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You are joking, right? Clearly you have not read the content of the company website, otherwise you would have noticed several glaring errors:
Solawerks - the company touts on its website that the IR Charger was delayed but is now "expected now to be launched in Q4 [2013] this year due to a recent design update". Entering 2 quarters later, we are still waiting on the launch. In January, the company gave the delay excuse that packaging was being redesigned (http://ih.advfn.com/p.php?pid=nmona&article=60852639 ), and the latest press release, three months later, states that the delay is now "quality control" issues.... http://ih.advfn.com/p.php?pid=nmona&article=61837350
The non IR Solawerks Power Pack (formerly marketed by SEC suspended GSLO as the "Volt") stated on the company website was supposed to have been released in the 3rd Quarter 2013 - we suspect this product has been discontinued.
The Imagic Smart Phone Wireless Printer is stated to be in Beta testing for expected retail in 2004. We are now a decade later with no product to be seen in stores.....meanwhile, anyone can print pictures directly and wirelessly from their smart phone to any wifi printer - not sure this product is technically useful anymore.
Zaktek PhonePad - the company misleads investors into thinking it is a product owned by the company. DOMK owns a 19-20% equity stake in the private company owning the product, but does not actually benefit from sales of same, nor does it appear to be a distributor of the product.
Imagic Game Controller - the company website states that it will be available late Q$ [2013] or early 2014. Neither the January press release, or the one just issued gave any indication as to when we might actually receive this product to market.
LOL - is it "nickle beer" night?
Regarding May 1: http://www.otcmarkets.com/content/doc/otcqb-fact-sheet.pdf
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.
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.
DOMK's fiscal year appears to end on May 31, which puts their ongoing requirements (assuming they get it up to $0.01 by the end of this month) needing to be met by the end of September.
Since we have a "GUARANTEE" in place, no one should worry.... http://investorshub.advfn.com/boards/read_msg.aspx?message_id=99923050
thanks. The "story" line could actually be pretty good if they take a few steps - my suggestions would be:
1. Take a meaningful pay cut - no start up company succeeds without the principals having "skin in the game". Not saying they need to starve to death, but their compensation should be modest. They have the ability to give themselves fat bonuses once/if the company takes off. This includes founder Trent.
2. Change out the Board of Directors. Having a former CEO of an SEC suspended company on the Board is not good business. Wilma should go to - being family, she is too close to be objective.
3. Stop with the gimmicks (paid IRP's, doll museum, fake twitter buzz, etc). Let the merits of their achievements shine through and investors will follow.
4. Put a muzzle on Trent. Making false or misleading statements about how reverse splits are good for the company is complete BS. Same with the share buyback - complete BS (or at least not in the next 3-5 years in my opinion).
5. Everyone knows small companies need start up capital that is often on not so good terms (ref. Asher) to move forward - it is what you do with those funds that makes a difference. Spending the vast majority on G&A seems disproportionately not good. If they can use the recent $500k to reduce interest expense AND expand their business - I think it is a step in the right direction.
6. Use remaining shares judiciously - the fact that the company took the entire team (at least 5 if not more) to NYC seemed overkill to me and excessive. Any and all expenses need to be watched like a hawk. If Trent were not a founder of the company, are his services really worth that much as a consultant?
I could go on, but this is a starting point.
6.
Excellent post - thanks for the rational and reasonable questions/conclusions drawn.
I am also a bit concerned that Founder Trent Daniels is not considered an employee, yet gets paid both a salary as well as consulting fees.
In general fairness, the Company appears to have been making a reasonable kick off of sales - no one can expect sales of "millions of dolls", and selling about 1000 in the first couple months seems pretty good for an unknown, considering there was no holiday advertising blitz that I am aware of.
The red flag for me is the excessive compensation - McBride-Irby got $429k in cash and stock, while Corinda got $523k - all for $4k+ in gross profit....really??? Add to that another $238k to Hines and Delaney....for what value did they bring to the company? And then there is Trent... $477k! That does not include marketing of the product, interest expense on debt, costs to set up manufacturing and shipping....GESH! This is supposed to be a start up - how about a little fiscal sacrafice (fiscal sanity??) in order to make the company grow??
The other red flag for me is the huge increase in shares -- if we were talking pre-split, the increase would have been 15.5 billion shares issued in the last quarter - staggering by anyone's measure - thankfully, the 1:750 R/S masks that number into a mere 20 million shares post split.
Noticeably absent (or maybe someone can explain it to me as I cannot find it) is the most recent $500k private equity financing - wouldn't this have been noted as a subsequent event worthy of noting in the 10K?
10K Annual Report out - a few highlights:
As of April 14, 2014, the registrant had 21,856,719 shares of common stock outstanding (compared to 823,610,674 shares (1,098,147 post split) on Nov. 18, 2013) - an increase of 1890%
As of December 31, 2013, the company had 46 convertible debentures in the aggregate principal amount of $1,000,289 with accrued interest payable of $52,209.
During our fourth quarter ended December 31, 2013, the company issued 410,669 shares to the executive officers and directors for services valued at $616,000.
During the fiscal year ended December 31, 2013, the Company did not repurchase any of their securities.
The Company has a working capital deficit of $3,636,148 at December 31, 2013.
The Company had an accumulated deficit of $9,725,808 (up from about $6.9 million for the previous quarter - an increase of about 41%).
Sales of the dolls began in October 2013, and they had total gross sales of $20,549 for the year ended December 31, 2013 (or about 936 dolls at $21.95 each). Cost of sales for the dolls was $16,479 (or about a 20% net margin per doll) - gross profit = $4,070.
G&A expenses increased to over $3.3 million for the year, primarily attributed to contract services ($2.4 million) and advertising ($284k). Or putting it another way, the company paid out $817 in G&A expense for every dollar received in sales.
Interest expense continues to be a drain on resources, totalling $619k for the year.
Net loss increased to $6,848,920 for the year ended December 31, 2013 from $1,258,273 for the year ended December 31, 2012.
The Company states "We do not have sufficient cash on hand at December 31, 2013 to fund future operations."
The company believes that their operating expenses will increase over the next 12 months and estimate that their capital requirements for the next 12 months will be exceed $1.5 million - $300k for capital requirements to grow the business (tooling, warehousing, manufacturing, etc), and the remining $1.2 million on marketing, public relations, G&A).
During 2013, the Company paid executive officers (Melton, Gauger, and McBride-Irby) $670k, Directors (Delaney and Robert Hines - former CEO of SEC suspended EVSO) $238k, Founder (Trent) $261k, and Family of officers/directors another $126k for compensation (salary) expenses.
In addition to the above, the following was paid for "consulting and professional fee" expenses: Founder (Trent) = $204k, plus family of officers and directors = $105k.
Asher Enterprises still shown as a beneficial owner of 7.12% of the stock.
Subsequent events after Dec. 31:
The Company incurred additional indebtedness totaling $281,000, consisting of convertible promissory notes totaling $201,000 and short-term promissory notes and advances totaling $80,000
The Company repaid indebtedness totaling $98,726.
The Company issued a total of 20,632,129 shares of their common stock: 39,668 shares for unissued common shares; 388 shares for rounding of reverse split shares; 16,200,000 shares to their founder, officers and directors for services valued at $972,000; 340,000 shares for consulting services valued at $20,400; and 4,052,073 shares for debt conversion of $60,529 (nice bonus!!)
An investor exercised a contractual right to reset the conversion price of a December 2013 debt conversion, resulting in the principal amount of the related convertible debt increasing from $30,000 to $47,455
ST - thanks for the response and your opinion on the possibility of short selling.
With regard to (illegal) naked short selling, the practice vs. theory has been much debated (here is a good link: http://en.wikipedia.org/wiki/Naked_short_selling ) - in a nutshell, the practice of naked short selling is generally legal if the shares are covered within 3 days. If not, this is deemed to be a "failure to deliver" and would show up as a red flag on the Reg SHO daily list - currently DOMK is not on the list: http://www.otcmarkets.com/market-activity/reg-sho-otc
Suggest we watch over the next 3-5 days to see if recent activity indicates any support to your theory.
My opinion the answer is much more simple to explain - the past week saw substantial gains and you are simply seeing profits being taken. Whether this is also indicative of new shares hitting the market for further dilution is yet to be seen - but having a 76% increase since the last quarter report would be my vote as a significant contributing factor.
Brokers require investors to put up collateral to guarantee against potential losses in the form of margin requirements. Often times, brokers will require OTC investors to have $2.50 of margin per share to short a stock under $2.50, which can make shorting penny stocks very costly.
For example, if an investor shorted 2,000 shares of a stock at $0.50, you have to have $5,000 in your account. All along, the maximum profit for this position would only be $1,000, if the stock went to zero. Some may think the risk/reward at this level might be worth it.
However, in our case, with DOMK trading at +/- $0.0037/share, lets say if you wanted to short 1,000,000 shares (assuming you could find a broker to find the shares), you would have to have $2.5 million dollars in your account to cover the margin requirements, all just for the opportunity to make a maximum profit of $3,700. You begin to see why no one in their right mind would be shorting this stock at this price level.
Which brings us to the conclusion, that the current price drop is simply more selling by those with large chunks of shares - most likely the convertible notes beginning to hit the street and/or insiders who have lots of cheap shares. It is also likely those who loaded up last week now taking their profits.
"Being shorted heavily thats why its trading the way it is" - not likely - do you have any idea what the margin requirements are to short a stock at this price level??
Post #162 eludes to the company having $1-$5 million in revenue. Yet when we look at the financials (dated as they may be), it shows that total revenues since inception (2002 - 2009) were a meager $25,419: http://www.otcmarkets.com/financialReportViewer?symbol=CTXE&id=29817 - that zoominfo website is simply wrong.
Post #164: "....Bill Kerrigan said the geological, engineering, and operational synergies that both companies will achieve together provides the critical mass needed to successfully compete in acquiring and developing additional oil and gas reserves...." - HUH?? CTXE has no geological, engineering or operational expertise. Certainly the $39 in the bank from 2009 has not accrued enough interest income to support anything getting up to "critical mass"!
Post #166 - relying on the share structure statements from 2009 as being "current" is probably not a good idea.
Gee...I don't know....no financials reported in the last 5 years, no 8K filing for change of CEO, a former CEO facing felony charges, a muddled relationship with BFDE and FTTN, a new venture with a complete unknown partner andh no apparent means to pay for it...what is left not to like?
No financials since 2009? How can this company even be publically traded? How can CTXE possible pay for all of these drilling prospects - it has no cash (that we know of). There is a reason why OTC has a "STOP" on this stock: http://www.otcmarkets.com/no-information-warning
Securities that do not meet the minimum bid price test will be
downgraded to OTC Pink. It will be a phased in approach over the next year or so.
Regarding today's press release, the company sure knows how to put on the spin.....LOL! Zero Revenue, boasts about having less losses after discounting the collasal failure on the Barefoot-Science license fee, fails to mention the 76% increase in outstanding shares, brags that the Monetizer has "...Progress has been better than we could have ever expected...", yet has failed to make the lions share of the first installment payment, acknowledged further delays for the IRCharger "....due to quality control issues...." (in January - the story was that it was delayed due to "product package redesign"). No mention at all of the SmartLink that was supposed to have been released last month. No word on the Imagic Printer roll out any day now. No mention of the 307.4 million shares waiting of convertible debt.
10Q out on DOMK:
176 million shares outstanding (vs. 100 million the previous quarter), an increase of 76%.
307.4 million shares of convertible debt outstanding with another 50 million shares potential to be converted from preferred shares. The notes are particularly discounted/dilutive as more further outlined in the 10Q and are with a number of loan sharks including Asher Enterprises - an entity known for toxic financing for many companies.
Bank overdraft of $56 recorded for the quarter.
$17.8 million in accumulated losses to date.
Revenues for the third straight quarter = $0
DOMK entered into a licensing agreement with Wazzamba SA in which they have to pay $300,000 over three pay periods. The company made an initial payment of $25k, but is now past due on the remaining $75k of the 1st installment payment.
The two employment agreements include annual salaries totalling $390k.
On February 24, 2014, the Company increased the number of authorized shares of common stock to 900,000,000 shares
ruh-roh.....the pump is over and the "sweet" volume has disappeared....guess they did get "DOMKed"...
Notwithstanding the "nasdaq soon" prediction, time is running out to make "$1-$2 over the next few months"...in fact, the more immediate issue is May 1 when the OTC is making new listing requirements for a $0.01 minimum bid to remain current on OTCQB - otherwise companies like DOMK will be downgraded to the dreaded "pinkies" this year....
http://www.otcmarkets.com/content/doc/otcqb-fact-sheet.pdf
But I guess, we have nothing to worry about since you "GUARANTEE" it will be going to pennyland and dollarland soon: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=99923050
Just curious as I cash out the kids' college fund to take you up on your guarantee - what are the money back options to back your statement....shares of IDNG?: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=99996439
Laurie Mazzarella – the queen of one day pumps at Microcap Innovations is behind the latest spamvertizing email blasts on HORI:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=96544367
Infinite Funding is the note holder for HORI. Infinite Funding is owned by Andrew Farmer:
http://www.sec.gov/litigation/litreleases/2013/lr22680.htm
The Securities and Exchange Commission announced today that on April 9, 2013 it filed a subpoena enforcement action in the U.S. District Court for the Northern District of Texas against Andrew Farmer and Iridium Capital, Ltd. (Iridium). According to the filing, the SEC is investigating possible market manipulation in connection with transactions in the securities of Chimera Energy Corporation (Chimera), whose shares were traded on the over-the-counter market. Pursuant to subpoenas issued in December 2012, Farmer and Iridium Capital, Ltd. were obligated to produce documents to the Commission, but have failed to do so. Accordingly, the SEC filed its Application for an Order Requiring Compliance with Administrative Subpoenas.
The SEC’s application explains that beginning in July 2012, Chimera commenced a promotional campaign that caused a dramatic increase in the trading volume and price of its stock. The SEC is investigating, among other things, whether the claims in Chimera’s press releases are materially false or misleading. On October 25, 2012, the SEC temporarily suspended trading in the securities of Chimera because of questions concerning the accuracy and adequacy of publicly disseminated information about, among other things, Chimera’s business prospects and agreements
Pumpers working overtime: http://stockpromoters.com/news-letters.aspx?symbol=HORI
I could not get the link you provided to work, but this one I think is where you were looking:
http://www.linkedin.com/pub/andrew-ritchie/51/435/a58
Clearly does not show he received a degree from Harvard, otherwise he would have indicated a B.A. or Masters, or something similar.
HORI DD:
LOL - last week's news release - an option to maybe participate in an unknown well, with unknown potential, drilling to an unknown depth, with an unknown partner, with an unspecified working/net revenue interest, with no employees with any oil and gas production experience, with a company that sells a couple of drill bits - sign me up for this sham!
Degree from Harvard?? Where did you read that? From his bio, it says he attended what appears to be a short online program for a "Senior Executive Leadership Program" at Harvard - not exactly a "degree" from Harvard.
"New Revenue Streams" - HUH? As opposed to the non-existent revenue streams previously done?
wow...was that three or four "much, muches"?
Sorry you did not make $0.01 on Tuesday -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=99830546
The day is still young…you may still see your $0.03 by today….
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=99833519
Are you still optimistic about hitting “pennies” this week?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=99837505
How about the “HUGE, HUGE, HUGE” buy getting DOMK to .03 - .05 by next week?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=99899405
A 30,000% exponential increase (~$1) by May – which news are you referring to - do you have insider info?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=99899659
Maybe we can hope for the $1 to $2 by next month? I want to “watch and learn” … what is your timeframe for the $5 mark?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=99883532
Nasdaq this year, wow – please tell us more how it intends to meet the minimum listing requirements for income, earnings, assets, cash flow,revenue, corporate governance, BlueSky, application fees, etc..??:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=99913607
https://listingcenter.nasdaqomx.com/assets/initialguide.pdf
Same pitch (SolaCase), 2nd round (IRCharger)....: http://seekingalpha.com/instablog/1073130-pablopicker/1039691-domark-international-one-stock-to-avoid-in-the-smartphone-wars
LSP - welcome back, don't be a stranger! We can agree to disagree, just don't take it personally....
If you are referring to the IRcharger as one of the two products coming to market - this product was promised to have been delivered last August, and was claimed to have "received 158,000 orders" - this alleged order was before the product even came to market or was even advertised - how is that even possible? These guys must be REALLY good at marketing.... ref.:
http://blog.qualitystocks.net/domark-international-inc-domk/domark-international-inc-domk-reports-strong-demand-for-new-ircharger-cover/
One would also presume that any pre-orders would show up as backlog inventory in the latest 10Q??
Furthermore, the latest teaser about having an imminent deal for 2.4 million units per year minimum is also probably grossly overstated. Think about it just from a common sense perspective - how does a three man company, with ZERO sales, suddenly go to a minimum of 2.4 million units ($144 million in gross sales) overnight in their first year sales (not including their other new product)? Who has ever done that?
consider this about the IRcharger - this product is being pushed by Michael Franklin - the same guy that brought you the VOLT charger for SEC suspended GSLO.....DOMK did the old bait and switch for customers who ordered the product, only to find out it was leftover inventory of the VOLT!
More pleasure reading on GSLO: https://www.sec.gov/news/press/2011/2011-120.htm
Which figures in the filing are misconstrued?
From the last 10Q: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9709901
"The Company had no revenues for the quarter ended November 30, 2013" also, "The Company had no revenues for the six months ended November 30, 2013" - I think stating that they had ZERO sales is entirely accurate, no?
"Total operating expenses for the six months ended November 30, 2013 were $1,033,397" - estimating +/- $2 million for the year is likely to be pretty accurate, no?
"Cash and cash equivalents $ (38 )" - page 3 (assets) - accurate, no?
I stated the only meaningful asset of the company was the investment in Imagic Ltd. The company in fact does have another 15% equity investment in Barefoot Science for about $15k after having recognized an impairment charge of $4,605,480 in the year ended May 31, 2013 after the Marketing and Distributino Agreement was cancelled. Most I think would agree this 15% stake is not meaningful, but stand corrected if you feel otherwise.
Regarding subsequent events to the 10Q, the Company has reported a number of new product initiatives to bring value to shareholders. In particular the Jan. 30 shareholder update: http://ih.advfn.com/p.php?pid=nmona&article=60852639
1. The IRcharger/Power+ was promised to be available "very shortly" in retail outlets and online. This has yet to come to fruition. There was also the tantalizing promise of a "signing a global distribution agreement for a minimum order of 2.4M units per annum are now on track with our preferred wholesale worldwide distributor." - we are now 2 months later with no news of same.
2. SmartLink - the Company stated "product being targeted for general release at the end of March 2014." - since we are in April, one would expect an update.
3. Imagic Printer - 2nd quarter release. No word on expected margins (or costs) - looking forward to more details.
4. Zaktek Product - company admits to it being a flop.
5. Monetizer 101 - results of promised Canadian launch yet to be determined
6. Barefoot Science - another flop
7. Executive team = 3 (I stand corrected over my "one man operation" comment - should be a "3 man" operation)
"many shareholders who own other stock could only wish they had no dilution on the books for the next 5 months. incredible." - shareholders who own this stock only wish they had revenues on the books and something to show for the Company's negative $38 cash in the bank that is supposed to cover the +/-$2 million per year operating expenses for this one man show - "incredible" indeed....
On a bright note, the company invested $918k of shareholder money for a 31% equity stake in Imagic Ltd. - the only meaningful tangible asset of the company. Unfortunately, the horizon for a payout will likely be longer than the "5 months" you stated as to when we will have to worry about the convertible debt being cashed out.
OWOO would not make a good short - the margin requirements are way too high, and a lack of liquidity. Just my opinion....
GTSO 10K out - and it ain't pretty....
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9891098
Diamond V Joint venture appears to be a bust, along with the purchase of Global Cell Buyers. The JV with Chilerecicla is stated to be such an unknown, that the company has essentially written it off (but is hopeful it will be "positive").
The company issued a staggering $651k in toxic convertible notes (at $0.01/share), some of which has already been subsequently converted. As of Dec. 31, there remained $558k (or 54.6 million shares) remaining to be converted.
The company had a whopping $4k in assets for this one man, wanna-be Company....
Outstanding shares increased to 62.4 million (not including the above convertibles).
This company is nothing but hype. Among the dozen+ changes in business plans over the last two years, the company has yet to produce a single revenue stream outside of the sales of custom car audio systems by the original owners of the company
Cutting through the hype of where new shareholders hope the stock price will go to, is this the same DOMK that had ZERO sales last quarter, operating expenses of $320k, issued $457k in convertible notes over the quarter, the increase of A/S by 25% over the last quarter, and paid their one man operation CEO $514k in compensation??
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9709901
Last I heard all of the previous ventures (Barefoot Science, Solar chargers) have gone belly up - how could one have any confidence that these "new" products will not do the same based on the track record of management?
Has management distanced itself from its prime financer, Andrew Farmer?: http://www.sec.gov/litigation/litreleases/2013/lr22680.htm
What about the 50 million (after conversion ratio) of preferred shares that could potentially dilute the A/S by yet another 50%?
We are in agreement - all about perspective - taking into account the previous week's drop of 40% ($0.25 down to $0.15), the company did in fact have a very good week being down only 20% on bigger volume!
Just idle chatter at the moment - waiting for the 10K.
Assuming anyone can find them, ask them if they have ever been able to count the "very high number" reported two years ago or do they not have enough fingers and toes to do the math....
http://content.stockpr.com/_news/domarkintl/2012-03-20_DOMK_Receives_Very_High_Number_of_Registrations_fo_363.pdf
Tweet update from OWOO (posted 3/29/14):
"We had a great week on the stock market (OWOO) and have even more BIG NEWS coming this week. Stay tuned and add us to your stock watch list!"
HUH?? Was I just seeing things with the stock starting the week at $0.15 and ending the week at $0.1199 (a loss of 20%!) - not including the huge drop down to a new all time low of $0.0502 mid-week??
If the above is described as a "great week on the stock market", I am not so sure if the company can stand any "more BIG NEWS"....
The company has filed a late notice for the 10K. It will be April 15.
LOL - the exciting "news" just broke on OWOO's twitter account that Lena has been inducted into the "Black Like Me" Doll Museum. Seriously - getting excited about one woman's private doll collection?? The museum looks more like an episode from A&E's Hoarders.....
Here is a link to the private "museum: (re.: living room) which no one seems to know about from 2011:
http://abclocal.go.com/ktrk/story?section=news/local&id=7963063
Presumably the "large deals" would be with FTTN - yet another one man oil & gas sham?
What would help CTXE are them to be reporting again so we can analyze the share structure and financials. The existing assets are a complete muddled mess - no one knows if they are owned by Bedford or CTXE or someone else altogether. Scambler is to blame for sure - glad to see him go. Who exactly is left on the Board??
LOL....a little late on the news... he has been President for at least 4 months: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=94381725
The key to this current news release is that the company admits that it is still a non-reporting company, having not filed anything in the last 4 years (including an 8K for this latest news).