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It is just amazing that people are hanging their hats on this washed-up has been that cannot even consider getting his act together, LITERALLY!
Thanks for sharing - you just gotta LOL.
One HUGE PROBLEM. You forgot to account for the continual excessive dilution that will continue up until the RS and then start ALL OVER once the RS has been completed.
PH knows: Rinse and Repeat and just keep drawing out every hundredth of a cent that he can from the equity of this "supposed" company.
Book value per share goes DOWN daily!!!!
It is a share selling scam pure and simple.
Make that 1.37M, LOL.
Yeah, don't think Peter will be able to overcome the dilution he has put in place with a measley $250,000 buyback, ROFLMAO.
Yeah, sure.
Oh wait, where are we trading now? Looks like we are one tick away from the .02s again.
LIKE CLOCKWORK I tell ya. Never substantial support on this one - NEVERRRRRRRRR!!!!!!
Well, there is good support at times, but the continual excessive dilution beats it down EVERY TIME.
No, IMO he has it a bit backwards.
It is sell low and buy back lower, and lower still.
There are no "highs" to this thing to "sell high", LOL.
They are just LOWER tops, and lower, and lower still.
Th, THa, That's all folks. I think she's done for the day and now we will get the downward pressure.
Not sure if this thing can even have a two day upswing anymore, one day will probably tire her out too much.
Resistance levels are usually 5 times as strong as their support levels - as has be borne out with today's movement.
Hope you enjoyed the show!
About as much energy generated with their upswings as one of their movies generates, LOL.
Well, it is gonna take quite a large smackdown to take care of that 600000 share bid that just showed up at .032.
AND.....
THere is the smackdown - JUST LIKE CLOCKWORK!
Can ALWAYS depend on it, LOL
I was thinking more like no buyers.
We have only had one or two showing interest to buy anything above .027, and they get sold to pretty darn quick.
On the other hand, we have two pretty large sellers sitting at less than .0295.
Makes it pretty hard to move up with that kind of selling interest stacked in front of that kind of lack of buying interest.
SAPX is a Sell low, buy lower kind of stock, but you better do the sell low real quick and not be too quick to buy back lower, LOL.
Problem is, with that theory, this POS can't even get TO .03, much less pushed OVER .03 with any significant volume.
The minute it looks like it might hit .03, the big dilution kings come in and beat it back down to the mid .02s
Yeah, They look like they are just shaking in their boots, LOL.
A tiny step towards some progress. Not sure it is worth buying because of this, but some imagination of some progress here.
"Seven Arts Entertainment Announces Deal with Producers of "Sweetwater" for Post-Production at its New Facility ... in New Orleans"
Dream on!!!
Compiling info on dilution and true value of SAPX:
This is from a couple of posts that analyze how the company is using its equity.
These should certainly stay as sticky notes so poeple will know what they are investing in.
At the end of march 31 2011 they had 26K in cash. At the end of march 31 2012 they had a negative balance of cash. At the start of this past reported Q they had 7,798 in cash and at the end of the most recent Q they had negative 25,267 in cash. The sad part of that is they have sold 10's of million of shares and their cash on hand has not only NOT improved but now showing negative.
This is right from the Q.
CASH AT BEGINNING OF PERIOD $7,798 $ 26,818
CASH AT END OF PERIOD $ $(25,267 ) $ 26,574
Then look at this from the Q, More shares that are supposed to be issued for debt.
The Company has evaluated these convertible notes for embedded derivative features and has determined that no derivative liability exists. Assuming all notes are settled via common stock, the number of shares to be issued to satisfy approximately $3,727,660 of debt plus accrued interest is approximately 17,653,000 shares of the company’s common stock .
This is all they do is issue shares for debt. Every Q there are more shares and more shares issued.
Then we have this
The Company converted $2,963,028 of the film and production loans into 5,989,349 shares of common stock during the three months ended September 30, 2011, $906,000 of film and production loans for 3,490,385 shares of common stock in the 2 nd quarter ended December 31, 2011 and $943,580 of film and production loans for 6,749,658 shares of common stock in the 3 months to March 31, 2012.
Just look at this rate of dilution
Between October 1, 2011 and December 31, 2011 the Company issued 11,470,808 shares. The total number of shares outstanding on December 31, 2011 was 22,620,288.
Between January 1, 2012 and March 31, 2012, the Company issued 19,348,684 shares at an average price of $0.19 per share. The total number of shares outstanding on March 31, 2012 was 41,968,972. (See Subsequent Events Note 13 for stock issuances subsequent to March 31, 2011).
Then look here in May
Total shares outstanding as of May 10, 2012 was 68,090,174. (including 2 million shares issued to SAP Plc.)
Two months later its up another 36 million shares.
Now as of the 8K today
As of June 30 2012 (the Company’s financial year-end) , the Company had 96,793,011 shares in issue. Since the last reported number of shares on May10, 2012 in the March 31 2012 10-Q , the Company has issued the following unregistered securities.
Its increased another 28 million.
Give me a break this is printing faster then the dallas morning news. The sad part is they did a RS last year and the OS was 2.5 million shares. So the shareholder equity here is maybe .25 a share and that is if we do not see any more dilution. But looking at the current shares still need to be issued for debt that number is going to continue to go up. Tell me what about this balance sheet looks good again.
Just look at the 8K today at the new shares to be issued
New Stock Issuances from May 10, 2012 through June 30, 2012
6,659,364
common shares were issued in satisfaction of $240,000 of film loans previously converted at an average conversion price of $0.04/share. (high of $0.09 and low of $0.02)
18,109,801
common shares were issued in satisfaction of the $796,152 of newly converted debt at an average conversion price of $0.04/share. (high of $0.08 and low of $0.04)
2,568,383
common shares were issued in satisfaction of $200,000 of existing overhead liabilities (loan interest) at an average conversion price of $0.04/share
I think the very sad part is that the CEO keeps releasing the same hold hashed over news or fluff. The more share issued the equity keeps going lower and lower. Remember they have up to 250 million shares they can issue and from the looks of it they are going to keep issuing shares. Nothing would indicate they are not.
The dilution is non stop with this. I have yet to see a 10Q of 8K that did not have a huge increase in shares in the last year. So if you can count on management not to issue one more share you are correct its worth a bit more here but how can anyone trust this management when they are diluting 20-25 million shares at a clip here.
***************************************************************
Now, Aug 11, we get an update (thanks to NotRichYet2 putting some time in to do some more DD) because a new Form Pre 14A was filed on Aug. 9th:
True value of SAPX for common shareholders ???
Can only guess based on the last 10Q put out by the company.
Last 10Q was for March 31, 2012 - So will use only REPORTED #
Total assets $ 41,269,929
Total liabilities 16,291,126
__________
Net Share Equity $ 24,978,803 with at the time 30,421,315 O/S
Now in the Total assets there is $ 24,111,370 FILM COSTS - this is the value of the FILM library which get amortized (written down) over time. Currently earning $60/month and DROPPING as these films get older. Anyone think they are worth $24 million? $12 million?, $6 million? - market value more like 3 to 5 Million
Next we have Total assets $ 9,540,859 MUSIC ASSETS - This is your DMX + $1M for BIG JAKE - no current income - But when this DMX album finally gets released they need to RECOUP that $9.5M frist before any real profit to bottom line. Due to DELAYS (4) most DMX Fans by now have downloaded off the internet what they wanted to thier iPOd or something by now.
What can one say about the $ 19,522 in Property and Equiptment?
Next is the $ 7,598,178 Current ASSETS made up mostly of RECIEVABLES - Thats good, because its needed to offset that $16M in total liablities.
Now keep in mind that as of March 31,2012 there are known to be 125,125 Series A shares (par $10) out and 60,000 Series B shares (par $100) out. BOTH of whom have FRIST CLAIM on any ASSETs of SAPX before common up to $ 7,251,125 as of MAR 31
Since this 10Q the COMMON SHARES O/S has increased to 133,226,259 a 102,804,944 INCREASE since MAR 31st and climbing.
What I am getting at by making this post is that the true value of SAPX common shares is speculative and subject to interpetation.
My own view based on the above INFO is that SAPX for common shares is worth less than ZERO and dropping. So that DMX release better not fail because that TAX CREDIT is a hoax, the $250 buyback is a JOKE, a R/S of 1 for 100 (or even MORE) provides a LARGE % drop afterward, DELISTING fron NASDAQ, so 2013 could be a REALLY BAD YEAR for SAPX, if not eariler.
Fundamentals are very clear with SAPX
There is just too much wrong with this stock for it to really be a viable investment.
http://www.stock-bb.com/seven-arts-pictures-plc-nasdaq-sapx/316-%24250-000-one-heck-sign-belief.html
http://stock-bb.com/seven-arts-pictures-plc-nasdaq-sapx/317-little-history-lesson-who-audits-sapx.html
http://www.stock-bb.com/seven-arts-pictures-plc-nasdaq-sapx/315-%248-800-000-tax-credit.html
GL
The chart is looking enticing and I have bought back in for merely a chart move.
Still do NOT trust PH further than I could throw him.
BE VERY CAREFUL AND TRADE USING ONLY SETTLED FUNDS!!!
BE NIMBLE and take profits when they come.
I would think that is more than likely.
I know, a whole lot of dumping occurred above .035.
I'm wondering if they will dump it on down into the .02s today or hold this .033 support till the end of the day.
I'm kind of thinking the support will break before the end of the day, but maybe not.
Oh, BTW, I never commented on a buyback.
Yes, it is nice to see but do I trust it to support our share value for more than a day or two here and there - NO WAY it will support for weeks at a time!!!
I trust it will bolster share price for a few hours on select days when PH wants to assist share dumping by those entities who have converted shares and are ready to get their money from the limited equity in this company's share value, but that is all the support I expect it to provide.
Yes, that is why I am here also. Have no care whether this company makes it or not (which I really do not think it will from how I have seen them do business) - just have to watch their tea leaves when they cast them into the cup and trade accordingly, LOL.
Still DO NOT TRUST PH!!!!! He will entice buyers with this news and other supposedly good news rehashes. All the while his cohorts that get to convert shares that he gave them, will continue selling into news like this - just watch what it is doing now.
He will get everyone retail buying the shares today and then he will RS this 1:100, and then this will drop another 65% before the shares have any chance of appreciating in value even minimally. And chances are, he will just dilute into any run pushing the price back down into the pennies again. He has already done three RSs and killed every single one of them. Buyers at this level will NOT get their money back for what they put in for a longggg time unless you are a trader here and are VERY NIMBLE - sell when Peter's cohorts are selling their converted shares - on the good news like today.
Buy when everyone is still wandering in the dark, trying to figure out what the next desperate move will be for Peter, but sell on the first hint of good news - NEVER, EVER hold for very long cause Peter will EAT YOU ALIVE - YOU AND YOUR SHARES, BwaHaHaHaHa!!!!!
This is exactly what we have been trying to tell everyone for so long here.
I hope it works out for you, but the way Peter sails this ship, he just WILL NOT let her sails catch a breeze. He pulls the mast down every single time the sail starts to fill.
Idiocy; Pure craziness and greed.
Well, My vote is certainly "NO".
I cannot imagine many shareholders who would want to vote yes - they are just trying to increase their control so they can siphon off more money.
Being on the NASDAQ vs the Pinks has not made ONE BIT OF DIFFERENCE for us shareholders, so let's just be happy with the Pinks so it is really sitting on the exchange it should be sitting on.
This POS has ALWAYS been a Pink stock, just incognito on the NASDAQ.
Now THAT is downright funny and totally accurate - Thanks for the input there.
Hey guys, I'm gonna try to ease myself into the board here. Will probably start chatting next week sometime - got to run off and lick my wounds for a while before getting back on the ship, LOL.
Thank you so much Matt, Augusta, and Soldier Hard for trying to bring truth to an extrememly deceptive game.
I have high hopes that maybe you peeps can steer me straight and into a few profitable trades/investments in the next few months.
Also, maybe we can get Lowhanging fruit to join us here - he has phenominal DD skills - would be a great asset to the board.
One more post just so the record can be stickied:
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=8386597
To the Stockholders of Seven Arts Entertainment Inc.:
Notice is hereby given that a special meeting of the stockholders of Seven Arts Entertainment Inc. (“Company”) will be held on August __, 2012 at 9:00 a.m., local time, at Company’s principal offices at 8439 Sunset Boulevard, Suite 402, West Hollywood, CA 90069, for the following purposes:
1. Potential Reverse Split of Shares. To authorize the Board of Directors to implement a reverse split of the Company’s shares of common stock in a ratio as determined by the Board of Directors as necessary to meet the continued listing requirements of The NASDAQ Capital Market or the new listing standards for an alternate exchange to be chosen by the Board.
2. Issuance of Up To 200,000 Shares of Amended Series B Preferred Stock. To re-authorize the Board of Directors to issue up to 200,000 shares of Amended Series B Preferred Stock and to ratify the issuance of 180,000 shares of Series B preferred stock.
3. Approval Of Revised 2012 Stock Incentive Plan. To authorize the Board to increase the number of shares of the Company’s common stock issuable in the Company’s 2012 Stock Incentive Plan from 5,000,000 to 20,000,000.
...
Our board of directors has fixed the close of business on July 26, 2012 as the record date for determining the stockholders entitled to notice of and to vote at this special meeting of stockholders and at any adjournment thereof.
...
Record Date and Voting Rights
Only stockholders of record at the close of business on July 26, 2012 are entitled to notice of and to vote at the Special Meeting or any adjournment thereof. On July 26, 2012, there were108,226,259 shares of our common stock outstanding, each of which is entitled to one vote on each of the matters to be presented at the Special Meeting. On July 26, 2012, there were outstanding 125,125 shares of our Series A Preferred Stock and 180,000 shares of our Series B Preferred Stock outstanding, which represent in total 44,341,667 votes on each of the matters to be presented at the Special Meeting if we were to assume conversion prices of $0.15 and $ $0.50 respectively, provided that the aggregate votes of holders of Series B Preferred Stock will not exceed 6,258,240 until approval of Proposal 2. No Holder of the Series B Preferred Stock will be entitled to vote with respect to ratification of Proposal No. 2, which affects holders of Series B Preferred Stock.
...
Well, I'm signing off for an extended time now. I'll lurk and read messages and manage information a bit, but I have got other things to attend to, and this POS is gonna do what this POS is gonna do, because Peter Hoffman has absolutley zero concern for his shareholders.
Good luck to all those who are hoping there is something of value in this POS, but be careful, BE VERY NIMBLE, and only trade with SETTLED funds!
It just keeps getting deeper and deeper. I mean EVERY single day, there is more that is found about how Peter has set up innumerous amounts of deceptions.
I don't think we can ever hit bottom because he just NEVER stops with the manipulations for him to pull money and control into his hands.
That's my point. You SAY you are loading, but you are too unsure of the company to load any higher than .0309 because we all KNOW this is going into the .02s.
So, you are not truly thankful because it has not gotten low enough for you to think it is a safe buy yet, as evidenced by your inabilty to pull the trigger here.
So why not just post that info, instead of making people think you are buying now.
We can see it in the L2.
Oh, COME ON!!! This is pathetic!!!
You people who say you are buying like Bigballs there, can't even get it up past .033 for a few seconds, they can't even get it up to .031 at the very best. Talk about poor performance!!!
It would seem that you could keep it up longer than that.
Uh, I would be careful with that one, LOL.
Oh, I think it is ridiculous more than funny, and amazing that they can get by with this kind of scam.
Oh, the company will provide, just be patient. It may be today, ot it may be the end of the week, but they will hold true totheir course and provide shares for all.
Matt, he was saying
it will break .03 before 1 O'clock Eastern Standard Time.
Book it
A Lot of stops should go off.
They have to wait until a large enough bid builds up to start the unloading.
They don't dump it down until they get desperate toward the end of the day and they can see there are not enough buyers to even stabilize the share price - then is when you get the big dumps that drop the share price 10 to 20% from time to time. With this stock it seems that is 2 to 3 days of every week, LOL.
Oh, that's right, I forgot - You are NOT REALLY share buyers, you are BAGHOLDERS, and you are hoping that Peter will get out of the way, quit selling company shares just for a few seconds, so you can talk peeps into buying the shares you are trying to get out of, LOL.
Good luck with that. Peter will beat you to the punch every time because he has unlimited amounts of shares with which to jump in front of your ask, Bwa ha ha ha ha ha ha ha!