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Unauthorized for 2 reasons:
1)Again, for the zillionth time:, in Oct 2016, Curt Kramer and his merry band of companies were precluded from taking shares in companies or their subsidiaries. CK signed a Consent Decree with the SEC which is a decree in the Federal Court system. 2 days later he signed a takeover mot?ion in the Civil Court. Not only fraudulently withheld facts from discovery in CivilCase—he with intent tried to do exactly what he agreed and was ordered not to do.
The unauthorized PR was May 5,2017.
2) St beginning of case Judge ordered both sides—no PRs until case closed. Reminder: Case closed June 18,2018 on DBMM terms.
https://www.sec.gov/litigation/admin/2016/33-10239-s.pdf
In RICO criminal law, they call it a pattern of behavior by a related network of companies
Is that post written in English or Spanish or Chinese?
Ask these criminals Curt Kramer and his firms Mazuma Corporation, Mazuma Funding Corporation, and Mazuma Holding Corporation
ORDER INSTITUTING CEASEAND-DESIST PROCEEDINGS PURSUANT TO SECTION 8A OF THE SECURITIES ACT OF 1933, MAKING FINDINGS, AND IMPOSING A CEASE-AND-DESIST ORDER
https://www.sec.gov/litigation/admin/2013/33-9485.pdf
"Billions of shares" were not vetted through the registration process yet became publicly traded as a result of the violations by Kramer and his Mazuma firms, and the SEC will continue to punish non-compliance with the registration provisions of the securities laws to ensure the investing public is protected in these types of transactions,” Mr. Paley added."
Penny Stock Financier Agrees to Pay $1.4 Million to Settle SEC Charges
https://www.sec.gov/news/press-release/2013-249
$DBMM>AWARDS WINNING DIGITAL COMPANY. NASDAQ with GROWTH/ACQUISITION.
DBMM 17 points DD.
All below 17 DD points are MENTIONED in one or more DBMM links posted below 17 points DD.
You can VERIFY for YOURSELF.
1. IT, Search, Social Media and Digital Analytics company.
2. AUDITED FINANCIALS.
3. Current in Ks and Qs.
4. UNCHANGED Float last 5 years. (RARE in stock market)
5. Running business.
6. Clients.
7. Revenue.
8. IT and Management employees.
9. Access to MILLIONS OF DOLLARS for Growth.
10. IT Awards - including TOP 10 DIGITAL AWARD(2020).
11. World TOP companies recommending DBMM for IT services.
12. Harvard Grad CEO.
13. Excellent Technical leadership.
14. NO Convertible Debenture since 2015.
15. DBMM Management recently updated NO Convertible Debenture in the FUTURE.
16. DBMM management recently updated they will be expanding GLOBALLY.
17. DBMM Management recently updated they are targeting NASDAQ.
DBMM links:
DBMM NEWS: http://www.dbmmgroup.com/news-information/
DIGITAL CLARITY: https://www.digital-clarity.com/
DBMM: http://www.dbmmgroup.com/
DBMM OTC MARKETS PROFILE: https://www.otcmarkets.com/stock/DBMM/profile
DBMM EDGAR PROFILE: https://www.sec.gov/edgar/browse/?CIK=1127475&owner=exclude
From DBMM Management recent shareholders update:
SHAREHOLDERS UPDATE—JANUARY 26, 2022 - "The long-term investors objective is to qualify for NASDAQ by a combination of events driven by growth and acquisition. The pace of growth will be aspirational and a function of capital flow. There will be milestones set and met, and as a fully-reporting company, the progress will be transparent."
The digital platform continues to evolve as James further commented, “…with the rise of Web3, NFT’s as a brand enabler, along with the rapid growth of AI affecting marketing and business overall, DC’s industry experience and reach can address opportunities proactively.
http://www.dbmmgroup.com/shareholders-update-january-26-2022/
SHAREHOLDERS UPDATE—JANUARY 26, 2022 - "The Company is also finalizing the labor-intensive task of submitting the 15c2-11 back-up material to the broker who will be sponsoring it through the FINRA application as required by the recent amendments to resume normal trading. The material will be released this week. The removal of the CE on OTC Trading is the first step. That is essential as the icon has been a real impediment to growth."
http://www.dbmmgroup.com/shareholders-update-january-26-2022/
SHAREHOLDERS UPDATE – NOVEMBER 8, 2021 - "DBMM’s last Convertible Debenture was issued in 2015 and Management resolved thereafter that they would not issue any in the future."
http://www.dbmmgroup.com/dbmm-shareholders-update-november-8-2021/
$DBMM
All those 4 companies got the expected outcome. They did nothing in response to OIP. DBMM did it all. Everyone HAPPY except 1+B NAKED SHORTS and their crew.
SEC Commissioners are about to put their FINAL STAMP on DBMM historic OIP. Never done before by any other company in recent OTC OIP history.
DBMM WON the EPIC INITIAL DECISION. "OIP DISMISSED" in ID. Next "OIP DISMISSED" in FD.
We are "OTC PINK CURRENT" on OTCMarkets and are on the verge of dropping CE and DBMM will be on its way to NASDAQ.
Stay tuned.
Think just a semantic issue. The delegation by the SEC to the OTC of determining whether companies are providing required, timely public information has taken place.
The 15c2-11 form which must be filed to resume trading is an SEC regulation.
The removal of the CE is strictly an OTC Matter. The CE is not an SEC issue. It is an icon for OTC Markets and has nothing to do with the regulations, per se.
As an investor in many digital companies, many of which show no profit, and some no revenues, the digital world is a very different model. Even Amazon as an example, founded in 1994, only showed a small profit in 2003, has never paid a dividend and doesn’t intend to in foreseeable future. And they are the behemoth.
SPACS are very popular today and they are totally predicated on debt.
I did some homework with public information and am countering the constant misinformation being posted as follows:
-Digital Brand Acquisition completed in 2012, Pivot to digital focus.
-At the point of acquisition DC the net purchase price of DC was 995,500 for “intangible assets/Customer Relationships.DC was profitable, but wanted to grow as part of larger organization with additional acquisitions part of plan.
-Specifically, DC wanted to be part of a growing public company
-Costs of maintaining a public company expensive in early years
-Margin 35-50%, tech support is exported from large tech co’s and 40+ social media platforms. Plus was No R& D expenditure required , yet algorithms evolving and DC benefitting
Everything in neutral because of external nonsense which should not have happened.
SEC Reaudit Nov 2013
Asher Litigation 2014/Settled 2018
AP May, 2017
Dismissal Nov 12, 2019
-Investors are in place to grow the company , full stop. Relationships matter , not outdated manufacturing theories.
To weave some scenario as if the external events hadn’t occurred, as if no growth will occur and as if the investors aren’t in place to grow with DBMM —-to focus on very small debt which will be paid out of new revenues from growth, is misinformation.
Stay tuned.
Reaudits are NOT done internally. Quite the contrary. An independent CPA firm approved by both the SEC and the PCAOB has to redo the audit from the beginning and cannot use the work papers of the sanctioned party.
Maranda Fritz cited in her court papers that it cost DBMM over $157,300 to reaudit. The number was verified in financial docs provided to the Court under confidential cover by Judge’s order.
I’ll bet DBMM could have leveraged that amount alone into substantial growth! And much more was spent with litigation and the AP that was simply unnecessary and a waste of taxpayer money.
Do a reasonable person’s test here.
DBMM had an growth plan that it was executing with mezzanine funding, which was interrupted.That is the key point. It was never able to execute because the reaudit was required.
However, with tenacity, grit and new funding from extremely successful , long-term investors who see the growth opportunities and high margins of DBMM, the Company showed it could prevail in adversity.
The growth is in place to happen. In the interim, certain debt is restructured, and positioned as shown in audited financials filed in Nov , 2021. Not speculation, fact.
Every shareholder can see the evidence of the progress, the plan, and the future building on awards and acknowledgment in the digital sector. Misinformation is just that.
Focus on margins of 35-50% proven consistently in operating DC results in MD&A from acquisition . Growing the business organically and by acquisition and the revenues take care of themselves.
The right support is in place. It is long term investors who share the vision , and the path to NASDAQ is their intent. Drop the CE first and the rest falls into place.
Stay the course and stay tuned.
Where did I say short term loans? I said Loans from a long-term investor for principal Only. All interest and derivative liability canceled.
Excellent renegotiation with no convertible provision and no interest. Damn well done!!
Debt is outgrown, and there is no company who acquires and grows without debt. Some have no revenues at all.
Until UK lockdown from pandemic, DBMM had approx $500k without any growth and amidst all the distractions.
The bottom line is DBMM is a digital marketing company with its acquisition during the Great Recession , which is using digital financial, not manufacturing financial, models of growth.
Growth is by debt and that debt is outgrown. DBMM’s distractions caused the growth planned and financed with mezzanine commitment verified to SEC ,to be put in neutral. Distractions coming to an end and growth to begin.
Onward and upward to NASDAQ.
The first debt renegotiation is summarized in Update and 10-k. The accounting is audited and summarized in several places. Including the financial statements and Notes and the MD&A.
Note 5 and Note 7
Last 2 paragraphs of MD&A
Gain on extinguishment of principal and interest $169,837 and $57,802 for 2021 and 2020.
Cancel convertible debentures totaling $249,800, include as loans (from long-term investor) interest canceled as shown above.
Decrease in derivative liabilities and paid in capital of $260,000 for 2021.
Stay tuned, more to follow in subsequent filings.
Did you find the hundreds of thousands of dollars of debt reduction in the 10-k 2021 you said didn’t exist and should be in filings.
Well it is, and more to follow. Audited financial statements.
Not true
Corp Finance 101
The public company is the structural holding company. Affiliates are standalone and are operating units. The plan for DBMM has always been organic growth and growth by acquisition.
That remains the plan.
It means as a private company at acquisition and thereafter DC ran at a profit. Public companies are expensive to maintain, acceptable to all.
It is tiresome to show evidence and then be told it doesn’t exist. In Updates all the debt elimination was verified and cited from 10-K 2021.
Read the MD&A. There was a pandemic with crap still hanging over the Company’s head.
Couple years previously US- $40k.
Harken to acquisition of Digital Clarity, who operated with a profit as acquisition filings indicated then and forward.
The expense of a public company, particularly with a manageable acquisition financing, beset with external , extenuating circumstances , which never, should never have happened, cost the Company hundreds of thousands of dollars and lots of lost time.
Those who always look back will remain there. The future actually has been verified by long term investors or why would they be here while the distractions continued?
By the way, for the zillionth time, actions like no convertible debentures since 2015 and no conversions since May, 2016 and none in the future, while certain interest waived or canceled in the future, validate strong support.
But Definitely not using old models and old baggage. The world is changing…
Stay tuned.
Time will tell. The conundrum facing the Short Sale/NSS attention from DOJ and SEC.
Not as simple as one quick check of a link or a TA— neither has the answer, hence the investigations.
The model in the 21st century, particularly for digital companies , is to operate in a growth mode. That is done by reinvesting and growing the business, first by debt as it is outgrown over time, and not be profitable until a TBD point in time.
Exactly what Amazon did , it is a tried and true digital model. Amazon to this day has never paid a dividend and as a shareholder can say has no intention of doing so in the foreseeable future.
To cite the old manufacturing model which had fallen to the wayside, is yesterday’s news.
IMO, as DBMM has shared, and they documented to the SEC under Confidential seal in Jan 2018, the Company had mezzanine financing lined up when the re-audit/litigation/loss of funding / delayed filings, cure of same/pandemic , caused their plan to be placed in neutral.
The Growth Plan will finally begin in earnest Post- the last of the distractions being concluded. The CE will be removed, and what the long term investors see as the road to NASDAQ begins.
Stay tuned.
The transfer agents have no way of determining NSS. Statement with no rationale and no validation —yet another opinion.
Whatever some outlier agent using unproven platforms with bitcoin or other , is not the standard.
Counterfeit, synthetic and option-oriented sophisticated models, the TA has no way of identifying. These aren’t being registered per se , they are being passed, just like counterfeit currency and bonds. The reason bearer bonds are illegal in US.
There were no shares issued after mid/May, 2016. So your reference to the Expert Market is not only inaccurate, it is irrelevant.
The Company and its Management as Pink Current look forward to the removal of the CE and growth capital thereafter.
This is flat out crap. Plenty of people made plenty of money trading and would never allow the Company to get any traction .
Selling on every uptick has consequences and shorting when the Company has challenges like reaudits, litigation, delayed filings and a pandemic is very narrow thinking. DBMM actively sought like minded, long term investors and found them. First , cure, then remain compliant in filings, then growth and seek acquisition or 2 well vetted by Reggie. And NASDAQ is next.
Since the reaudit, The Company had to deal with external challenges that would have closed down other managements and yet DB persevered because there investors knew their value proposition was well founded.
New, long term investors will get the Company to NASDAQ. We all deserve it. Stay tuned.
Welcome to clever marketing. It is both.
NYT today,1/30/22. “How GameStop Turned into a Fight for Good vs:Evil”
More public information on short sales and short squeezes . A law professor, UC-Berkeley ,said ,”…synthetic shares could exist because the same shares were often lent out to multiple short sellers at once, creating the impression that there were more shares then there really were,… it’s not true the SEC would be involved…would be manipulative, and it would be illegal.”
https://www.nytimes.com/2022/01/29/business/gamestop-stock.html
Both DOJ and SEC have issued first shot across the bow re short selling in all forms—comments like transparency and more reporting suggests there will be more to come by the regulator and the fraudsters are going to be outed.
Correction:
The fact that no reply brief was offered meant there was no refute, full stop. The Company is required to fully report in Legal Proceedings in the 10ks and 10Qs and the documents clearly stated: “Both parties have briefed and concluded in April, 2021.”
Your statement that there is no disclosure required of an additional brief is false. All parties must receive every document filed with the Court. The Company would have then disclosed is its reporting in Legal Proceedings, as it stated in last 10-K and 10-Q: ” The Company is disappointed that so much time has been lost and intends to vociferously support the original Dismissal after two years.”
The fact is there are not 2 divisions of the SEC who agree because the Corp Fin opinion solicited by Enforcement was NEVER filed in EDGAR in the prescribed format to close the review. An Edgar filing is the final word.
Reuters well reported article indicates that the chair of the SEC and DOJ already announced that things are going to be far more transparent, with much tighter reporting requirements for short sales.
Saying there is one easy way to know if short sales exist is simply misinformation. Sharing business reporting instead of opinions provide facts and that is useful to all.
Stay tuned
Because MF brief provided a documented timeline in March 2021 and Enforcement didn’t refute the brief. No brief beyond the first one. What does that tell you? And don’t say maybe it wasn’t published because if it was refuted the Company through its attorney would be required to get an official copy.
IMO they asked for a review without proper research into details. Huge mistake. They missed it. In order for Judge Foelak to have the Corp Fin closure, it would have been provided to the Court, and Enforcement gets a copy by Court Clerk, yet their brief used old info from their previous filings.
The Commission asked for summaries to see if Enforcement did their homework with Corp Fin since they asked for a review? Did they even look for the Review Closure document? Or they did and that is why they did not refute MF’s brief?
The (new) Commission in Jan 2021 needed briefs for proof of evidence and any additional info on each side’s position . That is why MF did a timeline which was documented.
If I was Enforcement it is very embarrassing to have missed the Edgar filing and knee-jerked a request for a review. Then didn’t even verify when asked for a brief.
Tsk-Tsk. Sounds like a job for the SEC Inspector General. A total waste of tax paper’s money.
Factbox: How the SEC is cracking down on the equity market after GameStop saga
https://www.reuters.com/business/finance/how-sec-is-cracking-down-equity-market-after-gamestop-saga-2022-01-27/
SHORT SELLING, HEDGE FUND DISCLOSURES
The GameStop saga intensified worries over hedge fund transparency. On Wednesday the SEC proposed new rules to boost hedge fund disclosures on material events, including extraordinary losses.
The SEC is also mulling changes to shorten the settlement cycle to one day.
The GameStop saga highlighted the small number of market-makers that dominate the retail market, which could pose competition issues, Gensler has said.
Overall, more than 40% of all trades are executed away from exchanges. That is partly due to rules that allow market makers to offer fractional sub-penny price improvement on bids and offers, whereas exchanges have to quote in pennies, which Gensler has said has created an unlevel playing field.
According to its latest public agenda, the SEC is considering proposing changes "to modernize rules related to equity market structure such as those relating to order routing, conflicts of interest, best execution, market concentration, and the disclosure of best execution statistics."
In Jan 2021, The Board was all new and confused by misstatements by Enforcement. That is why they asked for briefs from both sides.
As pointed out by WestCoast, MF brief did a timeline and explained the Company dealt directly with Corp Fin. Then DBMM filed Amendment on Oct 1, 2019 solving the ICEDR question. It was accepted so CF sent a review closure letter on Oct 15,2019., and it was filed in EdGAR.
The dismissal granted Nov 12,2019 by Judge Foelak.
The Board used Enforcement’s brief language which showed they did not research EdGAR where the final closure letter of Oct 15, 2019 was filed. The Q question was addressed by the Judge, and MF had citations of other cases where not included in Super 10-k.
This review shows real egg on Enforcement’s sloppy work
For those of us focused on facts in play which have not been superseded or affected in any way. The facts in the link below were/are very significant in support of dismissal of the AP:
Following the SCOTUS expunging the previous order in Dec 2017 and allowing new evidence, Judge Patil Ordered a Protection Order for Financial Information in Jan 2018 —one month later—from DBMM following SCOTUS instructions. Take the time to read the link thoroughly. The Order covered costs of the reaudits, litigation resulting from Asher because of reaudit mandate , new funding to
Cover costs of same and loss of funding and time to identify long-term investors after 2yrs of distractions over mitigating circumstances all documented. Evidence available to Judge Foelak along with cure of delayed filings.
DBMM’s strategy and ability to meet these unnecessary challenges, bodes well for tenacity and resources required to begin the road to NASDAQ, one step at a time. First by getting the CE removed and then executing the growth capital plan originally intended.
https://www.sec.gov/alj/aljorders/2018/ap-5543.pdf
The Company has announced decisions which eliminate or restructure certain debt.
Filed and audited:
- Last convertible debentures issued in 2015
-Last conversion was May, 2016 and Company will not use the funding vehicle in the future
-Approx $300 in corp deb canceled, as well as all interest past , present and future for those notes and included in last audit .
- Long term investors in for growth capital
-All signs are up and investors know it
Speaking of relevance: the Lucia SCOTUS case remanded and expunged the earlier ruling, at a time when DBMM had not cured delayed filings.
Relevance: In remand, everything previous expunged and no orders can be cited going forward. Evidence is new as Judge Patil noted in his order of January, 2018.
PFR going forward is because Enforcement citing opinion of early Corp Fin , not Review Closure filed in EdGAR.
All in Maranda’s brief. Be aware this is very sloppy missing of info on Enforcement’s part. There is a new sheriff in town, and Enforcement cannot take away judicial discretion. Overreach in the extreme.
Maranda Fritz is an iconic SEC attorney who makes law and wins regularly.
As such, she is Enforcement’s nightmare as she calls them out on the intent of laws and regulations. Enforcement is not providing due process if they always want revocation, if that was allowed then it would be a law to revoke in all cases, but it isn’t.
Omission is still misinformation
11/17 Judge Patil initial decision
12/17 Decision Remanded and expunged. In ether, doesn’t exist once remanded.
1/18. 2 months later DBMM got full funding from long term investor to cure delayed filings. Judge agreed to DBMM request to provide Confidential evidence of cost of reaudits , funding, and litigation following the SEC reaudit . Ordered by Judge Patil and became evidence used later by Judge Foelak.
-Speaking of repetition of facts:
Oh people care — 120+ Posts later.
-All Commissioners and Chair NEW
- PFRs granted is norm— Particularly as courtesy to Enforcement division
- Their unfamiliarity obvious when after 14 months the 2 items they mentioned were cured in Corp Fin review (ICEDR amendment 2) and unaware Judge stated re Q’s- if audit completed on Super 10-k , Q’s of no value to shareholders as they are reviews.
-If Q’s were required in all cases, there is no need for a Super 10-K which consolidate reviews to expedite the submission. Discretion by Judge allowed under a quarter was so materially important , it is highlighted.! That is why the Judge said Q’s would be of little value in this case.
FYI- the Judge has significant in person input to any PFR
It is ludicrous to say shareholders could sue an exchange when there are any issues with a Company because the exchange allowed it to trade .The exchange doesn’t allow ever, FINRA clears for trading for ALL exchanges. They follow the 15c2-11 regs. Institutions and non-US shareholders are already trading. Opening the US-trading markets is long overdue for a company compliant for 4 years by mid-May 2022z
Think about the absurdity with no basis in law. Cite the legal basis —not your opinion, the actual law. There is none. None. None
That would be like shareholders suing the NYSE when Enron collapsed and shares halted. Now that was a fraud and shareholders properly had a class action .
The SEC does not revoke a fully reporting company who has cured and is PINK CURRENT since mid-2018 , as acknowledged in Sept 28, 2021. There have never been any issues with the financial statements in any filings ever, nor management issues with DBMM, just delayed filings with mitigating circumstances.
No way a Company cured for years, is going to be revoked.
$DBMM>AWARDS WINNING DIGITAL COMPANY. NASDAQ with GROWTH/ACQUISITION.
DBMM 17 points DD.
1. IT, Search, Social Media and Digital Analytics company.
2. AUDITED FINANCIALS.
3. Current in Ks and Qs.
4. UNCHANGED Float last 5 years. (RARE in stock market)
5. Running business.
6. Clients.
7. Revenue.
8. IT and Management employees.
9. Access to MILLIONS OF DOLLARS for Growth.
10. IT Awards - including TOP 10 DIGITAL AWARD(2020).
11. World TOP companies recommending DBMM for IT services.
12. Harvard Grad CEO.
13. Excellent Technical leadership.
14. NO Convertible Debenture since 2015.
15. DBMM Management recently updated NO Convertible Debenture in the FUTURE.
16. DBMM management recently updated they will be expanding GLOBALLY.
17. DBMM Management recently updated they are targeting NASDAQ.
All above 17 DD points are MENTIONED in one or more below DBMM links. You can VERIFY for YOURSELF.
DBMM links:
DBMM NEWS: http://www.dbmmgroup.com/news-information/
DIGITAL CLARITY: https://www.digital-clarity.com/
DBMM: http://www.dbmmgroup.com/
DBMM OTC MARKETS PROFILE: https://www.otcmarkets.com/stock/DBMM/profile
DBMM EDGAR PROFILE: https://www.sec.gov/edgar/browse/?CIK=1127475&owner=exclude
From DBMM Management recent shareholders update:
SHAREHOLDERS UPDATE—JANUARY 26, 2022 - "The long-term investors objective is to qualify for NASDAQ by a combination of events driven by growth and acquisition. The pace of growth will be aspirational and a function of capital flow. There will be milestones set and met, and as a fully-reporting company, the progress will be transparent."
http://www.dbmmgroup.com/shareholders-update-january-26-2022/
SHAREHOLDERS UPDATE—JANUARY 26, 2022 - "The Company is also finalizing the labor-intensive task of submitting the 15c2-11 back-up material to the broker who will be sponsoring it through the FINRA application as required by the recent amendments to resume normal trading. The material will be released this week. The removal of the CE on OTC Trading is the first step. That is essential as the icon has been a real impediment to growth."
http://www.dbmmgroup.com/shareholders-update-january-26-2022/
SHAREHOLDERS UPDATE – NOVEMBER 8, 2021 - "DBMM’s last Convertible Debenture was issued in 2015 and Management resolved thereafter that they would not issue any in the future."
http://www.dbmmgroup.com/dbmm-shareholders-update-november-8-2021/
$DBMM