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Maybe some news soon?
Just added some more in the low .008s this morning.
Time will tell.
I believe my first purchases began in late February or early March. I knew about the amount of shares as the total shares outstanding was reported. I was aware (at the time) that several hundred million shares had already been purchased by small investors when past management did the dilution and shareholders came in a picked up those shares at very low prices. My first few purchases were relatively small - just a few hundred thousand shares. Any time management does a large dilution like that, they either need the money to line their own pockets, pay creditors, or both. Those creditors normally sell off their shares very quickly which is why those buying shares in December, 2012 and early 2013 were able to buy so many shares at a very low price.
I began buying more heavily in April when it was announced that Rick Garson was appointed CEO and President. Those larger purchases continued when Victor and Saul were brought on. I have made recent purchases too.
In regards to Messi and Friends, it was apparent that MPIX was playing a very minor role. I cautioned those who thought otherwise (on another board) that MPIX was not going to receive any of the gate and once it was made public that ESPN had the TV rights, I assumed MPIX would not see any revenue at all. Disappointing, but projects like these take a lot of time to make happen and Rick's team was not in place long enough to produce any kind of revenue package. Branding was the most MPIX was going to realize.
The music library was a joke. If it had been worth anything at all, the old management team would not have had to create all those shares as the company would have been generating income. It must have become obvious to Rick and Victor that the music library was worthless and to their credit, admitted so.
On paper, I have made a lot of money with MPIX but I believe the real money is yet to come. Victor and Saul have been doing a lot of traveling and holding a lot of business meetings. It is my hope that in the months to come, we will see some real deals take place and MPIX will begin generating revenues.
MPIX is a penny stock. Things can go wrong but I am willing to give the new management team a chance. If I am right, new investors can make many thousands of dollars and some of us a lot more than that.
MPIX is a very small portion of my overall portfolio. Hopefully others who speculate in MPIX or any low price stock are doing so with money they can afford to lose. These stocks are high risk with a chance of a high reward.
That is as honest as I can be.
Thank you.
You are 100% correct. Share price of any traded company large or small can be overly optimistic or have no confidence in the company's future. Sometimes fundamentals matter and sometimes they do not. When it comes to penny stocks, short term share price normally has no correlation to fundamentals.
Penny stocks are for gamblers and speculators. You do your best to find a management team and product you can believe in. You can be greatly rewarded or lose some or all of your investment.
I have been speculating in penny stocks for more than 30 years. Some winners and some losers. You can throw out how many outstanding shares there are, how much revenue is being generated, and all the fundamentals when trying to come up with a penny stock's share price. The share price will move up on the story and potential of the company. Most are shooting stars that shine bright for a short time and then fade away.
MPIX is interesting. The last management team ran it like most penny stocks are run. Supposedly a great product but when unmasked, they had nothing. They hyped it for their own gain and left shareholders licking their wounds when the dilution began.
Yes, the new management has a shell of a company with over a billion shares outstanding. Whether you believe it or not, to their credit, they are working on reducing the number of shares. They have stripped out the last of the so called assets the previous management bragged about and are left with a relatively clean slate. I believe the new management sees the shell as an inexpensive way to start up a publicly traded company. They have their own ideas, contacts, and game plan on making MPIX a successful enterprise.
Hundreds of millions of shares have been purchased by everyday investors over the past several months. These individuals are not insiders but regular people who plan on giving the new management a chance. MPIX might as well change its name as it is not the same company it was a few months ago.
I do not have a crystal ball but if management delivers on just a few revenue producing events, share price will jump and percentage wise, jump nicely. Once revenue comes in, MPIX will become a viable company with more than a story. Eventually fundamentals will matter and we will then judge management on how they use those revenues. In the meantime, investors can take profits when they like and let the rest ride as they watch to see how the new management changes the direction of MPIX and does their best to make it a going concern.
I think we can all agree that past management made a lot of mistakes, bad decisions, self-serving decisions, and ran MPIX into the ground. It is now up to the new management to turn things around. I do not blame anyone for bashing the old management but believe it is way to premature to bash the new team.
Give them a few months to see if they begin to deliver on the revenue producing ventures they have been working on. Wait and see if they run MPIX like a true company and not for their own personal gain.
Should they deliver, it will not take much to push up the share price several cents and possibly over 10 cents (even with the number of outstanding shares MPIX has). A move to just 10 cents will give even the most recent investors a 600 to 800% gain. For those in at sub-penny levels, an almost unbelievable gain.
I was not around in 2012 so I have no idea if the former management paid promotion companies or websites to push MPIX. The new management team has not. The several hundred million shares that have been purchased over the past 8 months have been by individuals who believe in the new management. These shares were not purchased because of hype by a promoter.
These purchases have pushed the share price up.
I agree with you.
Although I do not think a R/S will happen, I have no problem with it. Share price will be determined not by what is said but by the actions of management in regards to the new ventures they roll out.
No new shares will be created/sold once revenues start to come in. While the new management has been cleaning up the mess, they have been actively working on the new ventures. Victor and Saul have been traveling non-stop working on the deals.
Yes, the old management team has a good number of shares but will not be selling en masse due to the 5 million share per month agreement they agreed to. This will give the management team plenty of time to have the revenue producing events take place. 5 million shares per month will easily be purchased by investors as the good news comes out.
MPIX can be considered a new company as it rolls out new ventures.
All penny stocks are speculative and people should invest with money they can afford to lose. On occasion, a penny stock will have a viable product and show spectacular gains. Most speculating with MPIX are doing so because we believe the new management will come through.
The market cap is ahead of itself but that is to be expected and is the case with many low price stocks. Share price is determined by fundamentals but also on expectations. Should the new management team come through, then the $10 million in market cap will be a fraction of the new market cap.
The new management team has not hired any group do "pump" the company. If anything, they have been very quiet in regards to hype. Even their own press releases come late in the trading day versus early in the morning when they could receive more visibility. They have spent the past several months cleaning house while working on revenue producing projects.
Just a matter of time before those projects are announced. You are welcome to continue thinking that this management team will act like the former group. MPIX is now a clean shell for the new group to roll out a new company. With their skills and a share price of less than 2 cents, MPIX is a great company to speculate on with a small percentage of your portfolio dollars. Risk yes, but potentially a very high reward.
Let's see a lot of volume today and the rest of the week (with green arrows of course).
Unless changes are made, here is what the preferred will look like:
ORLANDO, Fla., Feb. 8, 2013 /PRNewswire/ -- Mindpix Corporation (OTC Pink: MPIX) today announced that the company and board has approved the exchange of Common shares by several shareholders for shares of a newly created class of Preferred Stock. These shareholders have decided to convert 400,000,000 (four hundred million) common shares to a preferred share class with voting rights and other attributes.
The Board has consented to issuing a preferred B Series Class of stock with a basis of $1.50 per share. The Board has agreed the common stockholders can exchange 100 shares of MPIX common stock for 1 share of preferred B common; which will also allow for 150 votes for each 1 share of preferred B Shares issued. The Preferred B will carry an annual dividend rate of Seven percent (7%). Interest will begin to accrue on July 1, 2013. Mindpix expects to file the designation of the preferred shortly.
Part of the Company's strategy is to maintain and create a healthy capital structure. "This conversion allows for Mindpix to continue to focus on executing its business plan as effectively and efficiently as possible," says Armando Almirall, President and CEO of MPIX
Mindpix Corporation Notes to the Consolidated Financial Statements June 30, 2013
Note 6. Commitments and Contingencies
The Company is seeking the return, from the Emax Media, Inc. and Affiliates, of 522,127,878 shares of its common stock with an aggregate grant date fair value of $3,639,488. The Company has not determined that the Emax Media, Inc. and Affiliates are still in possession of these shares, but plans to take any and all actions necessary to return these shares into treasury or obtain fair compensation for the issuance of these shares. The grant date fair value is presented as contra-equity in the deficiency section of the accompanying consolidated balance sheets.
Actually, all is good. Strong hands have picked up most of the shares. Preferred shares going to very strong hands.
The billion shares created by the old management team have been trading. 400 million shares of the outstanding shares will soon be converted to preferred shares reducing the number of common shares to 900 million plus.
The old management team may still have some shares but that number has been greatly reduced over the past 6 plus months.
The billion shares unfortunately created by the last management team hurt investors at that time but was a godsend to the many new investors who have been able to purchase millions of shares at sub-penny prices and those investors who, at the time, added to their positions at the greatly reduced share price. Much of the 1 billion shares are now held by a small number of investors. If those investors hold on, the share price will move dramatically once the news releases come out as there are few trading shares.
MPIX is not on the radar of most who invest in penny stocks. You will know that it is when tens of millions of shares are traded each day.
Money spent and shares created were done by the past management team. You can focus on the past, but I invested based on the new management team.
Picked up some more at .0152.
I have been following Victor on facebook. He has been doing a great deal of traveling and participating in a lot of meetings the past several weeks with other key members of MPIX as well as some impressive people outside of MPIX.
Victor had a dinner meeting with Ed Steinberg, Saul Federman, and Jon Blumenthal last night in NYC. Hopefully good things are on the way.
Victor at the Messi event:
https://www.facebook.com/victor.siegel.5?fref=ts
Victor visited China a few months back so my guess is China is where the initial revenues will be generated. Up until then, any of the projects they do will help with branding their name in the media and sports circles. You have to look at MPIX as a start up company. It may take a few more months before significant revenue is generated.
The share price may move a few cents before then (which would be a substantial percentage move for all of us) due to projects being announced but you will need some patience to see 10 cents or more in my opinion. Should it get to 10 cents quickly, it will be due to the fact that the large shareholders are holding on making the overall number of available shares small forcing the share price to move up without a need for the earnings to actually support the share price.
The new financials will help the new management know what they have and how to best take advantage of those assets. The movement in price from the low sub-penny range to now has been due to a tremendous amount of accumulation by those who anticipate big things down the road. The present financials are a glimpse looking back through a rearview mirror. Not important what they show but very important to have them correct as correct financials will take the handcuffs off of the new management. It will help demonstrate that the company is more than a worthless shell which will be important for new investors coming on board. Combine that with revenue producing projects and MPIX will make many investors wealthy in time.
You changed the date. The injury took place 3 weeks ago. Messi is day to day. He can play but the coach does not want to take any chances.
Sad, when someone tries to mislead others.
Only 10% down after several hundred percent up shows a lot of strength. Any profit taking is being met with buying. I am surprised that the share price has not fallen back to the 1 cent area but it seems like those with significant holdings are buying more in anticipation of additional press releases outlining income projects, share conversion, and other developments.
I will be adding on any pull-backs.
Ken
I doubt the late volume today has anything to do with Gold Rush. I think heyheyhey is on target as Guggenheim Investment Securities is purchasing for some European investors before some type of press release is made.
The next few days could be a lot of fun.
After waiting 13 years (became a shareholder in 1999 and have added a lot more recently), this may be it. Let's see how the volume is tomorrow (Friday) morning.
Ken