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huge news? let me guess, another 50M new shares for an app nobody has ever heard about. Maybe 100M this time, maybe 1B new shares who knows? and if MGT will soon have about 100B shares outstanding, and is still generating NO revenue, don't worry about it, financial DD is sooo last year, sure this thing can go right to a 20B market cap on air alone.
Has McAfee gotten his 600K bonus already? Should hit his bank account one of these days..
which analyst has a target of $ 130? you keep posting that useless website, but no analyst has a PT of 130, trust me. every analyst knows this is a scam.
you said there was going to be news every single day for two weeks. and the news was actually BAD NEWS. i mean sorry, but should i say thank you now?
yeah, maybe they'll buy another app with 100 users in exchange for 25 million shares. it's so scary being a short with 25 million new shares popping up every week :)
i think people know very well how big this is. Zero revenue, that's how big. How do you monetize this? You can't.
Based on what?
a company is not growing when its revenue was zero, is zero and will remain zero.
no it's not. they have no revenue, and issue millions and millions of shares for stuff that also generates no revenue.
soon you will have a company that's a wet dream of every anti-spy nut, but with zero revenue and zero profit (and no hope of ever generating something; everybody knows you can't start charging massive amounts for otherwise free tech). these guys don't care about monetization, they care about their privacy. that's not how wall street works.
HOW? how is this technology, currently free, worth over 50M dollars?
by the time McAfee is done buying this thing will have over a billion shares outstanding..
great. they pay another 20M shares (!!!) for a technology that's available on the internet for FREE.
share count goes to what now? 65M 70M???? you can't make this stuff up.
i agree with your analysis, except the fact you say this may actually work out..
they have no cash to make anything work. they have a CEO that's a loose cannon. they buy apps by issuing new shares that are not revenue (let alone profit)-accretive in any way.
i mean, a privacy nut might download an anti-spy pro-privacy app for free, 99.9% of the population won't even bother WHEN IT'S FREE. How is this thing ever going to work out, there's just no way.
the weak hands are obviously the ones who are still long. this stock, fundamentally worth a few pennies, made a jump from 0.30 to over 5$ and you still didn't take profits? sorry, but you're the weak hand here, not the people that cut their losses the last couple of days.
not just ihubbers, lots of people like you on twitter, stocktwits, yahoo message boards. and if all of you come out buying, you get frontrun by the algo's, who are the first on the way up and the first on the way down. now all that's left is you bagholders who are waiting for the "big money" to come in. big money doesn't invest in hyped up junk like this.
Big money was never in this thing. Big money doesn't buy a company with a >100 M market cap, with 2 M cash and no revenue.
they have no assets (no ships), no cash and millions and millions of debt. their note-holders can call default any day, forcing PRGN into BK. the only reason they don't is because the company has NO assets. the correct value per share is ZERO. short term this thing will drop and bounce, but in the end it's just as worthless as SUNEQ and all those others
yes, he wants you to be patient so he gets his 600K bonus while you are all waiting.
all that talk about possible deals: they have no cash they even pay for them. who does get cash today is John McAfee himself: the stock has been over >2 for 10 days, so he gets his 600K pump bonus.
of course there is no AMEX news
apart from the fact what you're saying is simply not true, shorts are not your problem here. the fact a company worth 2M is trading with a 130M market cap, that's the real problem.
without hype this is thing is 10 cents. and the hype is fading.
who cares about a name change? when did that EVER boost a share price? if investing was so easy, companies would change name every day.
maybe in your dreams. No cash, a lunatic for CEO, an app that can be created by a ten year old. how did you think this would end?
lol. yeah, except the drug dealer is dealing drugs worth 99 cents.
wow, that's a truly convincing argument. 2M in cash, soon to be zero M in cash, and still a 150M market cap. those are facts. and you're holding, yes, at an ever lower pps.
any news will be bad news. the company has 2M in cash, of which part will be paid out in bonuses to McAfee for pumping the share price. It can't acquire if it has no money (except ofcourse it wants to issue another 20M shares for another worthless app, I'm sure shareholders will love that)...
"lots being accumulated"?? sure, that's why the share price dropped 10%. and this is just the beginning.
mgt is also pretty much cash free, how about that. cash is about $0.05 a share, nothing to brag about imo.
sorry, but that's simply not correct. The warrants exercise at 30 cents, not 2 dollar. If you check the 10-Q out today you'll see almost all the warrants were exercised, converted into shares and consequently dumped.
the incentive was meant for significant shareholders like Honig, Brauser, Silverman to have time to sell. they walk away with millions, McAfee walks away with 600K, a win-win.
i doubt if that net worth is still accurate but suppose it is, then 600K is obviously a big deal.
you're right, it's not uncommon to give management incentives, but they are supposed to be long term to build shareholder value. not: make sure the share price stays over x for y days (so the shareholders can do a dump), and earn yourself a bonus.
it has everything to do with John McAfee. He gets a 250K bonus when the stock price stays over $1, and 600K if the price stays over $2. I've just posted the evidence, that's why he tells you on twitter you should invest (which sounds like a breach of SEC regulations btw)
do you think an SEC-filing is BS?
Let me quote:
"Value Bonuses . If, during the first twelve (12) months of the initial Term of this Agreement, the volume weighted average price (“VWAP”) of the Company’s common stock is equal to or greater than $1.00 for each of ten (10) consecutive trading days on the NYSE MKT exchange, then Consultant shall be entitled to receive a cash bonus in the amount of $250,000 to paid within thirty (30) days of such triggering event. If, during the first twelve (12) months of the initial Term of this Agreement, the VWAP of the Company’s common stock is equal to or greater than $2.00 for each of ten (10) consecutive trading days on the NYSE MKT exchange, then Consultant shall be entitled to receive an additional cash bonus in the amount of $350,000 to paid within thirty (30) days of such triggering event."
do you believe now?
did you know McAfee gets a bonus of a few 100 K if MGT share price stays over 2.00 $ for 10 days. that's quite a lot of money for someone who's net worth is a million max. ofcourse he says he's in it for the long haul, he wants his bonus!
EveryKey has absolutely nothing to do with MGT. They ONLY own D-Vasive, an app any half-decent coder yould create. McAfee sold his virus platform way too early, and never showed a whole lote of business acumen ever since. What he did show was a habit for drugs, lies and controversy. Him being CEO adds nothing to the party except a lot of hype to retail investors.
for the x thousandth time: the data you linked doesn't refer to short sales. short volume are transactions initiated by a seller in general (who might be long beforehand). the data has absolutely nothing to do with short selling. every stock has a appr. 50/50-ratio.
MGT owns 1 app. Anything that's in Future Tense will need to be bought. If you think what's in there represents value, it isn't owned by MGT in any way. MGT paid 4 million for an app a four year old could make, with no revenues, and very little users. how much do you think they're gonna pay for the other Future Tense-stuff? and why do you think any of this will ever generate a profit?
if i design an app for you, will you pay me 4 million just like that? because that's what MGT did.
true. but what earnings potential? the earnings potential of ONE free app anybody with a bit of coding background could create? the potential of a 70 year old mental patient? a 150M market cap, that's not a Silicon Valley start up, that should be backed by tens of millions in earnings potential. MGT doesn't have any of that.
no no the sellers were institutional. look at the 10-Q. 5 million warrants were converted into shares at 30 cents a share. those warrants were only eligible for conversion if the large holders first sold their stakes. guess what, they did. they have dumped, because they know this thing is 900% overvalued.
they all made millions on the back of this hype.
sorry, but institutions don't buy a company with a 150M market cap and 2M in assets.
no revenues, 2M in cash and a fully diluted 158M market cap. hahaha, sounds like a bargain.
yes. he might be able to do a placing at a steep discount, so the new financiers can dump their shares in the market. you're right, that's definitely a possibility.
no he didn't. he didn't bring in any cash, and no backing.