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This was posted on the speaker list for the upcoming conference.
Craig Macdonald
Microsoft Advertising
Senior Director
Meet Craig at:
Panel: Search Insider Feud - How Search Changes Your Voice
Date/Time: April 23, 9:30 AM
Join us for a Search Insider spin on the classic Family Feud game show. Our moderator will channel Richard Dawson and lead contestants through three rounds of questions and answers based on actual survey results. Through this innovative format, we will address whether voice search will lead to the end of keywords and how search marketers market in a keyword-less world, and more. Not many can argue the smaller screens and audio inputs make voice a more intuitive and efficient way to navigate through apps and searches. How will voice search and the new crop of digital assistants, such as Siri and Evi, change search marketing, and imperatives for marketers seeking brand integration with the mobile experience.
Low? You mean high? Franchise tax is approximately .25 cents per $100 of the either the book value of assets or net worth which ever is highest. Plus it is apportion between ever state that they do business in. Meaning they may only pay on 1% of there minimum measure amount to DE. It all depends on activity in that one state.
I agree with you, the tax issue is really not important. I say this because this report is not a real time report. Companies a lot time are late filing quarterly payments for various reasons even when a CPA firm is handling the filing. Again I don't see franchise tax as being a big deal. It is based on a 3 factor percentage calculation, sales, payroll, property. I sure don't see how they would even owe any tax to Delaware. Do they have an office there? Do they have employees living there? Do they have destination based sales there? If the answer is no then they do not owe franchise tax in Delaware.
I would say until we have proof otherwise, I would have to say the $7,000 estimate may not have been paid yet. But, we don't know when the tax was due to be paid since it all depends on their FY ending date.
It was reported to me by RoagTrader that the 2011 annual report was filed in Delaware only the quarterly taxes have not been filed or paid.
This same type of report for New York shows "Active" status. Usually if a corp has not filed annual reports this status would show "Inactive" or "withdrawn" if charter has been revoked.
Selected Entity Name: ATRINSIC, INC.
Selected Entity Status Information
Current Entity Name: ATRINSIC, INC.
Initial DOS Filing Date: DECEMBER 18, 2008
County: NEW YORK
Jurisdiction: DELAWARE
Entity Type: FOREIGN BUSINESS CORPORATION
Current Entity Status: ACTIVE
Selected Entity Address Information
DOS Process (Address to which DOS will mail process if accepted on behalf of the entity)
C/O CORPORATION SERVICE COMPANY
80 STATE STREET
ALBANY, NEW YORK, 12207-2543
Chairman or Chief Executive Officer
STUART GOLDFARD
469 SEVENTH AVENUE
10TH FLOOR
NEW YORK, NEW YORK, 10018
Principal Executive Office
ATRINSIC, INC.
469 SEVENTH AVENUE
10TH FLOOR
NEW YORK, NEW YORK, 10018
Registered Agent
CORPORATION SERVICE COMPANY
80 STATE STREET
ALBANY, NEW YORK, 12207-2543
I think that they are only delinquent in paying the last quarterly estimate. The Franchise tax is an annual tax but must be paid quarterly based on prior year tax liability which was about $35,000.
Corp name search for Delaware corporations
https://delecorp.delaware.gov/tin/GINameSearch.jsp
Annual report for 2011 not yet filed is more of a clue to me of something going on than late on filing their quarterly Franchise tax. The tax could have been paid already, since these reports from the Secy of State offices are not in real time. Most corporations keep their annual reports current. These reports cost usually less than $100 to file. If a corporation becomes delinquent they will not be able to get a tax clearance letter which is usually required when filing for loans or I would think attempting to complete a sale of the corporation. The buyers would want to make sure that all taxes have been filed before closing on a deal, otherwise they would be assuming the tax liability.
https://delecorp.delaware.gov/tin/controller
This document in which someone paid $20 is for the state of Delaware, Franchise tax. It shows that the annual report for 2011 not yet filed and quarterly payment of $7,146 is now due. Not a big deal if they are about to merge and then close the corp charter anyway. They would have to pay the taxes in order to get a tax clearance from the state.
Ok thanks. Property taxes was not that high even in NY. Since they rent they would only owe tax on personal property, like copiers and computers. I posted a reply regarding this tax delinquency the last go around. The guy said it was DE taxes and I said no way this is true.
True, property taxes are public. You can look up property taxes on any house or business you choose right on the Internet. I'm talking about state and federal income taxes.
This is was reported once before by bassilious that it was Delaware taxes due in the amount of $180,000. So, what State are we talking about? I don't doubt anything that Dr Penny said except this tax delinquent bill. There is no way a state will release tax delinquent notices to anyone.
From: bassilious
Saturday, April 07, 2012 11:41:12 AM
Re: Chag post# 86811
Post # of 90816
There's 180k in taxes to the state of Delaware that havnt been paid, yet goldfarb fong and Sharon Siegel got hefty bonuses worth more than 180k lol. I feel like they're delaying for something..
I don't have problems with what Dr Penny is doing, but I just don't believe this fact about not paying taxes in DE. All corporations pay income tax based on where they do business. NY and maybe CA are the states where ATRN does most of its business that is owns property and has payroll. You apportion your income between states that you have nexus in. Unless they have a lot of personnel and property in DE then they would not owe this state income taxes. I also know that states will not release tax delinquent notices to anyone unless you have a POA. Now if a State is attempting close down a business and has filed public liens to settle a tax bill, then there is NO way you can tell me that someone paid $20 to get tax delinquent information. Believe me I know this.
Why incorporate in Delaware? The initial charge for incorporating in Delaware can be as low as $89.00. The annual franchise tax can be as low as $75.00 in many cases. The cost of continuing operations is low as well. There is no Delaware corporate income tax for corporations that are formed in Delaware so long as they do not transact business in Delaware. There may be significant federal tax advantages to incorporating as well. Shares of stock in Delaware corporations are not subject to Delaware taxes if the owner lives outside the state. One person may act as President, Treasurer, Secretary and sole director. With Delaware Intercorp’s no fee incorporation, the cost of doing business as a Delaware Corporation is affordable.
These are some very good reasons to incorporate in Delaware:
Different kinds of business can be transacted under one corporate roof.
Shareholders can act in writing instead of holding meetings.
You can add people to the board who are not shareholders.
Corporate records need not be kept in Delaware.
One person can act as the only officer, director and shareholder of a corporation.
No Delaware income tax is charged to companies that do not do business in Delaware.
Delaware has no sales or personal property tax.
Low franchise tax, $75.00 in many cases. $250.00 for L.L.C.’s
I would like to know why and how could they owe DE tax. They have no minimum corp. tax in DE. They would only owe tax in DE if they own property, pay rent, sales, or payroll in this state. How could they possibly owe $181,000 in taxes. Not possible!
It is fact. Average .34 cents xxx,xxx shares
Dr Wright should offer free membership for ATRN holders. Still undecided about releasing my shares.
The fact is Tiger has not removed Fuse from his bag. The fact is I bought at .25 and have lots of cash invested and will make money in the long term.
Might be a connection to The Orchard. They are headquartered in NY.
http://www.theorchard.com
Oh well, I tried. I could not under stand a word he said in video
Could this be pic of Nathan Fong on vacation? same middle initial "y"
I say no not yet. Google was not and could not say the were buying Atrn until there was a PR release. It is still a hush hush subject.
Glad the stickies are coming back.
Thanks.
The run from pennies to $1 was good and I made a little. It dropped to .25 because of a short promotion I forget the guy's name. I have been buying since .25 up to about .35. It ran up to .45 the day before Tiger played in the masters. He didn't do good so those investors go out. The PPS is steady at .31 to .33 now days. As soon as the drops are released this stock will make another run. Check out all of the PR releases the last month.
Glad I found this board. Came over from Atrn as a long holder now with lots of mental problems. That stock causes a lot of stress. I opened my stock account back in December for one stock purchase that was DROP.
http://fusescience.com/
This is a startup company that is backed by lots of strong management and board members. The main product is about to be released soon. Check it out sometime.
Now that I read it I don't think they are pushing DROP again. They are just saying a new pick is coming Friday. They are using DROP as an example.
I think I found it here. Not sure if this was why DROP ran crazy the last time. I rather see DROP just make a slow climb to a $1+. But if we see a huge increase in volume this might be why.
http://www.xtremepicks.com/archives/4838
I heard something about a unpaid promotion coming Friday at 3pm recommending DROP. Next week we should see high volume. Hope it does not run up to $1.25 again.
True statement. I have been in this stock since Dec. averaged all the way down to about .34. Yes, I'm holding long term. Sure I'm sitting on a lost for now but it will be erased soon.
News just hit the wire....
Peter Klein's Overview from Linkedin....
* Strange his Facebook page list Atrinsic was work but not Linkedin...
Current
SVP, Media Services at MediaWhiz Holdings, LLC
Past
General Manager, MonetizeIt at MediaWhiz Holdings, LLC
Director of Affiliate Marketing - RocketProfit at Hot Rocket Marketing, Inc.
Manager of Product Development & Strategy – Optimum Online at Cablevision Systems Corporation
see all
Education
Cornell University
Thank you for your DD. this sure helps a lot for me.
David also tweeted "In a good mood this AM" then posted a link to the song on You Tube. How can he be in a good mood?
Great post Buckhunter. I have not for 1 minute lost faith in ATRN doing everything by the book. We are not talking about a shady company like some people might now believe.
Nathan Fong was CFO of The Orchard (NASDAQ: ORCD), and he was working during the acquisition by Dimensional Associates, LLC, the New York-based private equity arm of JDS Capital Management, Inc. and the majority owner of The Orchard. So he has done this before and should be trusted and even Goldfard said that he was the right man for the job at Atrinsic. I think this ORCD deal was closed around July 2010, shareholders received $2.05 per share of ORCD.
I just find it hard to believe that we are not looking a some type of acquisition in the near future. Just hope it is soon.
They all were on the website this weekend
Apr 09, 2012 (Fast Lane via COMTEX News Network) -- Below are the three companies in the Advertising industry with the highest Revenue Per Employee (RPE). Analysts use RPE as a measure to compare the productivity of companies in the same industry.Clear Channel Outdoor Holdings (NYSE:CCO) is highest with an RPE of $1.5 million. Clear Channel Outdoor Holdings, Inc. is an advertising company. The Company offers advertising opportunities through billboards, street furniture displays, transit displays, and other out-of-home advertising displays. Potential upside of 38.1% exists for Clear Channel Outdoor Holdings, based on a current level of $7.89 and analysts' average consensus price target of $10.89. The stock should run into initial resistance at its 200-day moving average (MA) of $11.38 and subsequent resistance at its 50-day MA of $11.44.
Atrinsic (NASDAQ:ATRN) is next with an RPE of $817,000. Finishing up the top three is National CineMedia (NASDAQ:NCMI), with an RPE of $715,000. ---------------------------------------------------------------------------------------------
I'm adding and will continue to add. Just because Tiger didn't win people are selling. Golf has nothing to do with these products
Someone must had sold first thing today. It was not me.
They even posted it on their website already.
Deregistration of Securities
On September 30, 2011, the Securities and Exchange Commission (“SEC”) declared effective a registration statement on Form S-3 (File No. 333-175283) of Atrinsic, Inc. (“we” or “our”) initially filed with the SEC on July 1, 2011, (the “Registration Statement”), registering the resale by the selling shareholders identified in the prospectus of an aggregate of 5,963,857 shares of our common stock. This offering has been terminated. Pursuant to the undertaking contained in the Registration Statement, we are filing this post-effective amendment to the Registration Statement to terminate the Registration Statement and deregister all of the shares of Common Stock that remain unsold as of the date hereof.
I found that article about Facebook working on Search project during it's quite period from Kim Heavey's tweet account. She use to work for ATRN.