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Well that's a good question, which certainly cannot be answered until Corey Ribotsky is wrapped up.
A dish served cold we call it.
Looks like the printing press was running that's for sure. I'm surprised the share price is a stable as its been.
Serfdom, maybe Maxwanker's message is correct about the information he posted from Pink Sheets.
But it should be noted that the shareholder records are still being held by Madison and that Corey Ribotsky made some claims.
Have there been any changes to the share structure, any dilution?
Well, how's this 'ole stock doing?
Massive "G" Media Group, defendant.
Interesting video, chap. Tell us, do you know if there's a connection between this stock and Paul Taylor of NCVT and MSGM/RHMX/CCDX/CCDE fame? I'm trying to learn about this company as they say they adopted the liabilities of RHMX and I have a lawsuit pending against it in Nevada. I think I need to join this company as a defendant. Can you give me some information please?
I think he means Corey:
UNITED STATES DISTRICT COURT EASTERN DISTRICT OF NEW YORK ____________________________________ X
MADISON STOCK TRANSFER, INC.
Plaintiff,
-against – NETCO INVESTMENTS, INC., MARCO CHAVARRIA CV06-3926 (Wexler, J.)
Defendants.
____________________________________ X
DECLARATION OF JONATHAN L. SCHECHTER IN SUPPORT OF MOTION TO INTERVENE AS PARTY DEFENDANTS
JONATHAN L. SCHECHTER declares as follows:
1.
I am General Counsel of The N.I.R. Group, LLC (“NIR”). NIR provides and has provided since in or about 1999 management services to the entities which seek to intervene in the above-entitled action as party defendants, i.e., AJW Partners, LLC, New Millennium Capital Partners II, LLC, AJW Offshore, Ltd. (formerly know as AJW/New Millennium Offshore, Ltd.), and AJW Qualified Partners, LLC (formerly known as Pegasus Capital Partners, LLC) (collectively, “Intervenors”). I am fully familiar with the facts set forth herein based on personal knowledge or corporate records and make this declaration in support of Intervenors’ motion for an order (a) permitting their intervention as party defendants in this action and (b) for permission to file their answer, and cross-claim and counterclaim in the action, which, I understand, accompanies this motion.
2.
Each of AJW Partners, LLC, New Millennium Capital Partners II, LLC, and AJW Qualified Partners, LLC is a limited liability company maintaining its principal office in Roslyn,
New York. AJW Offshore, Ltd is a corporation organized under the laws of the Cayman Islands
with its principal office located in Roslyn, New York. The Intervenors’ members or shareholders
have contributed funds to the Intervenors for investment by the Intervenors. On or about the
following dates, the following Intervenors loaned the following amounts and received secured
convertible debentures as Holders thereof in return in the same principal amounts from a
predecessor of defendant NetCo Investments, Inc. (“NetCo”):
January 31, 2002: $70,000 (AJW Partners, LLC), $35,000 (AJW Qualified Partners, LLC), $75,000 (AJW Offshore, Ltd.), $70,000 (New Millennium Capital Partners II, LLC)
May 31, 2002: $7000 (AJW Qualified Partners, LLC), $14,000 (AJW Partners, LLC), $15,000 (AJW Offshore, Ltd.), $14,000 (New Millennium Capital Partners II, LLC)
July 17, 2002: $56,000 (AJW Partners, LLC), $56,000 (New Millenium Capital Partners II, LLC), $60,000 (AJW Offshore, Ltd.), $28,000 (AJW Qualified Partners, LLC)
September 30, 2002:: $50,000 (AJW Partners, LLC), $50,000 (AJW Offshore, Ltd.), $20,000 (New Millennium Capital Partners II, LLC), and $30,000 (AJW Qualified Partners, LLC)
All of the above debentures were made and given to Intervenors by MarketCentral.Net Corp., a
Texas corporation and predecessor of NetCo, except for the debenture in the principal amount of
$50,000, dated September 30, 2002, which was made and given to AJW Partners, LLC by Trezac
Corp., another Texas corporation and predecessor of NetCo. Each of these notes provides that:
1.1 Conversion Right. The Holder shall have the right from time to time, and at any time on or prior to the earlier of (i) the Maturity Date and (ii) the date of payment of the Default Amount (as defined in Article III) pursuant to Section 1.6(a) or Article III, the Optional Prepayment Amount (as defined in Section 5.1) or any payments pursuant to Section 1.7, each in respect of the remaining outstanding principal amount of this Debenture to convert all or any part of the outstanding and unpaid principal amount of this Debenture into fully paid and non-assessable shares of Common Stock [of the issuer/borrower], as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Borrower into which such Common Stock shall hereafter be changed or reclassified at the conversion prices (the “Conversion Price”) determined as provided herein (a “Conversion”) ….
3.
Annexed hereto as Exhibit A is a copy of the secured convertible debenture given by MarketCentral.Net Corp. to AJW Partners, LLC, dated January 31, 2002, in the principal amount of $70,000. The text of this debenture is representative of the text in all of the convertible debentures identified above.
4.
Pursuant to the right granted to each of the Intervenors/Holders unilaterally to elect to convert some or all of debt owed to the Holder under the debenture into equity, the Intervenors/Holders converted some of the debt under the convertible debentures into shares of common stock in NetCo on or about and prior to July 11, 2006.
5.
On or about July 13, 2006, the Intervenors/Holders of the convertible debentures identified above elected to convert additional amounts of debt owed to them under the debentures into common stock of NetCo but have not received share certificates representing the shares of common stock of NetCo to which they are entitled. Under such elections, the Intervenors are entitled to the following amounts of shares of common stock of NetCo, the certificates for which have not been issued to Intervenors: 322 shares (AJW Partners, LLC), 322 shares (New Millennium Capital Partners II, LLC), 345 shares (AJW Offshore, Ltd.), and 161 (AJW Qualified Partners, LLC).
6.
The reasons why NetCo’s transfer agent, plaintiff Madison Stock Transfer, Inc., did not issue share certificates for this stock to the Intervenors, despite demand on behalf of Intervenors on the transfer agent, were (a) because of what the transfer agent viewed as a claim to common stock of NetCo by defendant Chavarria and (b) subsequently because the order dated August 15, 2006 in this action “impose[d] a stay on any new issuances of stock of Defendant NetCo Investments, Inc. ….” A copy of the order is annexed hereto as Exhibit B. I further understand that the plaintiff, Madison Stock Transfer. Inc., in its complaint in this interpleader proceeding,
seeks an order “enjoining both Defendants [i.e, both NetCo and Chavarria] from new issuances until the instant litigation is adjudicated.” (Complaint at ¶ 33). I further understand that the plaintiff’s complaint also seeks to adjudicate the validity of a purported “cognovit note” and judgment by confession by which defendant Chavarria apparently claims entitlement to common stock of NetCo, and that the complaint requests, at paragraph 46, that the note “be fully adjudicated in all respects, inclusive of transfers, new issuances, respective restrictions on shares, operational control, and legitimate authority.” It appears from this request, specifically the references to “transfers [and] new issuances,” that the final relief sought by plaintiff, if granted and depending on its wording, may interfere with the exercise of Intervenors’ rights to convert debt for NetCo stock under the convertible debentures. Accordingly, without the intervention requested by this motion, at least until conclusion of this action and perhaps beyond, NetCo is, and may be after conclusion of this action, barred from converting debt owed to the Intervenors into NetCo stock to which they are entitled under their convertible debentures.
7.
Thus, the Intervenors have a direct interest in this action as their right to immediate possession of stock certificates for their conversion of debt into equity has been denied them by reason of the preliminary injunction in this action. Furthermore, as set forth above, the outcome of this action could very well impair or impede Intervenor’s ability to protect their interests depending on the final disposition of the action.
8.
It is respectfully submitted that, in order to protect their entitlement to their conversion rights, Intervenors should be permitted to intervene in this action and file their answer, counterclaim and cross-claim. No existing party will adequately represent the interests of the Intervenors as all have agreed to conversion of what was in effect a temporary restraining order into a preliminary injunction.
I hereby declare under penalty of perjury that the foregoing is true and correct. Executed on September 15, 2006. /s/ Jonathan Schechter________ JONATHAN L. SCHECHTER
Well what's happening is the new management said that they assumed all liabilities of the Hip Hop. Then they said that the claims of 30 million homes was false. Thus they admitted fraud by their predecessor. Now if they assumed the liabilities, and conceded overstatement of the numbers, anyone who bought can easily win a nice suit against the gang.
But, alas, I didn't buy.
I hear that you're posting antagonistic material Major, going to get yourself banned!
Well we know that MSGM/RHNA/RHMX/CCDX/CCDE etc. is simply a cash flow machine for Mr. Taylor. That's all there is to know. I think the MSGM kick was to give back the borrowed assets to Atonn. I'd guess that Paul is the one who converted and sold some preferred shares and made some bucks, that the tv station was borrowed, that a kickback was given to Atonn to give him some start up capital, and now things are going back into the hands of everyone.
The above is just speculation and is based on past experience and may not be what actually happened.
But regardless, it's shady.
Hey Wanker, you didn't really think did you?
I promise you this, I'll be updating the i-Box shortly and it'll contain alot of new information.
Do you have your one share?
What I meant by don't get is excited is the appointment doesn't change anything. The company has nothing and does nothing.
Well I'm glad someone made money.
All Major thinks about is partying, all depressed over FGFC and IBCX.
Weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee... crash, ouch!
When I have more time, I'm going to Florida and kicking some arse. If there are hip-hop guys guarding the gated community, I'll bribe them with a 2 Live Crew ringtone and 500 shares of MSGM.
Had to visit Florida, had some investigating to do there. Needed to see for myself what $600,000 buys for a home in Delray Beach and compare that to what it would get you in Costa Rica.
Louie Saffell has a college degree in, I believe, the studies of rocks. Don't get excited though.
I'll fix that. I think I was thinking preservatives, not hip hop. Hopefully our new assistant moderator can help us keep things accurate and updated in the I-box.
Louie Saffell's not a wanker, that's for sure.
Down near the Everglades, someone's ears are burning. I was in Florida a few weeks ago for a one day trip courtesy of a certain airline that broke down, but I didn't have the time to visit anyone.
You're the mod.
Paul's keeping it for himself. I think this was a scheme to get some stock money and then put the Real Hip Hop Network back into private hands. I don't think MSGA shareholders own the network, do they?
Well RKD you could always sue these clowns.
Who banned you from Netco? You'll never be banned from here.
We're now MSGM, LOL.
Matt will be moving us over to the new ticker.
How about today's PR where they continue to assert they own RHNA?! Like a said before, every deal with Paul Taylor goes sour. Somebody always gets taken. In this case, I think he's messed with the wrong crowd.
RMD Entertainment Grp Co-Produces Obama '08 Special
Company Endorses Candidate's Bid for Election
RMD Entertainment Group (PINKSHEETS: RMDN) announced today that the Company has co-produced an exclusive 30-minute TV Special Event "Obama '08."
RMD Entertainment Group, in association with Mechanismo Corporation, captured an exclusive one on one interview with Presidential hopeful Barack Obama and also shot other exclusive content and voter feedback this past weekend in Cleveland, OH.
The interview was conducted by Jamie Sevier, host of the show "Hip Hop 2 Night with Jay Miller." "OBAMA '08" will be edited into a 30-minute production.
Giorgio Costonis, CEO of RMD Entertainment Grp & RHNMedia (Nevada) (PINKSHEETS: RHNA), commented, "Mr. Barack Obama is a unique individual that exhorts a fresh energetic perspective and drive in today's political landscape. After watching the footage we were unanimously moved by his sincerity and determination to truly make a difference for our country. We will continue to give him support in his candidacy through the duration of the race and wish him the best of luck."
About RMD Entertainment Group
RMD Entertainment (RMD) is a cutting-edge entertainment company that is primarily focused on the development and international marketing of hip-hop music, including compact discs, digital downloads, and personal ring tones for mobile phone customers, as well as other hip-hop lifestyle products. The Company has also created MOTV, the ability to stream video content to mobile devices, including cell phones and PDAs. The Company currently possesses an impressive hip-hop catalogue, which it distributes exclusively through Bungalo Records and Universal Music Group (a subsidiary of Vivendi Universal in North America and in Europe through the Pickwick Group Ltd. of London).
About RHNMedia
RHNMedia is the first cable network dedicated exclusively to hip-hop lifestyle and culture. RHN has a regular programming schedule devoted almost entirely to the hip-hop marketplace with a targeted selection of programming centered on the foundation of hip-hop's core elements: Deejaying, Emceeing, Break dancing and Graffiti. Target Audience: 18-34 demographic, in both urban and suburban markets. Certain programming is targeted towards the 12-24 audience.
www.RHNMedia.com
Forward-looking statements in this news release relating to the Companies expectations regarding demand and pricing are made pursuant to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used herein, words such as "expect" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on assumptions made by and information available to the Companies. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, without limitation, the future demand for, and sales volumes of, the Company's products, future production volumes, efficiencies and operating cots, increases or decreases in the prices of the Company's products, the Company's future stability and growth prospects, the Company's future profitability and capital needs, including capital expenditures, and the outlook for and other future developments in the Company's affairs or in the industries in which the Company participates and factors detailed from time to time in the Company's periodic reports filed with the United States Securities and Exchange Commission, and other regulatory authorities. The Company has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Market Wire (March 2, 2007 - 12:12 PM EST)
News by QuoteMedia
www.quotemedia.com
The way I look at it, the people who hold old CCDE/CCDX stock like RKD need to sue both RHNA and the other company. After all, they publicly said they adopted all debts and liabilities of RHNA.
I'll be adding them into my libel suit very shortly.
Ja ja ja.
Same BS different company name.
http://www.primenewswire.com/newsroom/news.html?d=114806
Paul probably, who else.
Who are you Katylied? I smell a conspiracy and it doesn't smell good. I'm watching you and Major I don't trust either of you.
A guy named Paul who lives in Florida.
Well you see it was a scam to getsome cash. You need to join the sue team and get your money from Paul Taylor investment man.
rca
I see you only post here. So I have two questions. First, are you Paul. Second, are you Atonn? LOL.
This reminds me of ncvt.