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"On November 8, 2017, our Board of Directors and stockholders holding 6,798,033,108 shares of Common Stock, representing 52% of our outstanding voting stock ..."
I mentioned on an earlier post how, though a lot of shares were bought (many held by people on this board), still it's not enough to have an impact on voting for Company business, since the Board of Directors hold 52%.
Unfortunately the transfer agent is gagged, because I would like to know how many Board members there are (I was under the impression there were three), who they are, and how many shares each are holding. It's probably just a mute point and has no bearing in the big scheme of things. But, I wonder if that huge share allotment of 1.750bil shares used for employees, consultants, etc., for incentive purposes, is what put them over for that 52% hump?
Hoping for good news and better and more responsible management decisions in '18.
Someone bought/sold 1mil shares @ .00001. Some programs don't show the 5th digit.
Yes, you're right. The main purpose of a share buy-back is to improve the SS and, coupled with good revs/profits, usually results in an uptrend in the PPS.
There is no buy-back during a R/S, because the RS in itself "improves" the SS. If approved, after this R/S, the OS will be 4,386,950 shares ... no need for a buy-back.
Actually, that SS would be pretty good. If MMEG turns this ship around, and adds, say an additional 30-40mil shares in dilutive shares for growth purposes and starts generating $$$ (all coupled with securing long-term financing to restructure debt and end dilution from old note holders, there's still a lot of shares ready to dilute still in their hands) then perhaps we navigated through our "darkest hour."
But, for now, shareholders are taking it in their shorts.
In their last 8-k:
"On November 8, 2017, our Board of Directors and stockholders holding 6,798,033,108 shares of Common Stock, representing 52% of our outstanding voting stock..."
So they hold a majority for voting purposes -- so in a sense we are at their mercy. And at looking at past practices and decision making, I am not optimistic anymore ... but, still hopeful (I have no choice).
GLTUA!
Well, they'll have a lot of room to do that --- if the R/S is approved, the new OS will be about 4,386,950 shares, and the AS would be 850mil shares ... a lot of room for issuing shares.
But, the company got a dose of reality. In the past, an announcement re: an acquisition or a LOI to acquire would generate a lot of interest and days of 100s of millions of shares traded. As we have seen with the last two announcements of the LOI for the Skin Scientific Co & the fitness supplement product, volume has been either non-existent or a paltry amount is traded.
So now it's another lesson in Supply & Demand ... when you oversupply with shares, and time passes and revs & profits do not significantly improve, but you still want to acquire (I assume with shares), eventually you will lose the demand.
Sure, there will be fewer newly issued notes at .25 than would be at a "trips" (.0001) price, but if no one is interested in buying --- it ain't gonna matter.
I don't know, I'm not too optimistic about news --- I used to be. It'll probably be the quarterly audio investor update.
With the OS at 4,386,950 shares, I would've been a bit more comfortable if the AS was at, say, 50mill shares. That 850mill shares just does not bode well.
I was able to bring my "breakeven" down to .0004. Now, after the RS, it'll be $1!
Post split, the PPS should be .25. If news is good, they secure financing, END dilution --- maybe.
GLTA!
Geezzzuss!! This will translate to roughly 4,386,950 OS .... a 3,624,950 float and the AS is 850,000,000 shares?!
I don't want to jump the gun, and this is just as assumption, but it looks like they're going to raise the OS again.
I was comfortable with my initial investment here, if I lost, I lost. But now -- I'm thinking about the money I rotated out of other plays and into this to average down during the Summer and Fall --- wow. I am such a boob.
I actually thought this was one of the few exceptions in the OTC.
Who knows, things could turn around and work out. Well, I'm still hoping for that.
Ooops, Pirate beat me to it .... Yup, per their last 10-q. The OTC still hasn't updated the A/S and Float numbers -- they're still "April's numbers."
Until the R/S is approved: the OS is 24.950Bil shares and the float is around 9.050Bil shares (my guesstimation) - taking into account the 1.750bil shares they issued for employees and consultants last month.
If the R/S is approved: 850mil AS, about 365.8mil OS, and around 305mil float.
BTW, business entity fee has been paid and MMEG is "valid" with NV SOS
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=Hl5NakkHa2WAYIQE7gyj2A%253d%253d&nt7=0
Well, in the absence of information from the Company, we can only speculate (guess) what's happening. This is my guess (pure speculation):
As we are [painfully] aware, MMEG used dilution for their acquisitions. The Company's ambitious plans looked good, and volume & accumulation was high. Billions of shares were bought by longs, flippers, etc. And the A/S was raised, and it seemed like a monthly affair --- but the volume supported it. We, the investors, were financing MMEG's plans. However, the last A/S raise to close to 25bil(!) shares was basically a "punch in the gut" to shareholders. Obviously as we saw, volume started dropping, to now where it is anemic. So here we are, about 25Bil A/S and 10.9ish-Bil O/S.
I had hoped when things turned around with rev/profits, MMEG would buyback shares and get us down to 8bil O/S ... and I was prepared for a 10/1 reverse split to about 800mil O/S. That would make MMEG very attractive on paper (assuming revs/profits continued improving) for a "bigger" dog. But, as the last month progressed, my hope of the above game plan was evaporating.
Recently, Suzanne McCain's name has been associated with MMEG. As samsam noted, on McCain's facebook page, dated Oct 15:
"Working on disclosure content for a 506 (c) raise for a public company expanding through M & A."
https://www.facebook.com/SuzanneEliseMcCain
Coincidence? Could be MMEG? Maybe not, we'll see. But, IMO, if a company is trying to raise capital/funding via a 506(c), that company is going to be reviewed. And on paper, 850mil AS and approx. 650-700mil O/S looks better than 24.95Bil AS and 10.9Bil O/S.
I don't know, hopefully it works out, but it feels like an elbow to the jaw followed up that punch in the gut.
Just a wild presumption on my part.
My mistake -- thanks. I should've re-read the terms before I posted. What I remembered [incorrectly] was $1.5mil and convertible notes.
I'm sorry to hear about your wife, I hope she's getting better.
There wasn't a "released" or "announced" agency deal, she was mentioned in a post last week, I forget who first mentioned her, but her Linkedin page has this:
"Momentous Entertainment Group, Inc. (MMEG) is a social media gaming, ecommerce and digital media company that focuses on providing unique and entertaining experiences for its subscribers and members on a global scale.
The Company’s strategic expansion plans are balanced between accelerating organic growth of its existing media and gaming properties, and through the acquisition of profitable and sustainable businesses that are highly complementary to MMEG’s operations.
For professional inquiries, please contact Suzanne McCain at suzanne@momentousent.net or suzanne@themccainagency.com."
https://www.linkedin.com/in/suzannemccain
I don't know her exact role with MMEG for now, but as Fox said earlier - it's best to keep the speculation to a minimum and not jump to conclusions. Time will tell.
I certainly hope the next Audio Investor Update will be a good one ... and longer than the last one. The audio update in late Aug was a little over 7 1/2 mins, and close to half of that time was their "Safe Harbor" statement. We may possibly see it this week.
It's too bad about the Blackfox deal, but I think someone here nailed it (can't remember who it was, maybe gastric?) the heavy dilution pushed the PPS to .0001 and Blackfox's CEO didn't want to sell his company for shares, since the value of that currency has dropped to a no bid .0001.
But, the deal was made, I believe the contract was signed because the agreed upon cash portion of $1.5mil had already been transferred, and now he doesn't want to "turnover the keys."
Unless the 2 CEOs come to an understanding, this will go to court - with 2 possible outcomes: either Blackfox is found to be "in breach of contract" and deal goes through as originally planned, or Blackfox knows they're in breach, but a deal is done where the 1.5mil is returned, plus interest, plus penalty.
Just speculating, but I believe MMEG is leaning towards the latter - since a court case is going to take a lot of time -- and they want their capital (plus extra) back now. Which is how, I'm guessing, Suzanne McCain fits. They may lose their ecommerce advertising marketing "in" with Blackfox, but [coincidently] that is McCain's background . . . building ecommerce marketing & advertising for companies http://themccainagency.com. IMO, since a deal for acquiring the "turn key" ecommerce business of Blackfox is falling through, perhaps MMEG is going to organically create their own? And I'd venture it's going to cost a whole lot less than $1.5mil and billions of shares.
Now the $64 question ... when MMEG gets that money back, what's their plan?
Holding my frustrations in check & my shares tight.
Thanks Fox, same wishes to you and all on this board.
Well I appreciate your post. Most of what we look into for MMEG does not include German media. Lucky for us you do check and you're fluent in German.
Sure, the article was dated in Sept, but it was the first time I (and many here I would guess) saw it!
Thanks
Still hoping, holding, and as Fox puts it -- one of those that's "loaded to the gills."
MMEG has been diluting and acquiring at a momentous pace for a penny ticker this past year. But, they've added a ton of shares in the A/S, and we'll know next week about the OS.
But, as Advocate noted, it can be intoxicating and many investors are concerned. The sharp drop in PPS, and increasing dilution was such that shareholders were contacting MMEG for an update on plans, an explanation -- anything to re-assure.
In the Sep 19 update, we were given the lesson of "supply & demand," which investors in the OTC are familiar with because the oversupply of shares due to companies financing debt through converting shares has killed many a ticker. Granted, many were scams and had stopped filing long before. But, MMEG was comfortable giving that explanation because volume here was unreal. Huge volume in the .0008s -.0009s, .0005-.0006s, and when we hit .0001s, hundreds millions more in volume with a couple of over 1bil(!) shares traded days. The dollar volume was routinely close to or over $100k! So in the update Kurt said: "Management is hopeful that the Company will locate and secure long term capital funding needs before the close of 2017."
But, because of the high volume, and converted notes were being bought, he followed up with: "In the meantime, corporate debt will continue to be reduced through current channels."
Now volume is about done. Those who are invested here for the long-term have bought what they could, other investors averaged down to where they're comfortable. Flippers are staying away for now because the demand is such that they won't be able to unload at .0002.
So now the AS and OS has become the 500lb gorilla in the room ... or the iHub board. I hope that now they realize how serious it is, and it's time to put those consultants (and they do have a talented group) to work and to come up with a debt restructuring plan, secure long term financing, and repair this SS.
I can't believe I'm saying this, but in a way I'm glad volume has dropped, because now I believe this force MMEG to address the above & grow more responsibly.
GLTA!
Technically, great news for MMEG is great news for shareholders. But, a while back when we were sliding -- I think we were in the teens -- great news was to come out.
We had hoped it was an end to dilution, a finalized acquisition, etc. But, it was announced that the Chimera game "Rise of the Mob" got great reviews.
I mean it's good news that a vehicle the company owns is highly rated and is a potential moneymaker -- but, at the time, many of us had lost over 50% of our investment, and dilution showed no signs of abating.
All I could do was average down -- and am now at .0004. Hell, if it weren't for the .0001s, there's no way I could have reached that. But, with this epic dilution, .0004s seems so far away considering the walls we will face at .0002s & .0003s.
So now, most of us Longs are looking at our investment, which is currently 90+% down, and an increase in the AS (which in the past is followed by more notes converting).
So, "great" as in securing long term financing, consolidating debt and an end to dilution -- perhaps a completed acquisition, LOI for another, or finalize contracts for reality shows; AND accompanied by news that acknowledges this SS. I know they don't have the cash for a share buyback now, but at least it's on their radar and will be addressed when $$ flows in.
We know the Poolworks upgrade and OTT project(S) are farther down the line, so we'll be looking forward to that next year.
As opposed to "great" like: they've secured another highly regarded consultant, a new Chimera game release, etc.
Very frustrating. Tom Nelson updated: "$MMEG has great news next week."
https://twitter.com/StockAlert8/
But at this point - with the current situation, I fear what I [or we] consider to be "great," may be different than what he (or MMEG) considers to be great.
Waiting, holding, & hoping.
Same here -- the last one took us to no bid and I bought a lot of .0001s. I know I wasn't alone, many here did their part!
Not selling, done buying.
No EOD t-trades for 3 trading days in a row. Tomorrow will be a week that BMIC finally backed off and has been perched at .0007. It appears dilution is nearing its end. I don't want to say completely done yet, because I want to see how VNDM trades. Though VNDM is sitting at .0002 showing 10,000 shares - the .0002s haven't been significantly hit to venture a guess.
MMEG is now #36 on Most Read Board, and darkhorse's charts have consistently shown accumulation. Many eyes here - but big heavy buying pressure on the Ask is minimal.
We all know it will hinge on the types of news that comes out, a decent 10-q (a least better that Q2) that shows a current OS, & an audio update with good future plans.
Hoping for the above, and an end of year close @ .0004, again, hopefully.
BUT, if long term financing is secured, debt consolidated, end to future dilution, and share buyback/retirement is announced ... on top of any of Fox's catalysts ... well then, it's off to the races.
I know. I remember you since I jumped in the .0025 range in March ... and I also know - like many of us, you've been averaging down ever since. I'm sure you're holding a lot of shares.
It's not easy seeing the PPS drop like it has - it can get super frustrating and I didn't respond to any of your posts because I knew you were upset -- and I also know you didn't sell!
Things looking better now than a week ago .. hopefully things continue to improve & our patience will be rewarded.
I've been seeing this since yesterday --- .0002s were NOT painted at the close.
Example of a paint: .0001s been hitting for most of the day, for tens of millions of shares ... then 5min-1min just before the close, someone buys [let's say] 200k shares at .0002 --- at it closes at .0002. That is a paint-job.
What happened here was: tens of millions of .0001s were being sold into the Bid; with very small, isolated smattering of hits at .0002. Then, in the last HOUR, no sells (?) into the Bid of .0001s. Instead, 6 sporadic trades, totaling 6.250mi shares in that last hour ... not an EOD "last minute" paint job. Which, btw, could have been easily erased by say an EOD hit into the Bid.
Now the 9mil-ish shares bought at .0002 on Friday cannot compare to the 200mil plus sold into the Bid of .0001s -- but hey, the week ended better than it started.
Well, not really -- it's better than yesterday. The Bid appears less fragile and more .0002s were bought today than yesterday. Looking at the .0002s Ask wall is daunting, but the right kind of news should help knocking that number down.
And since the ASK is mostly retail, if there was heavy .0002s buying, many of those will simply transfer up to .0003, IMO.
Artmanic probably hasn't filled his order yet because the selling at .0001s (for now) has waned.
Well, it appears dilution done - or at least nearly done, no EOD t-trades, good volume, and #25 on Most Read Board. MMEG is primed NOW for some news!
If it's the "right kind" of news, it will help in plowing through the .0002s. And as Fox and achron have said, there are so many irons in the fire, so many catalysts to choose from.
Hoping for securing long-term financing, plus any of the catalysts.
The Q3 10-q about 3weeks away.
I don't think he meant 1000%, but one thousand-fold --- at .0002 it's .2
Yup, right now they seem content being perched at .0007. IMO, I believe they're "retail" now - and if .0002s start getting seriously hit, we will see them there.
Better that way, than they way they were before (and VNDM is now) ... on the ask as a veritable black hole.
Now that CDEL has been "taken out," we'll get a better idea regarding dilution being done or nearly done on how many hits VNDM can take --- so far, BMIC is staying put.
Well, so much for that ....
What we need today is just the right news to be released and then we can begin the trek on the long .0002s road.
Correct. Last week some were saying "it was tweeted news coming and no news came out."
And like I posted last week:
I'm with you there ...
Technically, they did deliver. Tom Nelson "tweeted" that news was going to coming out "next week." A couple of days later, MMEG tweeted: "Updates from Momentous Entertainment coming next week."
This past week an S-8 filing was released. Technically, it is news - so Nelson was right ... and it is an update, so MMEG fulfilled that part.
While waiting for the update, because of the state of affairs here, speculation began. Because MMEG has alot "coals on the fire," many thoughts were posted from finalizing acquisition(s), etc.
Personally, I was hoping they had secured long term financing and were possibly going to finally contain the dilution, fix the SS, etc.
In the S-8, they announced they were going to issue 1.750B shares in a employee benefit plan to incentivize their officers, directors, consultants, employees, etc., to "contribute to the progress of the Company." IMO, to incentivize them, I would have preferred them issue 10% of that at par value .001 - that would then provide a "built-in" incentive.
Tom now tweeted that news is to come out this coming week -- hoping for some good news.
And before any proper run can begin (hopefully the news is such it can spur something like that), BMIC & VNDM have to be done and out. Otherwise they will block and absorb the buying pressure .... like today. Aside from the t-trades, 550mil shares were bought today, which is great, but those two remained and took the hits -- whether they were big, small, or the many many medium-sized ones. Not even the 92mil share hit affected them.
The guy asked for a link, and I offered it. What's wrong with you?
Completely agree. MMEG had much less going for it last year compared to now, but they had about 240mil-ish OS. And look at their PPS during that time.
When the dilution occurred, the PPS began to drop. Now look.
I always thought MMEG would live or die based on if everything worked out and revs/profits came in. That is still true, but we might as well add tackling this SS to a more reasonable level also (and not by R/S). There are just too many shares out there circulating. Occasionally we get a peek at this on the Ask.
They're working on a lot of things now, and a lot of things need to happen. Hoping we'll all need wheelbarrows.
I know what you mean! Before, it was usually the diluters BMIC & VNDM with an occasional CSTI, CDEL ... but this past week and a half, more retail has been jumped on the Ask.
The past few months ALOT of .0001s were bought, so now - I believe - many of them want to leave and are happy "breaking even."
It's going to take [very] good news to have that heavy buying pressure return to clear out the .0001s and head into .0002s ... and tackle THAT huge wall (mostly from retail).
The accumulation for both of them is similar. Until we see the 10-q next month and know for sure we're just speculating, but IMO - I'm "guessetimating" that MMEG's OS is 7.8Bil - 8Bil shares.
In the Sept 19 Shareholder Update Kurt stated, "Management is hopeful that the Company will locate and secure long term capital funding needs before the close of 2017."
I'm hoping this news will include MMEG has secured long term financing to: consolidate all their debt (which includes current notes converting & future notes, thereby calling an end to this dilution!) with payments deferred to next year; and to help facilitate & complete acquisitions; and finally - a little $$$ extra to buyback & retire shares.
In that same update, we were given a "lesson" on supply & demand. I hope MMEG has also learned this lesson as they see their PPS pummeled to almost oblivion.
The notes were originally for operations and acquisitions. Now MMEG went "from revenue neutral to revenue positive," thanks to these acquisitions - and we the shareholders provided the financing by absorbing those shares from the converted notes -- as we saw the PPS clobbered and the value drop.
The buyback & retirement of shares would reduce "supply," hence affecting demand and having a positive result with the PPS ... AND it would show an expression of gratitude to the shareholders for their (our) patience and for demonstrating our faith by putting our hard-earned "money where our mouths are."
Well, that's what I'm hoping for anyway. But, I'll take anything positive.
What's so suspicious? I've been averaging down for months. Currently, I'm holding 2large bags. Next year I'll find out if I'm "set," or I win the OTC's Bagholder of the Year Award.
I've been here since March, you what? Since late August? Yet, your posts out pace mine close to 4-1?! And I own here and have a [big] vested interest - which explains my many posts.
I understand criticizing a company for many things, but closing in on 1000?! I think your point has been made. I wouldn't call THAT suspicious, rather, a fetish - maybe?
Thanks for the PM fox.. I saw that too. I hope it's real good - we need some [strong] good news here. Fingers-crossed.
That last hour of trading on L2 looked interesting - added another 10mil in the middle of that flurry.