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sorry but I gotta say it-MOVE ALREADY,LOL.
Gotta tell ya Phil-there is something about kurt Busch I don't like.
Thanks Phil.
Mornin skeballlarry!!
Phil-I'll go with 48 20 26 07-Thanks and Good Luck to all.
Thanks AmbitiousDrive- I'm home now and happy as hell! I will be more able to post more often-sometimes I just don't have the energy tho.
Thanks for that virginian-much appreciated.
I've not been around much- but I sure like to see this move out .0001 BS. Anyone Really think it will?
Heya Phil and All!!! We finally got home last night!!!! I'm so dam happy - Cheers All!!!
my picks are doing a great job of being taken out.
lets go racing already!!preshow seems to be pretty long-must be because it's Daytona.......but still, lets go racin!!
Thanks Lacy-yeah aroad trip would be a blast-I'm still doin my best to stick around.
Thanks cbfromli.
Thanks skeballlarry.
Thanks for that AUdad.
It's been a blast Phil and All-the prayers are more appreciated than you may ever know. keeping the hope and faith.
Thanks Phil.
Thanks Sue....I'm more worried for wy wife than me.
Thanks Josh.will do.
Phil-my Picks: 20 24 8 12 Thanks - Good Luck to All!!
Happy 4th of July to All-be safe.
Thanks Again Kid-talk to ya later my friend.
hey kid-just finished chemo-recovering now-be about 2-3 full recovery-had complications-things are OK tho-thanks for asking.
take care kid-I'll be around once in a while.
Thanks for that.
so was it a QUALITY well thoughtout and put together commercial?
no pr in almost 1 1/2 MONTHS?ouch-and some are STILL HOPING for something good to come of this?....I lost on that hand of cards.
bunch of frickkin morons.
LOL-ME TOO!
running what i brung today-Realy appreciate the thought tho-Thanks!
crap-didn't think i had time-figured i'd just go with last weeeks,LOL. not a problem. losin track of days being in the hospital.
Thanks anyway bud!
thanks-.
did the race start?
Mimurray-how's all goin bud?
COT RACING reminds me 0f IROC Racing -I've just never been a big fan of IROC races.
make everything the same and equal?...wtf....that ain't no fun.
sorry....drugs speaking again,LOL-I 'll stop while I'm almost ahead,LOL.
hope it's not serious and he has a speedy recovery!
They canm not hold OR Sell more than 9.9% right? if they sold more than 9.9% then they would have held more than 9.9% making them a 10%owner -which apparently they do not want.
and I beleive you are right the cash will run out, but I don't believe it matters when it runs out, what matters is that JF will need to get more shares Authorized to cover the note(s)
I apologize if I am incorrect.
Bill- 3 months old,many people don't read enough into them to understand what's going on; and it will change what some think when and if the Authorized goes up to 90,000,000,000 Billion Shares to convert the conversion in November of this year.
Granted Golden Gate said they would not sell more than 9.90% at any given time to keep under the threshold of being a 10% owner.
but we are still talking BIG TIME Dilution-those that cannot understand that, may have some problems.
and it really is a shame, as the business concept is a great one-just mismanaged to the highest level.
oopps: On January 17, 2006, the Company entered into an amendment to the
Securities Purchase Agreement with Golden Gate in which the debenture
was increased to $300,000 and an additional warrant to purchase
15,000,000 shares of common stock was issued (also exercisable at
$1.09 per share).
not the $159,659 mentioned in my other post.
and then there is this tidbit of info for reading:
Investing Activities.
Net cash used in investing activities was $6,138,661 for the year
ended December 31, 2006 compared with $1,470,021 for the year ended
December 31, 2005, an increase of $4,668,640 or approximately 318%.
This increase resulted from increased investments of cash for the
Company as a result of the funds provided by Golden Gate Investors,
Inc. as a result of the Addendum to Convertible Debenture and Warrant
to Purchase Common Stock, between that firm and the Company (discussed below).
Liquidity and Capital Resources.
As of December 31, 2006, the Company had total current assets of
$2,026,317 and total current liabilities of $859,163, resulting in a
working capital surplus of $1,167,154. The cash balance as of
December 31, 2006 totalled $342,634. The cash flow from financing
activities for the year ended December 31, 2006 resulted in a surplus
of $9,073,073. Overall, cash and cash equivalents for the year ended
December 31, 2006 decreased by $5,559,760.?
The net cash provided by financing activities was $9,073,073 for
the twelve months ended December 31, 2006 from the; (a) advances from
Golden Gate Investors, Inc., and (b) proceeds from stock issuances
under the financing arrangement with Golden Gate, as discussed below.
The Company's current cash and cash equivalents balance will be
sufficient to fund its operations for the next twelve months. The
Company currently has approximately $1,000,000 in stock subscriptions
receivable that it believes will be collected in the next six months.
The Company's continued operations, as well as the full
implementation of its business plan (including allocating resources to
increase library content, distribution infrastructure and technology)
will depend upon its ability to raise additional funds through bank
borrowings and equity or debt financing. In connection with this need
for funding, the Company entered into a financing arrangement with
Golden Gate: A Securities Purchase Agreement with Golden Gate on
November 11, 2004 for the sale of (i) $150,000 in convertible
debenture and (ii) a warrant to buy 15,000,000 shares of common stock.
The debenture bears interest at 4 3/4%, matures three years from
the date of issuance, and is convertible into Company common stock, at
Golden Gate's option. The debenture is convertible into the number of
shares of common stock equal to the principal amount of the debenture
being converted multiplied by 110, less the product of the conversion
price multiplied by 100 times the dollar amount of the debenture. The
conversion price for the convertible debenture is the lesser of (i)
$0.20, (ii) 82% of the average of the three lowest volume weighted
average prices during the twenty trading days prior to the conversion,
or (iii) 82% of the volume weighted average price on the trading day
prior to the conversion. Accordingly, there is in fact no limit on
the number of shares into which the debenture may be converted.
However, in the event that the market price of the Company's common
stock is less than $0.015, the Company will have the option to prepay
the debenture at 150% rather than having the debenture converted. If
the Company elects to prepay the debenture, Golden Gate may withdraw
its conversion notice. In addition, Golden Gate is obligated to
exercise the warrant concurrently with the submission of a conversion notice.
The warrant is exercisable into 15,000,000 shares of common stock
at an exercise price of $1.09 per share. As of the end of December 31,
2005, a total of 6,797,000 shares were issued related to the warrant
providing the Company approximately $7,400,000.
Golden Gate has contractually agreed to restrict its ability to
convert the debentures and/or exercise its warrants and receive shares
of the Company's common stock such that the number of shares of common
stock held by its and its affiliates after such conversion or exercise
does not exceed 9.99% of the then issued and outstanding shares of
common stock.
The Company filed another registration statement under Form SB-2
during the first quarter of 2006 related to an amendment of the
Securities Purchase Agreement with Golden Gate in which the debenture
was increased to $300,000 and an additional warrant for 15,000,000
shares of common stock was issued (also exercisable at $1.09 per share
into 20,339,100 shares of common stock, providing future funding of
approximately $16,350,000). In connection with the increased
debenture, $150,000 was disbursed to the Company in January 2006. At
December 31, 2006, a total of 6,500,000 shares were issued related to
this new warrant, providing the Company approximately $7,100,000.
Whereas the Company has been successful in the past in raising
capital, no assurance can be given that these sources of financing
will continue to be available to it and/or that demand for equity/debt
instruments will be sufficient to meet its capital needs, or that
financing will be available on terms favorable to the Company. The
financial statements do not include any adjustments relating to the
recoverability and classification of liabilities that might be
necessary should the Company be unable to continue as a going concern.
If funding is insufficient at any time in the future, the Company
may not be able to take advantage of business opportunities or respond
to competitive pressures, or may be required to reduce the scope of
planned product development and marketing efforts, any of which could
have a negative impact on business and operating results. In
addition, insufficient funding may have a material adverse effect on
the Company's financial condition, which could require it to:
- curtail operations significantly;
- sell significant assets;
- seek arrangements with strategic partners or other parties that
may require the Company to relinquish significant rights to
products, technologies or markets; or
- explore other strategic alternatives including a merger or sale of
the Company.
To the extent that the Company raises additional capital through
the sale of equity or convertible debt securities, the issuance of
such securities may result in dilution to existing stockholders. If
additional funds are raised through the issuance of debt securities,
these securities may have rights, preferences and privileges senior to
holders of common stock and the terms of such debt could impose
restrictions on the Company's operations. Regardless of whether cash
assets prove to be inadequate to meet the Company's operational needs,
the Company may seek to compensate providers of services by issuance
of stock in lieu of cash, which may also result in dilution to
existing stockholders.
just reviewing John's activities.
let me get this straight: buy in at 6,sell at six; buy in at 5,sell at 5; buy in at 4,sell at 4? interesting concept-but beyond my comprehension at where you make money in that situation.
must just be me-oh well,LOL.
LOL-I'd take a road trip with ya anytime phil,LOL.I can see it now, it would be a hell of an adventure.
Nite Phil and ALL!