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Defaulted!?! Oh, sh1t! No revenue and now defaulting on notes as well? There seems to be no good outcome to this anymore. No wonder that REDG has been so tight lipped concerning their financial status. 9k down the tubes at this point? That hurts alot. What the he11 have these guys been doing with OUR money-this is infuriating! As a matter of fact what the he11 have these guys been doing period?
How many notes left to convert? I was under the impression that there was one due in July and others coming due in 2015? What do you think would be a 'good run'from this PPS? We would have to run 1000% to reach .01.
Is there an example out there of a company that had a similar share structure, used convertbles like this, and actually made it? Very curious. How many more notes to go? It feels as if Mr Powell will use every share available.
PR probably won't cut it at this point. Past news releases have not proved fruitful. Hanging in for revenue-it's the only thing that moves this hard north at this point. We are at least a year out? Just a guess. I've not been able to dig anything up on the giant size or potential advertisers. You?
'Working with' does imply that some business conversation has taken place. Let's hope the conversation was fruitful.
Time is not on REDGs side at this point. 'Tight lipped', leads to speculation and not a ton of it good. When certain statements are made regarding REDG business an investor should expect the company to meet deadlines they have set for themselves. As of right now, I agree, we are in a waiting game for sure.
Those that attempt to explain away prior statements by REDG concerning convertible notes, deadlines, news,etc-do themselves and others no favors and provide a 'pass' for statements that when not kept hurt the entire venture as a whole.
Don't get me wrong-I've got skin in the game so I want this to succeed. I just don't think that withholding important info regarding finances is a pathway to that success.
Unless you're going to sell at a loss that's where most of us are at. My average is .0053, but I'm not buying anymore debt. These convertibles have decimated the PPS with at least one senior member of the REDG staff showing no concern over the investors plight.
We go nowhere without revenue as most will no longer hold shares w/o significant news regarding profit.
The ideas are good, the team is talented, the choice of financing w/o explanation however, is holding this back and in fact may lead to the company demise. This is all my opinion of course. In 3 years we could all be '100thousandaires'...or busted...or somewhere inbetween. Who knows.
You have stated that you have determined to hold this for 15 months. So be it. What goals do you think will have been met at the end of that time period? Subsequently, where do you think the PPS will be at the end of your hold?
How do you define success as related to the current business plan and what do you believe is a successful PPS as related to that plan? Is .01 considered a success?
15 months more is a long time, so in the mean time tell me what you would like to see happen within that time period to bring this to fruition.
Thanks for the detailed response. Only one misunderstanding and after rereading my post I can understand why: I do believe the ideas of the REDG crew are good ones. It is the financing I am worried about-not the concept.
When the CEO of a company says, "That huge news is coming soon that will allow this to all make sense"...we should take him at his word, hold him to it, and wait to see what that huge news is all about. If I'm not mistaken was there also a mention made of Hollywood at some point?
This is now a true long term hold with any positive outcome years away. The REDG need for cash to keep the doors open through convertibles is ongoing and will not stop any time soon in my opinion. Does anyone see revenue on the horizon...I mean besides the notes?
If the giant size was coming out in July and it's now close to mid June, would we not have heard more about the release?
It's not that the ideas are bad, or that the REDG team is not talanted-they are. The obvious problem is no cash coming through the door.
Where are all the big advertisers? Do you think we still have them?
It does not feel as if we are on the cusp of big things-it feels more like we are close to the abyss. I hope REDG can pull us back and get this thing moving.
Don't think the share selling thing is gonna work. Why sell when a investor is so far in the red? Do you approve of these note deals? When do they end?
Think it's wiser to stay and call for positive changes, respect for the investor, and more transparency.
What happens in 'the mean time', will determine what happens at the end of your 15 month hold. Investors that have questions should have them answered in a timely manner, updates provided, and the financial status of the company is absolutely an aspect that we should be kept well informed of.
Only a foolish investor places sums of money into a company that he would trust blindly, does not check on, and asks no questions of. Even the best DD will change over time giving the ever changing conditions of business.
When the investors are the ATM machine that is funding this operation, their questions should be given top priority and every effort should be made to to keep them in the loop.
Let's see....'hard working folks at REDG"-'whine'. What a fine choice of words to give to the people who are BANKROLLING this entire venture. I think that you miss the point. WE are the hard working folks who are providing the capital for this to come to life.
If you think that asking hard questions about the company that WE have invested HARD EARNED MONEY in, is complaining....you've got the wrong picture. Folks will not sit back and watch their hard earned money get pissed away in questionable financing w/o complaint and asking tough questions. WE ARE the revenue at this point.
I can assure you that as hard as REDG staff is working, is as hard as we HAVE worked to provide the funding that keeps the doors open. These multiple toxic notes, negotiated behind our back, then paid for with OUR money...have utterly decimated the PPS. Investor confidence is shaken to the core, long term distrust has been created of REDG ability to manage their own finances, and this was good in what way?
REDG should show at least a modicum of thanks but instead a senior staff member provides the analogy of buying REDG stock to buying a used car. The money does not go to the car company he claims....well I'll be dipped in sh1t! REDG negotiates the terms, takes the money, issues the shares, and watches as the PPS is decimated as the notes come due-then stands back and wahes their hands like Pontius Pilate!?!
Far better that it is that we are treated like we are on the same team, striving for the same goal, kept in the loop, and treated not like second class citizens but as the people who had the faith to put our money down so there would be a REDG.
Yup. There is no two ways about it. Revenue or bust. Info that does not address revenue will be roundly ignored by investors.
Agreed. The reason I started kicking up dust last week was because of this communication issue. At some point names and numbers need to be communicated to us-and word will spread. You're right about the suspense of the books-don't need to know what's in em.
I will be referring back to the idea that we need to be communicated with a regular basis. As of right now-WE are the bank that funds this-it is OUR money that is buying the debt of these horrid convertible notes-and to be kept in the loop on a regular basis is not too much to ask.
Pretty good. Not bad at all. You really nailed it. I agree with just about everything except the high projection the PPS. We have a long time before, if ever, we see .20-.25 again.
Proven revenue to cover expenses and show profit is the only way the PPS gains and sustains itself. I think we are in for somewhat of a wait. Investors will not keep buying debt on a long term basis. At least this is the manner in which I see it. There might be somewhat of a spike come ComicCon but w/o proven revenue it will not sustain itself. According to REDG staff this may take months or years to come about. I don't know how REDG will sustain operations w/o a cash infusion of some sort. If the infusion comes through convertible notes we are in for a very rough ride. If the infusion comes due to merger,partnership,or outright revenue from advertising we could be sitting pretty good from this entry point.
I've bought all I'm going to buy w/o some meaningful information from the company. For me it's worth holding but not worth buying for the time being. Others will have different strategies I'm sure. I wish you all the luck with yours.
IDK. If they expanded his role to meet the needs of the investors then his position is worthwhile. As of right now, I agree with you. His answer to my questions seem to be, 'I cannot tell you that now" or, "I'll take that to the management." There are times I have thought his investor relation skills needed to be honed, but I believe he has been better lately. I think he gets or is starting to-THIS IS OUR MONEY and it's IMPORTANT to us. When the folks that are funding the company at this point, call, it's important to be knowledgeable, tactful, and provide answers. So far he has done that in the manner I believe he is being allowed to.
I appreciate the responses. Valid points are brought to the discussion by members in these last few hours/days and I read through every line. We all have skin in the game here. I will not refute a single post that I have written because I believe them to be valid points also.
I do think we want the same things but just see different means to obtain those objectives. I'm not buying anymore shares-I'll stand pat with what I have. While my potential reward will not be as great as some, neither will my loss if this goes completely south.
As far as not having the staff to deal with investor concerns-I disagree. REDG has an investor relations manager and I call on that manager to be more proactive with us because at this point we fund this entire operation. Kurt is a decent enough guy, has not always answered my questions in the manner I was satisfied with-but he is timely with the info he provides and seems to be a straight shooter. Mr Powell cannot do this alone, he cannot micro manage...it simply won't work in an expanding company. The hall mark of leadership is the ability to delegate responsibility and authority and oversee it all. My thanks to all of you for listening to my points and contentions. I hope, at the very least, there was some thought provoking ideas which may help with some positive changes.
In any situation you always try to put, 'Your best foot forward', so let's hope this would be the case or something close to what you suggest. A higher share price has benefits for all concerned. Everyone on the REDG team would profit in all ways that are fruitful. There many different returns on ROI and not all of them involve finances. Money provides options for expansion, recognition, and provides avenue for growth that are not possible otherwise.
Mr Powell is an idea man-and he has good ones. The toxic financing was not one of those good ideas. Maybe a CFO? A person that understands the numbers of business and the business of numbers, is what is needed.
Now. As far as the advertisers are concerned, I wonder if overseas ones have been sought? Explanations are needed concerning the money we have provided. The WHY of something is very important. Folks will understand and be patient provided they receive information based upon the needs and detailed growth plan of the company. A projected business goal which includes profitability along with timelines gives people solid proof that these goals are being worked towards.
His post was a poke in the eye for the most part. It's outlandish that he makes an analogy concerning the buying of a used car not funding the car company as a comparison to REDG shares given to these rip off debt companies with the express purpose of funding REDG operations. Are we to be expected to believe this?
Is the attitude here to authorize the shares, negotiate the notes, issue the shares.....and then stand back washing your hands like Pontius Pilate stating, "Not me-it wasn't me"!?!?!
Are we to believe this senario? It is bullsh1t in the highest sense and I cannot believe that Mr Campiti actually expects someone to believe that statement. I'm not backing off this.
As far as information being endlessly speculated on...this is the age we live in. For a guy that is in the media, uses twitter, facebook, and other social sites...it is a stretch that he would 'complain' about investors making use of these avenue's to DD a company they are investing their HARD EARNED MONEY in.
I'm sure that Mr Campiti is a hard working guy, and I'm sure he is as frustrated with these types of complaints as we are frustrated with the causes that generate them. He really dropped the ball in his communications with us. Did REDG think that people would sit still as their money was pissed away in questionable financing without explanation?
I refer back to my previous posts. Respect, gratitude, explanation, same team,....c'mon, lets get on the same page.
You are correct. Excuse my error, I hope it does not detract from my post. Thanks for the response.
I was disapointed in Mr Campiti's response (if that what it was) to the buying of REDG stock. If REDG is not selling their own stock-who is? Did I read that tweet the wrong way?
The impression the 2nd tweet implies about investors making a mistake, being back seat drivers, etc....is also not reassuring. While it is absolutely true that the REDG team is working hard to bring this venture to fruition-it is also just as true that all across this country WE are working just as hard, everyday, to scrape up a little money here and there to buy in where and when we can. We are in at different levels with different amounts. We are working folks, college students, professionals and not, investors,and all manner of a cross section of America. We are giving our hard earned money to frontload an idea, a dream that we think one day may make good. I can assure REDG that as hard as they are working to make something of this venture is as hard as we HAVE worked to provide the money for it to be done. To ask for accountability for the financial resources that have been provided by US is not unreasonable.
In order for folks to respect the money that is being provided to them they must respect and understand the people it CAME from. Instead of treating investors like what appears to be 2nd class citizens, maybe, just maybe, we should be treated as if WE ARE ON THE SAME TEAM...because we are. A modicum of thanks and a bit of gratitude are not out of order here. When I and many others have thousands of dollars of our hard earned money involved in this, it is not too much to ask to be provided with timely, truthful, and complete information regarding our financial situation.
As we would not take a mortgage, borrow money,or take loans under the same conditions as these convertible notes...is the same reason that REDG must be a better stewart of the money provided to them to fund operations. If these notes are needed-tell us why. What is the purpose? What will they fund? Why are they needed and for what specific purpose? The conditions of borrowing from these notes are akin to highway robbery...and it is OUR money that is used to repay.
To hear of these notes months after they were negotiated is a slap in the face. It leaves us to wonder when the next round will happen and what is being negotiated presently...or not. A person can ask hard questions without bashing and is allowed to be concerned about the manner in which their hard earned money is being spent. GLTA.
'Campiti's'
Did you see Mr Campetti's tweets? What did you think?
Great post. Keeping to the middle of he road on this board can be tough at times. Thanks for the trading strategy-if only all of us could be as fortunate. To answer your question from the other day- No. I'm done buying. I will bounce what I have should it occur but I'm not buying anymore shares. Hell will freeze over before I sell at a loss but neither will I soak up anymore debt. Done with that.
I will simply stand pat.
He didn't donate one thin dime and admitted it. He's grinding his own axe on this forum for some unknown reason. When he gets some skin in the game then let him kick in and post something worth listening to.
This is hardly the cheerleading forum that you have suggested. If you look at the thread of the narrative there is everything from good DD to serious questions concerning the venture we have undertaken. I do believe that the REDG team is very talented, have a product, an idea, and that it is being pursued.
I take huge exception with the manner in which this idea is being funded. The terms of these notes are simply toxic to growth. Even the perception of them inhibits further investment and puts us on shifting ground. I have addressed these issues and even received the left handed compliment of having these issues adressed by REDG senior staff. What I will not do is spit venom, use vulgarities,etc.
I call for REDG to keep us better informed, and to put the investor relations manager in a more proactive role.
This is OUR money, WE are funding this, and so far we have bought nothing but debt. Let Mr Powell be more transparent, put out more info regarding finances and give us an idea concerning the financial aspects of plans for growth. A realisic map for a potential ROI will bring in greater investment and provide options that are not currently open to us. Bashing? No. Asking serious question? Yes.
Agree with most of that. We will make good. A little time explaining more things in detail would go a long way. We have an investor relations person-have REDG put him to work in a more proactive basis. People would invest in depth if they were provided more information regarding company decisions. I think we are mostly on the same page.
Yes he did-and I am glad it was addressed. Maybe there will be some discussion regarding some of the issues that have been brought up. I can ask for no more than care for our money as they would have for their own. It would be good to know the WHY of a decision and not just then WHEN of that decision. I'm glad it was thought of as a serious enough issue to address.
The fact of the matter is...is that investors DO own a piece of the company that they have invested in-albeit, not much. The basic, 'sit down and shut up', attitude of those who would handle the only funds to date that are supporting this venture is not encouraging. 'Give us your money and don't ask questions' is not a healthy relationship to have with investors that are seeking not only to makes gains themselves but are front loading operations, is not the relationship that is productive in any sense of the word.
I will go back to the philosophy of being a good stewart of money that has been placed in your trust. If it is necessary to do certain things then tell us why this is so. Provide reasons and information that lead to openness and transparency concerning the decision making process. This is not too much to ask. I believe we will make good, but want to know why some decisions are being made.
That was a great post, but I will have to disagree with at least some of it. 'Appease' is a much different word than, 'Inform'. I will simply have to refer back to my earlier posting in that 'WE' (the investors) are funding this venture. Our money has been placed in trust to Mr Powell to fund his ideas and aspirations to build REDG. It is therefor incumbent upon Mr Powell to be a responsible stewart of those funds. These convertible notes are toxic beyond belief and are the reason this has not run. The terms of the notes are nothing short of highway robbery. Would you make such a deal with your own finances? You certainly would not.
Again, and for the umpteenth time, I believe Mr Powell has good ideas and a talented team. I believe we will make good.
However, we have been horribly set back by these notes. Investor trust and confidence has been shaken. Since this is our money and REDG has seen no revenue EXCEPT from us-we should expect regular updates concerning what is important to us....finances.
I'm not there yet. What I believe is that Mr Powell has forgotten, and needs to remember whose money this is. I'm not going to call him all sorts of names, profanities,etc.
I have seen the product-so not a scam. Talent that he surrounds himself with-top notch. They would not have their names smudged, and risk being named in legal actions in some class action suit, just for a few bucks.
What I'm talking about is clarity of purpose and transparency of action. I want Mr Powell to remember whose money this is and who is bankrolling this. I and others want to know who the advertisers are, release dates, about anymore convertible notes, etc.
No more hiding behind lawyers and couched innuendo's about big companies. No more silence. We deserve news. We deserve better.
That's fine. You do with your money as and when you will. I will ask questions, and this is not about some conspiracy theory, this is about clarity. This is our money so it is no crime to ask about it.
Do you remember when and at what time period he said it?
Thanks for the reply coop. I get the existence of old notes coming due-that's part of the package that comes with REDG at this point. My question, again, which I cannot find an answer for is simple. Did he say, 'No more toxic notes-no more funding of this nature', and then sign or agree to notes after making this statement?
We are bankrolling this-it is our money that is being manipulated for REDG to be successful. Most of us are down in a BIG way with further dilution to come. How much? More Notes? Big News? WHEN?
These basic answers are as much a part of our ROI as the money we would make should the PPS spike. REDG should remember that this is NOT their money-it is OUR money-and they have not yet made good on their promises. They have not yet earned a single dime (that we know of), therefor REDG should be mindful of those aspects and be timely and transparent and make extra efforts to do so.
I also recall this being said by Mr Powell but cannot pinpoint a time/date. I am very interested in what Mr Powell will say concerning the authorization of these toxic debt notes. Again, Did he say there would be no more and then sign them anyway....is the main question that needs an answer.
Let nobody forget this is OUR money that is funding this venture. For all intents and purposes WE are the BANK that funds this. Timely news, transparency, regular updates. This is not too much to expect as part of our ROI.
Not the point. The question remains: Did Mr Powell state that there would be no more toxic funding,ie; convertible notes...then authorize more of these notes? When did he state this-what date? Were there notes authorized after this statement was made?
This dilution is why this is not running-plainly put. This is OUR money. We are BANKROLLING this venture. The only revenue that has been realized has been at OUR expense. WE are backing this company with our time, money, efforts,...and I would think that we deserve honest, timely, and detailed information.
Since there has been no revenue realized except from,'We the Investors' the executives at REDG would do well to heed our concerns and questions. If I seem a little upset tonite it's only because I AM a little upset tonite. News Please. Info Please.
At what point in time did Mr Powell publicly state there would be no more toxic funding or convertible notes? Did he enter into this type of funding after he stated this?
A great find to be sure-but what would be more enticing is OUR comics being made into movies. There is an audience and market for comic movies...nobody doubts that fact. What there needs to be is an audience and a market for REDG ideas, comics, and story lines.