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no they could be trying to control the stock. They backed off the ask and chased on the bid.
We still can hear some more news before the 31st.
For who that is the big question :)
Level 2 has been acting really funny since this "PR" came out last week.... Watch PERT chase the bid is interesting... Someone out there is in accumulation mode over the last 1 week eating up shares.
Pert on the bid and ask...Does anyone think pert is just shorting this?
Been busy doing work.
I will spend some time in the am. Sure does sound like out stock
Wow great find lol
Emanuel Krassenstein ?@ekrasen
www.unicornmedia.com/ powers Kazaa music
http://twitter.com/#!/ekrasen
In case class action does happen, these guys have been thru it before and just recently.
http://www.tag-itclassactionsettlement.com/PDFs/NoticeofPendencyandProposedSettlementofClassActionandSettlementHearing.pdf
NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION AND SETTLEMENT HEARING
TO: ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED TAG-IT PACIFIC, INC. (NOW KNOWN AS TALON INTERNATIONAL,
INC.) (“TAG-IT”) COMMON STOCK ON THE OPEN MARKET DURING THE PERIOD BETWEEN MARCH 28, 2003 AND AUGUST 22, 2005,
INCLUSIVE (“CLASS PERIOD”) AND WHO WERE DAMAGED THEREBY (the “CLASS”)
• The Settlement resolves the above-captioned lawsuit (the “Litigation”). The Litigation concerns allegations that investors purchased or
acquired Tag-It common stock at allegedly artificially inflated prices on the stock market as a result of Defendants’ dissemination of
allegedly materially false and misleading statements about, among other things, the loss of its two largest customers, and inventory and
accounts receivables problems. Defendants have expressly denied and continue to deny all allegations of wrongdoing or liability
whatsoever, and believe they complied with all applicable laws.
• The Settlement provides for a fund of five million seven hundred fifty thousand dollars ($5,750,000) plus interest earned (“Settlement
Fund”) for the benefit of class members who purchased or acquired Tag-It common stock during the Class Period on the open market.
http://www.unicornmedia.com/
do some dd on this company folks
used to be the CFO long ago
Chief Financial Officer
Atrinsic, Inc.
Public Company; 51-200 employees; ATRN; Online Media industry
February 2007 – September 2011 (4 years 8 months) Greater New York City Area
Atrinsic's business is focused on two segments: (1) the Kazaa digital music subscription business, and (2) Search and affiliate marketing, built around the Atrinsic Interactive brand. Based on a recurring-revenue business model, Atrinsic's subscription service is focused on digital music in the rapidly growing mobile space, and its lead offering, the Kazaa digital music service, is a relevant and recognizable brand in the space.
At the same time the talks were revolving around the "agency" part of the business.
There is some erroneous information being shared on ihub and here. So I pulled the below quote from the last 10Q for 2011. You will see there are only 2 areas of business. Pay particular attention to this: "The Subscription Services segment derives revenue from monthly subscription services consisting of music content and other services. The Transactional Services segment derives revenue from the development and management of search engine marketing campaigns for third party advertising clients." This is Atrinsic's business - 2 segments. Kazaa is the Subscription Services segment; Transactional Services segment is the Search marketing agency business.
This will rule out some of the speculation. However, there is still much to speculate!
"Starting in 2011, the Company has begun segmenting operating results into two segments: Consumer Subscription Services and Transactional Services. This change was precipitated by the fact that effective January 1, 2011, the Company’s Chief Operating Decision Maker (“CODM”) began to review the operating results in assessing performance and allocating resources in a manner based upon the operations of these separate segments. This change in approach was caused by changes in the structure of the organization due to the restructuring of the Company that took place in the second half of 2010 and was completed at year end. During this restructuring, the Company closed its unprofitable lead generation business. As a result of this, beginning in 2011, the Company purchases media separately for each business segment and no longer looks at this purchase as a fungible transaction between the segments. Additionally, due to the restructuring and turnover among executive personnel, the members of the Company’s management making up the CODM function changed in 2011.
The Company’s CODM reviews the revenue (as it had in previous periods), operating expenses and operating income (loss) information for each of the reportable segments.
The Subscription Services segment derives revenue from monthly subscription services consisting of music content and other services. The Transactional Services segment derives revenue from the development and management of search engine marketing campaigns for third party advertising clients.
Segment operating income (loss) includes allocations of “Cost of media-3rd party,” as well as allocations of “Product and distribution,” and “Selling and marketing.” There are no internal revenue transactions between the Company’s reporting segments and the Company does not identify or allocate its assets by reportable segment since assets are not a measure used by our CODM function.
The Company does not allocate Administrative Overhead expenditures such as rent, insurance, technology costs and compensation for certain corporate employees such as finance, human resources, information technology and executive staff members. These are analyzed by the Company’s CODM separate from the Subscription Service and Transactional Service operating segments.
The Company’s accounting policies are discussed in more detail in the Company’s Annual Report on Form 10-K, under the heading, Note 2 – Summary of Significant Accounting Policies.
Credit to
bluebird from Dr.p's board.
the company was trying to sell off part of the business it no longer needs and the part that is not bringing in the money.
there dark period is because of merger talks out DD was right on, you never know they might start reporting again if they continue to go on as business as usual. time will tell.