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here is my take on what is happening, and of course I'm only speculating until we get further info...
this experienced former VP from Sony is going to monetize this huge catalogue, which probably hasn't been well exploited previously. and perhaps once the catalogue has built a revenue stream, it will be an acquisition target...
read more below from that time magazine article about the process of how it works at Sony... which is where our guy is from>
http://www.time.com/time/arts/article/0,8599,1908185,00.html
What's more, in early 2007, Sony recruited industry veteran Martin Bandier, who turned rival EMI into a publishing powerhouse, to lead the unit. The hire seems to have paid off. Bandier has re-energized Sony's publishing company, completing a number of acquisitions and landing some popular new acts, including former American Idol contestant Elliott Yamin and rising music star Lady Gaga. Along with the Beatles, Neil Diamond and Bob Dylan, the company's 750,000-song catalog now includes the Jonas Brothers, Ruben Studdard and Taylor Swift. In the first quarter of this year, Sony/ATV ranked as the second largest music publisher in the U.S., with just under 20% of the market, up from fifth largest three years ago. Its Lady Gaga hit "Just Dance" was the best-selling song in the first three months of the year. The result: industry sources estimate Sony/ATV's revenue has grown more than 60% in the past two years, to an annual $500 million. Net publisher's share —a closely watched figure in the industry, which is sales minus payments to artists — has doubled, to an estimated $200 million. "The music-publishing business is ripe with opportunities, and we are continuing to grow our business," says Bandier.
read this about the Sony/ATV music publishing biz that Michael Jackson owned 50% of, which included 250 Beatles tunes. It saved his estate, with his 50% stake mentioned in this article valued potentially as much as $1 billion...
for anyone who doesn't understand the value of catalogues of music its worth reading the time magazine article
http://www.time.com/time/arts/article/0,8599,1908185,00.html
>>>
Jackson's 1985 purchase of ATV Music, which included in its catalog some 250 Beatles tunes, for $47.5 million formed the basis of his stake in the music-publishing business and was by far his shrewdest music deal. Yoko Ono, John Lennon's widow, and Paul McCartney had considered bidding a combined $20 million for the collection, but Ono decided that was more than the collection was worth. Jackson's purchase price of more than double that is still far less than what the songs would sell for now.
In 1995, Jackson agreed to merge ATV with Sony's music-publishing business. The Japanese corporation paid Jackson $150 million to complete the deal and split ownership of the new company with the performer 50-50. In March 2007 an audit of Jackson's finances valued his half of Sony/ATV at $390 million.
>>>
What does that mean Sony/ATV is worth? In a recent financial filing, Sony said the division had $1.3 billion in assets and $479 million in debt. That would give the division a net value of about $850 million. But it would be likely to fetch much more than that in a sale. When Universal Music bought BMG Music Publishing in September 2006, Universal paid $2.1 billion, or nearly 12 times BMG's estimated net publisher's share. Sony/ATV probably wouldn't get the same multiple in today's market. But even at 10 times its current publisher's earnings, the company would be worth $2 billion.
I'm not even paying attention at this point, so all i can say is best of luck to anyone trying to buy the next news whenever it hits....
on that first PR, I had to sit on hold on the phone with my broker waiting to buy some shares, and watched it move 001 to .10 without me, 100 bagger on one PR...
bought the news today
pretty well connected in the industry... well I'm holding and waiting...
yah but I haven't sold a one
exactly
I had to call it in the first day that news hit, and while I was on the phone it went from .001 to .10
and I still bought some, and my broker literally laughed at me on the phone.
but they fixed it, so I could buy online,
and I just kept buying all the way down.
maybe I'm nuts, but I remember the elvis publishing reverse merger, and everyone laughed at me when I bought that one too, so I'm just gonna wait it out here and what happens next.
held all mine, added on the dip, so still waiting to see how this develops on next updates...
looking forward to the next updates on this one...
X-Change Corporation Finalizes Acquisition of ConnectedMedia Technologies to Form Leading US Hispanic Digital Multimedia Company
http://finance.yahoo.com/news/XChange-Corporation-Finalizes-prnews-1076567782.html?x=0&.v=1
>>Press Release Source: X-Change Corporation On Wednesday February 17, 2010, 5:12 pm EST
MIAMI, Feb. 17 /PRNewswire-FirstCall/ -- X-Change Corporation (Other OTC:XCHC.pk - News), announced today it has completed its merger with Miami based ConnectedMedia Technologies, Inc., a digital multimedia firm to the US Hispanic market, offering a complete suite of media solutions to better help broadcasters, agencies, advertisers and content owners to target the growing US Hispanic demographic more easily and efficiently in this age of diverse digital convergence...................>>
don't know. I don't really think its due to dilution, as I've known about this ticker for years, and never have seen much evidence of dilution. someone probably just selling a small position.
look at the long term chart on it
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=xchc&sid=0&o_symb=xchc&freq=2&time=12
they put out merger news after the bell and no one even saw it... I've had this one for months, if not years waiting for a reverse merger. I kept reading the filings as they were getting current. but a bit anticlimatic so far since the recent news..
it bottomed and reversed in a big way this week. looking forward to whatever updates may be coming next on this one!
bought the news today... quite a move so far
all i'm doing is looking at the daily volume and price movement. the day it moved up big on news total volume was 1.5m volume and it moved from .0004 to .10 and closed at .03. Since then we've had over 5m volume and the price is .007. I'm not sure what else to make of that.
don't get me wrong, I have averaged down a lot and am hoping for a bounce, as my first buys that first day on news were at .05, but so far, it hasn't worked out too well.
02/17/10 0.0070 0.0070 0.0050 0.0070 +0.0010 400,000
02/16/10 0.0060 0.0080 0.0040 0.0060 -0.0025 1,407,536
02/12/10 0.0060 0.0085 0.0060 0.0085 +0.0025 103,500
02/11/10 0.0070 0.0070 0.0060 0.0060 -0.0034 332,857
02/10/10 0.0050 0.0094 0.0050 0.0094 +0.0044 43,500
02/09/10 0.0070 0.0095 0.0046 0.0050 -0.0020 251,283
02/08/10 0.0084 0.0130 0.0066 0.0070 -0.0030 1,021,426
02/05/10 0.0100 0.0100 0.0090 0.0100 +0.0000 220,633
02/04/10 0.0100 0.0100 0.0100 0.0100 +0.0000 216,558
02/03/10 0.0110 0.0200 0.0100 0.0100 +0.0000 829,000
02/02/10 0.0210 0.0299 0.0080 0.0100 -0.0199 303,128
02/01/10 0.0004 0.1000 0.0004 0.0299 +0.0299 1,530,847
i sold my last at the bottom last week below .01, feeling ill....
had been in for weeks and months. gave up.
sold for a loss last week. ouch
averaged down again today. I keep saying that.
hope the decline stops soon.
seems like dilution since the big move to .10, so no idea how to read this one without more information/filings.
no idea, hopefully there will be some filings soon
added today to average down. hopefully it's consolidating here after the big run it made on news the other day.
this is him too: http://www.linkedin.com/pub/dir/Marc/Offenbach/
Marc Offenbach
Title
MSO Entertainment
Demographic info
Entertainment | Greater New York City Area
Current:Executive at Marketing Service Organization
Past:Sr. VP Adult Lifestyle Marketing & Sales at Sony Music Entertainment,
Sr VP Sales & Retail Marketing at SONY BMG Music Entertainment, Sr....
thanks, here is the monthly volume history I see since the time of that last data, so it would appear the share structure is fairly small
02/01/10 0.0004 0.1000 0.0004 0.0299 +0.0299 1,530,847
01/29/10 0.0003 0.0020 0.0003 0.0000 -0.0003 0
12/31/09 0.0003 0.0015 0.0003 0.0003 +0.0000 200,000
11/30/09 0.0003 0.0020 0.0003 0.0003 +0.0003 140,233
10/30/09 0.0003 0.0015 0.0003 0.0000 -0.0004 0
09/30/09 0.0004 0.0015 0.0003 0.0004 +0.0000 2,638
08/31/09 0.0003 0.0130 0.0003 0.0004 +0.0000 50,000
07/31/09 0.0005 0.6000 0.0001 0.0004 -0.0001 295,000
06/30/09 0.0005 0.6000 0.0003 0.0005 -0.0002 404,267
05/29/09 0.0020 0.6554 0.0002 0.0008 -0.0003 844,982
04/30/09 0.0003 0.0050 0.0003 0.0010 +0.0002 290,701
03/31/09 0.0003 0.0050 0.0001 0.0008 +0.0005 55,000
02/27/09 0.0003 0.0008 0.0003 0.0003 +0.0000 5,015
01/30/09 0.0004 0.0020 0.0001 0.0003 -0.0007 1,106,768
12/31/08 0.0007 0.0050 0.0001 0.0010 +0.0004 1,148,900
11/28/08 0.0007 0.0300 0.0001 0.0006 +0.0000 990,249
10/31/08 0.0040 0.0050 0.0001 0.0006 -0.0024 989,838
09/30/08 0.0050 0.0120 0.0005 0.0030 -0.0020 1,940,112
08/29/08 0.0500 1.0100 0.0010 0.0050 -0.0360 8,619,310
07/31/08 0.5500 0.6000 0.0410 0.0410 -0.5590 2,778,083
06/30/08 0.7500 0.8300 0.2200 0.6000 -0.1310 251,598
05/30/08 0.5500 6.5530 0.5500 0.7310 +0.4810 560,766
04/16/08 0.2500 0.2500 0.2500 0.2500 -9.3500 321,821
today's news reminded me of this one, so that's why I bought some and held to see what ends up happening here
http://www.google.com/finance?q=NASDAQ%3ACKXE
which was an OTCbb at .12 as I recall when news hit one morning of elvis' publishing business reverse merging into the shell, and it eventually ended up on the nasdaq over 30.00.
look at the 10 yr on it and you'll see when it happened.
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=ckxe&sid=0&o_symb=ckxe&freq=2&time=13
would be interested in knowing the share structure and market cap on UCSO, so hopefully some filings will come out soon.
bought the news today.. and held, waiting to see what develops ahead
looks like a paypal and greendotcard competitor to me, overlapping some of the same space in debit card banking
More on the Sovereign Executive Chairman at BusinessWeek:
http://investing.businessweek.com/research/stocks/private/person.asp?personId=62260310&privcapId=61900742
"Michael Burton-Prateley has been Chief Financial Officer of View Systems Inc. since 2009. Mr. Burton-Prateley serves as an Executive Chairman of Sovereign Transfer Services Corporation (formerly Sovereign Card Services Inc.). From September 2002 to December 2008, Mr. Burton-Prateley served as President of Ellingham Associates. From January 2000 to August 2002, Mr. Burton-Prateley served as Finance Director of MMI and raised the equity capital, and implementing accounting ..."
Here is more information at Business Week on Sovereign:
http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=61900742
Here is the merger/acquisition target company's website, according to the update news you posted.
>>"GT Legend Automotive Holdings, Inc. is a Nevada corporation developed to meet the growing needs of the ever-changing automobile after market. GTLA is in the process of acquiring Sovereign Transfer Services Corp. trading as Sovereign Card Services. For more information, visit www.sovereigncardservices.com."<<
under 'about us' shows offices in the US and Europe:
>>
http://www.sovereigncardservices.com/
http://www.sovereigncardservices.com/about.html
Corporate Offices:
United States: 10 Fila Way, Suite D, # 428, Sparks, MD 21152
Europe: 4th Floor 10-13 Lovat Lane, London, EC3R 8DN
US Offices:
1340 N. Great Neck Road, #1272-216, Virginia Beach, VA 23454
10 Fila Way, Suite D, # 428, Sparks, MD 21152
maybe a PR coming when MOU is signed?
how soon will pinksheets update?
I bought today's news. share exchange ahead it says in the pr.
2 week uptrend. what's up?
based on last PR, isn't news likely soon?
I was in RMDM and SKGO 0001/0002 level and held to see what would happen... so its worth it to me to wait and see what happens.
agree. particularly if they are now dealing with the debentures. been in a few of those that worked out extremely well in the past
wow
I bought the news today. now I need to start learning about what I bought!
I bought the news today, and thursday also. amazing momentum thus far