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CKNN nice base formed and new volume coming in:
Keep in mind there is already about 250k of deferred revenue that will hit next quarter. Combined with record sales figures and we should have excellent numbers above these.
New Income Statement update on Yahoo:
http://finance.yahoo.com/q/is?s=fugo.ob
Q: What would you do?
1. You are short up to 850k shares on a thinly traded stock
2. You are getting calls from the Clearing House
3. Your madder than hell and not ready to take responsibility
4. The shares you sold were illegally sold
5. The clock is ticking and you can't complain to SEC
A: Do anything and everything you can to whack the price down and buy time in hopes it will just all go away.
Short Interest (Shares Short) 162,200
Days To Cover (Short Interest Ratio) 5.1
Short Percent of Float 1.87 %
Short Interest - Prior 3,500
Short % Increase / Decrease 4,534.29 %
Bet thats the tip of the Iceberg. Great to see they are getting reported!
http://www.shortsqueeze.com/?symbol=fugo
Sooner or later those shares will need to be covered and since our perpetual seller is out of the way... maybe some juicy PR's will soon follow.
Keep in mind that digital sales revenues are not reported yet and around half of the web banner deferred revenues will show up next quarter.
Next quarter should be very attractive!
10Q submitted and should show up on Edgar any moment.
Trading records subpoena is surely right around the corner??
Our short is behind HILL on L2. He is just trying to move shares around to reset the clock on the covering.
People gave him a hard time on that one... he should have just called it the "Shell Game of Hide the Shorts!"
Your seeing "Double Short to Double Cover" before your eyes... Barry is likely buying from himself in a crossed AON trade to buy some time.
Someone is getting desperate looks like.
.<font color=green> Repost: The next few months may be very interesting. We seem to have a situation on our hands that just might result in a rather nasty short squeeze.
The following statements contain much of my own personal opinions and I have no proof that anything illegal has taken place.
1. On May 9, 2007, we entered into a contract with Var Growth Corporation (D.B.A. Ice Cold Stocks) and issued 875,000 shares of restricted common stock at $.15 in exchange for consulting services to be performed over a 12 month period from the date of the contract.
These shares cannot be sold until the restrictions have been lifted by the company. The $.15 was the value declared at the time of the deal but does not represent money paid for the shares.
2. Over the last six months many of the shareholder have been trying to piece together a puzzle. There has been a constant selling pressure on Fuego's stock at prices that are well below even the lowest averages and nobody knew where the stock was coming from. The answer would have to be someone who's cost basis was below these levels or a desperate shareholder. Only one name ever came up but he did not have free trading shares yet. So it would seem... Sure there have been sellers including one of our hedge funds, but we now have word that that hedge fund is a buyer at this low level and has been sucking up these shares for 2 weeks.
3. Yesterday it seems the company filed a restraining order in Miami's Dade County court today against Var Growth (IceCold Stocks) to prevent them from having the free trading stocks on the grounds that services were not provided as promised. A second lawsuit claims damages. This all takes place only days after yet another massive dump of shares on the last 2 Mondays.
Dade County documents:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28327482
rule 144 states.
What If a Dispute Arises Over Whether I Can Remove the Legend?
If a dispute arises about whether a restricted legend can be removed, the SEC will not intervene. The removal of a legend is a matter solely in the discretion of the issuer of the securities. State law, not federal law, covers disputes about the removal of legends. Thus, the SEC will not take action in any decision or dispute about removing a restrictive legend.
http://www.sec.gov/investor/pubs/rule144.htm
4. Here is a link to a similar situation where restricted shares were sold into the market and the bad results for the sellers: http://www.finra.org/PressRoom/NewsReleases/2006NewsReleases/P017730
5. What we may have here is the perfect storm... illegal shares possibly sold into the market, rumors of the clearing house requesting the shares, legitimate grounds to deny the shares with legal claims and damages against the seller. Best of all is the seller will not want to go through legal discovery process and reveal that they illegally sold restricted shares through a shorting scheme. If these phantom shares cant be covered with the free trading shares, then where will the clearing firm find them to satisfy the DTCC and Reg SHO?
Can you say.... "Forced Cover?" its either cover or go to court to try and get them while having to admit you already illegally sold them! All speculation on my part...
Again, the next few of months may be very interesting indeed.
## CALM BEFORE THE STORM ##
Yes, fixed it...
Were just warming up guys...
Record earnings on the way and the massive short still remains.
New Chart
About the Beatles Tapes
Thanks Sterling. Your reply reminds me that I have a post to share. This is a response I made at the Fuego web site forum area.
As a long term investor in Fuego Entertainment... I think this may be the defining moment that I look back to in several years and note as the event that put Fuego on the map.
There is certainly much more to Fuego than the Beatles Tapes, but sometimes there can be a key event that will set off a chain of future events. I think we may be seeing exactly that... serendipity.
1) After talking to Hugo Cancio the CEO and Dan York the Investor Relations contact it's obvious that this event has unfolded exactly as they envisioned it. The high profile legal team was assembled before the tapes were ever purchased and they made sure that they were covered from every legal angle, well in advance.
2) The long-term free publicity being generated for Fuego through internet blogs, news sights, search engines, fan groups and now Apple Corp is in itself going to be worth the value of the tapes, even if never released. In the entertainment business controversy is an excellent form of marketing and publicity.
3) I'm very confident the tapes will make their way to the public in a legal, professional and tasteful manner. In doing so, Fuego will exploit every revenue stream possible at A VERY HIGH PROFIT MARGIN. I sure like that!
4) As mentioned earlier this event will lead to other things for Fuego and open doors to other revenue streams and contacts that they would not have had before. A great example is the web site banner advertising revenue.
5) The Beatles and Jimi Hendrix have driven millions of hits a week to the Fuego web site. Take a few minutes to explore all of the functions in this site. This is an untapped resource for musicians and soon the music tracks sales are going to sky rocket as content continues to be added.
6) Imagine the media coverage we will get from a courtroom battle over the tapes. Sir Paul McCartney, Ringo Starr, Yoko Ono Lennon, and Olivia Harrison all appear in court to testify before a judge! I believe that the company has in it's possession a poison pill that will simply destroy Apple's claims when the time is right. By that time every Beatles fan across the earth will be waiting for the release.
Cover now or cover later...
Touche'
This is heavy buying for FUGO.... considering we have gone multiple days without a single trade.
Another shareholder told me he has contact with someone who is buying heavy and is represented by ARCA at the bid.
FUGO volume coming in, spread tightening, revenues coming in and a decent short position will likely need to be covered.
Nice to see FUGO trading so proper... Now that it doesn't have all that ICE being dropped on it!
Next leg up for MSPD
Next leg up for MSPD
Looks Great! Go FUGO!
Extension filed with a earnings preview::
At 2/29/08 the Company had cash of $23,874 and accounts payable of $108,963. For the three-month period ended February 29, 2008 the Company earned, on a consolidated basis, $259,768, incurred operating expenses of $209,974, less a minority interest of $25,101 for a net income of $24,693. The Company also recorded deferred revenue of $223,659 based on a contract to be fulfilled by us during the next quarter.
The accounts payable is primarily money owed back to Hugo that he has personally loaned the company. This has been paid down fom over 250,000. The deferred revenue will show up next quarter.
Also, talked to Hugo and he said he is still waiting on his first report from online digital sales. It did not come on soon enough to be added to the revenues, but he will PR the totals as soon as it comes in.
This is a significant increase in revenue!
.<font color=green> Repost: The next few months may be very interesting. We seem to have a situation on our hands that just might result in a rather nasty short squeeze.
The following statements contain much of my own personal opinions and I have no proof that anything illegal has taken place.
1. On May 9, 2007, we entered into a contract with Var Growth Corporation (D.B.A. Ice Cold Stocks) and issued 875,000 shares of restricted common stock at $.15 in exchange for consulting services to be performed over a 12 month period from the date of the contract.
These shares cannot be sold until the restrictions have been lifted by the company. The $.15 was the value declared at the time of the deal but does not represent money paid for the shares.
2. Over the last six months many of the shareholder have been trying to piece together a puzzle. There has been a constant selling pressure on Fuego's stock at prices that are well below even the lowest averages and nobody knew where the stock was coming from. The answer would have to be someone who's cost basis was below these levels or a desperate shareholder. Only one name ever came up but he did not have free trading shares yet. So it would seem... Sure there have been sellers including one of our hedge funds, but we now have word that that hedge fund is a buyer at this low level and has been sucking up these shares for 2 weeks.
3. Yesterday it seems the company filed a restraining order in Miami's Dade County court today against Var Growth (IceCold Stocks) to prevent them from having the free trading stocks on the grounds that services were not provided as promised. A second lawsuit claims damages. This all takes place only days after yet another massive dump of shares on the last 2 Mondays.
Dade County documents:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28327482
rule 144 states.
What If a Dispute Arises Over Whether I Can Remove the Legend?
If a dispute arises about whether a restricted legend can be removed, the SEC will not intervene. The removal of a legend is a matter solely in the discretion of the issuer of the securities. State law, not federal law, covers disputes about the removal of legends. Thus, the SEC will not take action in any decision or dispute about removing a restrictive legend.
http://www.sec.gov/investor/pubs/rule144.htm
4. Here is a link to a similar situation where restricted shares were sold into the market and the bad results for the sellers: http://www.finra.org/PressRoom/NewsReleases/2006NewsReleases/P017730
5. What we may have here is the perfect storm... illegal shares possibly sold into the market, rumors of the clearing house requesting the shares, legitimate grounds to deny the shares with legal claims and damages against the seller. Best of all is the seller will not want to go through legal discovery process and reveal that they illegally sold restricted shares through a shorting scheme. If these phantom shares cant be covered with the free trading shares, then where will the clearing firm find them to satisfy the DTCC and Reg SHO?
Can you say.... "Forced Cover?" its either cover or go to court to try and get them while having to admit you already illegally sold them! All speculation on my part...
Again, the next few of months may be very interesting indeed.
Here is the Daily List link to watch for "E"s
http://www.otcbb.com/asp/dailylist_search.asp?DirectSymbol=FUGO&OTCBB=OTCBB
Curious to see if another large block goes off near close.
Almost filed, any day now.
Come on guys, lets close over .20 today!
Feel the squeeze!
someone got a clue finally...
Hill is the axe (controlling the bid/ask) and I suspect that is our short stature friend trying to manage the situation.
Yes, Sucks that there were so many shares available.
Let the covering begin.... 100,000 shares at end of day.
Per your message in my mailbox. That is fine with me.
Continue shorting below cost basis and carry the loss forward.