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There were 800k on the offer all day today. I think there's a lot more than that to get through before we get to 002.
This was just posted on Good Gaming's Facebook page. It's not new news, but it should get us all excited.
http://www.cbsnews.com/news/now-some-nerds-can-get-athletic-scholarships-too/
I agree - this audit was going to take some time. For a company like this that has never been audited before, you don't just walk in there and start auditing the numbers. You first have to identify the internal controls they have in place and then identify the significant ones that can materially affect the financial reporting. For a company like SEGI, I wouldn't be surprised if very few of their controls were identified and/or actually working. Once those controls are identified, the auditors then test them to see if they were working in order to get an idea of how much they can rely on the numbers in the financials that management provided. If they feel the controls are lacking and cannot be relied upon, that means they have to do a lot more testing over those numbers, which takes a lot of time. I have a feeling that's where SEGI is.
Plus, they have to have a starting point, which I doubt is 2013. So now you're not just auditing 2013, but probably 2012 and maybe 2011 as well. So digging through detail from those years adds additional work. And then finally, you have to go through the footnotes, tie out all the numbers in there and possibly add additional discolusres with additional amounts in order to conform to GAAP reporting.
So all told, for a public company that's never been audited, I would expect this to take a couple months. Now, in future years, assuming they do a good job of recordkeeping and keeping their internal controls in place, I could see it only taking a couple weeks to complete the audit. That's all IMHO, of course.
I'll admit I'm ignorant as to what is contained on the Twitch site. But it sounds like it is for viewing only. If Amazon was willing to pay $1 billion for a site where you only stream videos, Good Gaming, with the ability to watch and play games, I would think would be able to fetch a better price than that. Especially a few years down the road as gaming continues to grow. That assumes, of course, that GG ends up being a high quality site that gamers are attracted to. That's my hope, anyway!
Just my opinion, there is not an exact date set for the launch of GG. They are in the final phases (or should be, hopefully) of Alpha testing and then they need to run the beta test to make sure everything is functioning properly. Once they're comfortable that everything is working as it should, then it can be launched. But I think the launch date will be determined by how the site performs in beta testing. But from everything we've heard so far, it should be mid-September at the latest.
As for the buyback, I'm sure it's still on the table but I would expect they are waiting to see some more revenue come in before they start spending cash on that. I haven't seen a timetable on when that will commence - I would imagine it's not a very high priority for the company at this point.
Me too! It looks like he got some at 192 and some at 222 - not sure if there was any in between.
I saw it. Volume went from 41,000 to 85,000. I don't have L2 though.
Cool! What is her role going to be?
I know exactly what his "update" will say: the audit is progressing on schedule. But then he'll refuse to tell us what the timetable will be. LOL.
I've been curious about something for a while now and haven't been able to come up with an answer so I thought I'd post it to the board and see what you guys think.
I know it's been said here and there over the last year or two that some posters know of people who have money ready to buy the stock but they are waiting on the sideline because they want to see how it performs first. My question is, assuming these investors are still sitting there waiting and haven't bought in yet, why would they not get in right now? We're maybe only a couple weeks away from the launch of Good Gaming and have at least a couple potential deals on the XA side. In addition, it appears we've set a floor for the PPS about where we're at now because every time it dips from here, we always seem to come back up to around $0.02. So the likelihood, as I see it, of this stock going lower is about nil.
It seems like it would be a good business decision to get in now before it starts to take off. I don't know if anyone has had any recent communications with these potential investors, but if you have, I'm curious what they are waiting on. I'm not worried about it because I think in a month or two, we'll see volume pick up substantially. But I would think if you're looking to get in at the lowest price, now is probably the best opportunity.
Not just this quarter - this entire year!
This may be a dumb question but does SEGI have a Board of Directors? I'm trying to figure out how a CEO can be, what, 4 years in to his tenure and go two straight quarters without reporting any revenues and still be employed! Only in the pennies I guess!
Not to mention that that's two quarters in a row now (at least) without any revenues. How can that happen????
Do you have a link?
People still go bowling?
They're all Sox fans down there so that makes sense.
Not necessarily. The PR just said they've engaged the auditing firm to perform the audit. Depending on how well-staffed the CPA is, it may take them a week or weeks to free up people to do the audit of SEGI. I wish Ed had put some more specifics in his PR about the timing. But it usually doesn't happen as fast as everyone would like.
CMG is the ticker symbol for Chipotle (Chipotle Management Group, I believe). It trades at about $670/share. I actually saw that Yahoo posted a Chipotle related item under CMGO, which was kind of funny. I guess there are worse stocks to be confused with.
I'm not sure what the process is, but it sounds like it requires a phone call to Yahoo. From post #48880 from Fergus, it sounds as though it's not necessarily a customer-friendly process dealing with Yahoo.
From post #48880:
"I think they have done that Power...He cleaned up the OTCMarkets site. Did you ever have to interact with Yahoo....Good luck unless you want to be on hold for 45 minutes every call. Glenn did put up a new web site for the holding company, nothing wrong with it. XA has two web sites with a re-fresh coming. I think they have had a good balance of dealing with the minutiae, while focusing on the major tasks such as signing contracts, increasing revenue's and finishing GG platform."
On the Profile page, right above the big "Details" box, it lists the website as www.creativemanagementgroup.com.
I put it in the stickies for now. I can replace it with something else later on down the road since it's in the ibox.
That's OK - from Pickle's post, it looks like they released a schedule of pricing in one of their previous filings or PRs - I must have just missed that one.
Oh wow - thanks Pickle! That looks like a pretty good start!
The thing I am most curious about at this point is what the membership fee is going to be and is the company going to release that information before the site goes live. I haven't done enough research to know what a typical membership fee is for this sort of thing so I'm interested to hear what that will be.
I don't believe I've used any of my stickies so just let me know.
No, from everything that's been put out by the company, GG should be ready to go live before the end of 2Q. I wouldn't worry about the timelines stated in that article. That wasn't specific to GG - I think that was more of a generic timeline. I think the company spent a lot of time up front to get things right so that they would have very short alpha and beta testing periods in order for the site to go live in early September. I posted the article just to show what typically happens during alpha testing vs. what happens during beta testing. The timelines mentioned in that article should be ignored.
You might pass that link along to someone in the company if you think they want to try to get that PR posted here.
Before you posted about IHub charging to publish news, I emailed the Admin. This was the response I got - it sounds like the news might still get published on our board at some point?
The CMGO news you requested was posted using MarketWired news source. Our legal team is renegotiating the contract with MarketWired. For legal reasons we have temporarily disabled the news feed. We hope to restore this as soon as possible, but do not currently have an estimated resolution time.
For now, companies can submit press releases using the iHub NewsWire:
http://investorshub.advfn.com/Boards/NewsWireDash.aspx
Please let me know if you have any questions.
Warren
InvestorsHub
CMGO - NEWS OUT!! Oh, and did I mention CMGO is already debt-free???
http://finance.yahoo.com/news/good-gaming-enters-closed-alpha-163022604.html?.tsrc=applewf
You're not kidding. A couple weeks ago, someone hit a button on my remote for the TV and it made the picture zoom in and cut off the words at the edge of the screen. I went through every menu and hit every button I could think to try to fix it. Then, I finally did a Google search and had it fixed in literally 20 seconds!
That's just a generic outline of what happens in each stage. Obviously, every project is going to have different timing and unique steps within their testing.
I wasn't sure either so I did a quick Google search and found this:
http://www.centercode.com/blog/2011/01/alpha-vs-beta-testing/
I think a couple days ago, it was at about 104k followers if I recall correctly. I'm thinking there was a bunch of spambots that started following them and then through cleanup by either GG or just as part of how they work, maybe they dropped off.
Last quarter, they filed on the deadline day, 5/15. I know that's not early, but at least they didn't file an extension. I would not expect them to file any extensions going forward, as I know that was one of management's new goals when they took over. So I am expecting the 10-Q no later than 8/15.
There's part of me that likes the fact that I don't understand a lot of the terminology that I've seen from GG, like "sniping." It kind of shows me that the site is truly built for gamers first and everyone else second, which is the way it should be. I get the sense things are about to get bananas around here!
Wow! If $CMGO were to run to $21.00 in a few weeks, I would officially win at life!
As it should be. There's a reason why they hold the positions they do within the company and we're here making anonymous posts on a message board. If they listened to our suggestions, they would have moved their offices to Denver by now and set up a weed shop. I personally am happy to let them do what they think is best.
No need. I sold all my divy shares many moons ago so whatever happens over there going forward is irrelevant to me. But if you have information you'd like to share, I might take a look.