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Welcome to the world of sub penny stocks:)
But, with that said, hopefully the hurdles are behind us and there's nothing but open road ahead:)
Now I ask you, what good news do we know, that have already happened, that would enhance the company's efforts?
When you respond to my post without referencing someone else then I am to assume it is YOUR post.
Please reference correctly if it is not your words. Even better would be to use your own words. This is what you posted to me...
Quote:
Did you take the time to read them? Posting a bunch of links to the same story does not constitute DD or an amazing find.
That's a pretty narrow take, did you read the more succinct matters at hand here?
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A $10,000,000 financing agreement would require an S-1 filing and approval from the SEC. I doubt that will even happen. ECDC has yet to file an S-1 and LFBG probably won't bother filing one either. S-1 filings are expensive and can take months to get approved (if ever).
It is possible the whole agreement was just signed to create some hype for the stock as they try to max out the 10,000,000,000 billion authorized common shares before the inevitable, already announced and approved 1:500 Reverse split. I never could understand why investors consider these toxic debt arrangements as good for their investment. They only lead to dilution which hurts the share price. The money raised from these financing agreements is usually only used to pay company insiders and cover past due expenses - not to build future operations.
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The 8K filing does give us some important information.
First it tells us a recent share count for LFBG and points out the huge amounts of newly printed shares that have been issued lately.
As of the date hereof, the authorized capital stock of the Company consists of ten billion (10,000,000,000) shares of Common Stock, $0.001 par value per share, of which 9,279,729,778 shares were issued and outstanding as of October 4, 2011.
9,279,729,778 outstanding common shares as of October 4, 2011
According to the DEF14C statement there were
8,379,641,409 outstanding common shares as of September 23, 2011
Which was probably just copy and pasted from the 10Q for the period ending June 30, 2011 which said
8,379,641,409 outstanding common shares as of August 22, 2011
7,795,992,203 outstanding common shares as of June 30, 2011
5,366,945,531 outstanding common shares as of March 31, 2011
So in the last 6 months LFBG diluted over 3.9 billion shares
In the last 3 months LFBG diluted almost 2.5 billion shares
In the last 6 weeks LFBG diluted over 900,000,000 shares
That's some pretty disgusting dilution yet people still buy the stock ignoring all the discounted shares that are being issued to insiders through dirty debt Note arrangements and arms length consulting agreements.
The other thing the 8K tells us is that Southridge Partners II, LLP will receive 83,333,333 shares of a new series of preferred shares valued at $25,000 just for signing the agreement. Doesn't matter if the toxic financing agreement ever gets approved by the SEC or if LFBG even attempts to get it approved by filing an S-1.
(b) PREFERRED STOCK. As a condition for the execution of this Agreement by the Investor, on the Effective Date or as promptly as possible after such date, the Company shall issue to Investor 83,333,333 shares of a new series of non-voting preferred stock with a stated value equal to $25,000.00, that are convertible into shares of the Company’s common stock at any time at the option of the Investor, at a conversion price equal to $0.0003 per share.
Section 10.7
FEES AND EXPENSES. The Company agrees to pay its own expenses in connection with the preparation of this Agreement and performance of its obligations hereunder, and in accordance with Section 2.1(b) above, shall issue to the Investor 83,333,333 shares of a new series of non-voting preferred stock, with a stated value equal to $25,000, to cover its expenses in connection with the preparation of this Agreement and performance of Investor’s obligations hereunder.
Those 83,333,333 preferred shares convert into common stock at a price equal to $.0003/share. We'd have to see the actual conversion terms. Do they convert into $25,000 of common stock regardless of the stock price (meaning the higher the stock price the less common shares they can become and the lower the stock price the more common shares they become) or do they convert into common shares at a price of $.0003/share regardless of the price of the commons (which is bad because of the upcoming 1:500 reverse split).
I'm not author, why not take it up with nodummy? He will engage you without resorting to silliness.
The bigger picture is the products about to be released. Yes, there has been significant dilution...game development doesn't come for free. Six games in one year.....More than they have put out in the past 5 years combined. Yes, it's going to cost money. That's the bigger picture.
A $10,000,000 financing agreement would require an S-1 filing and approval from the SEC. I doubt that will even happen. ECDC has yet to file an S-1 and LFBG probably won't bother filing one either. S-1 filings are expensive and can take months to get approved (if ever).
A pretty narrow take is only looking for the negative and not looking at the bigger picture.
Like I said, all your different links were nothing more than 7 different spins on the same story.
Did you take the time to read them? Posting a bunch of different links to the same story does not constitute DD or an amazing find. I can find a bunch of different news links and different spins on the same news story....doesn't make it any more potent or shocking.
It is unique in the sense that it is on an as needed basis and unless I have not researched thoroughly they have not funded any other Christian video game companies.
Nice DD...but all irrelevant. Each funding deal is unique and each company is unique. You can compare all you want but it's irrelevant to LFBG.
Nothing to dissect. They are providing funding. All the details of the deal are listed in the 8K. Read it and you will have your answers.
Meanwhile they are still making deals. If the SEC/FBI had real reason for concern they would not be striking deals. I trust Troy is making the right decision for his company.
I think that considering this is a sub penny stock company trying to emerge in a niche market, with the current pps and share structure as it is, Troy had to make a decision. As you, and others have mentioned, financing in this type of market is not always easy or readily available. This company may have had some questionable practices in the past but they have dealt in over 1.7B worth of financing. The SEC would put them out of business if this were a consistent business practice. There is always a success story to every failure story and I think LFBG is going to be the success story. Troy has come too far to make a poor business decision now that will hurt the company. I think this will be a good stepping stone for LFBG's future success. Let's not forget that this company is Troy's baby....he's going make the decisions he feels is best for the company. He wouldn't make this deal if he didn't think it would be beneficial or if he thought it would hurt the company. JMO.
This is a step in the right direction. Troy knows what he is doing and will take this company to the next level with this financing.
There's no guarantee it will need the full 10M. This is on an as needed basis. Christmas season, the prime season for sales, is coming so this funding will help to go above and beyond. They have had to make due without the funding since the whole auditing fiasco and still managed to get 6 games ready for the season. We don't know how much of this funding will actually be needed but it is nice to know it's available.
Wow! You got all that from the 8K? I know it was chock full of information but you must have had a couple of extra pages in your version!!
Southridge Partners II Enters Into A $10 Million Equity Purchase Agreement With Left Behind Games Inc.
October 06, 2011
RIDGEFIELD, CT, October 06, 2011 – Stephen Hicks, Managing Member of Southridge, announced today that Southridge Partners II LP, an institutional investor, has entered into a $10 million equity purchase agreement with Left Behind Games Inc.
Left Behind Games, Inc. (OTCQB:LFBG), is a California-based leading publisher of Christian video games and a Christian social network provider. Their products are quality interactive and entertainment experiences designed to perpetuate positive values and appeal to mainstream and faith based audiences. Management believes that games and social media represent the next growth area of Christian products after the success of Christian music, books and televised programming.
Southridge seeks investments in emerging growth areas, domestically and in international markets. Southridge has successfully participated in providing over $1.7 billion in capital to companies in the United States, Asia, Canada, the United Kingdom and Australia amongst other markets.
About Southridge
Southridge is a diversified financial holding company specializing in direct investment and advisory services to small and middle market companies.
Download PDF Version
http://www.southridgellc.com/news/fund_mgt/20111006_leftbehind.html
He doesn't read them.
Trade for trade will stop the shorts but it also stops the flippers for they also will have to hold for 3 days before they can sell. That will damn near kill all trading. Volume will be nothing. There will be very little interest in the stock. Trade for trade is not the answer.
It only starts in (TYTN), that I'm aware of, as of the close of business today.
Monday, they'll start to know about any effects of it.
Then we'll know if we should find out more about it.
Will be interesting....but I would think it would slow things down, trading wise.
I'll try again...Why would you ask this question when it doesn't apply to LFBG and would not even be considered a viable option? One of the reasons we are facing a RS is liquidity issues. You want the CEO to go to a trade 4 trade system which basically means less liquidity, less volume,and lower stock price because of administrative costs and time it will take to settle each trade. I would think the CEO would have to disagree with this line of thinking.
Trade 4 Trade DOES NOT affect LFBG.
Since 2006 they've only put on 5 or 6 games in a 4 year time span. Game development is not cheap! However, this year alone they are putting out 6 games. Why can't you see that as a step in the right directions? The more games they have to sell, the more revenue that will come in.
No problem Niceguy! As far as what we've done....I know several people have called local radio stations, gone to churches, bought games as donations, etc. I, personally, have used my contacts to advertise within my area via a a local community website. I have also "liked" them on Facebook and "share" some of their promotions on my Facebook page. All about exposure.
The long run??? We're not there yet so how could we know. This company is JUST STARTING to get products out. Doubling the product line this year alone!
Isn't that the idea behind marketing??? Continuous, persistent marketing. Does coca-cola stop advertising because they think they don't need to anymore? Do cell phone companies stop advertising and offering deals because they have all the customers they need? Come on now, busines in business, marketing never stops....even for LFBG.
Geez Greedy, I thought you, of all people, would know this is precisely why companies go public. If they didn't need the money to grow the business they would stay private. Let's not forget we are talking about a penny stock company and not a blue chip monster. Judge and critique within proper context.
17 if Troy wasn't able to print his own currency to make himself and insiders money how would this company be run?
Let's get creative!
A leader paves the way. Having the largest Christian video game company in a niche market is paving the way. A leader makes the decisions that nobody else wants to make. A leader makes decisions that doesn't always make everyone happy. A leader stands up for what he believes in. Troy might not be a leader in your eyes but thankfully everyone is entitled to their own opinion.
It's called climbing the steps of a career ladder.
It has EVERYTHING to do with the company and what he is now.
Public Company CEO (2006-Present)
In an effort to raise the necessary capital to launch the first widely distributed Christian video game, Left Behind Games Inc. went public in February 2006. Although it has retained it's corporate name, the company now does business as Inspired Media Entertainment.
Designer and Publisher of the First Widely Distributed Christian Video Game (2006)
Starting in 2002, Lyndon began development of the first bid-budget, high-quality Christian video game based upon the popular LEFT BEHIND brand of novels, written by Tim LaHaye and Jerry Jenkins. The LEFT BEHIND novels have sold more than 65 million copies through publisher Tyndale House Publishers. LEFT BEHIND: Eternal Forces has gone on to sell more than 70,000 copies and has become the most widely distributed Christian video game of all time, although it was released amidst tremendous controversy.
Developer of the world's first Interactive Bible and Encyclopedia Suite (2002)
Aside from the first, iLumina has become known as the highest quality interactive Bible and encyclopedia suite ever created. Developed by a team of more than 30 developers, Lyndon was engaged with only 9 months remaining in the project schedule to manage all of the interactive programming which had not started. Beginning from scratch, Lyndon achieved this goal despite content delivery delays of more than 6 months. Innovative QuickTime VR, full-screen video animation, and a fully interactive verse-by-verse first graphical view of the New Living Translation Bible are just a few of its innovative features.
Inventor of Interactive Television Patent (2000)
Back to his developing roots, Lyndon embarked on the development of a technology to allow consumers to click on items of interest in a video stream, weather it be a fancy car or a nice sweater. This innovation has not yet been developed for mainstream interactive television, but clearly our world is moving in this direction. For more information, view a video which talks about this technology at www.multimediabible.com/ti.mov.
Executive Producer of Multimedia Development for the Jesus Film Project (1998-2003)
After reading a book by Bob Buford called Half Time, Lyndon left the video games industry for a few years to serve with the Jesus Film Project, the largest missionary organization of Campus Crusade for Christ. Originally starting by fixing computers, Lyndon was quickly moved into multimedia development by completing improvements to the Jesus Film DVD Internet Game. Shortly thereafter, Lyndon started Jesus Technologies where he completed numerous projects for Campus Crusade and other ministries, including a new version of the Missions Atlas Project, The Jesus Film CD-ROM in Arabic, the Jesus: Fact or Fiction DVD, the Jesus Film Kiosk, the Outreach CD Project, an InTouch Ministries CD-ROM and the Evangelism Toolbox CD-ROM for Campus Crusade for Christ, in association with the Billy Graham Evangelistic Association.
Spiritual Perspective Television Show Director, Producer and Host (1997-1998)
Turning his talent toward new media production, Lyndon sought to create a television talk show that would discuss current day events from a biblical perspective. Each show featured a guest Pastor or Ministry leader. 14 episodes in all were created and aired regionally in southern California. Guests included George Bryson of Calvary Chapel, Moses Vegh of Ambassador Ministries and numerous others. Computer graphics and audio production were at the highest level to be competitive. Set designs were also detailed to compete with high-quality studio backdrops similar to other popular talk shows including Larry King and David Letterman.