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The big question in my mind with regards to the S8 is what are they going to do with the share issuance proceeds? Or in this case, what are they going to do with all of the consultant services? Another project brewing? I sure hope so.
I think Mak will let those preferred shares he has sit until a few years from now when he looks to sell the company - hopefully for more than .075 a share. He may keep them just like they are so that the earnings per share numbers and the P/E ratios look good.
Above is what I'm guessing/hoping for.
This stock is a real roller coaster ride. At first I thought I was really smart for investing here, then stupid, then smart, then stupid...
Well, yeah, a change in auditors is a red flag but that doesn't mean it means anything. I didn't see anything sketchy sounding in the 8K or the attachments.
Hep - I was wrong. They do have to comply with some parts of SOX but I don't think they've got to do all that tedious field testing - the main crux of SOX.
OTC BB stocks do not have to comply with Sarbanes Oxley. Its in their 10K as a risk that the law my change and they may incur a cost if they do have to become compliant.
There were alot of restatements of the SEC financials after they got rid of the old firm, so maybe that's why they're gone. Why the got rid of this firm is anyone's guess.
It wasn't because of a disagreement or anything like that. That would've been disclosed because this recently fired firm would want to protect itself and it would've insisted on disclosure.
The financial reporting field is very tempermental these days with SOX and the corporate crackdowns.
I didn't watch the pilot, but my friend tells me that the bald guy is a very famous actor. I'll try and get his name. She also said he was a martial artist. She also mentioned that we should hope that the bald guy on that link was in fact a contestant on WWTAM!
Its going to take a longer than most thought for this stock to move substantially. After the steep price declines in 2006 alot of people got burned. Like ULTRA said, we are climbing the wall of worry. Its a psychological effect more than anything else.
The pilot not being available on the website was a non event for me. I originally thought they had technical problems but War Eagle's reason was better - you can't have a pilot viewable online when it can be accessed from China!
I think AAGH can double or triple in the coming months, once we get broadcasting schedules and more details. I don't think we'll see anything like .50 until we actually see the numbers on the Q. If they can get it aired in August the 3rd Quarter Q will look good. On the positive side, by the time this thing does make a big move I'll have a long term capital gain. Unbelievable for BB stock.
Good Luck
It was a great PR I thought, too bad everyone is on vacation this week with the Fourth on a Wednesday. Still, much of the trepidation is eased. I feel much better about this stock than I did yesterday.
another theory here....
These were probably same players who brought this stock to under 2 cents several months ago. In 2006 they probably took advantage of all the dilution and naked shorted this thing, taking out all the stop loss limits and scaring everyone to death. Loading up for the run up to .15 or whatever it went to.
I'm buying "Trading For Dummies" this weekend. This is crazy stuff.
I'm not budging, I'm holding till .001 or 1.000.
Its June 13th in China, so I guess they started shooting and will be done probably on Friday. Maybe we'll hear something next week about the finished pilot, when I'm on vacation. I'm going to see how long I can hold out before checking the quote, I'll see if I can at least make it to Tuesday.
This is my first penny stock as well. Most of assets are in CDs and big index funds.
If you like this company roll the dice and buy some shares. Make sure its money that you wouldn't mind losing though - I would advise. You are speculating here.
If anything this has been very educational. With penny's you're in a crazy world of day traders, scammers, pumpers/dumpers, etc... Alot of characters out there. That said, I think ultimately this company has potential. Even if I lost it all here what I learned from all the DD I did it will make it worthwhile. Its been alot of fun too.
Chinese people love their celebritites. I think the show will be a hit but who knows. The show will be run in Mandarin, the universal Chinese language, so it will have a large audience. The Cantonese version did well.
I believe that - how they aren't blitzing us with fluffy PRs. They haven't even updated their website with this last PR. One can assume that they aren't banking on this PR for anything.
I forget who said it, but AAGH will take off once we get an article in a magazine or newspaper. This is certainly a newsworthy story.
I believe what ULTRA said about there being alot of trepidation with this stock. Alot of people have a wait and see mentality. Alot of people got burned.
I thought about cutting my position with this company during this last run up but I'll hold off. I made it this far.
Not too concerned about that. We can find that information out quickly enough from 2Way I'd imagine. If it were to happen, they'd get their licensing fee back and then the stock is still worth approximately .04.
Yes, China is a risky market. They are also an export market. I don't think they are crazy enough to double cross a US company by not refunding amounts due but who knows. That risk is a long shot.
JB - John Leper is still in LA I believe. Stanford Intl is too, right? John Leper doesn't sound Asian and he may not want to go expat to Hong Kong. Yes, a little more disclosure would've been nice on those amounts due from related parties. Just increase the share price, don't do those funky things.
2029 is my projected retirement date. If AAGH tanks 2029 is still my projected retirement date. If AAGH hits that date moves up a year or two.
CMAMAN2029
If they moved 1.4 million that was in A/R at 12/31 to Due from Affiliates for 3/31 don't you think that would've had to restate the 12/31 K for comparability? I'm not to hip on financial reporting but that is not an immaterial reclass.
Thinking about getting in? Not quite under .03 yet.
CMAMAN2029
itsonlymuni - I might be reaching here but maybe those consultants and employees, if they are mainland China citizens, HAD to sell their shares. The PRC may disallow holding US stock as some kind of currency control which is tightly regulated by them. I've been looking to verify that. Maybe its just easier to sell than deal with the red tape of owning US stock. COOP - You work in Financial Services, what's your take on that theory?
Either way, if I'm compensated in stock by the best or the hottest of companies I'm selling large blocks. Most people need liquid cash. Most people should diversify.
Nobody has a crystal ball, but this company checks out okay. Would I fall over in shock if this company were a dud, no, but I think its worth the risk here.
Heptikus - I'm betting we aren't seeing a PR as Mr. Mak is weary of SEC scrutiny. If I were him, after making multiple amendments, I wouldn't release any PRs either until I get some tangible verifiable news. Some of the earlier PRs were ill conceived. For now he's speaking to us in the filings. Its a difficult environment in this post SOX era. Accountants, CEOs, and CFOs are incredibly cautious.
Ultra - Are you in?
CMAMAN2029
So I'm wondering if the 2nd Quarter can be profitable - not like it matters in the long term picture anyway. If they pay back that loan, either in shares or in cash, that's going to the balance sheet. The proceeds were probably used in Q1 and Q2 and that will be traced to the income statement.
Their filings are impressive documents for a company their size. Alot of details in there. They spent time on it. I don't mind so much that they are always late.
I'm guessing Sabana is someone or some group with knowledge of AAGH's operations or has other dealings with Mak. A per se related party or insider would've had to have been disclosed.
If they take shares then that's a huge clue that they know what the company is all about.
The 10Q is due on May 15, if they are late the NT is due on the 16th and the Q on the 22nd. We should get some more details then. We'll see what info we get then.
If I knew when substantial news were coming out or if the clowns were right I wouldn't be messing around on this board. I do like the risk/reward here. I tend to think we're going to zero or to 1.01. At an average cost of .055 I feel good.
I've been waiting for some kind of revenue forecast. I'm hoping they are holding off on that because they are avoiding SEC scrutiny. Hopefully waiting for closed contracts before they release projections.
I wouldn't go so far as to call this a selloff.
That's standard 10K verbiage I would guess - all the disclaimers about their ability to obtain financing and at favorable rates, etc... They probably cut and paste that. I've seen that in many Ks.
Your taking a hell of a risk if you are still waiting to get in at .03. We can get details on closed advertising contracts tommorrow and we might not see .15 again. It was fair of you disclosing your stance a while back.
Correct me if I'm wrong, COOP, but I don't think they can recognize revenue until it is earned - when the commercial actually airs. I wouldn't think you can send an advertiser a bill until they see their commercial run. So we may not see the revenues until Q3.
Could the Q3 broadcast date have been a typo? I wouldn't think so, that's an important bit of info.
However, the most pertinent part of the K you posted was the CMP expects to be closing advertising contracts part. When that event occurs is when we see some excitment I think. Your K posting also explained the ownership structure.
The 2006 10K is due tommorrow. I just found that out for sure. Interesting points. All very possible as the SEC has been looking at these BB stocks lately. The SEC asking questions might be why we haven't seen a PR. Maybe they'll wait until they have something substantial and verifiable. I welcome SEC oversight, if that is the case, and I'm still in the bullish camp. I guess you were right about the bloated AR balance as well. This amendment explains that.
I'm far from an expert but I think this stock is good deal at .05.
The 2006 10K was due on April 2 this year. They filed that extension which is for 15 days so they've got until April 16 or 17. I'd imagine they use the weekend. Most companies will release earnings and forecasts a few days before the K but I don't think alot of BB stocks follow that schedule - this is my first BB stock. That's what I was hoping that snippet you found was.
Thanks for getting that to us. Lets hope that means that revenue forecasts for the 1st and 2nd Quarter will be out by next Wednesday or Thursday along with the 2006 K. I also hope that "soon" means today for WWTAM news! Some tangible news is what we need.
Interesting point. So the expense for that S8 they did in late January, if it relates to the show's production, would probably be capitalized and amortized. It wouldn't all hit in the 1st Quarter. Probably a good thing.
I made it this far and I'm not selling one share until at least this summer.
Perhaps, nobody wanted to take a chance on WWTAM in China as crazy as that sounds. Even if Mak has the best intentions its not exactly a slam dunk that the show will be popular out there. I tend to think it will be though.
A show called WWTAM in a country that is communist at least in form more than substance is a wild idea. Also, maybe not many outfits have the capability to deal with the byzantine laws and red tape over there. Media is still controlled, big players probably don't want to touch that market.
Nice exchange between you and IMO. May is getting very close...
I don't think we can glean anything underhanded with a late filing. I'm staying. The could've whipped out the K but probably wanted to do it right. We may drop a little and if we do I'll buy some more.
They, either Stanford or AAGH, probably has a small accounting department with alot outsourced so its probably a little harder for them to comply with GAAP and the SEC regs.
The late filings, like someone mentioned, are an SOP for them.
I know, its more frustrating news then anything. They just can't get their financials out on time. I thought about selling and going back in but I'm going to hold - just in case they do release a strong PR. Its 4AM in the morning in Hong Kong, unless they are filing from the LA office they're working late.
The next few weeks/months will be very interesting. Ian1969 your wait might be over shortly. Enormous potential here. This will be the first time WWTAM will be produced in the universal Chinese language. I hope the show pops up on CCTV International so Chinese expats can be viewers too. Chinese people are all over the world and most have a satellite dish so they can get Chinese stations. They love CCTV and their Hong Kong/mainland celebrities.
Yes, lets hope they got some of the negative news out of the way before they release the good news. I change in auditors can be a red flag but it probably does not mean anything. Maybe they weren't happy with the service or maybe they cost too much.
A few thoughts for the board....
I'm in at average cost of .055 and I'm holding. We'll at least get news by the 31st unless they are late with their filing again. I'm betting Mak profits more by bringing this to $1 or $2 than by double crossing us. He's a master marketer, he could've done that already I think but he hasn't.
St. Louisfan - Toss technical analysis out the window with this one I say. Its all about prospects. Maybe next time around you can sell higher than 15 cents. Watch the Pittsburgh Pirates this year.
Bell - I think most people realize we are speculating here. Do you work for GS?, that's a joke. The 401K is in blue chips, six months worth of expenses are in cash, etc... This is a quick way to double your money. Nice links.
Tweedie - Yes, Bulletin Board stocks are not known for their corporate governance or investor relations. Good job pointing out the risks.
China is the wild west of capitalism. Fortunes will be made and lost but that's not for me, my stake is kind of small.
Good Luck. Hopefully something good will break.
I think we'll get a PR soon, within a few weeks. The 10K is due soon and maybe we'll get some kind of announcement about revenue, profit/loss, or a forecast. I'm cautiosly optimistic about this stock. There is alot we don't know.
I read somewhere that there was a cantonese version of wwtbam but this version will be in mandarin - the universal Chinese language. Maybe the cantonese version was the one run in Hong Kong and on the mainland. I'll be watching alot of CCTV.
Chinese people like TV shows produced by HK outfits, they are just made better. I'm hoping that all of those S8 consultants were HK TV people.
A good PR or more info would ease some of this trepidation. Its a gamble, Tweedie has points I hate to say, but I still think its a risk worth taking.
Happy Chinese New Year. I'm hoping not to get slaughtered in the Year of the Pig. I was watching CCTV last night. You can bet I'll be watching in May as well. Good luck, have a happy/lucky new year.
Management has alot to think about and can't always focus on what particular shareholders want when they want it. They've got alot to worry about, spammers, greedy market makers, pumpers, short sellers... Let alone getting off a TV show.
This stock is an investment. I don't fully understand the forces at work here as I'm not a trader and this is my first BB stock - perhaps part of my problem - but I like investing with the growing Chinese middle class. Alot of people will get very rich (and very poor) off of China. Huge companies will emerge. Every major multinational has a China plan. Lets just hope this pans out. Give it time.
I tend to think the PRs are very well planned. I would imagine there will be something before the 10K comes out.
Good Luck.
For a stock that's been declining I'm seeing alot of new people on this board. It gives me a good feeling. I've got an average cost of about .057, right around Friday's close. I'm trying to be patient, as the saying goes money flows from the impatient to the patient - forget who leaves that quote. These BB stocks are wild.
Pocket, I was't referring to the S8 and the consultants. I was making a point that it didn't appear to me that the officers/insiders required to report to the SEC (Stanford Intl- Mak and his crew, the Corp. Sec. and whoever else) were not selling their stock. That says to me they are believers and this isn't some kind of scam. I also noted that I couldn't be sure that they weren't selling, just couldn't find anything in the SEC filings.
Something never mentioned on this board I took as a strong positive. One of the 10Qs mentioned that AAGH would be SOX compliant. Why? They aren't required to do so. Why incur such a cost voluntarily? Is compliance required by a customer/partner? Are they looking ahead at NASDAQ listing? Or is this a scam and they are trying to fake us out with the promise of transperancy?
Also, if Insiders/Officers are trading/manipulating this stock don't they need to file SEC Form 4s? I've seen a Form 3 for Stanford Intl but no Form 4. Maybe the reporting officers are holding their shares? The corporate structure is a little tricky, maybe they are trading and its somehow shielded from SEC filings.
This is my speculative play with money I don't need. Healthy skepticism is welcome to me. I've got to hear all opinions. Worth the risk of investing here although I stress risk. I'm swinging for the fences. This is exciting stuff.