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This is the $FONU board to discuss FONU2. If you want to discuss Medient/MoonRiver, go here to rant: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=109051609
It should be, gator11 but perhaps they will hold out for the annual report to supply such which wouldn't be considered late. But for good form, I'd like to see a 9,01 to an 8-K/A so we can all see what we have.
I have a good feeling about what's coming on $FONU-land but if I change my mind, you'll know.
Debt free, new subsidiary, potential $50MM in financing as PR'd earlier in the year-->>> lots to be excited about!
Have a good weekend, my friend!
Your calculation is correct but you must use % the O/S, not the A/S. It is ok that he has majority voting right here on $FONU. I have a call into him so I will find out more next week.
We need more information...I can promise you though that I can tell quickly if this is a no go or not. I would not steer y'all in the wrong direction. But for now, we can only DD the information available to us and can continue as more info becomes available to us.
Stay tuned!
joborders, my friend--long time. To clarify my position on $DCLT, I do not think this company is crap. It would have been much better off without the known promoters that pumped the stock recently and brought negative exposure to it.
In fairness to $DCLT shareholders, I'd like to see this issuer report customer segmentation since they have paying customers. This breakdown is important to assess risk concentration, if any, in their paying customer base.
I'd also like to have some guidance from management in re of how they plan to address their GSA structure as for every dollar in revenues they produce, the same $$ goes to GSA costs. The concern I'd have in this area is whether any increase in revenues would be offset by additional overhead (new hires).
Switching costs -- $DCLT could potentially increase revenues by gaining market share (take business from competitors). How easy is it to switch over and what are the switching costs associated with doing so?
Competitive advantage -- why should a new customer opt to go with $DCLT vs a better established player in the market?
And this PR here from November 2014:
http://www.datacalltech.com/data-call-technologies-launches-new-product-and-reports-exceptional-financial-results-for-the-third-quarter-of-2014/
I see that $DCLT has a "relationship" with Associated Press but does this mean that AP is a paying customer or will become one in the future? Or is this relationship with AP strictly a "freemium" angle?
If $DCLT is able to increase its revenues by just a mere $1MM per year, it could warrant a much higher trading price but it has not been able to achieve revenue levels or manages costs to turn net profits--it only needs a little.
Maybe another review during the 1st quarter might change my mind.
GL to all,
BB
Shapiro having 2.5MM Preferred stock converting at 10c comes out to 25MM shares common stock because you have to take the aggregate of stated value which is $2.5 million or $1 per share / 10c, right? Many own more stock than him. His conversion price would be considered equitable or even "cheap" if the O/S were to reduce or revenues would increase considerably. I'd say the O/S reduces here first...just my instinct telling me this.
As for him having 67% voting right, this is probably being conferred to him for the assets he is depositing into the holding company which represents the majority of the assets of FONU which his company is a subsidiary so I think it is fair that he gets to have a say so on what Garcia opts to do to protect the assets of the LLC he's brought in. He gets to vote but this in no way means he owns 67% of $FONU which peeps have the tendency to confuse.
Nicole is not getting $10,000. That is an option given to her to stay or leave. Please read page 14 of the agreement again for clarification. Those who were concerned that Shapiro can just fire people like Garcia and/or Nicole should be reminded that an officer of a corporation can be removed only with majority vote of the board. This is Garcia, Shapiro and Nicole for now. 2/3, OK?
Have a great Saturday, all
definitely time to start tapping $PLKD. I didn't think Rico would b.s. about the A/S reduction or the Apple Juice roll-out -->> this product is available on Amazon for shipping next week. And whatever mega million news is coming on the 24th must also be true because obviously Rico knows with certainty that he can make the announcement on the 24th. He's sitting on some big news, IMHO.
Very interesting.
So what? Why is this significant? Studioplex City, LLC was formed before the USPTO gave approval of the TM. Are you suggesting that the LLC cannot bear the name "Studioplex City, LLC" because of a simple TM? Nonsense.
Who is the majority owner of Medient Studios anyways? It might be a good time to take another look at the designation for preferred stock here.
I like it that we gained 2.5 million in shareholder equity.
I like it that Studioplex has 2 signed deals with Penny Marshall because of her reputation and how well her films do.
I do not know what Studioplex's books look like. It's a private LLC with a net valuation given at $2.5 million. This could be a net valuation after subtracting liabilities from assets. I would like to know what debt the LLC has, when the debt matures, if they are secured...etc. Based on Studioplex's valuation and FONU cleaning up its balance sheet as of December 4th, FONU is now well positioned to obtain financing, no doubt. But that we have a private LLC that could have debt, the debt could settle at the holding level with FONU's equity (common stock) hence it is important to know these details and they must be furnished. FONU's annual report is due at the end of December, and most likely will file the first week of January 2015 at which time we should see a consolidated financial statement. Without seeing the numbers, it is difficult to make a determination--isn't it?
Now it is quite possible that Shapiro is bringing over all assets of Medient/MoonRiver into Studioplex to spin out Studioplex as a public company. If this were the case, all assets of Medient/MoonRiver should now be free of lien (debt) so this could bode well for FONU shareholders should Studioplex be spun out. Another scenario, Studioplex gains just the Effingham lease and brings it over here which would be most ideal because I personally do not want MoonRiver assets deposited other than the land lease which can be developed in phases.
Shapiro was a significant noteholder in Medient and to my knowledge he converted which means he should have plenty of cash. That cash he has can be used to do a share buyback of $FONU and reduce the O/S which would justify his conversion price of 10c per share.
Many, many possibilities but at this time only speculation.
$2,500,000 gain to $FONU shareholder equity
I am waiting to review Studioplex's financials to confirm this but with this acquisition and elimination of debt, we have effectively gained $2,5 million in shareholder equity plus additional increase in equity from issuance of shares to settle all notes. I will run numbers later but for now, we can simply add $2.5 million.
Here is the breakdown of charges for issuance of 2.5 million shares preferred A series:
$25,000 to equity preferred A
$2,475,000 to additional paid in capital
par value of preferred A series: 0,01
stated value: $1.00 per share
I expect to see these numbers to confirm that we have gained $2.5 million in assets and shareholder equity.
I don't have PM, sorry but I will answer your question on the open forum. We need a corporate update from Garcia regarding the acquisition of Studioplex City, the disposition of their debt (confirm they are indeed debt free) and as good form, I expect Garcia to furnish Studioplex City's financials so I can review the $2.5 million valuation--is Shapiro bringing cash, film assets, contracts with Penny Marshall, etc. Until I see these, it is difficult to make a determination other than what I have reviewed on the debt side which I'm 100% certain about (that FONU is debt free now). Being debt free with 600MM in O/S is really excellent, better than being a revenue generating company with millions of toxic debt!
We should expect an update next week.
$FONU as of the last quarter reported the follow liabilities:
Notes payable - $19,000
Convertible notes payable - $150,118
When the company modeled/evaluated their convertible debt, they projected that they will need to create reserves to account for accretion costs associated with shares issued at a discount to par value of 0,001 and this is why derivative liability of $515,101 were booked. Every time conversion happens and shares are issued below the par value of common stock, discount expenses(accretion cost) have to be booked on the Profit and Loss side and the corresponding adjustment is to derivative liability on the balance sheet. In other words, they reflect additional shares that would be needed to settle all convertible notes--if market price drops, lenders would get more shares to equate to $$ amount of notes.
In the first example below, this note would have settled at ~61 million shares had the market price been ~0,0018 but that the market price was close to 0,0005 at the time of conversion, lenders received ~266MM shares instead. This means that 266MM shares x 0,00077 is the charge to the books which were ALL ACCOUNTED FOR in the last quarter and no more expenses will be incurred on these notes.
Accordingly, the final settlement to clean up the books was issuance of the following:
An aggregate of 266,695,701 shares were issued upon conversion of Notes in the aggregate amount of $61,060 at an average conversion price of $0.00023 per share. The convertible debt was purchased by non-affiliated third parties who effected the foregoing conversions.
An aggregate of 55,800,000 shares were issued upon conversion of Notes in the aggregate amount of $16,800 at an average conversion price of $0.00030 per share. The convertible debt was purchased by non-affiliated third parties who effected the foregoing conversions.
An aggregate of 243,529,413 shares were issued upon conversion of Notes in the aggregate amount of $65,500 at an average conversion price of $0.00027 per share. The convertible debt was purchased by non-affiliated third parties who effected the foregoing conversions.
Since shares have all been issued, what would happen is all the debt (convertible, note payable and derivative liability) would be charged in one part to equity and the another part to additional paid in capital. This is how you write down debt in the balance sheet.
This effectively settles all debt. It should also be noted that noteholders are not selling below 0,0003 per share and this is why we have not been able to get loaded at 0,0003 the past weeks. I believe we have seen the last of the t-trades associated with the above, if not we're pretty darn close.
There should be an announcement from the Company shortly confirming this as I am 100% certain all debt have been settled.
The "comic book store" Zaldiva.com is still intact according to the Purchase Agreement (refer to page 14) and remain part of the FONU2 business. Management, Nicole Leigh, is also director and corporate secretary of FONU2 so Garcia is not the sole director of FONU.
http://www.sec.gov/Archives/edgar/data/1168325/000101489714000521/exhibit101.htm
Notes to 8-K: Acquisition of Studioplex City, LLC, a wholly owned subsidiary of $FONU
First of all, it is important to understand that this is an acquisition made by $FONU and not a reverse merger with Studioplex City, LLC. As mentioned previously, FONU has effectively become a holding company by virtue of this acquisition. The CEO of FONU remains to be Garcia and the business of FONU2 continues.
Key items:
This 8-K here confirms that $FONU is now debt free. Notice the filename:
f8kfinalclean12814.htm
http://www.sec.gov/Archives/edgar/data/1168325/000101041214000204/f8kfinalclean12814.htm
$ECIG on watch.
Correct and his network and access to big names in the entertainment biz should not be ignored. Every issuer needs big financing to make their biz plan work. I have a sneaking suspicion financing news is coming the week after next week. Next week, we will get an update about the terms of acquisition. Then, we will also learn which A-list star will be in Penny Marshall's new film.
$FONU -- don't get shook out of your shares. Hold them tight, big news is coming here!
Notice when asked to outline exactly and how Shapiro ruined any company, no one can answer, LOL. Still waiting for an answer from the so called "experts" who lost their $$ by not listening or paying attention to my DD.
$FONU -- now that it has started to make acquisitions, I'm wondering if the $50MM in financing commitment announced earlier in the year will become available. It would be nice to get that and for $FONU to make more acquisitions for Fonu2.
Either way, updates are coming next week.
That is correct, powerbattles. To this date, not a single person has been able to succinctly explain what exactly Shapiro did to destroy Medient as they claim. Not a single person--I've been following that stock for over 10 months. Too funny. $FONU -- good things on the horizon.
Why don't you point out exactly what Shapiro or any of the ex directors of Medient did wrong? Outline them for discussion instead of dropping tickers to bash. The fact of the matter is, none of you can do it because there are no violations on Shapiro. FACT. Nice try.
LMAO--had you all listened to me, you wouldn't be MDNT bagholders now bashing Shapiro on $FONU. FACT.
Shapiro and Koppelman's position as director were never officially filed with NV and Medient's filings with the SEC are questionable and cannot be relied upon. Mellon was said to be on the board as well but was also never on the annual list with NV.
I was the one that pointed out the questionable practices of Medient before it got suspended and Manu Kumaran was slapped with the Wells Notice in May of this year. When the notice came in from the SEC, MDNT was going to get suspended anyways so your statement about the issuer getting suspended after Shapiro taking seat as CEO is also incorrect. And no, I did not get screwed, made a ton of $$ there but the signs were there when they failed to report stock issuance to noteholders which is a clear violation and the fact that Kumaran never itemized the debt as convertible in nature. Everything that went south on Medient went south because of the way the merger was set up and improper/false disclosures about Kumaran Holding's asset/debt structure. This had nothing to do with Shapiro so I'm afraid you're very wrong on your DD about Medient and Shapiro.
The "board" came on board and were compensated with shares so that is "doing business" whether you like it or not. Who brought Koppelman and Mellon to the board anyways? It was Shapiro so he has connections and access to capital. Are you suggesting that Koppelman and Mellon were knowingly involved in a scam that is Medient and Penny Marshall is also about to be complicit in another scam?
The corporation itself never called him that.
Shapiro was NEVER president and head of corporate finance of Medient, EVER. None has ever been documented with the State or with the SEC. FACT. Get your facts straight. I have had numerous phone conversations with both Shapiro and Kumaran and can tell you Shapiro was merely a consultant. FACT.
LOL, you made $$ trading Medient and know a little about that issuer so maybe you can spell out the facts and explain exactly what official position Shapiro had with Medient/MoonRiver prior to his appointment as CEO by the BOD. Where does it state in the issuer's filings that Shapiro had a position before his official appointment? Proof please. Are you sure it was Shapiro that ran down Medient/Moon River? I don't think so. Shapiro didn't affix his signature on one SEC filing until Kumaran was fired by the board. So explain exactly what Shapiro did wrong with Medient/Moon River and how he managed to get 2 deals with Penny Marshall--and why big names like Marshall, Koppelman and Mellon do business with him.
Would really love to hear back in re of this from you or even MDNT bagholders.
$FONU.
No he was not. Shapiro did not hold any official position EVER at Medient or Moon River until the board of directors (Koppelman et al) appointed him CEO after firing Manu Kumaran. Shapiro was a consultant for Medient hired to bring in financing to bridge operations costs--it was Shapiro who secured $700K of financing from TCA to help Manu cover operations costs. The problem with Medient was that it lied about its legacy debt structure (Kumaran Holdings) and never disclosed properly the numerous sale of unregistered security. It was discovered after the SEC suspension that Shapiro was a noteholder to Medient. The onus falls on Kumaran who was CEO and CFO all throughout. Let's get facts straight here and stop spreading baseless lies about $FONU or Shapiro's involvement with MDNT. Kumaran is 100% responsible for the demise of Medient/Moon River.
Shapiro has enormous reach in the entertainment business. Koppelman, Mellon, the ex mayor of NY are all part of Shapiro's network. What are all these big names doing being associated with Shap? When people are successful, they have plenty of haters and "short" publicists out to paint the doom and gloom.
Wassup, DTGoody!!! Good seeing you here! You know a good bargain when you see it. $FONU going multi-pennies, indeed! This one is about to become one of the best OTC story stocks to watch and play!
Buying a popcorn machine for this one!
GO $FONU!!!!
We should be getting the terms of the acquisition no later than next Tuesday and potentially before that. More PR and updates to come here, folks. Tune out the noise!
$FONU
LOLsss. Penny Marshall signed on for 2 deals with Studioplex City, LLC which is now owned by $FONU and peeps are still bashing Shap. Shap has tremendous reach in the entertainment sector and access to capital. He brought in Koppelman and Mellon (ya know the Bank of Mellon?) to Medient before Manu fked it up with his poorly judged Tweets. Stick around peeps and try not to flip for a tick or two this time, geesh.
Let's go! $FONU!!!
Monday.So y'all have tomorrow to load these cheapies.
Nice job, FONU crew! Get ready for mega news!
Just watch and learn. $FONU. This is it! Take these 4ssss out!
These 5 and 6 sellers will regret! MEGA UPDATE COMING TO $FONU NEXT MONDAY!
$FONU is totally debt free. Shares converted during FONU's 4th quarter and # of shares converted completely take care of all debt and derivatives that were previously booked in the last Qtrly report. Let's keep things real and factual.
There will be no more notes for this issuer to convert, the books are completely clean.
Probably next Monday, there will be an update. $FONU
No. TCA and legacy (Manu's peeps) destroyed and diluted the heck out of MDNT. The assets that were allegedly deposited into MDNT from Kumaran Holdings were supposed to be free of liens but weren't. It was this type of improper disclosure that caused MDNT (possibly Manu Kumaran) to get served with the Wells Notice in May of this year. Fonu2 is toxic debt free--all the debt disclosed in their filings have been fully converted.
Now, I don't know what kind of control Manu and Shap have over the assets of MDNT but since they are held under an issuer trading on the greysheet, it could make sense for Shap to deposit them into FONU. What MDNT shareholders would get for this possible exchange is anyone's guess but I do see this as a possibility.
$FONU acquires Studioplex City -- all over market wires
Two executed picture deal with Penny Marshall @ 100MM gross each = $200MM potential revenues from picture deals?
=======================================================================
Studioplex City LLC is a Georgia based film production company. An executed two picture deal with legendary motion picture director Ms. Penny Marshall are among Studioplex City's projects.
Ms. Penny Marshall is an accomplished, award winning television and film actress, producer, and director. Her first film as a Director was Jumpin' Jack Flash (1986) starring Whoopi Goldberg. Ms. Marshall has directed a number of successful feature films, including Big (1988), starring Tom Hanks (the first film directed by a female director to gross over $100 million), Awakenings (1990), starring Robin Williams and Robert De Niro, which was nominated for a Best Picture Academy Award in 1991, A League of Their Own (1992), starring Geena Davis, Tom Hanks, Madonna and Rosie O'Donnell, which also grossed over $100 million, The Preacher's Wife (1996) starring Denzel Washington and Whitney Houston and Riding in Cars With Boys (2001) starring Drew Barrymore.
Roger Miguel, Chief Executive Officer of FONU2, commented, "We are very excited to welcome Studioplex City to the FONU2 family. This acquisition is a major accomplishment for FONU2 and its shareholders. With a number of Ms. Marshall's films grossing in excess of $100 million, this represents a tremendous opportunity for us to work with one of America's top directors. FONU's proprietary social media platform will be instrumental in the marketing of the Company's film projects."