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IMO, I don't think we'll see much movement in the stock between now and mid-August. That's when we'll get the 2Q 10-Q and we'll be approaching the launch of Good Gaming. Unless we get a surprise PR or something regarding XA, I don't see an impetus to move the price much between now and then.
Obviously, I hope I'm wrong and it starts to trade higher prior to GG going live, but having been here for a couple years now, I feel pretty comfortable in saying I don't think it will happen. But that's fine - once GG goes live and everyone sees the 2Q numbers, I think the patient shareholders will see their just rewards.
I love how Ed says "screw the shareholders" because he has more important things to do, like generating $0 in revenue as he did last quarter. The more I think about that, the more angry it makes me, and I'm not even the one stuck in that position.
I don't know what the equivalent is of the SEC up in Canada, but you might call them and see what can be done. Maybe they can put some pressure on SEGI to do something.
I don't see anything under News or Press Releases on money.cnn.com. I use Schwab to do my trading and I don't see anything in there either. I checked morningstar and it was there. And Yahoo we know is now posted. Those are pretty much the four sources that I use - if I think of others, I'll check them out.
Roger that.
I haven't looked around enough to know if other sites still haven't posted it or not. But what I did notice was that the stocks app on my phone, which is a Yahoo!-based app, didn't post it until this morning (even though it shows a date of 6/23). So it looks like they may have just been slow to post it - hopefully all other sites have posted it by now as well.
Based on my very, very limited experience involved in beta testing, I would think there would probably be some revenue from signing people up (although probably not a material amount) because I would assume they would want to know if people were having issues signing up and paying. My guess is if they did that, it would be limited to a handful of people. But all that is speculation on my part.
I think we need to worry about generating revenue first. Without revenue, it's hard to get cash to do a buyback. If that were to happen, I think that's a long way away - they need to get their house in order first.
That's a clown comment bro.
It was from MW, I believe on the eSports board that Pickle set up
OK, thanks, that's helpful. I'm not looking for specifics, I was just curious what a typical beta testing period was, if there is such a thing. I know they're taking their time now to try to keep from having to deal with major issues during that period, which I like, but we'll just have to wait and see how everything unfolds.
Hi Twisted,
As someone who is not in the computer programming/development industry, can you tell me if there is an industry average or anything for how long a typical beta testing period lasts? I know it differs from project to project, but assuming the web site is in pretty good working order and there is nothing way out of the ordinary, does it usually last a couple weeks, a month, a couple months, etc.? It would just be nice to have an idea of what kind of timeline to expect once the company announces they've gone to beta testing. Thanks!
I thought the link said $3.5M, not $350M? Decimals are important.
I don't recall that prediction but I'm sure it was based on Good Gamong going live. We all know the GG is a little behind schedule so I think that's the main issue right now. But as soon as that goes live, we'll be talking several millions in revenue from that alone. Just have to be patient a little longer.
He was probably pissed that someone hit the offer for only 5k shares, which isn't much better.
Embrace the chaos.
I'll be the first to admit that I don't know what goes into an "awareness campaign." Does that mean Glen goes to all the big banks and gives a spiel on CMGO? Or does it mean sending out flyers or emails to people you think might invest? I'm not sure how the mechanics of it, especially at these prices, without making it look like a P&D that so many of us have seen in the pinks. I'm confident people will see there are plenty of reasons to invest in CMGO, they're all laid out in all the recent filings, Glen just needs to get the information in front of them, in whatever form he can.
In theory, you're correct. But, we've seen large spreads in this stock for a long time so just raising the ask doesn't necessarily mean the bids will follow. It will continue that way until we get lots of big investors with lots of money who will put in supporting bids.
Here is my biggest concern: Ed has been CEO of SEGI since 2010. In the first quarter of 2014, SEGI reported exactly $0 in revenue. What has he been doing the last 4 years? It doesn't look like very much to me, other than issuing millions of shares to others for doing what, exactly?
Well, on the bright side, the next time someone sells, the price will go up. #Winning
What price is showing a million on the ask? I don't have L2. I only see 10k at 245 right now.
Thanks MW!
MW - any gut feelings on when we might hear something on the GG site?
I agree. Lest we not forget that the area of expertise of our main revenue driver, XA, is in marketing. Of all the companies out there, we should have the expertise in-house to get our name out there without resorting to other tactics.
Mrs. Klek - I echo the sentiments of the others on this board in regards to your husband and your family. Wishing you all the best!
As for the numbers, those numbers are in thousands. So whatever particular amount you're looking at, multiply it by 1,000 and that's the true amount. As the company noted in tree 5/15 news, these are GAAP numbers or what auditors require them to report. There were, however, significantly more revenues that occurred in 1Q that they could not report in 1Q because of certain accounting rules so they will show up in 2nd quarter. I hope this answers your question - if not, please let us know.
Exactly. Once this gets back up to around the 27s-30s, he'll be back bashing again.
If somebody is gonna sell 100 shares at a time, it's going to be a looooooooong time until we get down to that level. #Carefree
You're obviously new here and aren't aware of how this stock trades. Once we get past a resistance level, we rarely go back under. Just last week we broke the 24s and haven't been back since. Now we're trying to bust through the 30s or 35s. I have no doubt once we do that, we'll hold that level as well.
Everything is there for a breakout other than volume - no other stock in the OTC can match the financials or potential that CMGO has. As giantkiller mentioned, if you're looking for a roller coaster ride, you're looking in the wrong place.
This is just a great write-up on the Good Gaming web site.
As the creative minds behind Good-Gaming.com, we would like to provide some insight
on our humble beginnings. The idea spawned three years ago as a result of a narrow
World of Warcraftâ„¢ Rated Battleground loss, due to poor technique and several key
mistakes made by a shoddy pick up group. This struck a chord with us collectively and
rather than dwell on the classic "You can only carry so hard" mentality we thought,
"Wouldn't it be awesome to be able to bring people together, educate them, and to create
a new, higher standard of competition, and by extension a new pedigree of eSports
athlete." So, over the next two years, we pulled together like minded individuals, while
watching eSports explode into the spotlight. We built a list of how we'd like to see the
eSports community become more cohesive through detailed research of our platforms
and software. More importantly, we had a goal. Give the world a better gamer and a
means to behold those gamers. Based on that goal, we built the formula that is our
Watch, Learn, Interact platform. It became apparent to us that these three seemingly
mundane actions are the key to becoming the best. So whatever walk of life you hail from,
never forget that there is a champion in everyone that we aspire to help awaken. Gaming,
at its core, is meant to be fun, but it also stands to be a lucrative endeavor for those
willing to undertake the challenge. We took the risk… we're reaping the rewards… now it
is your turn!
I just got this from OTC Markets.
The review process normally takes 3-5 business days and has not been completed by SEGI. There’s no information as to if/when the company will go to OTC Pink Current.
Best regards,
Ed McCann
Corporate Services
304 Hudson Street 2nd Floor
New York, NY 10013-1015
T +1 (212) 896-4471
edward@otcmarkets.com
I like that analogy to a spouse, that's funny! Speaking of spouses, my wife was following CMGO really close this week after the big rally we had on Tuesday. And then this morning, after I told her about the Q last night, she asked how today was going to go, expecting big things. I told her it didn't really feel like a breakout day today, just based on how I've seen it trade over the last year and a half. So if nothing else, I think I have at least fooled my wife into thinking that I might have an idea of what I'm doing!
It does - thanks!
I agree with everyone, the Q was very impressive. And I think we all had an idea it would be based on the Chairman's Letter in April and the fact they have no debt. So I don't think it was a huge surprise to everyone and maybe that's why there's not as much discussion as there might otherwise be.
I will go maddy for a moment and ask a question. In the Q, it says the Balance Sheet is unaudited. Anyone know why that is? Clearly they had an audit done and usually the audit starts with the Balance Sheet. Not a big deal to me but it was one of the first things that caught my eye as I was scrolling through the Q.
Not in the least.
Wow, that's awesome!! On pace for $20MM in revenues right now, without even taking into account Good Gaming. Nice numbers!
I'm not sure what goes along with all that so probably so. I'm just trying to think of things that might have caused it and that's the only thing that comes to mind. Maybe it's something else that happened in 2Q.
I know the CEO was given like 40 million options at $0.0155 when he took over. I thought it was 40 million, I'd have to double check the filing. But maybe he exercised some of those options?
CMGO doesn't have any convertible debts or notes, though, so it can't be that.
I don't know that we're going to be able to tell when the company is buying back shares. I think the only way we'll be able to know is by looking at the 10-Qs and comparing the O/S shares number from quarter to quarter and see if it is going down. I could be wrong, but that is my understanding.
So did you like what you read? Now would be a good time to get those million shares before the Q comes out!