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Christ! Checking in now ... geez Louise! Yesterday I picked some .0002s, but just to try, I put an order for today at 10mil @ .0001 to see it I might get lucky.
Saw that today was just like yesterday (and Friday), the EOD sells into the Bid was prolific ... again. And, I did pick up 10mil shares at .0001. Apparently, so did many here, so retail is getting them - and saw [not surprisingly] the Ask was ridiculous!
The Bid can't continue taking hits like this - and the Ask has become such a wall, that BMIC & VNDM are small potatoes now.
Some shorting (naked or otherwise), sure; but there is also some dilution. On the 29th the Q3 ends, the 10-q Q3 will probably come out in mid Nov, that should have an accurate OS count.
I read today's PR and saw:
I don't see it ... why would an oil & gas exploratory company with interests in OK and CO be interested in an Asian social networking site, and vice versa? They not only don't "synergize," it just doesn't jive.
A check on their board shows one post about this last week by a random and one time commenter; and no one seemed interested. In fact, there were only 4 posts last week, after over a month of nothing.
However, the poster who suggested this on TNEN's board was a regular on SP*L.
I know I may be flirting with TOU here, but I don't buy that claim. Still hoping for MMEG & MigMe -- now they would synergize.
Now, will this and their other acquisitions & plans work out? I don't know, I believe & hope so. Only time will tell.
All I know is that the .0001s have been hit hard for days, and many of those newly purchased shares are now sitting on the Ask, along with our friends BMIC & VNDM.
Uh, are you under the impression that Poolworks was thriving? Ah no... it had been neglected, not updated, and losing viewership --- hence, they were acquired for pennies on the dollar.
The plan is to build out and update Poolworks, etc.
http://www.marketwired.com/press-release/momentous-entertainment-group-to-rebuild-its-poolworks-social-media-platform-otc-pink-mmeg-2232075.htm
I don't know of any Company that bought a distressed Company and turned it around in the same quarter! Do you?
The currency used for the acquisition, as with the others was some cash and shares (dilution). That dilution is what has been hammering the PPS [since May] - and now the Bid.
Per the Aug 10-Q filing:
Tough end to last week ... the EOD .0001s were dizzying. In 2weeks the Q3 ends. Looking forward to the Q3's 10-q (most likely in Nov) -- and IMO, it should be better than the Q2's. That's what we want: good, steady, quarter-over-quarter improvement -- after all, it was the turtle that won the race.
Hopefully some news/PR about something (can't pick which may be first because MMEG is doing several things now) before then. But, not looking forward to more notes converting (Nov I think).
I was always skeptical about naked shorts when a stock hits such low PPS levels, but I've read Marxbys links twice, now - I'm not so sure.
If true, then MMEG is a rubber band stretched out tight ... only 2 outcomes [50-50 chance], either it springs forward or breaks.
I'm betting on the former based on the many things MMEG is currently working on, and on the things they said they were working on, and have followed through with.
Holding & hoping --- and grabbing a few more .0002s on Wed.
Well, those were some modest EOD t-trades. I thought it was gonna be much worse.
Yup, that Ask just grows when there's some buying. I think it was NITE or CDEL moved from .0003 to .0002 when we were close to being under 100mil on the Ask. However, good steady buying today.
Barring a repeat of yesterday, or a substantial PR - it will probably take several days that are just like today, to get us out of the .0002s.
There certainly has been good buying today and good hitting of the Ask, but with VNDM & BMIC sitting there, I doubt it.
I'm so curious how many shares they're really holding, and can't wait for them to be done!
Both of those updates would be a nice "booster shot" in the arm, especially on progress report for OTT streaming.
But I'm looking forward to the close of Neurofuse, and the modest revs they will add, because then they can work in their next acquisition, and that next LOI could really send sparks flying. I know there was speculation here what the next acquisition would or might be, and I'm hoping it happens --- it will only add to the revs ... and it would continue the quarter-over-quarter progress in their 10-qs.
MMEG is playing the long-game, forcing many of us to be long investors. Can't wait for everything to synergize here, so that even the "short-termers" and flippers make money.
Well, that Withdrawal of Registration Statement was welcomed news. It reinforces what was said in the recent Quarterly Audio Update.
They've stopped dilution for $$$ for operational purposes and solely now for acquisitions. Which translates that they're generating their own operational $$$ via revenues.
Now they withdrew their 'equity line of credit" safety net for cash, obviously for the same reason --- they don't need it. Thank God, the way the PPS dropped since they applied for that in 2016, would have resulted in a ludicrous amount of shares with this valuation.
A couple of more weeks and Q3 is over ... looking for to the 10-q Q3 and hoping [and betting] it will be better that Q2.
Fingers-crossed & hoping that if they continue increasing their revs, they may withdraw future dilution deals and pay back their loans (with the 8% interest).
It's good to vent, and understandable. My turn: Christ, over 400mil shares sold (or bought, whichever way you wanna look at it) at .0001s! In addition to the .0001s sold yesterday.
Do know where we'll find these shares? When a good PR/News is released, and solid buying pressure returns, we'll find those shares sitting with our friends, BMIC & VNDM, on .0002s.
If we're lucky to get through the .0002s, all those .0002s that were just bought, along with the .0002s (not all, but some) that were gobbled up this past month - will be at .0003 and .0004 (of course with BMIC & VNDM).
Making a lousy situation worse. Too many shares out there running wild.
Thought I could wait until next year for MMEG to announce how they plan on handling the SS, but I really wish they would address this, this year.
I think we're owed something, no? The diluted shares are being used for acquisitions, and we (the investors/shareholders) are financing this plan.
They gotta understand that now at .0001s, they should put something out for us.
Where's my Advil?
Have accumulated and am now holding.
Fingers-crossed
I don't know what's going on here anymore (in regards to trading, volume, PPS - not the with the company business plan). Last week we saw heavy volume as the week progressed on, both on the Ask and on the Bid. Seems .0002s are the flavor of the month, if they're on either - they get hit hard. Friday we saw the largest volume yet with close to 3/4 of a billion shares and we started Monday off with close to 640mil shares! We go up 1 tick, then go back.
I grabbed a bunch of 2s and some 3s on Friday and more 2s on Monday, and now have averaged down to .0009!!
Now I find myself complaining about the same thing I did in July/Aug during the dilution period... BIG volume on both Bid&Ask, consistent t-trades, minimal movement of PPS ... and of course BMIC & VNDM sitting on the Ask showing fake amounts, but apparently with an endless inventory. I thought Friday's and Monday's volume would break their back ... but, no.
It feels like we're in another tranche of notes being converted. We're almost half-way thru Sept and nearing the end of the Q3. We'll see in the Q3 10-q (most probably on Nov 21 or 22) how many shares were added to the OS.
I know there was discussion regarding MMs and cross trades, and trying to cover, etc .. but with volume like last week and today, that should've "broken through" walls and we'd be sitting on .0004s, flirting with .0005s - and any decent PR could send us north (possibly .0007-.0009), right?
IMO, I think it was Brick Top who mentioned it, but I agree: any updates regarding convertibles, etc., would be nice (either in the form of an 8-k or a PR to shareholders).
Just a little venting before I hit the sack .. see y'all in the morn.
Still waiting for an update regarding Neurofuse. That deal was supposed to close in the Q2. Hopefully we'll hear something soon.
Blackfox closed in Aug:
http://www.marketwired.com/press-release/momentous-entertainment-group-completes-acquisition-of-mobile-ad-network-blackfox-otcbb-mmeg-2229996.htm
I certainly like hearing when more shares are being rotated into stronger hands.
And lately, the heads-up on twitter has been spot-on regarding news coming out. Glad I hit the 2s in the am. Just picked up some 3s.
Had to step away this morning. NICE volume! I see the 2s were hit hard again today (like all week) and finally BMIC & VNDM moved. Great to see 3s getting some hits.
This is primed for a good juicy PR right now.
I bet the accumulation chart looks unreal.
All this week, severe Ask slapping of .0002s, and VNDM & BMIC just sitting there ... still.
40mill volume already today, all buys -- and doesn't even budge their numbers.
I think I remember reading something regarding that. I have to defer to Foxy & Marxbys, they've been here longer and are more familiar with MMEG's details.
If I remember right, I believe some of the terms of that deal had to be re-negotiated with creditors -- again, I forgot the details.
Excellent outlook Pirate. They can re-structure the company [and most probably re-brand it] without the anvil of debt & creditors around their necks. There have been many occasions where we've seen companies come out of bankruptcy stronger.
The German courts are not like ours, more efficient and timely. By the time the legality portion is done and the new [and hopefully] improved Poolworks (or whatever new name is selected) is cleared to get back in business --- should be, well what do you know? ... early next year. (sound familiar?)
Christ! The Ask has been getting slapped silly all week and BMIC & VNDM have been just sitting there spewing out a ton of shares -- retarding any attempt to get into the 3s.
VNDM finally left the ask after some good buying pressure [again!] today. Now it's back. Both of them like a veritable stone wall. Really disheartening for new & old investors.
Bought 5mil on Tues & another 5mil on Wed -- dropped my average PPS down to .001, which I didn't think achievable weeks ago (the 2s have been a gift), but it's time we see some movement up after all this buying, no?
With the twisted sisters of VNDM & BMIC sitting there, even .001 seems so far away.
Frustrating.
Exactly right stokjunky, that is precisely what we need. But, that is waay down the line. We're waiting for word on the closing of the Neurofuse deal, then I believe - according to their plan - there may be 1-2 more acquisitions. Then it's building them out, working and complimenting each other time. They're already working on Poolworks.
But, as I think Dvanajscak once said, the success or failure of MMEG is going to hinge completely on revs & profits. If the $$$ generated here is what we think it will be (that's when that "Goodwill" debt will be huge by them writing off $4mil per year!) -- then there are many things they can do. And fixing this SS should be on top of that list. But, the way things are going and progressing with the company, and regressing with the PPS; I don't foresee anything like that being considered until maybe Q3 or Q4 of next year.
This is strictly "the long game."
No, there isn't anything written or said about a R/S. In fact, I can't remember if it was during a quarterly audio update, or during an interview, but the CEO addressed this issue and stated he is not entertaining any thought in regards to a R/S ... I wish I can remember where I read that.
I was just calculating the numbers he put out to show a R/S not being feasible, well at least not with those numbers.
Yes, we need great news, and that will fix the PPS. I hope you're right that the wait won't be long.
haha, I thought .0014 was the bottom too & was set (had been averaging down during the slide). When it hit trips, I was surprised, not happy & kept adding. 5mill more at the .0002-.0003 range should get my average down to .001 (those 2s on the Ask were huge in dropping my numbers). Then I'm going to wait, hold, and do what all good sub-penny investors do .... pray!
But your R/S numbers are not right. Right now the OS is at 2.488B. Let's suppose after the Nov notes convert, there are 3B shares (a bit high, but the numerology makes it easier). With a 30,000 - 1 R/S, that makes the OS 100,000 shares.
IMO, when the dust settles, and if everything goes as planned and revs/profits are coming in --- then I believe they will deal with the SS.
As you say --- we shall soon (possibly may not be soon) find out.
IMO - I've always liked the motoped, and if I was younger - might even consider getting one.
But let's say this becomes a hit, franchises grow, other people get in on the act and many cities have rent-a-mopeds. And let's assume some of those riders like it so much, they buy one. So hypothetically assume it takes off like gang busters.
The stock MTVX won't see a dime. First, Covey has to pay the judgments he's lost in those lawsuits. Then there's his debt.
Then, his character (or lack thereof).
I can't remember when was the list filing, or when this company was last current. MTVX shows a "STOP sign" on the OTC website. And no shareholder updates (lol).
In essence, this ticker MTVX has been abandoned, the investors here served their purpose of paying off some of his debt with the diluted shares.... and we are the "stuck" bagholders. I can't even sell my shares!!
If there IS $$ that will be made, Covey is keeping it --- this ticker is history.
I hope for the day when either I'm proven wrong and MTVX is revived (fat chance) or Covey is put in jail.
Still don't have a clue why those 100s of millions of shares were bought in early March.
I'm glad you're back -- truly. I got in at March and bought in the .0024-.0026 range. I know you (and others here) were here before me and bought in much higher.
It downright sucks seeing it drop this far! I figured with the dilution it may hit the .0014-.0115 range. When it didn't let up, and BMIC & VNDM were like veritable walls ... and with some valid points made by critics, I entertained the thought that me may enter trips. But, I would have never imagined .0001 X .0002!
But during this horrible slide, you [and many others here too including yours truly] have been a good soldier and buying shares to average down throughout this slide. I know you're sitting on a lot of shares and it's not easy seeing your portfolio's value drop. On top of that, you're in Texas and have been dealing with Hurricane Harvey.
The dilution has its purpose. Some dogs I was involved in also diluted, one was to pay bad debts, lawsuits, pay-off company officers who left: I lost money there. The other one, I pulled out at the beginning of the dilution and didn't lose $$, but it turned out to be a scam. Watchfuleye is right, the sub-penny market in the OTC is a cesspool. But neither of those companies were building out their product. MMEG has been acquiring companies and now we see they're re-building Poolworks. More acquisitions are on the way. We see why they're diluting.
The 10-q for Q2 was better that Q1 -- I believe Q3 will be better than Q2. If these quarterly filings continue to improve on each other, eventually we'll hit critical mass and it will be reflected in the PPS. Just waiting for an update on Neurofuse and possibly another social media site (hopefully Migme).
The good news is they're no longer diluting for operations any longer, their revenues are sufficient to run the business; it's strictly for revenue generating "vehicles." Personally, I can't wait for this dilution phase (one in Nov & another in March) to finally be done --- FOR GOOD; then maybe they can repair the SS.
Still hoping & holding ... and a bit queasy.
GLTA!
Thanks Fox --- and I'm sure Watchful eye appreciates the countdown ... I think I can hear him scream "Baby!" from here.
Hmmm, I like your numbers better. I figured 2.2B in the float -- and in that float I calculated the 200mil shares for Vert and 400mil shares for Blackfox. My "guessitimation" for what we [Longs] hold , assuming atina hasn't sold his, is roughly in the neighborhood of the 750-800mil share range. That would leave 800mil free range shares out there (and about 100mil shares held by folks who will be holding - but not quite as a long as a long). But, like I said, I like your numbers better.
I didn't like the trading today - even though I picked up a bunch of 2s. The twisted sisters of BMIC & VNDM were there on the Ask quite a bit. Whenever 2s were sitting on the Bid they got whacked, if they were on the Ask, they got pummeled, with strong volume. Not much interest for 3s, though we closed with 3s (nice job BTW). Then the EOD t-trades - wow. It felt like the dilution phase of a couple of weeks ago. I'm hoping your scenario with the MMs is correct.
Anyway, glad this week is over -- have a great weekend. A great & safe weekend to ALL!
Which puts the float roughly around 2.250B-ish. Got home half hour ago and saw BMIC & VNDM on the Ask with 2s. Couldn't help myself - and grabbed a bunch. Averaged down to .0011. Hopefully, Q4 '18 it'll either pay off ... or I win the 2018 Bagholder Supreme Award.
Thanks Marxbys -- and though today's news update didn't have that "wow" factor... it is what I was hoping for.
We knew that when MMEG bought Poolworks, it was struggling & mismanaged social networking site. A far cry from their glory days. Hence, the bargain price it was purchased for. But, we haven't heard much about it since the acquisition.
Well, they announced today its "plan to rebuild and relaunch its Poolworks German social network platform. The completion of the new Poolworks social network platform is anticipated for early next year. Momentous and Poolworks expect to launch the new platform with a new user interface and enhanced features, including mobile functionality. Along with the new platform, refreshing the brand identity, potentially with a new name and logo is also being considered."
The re-building has begun, which answers that question.
Hoping the PPS "re-builds" also during this process ... and hoping farther down the road, if the Revs/profits are very good, they can use some of that $$$ to deal with the SS.
Well, I'm hoping she's interested in a long-term relationship --- and if I "hang-in" there, she will reward me at the end... uh hmm, we are talking about MMEG, right?
The name change (or re-branding) is for Poolworks.
Yes it would be, especially for us night owls.
Hoping things start too mesh here soon and things turn around. I wish the audio investor update was longer than 7min, given that about 3min of it was an intro and the "safe harbor statement."
But what I got out of it regarding dilution was:
Thanks for the heads-up Foxy... seeing this morning's trading was getting on my nerves, so I left for work early. Catching up with posts now. Also saw on L2 that the selling did not relent after I left.
Hoping for some momentous news.
Yup, we'll know when news comes out --- if not tomorrow, it'll be this week.
Thanks for PM Fox. Been catching up on posts today. I saw the upcoming update this week, so I assume it would be their usual quarterly audio investor update. But, artmaniac's post (#42893) has me interested.
Desperately in need for good news here, was reviewing Level II -- too much selling pressure.
I hear ya stokjunky, I get it... same here, now I post when I'm less frustrated --- like hours after trading.
Can't wait til we're out of these trips. May take a while, all those hundreds of millions of shares bought in the .0005s-.0009s (mostly by folks who saw massive volume, great accumulation charts, and believed a significant movement north was afoot and were going to "ride it up a bit" and get out) are now hitting the Bid & sitting on the Ask.
It's going to take time.
But, important lessons indeed.
I can honestly say this will be my last long play in the OTC.
I believe (& hope) MMEG will work out in the end and with the $$$ I make here -- a SMALL amount to play the pennies as you described -- and some I'll go back to the Big Boards with.
And the rest, in the bank ... God willing.
GLTY too.