 million from an A-list investment bank to every OTC rag including this site. They buried the news in a 8K before a holiday weekend. They aren't pumping anything.
and Credit Suisse, Disney, Viacom and Scripps don't invest in pump and dumps. You got this one wrong. What's your deal?
https://www.sec.gov/Archives/edgar/data/1484769/000149315220012516/form8-k.htm
Item 3.02 Unregistered Sales of Equity Securities.
On July 2, 2020, FaceBank Group, Inc., a Florida corporation (the “Company” or “FaceBank”), entered into a Purchase Agreement (the “Purchase Agreement”) with Credit Suisse Capital LLC (the “Investor”), pursuant to which the Company sold 2,162,163 shares (the “Purchased Shares”) of the Company’s common stock at a purchase price of $9.25 per share (the “Purchase Price”), for an aggregate purchase price of $20,000,007.75. There were no underwriting discounts or commissions.
Spotify's First Investor Jorgen joins FUBO Board
https://www.businesswire.com/news/home/20200522005048/en/
Jorgen is also, a Forbes Midas List Investor:
https://www.forbes.com/profile/par-jorgen-parson/#79b754424722
Shareholder Letter from CEO - Revs up 96%
https://d1io3yog0oux5.cloudfront.net/_cc0e3887546c3dda70975efe119f5f31/facebankgroup/db/841/6665/pdf/fuboTV+Shareholder+Letter.pdf
with likely Billionaire Media Icon Chairmen?
https://variety.com/2020/digital/news/edgar-bronfman-jr-fubotv-executive-chairman-1234593290/
How many OTCs have one-on-one interviews with leading analysts?
https://ir.facebankgroup.com/press-releases/detail/31/david-gandler-featured-by-wedbush-securities-managing
just another OTC? Really? How many times have you seen a Bronfman like management team on an OTC? They are not long for OTC. Shareholders like Goldman Sachs, Disney, Comcast, Viacom. Typical OTC?
fuboTV and OTC:FBNK Facebank complete Merger
https://www.businesswire.com/news/home/20200402005130/en/FaceBank-Group-fuboTV-Announce-Completion-Merger--
OTC FBNK buys ROKU comparable fuboTV
Looks like buying ROKU pre-IPO
https://www.bloomberg.com/news/articles/2020-03-23/streaming-company-fubotv-is-said-to-near-merger-with-facebank
https://www.forbes.com/sites/dbloom/2020/03/23/fubotv-merger-facebank-group-online-video-skinny-bundle/#3ac4f49b4ab7
https://techcrunch.com/2020/03/23/streaming-service-fubotv-to-merge-with-virtual-entertainment-technology-company-facebank/
wrong - it can still be defamatory. it's just not actionable because of litigation immunity unless the statements are made outside of the litigation. the company also disclosed it as extortion. those are pretty strong words for a 10-Q. anyway what's the difference? the case was dismissed. see the 10-Q, page 20:
On August 27, 2018 plaintiff, Scott Meide, filed a pro se (unrepresented by counsel) complaint in the United States District Court for the Middle District of Florida, Jacksonville Division, against Pulse Evolution Corporation, now a subsidiary of the Company, naming its former officers among others as defendants. The Company’s position is that the pro se Complaint is defamatory, without merit in fact or law and represents an extortive attempt to coerce payment under threat of reputational harm and filed a motion to dismiss on September 25, 2018. On July 24, 2019, all counts of the complaint were dismissed in favor of the Company. Mr. Meide has the right to file an amended complaint no later than August 26, 2019.
Too many details to post, so here is a link to the new 10-Q
https://www.sec.gov/Archives/edgar/data/1484769/000149315219012597/form10-q.htm
2nd Qtr Stock Issuances and Pricing, from 10-Q
In March 2019, the Company raised $1.1 million in a private placement transaction by issuing 93,910 shares of its common stock for $11.28 per share to a Hong Kong-based family office group. The Company contemporaneously issued warrants to purchase an additional 200,000 shares of common stock to the investor in this transaction. The warrants feature an exercise price of $11.31 per share, and may be exercised at any time prior to March 31, 2020. The warrants were determined to be equity instruments and are therefore classified within stockholders’ equity in accordance with ASC 815.
The Company raised an additional $1.1 million through issuances of an aggregate of 670,980 shares of its common stock in private placement transactions during the six months ended June 30, 2019 to several other investors.
During the six months ended June 30, 2019, the Company issued 18,935 shares of its common stock, at a fair value of approximately $0.1 million or $6.90 per share, to settle a lease dispute.
DGLF News - Floyd Mayweather Deal
Emails to investors discuss deal with Boxer: http://www.pulseevolutioninfo.com
SEC disclosure: https://www.sec.gov/Archives/edgar/data/1484769/000149315219011633/form8-k.htm
From the email:
Imagine the greatest fighters of all time, facing off against one another, across time… To settle the questions we have all asked.
Boxing great Floyd Mayweather teams with Pulse Evolution to create the Future of Fight Entertainment....The greatest fights of all time that never happened, that could have never happened...until now.
Anything is now possible through the technology and the magic of pulse evolution… Muhammad Ali vs. Mike Tyson, Mayweather vs. Sugar Ray Leonard…and If you thought Mayweather vs. Conor McGregor was a massive global pay per view event, then how about Mayweather vs. Bruce Lee?
Today, Pulse Evolution and it’s strategic partner, Tsang’s Group of Hong Kong, announced the exciting new joint venture with possibly the greatest fighter of all time, 50 wins and zero losses, and the greatest earner in boxing entertainment - Floyd Mayweather.
Lawsuit dismissed in Favor of Pulse, says 10-Q
On August 27, 2018 plaintiff, Scott Meide, filed a pro se (unrepresented by counsel) complaint in the United States District Court for the Middle District of Florida, Jacksonville Division, against Pulse Evolution Corporation, now a subsidiary of the Company, naming its former officers among others as defendants. The Company’s position is that the pro se Complaint is defamatory, without merit in fact or law and represents an extortive attempt to coerce payment under threat of reputational harm and filed a motion to dismiss on September 25, 2018. On July 24, 2019, all counts of the complaint were dismissed in favor of the Company. Mr. Meide has the right to file an amended complaint no later than August 26, 2019.
Lawsuit is 3 months old. Filed by a guy representing himself without a lawyer. An answer or dismissal motion would be filed by now. Must be a reason you have only showed one side. Are you a short?
PLFX market has been thin since the company went non-reporting. The holders don't understand why a company in a quiet period would be quiet. So they think nothing is happening. All of the disclosures say otherwise but PLFX people need constant hand holding.
Not surprising that Recall moved first. The PLFX guy who started this whole tender just signed the BTOP 10-Q as CEO. PLFX should follow.
because they are trying to buy 150 million shares and there are at most 25 million shares in the float. the company has said this is only 10 million shares in the market. the form 4's show big private blocks have sold for $0.62. If a third-party company wants to convince the company to advise its shareholders to sell then they have to pay a fair price for the company, regardless of how its penny stock price trades. not to be cot, but try to buy 1 million shares of this stock and you will drive the price to $2.00. It's just not possible to get that much of it. Look at the chart from 2016. It took less than 700,000 shares of real buying to drive it up over $3.00
CSTI is not a 'guy'. It's a market maker. They have been the most active market maker on both sides. Remember how much buying happened at $0.09, then at $0.10, then at $0.18? That's hundreds of thousands of shares that can now flip at $0.25 to $0.33. Nothing wrong with that. It's just a bunch of different 'guys' that are trading the stock through the most active market maker. It's called liquidity and there is still not much of it in this stock. Since there is no news on the timing of this tender offer, a 'triple' looks pretty good to these sellers. Maybe someone with more patience then buys. That's also good.
$1.38 value - this is from the correct press release
https://globenewswire.com/news-release/2018/06/14/1524782/0/en/Recall-Studios-Offers-to-Purchase-Pulse-Evolution-Common-Stock-at-1-38-per-Share.html
"Recall Studios (OTC: “BTOP”) today announced its offer to purchase 100% of the unrestricted and open-market shares of Pulse Evolution Corporation (OTC:”PLFX”) for $1.38 per share. Together with its acquisition of Evolution AI Corporation, which was also announced today, the proposed tender offer would result in Pulse Evolution Corporation becoming a majority-owned subsidiary of Recall Studios, Inc."
Nowhere in this press release does it mention a min-max assumption or the $0.50 per share.
But as investors we can speculate what the deal would be depending on the share price of Recall at the time the tender happens. If the shares are at $0.50 per share, then Recall would have to give 2.76 Recall shares for each 1 share of Pulse to deliver $1.38 in value. If the Recall shares climb to $0.75 per share in the market, then Recall would have to give 1.84 shares of Recall stock to deliver $1.38 per share. And if the bottom falls out of the market for Recall shares and the shares drop to $0.25 per share then Recall has to give 5.5 shares of Recall stock for each share of Pulse stock in order to deliver the $1.38
It's a clear press release. It says $1.38 per pulse share. It's confirmed again in yesterdays press release from Pulse - $1.38
People just need to read the black and white as black and white. Exchange offer math is really simple. It works on the exchange value of $1.38 and regardless of the changes in the Recall stock, the tender offer is at $1.38
People on this board say the market is not buying this deal. The market is also holding the Recall shares pretty stable at $0.45 per share. That's the number that matters to Pulse shareholders - because that means 3 shares of Recall for each Pulse share held.
It's accurate - $1.38 is the deal - and your quote is from the wrong press release
There were two separate press releases on the same June 14 day from Recall Studios and the language you quote referencing $0.50 is not from the tender offer press release. That language is only from the press release announcing their private acquisition of a large Pulse shareholder:
"Under the terms of the transaction, subject to certain conditions precedent as described in definitive documentation, Recall Studios will pay $200 million (the “Purchase Price”) to Evolution AI Corporation shareholders in the form of newly issued common stock of Recall Studios, in exchange for 100% of the common stock of Evolution AI Corporation, which shall include an approximate 60% ownership interest in Pulse Evolution Corporation. The Purchase Price is based on an initial negotiated valuation of $0.50 per share of Recall Studios common stock, subject to a ‘min-max’ adjustment based on the average trading price of Recall Studios shares, such terms more fully outlined in the definitive share exchange agreement executed between the parties."
The $0.50 assumption for Recall in the above paragraph means that Evolution AI will get 400 million shares of Recall totaling $200 million of value. The min-max adjustment means they might get more or less shares of Recall for that same $200 million, depending on the market fluctuations of Recall stock.
This press release is NOT the tender offer press release of $1.38 per share. The language above only relates to the private deal.
Good point but it still makes an incorrect assumption. The tender says $1.38 per share in Recall stock. This will come after a massive amount of disclosures in the TO or S4. Read the disclosures from BTOP and you will see these docs are coming. This means the market will see 'all' before the deal is done and Recall shares will reflect all of this information about the combined company, the overhang, lockups, etc.
Why does this matter? because if the price of Recall drops then PLFX shares just get more shares to equal the $1.38. If the Recall share climbs then PLFX shares get fewer Recall shares. Either way it's $1.38 based on real market pricing of Recall shares.
The 'market' doesn't seem to get this because the market is basically the people on this message board - and its clear that the people on this board are not getting this.
Pulse Announces Opinion regarding Tender Offer
https://www.cnbc.com/2018/07/10/globe-newswire-pulse-evolution-announces-opinion-regarding-commencement-of-tender-offer-by-recall-studios.html