I'm still curious as to how a substantive discussion would alleviate fears surrounding the deluge of toxic debt put on the books since Feb 10. I'm sure that we'll find out that much more toxic debt was placed on the books in Q2 2015. I would love to hear how Jake soothes the fears related to it.

Maybe the good doc has a few mil in reserve along with his friends to keep on buying at these prices. Curt Kramer and the rest of the toxic financing crew certainly hope so. Tremendous ROI for the toxic financiers if believers and dreamers have deep enough pockets.

Gollem Sax loves to do "God's work" for a "muppet" fee.


Simply buying $CALM is for suckers. Why go with low or no leverage when we've hedged risks perfectly to allow super leverage!

Western Ukraine anyway.

UCLA Health System reports patient data breach; 4.5 million may be affected

http://www.latimes.com/business/la-fi-ucla-medical-data-20150717-story.html

Seems like major data breaches are a daily occurrence now.

Lol

Wringing the neck works too. I suppose those that are squeamish would prefer to let someone else take care of the unsavory aspects.

Why rent chickens when buying them is so cheap?

As far as eggs go, it was known back in May that a temporary shortage would occur during this time. Just the way it is. A nice bonus for unaffected egg producers.

TNEN 1:500 True North Energy Corporation Common Stock

Well, the shares would be eligible get the restrictive legend removed if not registered on August 10 anyway. The shares constituted the payment, it isn't like FONU didn't deliver them on February 10. The issue is that MDNT never delivered them to shareholders as promised. Which, isn't a big deal I suppose given what has transpired. They might as well be free trading before delivering, a real pain otherwise. Why FONU waited so long to register the shares is obvious.


As to the bigger issue at hand, modifying the lease would have been a major event that would have had to be disclosed in a 8k. I don't think that it was modified nor do I think that it could have been transferred under the lease terms. Granted, I'm just an observer and the lease was opaque enough for the IDA board to do whatever they wanted to do. Still though, the question remains. Did the IDA board know that FONU acquired Moon River from Medient and, did they know that FONU did not meet the terms required to transfer without approval?

I wouldn't even bring this all up if it weren't for the interesting way that Jake characterized FONU in the IDA minutes. It is one thing for MDNT to acquire FONU, another thing entirely for FONU to acquire Moon River from Medient.

Obviously the legal team was not concerned about it, and, the IDA has not been concerned about it so, it probably is no big deal.

Still though, the IDA board has to know the fiscal reality surrounding the company. How could they not? It is public knowledge.

DBMM 1:1000 Digital Brand Media & Marketing Group, Inc. Common Stock

EFCT 1:60 EFactor Group Corp. Common Stock

FONU acquired Moon River from Medient on February 10, 2015. The transaction is complete. The shares being registered are merely on behalf of Medient, not, indicative of a closing.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10475527


How was the lease transfer possible under the initial lease terms?

It seems like a serious issue to me unless I'm really missing something important.

Did the IDA board expressly approve the lease transfer?

FONU clearly did not meet the requirements at that time. In approving the transfer, they would have known the abysmal financial condition of the acquirer. Acting like FONU was an acquisition of MDNT would be a direct violation of the lease terms I would think given that it clearly was not. Unless, I'm missing something. Perhaps the italicized paragraph would fit the bill(as if Jake or Roger have experience building a studio or paying for capital intensive project lol) but, even then, the board would have been notified of the financial realities surrounding the company.

From the original lease signed in August of 2013.

In how many years?

I'm still amazed at how the Effingham County IDA let them transition from Medient to FONU2 with nary a care.

The company that signs the deal with you fails because they can no longer write convertible debt which equates to selling discounted shares in the market and, no questions are asked? No concerns raised about the viability of the project?

It is outrageous, even for those under the spell of a dream. Taxpayers should be incensed and demanding answers from officials. However, most likely have no idea what is really going on. Perhaps even the IDA board doesn't know. One has to wonder sometimes.

So far, the amount of taxpayer $ lost has been minimal unless a major opportunity was lost due to the parcel being off the market for other industries. Thus, I imagine that they view it as little harm being done. In that sense, they are correct although, their seeming stamp of approval is usually flaunted as the reason to invest in the studio. Doing so basically equates to paying management salaries and consultant fees while primarily juicing returns for toxic financiers. In that sense, it has caused substantial harm. The Effingham County IDA has been used and, they don't even realize it.

With all that being said, I'm sure that Jake wants to build a massive studioplex. I'm sure that he would love to find the financing that makes it possible.

The ratio is approximately .0034/1.

I remain embarrassed by the incompetence of many Georgia based media outlets. Perhaps incompetence is too strong of a word to use. Many appear to not care about the facts, choosing rather to relay whatever is said without probing deeper.

Every day brings shareholders closer to the time when massive amounts of restricted shares obtain free trading status.

As long as new convertible debt is issued and salaries are paid, the show goes on.

STFU.

Thank you.

He certainly pumped HNHI with great short term success a few years ago lol.

SLRW isn't listed in the first place. A trading suspension and subsequent revocation is possible but not that probable.

SLRW is a dead shell floating around in the abyss. Nothing more, nothing less. There is no intrinsic value, nothing to base any pps valuation off of. It merely exists.

Yeah, I fail to see why it matters either.

When one believes powerful OTC short sellers are fermenting devious tactics from their Cayman Island condos, execution and clearing reality for US traded equities becomes a minor inconsequential detail I suppose.

My point is that retail transactions are occurring through CANT.

Doubtful that any so called nefarious tactics are occurring through them. I'm a little bemused that the firm is being singled out when so many other lousy firms exist. I dislike them mostly due to the lousy execution quality you receive when routed through them due to their low volume presence in the OTC marketplace.

The real pain usually comes from other sources in the OTC world and in the form of severe toxic dilution.

Confusing pure dilution for massive naked short selling has cost many penny stock dreamers, everything.

The naked short selling myth certainly has an enduring presence. It probably always will.

Fidelity routes some trades through Cantor Fitzgerald.

Other discount brokerage firms likely do the same.

4 18 19 78 please, thanks.

4 41 78 please, thanks.

Why are you surprised? .0001 is still likely higher than the "book value" for the company.

There are no real price targets for shells.

The PPS range for the last 52 weeks has been .0001-.0003. Unless someone runs it up somewhat as some have tried to do over the past month, it has no reason to be at any other price level.

Bold yet very misleading assertions as it pertains to a high "book value" do not translate into actual pps gains unless enough others buy because of it.

I wouldn't really say that Jake has been scamming anyone. People have been more than willing to hand cash to him knowing the obvious caveats. Just as they handed it to Manu before him. In reality FONU is basically in business to make money for toxic lenders. They are the true shareholders. Jake essentially runs the show for their benefit.


It is amusing that public shareholders with nothing but common shares feel like they have a real stake in FONU and the Savannah film industry. They quite literally, have basically no stake at all on a fully diluted basis.

FONU has definitely been tradable over the last month if one knew in advance that those with relatively deep pockets would triple down on the illusion for the long term. Why anyone believes that the spread matters is beyond me. Penny stock trading is not about the spread given that market makers generally represent orders versus making markets. So, where volume is occurring at is really all that matters.

It is quite befuddling to me. If one theoretically buys Curt Kramer's shares(the first tranche) at current prices, you pay $634,359 for what amounts to a direct $18,376 investment into the FONU treasury, which, has already been spent. You take a 97% haircut right away as it relates to direct FONU investment $.

That is figuring without interest of course. Granted, this note had the worst conversion terms and you are generally taking around a 50% haircut immediately for money already spent with most of the others.

Thus, equating buying FONU shares to investing in the Savannah film industry is a bit misleading. Sure, some money is being invested I suppose. Even if most of that investment goes out in the form of salaries and professional fees.

I think that we are discussing totally different issues. I am not saying that the Savannah film industry is dying, far from it. I'm not disputing the need for production equipment rentals in the region.

I suppose I'm a tiny bit confused as to why you did not purchase Applebox directly more than anything else. Why buy the desert to get a camel?

You have a maximum of 1 month to enjoy a relatively low FONU public float. Enjoy it

Less if they are able to free up shares earlier using other methods. After 1 month though, the Rule 144 shares will start hitting the market. Given the trail of convertible notes, they will constantly pound it will brief interludes and possible bounces. I have no doubt that Jake continued his borrowing spree during the 2nd quarter. The 1st quarter's bills start coming due for shareholders in August.

So, enjoy the next month.


I still haven't figured out why investing in FONU is supposed to be the equivalent of investing in the Savannah film industry. They are not the same thing, even if public officials make it seem that way. The way the state and the county presented MDNT and now FONU is disturbing as they are culpable in investor losses imo.

The answers lie in the financials, even if some would rather read headlines and dream.

Of course, as always, I hope that something magical occurs which suddenly makes the entire project viable.

Sorry, wrong halts lol.

EFGU 1:10000 Empire Film Group, Inc. Common Stock

Mildly amusing to watch for sure. He knows what he's doing and, will experience a rather expensive education over the next 6 months. Just the way it is.

I'm embarrassed that the Governor of GA (hopefully just an intern that is relaying headines ) tweeted about the company working on the largest studio project in the USA. Almost hanging my head in shame as it relates to the elected officials in this state playing along with the game no matter what the financial reality is. I never would have imagined that they would have buried their heads in the sand to this extent. No questions at all after two years of basically no results.

Too many problems on the same day to be a coincidence.

Fannie and Freddie contributed but, more to their own demise than anything else. The biggest problem had to do with the so-called removal of risk from levered balance sheets. Off balance sheet CDOs where parent entities were still holding the super senior tranches that supposedly were essentially risk free suddenly became very risky as liquidity froze up and people pulled short term funding liquidity from the repo market. Combine that with the fact that with the willingness of AIG to write relatively cheap CDS for a long time on higher rated CDOs because the risk seemed minuscule which allowed continued levering up by other buyers making the process merely repeat itself all over again.

I suppose that the Fed could be blamed in the aspect that the chase for yield inspired most of these products, along with synthetic CDO products as normal supply was unable to meet normal CDO demand.

Add it all together and you sort of have the same problem that China has I suppose. Heavy leverage dependent on short term funding with the idea that little to no risk is involved. When the proverbial run on the bank occurs in such a situation, the exit door is far smaller than is ever anticipated.

It wasn't purely a Fed inspired disaster, or a Fannie/ Freddie fiasco.

Everybody was part of the problem.

The concept that low to no risk existed in highly leveraged products turned out to be a farce. Mark to market was nice on the way up but, not so much on the way down when firms dumped for whatever they could get and short term money market/repo funding was pulled forcing even more dumping.

The real question now is, where is the next area where major leverage is employed due to a perceived lack of risk.

CYXP 1:1000 CityXpress Corp. Common Stock

If one truly believes that the PBOC will throw everything at the situation, today is probably the time to start buying the A share focused etf ASHR hand over fist while putting on FXI call spreads.

It didn't help that perception last night when the PBOC chief Zhou left the country for a visit to Russia along with President Xi.

The issue in Iceland and Greece was and is markedly different. They are different from each other for that matter. Although, the effect on the per capita populace was and is much more pronounced, I agree. I was referring specifically to general public stock market mania/panic and the speed at which it occurred.

I've read the book btw but, thanks.