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.
Being dark isnt bad, but it isnt good either. Honestly this can go either way and NO ONE here can say with any certainty that we are going to come out ahead on this one. If next week I make a shitload of dough I wouldnt be surprised, and if next week I lose it all I wouldnt be surprised either. Not really a situation I WANTED to be in, but hey, it's better luck than Vegas.
They were promised in their contact that they would recieve a combined 235k if certain financing criteria were met by March 31, 2012 (friday). I suggest you check out their employment agreement. The certain criteria were not attached, however $10 mil in financing was one option.
I agree - Im holding. I dont want to increase my exposure, but I dont want to lose out. Wait and see.
I dont care what they sell for at this point, I just want it to be over with! LOL
DONT FORGET - Fong and goldfarb finished the deal BEFORE March 31st 2012 (by ONE day) so they are entitled to their $35,000 and $200,000 bonueses respectively. Read their employment agreements. March 31st was the drop dead date.
According to the article, shouldnt that have already been filed??
Freedompop - DYNE'S NEW BABY? Who wants to put Atrinsic's voice search marketing expertise into place?
Google FREEDOMPOP see what you get.
http://techcrunch.com/2011/12/08/meet-niklas-zennstroms-new-mysterious-free-broadband-venture-freedompop/
It may seem like a joke, but FreedomPop is apparently spearheaded by Skype, Kazaa and Rdio co-founder Niklas Zennström, and backed by his venture capital firm Atomico.
He is a Member of the Board of Skype and a Member of the Board of Atomico ,[1]
Brilliant Digital & Ken Bermeister (founder of Kazaa) are currently teamed up on a new anti-piracy ISP. I wonder if Atrinsic comes into play here??? Folks, do some digging- gonna enjoy my Fri night
http://www.warsystems.hu/hirek/professional/kazaa-founder-former-riaa-anti-piracy-head-join-forces-to-fight-piracy/
Yes - this is what Goldfarb did with Media Enterprise Group last year. Look up the story on THAT
Where do u see 350k bonus?? He is in line for a 35k bonus if he met "certian" goals tomrw.
Well see, I hope so!!!!!
Yes, but for months they were talking about the merger. Not leaving shareholders in the dark. Cant compare IMO
But Chade, they announced the Merger months before the delisting.
Although the actual process takes some time, the firm’s share price typically will decline immediately after the “going dark” announcement, since many institutions are prohibited from owning shares of firms that don’t file with the SEC or trade on the exchanges or NASDAQ
IF there is a buyout, I dont think it will be the windfall we all hope (unfortunately).
People - we now belong here. Read this!
http://investorshub.advfn.com/boards/board.aspx?board_id=7145
Good luck seeing any liquidity. Volume will be anemic from here on out.
PEOPLE READ THIS ITS NOT (NECESSARILY) DOOM AND GLOOM
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73893953
Right, and it takes 90 days for approval by the SEC
If thats the case we are frozen where we are. If you didnt sell then you better pray for a merger. Maybe years from now? Who knows. Like I said earlier, limbo.
WE WENT DARK.
You know what they say, once u go black you never go back!
yeah, why wouldnt they seek to be acquired? 40MM in revs is alot to just throw away.
No, you arent. 124 institutional investors.
Actually takes 90 days to go in effect.
NO! Read about "going dark". 124 is INSTITUTIONAL investors - (etrade, morgan stanley, etc). You and I are not counted.
Anyone else notice the holders of record decreased from 141 to 124 in the past year even though the O/S increased significantly??
"As of March 31, 2011, there were approximately 141 record holders of common stock."
"Approximate number of holders of record as of the certification or notice date: 124."
This is exactly what is happening with us.
I agree, but realize that Atrinsic really is going dark. Fact, undisputed.
http://dealpen.wordpress.com/category/going-private/
One of our participants was an executive that recently executed a going dark transaction, which resulted in an acquisition. The result was a deal that valued the company at nearly 4x what it was trading at prior to beginning the exercise.
Finally, it must be highlighted that if a company announces it is considering going dark – it needs to realize that it is telling the world that it is throwing in the towel and does not have any strategic options left to grow as a publicly-held company.
Companies have a fiduciary duty (critical Board issue) to explore any potential market transactions that would be in the best interest of shareholders and this could precipitate into an acquisition of the company (i.e., going dark, by default puts a “for-sale” sign on the company).
Recommendations:
A company should, at a minimum, take the following steps if considering going dark:
establish a special committee of its board of directors, comprised solely of independent directors, with separate legal, accounting and financial advisors, to consider all options of the company, including other transactions, such as a merger, a preceding “going private” transaction, sale of assets, sale of stock, etc., and to thoroughly analyze the effects going dark would have on the company and its shareholders;
make any such determinations sooner rather than later in the event that the Exchange Act rules are changed as recommended to count beneficial, rather than record, shareholders in order to qualify to go dark;
consider the impact going dark will have on the company’s ability to raise funds, make acquisitions, obtain financing, attract qualified employees, etc.;
carefully review all material agreements and charter document provisions for obligations to remain a public company;
keep proper records of all such proceedings;
comply with all filing and disclosure requirements with the SEC;
analyze the possibility of the shareholder base exceeding the minimum shareholder number requirements in the future;
consider announcing its intention to go dark two to eight weeks prior to filing the Form 15 and/or Form 25 in order to give shareholders time to sell their shares prior to going dark; and
consider continuing to publish the company’s audited financial statements on its website.
An issuer’s decision to “go dark” or “go private” is complex and complicated. Companies must weigh the costs and benefits of being public with the costs and benefits of being private. Although there may be important benefits to going dark, a board should carefully and thoroughly consider the decision with the advice of its legal, accounting and financial advisors.
If a compaany files a form 15 can the stock continue to be traded? are officers required to report insider transactions if they go dark?
Can we no longer buy/sell shares?
They also handled the acquisition of Kazaa
Thank you thank you thank you! As I said, EVERYONE needs to read this.
From Fong's employment agreement:
WOW INTERESTING THE COMPANY WENT BLACK THE DAY BEFORE HIS DEADLINE!!
10,000 Restricted Stock Units shall vest upon the successful completion, after the Commencement Date but on or prior to March 31, 2012, of one or more debt or equity raises by the Company in the aggregate minimum amount of $10,000,000 (including, without limitation, any amounts raised from or by current stockholders of the Company).
Notwithstanding the foregoing, if Company does not achieve the goals set forth on Exhibit A by December 31, 2011, but does achieve such goals by March 31, 2012, Executive will nonetheless be entitled to receive the full $35,000 bonus set forth therein which bonus shall be paid within thirty days of achieving such goal
http://www.sec.gov/Archives/edgar/data/1022899/000114420411064110/v239334_ex10-1.htm
Page 15. If I lived up there I would ring his doorbell.
Its public info - read his employment agreement at bottom http://www.faqs.org/sec-filings/110815/Atrinsic-Inc_10-Q/v231435_ex10-5.htm
Someone once told me "Patience Pays Off"
Chade -
2. Stockholders may bring litigation against the board of directors for, among other things, (a) breach of fiduciary duty caused by decreased liquidity and trading price resulting from “going dark,” if that in fact occurs, (b) insider trading by officers and directors on the basis of material non-public information (because no periodic reports have been filed or adequate information released), or (c) repurchases by the corporation on the basis of material non-public information.