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Hey little girl....wanna buy a doll from me?: https://plus.google.com/112874467113865323080/photos/photo/5758380030483232562
Is this Trey's dad?: http://www.houstonpress.com/1999-01-21/news/walter-waldhauser-wired/full/ - if so, the new gig might be a favor for Trent's former cell mate?
Does anyone know which door (Men's or the Women's restroom) leads to Suite 215 at the Tasti-D-Lite frozen yogurt shop?
Correction to my earlier post - the new World Wide Corporate Headquarters for OBJE is 1707 Post Oak Blvd. Suite 215, Houston, TX 77056. The aforementioned statement that the new digs are in a UPS store PO Box is inaccurate. The UPS Store actually has a street address of 1707-1/2 Post Oak Blvd.
The correct address for OBJE is also home of Tasti-D-Lite frozen yogurt.... http://goo.gl/maps/SRCvr
Scambler enters into Plea deal - sentencing on May 28....stay tuned...
LOL - Eddie Austin, Jr. appoints another buddy as the new CEO of GTSO. Wonder what "other business opportunities" does Paul Watson intend to pursue.....
There is no need to make another inventory run.
3rd Quarter 10Q: Initial inventory = $250,000
4th Quarter 10K, Inventory after Christmas sales = $146,488
1st Quarter 10Q, Inventory = $144,690 (a draw down of only $1798 for the quarter).
The cost of goods are likely to be a fixed amount based on the initial run. From the 10K sales, gross margin was about 20% - based on advertised pricing of $24.95, and assuming giving the distributor a 5% cut, the per doll cost of goods is about $18.71 each.
I seem to recall that the HEB doll price was somewhere around $20?? So after HEB took their small cut, I would not expect much, if any margin on the dolls sold.
Regarding the HEB roll out - that happened in April, which is a later event not included in the 10Q.
Comment - I am frankly surprised at the gross margin being negative - the sales noted would have been after the NYC trip and after Dollgenie/wayfair/others started marketing online - one would expect that irregardless of the number of dolls sold, that the margin would have at least been in positive territory. It does not take a rocket scientist (or even a gambler) to recognize selling products at less than what they cost to make/distribute, will never be a good business plan.
LUV - Regarding the doll sales for 2Q, one can bank on those "sold out" at the HEB store to be included in the sales you are hoping for - unfortunately, I fear that based on reports of the sales price being substantially less than those found online, I can only predict that after cost of goods, the margin will be (yet again) negative.
10Q is out - let's see how things staked up to my short term forecast - 10Q results shown in bold for comparison purposes after my initial forecast:
Short term Forecast
Outstanding shares = Low of 30 million / High of 50 million (1st quarter 10Q) - 10Q = 25.8 million**
**see subsequent events below
1st Quarterly Sales = Low of $20k (flat to 4Q), High of $40k (double) - 10Q = $2.3k
Gross Margin after cost of goods = $4k to $8k (20% gross margin to remain flat) - 10Q = negative $717
Assets = Hi/Low of $0.6 million (I do not expect any meaningful change) - 10Q = $0.47 million
Quarterly Operating Expenses = Low $1.0 million to a High of $1.5 million for the quarter (expected to be slightly higher based on NY Toy Fair and HEB launch) - 10Q = $0.55 million
Quarterly Interest expense = Low/High of $160k (I expect this to be flat - an increase is expected due to further new debt created partially offset by better financing promised by the $500k infusion) - 10Q = $415k
Working Capital deficit = Low of $4.0 million/ High of $4.5 million (attributed to ongoing cash drain to fund operations)
Convertible notes = Low of $0.6 million to a high of $1.0 million (anything in this lower range would be outstanding and a proper use of the promised $500k infusion) - 10Q = $4.1 million
Company shares repurchased = Low/High of 0 (the company would be foolish to attempt this at this time) - 10Q = $0
Regarding the convertible debts - last financials there were 46 convertible debts for about $1 million, less a discount of $0.4 million = $0.6 million. The current quarter shows that the convertible debt increased to $1.2 million. After accounting for the $0.42 million discount, these convertibles now stand at $0.86 million.
More notes:
We are in default on the $30,000 note payable at March 31, 2014
During the three months ended March 31, 2014, we issued a total of 692,053 shares of our common stock
The good - Decreased accrued interest payable by $183, decreased convertible debentures by $22,217, decreased debt discount by $8,911, decreased derivative liability by $124,501
The not so good - Increased debt discount and derivative liability by $173,000. Increased convertible debentures and prepaid consulting services by $60,000.
Subsequent events:
To fund our operations subsequent to March 31, 2014, we incurred additional indebtedness totaling $139,632, consisting of convertible debentures totaling $135,632 and short-term advances of $4,000.
Subsequent to March 31, 2014, we issued a total of 23,963,687** shares of our common stock: 39,668 shares for unissued common shares; 16,200,000 shares to our founder, officers and directors for services valued at $972,000; 340,000 shares for consulting services valued at $20,400; and 7,384,019 shares for debt conversion of $68,529.
We do not have sufficient cash on hand at March 31, 2014 to fund future operations.
I could not find the $500k advertised infusion but am still digging thru the financials....
Jury Trial starting today....
Why would TEMN have any interest in this one man operation selling vodka out of the back of a minivan when they could easily replicate their own brand by contracting directly with Distilled Resources Inc. to make an identical product, the same way Robert Federowicz did?
Thanks for the response. Taking for a moment that optimistic view, 50,000 units by Christmas at roughly $4 per unit gross margin (this number is derived/calculated from retail sales price and the most recent 10K figures for gross sales and cost of goods), we are talking about an order of magnitude gross margin of $200k.
The interest expense alone is $619k (for 2013). Factor in the working capital deficit of $3.6 million and the 10K stated the Company needs to raise in excess of $1.5 million this year, the statements about the Company staying in business this year are legitimate. This does not include any (deferred) salaries.
The company's only currency is shares of stock. The logical conclusion is that they will need to issue significant shares just to pay the bills and execute their business plan. Getting $200k or so in the door will certainly be a good start, I just think realistically, it will be too little, too late.
LUV - ok, if not the technicals, can you help give us a better/clearer picture of what you would define as a successful quarter/year?
stockbrock - notwithstanding the new management, the track record for OBJE's broken promises are not consistent with your comments - the old management has produced nothing to date and has a horrible track record for bringing shareholder value: http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=obje&insttype=&freq=1&show=&time=8
"Slow and consistent gains is better than nothing" - LOL - when will we start to see that? This stock has been in a solid tailspin for the last year.
LUV - in the interest of fairness and objectivity, can you give us some concrete and measurable statistics as to where the company will be short term (10Q coming out next week) and longer term (by the end of the year)? Specifically, I am looking for your outlook on share price, gross sales, debt, share structure, etc. As a starting point, lets set the benchmark as to where we are at today:
Benchmark
Share Price = $0.0151/share (May 15)
Outstanding shares = 21.8 million (April 14)
4th Quarterly Sales = $20k
Gross Margin after cost of goods = $4k (or about 20% gross margin)
Assets = $0.6 million (Dec 31 - cash, inventory, prepaids, equipment)
Annual Operating Expenses = $3.3 million (or average $0.8 million per quarter)
Annual Interest expense = $0.6 million (or average $155k per quarter)
Working Capital deficit = $3.6 million (Dec 31)
46 Convertible notes = $1.0 million (Dec 31)
Company shares repurchased = 0 (Dec 31)
For the short term forecast, I have inserted what I believe to be the expected high/low range - I am looking to see if you concur, or have your own forecast:
Short term Forecast
Share Price = Low of $0.0075/share, High of $0.03 (between now and May 31)
Outstanding shares = Low of 30 million / High of 50 million (1st quarter 10Q)
1st Quarterly Sales = Low of $20k (flat to 4Q), High of $40k (double)
Gross Margin after cost of goods = $4k to $8k (20% gross margin to remain flat)
Assets = Hi/Low of $0.6 million (I do not expect any meaningful change)
Quarterly Operating Expenses = Low $1.0 million to a High of $1.5 million for the quarter (expected to be slightly higher based on NY Toy Fair and HEB launch)
Quarterly Interest expense = Low/High of $160k (I expect this to be flat - an increase is expected due to further new debt created partially offset by better financing promised by the $500k infusion)
Working Capital deficit = Low of $4.0 million/ High of $4.5 million (attributed to ongoing cash drain to fund operations)
Convertible notes = Low of $0.6 million to a high of $1.0 million (anything in this lower range would be outstanding and a proper use of the promised $500k infusion)
Company shares repurchased = Low/High of 0 (the company would be foolish to attempt this at this time)
Longer term (end of year) Forecast
Share Price = Low of Delisted/Grey, High of $0.10 (between now and Dec 31)
Outstanding shares = Low of 50 million / High of 200 million (4th quarter)
Annual Sales = Low of $40k, High of $160k
Gross Margin after cost of goods = $8k to $32k (20% gross margin to remain flat)
Assets = Hi/Low of $0.6 million (I do not expect any meaningful change)
Annual Operating Expenses = Low $3.5 million to a High of $5.0 million for the year
Yearly Interest expense = Low/High of $0.7 million
Working Capital deficit = Low of $5.0 million/ High of $6.0 million (attributed to ongoing cash drain to fund operations)
Convertible notes = Low of $1.0 million to a high of $2.0 million
Company shares repurchased = Low/High of 0
Please let me know your thoughts.
"broke back crybabies"? - I suppose this is different than being just a "plain old" crybaby?: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=101974179
Man.....sorry to be a little slow on the conversation....although in my defense, some other posters here are all over the place with speed dials, threats of lawsuits, twitter wars, frothing at the mouth about 8A's, etc...sometime I just forget that we are talking about a doll stock here.
The shirts are pretty cool - maybe Dollgenie can add that to the package deal?
"EMBRACE THEIR PRETTY! "
"WE JUST GIRLS TO BE ABLE!"
"Get your stock price out of the dilution zone, okay? And that's bottom line."
"I'm the "rah rah" guy"
"we actually closed a deal that's going to open up distribution channels into three of the largest states in the African nation....we're actually going to opening up several of those markets in the very near future"
"let's just never forget what the core mission of this company is and that's all of our beautiful little girls out there."
Is this the "smoking gun" 30 year elementary school grudge you guys are talking about - were you just not impressed with the artistic impression or just the reference to Spongebob?: http://chicagosmma.com/2011/07/ufc-hall-of-famer-chocolate-al/
I read it differently, I believe it is saying OBJE needs to raise $1 million before a merger can take place.
The incentive plan on the surface does not look to bad. The option strike price cannot be less than 110% of market value. I do see there is a potential (albeit small) opportunity for abuse through the Administrator's exclusive right to re-adjust the number of shares whenever there is a restructure of shares (i.e. splits), but there is also language that it must be "equitable". The quantity of shares for the program are relatively small, so in my opinion this is not a big deal - it just seems odd in light of the last 10K authorizing millions of shares to management/friends/founders/consultants that this "incentive" plan is really not necessary, but just one more "perk" at the expense of non-insider shareholders. I think it sends the wrong message, but again, just my opinion.
Danny is now "Chairman /CEO at OBJE" - since when?!? where's the 8-K?
correction to your statement - late 10Q is required to be filed 5 (business?) days.
yeah... a walk down not to distant memory lane.... http://investorshub.advfn.com/boards/read_msg.aspx?message_id=99988118
sorry....dilution is just beginning: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=101450586
LOL - new corporate headquarters is a UPS shipping PO box.....
Funny you should mention the A/S share count... not sure if you saw this slight of hand maneuver from the 10k:
"....December 30, 2013 to (a) effect a reverse stock split of the Company’s common stock by a ratio of one-for-seven hundred fifty (1:750) and (b) reduce the number of authorized shares of common stock from 1,500,000,000 to 50,000,000..."
Doing the math pre-split.....the company actually INCREASED the A/S from 1.5 billion to 375 billion, THEN did a 1:750 reverse split to arrive at the 50 million A/S structure.
Putting it another way, have you ever seen a stock with 375 billion A/S trading at $0.000027?
Still no word on the previous announcements concerning:
1. "traditional media with on-air radio advertising in Houston"
2. "alternative packaging"
3. the alleged global search for a "new brand" that they can "begin negotiations on"
4. the major "hollywood" motion picture
5. moving into Florida markets
6. Saks 5th Avenue marketing events
7. Canada distribution deals
8. results of its "wholly owned subsidiary TOP Shelf Distributing"
LOL - ASCC "Current" industry news is a month old (April 14: http://www.ttb.gov/statistics/2014/201402dsp.pdf )....Federowicz is grasping at straws....how about telling us something relevant like what ASCC distilled spirits sales are?
....refilling the tub.....good analogy until the well goes dry....
Trent said: "...We certainly know that when you've invested your money and you look at a share price that's 30% or 40% lower than what you invested in or, you know, the share price has these dips, that there's a lot of dilution coming out there, it sends tend to [inaudible] people, okay?...." - any guess as to what the "inaudible" was? "Screw"?
Remember, the "share price has these dips"....I wonder if he should update the percentages to 99.99% to 99.9999%....?
I started reading some of Trent's comments from the paid TV promo back in December to see how it matches up with today's world: http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=9677543
Mr. Daniel: Well. I have to say the sales and numbers have been much better than we expected and I won't get into specifics because we'll put that out when we do our end of the year filings, but I can say that our shareholders and investors and just people out there who are interested in seeing this company grow and this company build, they're certainly going to be happy with the sales numbers. Now I can say and we'll be putting a press release about this later on, that just as of yesterday, our CEO and myself, we actually closed a deal that's going to open up distribution channels into three of the largest states in the African nation
LuvSum - are you "happy" with the $4k of sales numbers when taken in a context of the company spending $3.3 million in G&A and another $3.5 million in interest expense, derivative liability and debt settlement?
I seemed to have missed the announcement about distribution channels in 3 of the largest States in the African nation - which are they?
Mr. Daniel: Well, the reality is, Mike, the reason there is dilution is based on what I just said. It's expensive money. I mean, it's money that has a cost to it. But, it's just like buying anything of value. Let's just say you buy an expensive house, or you buy an expensive car; well, the bottom line is what do you get out of that investment? And, what we've gotten out of that investment is a world-class management team. - clearly there was no lying here - Trent made it real clear that financing was being used to buy Management.
Mr. Daniel: Well, first of all, there's a couple of things that you can do. The first thing is making sure that no more shares come into the marketplace that create excessive dilution. And how do you do that? Well, you pay off any debt or any of these convertible notes that are coming up. Most recently, we just paid off a $65,000 convertible note that, realistically speaking, upon conversion, could have put upwards of 70 million shares into the market place. And that kind of dilution, you know, creates a situation where the stock price gets watered down. So, the first thing is paying off some of this convertible debt. The second thing is the concept of doing some type of reverse split. Now, a lot of times, reverse splits are not popular with people because there's somewhat of a negative stigma attached to it, especially in the OTC space. But the reality is that the reverse split is a strategical move and it's a good one, if it's done at the right time, in the right way. And then the third thing would be to do some type of stock buy-back, or repurchase, where the company actually went out into the marketplace and purchase some of those shares that are out there. So, you know, a combination of those three things are the path it will take in order to get, you know, the stock price exactly where it needs to be. Not only to make investors feel more comfortable and happy, but also, to be able to attract the type of investors that we want and need, at this time, which are the ones that offer terms that are more favorable to both parties, as opposed to heavily weighted to the investor, themselves. - when do we get to Step 1?
Interviewer: And Trent, our last question: As far as investors and bloggers who have been expressing their concern in chat rooms and other online venues, what is your message to them?
Mr. Daniel: Well, you know what, my message to them, and I think I speak for everyone here, is to say that, hey, we get it. We understand. We certainly know that when you've invested your money and you look at a share price that's 30% or 40% lower than what you invested in or, you know, the share price has these dips, that there's a lot of dilution coming out there, it sends tend to [inaudible] people, okay? But, what I want everybody to understand is this: We're building here, okay? This is not Mattel, yet. This is not Hasbro, yet. We're building a brand, and we have to invest into that, and part of that investment is some of the dilution that’s happened. It's some of the things that we've had to do in order to take in capital in order to build this brand. And, whenever anybody expresses concern or complaints, I say to them, "Well, would you rather have a lower share price but we have world-class management team? We have 'A' rated product, we have a group of celebrities and people that are taking our message out of the marketplace and saving us hundreds of thousands of dollars in advertising space and airtime. Would you rather have, you know, a person designing dolls that was a fifteen year veteran of Mattel? A former Senior Vice President from Mattel who was over all Barbie products, is part of our team. A CEO that was at one of the largest banks in the world. All of these things cost money, so the reality is, if you're an investor or shareholder who is not exactly thrilled with where things are, I will say to you, things are where they are because this has just been part of the process of growing and developing this business. That's all there is to it. Going into 2014, you'll see things that will look a lot different. You'll see a much different landscape. You'll see a much different financing picture. You'll see a much different share structure. So, I just tell people to just be patient, we're not really seeing a lot complaints or anything, in fact, we're seeing investor confidence is at an all-time high and it continues to grow as we continue to prove ourselves and prove our business model. So, that's what we're going to keep doing, Mike, and we just appreciate everybody, and we do know that people get frustrated because share prices are not exactly where they want to be. But I just say to them, "Just be patient and just watch what we do and you'll see that everything will work out for the best and benefit for everyone involved." - breathtaking statements....
In the event OWOO slips below $0.01, it would put at risk its OTCQB rating - potentially slipping to the Pink Sheets based on the new rules just implemented.
Bid Test: All current OTCQB companies that do not meet the minimum bid test (minimum bid price of $0.01 per share as of the close of business for at least one of the previous thirty consecutive calendar days) will be removed from OTCQB beginning May 1, 2014. If your prediction of (below) $0.01 comes true next week, the company would have the next 30 days to register at least one day at or above $0.01 to maintain the OTCQB rating.
Ongoing requirements being phased in:
OTC Markets will roll out the new procedures for OTCQB over the course of a year. Each company will be required to comply with the new OTCQB procedures 120 days after its Fiscal Year End(“FYE”). Companies that do not comply with the new procedures within the required timeframe will be downgraded to OTC Pink.
OWOO's FYE ended Dec. 31 2013, putting us already past the 120 day clock. The new requirements are:
* Submit an application to OTCQB and pay an application and annual fee
* Submit an OTCQB Annual Certification confirming the Company Profile displayed on www.otcmarkets.com is current and complete and providing additional information on officers, directors, and controlling shareholders
The next 10Q should give us a good indication, although not specific to HEB, the gross margin they are selling the dolls for (gross sales minus cost of goods). I think much of the speculation on the "give aways" at HEB were based on the fact that the margin for the prior quarter was about $4 per doll. Others assumed that since the dolls were selling at a substantial discount compared to the online retail price, that the margin was near nill. This would be true if the cost of goods remained relatively flat. Since we do not have the data, I would concede that the argument is speculative (but probably not too far off). At the end of the day, the HEB promo was a good first step forward, but would you agree, probably not significant to the bottom line (i.e. let's call it a draw until we get the financials)?
"If anyone is selling @ this pps let me know i am buying more." - try these guys, I know they have been selling shares at a huge discount from 42-75% of the trading price: 1-416-400-4421
The first two years looked in line and very reasonable. I think most here would agree that those salaries were very much aligned with shareholder value and were modest at best - something the World Class Management could take pride in being fiscally responsible.
However, this most recent year is just mind blowing in light of only $4k in net revenues. Even more staggering are the shares issued for Trent/friends/family for "consulting" services - this type of out of control spending is the single biggest obstacle to the Company's success.
I think most here can overlook the hiccups with being a start up so long as the purse strings are being held tightly. The $$ numbers being shoveled out the door are just staggering.
Quick comments on today's positive and glowing news:
"... Customers are thrilled when they receive their dolls and they continue to email us awaiting news of Dahlia, Kimani and Alexie so they can add them to their collection too!...." - investors are awaiting that long overdue news too....
"...With the holiday season clearly in view..." - which holiday? Juneteenth Day?
"...Email Contact: (281) 497-1311..." @ ????
Those pesky business licenses....and OTC requirements.....
Shorting at this price level still does not make logical sense:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=100574333
There is also nothing to support that shorting is occurring: http://www.otcmarkets.com/market-activity/reg-sho-otc
"...why would anyone risk capital in these arenas..." - Answer: Anyone that is willing to do a convertible note that is guaranteed to be converted at a 50-60% discount to current stock price.