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Nope. Since they refuse to file the only logical deduction's that could be made are:
a) They paid, but MTVX refuses to disclose that. b) They didn't pay and ...
"MotoVox will not stand by another minute and allow this injustice to continue," said Wayne Patterson, CEO of APT MotoVox Group, Inc. "We are absolute in our resolution to vigorously defend and protect our intellectual property. We will fight this battle to the end because we have worked so hard to make the best products in the marketplace. Our customers, employees and shareholders deserve nothing less."
Since we already know that there was a settlement and that 'MotoVox will not stand by another minute ', are 'absolute in our resolution to vigorously defend and protect our intellectual property' and 'will fight this battle to the end ' ...
Being there was no follow up to the lawsuit and settlement a year later, the answer is 'a)'.
Haven't checked and don't recall offhand but, usually the preferred's hold sway by majority in these stinky pinkies and that's almost always by whomever has deemed themselves 'CEO'.
Even with a change of Emperor, what could they possibly do to rectify this mess? They would have to split (a large one at that) at a minimum, which would wipe out everyone and then there would still be all the toxic notes and whatnot to deal with.
That's the problem. They could go on to do even decent sales over time. But since they decided that the only reason to "go public" was to fleece shareholders and leave them for dead ...
None of that will translate here. They just don't care and never intended to, other than to feign some short lived interest, hype and BS to make it all possible.
Just to clarify on the R\S there. I'm not completely certain about that, reading through these agreements and the obfuscation that is inherent isn't always easy to decipher.
It really matters little however, either in regards to the amendment or to the future. Every once in awhile a R\S can survive this OTC quagmire and those that do are generally smaller splits (I.E. 1:40 - 1:100). Rarely, a larger split will manage to survive for a short time but it seems those that do are off the radar or at best only benefit those that aren't held up (bagholders) when the split is effective and they are stuck waiting for the Cusip\ticker change.
In this case a split wouldn't do any good at with all the notes outstanding, the IR\Dragonsheep formula\VWAP incomplete ... It would take a huge split ratio wise and with the aforementioned obligations lingering would be driven right back into the ground at breakneck speed.
I know we have differed on the whole IR matter but we are in complete agreement here:
It's ok for APT to post about the Corey Dyess disaster and give us that update but not update on all of the other important issues going on here? That's a load of cr@p!
And precisely the point I was making earlier.
I understand not filing, IF they received legal counsel saying they should withhold due to the IR/Draginox catastrophe I get that.
They wouldn't, what attorney* would jeopardize their own standing let alone their clients by advising them not to fulfill their legal requirements with the SEC? There's no precedence for this anywhere. Besides, there's already a provision and obligation in 10Q's\10K's to notate any legal actions that are ongoing. In reality, by not disclosing it's just one more item on the list to further help them shut this thing down OR there's really nothing of a legal matter in play as it pertains specifically to MTVX and IR. Either way, there's no excuse.
(*There's certainly corrupt attorney's down in this gutter, just to be clear, and certainly no shortage of stupidity but, I digress ...)
IR\Dragonhog is, for all intents and purposes nothing more than a glorified promoter. They don't act any different than your run of the mill penny shrill at bottom, they just give off an air of legitimacy and hard to say this but, actually differ in that they do expose themselves to more risk by forking over large sums of $ to obtain these 'settlements' that are leveraged with discounted\formulated share exchanges.
One of the biggest misnomers down here is how companies dilute their SS's, it's not by direct sales to market but via 3rd party entities. Toxic financing, debt conversions, promoters are ultimately the diluters, the companies are complicit and obligated to play along by creating hype, PR's and filings. The latter is almost always explicitly notated in their agreements as has been touched on here before -
It's no coincidence that IR\Dragonchow dumped, recouped and profited handsomely before everything went silent. If you read the original and amended agreement's I believe their obligations superseded any of the other note obligations.
Which raises yet another dubious question ... What about those other note holders who are now stuck, bagholders as well. Perhaps you might see some litigation down the line on that front.
And just to be perfectly and redundantly clear, the IR debacle is, was and forever will be a settlement and agreement that these Bozo's agreed to, it was never an outside\hostile, out of their (MTVX) control matter. They are complicit to the Nth degree, responsible, eyes-wide-open and knowingly understood exactly what this would do not only to anyone who bought these diluted shares but the resulting devastation it would have on the overall SS, effectively killing it.
That one off amendment (I.E. "We didn't realize how dilutive this agreement would be") was a ruse and a load of fertilizer equal to what the state of Texas produces annually. It couldn't have been more obvious by the way it was re-worded and the sheer impossibility of ever reaching the laughable .01 mark without a R\S which they couldn't do anyway.
Clowns. Poorly ran from the top is all I can say. Buyer beware until disclosure here folks.
Absolutely. Clever clowns in one sense, on the other hand they have done a real disservice to real clowns the world over.
APT apologizes for any confusion caused by rogue posts on this or other pages or third party websites.
Their concern seems to have drawn them out of hiding over this matter, the only extrapolation that makes any sense is that everything else that really matters is of no concern whatsoever.
Shareholders, filings, eh, 'character', unpaid taxes, ad nausem.
Good to see the recognition. Zete's had some shoulder issues towards the end of the AAA stint that was, for awhile at least, making it look like this wouldn't happen.
In large part they really responded to the fans who were pretty vocal about it. They were originally reluctant and kind of dismissed the idea before changing course.
You are harming MTVX value by claiming facts without substantiation
Weird, isn't that precisely what this 'company' did at the onset with their million's of $ revs. hype that turned out to have no substantiation?
In fact, it turned out they were not only cash poor but had to go the toxic route just to keep the charade alive. At least long enough for the insiders to dump and dilute this into oblivion.
Not to forgot that now the notes are likely defaulting either because of expiration w\out payment or due to a lack of filings ... or both.
Pretty steep penalties in just one instance.
What's even more ironic? In just the one instance I looked at, going dark is also a default event.
I think we have run out of superlatives to categorize this debacle. Quite likely in the future stinky pinkies that are cellar boxed, can't split and have no way out will be referred to as being MTVX-ed
3.9 Failure to Comply With the Exchange Act. The issuer shall fail to comply with the reporting requirements of the Exchange Act; and/or the Issuer shall cease to be subject to the reporting requirements of the Exchange Act.
This is just for the 200K note to WHC Capital. Most of these agreements are structured the same way. And the penalties are severe.
So it begs the question ... did this note get paid off by Aug. 20, 2015? Or did it just default?
I think it's more that they just don't give a rip than to necessarily hide anything*
And PBT has a lot more connections with John Kirkland and Ironridge. That was a setup as well IMO.
That's a curious take, Matty was the one with the ties and history. That's not unusual though, these schemes need a focal point, someone to go along with the charade, most often the 'CEO', someone else to take the gaze off of. They're all complicit of course ... I know he (Matty) was CEO elsewhere but this was all setup too easily for him. They certainly collaborated for awhile, considering this was supposed to have been crammed into one of his other entities before landing here. Wonder what really happened there?
*It comes back to this,
Most know this was an organized scam from the beginning with the FROZ merger
.
Once that initial burst of activity faded, that was all there was, they never intended to do anything beyond it. Usually these turds will at least try and put up some sort of illusion to try and milk it as long as they can, they didn't even bother.
That's absurd. There is no reason they can't nor shouldn't file. Unless they are broke ... It's what they signed up for by being a SEC reporting company. There's no precedent anywhere for the SEC to tell a co. not to file, it's ridiculous.
IR\Dragonchow will amount to nothing as it applies here. At best they'll get the proverbial hand slap for acting as broker dealers.
Not exactly ... It's not illegal, it's dependent on the stipulations in their agreements, some have a qualifier that the co. be current in their financials, but if anything, a default there is stipulated by a penalty, which is generally just more shares or $.
The larger the split, the worst the chances for recovery. Been through a few as well. The irony here is not only would they need to split it at some absurd level just to make it even viable again for the ten minutes it might trade post split before being slammed with toxic shares coming out the wazzo ... (Not to mention while the stuck holders, awaiting the split conversions are powerless to do anything) ...
They can't even do that. What an epic debacle this has become, have seen scammier pinkies with better prospects.
$3.1 million isn't the $30 million in debt some claim here.
What's to claim? It's one of the few verifiable facts that these numbskulls actually provided. Of course it could be far worse for all we know, but they have decided that's none of anyone's business anymore.
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