Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
where was it announced the mm5 is i-pod ready?
that was good!
when you say moved over, you mean across the hall?
it is nothing more than a hype sheet. there is no value in it for investors, the numbers are misleading and false, in fact, scmi issued projections far lower a couple of months later. either the company put it out through a third party, or someone with a ton of shares put it out as a pump sheet to unload. if you remember, it did nothing for share price.
does it matter? the report is months old, and clearly does not deal in reality.
killing the shorts? i guess the shorts have attacked mmxt as well as scmi, since both are now in the toilet. nothing like another 90 million new shares issued, and false PR's about dividend shares to make a stock drop like a hot knife. who was it here that was insisting a share buyback and move to the amex were right around the corner?
oops, sorry about that.
greg?
does it make any sense that they are issuing more scmi shares, only to have to cover them with more mmxt shares with the merger? scmi now holds over 70 million mmxt shares, around 5 million in dollar amounts, and the revenues now coming in. they also hold a ton of dstage, another dividend that went south.
if they are merging in 3 months on a 1/1 basis, how are they not going to have to raise the outstanding?
70 million mmxt shares makes for a fairly sizable war chest. i have received proxies from both mmxt and scmi. i have seen nothing about raising the outstanding of mmxt. it would make no sense to retire mmxt shares, and re issue them to scmi holders again, it also makes no sense to issue the stock that is the lower in share price if they are going to use these shares to fund the company. in fact, if the 2 are going to be the same company, why would they issue 90 million scmi shares when mmxt has a 25% premium in share price, and they are going to have to issue the mmxt shares to cover them in the next 3 or so months?
YOU WORK FOR THE COMPANY ! you received your proxy today? at what point did you make the boss aware that even you did not recieve the proxy?
the vote is invalid, in any state. the proof is right here on this board. very few recieved their proxy, by mistake, or purposely. some got it the day of the meeting, or the day before. again, who would have voted to lose the dividend and issue another 90 million shares of scmi? they have really taken shareholder rights and corporate responsibility to an all time low. the proxies, and the vote, are a sham. what is needed here is a vote by shareholders for someone other than those involved with both mmxt and scmi to look after scmi shareholders interests. from the looks of things, and from what i have heard from those who went to the shareholders meeting, it would seem that peter had to be reminded by a shareholder that scmi should at least be included in the mmxt press releases.
certainly he could!
judging todays action, i think a lot of people got it.
clearly, they did not have the vote in the bag. that is pretty much spelled out in the qtig dividend dispersal. the 19 million+ of the 24 million shares were given to the DTC. close to 75%. i doubt that many would have voted to give up the dividend and issue another 90 million shares of scmi. mmxt owes scmi a ton, we have been offered nothing. the cost of this merger for scmi holders is 160 million shares, 70 million mmxt shares, and 90 million shares of scmi. mmxt has not issued any new shares. is it any wonder we are where we are?
that was good, doggie!
what does that mean?
eagle, if he was not wary a couple of months back, i would say the loss of the dividend that the company was telling shareholders they would get for buying this stock several months ago should have everybody on their toes, and sceptical about what they read in company press releases.
the news about ford ? it was implied that ford was buying stock in mmxt, or scmi. as it turns out, the news was that mediamax works on ford stereos. the news about howard stern? again it was implied that stern was taking a major position, the news was that stern would run commercials on his morning show. i have seen nothing from the company stating that ford,GE, or howard stern, have purchased any stock in these companies. just hype.
gap, as a rule, anything major can not be discussed at the shareholders meeting unless it is already public. if they release news the day before, no problem, but anything new has to be public record before they can chat about it. i have been to a couple of shareholders meetings, maybe this one is different, but it usually amounts to where the company thinks it will be in the next six to twelve months, and nothing more specific.
same here, i got a proxy from mmxt, nothing from scmi.
a company roll out without i-pod compatability would put B.M.G in a very bad situation from a public relations standpoint. my biggest concern is not the product. my concern really is with the way this merger is going to take place. it was bad enough to have taken the loss of the dividend, but it seems scmi is shouldering the entire burden of this merger. if scmi is to merge with mmxt on a 1/1 basis, why are holders of scmi having to eat another 90 million more shares? if the 2 are going to merge, why have we not heard anything about mmxt issuing more shares, since that is the company left standing in the end?
waxie, killer could be taken 2 ways, good killer, or killer, as in we get killed. while i don't expect your broker gave you the news, did he mean good news, or the other killer?
same here. he posted facts, and pulled no punches. his information was usually very accurate.
in the past is about a month or so ago. i would highly doubt that any legit shareholder would be happy with the news that not only do we lose the promised dividend, but they intend to issue 90 million new scmi shares, even though the company is merging with mmxt. why even more dilution on the scmi side? why was there nothing in the mmxt proxy about increasing the outstanding of mmxt, when they will have to issue a ton of shares to cover a 1/1 transaction. they will in fact have to issue 90 million more than the 450 million. this makes no sense.if they were going to increase the outstanding, why increase scmi, when they are going to have to increase the outstanding of mmxt a couple of months down the road?
most have not. they found me quickly enough when they sent out the qtig name change proxy.
how do you know what he owns?
mindy, scottrade shows volume of 4000 for the day.
are you saying you sold a million shares today, and it isn't showing ?
than we now know what the float is. qtig gave 19+ million shares to the dtc for distribution, if dads numbers are correct, than the float should be about the amount that dad stated.
it would seem more likely that the company that received the 19 million qtig shares was the company that distributed the dividend to the brokers. do you see any brokerages, like schwab, or e-trade on that list?
dad, if cede and company took 19 of the 24 million shares,how did we get any shares? are they now naked shorting qtig?
this is true, clearly they do not need anything from shareholders. they have increased the outstanding without shareholders aproval before.
i am not sure if i am the greg you are asking, but the answer is no, i did not get the proxy.
that is the most likely scenario. i would believe that he will talk about the product, not the symbols or the stock. if he is invested in either, it would be trouble. he did not buy shares in siri, he announced that he was going over to siri, that is what caused the stock to pop.
where did you read that it will be aired on monday?
not at all, i was not implying that. it is confusing to me as to why anyone would be paying .09 for one and the other sits at .065.
the transfer of the certificates back to the transfer agent will not be done in a day. the certificates will have to be recalled back to the transfer agent, in turn new mmxt shares will be sent out in return for the scmi certs, when it happens, expect a delay, it is inevitable.
same here.