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Running out for what? This will be down in the .002 or .003 range in a few weeks. I will buy at that point and average down and then hope the holiday buying season with a little pump here and there puts it back over a penney or two and then get out.
I appreciate your opinion and optimism but I am a realist and base my opinions on facts and figures (we have none reported of course). I have done considerable DD and subsequently invested considerable money into the company by buying shares. I speculate that I hold more shares then most on this board site.
More and more I have looked into the history and present info about the company and it ls leaving me very one sided now towards the bad investment side of things. I have already documented many reasons why that is my opinion in other posts.
I am sure everyone here would agree that if they had outstanding revenues from all these products in all the different locations then they would put out PR or a SEC filing showing how well they are doing. None of this is happening and they combine it with refusing to speak with share holders.
Seriously, does this not give you all cause for concern? It sure does me, I am going to try and average down when this hits .002 or .003 and then hope the holiday season bumps it back up to a penney or two and then get out before the BK. In my opinion, that is the direction this company is heading and this is strictly my own opinion based on my own DD.
BASE PRODUCTIONS CLOSES DEVELOPMENT DEAL WITH LYRIC CULTURE
LOS ANGELES, CA - (Marketwire - June 14, 2010) - Lyric Jeans, Inc. (OTC: LYJN) today announced that Award-winning television production company BASE Productions has signed a deal to develop and produce an untitled original series for television with Lyric's founder Hanna Rochelle Schmieder and her music-inspired lifestyle brand Lyric Culture ("Lyric Jeans," "Lyric Culture, "Lyric Nation, "LYRIX, and "Lyric") The proposed series will take viewers behind the scenes of this fast-paced company that fuses fashion design with music and Hollywood lifestyle. "In Hanna and her company, we have an opportunity to give viewers a behind-the-scenes look into the dynamic and creative worlds of fashion and music," said BASE Productions co-CEO John Brenkus. "Viewers are going to be wowed by this savvy and energetic entrepreneur who runs a fashion empire by day, and whose heart remains in the music industry -- where she got her start as a performer and songwriter."
Did this take place? Are there any links please? If not then why is it still appearing on the board site?
How soon you guys think before the next R/S happens maybe 200-1 or more?
How do you know they are in business or even doing any profitable business at all? They refuse to answer even the simplest questions for shareholders (owners of the company).
Thanks Mac, pretty much what I expected. Guess all the money we investors have put in could not even pay for a gardener.
Just what I hoped our corporate HQ would look like, no wonder they do not want to give any investors tours of the place. SCAM SCAM SCAM in my opinion.
Consistent growth? They have 6 employees total and 5 of them won't even talk to you just Abby the receptionist when you call in. Their high end products weren't selling so they switched to trinket costume jewelry. They must have terrible financials or they would have out PR or filed a SEC report. Looking more and more like a ponzie scheme in my opinion. But do your own DD and form your own opinion.
Be nice to have some pics of the rented old house they use as their base of operations on the website. Can we get that please so everyone can get a little bit of both sides of the company here.
I will wait till it hits .002 or .003 and try and average down my investment a bit before hopefully a little pump and dump on this one. The future appears very unlikely to happen with this non reporting anit-shareholder company.
Q, I like your posts and respect your opinion. I don't think anyone on this board would run a company pinkie, start up, nasdaq, etc.... in this fashion whatsoever. To many Madoffs in the world and secrecy, lack of reporting, lack of contact with investors, etc,,,etc,,etc,,, leans more and more towards another Madoff scheme.
Nice post which I agree with in most part. It is the deceptive nature of the company that bothers me. Not wanting any contact with share holders. No real corporate office just a converted old house. We (shareholders) really have no idea at all what is going on with this company because of their continued refusal to reply, PR, CC, file audits, allow visits, ETC...
Does that not worry each and everyone of you at some point even though we are talking a pinkie gamble here?
Exactly wit minimal profit margin and probably minimal sales going on which is why we have no PR or financial reporting.
Excellent post by you. I did try and set up a tour of the facility (old house) via phone and was told "no". What we are seeing is a lot of smoke and mirrors.
If there was substantial positive news it would come out in PR if there was even modest earnings, it would have been filed properly with he SEC even if not required to do so just to give investor confidence and PPS boost.
Combine a lot of these factors with the total disregard by Lyric to respond to its investors and we have a big ole scam going on in my opinion. Lots of pretty pictures, a start or two wearing a shirt or jewlery but nothing factual reporting to any of us.
Viewing various sites like barchart all indicate "strong sell" Good luck with that, I could throw a million shares at the bid price right now and it will sit there all day I expect.
Dreams and positive attitude will only get youso far then you have to look at reality.
So much info? Did you know that the companies base of operations is in an old house in a residential area off the sunset strip? Wouldn't an office space in real building make you feel a little more secure about your investment with actual employees doing actual wok for the company not just answering the phone and saying no one is available to talk or meet with you or give youa tour of the company.
Cmon, the ponzie scheme in pink land gets played again and again and looks like the music may be starting for this one also.
I appreciate the informed and detailed responses from the members here. Basically, we have a company operating out of a converted house off the sunset strip. It is not even recognizable as Lyric from the outside. I wonder if they are licensed and even zoned to operate a business from that residence. Why are there no. pictures of this location on the website or this board site? There was maybe 2 employees inside the location when a member visited them. Management and/or BOD refuses to meet or communicate with shareholders who are (partial owners) of the business.
It was fairly obvious that the jeans were not selling at 70-100 pricing so now they are trying trinket costume jewelry in various locations. The profit margin for stuff like this has to be marginal at best. Alexa rating is poor. The company is non reporting to the SEC and non communicating with the shareholders.
For those of your like me with significant money invested here, do you see any upside at all at this point? I am having trouble seeing any future for this business right now operating out of probably a rented studio house in a residential area.
Thoughts please are appreciated...
Has there ever been a share holder meeting or CC set up so share holders can call in and ask questions?
Has anyone actually ever spoken to anyone on the BOD about the company, its business model and future direction?
Thank you for the advice. I have done this prior to buying a boatload of shares. The fancy website, well known stores with items, low buy in PPS seemed undervalued etc...They do have some merchandise in various well known stores but it is hard to tell if anything is selling. The jeans weren't so they turned to the jewlery.
They have no IR at all so the only way to try and get some kind of update on my investment is to contact someone from management. I understand that certain info can not be made public but a lot of facts can AND SHOULD be made public to investors.
The more I research now, the more I believe a scam is taking place and that is just my own opinion.
So basically what you are saying is we are dealing with a converted one bedroom studio at our corporate office and the base of operations? There was one employee total in the place?
A fool and his money are soon parted and I guess I am the fool this time around.
Why is there not some great pictures of this corporate office on this front webpage from your visit there?
Well, called Lyric HQ again in Hollywood. Spoke to a polite receptionist named Abby. Asked why no one has returned my calls yet and she had no answer. I asked her to speak with someone in management and she said they do not speak with share holder directly who call the office. I asked her if I cold set up and appointment time to come down and meet with someone from management or BOD, take a tour of the facility and examine operations to be sure and safe in my investment in the company. She said that was not possible to do. I asked her if I just walked in the doors, could someone give me a tour of the facility and operations as a share holder and investor in the company. She said "no".
I could go on and on with my phone call here but you guys get the picture. This is a pure scam pump and dump whatever but they have no desire at all to inform, contact or speak with any share holders in the company. I asked her how many people were working the building right now and she laughed so I am guessing maybe she was the only one there answering the phones.
Draw your own conclusions, please make your own phone calls and inquire, send emails, verify my info for your own DD. This is a scam company and a lot of us are stuck in it with large investments and no accountability whatsoever. This is strictly my opinion based on my own research thus far. Form your won opinions and let's see if their is a concensus here.
I called the Lyric corp listed phone number the other day and asked to speak with someone in IR of management. I was told by the sec'y that they refer everyone to the email address and do not speak personally on the phone with share holders. I told her that I wanted to set up a date and time to come meet with management, preferably with someone on the BOD and tour the facility and review operations so that I could feel secure in my investment in the company. She took my name and number down and said I would be receiving a call back......still hearing crickets at this point.
Is this truly what a reputable company does to its share holders? I don't care if its a pinky or not, we are paying the bills and keeping the company moving forward and they just blow off the share holder like nothing. Complaint filed with SEC tomorrow for sure. Letter (certified mail) to owner of the company to follow. This is just a bs scam again. Another of hundreds and hundreds out there and all of us have our hard earned money being scammed from us right now.
Just for speculation on the OS increase proposal:
2. Capital Structure Issues
The first issue one might encounter is that the Public Shell might not have enough authorized shares of common stock to enable it to issue 80%-85% of common shares to the shareholders of the Private Company. For instance, the Public Shell might already have 50% of its authorized common shares issued to its current shareholders. There are several possible solutions to this problem:
a) Increase of Number of Authorized Common Shares or Reverse Stock Split Pre-Closing
The easiest ways to enable Public Shells to issue enough common shares to the shareholders of the Private Company to accomplish the reverse shell merger are: (i) the increase in the number of its authorized common shares; or (ii) a reverse stock split before the merger is consummated. Pursuant to Section 242 of the Delaware General Corporation Law (“DGCL”),[3] each of these alternatives requires an amendment to the certificate of incorporation (CoI) of the Public Shell. Pursuant to the same provision, shareholder approval is necessary to amend the CoI. Whether such shareholder approval can be obtained by written consent of the majority shareholder(s) depends on the applicable corporate statute and the Public Shell’s by-laws. For instance, under DGCL 228, majority shareholder consent is possible unless the by-laws state otherwise; under Section 615 of the New York Business Corporation Law, generally unanimous shareholder consent is required, unless the CoI provides otherwise. Depending on the outcome of the analysis of the applicable corporate law, the CoI, and the by-laws, a shareholders’ meeting might be required prior to closing. However, both a shareholders’ meeting and a majority shareholder written consent will trigger time consuming procedures mandated by federal securities laws as set forth in Section III.1., which will delay a closing substantially.
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What kind of legitimate company does not return phone calls or emails to its investors? We are the ones keeping the doors open to that place and when they combine it with failed financial reporting well that leads me to think nothing more then a ponzie scheme and a bunch of bag holders at the end.
As expected, no call back from anyone at the company to talk with a share holder about their investment. What a joke of a business this really is. It is about time everyone realized what we are dealing with. I live about an hour from the "corporate" office. I am going to call and set up a meeting with the owner and review their in house operations. I am guessing it is a P.O. box with one person answering phones inside.
Why does Lyric not respond to shareholders either by phone or email?
It is bad enough that they do not file timely financial reports with the SEC but they also make it impossible to contact anyone from the BOD or IR to answer questions about the status of our investments. I hold substantial amount of shares in this company and more and more I am thinking this is nothing but a scam with a few cheap items in a few stores. I am going to being filing a complaint with the SEC. This lack or response to shareholders is very suspicious and needs to be investigated.