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Fairly new to the stock.
Haven't been around as long as you have.
Owned for a about a year. So far I've been just sitting watching & waiting.
Its not a live wire that's for sure. Pretting boring as such and will keep minitoring.
MM'ers on Standby:
These guys are waiting on the sidelines at both BID & ASK
What are they up to?
AUTO 07:30 0.00 0
EDGX 07:30 0.00 0
ARCA 09:30 0.00 0
Whenever ARCA shows up, that's not a good sign.
Market Maker Signals at Level II:
I'm LONG on the stock & have been since March.
Does anyone know what the MM'er signal 700 means?
Have been trying to figure it out for weeks.
Time & Sales Price Size Exch Time
0.03 700 OBB 10:30:47
http://www.thesubway.com/companydata.asp?qm_page=63325
It stayed at 700 all morning. Then 500K shares traded in just a few minutes.
Also, I see 800 once in a blue moon. Haven't figured out that one either.
They just threw in a 900 - What does that mean? Slow down?
Here's what I know so far:
MARKET MAKER SIGNALS
Penny traders believe that Market Makers (MM) will "signal" moves in advance buy using small amounts of buys or sells as "signals". The "signals" are such a small amount of shares (worth no more than 5 or 10 dollars) that no trader would have paid a commission that costs more than the amount of shares bought. The "signals" are from one MM to another.
100 - I need shares
200 - I need shares badly,but do not take the stock down
300 - Take the price down so I can load shares
400 - Keep trading it sideways
500 - Gap the stock. This gap can be either up or down, depending on the direction of the signal
600 – Take it back up
TIA
Charts Are Posted In I-Box:
Click Strategic Resources, LTD. (SGCR) left hand side of the header.
Then scroll up & down the I-Box page of SGCR's Message Board.
You will find lots of charts there to study the daily, weekly & monthly progress.
I'll be here tomorrow to watch it climb Back UP!
Maybe something? Please expound, I don't understand what do you mean?
Detailed Chart Showing Wm%R(14) & FastSto%K(14):
SharpChart
SharpChart:
Detailed Chart showing Wm%R(14) & FastSto%K(14)
New Detailed SharpChart:
Aroon Indicators in a Candle Glance Grouping - RSI(14)35.95 SlowSto%K(5)
Right On.
Things should be shaping up nicely by Friday.
That was me back in March who bought.
I thought we woulda bounced and been over a nickel by now.
Let's go baby go.
I'm board marked & Ready for Take-Off!
Good deal, More Volume on the Way:
That's just what we need to move this baby upward.
With MORE Volume a wall can be built which will get this bull running.
Also, found this chart yesterday.
What it tells me is good things are just around the corner.
We're coming out of the doldrums!
Detailed Chart - Shows Rally Has Begun:
How Long Will It Last, through next week?
SharpChart ADX(14) MACD(8,17,9) WM%R(14)
Could someone please post this chart in the I-Box for future use.
TIA
Charts Look'en Good:
Personally, I'd like to see a lot of volume to get her back to a nickel.
It's true, the chart shows we've bottomed & headen back up.
But, we need a lotta volume to get the bull moving.
Need something big to give this bull a push.
Tonto, Long Time No See:
After all we were the original Lone Ranger & Tonto team here at SGCR.
Eventually, it might just boil down to the 2 of us again?
Its been pretty quiet and was wondering where you've been.
Sounds like time well spent with your new venture.
Don't lose track of time, drop a line from time to time.
Good Luck With The Grand Opening!
Still Watching & Waiting.
Any day now, we're way overdue.
Ten Charts For Viewing:
Strategic Resources:
The spider chart usually updates each day.
Nice Find, Thanks For The Post!
Where's She Headed From Here?
Sounds like you know the drill.
I haven't been watching as closely as you.
Ultimately, where do you think she's headed from here?
Do you expect to see a nickel/share any time soon or at least by the end of the year?
Rally Coming Soon:
This puppy could rally next week?
Golden Cross has appeared and looking for a steady climb upward.
How Many Shares have been Diluted?
So how much do you think have been diluted recently?
Here's what I found under company information today.
I post an update every so often at the top of the I-Box to try & keep track of dilution.
If your aware of any recent dilution, please advise & provide source.
Much appreciated. I'm still holding for this puppy to take off prior to the end of the year.
Estimated Market Cap: $685,649.531 as of Oct 4, 2007
Outstanding Shares: 131,855,679 as of May 10, 2007
Number of Share Holders of Record: 350 as of Jan 16, 2007
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=sswm
Good Weekend to All:
Hey INXS,
The holidays are just around the corner.
Wouldn't it be nice to get a rally going before the end of the year.
Haven't heard from you in a while, any news or information to report?
Patience, Patience, Patience.
Cheers,
Hilander
Prudhoe Bay Alaska - Largest Oil Field in North America:
This is an interesting article to read as we sit around waiting for ATEX to rebound. Prudhoe Bay (Deadhorse) Alaska is home to the largest oil field in North America. It is located in Alaska between the coast of the Beaufort Sea and the North Slope of the Brooks Range Mountains. It is about 1200 mi. south of the North Pole and 250 mi. north of the Artic Circle. Artic drilling rigs differ from their southern counterparts in that they generally are more self contained. As is evident by the picture the rigs are enclosed to protect it and the workers from the Artic Winters. Many of the rigs can be transported from drill site to drill site without any disassembly. Many rigs have a camp house that moves with the rig to provide room and board for the workers.
Other wildlife in the area: Artic Fox, Artic Ground Squirrels, Grizzly Bears, Polar Bears, Musk OX, Artic Hares, Caribou (Approximately 25,000)and over 200 different bird and waterfowl species including geese, swans, seagulls and eagles . During the winter months only the artic fox, ravens, and the occasional polar bear are to be seen. Ice roads are built during the winter months to reduce the damage to the environment for access to remote drill sites. conditions need to be twenty below zero or less for construction thus limiting exploration drilling to the Winter months in most cases.
Full Article:
http://www.prudhoebay.com/communities_Deadhorse.htm
Check this Out Toooo Cold for Me!
http://www.prudhoebay.com/communities_Kuparuk.htm
Alan Greenspan says Iraq War Was About Oil:
Alan Greenspan on Why he Wrote That the Iraq War Was About Oil
Posted September 21, 2007 | 01:37 PM (EST)
Read More: Alan Greenspan, Alan Greenspan Book, Federal Reserve, video, Breaking News.
Charlie Rose:
I had an hour-long conversation with Alan Greenspan, the former Federal Reserve chairman. He was talking about the economy and his new memoir, The Age of Turbulence: Adventures in a New World.
Watch the entire conversation tonight on PBS or see it tomorrow on the Charlie Rose website.
Video Clip - Here is part of what he said:
http://www.huffingtonpost.com/charlie-rose/alan-greenspan-on-why-he-_b_65370.html
No, I have not joined:
I haven't joined the Berlin Stock Exchange.
I don't see any advantage of joining unless I wanna scan my stocks to see if they're being traded and I hope & pray to God they're not.
This naked shorting problem has gotten way outta hand I admit.
But I'm waiting until October 15, 2007 to see if the illimination of the grandfather clause by the SEC makes any difference.
I'm waiting & watching to see if justice will be served by the legal system.
There's not much I can do but wait and see what the outcome will be.
Time will tell.
PR Info's Good to Know About:
I appreciate you passing on the information to this board.
Every little piece of data helps us with the puzzle.
That's the problem with these stocks, they're not transparent.
So, we've got to do the best we can with the info we have.
Your posts are much appreciated & your welcome to the board anytime.
Have a good weekend!
Slow & Steady She Goes:
REF:
i think we could see another high volume when market marker try to make a wall. A good thing to buy a lot of shares in the same price.
I'm sure, someone know something. Could be a merger. I don't know but it easy to up over 100% in one day.
INXS,
That's a very insightful thought.
Whats' your crystall ball have to say, any related news yet of a joint venture or merger?
That's All Folks:
There's nothing more to say folks.
As investors we cannot always choose wisely 100% of the time.
MBAY had to close their doors due to massive MM'er abuse of a company.
IMO, this is a perfect example of how shorters & naked shorter's can destroy & kill a perfectly good company.
I have chosen to take the time to post all news releases so we can see the process other companies may go through so we can learn to recognize the symptoms of a Sick & Dying Company.
Two years ago, I wouldn't of guessed this to be the fate of the company.
MBAY's Message Board is Now Closed for Business
MediaBay, Inc. to Cease Operations:
July 11, 2007
MediaBay, Inc. to Cease Operations
CEDAR KNOLLS, N.J., July 11, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- MediaBay, Inc. (OTC Bulletin Board: MBAY.PK) announced that it has been unsuccessful in its attempt to sell the company and has no viable alternative, except to cease operations and liquidate its assets. MediaBay intends to wind down its operations in an orderly manner and seek to sell its assets at auction and distribute its remaining cash to its creditors. It is anticipated that this process will conclude by early September 2007.
SOURCE MediaBay, Inc.
MediaBay, Inc., +1-973-539-9528
http://www.mediabay.com
Files Form 15 to Deregister Common Stock with SEC:
January 19, 2007
MediaBay, Inc. Files Form 15 to Deregister Its Common Stock With the Securities and Exchange Commission
CEDAR KNOLLS, N.J., Jan. 19 /PRNewswire-FirstCall/ -- MediaBay, Inc. (MBAY) (Pink Sheets: MBAY.PK) announced that on Friday, January 12, 2007, it filed a Form 15 with the Securities and Exchange Commission to terminate the registration of the Company's common stock and suspend its reporting obligations under the Securities Exchange Act of 1934. The Company was eligible to deregister because it had fewer than 300 shareholders of record.
The Company expects that the deregistration will become effective within 90 days of filing its Form 15. As of the date of the filing of Form 15, the company's obligation to file reports under the Securities Exchange Act of 1934, including Forms 10-K, 10-Q and 8-K, was suspended.
SOURCE MediaBay, Inc.
-0- 01/19/2007
/CONTACT: Tim Clemensen, +1-212-843-9337/
/Web site: http://www.mediabay.com /
(MBAY)
CO: MediaBay, Inc.
ST: New Jersey
IN: ENT OTC
SU:
WR
-- NYF059 --
0367 01/19/2007 09:31 EST http://www.prnewswire.com
MediaBay Receives Nasdaq Staff Determination Letter:
September 15, 2006
MediaBay Receives Nasdaq Staff Determination Letter
CEDAR KNOLLS, N.J., Sept. 15 /PRNewswire-FirstCall/ -- MediaBay, Inc. (the "Company") (Nasdaq: MBAY), on September 13, 2006, received notice from The Nasdaq Stock Market indicating that the Company's common stock will be delisted from the Nasdaq Global Market on September 22, 2006, due to the Company's failure to comply with the $10,000,000 stockholders' equity requirement for continued listing on the Nasdaq Global Market set forth in Marketplace Rule 4450(a)(3). At that time, the Company expects that its common stock will trade on the NASD Over the Counter Bulletin Board.
About MediaBay Inc.
MediaBay Inc. (Nasdaq: MBAY - News) is a digital media and publishing company specializing in spoken word and premium audio entertainment. For more information on MediaBay, please visit http://www.soundsgood.com, http://www.mediabay.com, http://www.radiospirits.com and http://www.radioclassics.com.
SOURCE MediaBay, Inc.
-0- 09/15/2006
/CONTACT: Tim Clemensen, Rubenstein Investor Relations, +1-212-843-9337,
tclemensen@rubensteinir.com, for MediaBay, Inc./
/Web site: http://www.mediabay.com /
(MBAY)
CO: MediaBay, Inc.; Nasdaq Stock Market
ST: New Jersey
IN: ENT MLM PUB BKS CPR
SU:
RM
-- NYF101 --
3694 09/15/2006 16:05 EDT http://www.prnewswire.com
MediaBay Receives Nasdaq Staff Determination Letter:
August 25, 2006
MediaBay Receives Nasdaq Staff Determination Letter
CEDAR KNOLLS, N.J., Aug. 25 /PRNewswire-FirstCall/ -- MediaBay, Inc. (Nasdaq: MBAY), on August 22, 2006, MediaBay, Inc. (the "Company") received notice from The Nasdaq Stock Market indicating that, based on the Company's Form 10-Q for the quarter ended June 30, 2006, the Company does not comply with the $10,000,000 stockholders' equity requirement for continued listing on the Nasdaq Global Market set forth in Marketplace Rule 4450(a)(3).
About MediaBay Inc.
MediaBay Inc. (Nasdaq: MBAY) is a digital media and publishing company specializing in spoken word and premium audio entertainment. The company maintains a library consisting of over 75,000 hours of content, including audio books from best-selling authors and the history of American Radio. Some of MediaBay's digital content partners include BBC, Blackstone, CBS Radio, Harper Collins, Hay House, Oasis, Penguin Audio, Random House, Simon & Schuster, Sound Room, and Zondervan. In addition to its Audio Book Club, MediaBay distributes its content through proprietary web sites including audiobookclub.com, radiospirits.com and Soundsgood.com as well as through partner channels including MusicNet, Real, MSN Music, Sirius Satellite Radio and XM Satellite Radio. For more information on MediaBay, please visit http://www.soundsgood.com, http://www.mediabay.com, http://www.radiospirits.com and http://www.radioclassics.com.
Certain statements in this Form 10-Q constitute "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this report, including, without limitation, statements regarding our future financial position, business strategy, budgets, projected costs and plans and objectives of our management for future operations are forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," or "continue" or the negative thereof or variations thereon or similar terminology. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we cannot assure you that such expectations will prove to be correct. These forward looking statements involve certain known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any results, performances or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from our expectations, include, without limitation our in ability to implement our strategy, the decision to seek strategic alternatives and the risks related thereto: our history of losses and declining revenues; our ability to license and sell new spoken word content, obtain additional financing, anticipate and respond to changing customer preferences, license and produce desirable content, protect our databases and other intellectual property from unauthorized access, and collect receivables; dependence on third-party providers, suppliers and distribution channels; competition; the costs and success of our marketing strategies, product returns, member attrition; risks relating to our capital structure and the other risk factors set forth in our annual report on Form 10-K for the period ended December 31, 2005, quarterly report on Form 10-Q for the period ended June 30, 2006 and other filings with the SEC. Undue reference should not be placed on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to update any forward-looking statements.
Contacts:
Tim Clemensen
Rubenstein Investor Relations
212-843-9337
tclemensen@rubensteinir.com
SOURCE MediaBay, Inc.
-0- 08/25/2006
/CONTACT: Tim Clemensen of Rubenstein Investor Relations,
+1-212-843-9337, tclemensen@rubensteinir.com, for MediaBay, Inc./
/Web site: http://www.mediabay.com /
(MBAY)
CO: MediaBay, Inc.
ST: New Jersey
IN: CPR
SU:
JB-MV
-- NYF064 --
6447 08/25/2006 16:05 EDT http://www.prnewswire.com
MediaBay Inc. Announces 2nd Quarter 2006 Financial Results:
August 18, 2006
MediaBay Inc. Announces Second Quarter 2006 Financial Results
CEDAR KNOLLS, N.J., Aug. 18 /PRNewswire-FirstCall/ -- MediaBay, Inc. (Nasdaq: MBAY) a digital media and publishing company specializing in the marketing of spoken audio entertainment, today announced financial results for the second quarter ended June 30, 2006.
The Company reported net sales of $1.1 million for the second quarter of 2006, down from $2.3 million in the second quarter of 2005. Net loss applicable to common stockholders for the three months ended June 30, 2006 was $13.1 million, or $1.24 per diluted common share, compared to a net loss of $3.0 million, or $0.49 per diluted common share for the three months ended June 30, 2005. The three months ended June 30, 2006 results included $11.8 million in non-cash charges related to the accretion of discount on mandatory redeemable preferred stock and an impairment charge for goodwill. Net sales were $2.6 million for the six months ended June 30, 2006, down from $5.6 million for the six months ended June 30, 2005. Net loss applicable to common stockholders for the six months ended June 30, 2006 was $15.7 million, or $1.49 per diluted common share, compared to a net loss of $22.2 million, or $4.36 per diluted common share for the six months ended June 30, 2005. The six months ended June 30, 2006 results included $11.8 million in non-cash charges related to the accretion of discount on mandatory redeemable preferred stock and an impairment charge for goodwill. The six months ended June 30, 2005 reflected $18.0 million in non-cash charges related to the Company's March 2005 financing, including a deemed dividend on preferred stock for the beneficial conversion feature and a loss on early extinguishment of debt.
About MediaBay, Inc.
MediaBay Inc. (Nasdaq: MBAY - News) is a digital media and publishing company specializing in spoken word and premium audio entertainment. The company maintains a library consisting of over 75,000 hours of content, including audio books from best-selling authors and the history of American Radio. Some of MediaBay's digital content partners include BBC, Blackstone, CBS Radio, Harper Collins, Hay House, Oasis, Penguin Audio, Random House, Simon & Schuster, Sound Room, and Zondervan. In addition to its popular Audio Book Club, MediaBay distributes its content through proprietary web sites including audiobookclub.com, radiospirits.com and Soundsgood.com as well as through partner channels including MusicNet, Real, MSN Music, Sirius Satellite Radio and XM Satellite Radio. For more information on MediaBay, please visit www.soundsgood.com, www.mediabay.com, www.radiospirits.com and www.radioclassics.com.
Certain statements in this Form 10-Q constitute "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this report, including, without limitation, statements regarding our future financial position, business strategy, budgets, projected costs and plans and objectives of our management for future operations are forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," or "continue" or the negative thereof or variations thereon or similar terminology. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we cannot assure you that such expectations will prove to be correct. These forward looking statements involve certain known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any results, performances or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from our expectations, include, without limitation our in ability to implement our strategy, the decision to seek strategic alternatives and the risks related thereto: our history of losses and declining revenues; our ability to license and sell new spoken word content, obtain additional financing, anticipate and respond to changing customer preferences, license and produce desirable content, protect our databases and other intellectual property from unauthorized access, and collect receivables; dependence on third-party providers, suppliers and distribution channels; competition; the costs and success of our marketing strategies, product returns, member attrition; risks relating to our capital structure and the other risk factors set forth in our annual report on Form 10-Kfor the period ended December 31, 2005 and quarterly report on Form 10-Q for the period ended June 30, 2006 other filings with the SEC. Undue reference should not be placed on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to update any forward-looking statements.
MEDIABAY, INC.
Condensed Consolidated Balance Sheets(Dollars in thousands)
June 30, December 31,
2006 2005
(Unaudited)
Assets
Current Assets:
Cash and cash equivalents $4,007 $8,243
Accounts receivable, net of allowances
for sales returns and doubtful
accounts of $1,775 and $1,533 at June 30,
2006 and December 31, 2005, respectively 501 691
Inventory 511 763
Prepaid expenses and other current assets 533 464
Royalty advances 534 523
Total current assets 6,086 10,684
Fixed assets, net 1,568 1,785
Other intangibles, net 38 42
Goodwill 4,030 6,156
$11,722 $18,667
Liabilities and Stockholders' Deficiency
Current Liabilities:
Accounts payable and accrued expenses $3,824 $4,969
Short-term debt, net of original issue
discount of $56 at June 30, 2006 and $52 at
December 31, 2005 53 32
Preferred dividend and interest payable 582 319
Redeemable preferred stock 21,063 --
Total current liabilities (Note 6) 25,522 5,320
Long-term debt, net of original issue discount
of $79 and $111 at June 30, 2006 and
December 31, 2005, respectively 580 608
Total liabilities 26,102 5,928
Commitments and Contingencies
Preferred stock, no par value, authorized
5,000,000 shares; 200 shares of
Series B issued and outstanding at
June 30, 2006 and December 31, 2005 and
21,063 shares of Series D issued and
outstanding at June 30, 2006 and
December 31, 2005 20 11,436
Common stock; no par value, authorized
300,000,000 shares; issued and
outstanding 10,516,444 at June 30, 2006
and December 31, 2005 121,681 121,681
Contributed capital 42,637 42,637
Accumulated deficit (178,718) (163,015)
Total common stockholders' deficiency (14,380) 12,739
$11,722 $18,667
MEDIABAY, INC.
Condensed Consolidated Statements of Operations(Dollars in thousands,
except per share data)
(Unaudited)
Three months ended Six months ended
June 30, June 30,
2006 2005 2006 2005
Sales, net of returns,
discounts and
allowances of $191 and
$277 and $615 and
$1,430 for the three
and six months ended
June 30, 2006 and 2005,
respectively $1,146 $2,272 $2,560 $5,625
Cost of sales 909 1,607 1,978 3,403
Gross profit 237 665 582 2,222
Expenses:
Advertising and promotion 203 401 715 787
General and administrative 1,556 2,013 3,596 3,588
Termination charges -- 697 -- 697
Depreciation and
amortization 149 17 300 43
Charge for impairment to
Goodwill 2,126 -- 2,126 --
Gain on settlement of
litigation (963) -- (963) --
Operating loss (2,834) (2,463) (5,192) (2,893)
Interest income 56 62 118 75
Interest expense 450 16 465 626
Accretion of discount on
mandatory redeemable
preferred stock 9,709 -- 9,709 --
Loss on early
extinguishment of debt -- -- -- 579
Loss before income
taxes (12,937) (2,417) (15,248) (4,023)
Income tax expense -- -- -- --
Net loss (12,937) (2,417) (15,248) (4,023)
Dividends on preferred
stock 143 533 454 738
Deemed dividend on
beneficial conversion
of Series D Preferred
Stock -- -- -- 17,423
Net loss applicable to
common shares $(13,080) $(2,950) $(15,702) $(22,184)
Basic and diluted loss
applicable to common
shares per common share: $(1.24) $(0.49) $(1.49) $(4.36)
MEDIABAY, INC.
Condensed Consolidated Statements of Cash Flows
(Dollars in thousands)
(Unaudited)
Six months ended
June 30,
2006 2005
Cash flows from operating activities:
Net loss $(15,248) $ (4,023)
Adjustments to reconcile net loss to net
cash used in operating activities:
Loss on early extinguishment of debt -- 579
Non-current accrued interest and dividends
payable -- 140
Depreciation and amortization 300 43
Amortization of deferred financing costs
and original issue discount 29 210
Amortization of deferred member acquisition costs -- 13
Payment of accrued dividends through issuance of
common stock -- 14
Charge for impairment of goodwill 2,126 --
Accretion of discount on mandatory redeemable
preferred stock 9,709 --
Changes in asset and liability accounts:
Decrease in accounts receivable, net 190 631
Decrease in inventory 253 132
Increase in prepaid expenses (69) (194)
(Increase) decrease in royalty advances (11) 99
(Decrease) increase in accounts payable
and accrued expenses (975) 168
Net cash used in operating activities (3,696) (2,188)
Cash flows from investing activities:
Acquisition of fixed assets, including
development of websites (80) (580)
Net cash used in investing activities (80) (580)
Cash flows from financing activities:
Payment of preferred dividends (363) (53)
Proceeds from sale of Series D Preferred stock,
net of cash fees and expenses -- 31,528
Payment of long-term debt, including accrued
interest and dividends (35) (11,721)
Redemption of Series A and Series C
Preferred Stock -- (5,789)
Increase in deferred financing costs (62) (29)
Net cash (used in) provided by financing
activities (454) 13,936
Net (decrease) increase in cash and cash
equivalents (4,236) 11,168
Cash and cash equivalents at beginning of period 8,243 3,122
Cash and cash equivalents at end of period $4,007 $ 14,290
SOURCE MediaBay, Inc.
-0- 08/18/2006
/CONTACT: Tim Clemensen of Rubenstein Investor Relations,
+1-212-843-9337, tclemensen@rubensteinir.com, for MediaBay, Inc./
/Web site: http://www.mediabay.com /
(MBAY)
CO: MediaBay, Inc.
ST: New Jersey
IN: PUB BKS CPR MLM ENT
SU: ERN
LD
-- NYF036 --
0627 08/18/2006 13:30 EDT http://www.prnewswire.com
MediaBay Receives Nasdaq Staff Determination Letter:
June 30, 2006
MediaBay Receives Nasdaq Staff Determination Letter
CEDAR KNOLLS, N.J., June 30 /PRNewswire-FirstCall/ -- MediaBay, Inc. (Nasdaq: MBAY), On June 27, 2006, MediaBay, Inc. (the "Company") received notice from The Nasdaq National Market indicating that for the prior 30 consecutive trading days, the Company's common stock has not maintained a minimum market value of publicly held shares of $5,000,000 as required for continued inclusion by Marketplace Rule 4450(a)(2). In accordance with Marketplace Rule 4450(e)(1), the Company will be provided 90 calendar days, or until September 25, 2006, to regain compliance. To regain compliance the minimum market value of the Company's publicly held shares must be $5,000,000 or greater for a minimum of 10 consecutive trading days prior to September 25, 2006.
About MediaBay Inc.
MediaBay Inc. (Nasdaq: MBAY - News) is a digital media and publishing company specializing in spoken word and premium audio entertainment. The company maintains a library consisting of over 75,000 hours of content, including audio books from best-selling authors and the history of American Radio. Some of MediaBay's digital content partners include BBC, Blackstone, CBS Radio, Harper Collins, Hay House, Oasis, Penguin Audio, Random House, Simon & Schuster, Sound Room, and Zondervan. In addition to its popular Audio Book Club, MediaBay distributes its content through proprietary web sites including audiobookclub.com, radiospirits.com and Soundsgood.com as well as through partner channels including MusicNet, Real, MSN Music, Sirius Satellite Radio and XM Satellite Radio. For more information on MediaBay, please visit www.soundsgood.com, www.mediabay.com, www.audiobookclub.com, www.radiospirits.com and www.radioclassics.com.
Certain statements in this press release constitute "forward-looking" statements that involve a number of known and unknown risks, uncertainties and other factors which may cause MediaBay's actual results, performance or achievements to be materially different from any results, performances or achievements express or implied by such forward-looking statements. All statements other than statements of historical facts included in this press release including, without limitation, statements regarding our future financial position, business strategy, budgets, projected costs and plans and objectives of our management for future operations are forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," or "continue" or the negative thereof or variations thereon or similar terminology. Important factors that could cause actual results to differ materially from our expectations, include, without limitation, our history of losses; our ability to execute on any strategic initiatives; the success of our new digital media distribution strategy, our ability to anticipate and respond to changing customer preferences, license and produce desirable content, protect our databases and other intellectual property from unauthorized access, collect receivables; dependence on third-party providers, suppliers and distribution channels; competition; the costs and success of our marketing strategies; product returns; member attrition and other risks detailed in our Annual Report on Form 10-K for the year ended December 31, 2005. Undue reference should not be placed on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to update any forward-looking statements.
SOURCE MediaBay, Inc.
-0- 06/30/2006
/CONTACT: Tim Clemensen, Rubenstein Investor Relations, +1-212-843-9337,
tclemensen@rubensteinir.com/
/Web site: http://www.mediabay.com /
(MBAY)
CO: MediaBay, Inc.
ST: New Jersey
IN: PUB BKS
SU:
DO
-- NYF099 --
1562 06/30/2006 16:01 EDT http://www.prnewswire.com
MediaBay Receives Nasdaq Staff Determination Letter:
May 19, 2006
MediaBay Receives Nasdaq Staff Determination Letter
CEDAR KNOLLS, N.J., May 19 /PRNewswire-FirstCall/ -- On May 16, 2006, MediaBay, Inc. (Nasdaq: MBAY), (the "Company") received a Nasdaq Staff Determination Letter indicating that the Company's common stock has closed below the minimum $1.00 per share requirement for continued inclusion in accordance with Marketplace Rule 4450(a)(5). Therefore, in accordance with Marketplace Rule 4450(e)(2), the Company will be provided 180 calendar days or until November 13, 2006 to regain compliance. To regain compliance with the bid price requirement, the bid price of the Company's common stock must close at or above $1.00 per share for a minimum of ten consecutive trading days prior to November 13, 2006. If the Company is not in compliance at November 13, 2006, Nasdaq will provide written notification to the Company that the Company's securities will be delisted. At that time, the Company may appeal the Nasdaq's determination to delist the securities to a Nasdaq Listing Qualifications Panel.
About MediaBay Inc.
MediaBay Inc. (Nasdaq: MBAY) is a leading digital media and publishing company specializing in spoken word and premium audio entertainment. The company maintains a library consisting of over 75,000 hours of content, including audio books from best-selling authors and the history of American Radio. Some of MediaBay's digital content partners include BBC, Blackstone, CBS Radio, Harper Collins, Hay House, Oasis, Penguin Audio, Random House, Simon & Schuster, Sound Room, and Zondervan. In addition to its popular Audio Book Club, MediaBay distributes its content through proprietary web sites including audiobookclub.com, radiospirits.com and Soundsgood.com as well as through partner channels including MusicNet, Real, MSN Music, Sirius Satellite Radio and XM Satellite Radio. For more information on MediaBay, please visit http://www.soundsgood.com, http://www.mediabay.com, http://www.audiobookclub.com, http://www.radiospirits.com and http://www.radioclassics.com.
Certain statements in this press release constitute "forward-looking" statements that involve a number of known and unknown risks, uncertainties and other factors which may cause MediaBay's actual results, performance or achievements to be materially different from any results, performances or achievements express or implied by such forward-looking statements. All statements other than statements of historical facts included in this press release including, without limitation, statements regarding our future financial position, business strategy, budgets, projected costs and plans and objectives of our management for future operations are forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," or "continue" or the negative thereof or variations thereon or similar terminology. Important factors that could cause actual results to differ materially from our expectations, include, without limitation, our history of losses; our ability to execute on any strategic initiatives; the success of our new digital media distribution strategy, our ability to anticipate and respond to changing customer preferences, license and produce desirable content, protect our databases and other intellectual property from unauthorized access, collect receivables; dependence on third-party providers, suppliers and distribution channels; competition; the costs and success of our marketing strategies; product returns; member attrition and other risks detailed in our Annual Report on Form 10-K for the year ended December 31, 2004. Undue reference should not be placed on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to update any forward-looking statements.
SOURCE MediaBay, Inc.
-0- 05/19/2006
/CONTACT: Tim Clemensen of Rubenstein Investor Relations,
+1-212-843-9337, or tclemensen@rubensteinir.com, for MediaBay, Inc./
/Web site: http://www.mediabay.com
http://www.soundsgood.com
http://www.audiobookclub.com
http://www.radiospirits.com
http://www.radioclassics.com /
(MBAY)
CO: MediaBay, Inc.; Nasdaq
ST: New Jersey
IN: PUB CPR ENT
SU:
MV-AS
-- NYF081 --
2726 05/19/2006 16:15 EDT http://www.prnewswire.com
Audio Newspaper & Mobile Devices is Launched:
May 1, 2006 News Release
Audio Newspaper Service for iPods and Windows Mobile Devices is Launched by MediaBay
SoundsGood Newscast offers citizens of the world the ability to select and listen to customized audio newspapers from two of the world's leading news services
CEDAR KNOLLS, N.J., May 1, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- MediaBay, Inc. (Nasdaq: MBAY), a leading digital media and publishing company specializing in spoken word and premium audio entertainment, today announced the launch of SoundsGood Newscast at http://www.soundsgood.com/newscast and http://newscast.soundsgood.com. This new subscription service is being launched with digital audio programming from two English-language news services: The Hindustan Times' Audio Digest; and a news service powered by Taldia.
MediaBay's customers can personalize the newscasts by choosing subjects that interest them, and can schedule daily feeds for automatic delivery to their computers, iPods or transfer to any Windows Media PlaysForSure MP3 device.
Promoted through an exclusive partnership with HT Media Ltd., the Hindustan Times Audio Digest on SoundsGood Newscast is being marketed to HT Media's global audience including those of Hindustantimes.com, which serves more than 4 million unique monthly readers worldwide. The newscast features top stories selected daily by Hindustan Times editors from editions published throughout South Asia. Customers may select from news categories including top stories, entertainment (including Bollywood news), business, sports, stars (astrology) and special reports.
Soundsgood Newscast, powered by Taldia, also features content from AP Digital, a commercial division of The Associated Press, including coverage of U.S. and international news, sports, entertainment, technology and more.
SoundsGood Newscast subscribers will receive a 14-day free trial. Thereafter, subscribers to Hindustan Times Audio Digest may download the newscast six days a week at US$9.95 per month, and Taldia's service five days a week at US$4.95 per month.
MediaBay's SoundsGood Newscast expects to capitalize on the growing trend of online news consumption: according to recent research by Pew Research Center, a third of Americans below age 40 cite the Internet as their main source of news. Among those who read newspapers online, 73 percent cite convenience as the reason they do so. Automatic downloads of digital news audio provide even more convenience to commuters, office workers and students, who can listen to news whenever they want, wherever they are.
"MediaBay is proud to provide news audio from two trusted, world-renowned news providers for consumers across the globe," said Jeffrey Dittus, Chief Executive Officer of MediaBay. "With SoundsGood Newscast, our customers who are constantly on the go can easily stay in touch with the news they are interested in - without getting an information overload."
"Through SoundsGood Newscast, customers around the world may now enjoy what millions of Hindustan Times readers in India are already enjoying," said S.N. Bhaduri, Vice President -- eBusiness at HT Media Ltd. "The global Indian now has access to news from an Indian perspective, anywhere, anytime," he added.
"As the technology provider for the SoundsGood Newscast, we are also excited to provide audio content from AP to a very targeted customer -- people who are on the go," said Rys Fairbrother, President of Taldia.
About MediaBay
MediaBay Inc. (Nasdaq: MBAY) is a leading digital media and publishing company specializing in spoken word and premium audio entertainment. The company maintains a library consisting of over 75,000 hours of content, including audio books from best-selling authors and the history of American Radio. Some of MediaBay's digital content partners include BBC, Blackstone, CBS Radio, Harper Collins, Hay House, Oasis, Penguin Audio, Random House, Simon & Schuster, Sound Room, and Zondervan. In addition to its popular Audio Book Club, MediaBay distributes its content through proprietary web sites including audiobookclub.com, radiospirits.com and SoundsGood.com as well as through partner channels including MusicNet, MSN Music, RealNetworks, Sirius Satellite Radio and XM Satellite Radio. For more information on MediaBay, please visit www.mediabay.com, www.audiobookclub.com, www.radiospirits.com, www.soundsgood.com, http://msn.soundsgood.com, and http://real.soundsgood.com.
About HT Media Ltd.
A major force in the print media industry, HT Media Limited commands a leadership position in India through its publications, Hindustan Times, Hindustan and HindustanTimes.com. The group's flagship publication Hindustan Times has editions in nearly every important city in north and west India. The daily English newspaper is printed from New Delhi, Mumbai, Chandigarh, Jaipur, Lucknow, Patna, Bhopal, Ranchi and Kolkata. Currently the daily readership of the newspaper is over 4 million consumers. The Delhi Edition happens to be the largest selling single edition newspaper in India. Not only in circulation, Hindustan Times has held leadership positions in defining trends in the industry. It was India's first newspaper to introduce the compact web-width. Almost every single newspaper followed suit and today the reduced size is a norm in the industry. The group's vernacular publication Hindustan is India's eighth largest read daily. In its segment, it happens to be the fourth most read daily Hindi newspaper. The newspaper has editions from New Delhi, Lucknow, Patna and Ranchi.
The group's website www.HindustanTimes.com is India's largest news site. Every month, the website attracts over four million unique visitors and in delivers in excess of 90 million page views. Forbes has consistently listed it amongst the Top 10 Newspaper Websites in the world. The site offers in-depth coverage and analysis to its users. For more information on HT Media Limited, please visit http://www.hindustantimes.com.
About Taldia
Taldia, Inc. of Altadena, CA, realized early that new mobile technology could support the potential of daily news content being converted from text to audio so people can listen to the news up-to-date and on-the-go. Through a content deal with The Associated Press and creating technology to manage the process, the daily news is available in categories such as Sports, Entertainment, Politics, Business and many more.
Taldia's stable of professional voiceover talent records the news stories with experience in radio, book narration and on-air announcing for such outlets as CNN. Taldia works with publishers to find additional ways to monetize their assets in this new mobile digital world. For more information on Taldia, please visit http://www.taldia.com or call (626)737-6240.
Certain statements in this press release constitute "forward-looking" statements that involve a number of known and unknown risks, uncertainties and other factors which may cause MediaBay's actual results, performance or achievements to be materially different from any results, performances or achievements express or implied by such forward-looking statements. All statements other than statements of historical facts included in this press release including, without limitation, statements regarding our future financial position, business strategy, budgets, projected costs and plans and objectives of our management for future operations are forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," or "continue" or the negative thereof or variations thereon or similar terminology. Important factors that could cause actual results to differ materially from our expectations, include, without limitation, our history of losses; our ability to execute on any strategic initiatives; the success of our new digital media distribution strategy, our ability to anticipate and respond to changing customer preferences, license and produce desirable content, protect our databases and other intellectual property from unauthorized access, collect receivables; dependence on third-party providers, suppliers and distribution channels; competition; the costs and success of our marketing strategies; product returns; member attrition and other risks detailed in our Annual Report on Form 10-K for the year ended December 31, 2005. Undue reference should not be placed on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to update any forward-looking statements.
SOURCE MediaBay, Inc.
Tim Clemensen of Rubenstein Investor Relations, +1-212-843-9337,
tclemensen@rubensteinir.com; or Quinnie Wong, Online Marketing Director of MediaBay,
Inc., +1-201-572-3736, q.wong@mbayinc.com
http://www.prnewswire.com
MediaBay Announces 2005 Financial Results
April 7, 2006 News Release:
MediaBay, Inc. Announces 2005 Financial Results
Company Outlines Milestones for 2005
CEDAR KNOLLS, N.J., April 7 /PRNewswire-FirstCall/ -- MediaBay, Inc. (Nasdaq: MBAY), a digital media and publishing company specializing in the marketing of spoken audio entertainment, announced financial results for the fourth quarter and full year 2005.
For the fourth quarter ended December 31, 2005, the Company reported net sales of $1.9 million, as compared to $4.5 million in the fourth quarter of 2004. Net loss applicable to common shares for the fourth quarter of 2005 was $5.9 million or $0.56 per diluted common share, compared to a net loss applicable to common shares of $18.6 million or $4.98 per diluted common share in the fourth quarter of 2004. Included in the 2005 fourth quarter loss was a non-cash charge for the impairment of goodwill of $3.5 million.
For the year ended December 31, 2005, MediaBay reported net sales of $9.0 million as compared to $18.8 million for the year ended December 31, 2004. Net loss applicable to common shares for the year ended December 31, 2005 was $30.3 million or $4.08 per diluted common share, compared to a net loss applicable to common shares of $30.7 million or $10.24 per diluted common share for the year ended December 31 2004. Included in the 2005 net loss were non-cash charges totaling $20.9 million, consisting of $17.4 million relating to a deemed dividend on the beneficial conversion of Series D preferred stock in the March 2005 financing and a charge for the impairment of goodwill of $3.5 million. The Company's independent registered public accounting firm included a going concern explanatory paragraph in its report on the Company's consolidated financial statements for the year ended December 31, 2005. The qualification was included as a result of the Company's recurring losses. For information regarding management's plans in regard to these matters, please see the MediaBay, Inc. Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2006.
"In 2005 we continued the planned transition of our business to digital distribution with the launch of our new audio download service, www.Soundsgood.com, and the launch of our first private label storefront with MSN Music at http://msn.soundsgood.com. We also plan to implement our announced distribution relationship with Real Networks. Earlier this year, we signed a distribution agreement with MusicNet, which will potentially make our content available on Yahoo, AOL, and CDIGIX, and the growing list of partner companies in the MusicNet family. These distribution deals will place our audiobook and classic radio content in most of the top music services in the United States," stated Jeff Dittus, CEO of MediaBay.
"Additionally, we recently announced that we are exploring our options and setting a strategy to bring our content to the wireless marketplace. We are excited about this market opportunity due to the enormous number of wireless devises in the market place and the rapid convergence of these devices to include support for audio entertainment playback," added Mr. Dittus.
"The decline in our revenues has been expected, as we have not marketed to attract new members to our mail order audio book club, as we have determined to focus on our digital distribution strategy. With a solid foundation of great people and partners in place, we are looking forward to participating in the explosive growth that many other digital media companies are experiencing. While it has taken longer than expected to implement many of our distribution agreements, we are optimistic that MediaBay will soon execute on its strategy."
About MediaBay, Inc.
MediaBay Inc. (Nasdaq: MBAY) is a leading digital media and publishing company specializing in spoken word and premium audio entertainment. The company maintains a library consisting of over 75,000 hours of content, including audio books from best-selling authors and the history of American Radio. Some of MediaBay's digital content partners include BBC, Blackstone, CBS Radio, Harper Collins, Hay House, Oasis, Penguin Audio, Random House, Simon & Schuster, Sound Room, and Zondervan. In addition to its popular Audio Book Club, MediaBay distributes its content through proprietary web sites including audiobookclub.com, radiospirits.com and Soundsgood.com as well as through partner channels including MusicNet, Real, MSN Music, Sirius Satellite Radio and XM Satellite Radio. For more information on MediaBay, please visit www.soundsgood.com, www.mediabay.com, www.audiobookclub.com, www.radiospirits.com and www.radioclassics.com.
Certain statements in this press release constitute "forward-looking" statements that involve a number of known and unknown risks, uncertainties and other factors which may cause MediaBay's actual results, performance or achievements to be materially different from any results, performances or achievements express or implied by such forward-looking statements. All statements other than statements of historical facts included in this press release including, without limitation, statements regarding our future financial position, business strategy, budgets, projected costs and plans and objectives of our management for future operations are forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," or "continue" or the negative thereof or variations thereon or similar terminology. Important factors that could cause actual results to differ materially from our expectations, include, without limitation, our history of losses; the success of our new digital media distribution strategy, our ability to anticipate and respond to changing customer preferences, license and produce desirable content, protect our databases and other intellectual property from unauthorized access, collect receivables; dependence on third-party providers, suppliers and distribution channels; competition; the costs and success of our marketing strategies; product returns; member attrition and other risks detailed in our Annual Report on Form 10-K for the year ended December 31, 2005. Undue reference should not be placed on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to update any forward-looking statements.
MEDIABAY, INC.
Consolidated Balance Sheets
(Dollars in thousands)
December 31,
2005 2004
Assets
Current Assets:
Cash and cash equivalents $8,243 $3,122
Accounts receivable, net of allowances for sales
returns and doubtful accounts of $1,533 and $2,708
at December 31, 2005 and 2004, respectively 691 1,285
Inventory 763 1,530
Prepaid expenses and other current assets 464 199
Royalty advances 523 489
Total current assets 10,684 6,625
Fixed assets, net 1,785 243
Other intangibles, net 42 50
Goodwill 6,156 9,658
$18,667 $16,576
Liabilities and Stockholders' Equity (Deficit)
Current liabilities:
Accounts payable and accrued expenses $4,969 $5,361
Accounts payable, related party - 315
Current portion of long-term debt - 200
Short-term debt, net of original issue discount of
$52 and $54 at December 31, 2005 and 2004,
respectively 32 29
Preferred dividend payable 319 -
Total current liabilities 5,320 5,905
Long-term debt, net of original issue discount of
$111 and $908 at December 31, 2005 and 2004,
respectively 608 9,102
Related party long-term debt including accrued
interest - 7,750
Total liabilities 5,928 22,757
Commitments and Contingencies - -
Preferred stock, no par value, authorized 5,000,000
shares; no shares of Series A outstanding at
December 31, 2005 and 25,000 shares of Series A
outstanding at December 31, 2004; 200 shares of
Series B issued and outstanding at December 31,
2005 and December 31, 2004; no shares of Series C
issued and outstanding at December 31, 2005 and
43,527 shares of Series C issued and outstanding
at December 31, 2004; and 21,063 shares of Series
D issued and outstanding at December 31, 2005
and no shares of Series D issued and outstanding at
December 31, 2004 11,436 6,873
Common stock; no par value, authorized 150,000,000
shares; issued and outstanding 10,516,414 and
4,140,663 at December 31, 2005 and 2004,
respectively 121,681 101,966
Contributed capital 42,637 17,682
Accumulated deficit (163,015) (132,702)
Total common stockholders' equity (deficit) 12,739 (6,181)
$18,667 $16,576
MEDIABAY, INC.
Consolidated Statements of Operations
(Dollars in thousands, except per share data)
Years ended December 31,
2005 2004 2003
Sales, net of returns, discounts and
allowances of $1,825, $5,363 and $16,960
for the years ended December 31, 2005,
2004 and 2003, respectively $8,955 $18,831 $36,617
Cost of sales 5,920 12,547 17,764
Advertising and promotion expense 2,091 5,546 10,452
Bad debt expense 51 829 3,940
General and administrative 6,895 6,043 6,816
Severance and other termination costs 697 - 544
Depreciation and amortization 154 144 328
Charge for impairment of goodwill 3,502 - -
Operating (loss) income (10,355) (6,278) (3,227)
Interest (expense) (767) (9,082) (1,925)
Interest income 257 - -
Loss on early extinguishment of debt (579) - -
Loss before income tax expense (11,444) (15,360) (5,152)
Income tax expense - 14,753 1,471
Net loss (11,444) (30,113) (6,623)
Dividends on preferred stock 1,446 574 246
Deemed dividend on beneficial conversion
of Series D Preferred Stock 17,423 - -
Net loss applicable to common shares $(30,313) $(30,687) $ (6,869)
Basic and diluted loss per share:
Basic and diluted loss per share $(4.08) $(10.24) $(2.92)
MEDIABAY, INC.
Consolidated Statements of Cash Flows
(Dollars in thousands)
Years ended December 31,
2005 2004 2003
Cash flows from operating activities:
Net loss $(11,444) $(30,113) $(6,623)
Adjustments to reconcile net loss to net
cash used in operating activities:
Charge for impairment of goodwill 3,502 -- --
Inventory obsolescence included in cost of
goods sold -- 2,530 285
Write-off of non-recoupable royalty
advances -- 1,215 --
Income tax expense -- 14,753 1,471
Non-cash beneficial conversion 4,382 -
Amortization of deferred member acquisition
costs 17 3,509 6,625
Loss on extinguishment of debt 579 1,532 -
Non-current accrued interest 155 898 909
Amortization of deferred financing costs
and original issue discount 240 1,329 561
Depreciation and amortization 154 144 328
Non-cash compensation expense 328 118
Changes in asset and liability accounts,
net of acquisitions and asset write-downs:
Decrease in accounts receivable, net 816 1,979 4,195
Decrease in inventory 767 103 896
(Increase) decrease in prepaid expenses
and other current assets (319) (48) 300
(Increase) decrease in royalty advances (34) (1,000) 240
Increase in deferred member acquisition
costs -- (356) (2,410)
(Decrease) increase in accounts payable and
accrued expenses (643) (5,406) (5,346)
Net cash (used in) provided by operating
activities (6,210) (4,221) 1,549
Cash flows from investing activities:
Purchase of fixed assets (1,687) (136) (16)
Additions to intangible assets -- (20) (102)
Cash paid in acquisitions -- - (148)
Net cash used in investing activities (1,687) (156) (266)
Cash flows from financing activities:
Proceeds from issuance of debt -- 13,500 1,065
Redemption of Series A and C Preferred
Stock (5,789)
Proceeds from sale of common stock -- 900 -
Proceeds from exercise of stock options 40 563 -
Proceeds from sale of preferred stock and
warrants, net of costs 31,421 - 328
Repayment of long-term debt (11,763) (6,008) (1,615)
Payment of dividends (891) - -
Increase in deferred financing costs - (2,139) (99)
Payments made in connection with litigation
settlement recorded in contributed
capital, net of cash received - - (676)
Net cash provided by (used in) financing
activities 13,018 6,816 (997)
Net increase in cash and cash equivalents 5,121 2,439 286
Cash and cash equivalents at beginning of
year 3,122 683 397
Cash and cash equivalents at end of year $8,243 $3,122 $683
SOURCE MediaBay, Inc.
-0- 04/07/2006
/CONTACT: Tim Clemensen, Rubenstein Investor Relations, +1-212-843-9337,
tclemensen@rubensteinir.com, for MediaBay, Inc./
/Web site: http://www.mediabay.com
http://www.Soundsgood.com
http://www.audiobookclub.com
http://www.radiospirits.com
http://www.radioclassics.com. /
(MBAY)
CO: MediaBay, Inc.
ST: New Jersey
IN: ENT PUB
SU: ERN
MC
-- NYF094 --
6853 04/07/2006 16:15 EDT http://www.prnewswire.com
The Last 10 Posts from MBAY are Posted here as Follows:
I have posted these news releases here before the links become inactive.
Near Term Tripple?
Welcome to the board & Thank You for the info!
So, what do you interpret this to mean?
$1.50/share by the end of October?
What's your gut feeling???