Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Apparently we did ... it was this "juicy" nugget --- not from MMEG, but from Tom himself. Tues, Sept 11: "MMEG will have exciting news soon along with audited financials. Keep an eye on this one. Cheap right now.."
It seems there was some volume this week in anticipation of news, but it looks like the Tuesday tweet was the news. Looks like these new investors who've been wading in this week and today got a taste of what we're used to here.
Well, now we just wait for this exciting news, and audited financials (shareholders and the OTC have been waiting since March for those).
You've been here a long time ... GLTY
Well, on Mon Tom Nelson posted that "big news" to come this week and news regarding financials.
The 3% optimist in me is hoping that the news would be of updates on status of things in the MMEG world (Poolworks relaunch, upcoming deals, etc) along with release of the financials - getting MMEG current with the OTC. And was hoping the news would be released on Tues or Wed.
The 97% pessimist (since that's how much I'm down) in me believes if news were to come out this week, it would be at the last possible moment, after hours on a Fri. And the news would be that their new auditors are almost finished with the fins and will be "submitted shortly," and thanking shareholders for our patience.
This bagholder is pining for good meaty news and updates that translates to strong PPS movement which we haven't seen in 18mnths.
GLTA!
Well this "long" is only semi-gone & semi-broke thanks to this. I check-in every once in a while, for anything ... so far nothing. And hanging my hopes on recouping my $$$, not here, but 1 hemp play and FNMA.
We're at the end of Aug., around this time we were to get some info or update re: the bankruptcy case in Germany, in addition to the Poolworks re-launch (with possible new name). Again, so far, nothing.
MMEG has missed 3 quarterlies and 1 annual report. Sept 30th will be the end of Q3, and we can pretty much speculate another NT 10-q Late Notification will be put out.
From May 16:
"The untimely departure of our CAO caused us to file our 2017 Year End 10K and March 31 10Q late...we are working hard to get it done. We will look at future safeguards to ensure this does not occur again. We appreciate investors’ patience."
From June 25:
"Momentous Entertainment Group is diligently working with its new auditors to get its financials completed for filing. Unfortunately it has taken longer than expected to get the new firm up to speed, but we are doing everything we can to accomplish that in a timely manner."
So I am assuming the CEO has obtained the services of Flash the Sloth from Zootopia to complete the financials.
Sheesh ... shoulda woulda coulda
GL to all of you in recouping your $$.
Yes, he has been kidding with you. Though it's been amusing, his true feeling here is that MMEG is a "pos."
After what's happened here the past 14months, who could argue with that short, spot-on assessment?
Agreed... The announcement that the 10-k would be filed late was 3months ago and the notification that the 10-q would also be late was over a month ago.
I know MMEG stated: "The untimely departure of our CAO caused us to file our 2017 Year End 10K and March 31 10Q late...we are working hard to get it done."
But c'mon. What -- the prior CAO didn't even start on the report, which a new CAO would just have to complete? Which, if they're diligently working on it, would've taken ... say 3weeks?
Nope, when the heavy buying and accumulation of the diluted shares ceased, everything fell apart before our eyes.
Actually, this fell apart long before that, but many of us investors (but not all!) didn't see it.
Well, we're into June and fast approaching summer. Around this time was the time frame given for the re-launch of Poolworks. No update by Co., and still waiting for 10-k & now 10-q.
That old Cher song is going through my head, "If I can turn back time.."
Nice volume and Green. Hopefully this holds ...so far, it's been a good and steady week.
So true ...
When I got in over a year ago I seriously believed we'd be at a different place here today. Sorry about your loss, GLTY on your other investments.
You nailed it when you said "Kurt did it to shareholders"
I'm 96% down, and in it (stuck) for the long haul. I'd be happy just getting out with half my money --- that would be .50!
If I just invested 10% of what I put here now, at these prices, I'd own over 3times the shares I currently have!
For me to just break even, MMEG would have to have an epic run of biblical proportions and hit $1.00. That run would become stuff of legend here in the OTC, and all I have to show for it is breaking even ... sheesh. The early investor here certainly took it in the shorts.
I'm sure what has happened here is not lost on potential accredited investors for MMEG's 506(c) financing/investment.
Just hoping against hope.
C'mon!! It's been 3weeks since the Notification That Annual Report Will Be Submitted Late (nt 10-k) was filed. I think the deadline for a late submission, before some sort of penalty is imposed, is 15days.
Marketwatch is correct, except for the float (which should be in the high 4millions).
We won't know the exact numbers until the 10-k comes out -- hopefully next week.
Putting things in perspective: at Thurs close of .045, pre R/S, that's .000018.
I am down 95.5%
Hoping to get excited about something, doesn't have to be to be right away, but at least by Q3! Maybe Q4?
I agree with both your posts. Trust in the CEO is strained - at best. The way the stock was diluted last year was epic. Though early last year Kurt said he would not consider a R/S because of the damage it would do to the Company's value [or something like that]; the dilution was at such a such a scale (especially throughout summer and early fall), that I deduced (along with others) that a R/S had become MMEG's only option. Very irresponsible debt and share management. I was hoping a share buyback & retirement of shares would avoid that ... but a company needs cash, manageable liabilities, and solid revs for that. I don't know what I was thinking when thinking that?
The R/S occurred and I (we) got clobbered, especially at these levels ... remember, .25 = .0001.
But, the SS now is very good and tantalizing. Any substantial & real news can slingshot things North.
But, imo, it will take more than 8-ks, new acquisitions, and PRs. Too many here got burned, new & old investors alike. Simple DD and looking at the charts would support that. It's going to take good 10qs and the upcoming 10-k Annual Report would be a good start. Real revs/profits in the "quarterlies," coupled with good effort in managing debt could be the propellant for a drive North. Again, just my opinion.
Hoping for a breakeven price of $1 ... it used to be .0004.
I don't think he meant Poolworks. If they stay on schedule, the conclusion of the bankruptcy in the German court, and the Poolworks re-launch should be at the end of Q2 to early Q3.
I think the statement was referring to Neurofuse and BlackFox.
IMO.
Haha, I have - scratch that, had them. "They" were demonstrated when I bought a ton of shares last year, which I'm holding. This last R/S basically castrated me. Now, I'm in it for the long haul ... no dead cat bounce play, or any "play" for that matter.
I am currently, as you put it in an earlier post, a bagholder.
I've gone through the range of emotions here, and am entering the final acceptance phase, and am hoping to "write off" my loss here on two plays I'm currently in.
GLTY
Correct, and they've already started:
In both 8-ks released on Jan 9, aside from cash, percentage of future revs, shares were used as currency.
For Naturally Hemp:
Payment of Consideration . The Structure of the purchase price and payments is as follows:
"(a) Seller (CARSON) received 10,000 Preferred B stock in MEG that was delivered upon closing of the purchase agreement.
(b) Seller (Dunn) received 1,000 Shares of Preferred B stock in MEG that was delivered upon closing of the purchase agreement."
For Skin Scientific:
"(b) 1,175 Shares of Preferred B Stock were issued at closing."
In all cases, "each MEG Preferred B share carries voting and conversion rights equal to 1,000 shares of MEG common stock."
In total, when these shares convert [one year from now, or 6months, I don't know] -- that'll be a total of 12,175,000 shares added alone.
Add that to the OS of 5,264,340 shares, and that's what we're looking at. And, apparently, there are more acquisitions coming.
Overall, it still won't be a bad SS, not at all. However, with each acquisition and shares issued, us (the early investors) get clobbered.
My breakeven here is $1 ... even if revs/profits are good, and debt is dealt will properly - it is highly unlikely it'll reach that level. If lucky, I may get half my investment.
Desperately hoping I'm wrong and this really becomes something special.
I too am hoping it'll be substantial & "meaty" news. But, if I had to guess:
On the Mar 7 Proxy Statement (pre-14c) it said, "The Reverse Stock Split will be effectuated within ten (10) days after the mailing of this Information Statement and after the filing of: (i) the amended Articles of Incorporation with the Nevada Secretary of State with respect to the Reverse Stock Split and (ii) the certain documentation with FINRA regarding the Reverse Stock Split."
I believe the Information Statement was mailed to FINRA on or around the 7th, and it was received & filed on Mar 12 -- fast forward 10days and we have Thurs the 22nd. This may just be news of the R/S being official.
I hope & pray there's more meaningful news to follow.
I assumed that after the R/S, the PPS will also be adjusted ... to .25. But, after re-reading the statement again, I saw this:
And good luck attracting new investors here when they see what happened to "old" investors and how we've been treated --- it could happen to them.
At one point last year, in late Spring, I guesstimated that the we (on this board) held about 25% of the float ... even with some dilution which had occurred in late Winter to early Spring.
Then the dilution pollution from Summer on happened; and now from the latest Proxy Statement filed on 3/7, shows "As of the record date, the Company had 13,160,849,232 voting shares of common stock issued and outstanding ..."
Which now, I'm guessing we're holding 12%-14% of the float.
Then, after the R/S, there will be the issuance of new shares for the Naturally Hemp & Skin Scientific acquisitions [from their 2 8-ks in Jan]. After tabulating the conversion rates of "preferred" shares to common shares, we will be holding about 3%-4(at best)% of the float. Basically, shareholders were grounded & pounded here ... new investors tread carefully, since I believe post R/S - we will see PRs, 8-ks, news, etc to jumpstart this up again.
Still [desperately] holding and hoping for a turnaround (which could still happen [maaaybe?]) - and wishing good luck to us all here.
Thanks Digger, GLTY on your plays -- I started to nibble at Fannie last week ... hoping that will help me get some of my $$ back.
Well, this was the news we were bracing ourselves for (about 2days shy of when I first starting buying here last year):
100% agree!
Yup, once the volume & buying of shares dried up, so did Kurt's interest in updating shareholders. I know several shareholders have been emailing MMEG for an update, and even Fox emailed for any update on anything they're working on. We don't even have a clue on the timeframe of the R/S ... the 30day to 90day window is out the window.
Seems like the CEO's new "favorites" are the accredited investors in the private placement offering. Accredited investors are very diligent, and in their research they no doubt have perused this board (which comes up on a simple google search) and MMEG's twitter & facebook pages (along with filings, etc). Just by reading this board and the twitter page, anyone can see the frustration exhibited by shareholders (especially some creative and amusing gifs on twitter) and how they (WE!!) have been treated throughout the dilution phase and post-volume drying-up phase. I believe accredited investors are going to be pretty hesitant "jumping in on the ground floor." Can't get any more ground floor than .0001.
It is no surprise... the days of putting out an 8-k or a PR about an additional business venture under their "umbrella," and then have volume spike, are over.
Even when that info was put out, and volume came in (and sometimes it came in big) -- the PPS would just keep dropping.
Many here, yours truly too, bought to "average down" but also because we had faith of a turnaround. Unfortunately for many of us, the dilution was poorly managed and continued unabated throughout last summer into the fall. Finally, the buying dropped exponentially, until it stopped. Coincidently, sometime after, the R/S was announced; and that that felt like a "punch in the gut!"
I wonder, if that heavy buying continued ... would there even be an R/S? Would the OS now be around 16-18bil shares?
Now here we are, and 8-ks and acquisitions of new vehicles ain't "cutting it" anymore for new AND old investors. It is now all about the fundamentals. Like peon says, make some announcement regarding the R/S. When will this take effect? It's been 3months since the announcement. After the R/S the SS will be much better, at the expense of shareholders, but if the fundamentals of debt management, revs & profits, etc., are good --- then even post R/S, we may be OK.
Perhaps, if MMEG were to drop the AS to about 250-300mil, maybe that would show us they have faith in a turnaround.
On 11/29/17, a filing with the Nevada SOS was made reducing the AS from 24.950bil shares to 850mil shares.
https://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=Hl5NakkHa2WAYIQE7gyj2A%253d%253d&CorpName=MOMENTOUS+ENTERTAINMENT+GROUP+INC
During the same time, MMEG filed with FINRA for a 2500/1 Reverse Split.
We are still waiting for the split adjustment to occur.
As of the last filed share count in the 11/20/17 10-Q, the OS is 10,967,374,360 shares.
When the split takes effect, the OS will be 4,386,950 shares. Until then, we wait.
In the last two 8-ks regarding the acquisitions of Naturally Hemp and Skin Scientific --- shares (along with some percentage of future revs) were used as currency. When converted, they will be tacked onto the OS.
Just frustratingly waiting & hoping.
I don't know if it will be that soon, but I think the "coming soon" news may dovetail with the release of the 10-q for Q4 .... which should be coming out sometime this month.
Just a guess.
Yes, it is appropriately ironic. Wouldn't be surprised if ruling favors Germany, other countries will follow suit. Timing is nice.
Hoping this will be a fun summer ... we deserve it after the pummeling we got last summer --- actually, since last summer.
Thanks for the info Foxy.
Thanks for the links Fox, I've read where Europeans were unhappy with some practices of FB (& Google). Though we've become used to targeted advertising here, they're not too keen on it over there.
If the re-launch of Poolworks (under a new name I believe), in possibly Q2 -- is well planned and executed .. it may provide a viable alternative.
Of course, I am tempering my optimism considering how things transpired (debt, dilution) here ... nonetheless I am hopeful --- and hoping their upcoming "major news coming" is both meaningful & impactful.
Still waiting with fingers-crossed.
I believe the R/S will go through, and I've seen past R/S's range between 30days to 90days. Yes, this is taking quite some time -- seems longer since MMEG hasn't updated shareholders with goings-on, updates, time-frame, etc. But, for those who have been here awhile . . . when has MMEG done anything early? On-time? They've always been on the "later" end of the curve ... i.e. 10-qs, 10-ks. However, they have [eventually] always filed.
One needs to look at the last 2 8-ks, the share numbers used for those acquisitions (aside from cash, and percentage of future revs) are based on a post R/S price of .25. The Naturally Hemp deal alone, after conversion from class B stock to common - at .25 price - is $2.5mil. Can you imagine what the numbers would be at current the current price of .0001?! Even at .0004, it's 6.250Bil shares.
The dilution got away from them, and approached way too many shares at ludicrous speed.
The R/S will improve the SS, alas -- at the expense of current shareholders, long and short term alike.
Even the filed AS of 850mil shares is non-comforting! I would much have preferred an AS of say, 300mil shares.
Though my faith in the CEO's ability dropped (much like the PPS here), there still can be potential here. When the revamped Poolworks is launched (I pray it will be on schedule), the timing may be ripe - since a growing number of Europeans are growing dissatisfied with Facebook.
http://europe-v-facebook.org/EN/Get_your_Data_/get_your_data_.html
https://www.politico.eu/article/facebook-ecj-european-court-justice-max-schrems-austria-lawsuit-classaction-privacy-data-protection-max-schrems/
Though the numbers of shares we hold will be decimated by the R/S, if things do work out with Poolworks, their reality show series, and if good revs come in from their acquisitions -- and they get a handle on their debt, then we may still get some value on our "reversed" shares.
Like you all, forced to wait & still hoping; I was a long, now waiting to get my $$ back ... and that is $1 post R/S.
Until then, all we can do now is suffer through the deafening lack of info from the Company, and the occasional post from Stupidman throwing the ".25 Vegas party" in our faces, nothing like kicking a bunch of dogs when they've been run over by a truck I guess.
GLTA!
I hope they didn't take down their Facebook page because an investor asked a question or requested some (ANY!) info.
Like you, my average is .0004 too --- post R/S split, that's $1.
Fingers-crossed we get our $$ back.
I know what you mean. For now, the OTC website is not accurate.
The current AS is 850mill shares, per the Nevada SOS.
https://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=Hl5NakkHa2WAYIQE7gyj2A%253d%253d&nt7=0
The OS prior to the R/S was 10,967,374,360 shares. The R/S of 2500 to 1 brings it to 4,386,950 shares. The R/S can take anywhere from 1month to 3months -- depends on filings and proper completion of paperwork. When that happens -- the OTC website will be updated and more current.
And, from what we learned from the two recent 8-ks:
For Naturally Hemp:
Carson gets 10,00 preferred shares and Dunn gets 1,000 preferred shares. The conversion rate is 1share = to 1000 common shares(!).
After the conversion, that's and additional 11mill shares added.
For Skin Scientific:
1,175 shares of Preferred B stock was issued, at the same conversion rate ... equaling 1.175mil shares.
With just these two acquisitions, OS will be around 16,561,950 shares.
If the AS was filed for, say, 200mill shares, then we can "guessetimate" that about 100mil - 150mil shares may be issued in the future. If revs/profits are good - with this SS, then maybe things could begin to turn around. BUT, with an AS of 850mill shares -- we can [justifiably] assume many shares are going to be issued. I say assume because we haven't heard squat from MMEG regarding plans, strategy, how many shares they plan on issuing (since this issue killed the stock in the first place), etc. At least as a courtesy for shareholders, right?
I am hoping (and praying) for the Poolworks re-launch, deals, DEBT!, eCommerce, OTT, etc works out.
My goodness, we're stuck hoping & praying --- during one of the most active Bull markets in recent history .... Geezus
They haven't updated their "float" numbers in quite a while. The TA is gagged, so they're no help.
Yes, the OS is currently 10,967,374,360 shares.
My guess for the float is around 8.920Bil-ish shares (this guesstimate includes factoring in the 1.75Bil shares MMEG issued late last year to Company officers, employees, consultants, etc., for "incentive purposes")
Well, yesterday I was about to post that it appears MMEG was going "dark." Glad this came for two reasons: they're not dark, and they're still filing. Hopefully, this begins a string of news -- including news that investors (current and potentially future) need to hear (i.e. debt restructuring, securing long term financing, etc).
I'm assuming the issued shares are post R/S (though the R/S is not official with FINRA yet) numbers. So, the 10,000 Preferred B stock converts to 10mil shares of common stock, and the 1000 Preferred B stock converts to 1mil shares. Post R/S the OS is currently at 4.387mil shares. Just playing with the calculator, it's equivalent in pre R/S numbers to 25BIL shares plus 2.5Bil shares to convert.
And the rest of the financing is completed via a percentage of the revenues.
Completely agree! jhnvtjll's post was the most hopeful post I've read here in awhile.
I guess we know what needs to be tackled early:
"What's common about the two is that they both eliminated debt."
Hopefully Kurt read that post too.
What will happen here post R/S is up in the air. The only positive, the SS will be much more attractive.
BUT, just as there has been very little to no buying at .0001, there will be the same action at .25.
MMEG will have to come out will quality PRs, specifically dealing with securing long term financing, consolidating & managing debt - and if possible (depending on how much funds they were able to procure) paying off note holders . . . and of course, a plan for Revs/profits.
Remember, when there was heavy trading volume here --- at some points, there sometimes showed 1.5billion shares on the Ask at .0001. That will now change to about 600k shares that want to be sold.
The dilution got away from them, almost at "addiction" levels. I know for them to grow, they will have to do more dilution and use shares. But, if done properly (and responsibly), and revs/profits are the result, then maybe. We have to wait and see what happens, and see how the Poolworks re-launch pans out. IMO, I'd be comfortable with an OS of around 50-60mil shares, AND I would be more comfortable if the AS was at 100mil shares ... 200mil at the most. That 850mil shares scares me.
Now I [we] wait. After these tax cuts take effect in '18, especially in late Q1 and Q2, I believe the market is going to boom (again). I expected to be long and pull a portion of my investment here around this time and ride the rest. Now my money sits, just sits, and IF this works out, it won't really materialize until Q3 or Q4 '18 --- and missing out on, potentially, another Market bull run.
Just venting and of course, IMO.
Anyway, Happy (healthy & profitable) New Year and GLTA!
Just an FYI. If I read the filings correctly, the OS [only] will be effected by the R/S 2500/1 ... bringing it to 4,386,950 shares. The AS will be reduced (at approx. a 30/1 RS) from 24.95Bil shares to 850mil shares, per the Nev SOS filing.
The AS will not be dropping to 10mil shares.
Thanks Fox, Merry Christmas to you too --- enjoy your vacation.
Wow, glad you're doing well now and hoping there aren't any lingering pain issues.
Yup, the sentiment was pretty high here months ago. Now, one needs to look no further that the "My Stocks Activity for MMEG" box on the Quotes page and see the consistent amount of folks removing MMEG from "their stocks."