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Gr8 deal!? Just like SirenGPS or worse?
Well at least they can't do any worse than SirenGPS, since that was totally written off as worthless within a matter of months, or can they do worse?
Of course, there is always the possibility that instead of just issuing about 1.4 billion common shares to retail investors, like they did with SirenGPS, that Good Gaming allows them to issues billions upon billions of common shares into the retail market, all sold by insiders, before the whole thing falls apart.
I think that, for the retail investor, Good Gaming has the potential to be far worse than SirenGPS. I expect Good Gaming will allow the company to issue billions upon billions of 'decorative common shares' into the retail market.
It would not surprise me to see the company issue 3 or 4 billion more common shares in the next few months, all of which will have no ability to do anything with the company since the preferred control the company.
Louis J. Desy Jr.
AWESOME! ONLY 500 million shares sold to retail!
Amended Current Report Filing (8-k/a) 11/13/2015 @ 11:02AM:
http://ih.advfn.com/p.php?pid=nmona&article=69303571
Meanwhile our funding partner profited by selling almost 500 million shares through the conversion of aged debt issued by the Company prior to our time with HDSI.
What about the preferred shares?
Don't you think that the preferred shares, that convert into over 17 billion common shares, are like a form of debt?
Louis J. Desy Jr.
SirenGPS 'thrown in the dumpster' as worthless
Nope, the company announced that the SirenGPS product was written off. In effect, they threw the whole thing away in a dumpster and was totally worthless.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=118299418
All assets of HDSI's SirenGPS business, including intellectual property, software code, trademarks and customer lists, will be removed from HDSI.
Expected bankruptcy on or before December 15, 2015
The next interest payment due is payable December 15. While the company has the cash to make the payment, there is no logical reason to make it for the following reasons:
1: If the company makes the payment, it will probably fall below the required $550 million in cash required under debt conditions, so it will be in default anyways. What is the point of making a payment if you are going to default on a loan still?
2: The company is losing all kinds of money every quarter. Unless there is an incredible rise in coal prices, the company is just sinking more and more. It is already far too late for the common shares, and now the losses are all going to cut into the secured and unsecured debts/liabilities.
3: Some of the company unsecured bonds are trading near zero, according to some articles. The bonds are higher up in priority than the common stock, so it is another sign that the common shares are worthless.
4: While there is an allowed 30 day grace period when/if they miss the Dec 15, 2015 payment there is no point in waiting. At that point everyone will know for sure the company is dead, and there is no point in any debt holder negotiating anything since on Jan 15, 2016 they can start legal action to take assets.
For these reasons I expect the company will announce on December 15, 2015 that they are not making the bond payments and filing for Chapter 11; probably prior to the open of the market for trading at 9:30am EST.
Louis J. Desy Jr.
Review of tournament?
Do you have a review or something objective that demonstrates that the product works?
It seems like you are making generalized statements about 'how good the platform is' without any qualitative information. What are you basing your statements on? Did you use the product or are you at least citing to someone else that has used the product?
Louis J. Desy Jr.
What is ready?
I would consider a product like this to be 'ready' for the public when it can be used without major problems, at least 95% of the time.
If the system is so poorly developed, or the technology is not able to deliver that, no one is going to give out their credit card information, and pay for something 'that simply does not work' or even worse, hackers can just arrange to win the prizes.
Saying that 'nothing is fool proof' is not the same as having reasonable expectation that the product should work most of the time and be reasonably secure.
The December 2014 running appears that the hackers just simply ran 'ruff shod' over the entire system and disrupted it at will. That system is clearly not ready for sale or use by the public. Who would want to pay money to take part in a system that simply does not work and will be attacked by hackers?
If the system is still at the same level of running a December 2014, there is no way they will be able to role it out on a large scale, and may even be open to all kinds of breaches of data. Those breaches might even be a violation of state laws on data security and subject the company to additional problems.
Louis J. Desy Jr.
Maybe the whole idea of tournaments is not ready yet?
Maybe the real problem is that the technology, hardware and programming has not reached the point yet, that these kinds of things can be run, yet.
Louis J. Desy Jr.
Lack of research?
I would expect that a company that is going to be taking in real money, through credit cards, would not be having problems with hackers impersonating admins or disrupting the system.
Has the company address and fixed all of these problems?
Why did the company allow a system to run that had so many security problems? Was it because they rushed the product to market and it is fixed now, or is it because the company lacks the expertise to properly develop and run such a system, and the current system still has security problems?
What will happen when there are larger number of players and more money involved? Will it all just become a larger target for hackers?
What assurance do investors and players in the tournaments have that hackers can not just rig the games and take all of the prizes?
It seems that from their poor showing December 2014 in running a tournament, that it is now up to the company to demonstrate that they have fixed the problems and the product is ready for use.
Louis J. Desy Jr.
Kathy Hearthstone is a troll?
http://www.dailydot.com/esports/good-gaming-tournament-mess/
Even if we discount all of her quotes on the system, the company itself said that hackers disrupted the system and caused problems.
Unless those problems are fixed, how would any know that a tournament was run fairly and not just have all of the money going to some hackers?
"Many of the issue, Good Gaming said, were due to hackers intentionally disrupting the Teamspeak server that the organization was using to communicate with players, along with others impersonating Good Gaming admins on social media networks."
The Daily Dot article also cited to a reddit group with 1,600 upv otes about the problem:
https://www.reddit.com/r/hearthstone/comments/2pyf7z/good_gaming_is_filled_with_a_bunch_of_idiots/
People are talking about the problems with the system and some posts about getting their money back for the credit card charges that were paid for the tournament.
It is run by Heartstone, but it does have hundreds of up votes so apparently other people think the system has lots of problems also.
Louis J. Desy Jr.
Sounds Good? Did you read the right article?
I am not sure if you are reading the right article, but the headline was that the tournament was a 'shambles'.
Article from Dec 14, 2014 on Good Gaming run tournament.
http://www.dailydot.com/esports/good-gaming-tournament-mess/
Blizzard-licensed Good Gaming tournament ends in shambles
Selected quotes from the article showing how bad the product runs:
"However, players would claim after the event that it was one of the worst tournament experiences they've ever had. One, who goes by Katy Hearthstone, documented her weekend thoroughly, and went so far as to call it a "tournament that should never have happened." "
""It is my firm belief that Good Gaming, Inc. and their staff members should never be allowed to organize an officially sanctioned Hearthstone tournament ever again.""
"Many of the issue, Good Gaming said, were due to hackers intentionally disrupting the Teamspeak server that the organization was using to communicate with players, along with others impersonating Good Gaming admins on social media networks."
So hackers are able to break into the system and effect the tournaments? It opens the question if they could also take all of the prize money by cheating.
"Until they can do that, she'll be playing elsewhere.
I do not believe the company is fit for purpose and that Blizzard should retract official sanctioning of GGI Hearthstone tournaments."
From the article, it looks like the product lacks security, is open to hacking, and does not run properly (i.e. The product/website does NOT work.).
Louis J. Desy Jr.
It looks like it is over
2015 Q3 10Q report for the period ending September 30, 2015:
http://ih.advfn.com/p.php?pid=nmona&article=69207006
plus a follow up report from Bloomberg that cites them as expecting to default
http://www.bloomberg.com/news/articles/2015-11-11/energy-default-alarms-get-louder-as-pain-seen-lasting-into-2016
It looks like it is all over for Emerald Oil. The Q3 2015 report is bad. The company has only $25 million in current assets to pay $38 million in payables. Equity since Dec 31, 2014 has fallen from $321 million to only $44 million due to loses and all kinds of write downs.
It looks like the company is getting hit with all kinds of write offs.
Louis J. Desy Jr.
Web site
I didn't realize that was them. At first I thought they only did the sports stuff.
Of course, it would help if there was enough info, like who the parent company is, so you could tell from the web site.
Louis J. Desy Jr.
Video Game leagues
I assume that the state of NY only is objecting to the sports angle of the business. Of course, there could be a problem in a number of states where they view the contests as a 'form of gambling' and need state approval for such activities.
Louis J. Desy Jr.
The connection
I believe the state of NY views betting on the fantasy sports as a proxy for betting on real sports because the stats for the fantasy leagues come from real games.
So while you are not betting directly on the teams, you can in effect, bet on 'the same outcome' since stats from the real games feed into the league games.
I think that is where the state of NY objects. If the fantasy leagues were not based on real stats, then I do not think they would consider it as an attempt to get around the state's monopoly on sports betting. (Some states allow sports betting, I assume NY is one since I believe there is at least one casino at Empire City in Yonkers and there is Off Track Betting [OTB] in New York state.)
Louis J. Desy Jr.
What exactly is Good Gaming's product then?
I have been trying to find a company web site or Good Gaming's own site and do not seem to be able to find either.
I also do not seem to be able to find any definitive description of what it is, or even where one would go to buy their product or service.
Louis J. Desy Jr.
Good Gambling, looks related, in a way, to real sports
From what I can tell, it looks like money is bet on fantasy teams in leagues, which could be like a 'proxy' for betting on real games, since the outcomes are being based on what happens in real games (the real games provide the stats for the fantasy leagues players).
Louis J. Desy Jr.
HDSI/Good Gaming, maybe not allowed in NY state
I assume the person thinks that Good Gaming might be effected or not allowed to do business in NY state.
If that does happen, it is also possible that it could be the start of a trend where other state ban this type of business.
I assume from what I can tell, that the state views this as a form of illegal gambling on sports and the reason for them trying to stop it. Another reason is that in states where gambling is run by the state, this could compete with that business.
Louis J. Desy Jr.
Don't worry, the company will get it going
I have complete faith and confidence in their ability to pump this thing up. They have never failed before and I see not reason why it shouldn't work again.
The muppets that rush in to buy stocks like this appear to have no idea what SEC reports or financial statements are, since they seem to buy with no logic or reason, and they never seem to run out of money to buy with or there is an endless supply of muppets to do the buying.
While I disagree with everything the company is doing and think it is morally wrong, I do admire their ability to get the pumping going, and even are able to do repeat pumps on the same company, no matter how many things it all crashes down after the pump is over with.
What I find amazing is that how this all works is right in the financial statments, SEC reports and past history; but people buy anyways like they have no idea of how this is going to end; which will be with the stock at $0.0001, no trades, and people screaming that 'they have been taken advantage of'. Everyone just went through that with Paul and SirenGPS; and you would think people would have learned something, but once the pump got underway, all was forgotten and the buying began.
I think that one of the reason they never get sued by shareholders is because everything is disclosed in the reports and it would make it harder to prove there was an con being done by the company.
Louis J. Desy Jr.
GETn rid of the debt here? Yea, Paul was real 'brilliant'
No, he allowed insiders to make all kinds of money while sticking retail investors with stock in a worthless company. Most of the debt converted into shares at a 50% discount, so they made 100% or more in the space of a few months.
There is even a question as to what the debt was for, since assets on the balance sheet never got higher than $515 (that is dollars, not thousands of dollars) and the company never reported any sales. What value was exchanged for the debt when there were no assets ever carried on the balance sheet?
The debt appears to have been nothing more than a mechanism to allow insiders to get hundreds of millions of common shares that they dumped at once into the retail market for cash for themselves.
Anyone could have done that deal, you do not need to be a genius to convince insiders to get a 100%+ return on their money within a few months instead of holding debt in a worthless company with no assets and no sales.
Louis J. Desy Jr.
Good Gaming is going to be a replay of SirenGPS
Good Gaming is going to be just like SirenGPS. In the quarter earlier period the company had 'only' 571 million common shares issued. Three months later on March 31, 2015, the company had 1.922 billion shares issued, mostly related to SirenGPS.
What happened with the money for the 1,350,435,496 common shares that got issued within the space of three months and then the product got 'thrown away' (SirenGPS was written off by HDSI) a few months later?
My answer is that insiders cashed out by issuing hundreds of million of common shares to the 'muppets' and left the retail investors holding shares in a company with a worthless product; and now they are lining up again for a replay of this.
Louis J. Desy Jr.
Amended 10Q report for period ending March 31, 2015:
http://ih.advfn.com/p.php?pid=nmona&article=67131117
"Common Stock
Authorized: 2,000,000,000 common shares, with a par value of $0.001 per share Issued and outstanding: 1,922,000,000 [March 31, 2015] and 571,564,504 [Dec 31, 2014] shares, respectively"
'Painting the tape' maybe?
Louis J. Desy Jr.
"A/S is nowhere near I have stated"
That is correct. While the series B preferred have been issued, the is A/S is not high enough to be able to issue enough common shares. In order to issue the 17 billion common shares, the company will need to increase the authorized shares at some point.
I expected within a few weeks the A/S will be increased to something 20 billion shares or so.
Louis J. Desy Jr.
Amended 10Q report for period ending March 31, 2015:
http://ih.advfn.com/p.php?pid=nmona&article=67131117
"Common Stock
Authorized: 2,000,000,000 common shares, with a par value of $0.001 per share Issued and outstanding: 1,922,000,000 "
Only 85.6 million Preferred B shares issued!
This is an unbelievable opportunity. (To me this is all unbelievable because I can't believe that people are all excited about it, especially after the whole SirenGPS product has been in a sense, 'thrown into the dumpster'.)
According to the recent 8K report, the company issued 'only' 85,600,000 preferred B shares. Those shares can be converted in common shares at the rate of 200:1; so if all of those shares are converted, it would only be a little over 17 billion new common shares ( 85.6 million pre B x 200 = 17,120,000,000 new common shares ).
I wonder how the market will absorb another 17 billion common shares?
Louis J. Desy Jr.
November 10, 2015 8K report:
http://ih.advfn.com/p.php?pid=nmona&article=69251950
"wherein we agreed to purchase certain assets of CMG in consideration of issuing CMG 85,600,000 shares of our Series B Preferred stock "
Amended 10Q report for period ending March 31, 2015:
http://ih.advfn.com/p.php?pid=nmona&article=67131117
"Each Class B preferred stock is convertible into common stock of the Company at a rate of 200 shares of common stock per each Class B preferred stock."
Stock went UP today?!?!
I find it amazing that the company is openly talking about 'discussions with creditors', protests that the secured long term debt holders seem to want to take over the company, and there is speculation if they will make the Dec 15, 2015 bond payment; but the stock goes UP on all of this!
Apparently, the company guided everyone to expect worse results in advance of putting out the 10Q, so some people view it as a 'positive event'.
There is also the possibility the trading 'algo' programs are reading the headlines as positive because the headlines are like 'company beat expectations' and could be causing some of the buying. (If this is the case, someone might want to take a look at how those programs work, since they clearly are getting 'faked out' on what they are doing.)
Louis J. Desy Jr.
Worth holding with news like this? No.
10Q report for period ending September 30, 2015:
http://ih.advfn.com/p.php?pid=nmona&article=69225417
I took a look at the latest 10Q report. The company had a huge loss, $2B. It looks like it is all over for the company.
Stockholders equity is negative $605 million and the company is losing money every quarter. There is no way for them to get out of this. I am expecting a bankruptcy filing any day. I do not think they can make it to next month since I expect their trade vendors will cut them off any day since it looks like the unsecured creditors are going to get zero when they file.
When that happens I expected the following:
1: The common shares will be wiped out because the company is so far 'in the hole' that there is nothing left for the common shares.
2: The payables will be wiped out also. There are $459 in current liabilities that gets consumed by the $605 million negative on the balance sheet. That still leaves $146 million that the long term debt would take a hit on.
3: At note 11, Debt and Financing Arrangements; there is $46 million in other that would be wiped out. That leave $192 million that would go against the $1B in 7.25% senior notes due 2021 at par, wiping out 10% of the issue.
4: The remaining long term debt will become the new shareholders in NewCo with all of the classes fighting as to how much of the equity they each would get or some classes will get converted into debt with NewCo.
5: It looks like the mines are almost worthless with coal prices this low. If you take out the effects of the asset impairments each quarter, and the losses from Patriot Coal filing for bankruptcy, the company makes almost no money. That is what the almost $5B in debt will be fighting over in the Chapter 11 reogranization.
Louis J. Desy Jr.
I missed that part, SirenGPS has no value.
But yeah, now they openly admit that SirenGPS had no value!
I expect it will be a matter of months before the same disclosure is made about Good Gaming.
Louis J. Desy Jr.
Good Gaming is a 'hot' property?
Good Gaming is such a 'hot' property, that instead of being sold to another company for cash, they instead happen to end up here, in a company with virtually no assets, no sales, no employees, delinquent on their reporting, and a stock that was at $0.0001 and not trading many days?
I find it hard to believe that there is any real value with Good Gaming,and expect it will be a repeat of SirenGPS; i.e. 1: Get something that you can tell a good story with. 2: Put out a lot of PR and hope no one reads the filings. 3: Use Preferred or CD as a printing press to issue stock to the retail investors who rush in and beg to get the 'great opportunity' to buy shares. 4: Keep issuing shares until the stock can't trade anymore because everyone is trying to get out of the stock.
Louis J. Desy Jr.
Round 2 begins
I just can't believe that anyone who was present for round 1 would take part in round 2.
Louis J. Desy Jr.
Does not look like a buyout
It looks like Good Gaming Inc is being spun out of another company and HDSI will acquire them, and then change its name.
I expect that Good Gaming Inc has almost nothing in the way of business, assets or revenue. the parent company of Good Gaming Inc. (CMGO) only had $169K in total assets as of quarter ending June 30, 2015 and negative equity of over $1.4 million; so Good Gaming was apparently not doing too well for them.
Louis J. Desy Jr.
Oh no, not again!
So now that the whole SirenGPS angle has played out (no revenue, no assets, no employees, etc) now they are going to acquire (with stock I bet) another new venture and heard retail investors into the retail shares of the stock!
And apparently, people are lining up and begging to give their hard earned money to the company, for this 'great' opportunity.
Didn't anyone here learn ANYTHING with the whole SirenGPS ramp up and crash down?
You people are not going to fall for the same routine, are you; where there will be all kinds of press releases and the stock and volume trades up, while at the same time multiple 8K reports will disclose the issuing of hundreds of millions of shares on new common shares to the retail market; all which will go back to zero volume and $0.0001 after 3 or 4 months; and people stuck with shares in a company that has nothing!
Louis J. Desy Jr.
Maybe I am 'doing this all wrong', maybe I should 'get with the program' and duplicate the 'success' that HDSI has had in making money for the insiders/officers/directors
Doesn't this seem strange?
Except for a few more systems added, there are no reports or press releases or filings to explain the surge in volume and price. The stock has gone from dead and zero shares traded to $0.0002/$0.0003 with no information to account for why someone would start buying?
It seems to be me that someone may be 'painting the tape' or something similar because, with no new information, it does not seem reasonable that people would want to buy shares in a company that has released no new information, is not up to date on its filings, and appears to have zero revenue along with the potential of all kinds of additional common shares expected to be issued at any point.
Louis J. Desy Jr.
It looks almost all of the applications are a lie
I just read one of the other reports about the company. It is clear that without constructing a large antenna, that would be able to cover the BEA for the 20% coverage required for the FCC licenses, that the applications are mostly all a lie.
While the technology can use multiple small antennas, the applications mostly use one point and show it as having a coverage for 30 or 40 miles in order to get the 20% of the BEA required for the license. In order to get that without the horizon stopping the signal, the antenna would have to be 60 or 70 feet off of the ground; but google street view shows nothing that high in the areas.
It is clear that the applications to get the licenses were all a lie. Except for one or two systems at offices they have, I doubt they even have any equipment at any other location that they have a license for.
I am expecting that the FCC will pull all of their licenses once they verify that they were lied to on the applications.
Louis J. Desy Jr.
Were the systems built?
I just listened to the conference call. Unless I missed something, they did NOT address the question as to if they built the systems that they are supposed to have done. Even stranger, no one asked that in the Q&A period.
Most of the conference call of November 2, 2015 seemed to concentrate more on if 5G will work or not with nothing about the systems that were supposed to have been built so far.
Louis J. Desy Jr.
Delisting may never happen
That is true. The SEC may never get around to delisting the shares. The problem is why would anyone want to buy shares in a company that appears to have no assets, does no reporting, its corporate charter expired, the majority of the shares are owned by someone who will not allow anyone to see what happened to the assets (and is in jail), and could be delisted any day?
Louis J. Desy Jr.
Process and timeline for delisting shares
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=117954302
This was an earlier posting. In general, there is no definite timeline to delist a company, but usually after there is no reporting for two or three years after being asked for information, the SEC will delist the company stock.
It also appears that the SEC will delist stocks in groups at a time.
The short answer is that a delisting could come at any time because of the amount of time that has passed without any filings being done, the company registration expired, and the fact that OOAG was use in at least one stock manipulation in the past.
Louis J. Desy Jr.
Stopping Hostile Takeovers?
I think a better defense against a hostile take over would be the fact that revenue is less than $4,000 per quarter and appears to be declining. In many area of the country, a person could make that amount of money working at minimum wage.
Why would anyone 'fight' to take over a company that has hardly any revenue?
And if by some chance, someone did want to buy the company, I would expect the shareholders (common and preferred) would jump at the chance to sell out.
Louis J. Desy Jr.
Covering the short for one more penny
The reason someone would hang around for a few more months is not for the penny, it would be to push off the taxes owed on the trade into tax year 2016.
I would expect that no one who was short would want to close the trade in tax year 2015, unless they had some very specific tax reason to do so. (An example would be that the person expects much higher income for tax year 2016, so they want to claim the profit on the trade in tax year 2015 and get a lower tax rate on the trade.)
There is also the VERY SMALL possibility that if someone does file an appeal after the plan confirmation, that maybe the stock could keep trading until calendar year 2017. I do not think this is at all likely, but waiting until the shares are canceled and delisted makes it at least possible.
Playing a short cover rally is very risky and I have no objection to people who are trading on that, AND KNOW WHAT THEY ARE DOING, from doing the trade. The problem is that some misguided people, who think the stock/company is 'recovering' and get caught up in it.
Louis J. Desy Jr.
Shorts do NOT need to buy to cover their position
Since we know when the confirmation hearing is, Jan 25, 2016; and we know that the order entering the effective date will be two weeks later at most on Feb 9, 2016; there is no need for any short to cover the position by buying the stock.
Anyone short the stock just has to wait for the Feb 2016 cancellation and delisting that will close the short position.
The only reason for the stock to rise now is because people do not understand the process and think that the stock is somehow 'going to recover' and bid the price up with this error in how the bankruptcy process, works and what the common shares represent in that process.
Louis J. Desy Jr.
Stock should be cancelled and delisted by February 9, 2016
If the court holds the confirmation hearing on January 25, 2016; then the court will probably enter an order confirming the plan and the effective date on or before February 9, 2016. (The court has to wait to see if anyone files for an appeal.) Once the the order is issued by the court confirming the plan, the stock will stop trading and the shares will be delisted.
If the order is entered in the middle of the day, the shares will be halted, cancelled, and never trade again.
If the order is entered outside of normal trading hours, the stock will not open and a notice will appear on the NASDAQ system about the shares being delisted and canceled.
While the company will continue on as reorganized, the old common shares (ZQKAQ) will have no ownership or interest in the reformed company.
Louis J. Desy Jr.