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Lmfao. We gotta make a good one for Benny
Dude . That is probably one of the funniest and lost fucked up things I've read lolololol
The first part of the 250 million shares have been issued . Next week expect to see the rest.
To the tune to 15 to 20k a month?
As soon as those 250 million shares hit the market, probably this week when they are issued . We may see trips
Our 2014
TWELVE PERCENT (12%) CONVERTIBLE PROMISSORY NOTE DATED DECEMBER 30, 2013
FOR VALUE RECEIVED of the signed Settlement Agreement and Release, RED GIANT ENTERTAINMENT, INC., a Nevada corporation (hereinafter called “Borrower” or the “Company”), hereby promises to pay to AGS CAPITAL GROUP, LLC or its assigns or successors-in-interest (the “Holder”) or order, without demand, the aggregate principal amount of ONE HUNDRED FORTY-SEVEN THOUSAND THREE HUNDRED AND SEVENTY NINE DOLLARS AND FIFTY CENTS $147,379.50
On January 7, 2014, we entered into a 8% Convertible Promissory Note (the “Asher Note”) and Securities Purchase Agreement (the “Asher SPA”) with Asher in the principal amounts of $32,500. These agreements were substantially in the form of our previous agreements with Asher filed as Exhibits 4.9 and 4.10 to our Annual Report on Form 10-K filed with the SEC on December 5, 2013, and the following description of the Asher SPA and Asher Note are qualified in their entirety by reference to the full text of such exhibits.
EIGHTEEN PERCENT (18%) CONVERTIBLE PROMISSORY NOTE DATED JANUARY 8, 2014
FOR VALUE RECEIVED of the signed Settlement Agreement and Release, RED GIANT ENTERTAINMENT, INC., a Nevada corporation (hereinafter called “Borrower” or the “Company”), hereby promises to pay to AGS CAPITAL GROUP, LLC or its assigns or successors-in-interest (the “Holder”) or order, without demand, the aggregate principal amount of ONE HUNDRED FORTY-SEVEN THOUSAND THREE HUNDRED AND SEVENTY NINE DOLLARS AND FIFTY CENTS $147,379.50
On March 5, 2014, we issued a $53,000 8% convertible, redeemable note (the “LG Note”) to LG with an original issue discount covering $3,000 in LG’s legal fees in connection with the LG Note. The LG Note is due and payable on March 5, 2015, with interest payable in shares of our common stock. If we fail to repay the LG Note upon maturity, a default interest rate of 24% shall also apply from such date, or at the highest rate permitted by law. We may redeem the LG Note with a payment of 150% of the outstanding principal amount during the first 180 days of the LG Note, and are required to redeem the LG Note upon certain sales events as set forth in the LG Note.
On April 2, 2014, we received funding of the third of four $75,000 Back End Notes in the form filed as Exhibit 4.12 to our Annual Report on Form 10-K filed with the SEC on December 5, 2013. The disclosures regarding the Back End Notes contained in “Part II Item 2. Unregistered Sales of Equity Securities and Use of Proceeds” are incorporated herein by reference.
On April 28, 2014, we issued a $40,000 8% Convertible Redeemable Note to GEL (the "GEL Note") in exchange for a $40,000 Collateralized Secured Promissory Note due December 27, 2014 (contingent on our continuing to meet current information requirements of Rule 144 under the Securities Act) issued by GEL to us (the "GEL Payment Note"), bearing interest at the rate of 8% per annum and secured by a $75,000 8% convertible promissory note issued by BioNeutral, Inc. to GEL. Provided, however, we agreed that to reimburse GEL $6,000 in legal fees and due diligence fees paid by GEL.
On May 24, 2014, we entered into a Securities Purchase Agreement with LG (the "LG SPA") under which we agreed to issue two 9% convertible notes in the principal amount of $50,000 each for an aggregate principal amount of $100,000 (each a "LG Note") in exchange for (i) $50,000 in cash for the first LG Note; and (ii) for the second LG Note, a $50,000 promissory note issued by LG to us (the "LG Payment Note") due January 30, 2015 (contingent on our continuing to meet current information requirements of Rule 144 under the Securities Act)
On June 10, 2014, we issued a $50,000 12% Convertible Note (the "JSJ Note") to JSJ. The JSJ Note is due and payable on demand at a premium of 150% of the principal amount. If we fail to repay the JSJ Note on demand, a default interest rate of 10% shall also apply from such date. We may not prepay this Note.
On July 25, 2014, we issued a $100,000 22% Convertible Note (the "JSJ Note") to JSJ. The JSJ Note is due and payable on January 25, 2015 at a premium of 150% of the principal amount upon approval and acceptance by JSJ, with the principal balance of the note payable on demand. If we fail to repay the JSJ Note on demand, a default interest rate of 22% shall also apply from such date. We may not prepay this Note.
On August 20, 2014, we issued a $50,000 22% Convertible Note (the "JSJ Note") to JSJ. The JSJ Note is due and payable on February 20, 2015 at a premium of 150% of the principal amount upon approval and acceptance by JSJ, with the principal balance of the note payable on demand. If we fail to repay the JSJ Note on demand, a default interest rate of 22% shall also apply from such date. We may not prepay this Note.
Your stuck in your idea and refuse to admit tha we are not self sustaining (idk where we would get the 15-20k per month needed to be self sustaining ) and you keep spouting about factoring but don't seem I understand how a service industry works and/or what an accounts receivable really is.
My argument has been since last week that if we are going to factor anything it would be the fcbd revs. Which we determined long ago would be about 20 percent, if not more, than one week of the full gsl would be. 200k is nothing to scoff about and is not little revs.
Fcbd was part of the giant size line
Exactly . Why wasn't it there ? Cause we can't bill for a service we didn't provide
Im basing this off information from the guy who is in charge of advertising on all the screens around time square in NYC.
100 percent agree, if the terms are net 90 and the products are on the shelves yes.
But would u still feel the same way if i told you I owned a cleaning service, and we have a contract to clean the corporate building of say, LEGO, for the next year. My contract doesnt begin until november, and ive never cleaned on such a scale, but I want a loan for the entire contract price. What would you say?
When you are purchasing a product yes. Do you do the same when u get a haircut? how about a landscaper? Not in service based industries. Theres a reason we didnt have an accounts receivable on the last report,even though based on what we were told, we had some advertisers already on board. BECAUSE WE CANT BILL FOR A SERVICE WE HAVENT PROVIDED. Its not that hard of a concept to grasp.
Well my friend when the bank of coop open, you let me know!
So as a bank or lender, I come up to you and say > Sir, I was hired by a company to provide a service for them. I haven't provided it yet, But i have all intentions of doing so, Can i get a payday loan?
Well while you believe that, dont be surprised to see more notes coming thorough in sept and oct.
That was my conclusion too. I was hoping to try and fish for a little update.
NOT going to happen. Especially with advertising. We cant expect anyone to give us revenue for a service we have not yet provided.
This was a reply in reference to your answer about the SPA
And unless it's the fcbd we can factor until after the ones are on shelves. So still a few months . At this rate we will still probably see another couple notes
We still don't have a contract do we ?
Think that means the end for that app ?
http://www.companies-reviews.com/review/2887411/Elemental-Studio/
Can anyone help find more info for this company. This is the company tasked with the Last Blood mobile app from last years SDCC. Website no longer exists, neither does their facebook. Intsgram last post around march. I was going to try and contact them to get any info possible but i can no longer find much of anything.
Dude is a clown , and I may not have been one of the most ardent supporters of Benny, but the points this guy bring up are rediculus.
Based of the fcbd books the quality is actually much better than anticipated. And your out of your mind if you think printing can't be done at that price. There's a reason most of the goods on this planet are produced in China. Come on dude , we"ve all read the quarterly we know how expensive it is
to create , and there's even a per page number in the quarterly report ( if
You read it you would see) there's also time needed for printing and shipping . There's much better things for you to try and bash, just try and atleast get a bit more creative . I mean altering the Wikipedia page was an attempt , but even so only a 2/10.
Well when it was announced that Murphy report would be done the os was around 1.5. Not that it's about 2.55 I wonder what type of difference that would have. I guess since it's being held up, it's not all that independent .
8k ?
Agreed , but why would they when their companies (instrinsic, active , and glass house ) all stand to make bank , while funded with what is ultimately our money
I will back of my stance a bit , but no way the tru deal is dead by any means. We all know the future prospects are bright and our team solid . However lets be realistic. While Benny profits by his company making bank of the printing deal, we guess about how much we will profit from the deal, and the Hollywood aspirations are still years from anything concrete materializes. Can we survive that long ?
Ya just hard to see this , when you have statements (besides the ones I already posted yesterday) about bein self sustaining within a few weeks, which was preceded a couple months prior with no need for new notes both of which were followed by a heap of them. Just look at my posting of be notes from yesterday, never a break or anything . I'm assuming the 300k around the beginning of January was used to print the fcbd comics . Just followed the trend of being mislead. Idk why they can't just come out and explain everything straight forward
bennys hands must be cramping with all the notes hes been signing. I can see we whould expect much of the same in sept and oct.
TWELVE PERCENT (12%) CONVERTIBLE PROMISSORY NOTE DATED DECEMBER 30, 2013
FOR VALUE RECEIVED of the signed Settlement Agreement and Release, RED GIANT ENTERTAINMENT, INC., a Nevada corporation (hereinafter called “Borrower” or the “Company”), hereby promises to pay to AGS CAPITAL GROUP, LLC or its assigns or successors-in-interest (the “Holder”) or order, without demand, the aggregate principal amount of ONE HUNDRED FORTY-SEVEN THOUSAND THREE HUNDRED AND SEVENTY NINE DOLLARS AND FIFTY CENTS $147,379.50
On January 7, 2014, we entered into a 8% Convertible Promissory Note (the “Asher Note”) and Securities Purchase Agreement (the “Asher SPA”) with Asher in the principal amounts of $32,500. These agreements were substantially in the form of our previous agreements with Asher filed as Exhibits 4.9 and 4.10 to our Annual Report on Form 10-K filed with the SEC on December 5, 2013, and the following description of the Asher SPA and Asher Note are qualified in their entirety by reference to the full text of such exhibits.
EIGHTEEN PERCENT (18%) CONVERTIBLE PROMISSORY NOTE DATED JANUARY 8, 2014
FOR VALUE RECEIVED of the signed Settlement Agreement and Release, RED GIANT ENTERTAINMENT, INC., a Nevada corporation (hereinafter called “Borrower” or the “Company”), hereby promises to pay to AGS CAPITAL GROUP, LLC or its assigns or successors-in-interest (the “Holder”) or order, without demand, the aggregate principal amount of ONE HUNDRED FORTY-SEVEN THOUSAND THREE HUNDRED AND SEVENTY NINE DOLLARS AND FIFTY CENTS $147,379.50
On March 5, 2014, we issued a $53,000 8% convertible, redeemable note (the “LG Note”) to LG with an original issue discount covering $3,000 in LG’s legal fees in connection with the LG Note. The LG Note is due and payable on March 5, 2015, with interest payable in shares of our common stock. If we fail to repay the LG Note upon maturity, a default interest rate of 24% shall also apply from such date, or at the highest rate permitted by law. We may redeem the LG Note with a payment of 150% of the outstanding principal amount during the first 180 days of the LG Note, and are required to redeem the LG Note upon certain sales events as set forth in the LG Note.
On April 2, 2014, we received funding of the third of four $75,000 Back End Notes in the form filed as Exhibit 4.12 to our Annual Report on Form 10-K filed with the SEC on December 5, 2013. The disclosures regarding the Back End Notes contained in “Part II Item 2. Unregistered Sales of Equity Securities and Use of Proceeds” are incorporated herein by reference.
On April 28, 2014, we issued a $40,000 8% Convertible Redeemable Note to GEL (the "GEL Note") in exchange for a $40,000 Collateralized Secured Promissory Note due December 27, 2014 (contingent on our continuing to meet current information requirements of Rule 144 under the Securities Act) issued by GEL to us (the "GEL Payment Note"), bearing interest at the rate of 8% per annum and secured by a $75,000 8% convertible promissory note issued by BioNeutral, Inc. to GEL. Provided, however, we agreed that to reimburse GEL $6,000 in legal fees and due diligence fees paid by GEL.
On May 24, 2014, we entered into a Securities Purchase Agreement with LG (the "LG SPA") under which we agreed to issue two 9% convertible notes in the principal amount of $50,000 each for an aggregate principal amount of $100,000 (each a "LG Note") in exchange for (i) $50,000 in cash for the first LG Note; and (ii) for the second LG Note, a $50,000 promissory note issued by LG to us (the "LG Payment Note") due January 30, 2015 (contingent on our continuing to meet current information requirements of Rule 144 under the Securities Act)
On June 10, 2014, we issued a $50,000 12% Convertible Note (the "JSJ Note") to JSJ. The JSJ Note is due and payable on demand at a premium of 150% of the principal amount. If we fail to repay the JSJ Note on demand, a default interest rate of 10% shall also apply from such date. We may not prepay this Note.
On July 25, 2014, we issued a $100,000 22% Convertible Note (the "JSJ Note") to JSJ. The JSJ Note is due and payable on January 25, 2015 at a premium of 150% of the principal amount upon approval and acceptance by JSJ, with the principal balance of the note payable on demand. If we fail to repay the JSJ Note on demand, a default interest rate of 22% shall also apply from such date. We may not prepay this Note.
On August 20, 2014, we issued a $50,000 22% Convertible Note (the "JSJ Note") to JSJ. The JSJ Note is due and payable on February 20, 2015 at a premium of 150% of the principal amount upon approval and acceptance by JSJ, with the principal balance of the note payable on demand. If we fail to repay the JSJ Note on demand, a default interest rate of 22% shall also apply from such date. We may not prepay this Note.
People don't seem to understand that advertising is a service being payed for, and you will not get payed until you deliver (books are on the shelves). For example, the accountant i work with deals with a client (an advertiser) who deals with the all the screens surrounding times square in NYC. He was explaining to me the cost of his insurance alone is millions. His liability is so high because if his clients pay for a certain amount of screens and adds, and god forbid one screen does not work for a specific period of time, HE is liable, and therefore affects his bottom dollar.
Advertisers are not going to prepay for a service, or pay top dollar for a service that we may not be able to provide, especially considering the 10 day period tru has to terminate the deal.
As far as I'm concerned isn't there still no concrete deal or contract
On paper with bandai?
Exactly my point . We can not start factoring until after we have books in stores. The companies don't cAre if we printed the books, they care if their adds are being seen, like they should.
My argument has been in order for us to factor advertising revenue we would first have to provide the service . Hence my argument that if factoring were to begin now it would be the fcbd books.
People keep talking about factoring . Can anyone answer what the typical rate we would pay on that?
Yeah man I feel you . These statements are the ones among menu that stick out in my mind.
i had taken screen shots at the time, but its still on there dec 26 2013
LMFAO! So here is something i just noticed, according to those comments made by redg on december 26 about the s1 registration. well here ya go.
ITEM 2.04 - TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT
Under the 12% Secured Convertible Debenture (the "Debenture") we issued to WHC Capital, LLC ("WHC") on August 1, 2013, as disclosed in our Current Report on Form 8-K filed on August 19, 2013, we were required to register 300% of the principal amount of the shares into which the Debenture may be converted. Because such registration was not declared effective by the Securities and Exchange Commission by December 9, 2013, the principal amount of the Debenture has increased by 140% to $232,400.
WHC has notified us of its intention to sell the 35,000,000 shares of common stock (the "Pledged Shares") pledged by Benny R. Powell, our Chief Executive Officer, President, Chief Financial Officer, and Secretary, and a member of our Board of Directors under the Pledge and Security Agreement with WHC and Mr. Powell, to cover payment of the $232,400 plus interest.
they had already missed the boat.
I remembered the first quote was from a tesla article some time back by the obj. The second i had to dig up on facebook. I am listening to this video again and hear the same SHIT. Big news coming! In development of a video game title (same in both videos) and still have nothing to show for it. Still waiting on some of the big news.... WASH RINSE REPEAT
“There are many ways to skin the financing cat, but we weren’t looking to sell stock and stuff like that and do things that would adversely affect the company.” -Benny Powell May 07, 2013
“Quick explanation on the share authorized increase. It does NOT mean we will be issuing that number of stocks. It has to do with the necessity of finance to hold immense number of reserves for authorized shares. For instance if someone does 50K they want over 150 million shares HELD. Does not mean they will EVER convert that large number of shares, especially as stock price goes up. MOST IMPORTANTLY, this was necessary given current price to cover the equity line S1 registration, which is necessary to cover our free book line (ergo, revenue). We have no intention of ever converting the full amount authorized or anywhere near that amount.......We appreciate your continued faith and understanding along with everyone else. We have some big stuff coming and may include explaining this recent development along with the other really cool announcements in a video soon. It really is much ado about nothing in the grand scheme of things. We expect the next few weeks will prove to be big and pivotal! Onward and upward! …...No split or reverses are occurring. Increasing authorized shares does not increase number of shares issued either. It has no inherent affect on share price which is determined solely by the the number of shares and the price willing to purchase/sell determined by the market for that share. As always we suggest you speak with your broker or financial experts for further guidance. ” -RED GIANT ENTERTAINMENT DECEMBER 26, 2013