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I dont think it really matters. IWDM wants to be back on pinks, and they are doing everything they can to get there.
No possible way it takes this long to put an annual report together for a company that does less than $2 million in revenue.
It is really just a shame. Now the rumors and innuendo will win out. With IWDM no longer reporting, management, and investors imagination will run wild. We will not know how many shares they have recently diluted, we will not know what revenue is, we will have no idea who is running the show. We wont see 8K's we wont see 10K,Q's. We may however see fluff press releases and meaningless pumps.
One word of caution and advice. Be careful who you listen too, and never forget to sell. Don't get greedy, if you get a spike just know if will be short lived and will come no where near the pump of last year.
IWDM had a chance to legitimize themselves, but they took the path of least resistance along with a few million is shareholders funds.
Is it s a sell signal, when the upcoming catalyst is not what the Earnings report says, but just the fact that the company filed one?
Looks like it may be back to the pink sheets, non reporting. Maybe that is good, maybe now they will run another pump for the 30,000,000 shares the new insiders hold, and however many more they granted the existing insiders.
Either way I would like to know if revenue increased now that they are fully add supported, I would also like to know cash on hand. They had a chance to make this a legitimate company but they fully squandered that chance.
Close of markets tomorrow is the deadline for IWDM to remain fully reporting...Talk about down to the wire.
Maybe they should just come out and say if they plan to file or not.
It is a violation of the "Fair Disclosures Act" to willing transmit non public material information without simultaneously releasing it to the public.
This is an SEC violation (no matter for pinks), but not a criminal offense.
Insiders of a company releasing non public information is not a criminal offense, it is however a SEC violation. Therefore the SEC handles enforcement, and when you are a pink sheet company the SEC does not regulate of enforce you. Therefore all is good.
Now if the insiders used this information to buy or sell stock then you are looking at a criminal offense. If they are granted shares that is not a transaction.
No insiders buy or sell on the pump. They are typically not the first out on the dump either. They wait, and make sure they are covered legally.
Now the general public that is buying because they hear someone on the radio talking about it, is not a willing participant and therefore did not violate any laws, and cannot be punished.
Dont you find it funny that all the on air commentary about IWDM stopped when they went off the pink sheets?
Only if the hooker and her pimp knew that the information was privileged and non public.
This could then fall into SEC regulation and not federal prosecution. Not all insider violations are federal offenses, while they all are SEC violations. SEC cannot prosecute criminal charges, only violations of their regulations.
Why would I file suit against IWDM, I don't own any shares. Never have never will.
Since when is an investment opinion slander? You would think that would put all the analysts out of business.
It is not illegal at all for insiders to release information that they feel is true or possibly true. They don't buy stock based on that information they have already been granted millions of shares. They wait a few days a week or a month, let the suckers run the PPS up then they dump.
They did not dump based on the inside information leak, they dumped after the bag holders ran the price up because of the questionable information.
IWDM ran this play perfectly last year, and what is left is the either the greedy shareholders who thought there was always more, or the novice who does not understand how the game works.
Now the SEC frowns upon this, and firms who are regulated by the SEC are punished for this, since the SEC does not regulate pink sheet companies, no harm no foul for the insiders.
In the unregulated pink sheet environment, companies will use every mean possible to pump their stock.
For example go back to when IWDM was on the pink sheets in late 2010 and early 2011 and they used the airwaves and Bubba's show to create a frenzy and a run up in the PPS.
I think there is a big disconnect. We must realize that IWDM insiders and management want this to happen. This is how you run a pink sheet company, and this is how you make money even when the PPS is circling the drain.
If you are given shares for nothing, even .0001 is a profit, so until they run out of shares to sell, you will not see them do anything. Dont you think if they wanted to become legitimate they would at least file in a timely manner. Let alone communicate the business dealings with shareholders. Does anyone even know what UYR is adding to IWDM?
There is eventually going to be a rush for the exits, and volume to the down side will pick up.
Remember if they dont file and they do go back to the pink sheets, they no longer have to file anything with the SEC. They are essentially unregulated. That is when you will see insiders spewing information and starting to pump. It is perfectly legal then. So I would not be surprised to see some new bagholders created when they are officially back on the pink sheets. Question is what will the PPS be when that happens. Who knows....01, .001?
Well Good Luck to you, and hopefully its just play money...
Even if there is another pump, which I believe is doubtful, it would not have the same magnitude of the last one since there is now over 60,000,000 more shares outstanding.
But anything can happen...But in reality they probably would have done something already its been well over a year now. Maybe insiders are waiting until IWDM is trading under .01 to initiate the pump. Buy in at .01 and a pump to .05 is a 500% return.
IWDM is showing people what going for broke really means.
If I was a shareholder, I would demand an accounting for all the "debt" repaid with stock. What was the amount of debt converted and how much of that "debt" was was services rendered.
That is probably a MM...No way a retail investor would pay commission on $4.20 worth of stock.
Maybe after hours for the financials...Lets hope. I want to read this report, first full year report since IWDM has repositioned itself and brought in live talk.
Even the garbage penny pharma companies have for the most part all filed 10k's so I cant see why IWDM has not.
Case in point...This is not new technology, as you will see there are multiple company's that are available direct feed to your car or other device that does not require a cellular signal. Why wont IWDM do this, why not spend the $900,000 from Early Enlistment on this, instead of giving away 30,000,000 shares for UYR sell those shares to raise money to get radioIO out to the masses. The technology is already here, companies like Clear Channel, Pandora, and Spotify are already using it.
Simple answer is greed, the insiders like the way things are and the amount of money they make selling zero cost shares.
IWDM states that new technology is on the horizon. I wonder how far ahead everyone else will be when they catch up to where the real players are today.
Dont buy penny stocks, there is a good system.
Technical analysis is a wonderful tool, it just does not work for pink sheeters and penny stocks like IWDM.
Sure...Let me know when technical analysis means anything for a pink sheet stock...
There is not one group or individual or program that buys in volume using technicals for a penny stock like IWDM.
PS there was a cross on Jan 23rd as well. IWDM was trading at .08 then, where did we close today?
I doubt it will happen. I dont think IWDM is serious about doing anything in regards to cleaning up their books, and cleaning up the shares. I think the management and BOD are happy with the pocket change they generate and will keep doing the same old same old until the money runs out.
IWDM has had a chance to prove this theory wrong but in the past year they have done nothing to increase shareholder value, and they have been eerily quiet when it comes to communicating with shareholders.
Also I dont think IWDM has enough cash to actual put in place a reverse split.
A share restructuring to a more manageable level would help. Also IWDM needs to prove they can grow revenue.
Maybe tomorrow for the financials....Maybe
At what Cost? If IWDM goes out to raise cash they are going to further dilute the shares. Basically Death Spiral Financing...But again that is what Pink sheets stocks do so it would not be all that surprising.
The Most Likely scenario is that service performed or provided by insiders (rent, accounting, and any other number of things) are being provided at no cash cost, but in return this imaginary debt will soon be converted to shares with a $0.00 cost basis which once sold at any price reaps the insiders money.
Rinse and Repeat.
Why keep these things secret? Would it not benefit IWDM for them or anyone to broadcast and throw these very important facts to the public?
If all these good things are happening, how come no shareholder updates, or new releases?
Why would a company or its investors want to keep information secret? That is something that I cant get my arms around....
Every IWDM filing since 2006 has a going concern clause and statement. Which by definition means that their auditors have doubts about the company staying in business.
Also are we to infer that people are acting upon non public information about IWDM that has been disseminated to them? How else would a non insider know things that are not public information?
There has been a tremendous amount of dilution done to this stock, so any work needs to be increased exponentially just to keep up. End of 2010 108 million shares, today 163 million as of end of Q3 2011. We dont know how many now since they wont release the most recent filings. Simply put for every $1.08 of revenue IWDM brought in 2010 now needs to become $1.63 just to stay even. That is an increase of over 40%.
So if IWDM is doing so much work, why throw it all away and go right back to the pink sheets. Even if they do file on time (3 days left) they have lost all credibility. No investor worth their salt will ever take a position in a company such as this, especially one that refuses to communicate with shareholders.
Apps? What is an app going to do? An app is just another way for the existing subscribers to access the same content. How about marketing, how about building a sustainable business? How about communicating with shareholders, and filing reports on time? Also where is this app? IWDM has not announced they are working on one, so this is just here-say from a radio show right?
The market does not seem to share that opinion, and in fact if you look at the past few months to a year, the market thinks the exact opposite. In the end the markets opinion is really what matters right?
Patience is definitely needed since we still have not Q4 or annual report. How many more shares did IWDM issue in Q4 to cover expenses?
Not a whole lot of "scooping" going on. IWDM has traded $400 worth of stock in the first hour.
In my opinion this is not a sign of things to come, and "patience" is probably not going to pay off.
Maybe today is the day we get filings?
The key phrase is "going for broke", in more ways than one.
IWDM is a broken stock, technically and fundamentally, and broke is a very real possibility since there seems to be no real desire from management to release the full year and Q4 financials.
No investor has every made money using the scoop them up while you can method.
In my opinion IWDM requires a much more cautious approach. It would be foolish to "sccop them up" just days before IWDM is about to become a non reporting company and venture back to the pink sheets. That would not be sound fiscal policy.
Until you see $100,000 + value days, the volume means nothing. Taking a few thousand dollar position is people just looking at a lottery ticket and a quick flip.
When you see 500,000 share blocks filled and positions of $50,000 + being filled then you will know something is up. Good Volume for a pink sheeter is in the millions of shares per day.
Maybe someone saved some cash on IWDM because of something I said...Although learning the hard way is sometimes the only way to really learn a lesson.
I have a hard time seeing another pump for IWDM in its current structure. There are just to many shares and the market cap is too high. I really feel in order to get a true pump where money can be made IWDM needs to trade around 2x revenue or $0.025 ish...
We would have seen the SEC filing last week if they requested and were granted an extension to file. That is something that initiates an 8k. Since we have not seen that either IWDM is bringing it down to the wire, or they are happy to go back to the pinks and happy with being a non reporting company.
Either way IWDM is showing no respect for their shareholders, no company that wants to legitimize itself would delay this long. Retail got scammed into pumping a million into a few pockets, and they are now left holding an empty bag. A few insiders got a nice pay day, and now they can slowly unload the millions upon millions of shares they have been granted. With a cost basis of $0.00 on most of the shares its free money.
Wall Street looks at this, and how could any credible investor ever be persuaded to invest in a company that does not communicate with shareholders, and does not even have the decency to remain fully reporting for more than 3 quarters.
It did take IWDM 6 years to file the 2006 annual report, so they may be back to using old timeframes.
They need to come sometime before the end of next week or IWDM is no longer fully reporting, I was just hoping for them today. Some light beach reading for the weekend.
Looks like a no go on getting filings this week. Next week is the deadline in order for IWDM to remain fully reporting. Then they have to get right to work on the Q1 filings.
What is the problem, this is a company with less than $2,000,000 in revenue it is not difficult to get some financials done?
You cannot blame IWDM management for what is happening. They set out to maximize their profit, and they did it at the expense of the investors. The justification is that they are the largest shareholders so why not.
Any IWDM shareholders want to demand an accounting for all the "debt" that was converted to shares?
IWDM insiders played the game well, and investors should have known that. Caveat Emptor.
My guess, out of the 163,000,000 some odd IWDM shares out there, probably 30,000,000 are not owned by insiders, and associated companies of insiders etc...The big question should not be how many shares are owned by the insiders, but out of those shares how many were straight up grants, with $0.0 cost basis.
Through Filings I think you can account for close to the whole 130,000,000 in insiders hands.
10,000,000 - Bubba
30,000,000 - for UYR
16,000,000 - recently exchanged for debt per 13D
Now from last years 10K
On April 19, 2006, the Company issued 540,000 shares of its common stock to each of the four members of its Board of Directors as compensation for services. 2,160,000 shares total
On May 9, 2006, the Company issued 790,770 shares of its common stock to a vendor in exchange for a reduction of a portion of the amount owed by the Company.
On May 16, 2006, the Company issued 1,000,000 shares of its common stock to Redwood Consultants, an entity engaged to promote the Company to the investing public.
In January 2007, the Company issued 31,067,567 shares of its common stock to related parties in connection with the conversion of debt. Entities controlled by John Stanton received 25,067,567 shares and entities controlled by Thomas Bean received 6,000,000 shares.
In January 2008, the Company issued 12,500,000 shares of its common stock to related parties in connection with the conversion of debt. Entities controlled by John Stanton received 2,500,000 shares, entities controlled by Thomas Bean received 7,000,000 shares and entities controlled by Alex H. Edwards received 3,000,000 shares.
In January 2008, the Company issued 1,250,000 shares to vendors for services rendered or a reduction of a portion of the amount owed by the Company.
In April 2010, the Company amended the Articles of Incorporation to increase the authorized common shares to 250,000,000.
In June 2010, the Company issued 16,000,000 shares of its common stock to related parties in connection with the conversion of debt. Entities controlled by Thomas Bean received 10,000,000 shares and entities controlled by Alex H. Edwards received 6,000,000 shares.
In June 2010, the Company issued 2,000,000 shares to vendors for services rendered or a reduction of a portion of the amount owed by the Company.
In June 2010, the Company issued 3,745,000 shares of its common stock to the holder of a convertible note payable in a partial redemption of the note.