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Well, how you just described it, that IS the correct [and smart] way to play these penny and sub-penny tickers. You're right, and have done that in the past.
But, I held --- and bought more when it went back down (I know, I know not smart). I have now stopped buying about 2weeks ago, after I accumulated a healthy "round" number. My average now here is .0013.
I don't know, I just have a feeling about this one.
Right now, I feel like the kid sitting on a stool in a classroom with a dunce cap, holding 2large bags.
Hoping in a year to feel like .... can't think of a metaphor now, but not like that kid.
In his defense, and he certainly doesn't need me to jump in, but playing Devil's Advocate:
I've been here since March, and I know there are many on this board who have been here longer, Atina is one of them.
My entry point was in the .0024 to .0026 neighborhood, so I know that his has to have been higher.
During this slide, many have been buying more shares to average down, including yours truly ... and Atina. And when it hit trips, I bought a bunch more (about half of what I'm holding) & he did also. Don't know how many exactly, but he's sitting on a lot of shares -- and he was a big supporter of MMEG ... his previous posts will support this.
What we're hearing from him now is nothing but frustration and anger. Best to let vent.
Eventually, things will sort themselves out here. As long as the quarter over quarter 10-qs continue improving, and revs increase (which will off-set themselves with the Goodwill debt during tax time), we'll be all right.
MMEG is about 2 to 3 acquisitions away from achieving their plan; then it's "building them out" time. If this becomes the revs/profit vehicle we believe it will be --- then I also believe that they will deal with this SS.
A Long's gotta have a strong stomach here, and mine has been in knots sometimes. But, hopefully those who stuck it out during this bad time (it's easy to stick it out during the good times) will be handsomely rewarded.
That's my hope anyway. GLTA!!
Now, where's my Tums?
Checking in late today and catching up.
I like the chart, and it certainly shows accumulation, but it's the latest trading action that is concerning me. Yesterday we had more "buys" than "sells" -- around 88mill shares bought opposed to 15mill sold. Then in the last 60seconds 2 sell trades at .0003 totaling 95-ishmill shares!
That, I believe set the tone for today, and there were more sells ... and to top it off, again in the last 3mins in multiple orders around 88mill shares were sold (dumped).
This ticker can't sustain those kind of EOD hits for very much longer.
All this after the release of the 10-q, which was better than the last one, nothing unexpected, and it seems they're continuing with their [growth] plan.
I know shares are the currency for these acquisitions, and we're providing the financing, but there are just too many shares out there.
Hoping for better trading tomorrow.
Agreed. A lot of .0004s bought today, was hoping to end the day in the 5s. But, I did not expect the amount of EOD sells at .0003 -- a bit disheartening.
What came out in the 10-q is what I expected, and Blackfox was not factored in it.
I would imagine the Ask will "stack up," tomorrow -- again, and hopefully the remaining .0004s get bought and we enter the .0005s. The OS was a bit more than what I anticipated (I thought around the 2.2B range). Just shows there are a lot of shares are out there and a lot to go through. It's going to take some substantial PRs/news to move this PPS.
Q3 will be over in roughly less than a month-a-half. We have to accept, if it's going to happen here, it will be slow'n'steady . . . and sometimes frustrating.
Still holding & hoping.
Well Skipper, you and I differ in our opinion in regards to MMEG and what's going to happen in the future. I may be biased because of the $$ I have in here .. but there are so many things happening here (aside from this dilution), that MMEG has great potential; but it's going to take time, and I believe the 10-q Q4 (10-q Q1 '18 at the latest) would finally show a completion - or near completion - of this puzzle and we can finally get an accurate clearer picture.
Now, in the present, I can't counter or dispute your argument/analysis much because of this [substantial] drop in the PPS.
But, I believe this will turnaround, and I hope you're still invested when it happens -- and we all make $$$.
It's going to take a lot more than a differing opinion to pull that "Ignore" trigger.
Thanks and GLTY too
Thank you Fox -- and I got your PM. No need to explain -- I know what you meant.
Exactly, just doing a cursory reading of their filings and other D&D, one sees this will take time, and the 10-qs are huge. If this is gonna work, each 10-q needs to improve (outlook, revs, profits, expenses, debt, etc) from its predecessor.
The next one should be out Tues or Wed, let's take a breath and see what it says.
I rarely get to say "I told you so" ... I hope MMEG becomes what we believe it will be, and the critics "stick it out" and make a ton of $$$, and they have to accept our I told you so's!
This stock still has me stressing out -- but still hoping and holding firm.
I bought into MMEG in March with an entry point of .0024-.0026. I did some DD and read the DD already done by some great posters here on the board. I really liked the potential here. Reading their filings I understood this is a "buy&hold" stock. Something I don't like to do in pennyland, and I'm not savvy enough to consistently "flip" tickers. I bought a modest and decent amount - and became a Long. I realized dilution was coming but I saw that Chimera Games & Poolworks deals had closed, so I saw the dilution was an important part of their acquisition plan. More LOIs were announced (Neurofuse & Blackfox) and confirmed to me MMEG was sticking with the plan. I knew it would be the Q4's 10-Q that would really paint the picture of what we have here.
The dilution began, and as expected the PPS dropped, and I had set aside $$$ to pick-up more shares when that would happen to increase position and average down. I thought it wouldn't get below .0014-.0015 and bought a lot there and average down to around .002.
The dilution continued and the PPS continued dropping (I did not like that...who would?) right into trips. Then everything became massive .. massive hitting of the Ask & the Bid, massive volume. And I picked up about half my holdings in tripsville and averaged down to .0013. And now the Blackfox deal is finalized! Though my "quesstimation" of the scale of the dilution and the PPS drop was off, my timetable of the Q4 10-Q still holds firm a for answering questions, particularly in regards to Revs/profits.
The 10-q for Q2 is days away, and the critics are on overdrive(?). Wait and see what is says. Crying a river on this board about how you're entry 1-2weeks ago at .0009 now lost half it's value to people who have been here 6-8months and their entry point was waaaay higher [I would love to have averaged down to .0009!!!], is a bit insensitive. I know some criticism is good and only contributes to digging for more information and DD, but some gets ridiculous (I'm not great at analogies, but it's like a guy complaining about a dislocated shoulder to a double amputee).
This is still a high risk investment, still a lot of work that needs to be done AND a lot that has already been done; and MMEG still has a lot of potential. Revs/profits are the only key here (along with fixing the SS after all is said & done) and I hope things work out the way I believe they will and the PPS climbs ... and the board becomes snowflake free. If it does not .... I will have to button my lips and take the "I told you so's," and apologize for calling the snowflakes, snowflakes.
Thanks Fox, and that goes double for you & Marxbys. I try not to be too "excited" with my predictions (hopes) re: the PPS.
But, I certainly hope a couple of those zeros will be shaved off on the right side of that decimal point in the next 6-8mnths.
NOW would be a great time for them, since it appears the dilution has abated. But, I think most of them already showed up & bought up. Remember those crazy [and huge] buys a couple weeks back? Mixed with a couple of days of manic EOD buying. Certainly was fun to watch.
However, I think there are still a few stragglers "hanging around," and like the Skipper, are waiting for the 10-q. If they like the 10-q, and this dilution period has indeed stopped --- then look out.
I just hope this PPS can inch up to .0007 - .0009 before it's released next week.
Nice job ... for many of us Longs, where our entry point was much higher, that's all we've been doing since we entered Tripsville. GL!
Yup Foxy. The more one reads the tea leaves (ie. DD & and thanks for your work on that part), the more realization of the time it's going to take.
I figure Neurofuse should be the next announcement. From reading up on that product, if acquired, MMEG should try to streamline the production and cut the cost [say $49.99 for example], and improve customer service. Those are the two biggest complaints I've seen.
Then I believe another networking site is a possible acquisition ... then IMO that's it. Then it's BUILD OUT the business time and have these different ribs of the umbrella work together (synergize is the term Kurt used).
Get the portal working, OTT, expanding customer base, increasing languages, etc. It's going to take time -- more than I originally "guesstimated." This Company is going to either live or die based on Revs & profits. I am betting on the former, and am sitting on a ton of shares as a result.
We knew dilution was coming, but just speaking for myself, I didn't think there would be this much carnage. I am surprised (impressed is more accurate) on the accumulation that's happening.
I hope-against-hope that if everything starts to work out here, and $$$ is coming in at a good clip, I would love it if MMEG could re-negotiate their deals and pay off their debts (with the 8% interest) rather than go through another dilution phase.
And as Marxbys knows what's close to my heart, with some of their profits -- tackle the SS with a buyback & retirement of shares (that would just be perfect).
Nice, I too have my 2week notice all ready to go --- but, not anytime soon. I have my fingers-crossed for this time next year.
GLTY
Hey Marxbys, thanks for the PM a couple days back (I don't have PM). Been away on a little R&R with some family & close friends.
Got back last night.
Catching up now on days of posts & news. Great to hear about the closing of the Blackfox deal --- certainly was hoping we'd be over .001 when that kind of news would be announced.
Looking forward to the upcoming 10-Q.
(there certainly have been many posts these past 4days!)
Hahahaa, you know me well --- I hear "share buy back" or "share reduction" (and we know the CEO has said he will not entertain a R/S), and I get entranced.
Aside from having a close to $470mil traded volume .. it was those two that stood out.
Either these were trades from earlier in today's session that didn't finalize until later in the day (I don't believe that),
or,
what we've been seeing here for a month are the t-trades are used by the MMs to trade with each other. 2 big trades EOD, the smaller one for 20% over the closing PPS and the bigger one for 60% over!
The sellers today may not be bullish on MMEG, but the MMs apparently are ... and they DO understand what a reduction in capital means.
Thanks Marxbys...Criminy!! All the reasons given for a 'reduction of capital:'
•Create distributable reserves.
•Return surplus capital to shareholders.
•Facilitate a buyback or redemption of shares.
•Distribute assets to shareholders
Are all great reasons for shareholders! Today was an ignorant sell-off (if it was based on this) -- unless you're a daytrader or flipper and locked-in profits. I will never criticize one for making $$. But, if one bought high and sold low, then you're destined to chase.
This is a totally different company that your average OTC play. Make sure your DD is solid and you're comfortable with your investment . . . and for the short-term, you're gonna need a strong stomach. All my "jokes" about Tums, Mylanta, Maalox, are no joke -- they're for days like this.
I was already anxiously waiting for news, which I believed was going to be Neurofuse and/or Blackfox related. Given the reasons above ... it could be that, AND possible LOI of another social networking site rumored before, or share buy-back, ... Christ, where's my Tums!
Man, I step away today thinking volume may pass 400mil - come back and pow, over 700mil, and PPS drop ... AND 2 EOD t-trades of about 85mil were bought over the PPS close.
Catching up on posts, and I think you're right about the AS. This dilution is exhausting, but we should get news (either thru a PR or an 8-k) re: acquisition(s). Could it be both Neurofuse & Blackckfox in one shot?
I guess it's time stock up on the Mylanta & Tums again.
Yup Pooky, I agree. Many shares were bought in the 4s, 5s, & 6s. When strong volume started, many more jumped on to "ride the momo."
Now that momentum has waned, people are selling to cash in their 20%, 25%, 30% profits. I understand, the goal of investing is making $$.
Though some have made $$ flipping MMEG, it is not a flipper. There are long-terms plans & goals here.
If one is interested in MMEG, one should do some quality DD and if they like it and are still interested, they should buy, know what they own, and HOLD. I didn't buy-in to see what it could make me at the end of the week, next week, or the end of the month -- rather, where it will take me next year.
It is a high risk penny, and yes I could get clobbered here and be put in the outhouse. But, IMO (and hope), it will put me into a nicer [paid-off!] house and out of work.
GLTA!
Back in April, the OTC showed 1B A/S, a little over 200mil OS shares, and a float of around 1.5mil. And the average daily volume at the time was around 16-22mil.
I emailed the T/A for an accurate number, and the response I received was exactly (I think also word for word) what you got.
I emailed the Company, and about 2-3days later, the OTC was updated with the numbers you have (except the A/S was at 2.5B).
The 10-Q should be out in a week, and it should contain a more up-to-date SS.
Oh no --- VNDM & BMIC are back... I thought they were done & wouldn't see their walls until Nov.
Ahh, now, after reading up on this -- I understand it better ... thanks. No doubt as new investors (or potential investors) get here, they'll be reviewing the filings and this topic is gonna come up again. I'll mark your post and refer the newbies to it.
I thought I was going to sleep well tonight (last night I was a bit restless) ... but today on the board, it was posted that rumor was "whales" will be visiting tomorrow.
As the product itself - alone, it rates Ok compared to its peers. There are many low ratings for: cost & customer service, otherwise, IMO it would be in the 6/7, maybe 8 realm.
Many don't like the monthly re-curring charges, and customer service's lack of prompt response in stopping the re-curring charges (and re-crediting the credit cards).
Also, the cost ... once the acquisition is complete, if MMEG could streamline the product line and possibly re-brand it at, say $49.99 -- IMO that should fix that issue.
Hard to find 9/10 because those type of products effect people differently.
Thanks GunShow ... this was talked about quite a bit last month. I tried to follow, but just couldn't quite "get it." Like Fox said earlier, Marksbys was heavily involved in that back 'n' forth, and he had a good handle on it.
I had to google it several times to understand, but still wasn't 100% sure; and the topic came up a couple more times, but I opted not throw my 2cents.
It seems as more people come here, they do their DD and check the filings, and that subject is consistently brought up.
A lot of new people been arriving here lately, and more to come -- so I assume this $40mil "loss" number will be mentioned again. If Marksbys gives that explanation a "thumbs up," I'll just mark the post and "cut 'n' paste" for future use.
GLTY!
Phew, thought I misunderstood how it works. Thanks Foxy, it means a lot coming from you.
Yup, wonderful opportunity indeed!
Somebody who's more knowledgeable regarding this, please correct me.
How I understood this, when Momentous acquired a struggling Poolworks, they acquired it with a $40mil "Goodwill" debt. On the books it may show as a loss, this is how a Goodwill debt is handled:
http://financial-dictionary.thefreedictionary.com/goodwill
Man, a little over $600k in traded volume today! Seems to grow every day.
On Wed the 9th, a $25,000. note is set to convert, and most probably will be traded (dumped) on the 10th. Even if the volume drops 50%, but the PPS holds firm or goes up a tick or two by then, those shares will be absorbed in the first hour of trading!
I don't want to "jinx" this, so I'm typing with fingers-crossed. I know many have been here much longer and their entry point is higher here , but I bought in the .0022-.0025 range back in Mar., and like you - I've been averaging down ever since.
My average cost now is .00135 ... doesn't seem so far off as it did 2weeks ago huh?
However, in the process, I ended up with a ludicrous (as Dark Helmet would say) amount of shares.
In a year, I will either be sooo grateful for our time spent in "tripsville," or kicking myself repeatedly for breaking all of my self imposed investing rules.
Hoping for the former.
Yesss, I believe you're right. A lot of new investors here these past several days, and it appears more to come ... our .25 Vegas party and Hangover Island trip just got larger.
Yup, I'm sure some are saying "I shoulda grabbed more cheapies in the 4s, 5s, 6s."
Looking forward to when they start saying (hopefully next week) they shoulda grabbed the cheapies at .0012, .0013, .0014
Nice!! 5 days in a row of great volume, and 4 days in a row of 20-25+% gains. Nice & stable --
I can't wait for the day when [hopefully] all is said and done here, and revs/profits are what we believe they will be .... and MMEG then deals with the SS.
And before a wiseguy responds "R/S," I'm talking about the buying back & retiring of shares. I know, that's way down the line and alot of things have to happen first. But...
Just holding, hoping, and finally enjoying (it has been a while) the activity here.
Another great day.... Ask getting hit, and good Bid support.
A [pre-10q] PR with good news, can probably almost get us out if the "teens."
And I saw on the top of the iBox, MMEG has picked up about 70 new followers since Thursday, standing at 395. It was at bet 318-322 for quite a while.
On Aug 9th, a $25,000. note is set to be converted ... most likely they'll be sold (dumped) on the 10th.
This looked ominous about 3weeks ago. Now, with this interest and volume(!), they'll be "taken out" in less than a day. IMO
Hahaha, you too! I thanked you before, but thanks are in order again for your DD postings. It's really helping new "eyes" here get a clear picture on what is happening and pointing them in the right direction in their own DD.
Holding fast at #1 on the BB. Number 2 is behind in its filings and listed as Delinquent & 3 is waay behind and it shows Dark or Defunct.... both w/Stop signs.
Much more comfortable with my investment here.
Got home late tonight, got together with some friends (some of whom are gonna visit and read up here and dip their feet here Monday or Tuesday). I was also sort of semi-practicing for Hangover Island.
Phew, just checked and finally went through a lot of these posts. Definitely more excitement here now than when were much higher moons ago.
GLTA!
Agreed -- there certainly is. Though it was expected and I prepared myself, this dilution phase has my stomach in knots.
My average is .0014. I jumped in at the .0022-.0025 range. I "averaged down" in the teens (thinking that would be the low.
The big reason my averaging down price reached .0014 was because of being in the trips.
Anyone who ENTERS in the trips is very fortunate. And hopefully, in time -- will be "pleasantly surprised."
This is a bit dated (Mar 15, 2017), but the analysis by the Incubator Stock Review is a big reason why some of us are longs.
And now MMEG is #7 on the Most Read Board, #2 on the BB, and prominently displayed on the Buzz Cloud ... lots of attention here. It's been a long time since the board was this active on a weekend.
Monday would be an optimum time to take advantage of all this, with the release of a juicy & substantial PR.
I never thought I would say "this weekend is dragging."