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DRMH/P
Big news today...eom
Ya skunks, keeps politics off the board!
josh,
PRIM has a lot going for itself. It just needs to be developed a bit more. This is a good buying opportunity...eom
SOMEONE IS BUYING UP ALL THESE SHARES!
QBID/P:Not rich; Sure,
From todays PR:
"I get constant questions regarding our contract with the Time-Warner Cable Systems. Our ten-year contract enables us to place our signal throughout the Time-Warner system on a market-by-market basis. After we meet their strict broadcast standards we expect to be throughout their system in the months to come."
QBID/P-TIME WARNER ANNOUNCEMENT...eom
TIME WARNER...EOM
QBID/P-Supposedly big news today...eom
GAMX News:
Company News and Press Releases From Other Sources:
Galactic Gaming Inc. Issues Additional Stock
Galactic Gaming Inc. issues 97,637,075 shares of restricted common stock and 319,000,000 shares of unrestricted common stock
DENVER, Feb 18, 2004 (PRIMEZONE via COMTEX) -- Galactic Gaming, Inc. (the "Company") (Pink Sheets:GAMX) announced that pursuant to the agreement and plan of reorganization it entered into with Aces & Eights Entertainment, LLC, a Nevada limited liability company, which was previously approved by the Company's shareholders, the Company has issued to each shareholder of record as of December 29, 2003, 5 shares of restricted common stock and 1 share of Class B preferred stock for each share of stock held as of the record date.
As of the record date, there were a total of 19,527,415 shares of common stock issued and outstanding. Therefore, the Company issued a total of 97,637,075 shares of restricted common stock and a total of 19,527,415 shares of Class B preferred stock to the shareholders of record.
The Class B shares of preferred stock have no voting rights, no conversion rights and no rights to any dividends or distributions other than the limited right to participate on a pro rata basis in any future Net Recovery, if any, from the "Black Hawk" litigation after the distributions are made to the holders of Class A preferred stock.
The Company further announced that the closing date for the Reorganization has been extended to February 23, 2004.
The Company announced that in order to implement the plan of reorganization, the Company has secured the services of several consultants who will advise and confer with the Company. The value of the services provided to the Company to date and the value of the commitment for additional services are equal to $120,824.00.
In order to pay for the services of the consultants, each of whom is an accredited investor and resides in the State of Colorado, the Company has issued to the consultants a total of 319,000,000 shares of its common stock via a Private Placement Offering of the Company's securities pursuant to SEC Regulation D, Rule 504. Although the 319,000,000 shares of common stock became free trading shares upon issuance, 168,600,000 of these shares are subject to a leak-out agreement that will restrict the sale of the 168,600,000 shares of common stock over the next 12 months. The holders of these shares may sell, on a cumulative basis during each calendar month during the 12 months following their issuance, an amount of common stock equal to the greater of 1/12th of the common stock held by the holder on the date of issuance, or, 1/25th of the average weekly reported volume of trading in the common stock of the Company for the preceding two week period; subject however to the additional proviso that no shares will be released for sale for a period of 45 days from the issuance thereof.
The Company further announced that pursuant to the terms of the agreement and plan of reorganization, 301,000,000 shares of restricted common stock and 5,000,000 shares of Class C preferred stock has been issued in trust for the benefit of the members of Aces & Eights Entertainment, LLC. The Class C shares of preferred stock have no conversion rights and no rights to any dividends or distributions. The only right the holders of Class C preferred stock will have is the right, following the merger, to vote 50 votes for each share of Class C preferred stock held of record on all matters submitted for shareholder approval. The shares held in trust will be released from trust and issued pro rata to the members of Aces & Eights Entertainment, LLC upon approval of a minimum of 90% of Company's creditors to exchange the principal amount of the debt due them for Class A preferred stock, and upon Aces & Eights' current management raising a minimum of $75,000.00 within 60 days of Closing and a maximum of $350,000.00 within 90 days of Closing for the reorganized company.
If approval of 90% of the creditors is received, but less than $350,000.00 is raised, then a proportionate amount of the shares will be issued to the members of Aces & Eights Entertainment, LLC, and the balance will be returned to the Company as treasury stock.
If less than 90% of the creditors approve the plan of reorganization, or if Aces & Eights fails to raise the minimum of $75,000.00 within 60 days of Closing, then the plan of reorganization will terminate and the shares held in trust will be returned to the Company as treasury stock.
Aces & Eights Entertainment, LLC was recently formed to produce, distribute and license cable television programming that combines the current trends of tournament poker with reality television. Upon completion of the reorganization, Aces and Eights current management will replace Galactic's current management, and they will shift the focus of the reorganized company to the development and licensing of reality based television programming for distribution on cable TV.
For further information, contact Richard M. Greene, Secretary, Galactic Gaming, Inc. at 336-274-3200, or Christopher C. Seminatore, Managing Partner, Aces & Eights, LLC, at 949-400-4174.
"Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future events or results. Galactic Gaming, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Some of the important risk factors that could cause actual results to differ from those contained in forward-looking statements, include, but are not limited to, risks associated with our ability to (i) conclude the terms of the merger agreement, (ii) obtain necessary approvals from our creditors, (iii) changes in general economic and business conditions (including reality cable TV, tournament poker programs and cable TV industry), (iv) actions of our competitors, (v) the extent to which we are able to develop new cable TV programs and markets for our programs, (vi) risks in connection with acquisitions, (vii) the time and expense involved in such development activities, (viii) the level of demand and market acceptance of our programs and (ix) changes in our business strategies.
GAMX/P News
Company News and Press Releases From Other Sources:
Galactic Gaming Inc. Issues Additional Stock
Galactic Gaming Inc. issues 97,637,075 shares of restricted common stock and 319,000,000 shares of unrestricted common stock
DENVER, Feb 18, 2004 (PRIMEZONE via COMTEX) -- Galactic Gaming, Inc. (the "Company") (Pink Sheets:GAMX) announced that pursuant to the agreement and plan of reorganization it entered into with Aces & Eights Entertainment, LLC, a Nevada limited liability company, which was previously approved by the Company's shareholders, the Company has issued to each shareholder of record as of December 29, 2003, 5 shares of restricted common stock and 1 share of Class B preferred stock for each share of stock held as of the record date.
As of the record date, there were a total of 19,527,415 shares of common stock issued and outstanding. Therefore, the Company issued a total of 97,637,075 shares of restricted common stock and a total of 19,527,415 shares of Class B preferred stock to the shareholders of record.
The Class B shares of preferred stock have no voting rights, no conversion rights and no rights to any dividends or distributions other than the limited right to participate on a pro rata basis in any future Net Recovery, if any, from the "Black Hawk" litigation after the distributions are made to the holders of Class A preferred stock.
The Company further announced that the closing date for the Reorganization has been extended to February 23, 2004.
The Company announced that in order to implement the plan of reorganization, the Company has secured the services of several consultants who will advise and confer with the Company. The value of the services provided to the Company to date and the value of the commitment for additional services are equal to $120,824.00.
In order to pay for the services of the consultants, each of whom is an accredited investor and resides in the State of Colorado, the Company has issued to the consultants a total of 319,000,000 shares of its common stock via a Private Placement Offering of the Company's securities pursuant to SEC Regulation D, Rule 504. Although the 319,000,000 shares of common stock became free trading shares upon issuance, 168,600,000 of these shares are subject to a leak-out agreement that will restrict the sale of the 168,600,000 shares of common stock over the next 12 months. The holders of these shares may sell, on a cumulative basis during each calendar month during the 12 months following their issuance, an amount of common stock equal to the greater of 1/12th of the common stock held by the holder on the date of issuance, or, 1/25th of the average weekly reported volume of trading in the common stock of the Company for the preceding two week period; subject however to the additional proviso that no shares will be released for sale for a period of 45 days from the issuance thereof.
The Company further announced that pursuant to the terms of the agreement and plan of reorganization, 301,000,000 shares of restricted common stock and 5,000,000 shares of Class C preferred stock has been issued in trust for the benefit of the members of Aces & Eights Entertainment, LLC. The Class C shares of preferred stock have no conversion rights and no rights to any dividends or distributions. The only right the holders of Class C preferred stock will have is the right, following the merger, to vote 50 votes for each share of Class C preferred stock held of record on all matters submitted for shareholder approval. The shares held in trust will be released from trust and issued pro rata to the members of Aces & Eights Entertainment, LLC upon approval of a minimum of 90% of Company's creditors to exchange the principal amount of the debt due them for Class A preferred stock, and upon Aces & Eights' current management raising a minimum of $75,000.00 within 60 days of Closing and a maximum of $350,000.00 within 90 days of Closing for the reorganized company.
If approval of 90% of the creditors is received, but less than $350,000.00 is raised, then a proportionate amount of the shares will be issued to the members of Aces & Eights Entertainment, LLC, and the balance will be returned to the Company as treasury stock.
If less than 90% of the creditors approve the plan of reorganization, or if Aces & Eights fails to raise the minimum of $75,000.00 within 60 days of Closing, then the plan of reorganization will terminate and the shares held in trust will be returned to the Company as treasury stock.
Aces & Eights Entertainment, LLC was recently formed to produce, distribute and license cable television programming that combines the current trends of tournament poker with reality television. Upon completion of the reorganization, Aces and Eights current management will replace Galactic's current management, and they will shift the focus of the reorganized company to the development and licensing of reality based television programming for distribution on cable TV.
For further information, contact Richard M. Greene, Secretary, Galactic Gaming, Inc. at 336-274-3200, or Christopher C. Seminatore, Managing Partner, Aces & Eights, LLC, at 949-400-4174.
"Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future events or results. Galactic Gaming, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Some of the important risk factors that could cause actual results to differ from those contained in forward-looking statements, include, but are not limited to, risks associated with our ability to (i) conclude the terms of the merger agreement, (ii) obtain necessary approvals from our creditors, (iii) changes in general economic and business conditions (including reality cable TV, tournament poker programs and cable TV industry), (iv) actions of our competitors, (v) the extent to which we are able to develop new cable TV programs and markets for our programs, (vi) risks in connection with acquisitions, (vii) the time and expense involved in such development activities, (viii) the level of demand and market acceptance of our programs and (ix) changes in our business strategies.
QBID/P-Tomorrow should be interesting...eom
QBID/p
Rumors abound with big news coming. BTW:Don't count IEME out as a reverse merger someday-hopefully soon.
Naked' short selling to be off limits in Canada
By PETER KENNEDY
00:00 EST Monday, February 16, 2004
VANCOUVER -- Canadian stockbrokers who engage in a controversial but
lucrative practice known as "naked short selling" are about to face
new restrictions that appear to be aimed at closing a loophole in
U.S. securities industry regulations.
When the restrictions take effect on Feb. 20, brokers in Canada will
be prevented from arranging to short U.S. securities on behalf of
clients or from inventory, unless they are able to make an
affirmative determination that the stock can be borrowed and
delivered to the customer on the settlement date.
It means Canadian brokers can still short U.S. stocks, a practice
that involves the sale of borrowed shares by people who plan to
replace the stock by buying it back at a lower price, allowing them
to pocket the difference.
The affirmative determination requirements for short sale orders are
part of amendments to the National Association of Securities Dealers
(NASD) Rule 3370.
One Canadian brokerage official said he believes Canada is merely an
incidental target of rules, which he said are aimed primarily at
U.S. market makers who trade on Nasdaq's lightly regulated Over the
Counter Bulletin Board.
"I don't believe it is to plug a Canadian hole, solely," said Warren
Funt, vice-president of member regulation at the Investment Dealers
Association of Canada. "But it will have that effect."
Until this week, Rule 3370 did not apply to brokers who are not
members of the NASD. As a result, brokers at Canadian firms, such as
Pacific International Securities Inc., Global Securities Inc., Union
Securities Ltd. and Raymond James Ltd., were able to generate
revenue by shorting U.S. securities on behalf of clients or from
inventory, on a non-borrowed basis.
But starting Friday, traders in the United States will be required
to ask Canadian dealers if they have borrowed the stock in instances
where they are attempting to short a U.S. stock on behalf of a
client. "If the answer is no, the U.S. dealer will not accept the
trade," said Doug Garrod, president of Global Securities.
Industry officials say the impact on revenue as a result of the
affirmative determination rule will not be known until the IDA
releases its trading review for the first quarter of 2004.
A compliance executive at one brokerage firm said naked short
selling has been a low-profile, high-money earner for brokers,
particularly in Vancouver's Howe Street district, and some have
already quit in advance of the rule taking effect. (The term "naked"
shorting applies to an unlimited form of short selling that can
cause wild gyrations in the price of stocks that are usually traded
over the counter in the United States.)
"It has been a huge revenue-making area for the brokers that are
doing it because you can charge higher commissions when you are
trading in the U.S.," the executive said. "The fact that U.S.
regulators have taken this action shows that this is a huge
problem," the executive added.
For instance, Global Securities and Union Securities are named in a
lawsuit launched in British Columbia Supreme Court in 2002 by U.S.
biotech firm GeneMax Corp., which became a magnet for short sellers
late that year.
In court documents, GeneMax accuses the brokerage firms of abetting
an illegal manipulation scheme, which allegedly included naked short
selling.
The brokers have asserted in a statement of defence that any long
and short sales of GeneMax shares were conducted in accordance with
applicable securities laws.
Two years ago, popular American short seller Amr (Anthony) Elgindy
was charged with insider trading and racketeering in what U.S.
authorities alleged was a scam involving two FBI agents.
Naked' short selling to be off limits in Canada
By PETER KENNEDY
00:00 EST Monday, February 16, 2004
VANCOUVER -- Canadian stockbrokers who engage in a controversial but
lucrative practice known as "naked short selling" are about to face
new restrictions that appear to be aimed at closing a loophole in
U.S. securities industry regulations.
When the restrictions take effect on Feb. 20, brokers in Canada will
be prevented from arranging to short U.S. securities on behalf of
clients or from inventory, unless they are able to make an
affirmative determination that the stock can be borrowed and
delivered to the customer on the settlement date.
It means Canadian brokers can still short U.S. stocks, a practice
that involves the sale of borrowed shares by people who plan to
replace the stock by buying it back at a lower price, allowing them
to pocket the difference.
The affirmative determination requirements for short sale orders are
part of amendments to the National Association of Securities Dealers
(NASD) Rule 3370.
One Canadian brokerage official said he believes Canada is merely an
incidental target of rules, which he said are aimed primarily at
U.S. market makers who trade on Nasdaq's lightly regulated Over the
Counter Bulletin Board.
"I don't believe it is to plug a Canadian hole, solely," said Warren
Funt, vice-president of member regulation at the Investment Dealers
Association of Canada. "But it will have that effect."
Until this week, Rule 3370 did not apply to brokers who are not
members of the NASD. As a result, brokers at Canadian firms, such as
Pacific International Securities Inc., Global Securities Inc., Union
Securities Ltd. and Raymond James Ltd., were able to generate
revenue by shorting U.S. securities on behalf of clients or from
inventory, on a non-borrowed basis.
But starting Friday, traders in the United States will be required
to ask Canadian dealers if they have borrowed the stock in instances
where they are attempting to short a U.S. stock on behalf of a
client. "If the answer is no, the U.S. dealer will not accept the
trade," said Doug Garrod, president of Global Securities.
Industry officials say the impact on revenue as a result of the
affirmative determination rule will not be known until the IDA
releases its trading review for the first quarter of 2004.
A compliance executive at one brokerage firm said naked short
selling has been a low-profile, high-money earner for brokers,
particularly in Vancouver's Howe Street district, and some have
already quit in advance of the rule taking effect. (The term "naked"
shorting applies to an unlimited form of short selling that can
cause wild gyrations in the price of stocks that are usually traded
over the counter in the United States.)
"It has been a huge revenue-making area for the brokers that are
doing it because you can charge higher commissions when you are
trading in the U.S.," the executive said. "The fact that U.S.
regulators have taken this action shows that this is a huge
problem," the executive added.
For instance, Global Securities and Union Securities are named in a
lawsuit launched in British Columbia Supreme Court in 2002 by U.S.
biotech firm GeneMax Corp., which became a magnet for short sellers
late that year.
In court documents, GeneMax accuses the brokerage firms of abetting
an illegal manipulation scheme, which allegedly included naked short
selling.
The brokers have asserted in a statement of defence that any long
and short sales of GeneMax shares were conducted in accordance with
applicable securities laws.
Two years ago, popular American short seller Amr (Anthony) Elgindy
was charged with insider trading and racketeering in what U.S.
authorities alleged was a scam involving two FBI agents.
Ron, What really interests me is the fact that BRAVO is able to support its network for an entire year with "Queer Eye" and right after the Superbowl three episodes of "Queer Eye" showed on NBC and had the highest rating for the night. There's money to be made in this sort of programming and the time is right for TTN to broadcast.
Clay, Does this sound like a buyout to you? ;)
IEME/P-Good entry point...eom
QBID/P-Good entry point...eom
QBID/P:Tonight on Neil Cavuto (Fox Network), Neil (and it almost sounded like a guest from MTV also) "are going to talk about why a gay channel will make a lot of money."
In the Pacific time zone the show is on at 10 PM.
ron,
Now that's good info. ..thanx...eom
QBID/P Will start to move up until launch. This is a good buying opportunity. Looks like a lot of good things are starting to happen with this stock...imo
GAMX/P...Ready for breakout,
http://www.pinksheets.com/quote/chart.jsp?symbol=GAMX
GAMX/P...Ready for breakout.
http://www.pinksheets.com/quote/chart.jsp?symbol=GAMX
GAMX/P-Poker Televison Network
The Shareholders of Galactic Gaming, Inc. have Approved a 'Reverse Merger' with Aces & Eights, LLC
DENVER, Jan 16, 2004 (PRIMEZONE via COMTEX) -- Galactic Gaming, Inc. (the "Company") (Pink Sheets:GAMX) announced that its shareholders have approved and authorized the Company to enter into an agreement and plan of reorganization with Aces & Eights, LLC, a Nevada limited liability company.
The reorganization will take the form of a Type B reorganization under Section 368(a)(1)(B) of the Internal Revenue Code, as amended.
The plan of reorganization approved by the shareholders increases the authorized shares of common stock to 1 billion shares, and creates two new classes of preferred shares (Class A & B) that will be used to convert the Company's debt into equity, and to provide the holders of the Class A and B preferred shares with priority rights to any distributions from the Company's current litigation involving its attempts to own and operate a casino in Central City, Colorado. The plan also provides for the creation of a third class of preferred stock (Class C) that will have only voting rights and will be issued to the members of Aces & Eights, LLC as part of the reorganization.
The merger is expressly conditioned upon a minimum of 90 percent of Galactic's creditors agreeing to exchange the principal amount of the debt due them for Class A preferred stock, and upon Aces & Eights' current management raising a minimum of $75,000.00 within 60 days of Closing and a maximum of $350,000.00 within 90 days of Closing for the reorganized company. If the maximum is raised, Galactic's current shareholders and creditors will own approximately 16 percent of the reorganized company. The closing of the Reorganization is scheduled to occur no later than January 31, 2004. The reorganized company will change its name to Aces and Eights Entertainment, Inc.
Aces & Eights, LLC was recently formed to produce, distribute and license cable television programming that combines the current trends of tournament poker with reality television. Upon completion of the reorganization, Aces and Eights current management will replace Galactic's current management and will shift the focus of the reorganized company to the development and licensing of reality based television programming for distribution on cable TV.
For further information, contact Richard M. Greene, Secretary, Galactic Gaming, Inc. at 336-274-3200, or Christopher C. Seminatore, Managing Partner, Aces & Eights, LLC, at 949-400-4174.
QBID/P, ABC News now talking about QBID,
http://www.hoinews.com/news/features/2/626822.html
ABC news now talking about TTN,
http://www.hoinews.com/news/features/2/626822.html
QBID/P, The rubber band has been stretched. Get ready for a big move tomorrow...imo...eom
I don't foresee significant selling....eom
paul,
Just a shakeout...hold on I bet big buyers are coming in to get shares.
QBID/P,Moving back up...eom
QBID/p:Bashers are coming out of the woodwork...eom
hi jc, ;) I feel real good right now. WOW.
QBID/P:Wow-a stock buy back and Time Warner with QBID...eom
Wow-a stock buy back and Time Warner with QBID. And the float is less then outstanding.
skunks,
This is the real thing this time. Wow
QBID/P:Capt, Yes the first mention of Time Warner in an article the CEO has made. Look for anoter PR in the morning. imo
NEWS:Time Warner to Broadcast Gay Television,
Feb 09, 2004 (The Business Press - Knight Ridder/Tribune Business News via
COMTEX) -- A Palm Springs media company that specializes in programming for gays
and lesbians will launch a cable television network.
The Triangle Television Network, a wholly owned subsidiary of Triangle
Multi-Media Limited, will begin broadcasting within 90 days, Chief Executive
Officer Frank Olsen said Feb. 4.
TTN, as the network will be known, will be available to about 10,000 cable
television companies throughout the United States and Puerto Rico for $2 a month
for each subscriber, Olsen said.
Time Warner Cable television has agreed to make the signal available to any of
its local system operators that want to broadcast it, Olsen said.
The fledgling network must persuade other cable carriers, large and small, to
pick up TTN's signal.
"We're going to throw sand up in the air and hope the wind catches it," said
Olsen, who has spent 40 years working in radio and television. "It's a slow
business and it can take a while for things to catch on, but we think this can
work. The cable networks can send the signal to whoever wants it without
offending anyone.
"I'll be happy if we get one subscriber," Olsen laughed.
Triangle Television will employ six people to start, and has spent about $6
million developing the network.
Triangle Television could spend another $2 million before it begins broadcasting
its signal by satellite.
Triangle Network will broadcast taped gay athletic contests and fashion shows,
among other programs.
The network will broadcast 24 hours a day, seven days a week, but much of its
programming will be repeated several times, standard practice among most
specialized cable television networks.
Olsen declined to discuss advertising rates, but selling advertising on Triangle
Network could be difficult, he said.
"I worked for a black radio station during the 1960s, and a lot of companies
didn't want to buy [advertising] with us," he said. "This could be the same
thing. Advertisers don't want to pick up one gay person and lose two
Christians."
Triangle Multi-Media formerly owned and operated two radio stations in Seattle
that broadcast gay and lesbian programming.
After selling those stations three years ago, Triangle has concentrated on
developing its television venture.
The business was propped up by investors, but the going has been rough, Olsen
said. "We've made a lot of mistakes. We rented buildings that were too big and
we hired too many people.
"But we're going to get this done. I'm 100 percent sure we're going to get this
started."
Palm Springs, with a history of tolerance toward gays and lesbians, is a logical
place for a gay-oriented television network to operate, said Milton Jones,
publisher of Desert Publications Inc. and the Jones Agency, a public relations
firm.
Jones is leasing space to Triangle Broadcasting in his building at 303 No.
Indian Canyon Drive.
By Joseph Ascenzi
To see more of The Business Press, or to subscribe to the newspaper, go to
http://www.thebizpress.com
(c) 2004, The Business Press, San Bernardino, Calif. Distributed by Knight
Ridder/Tribune Business News.
JC,
This just what we've been waiting for. To the moon.
QBID/P...Get in now...imo...eom
QBID/P,
Hopefully a big push today in anticipation of good news. Get ready.