- LEGAL COUNSEL & ECONOMIST
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More pipedreams, i.e., flipant predictions that ATTD will not succeed in capturing huge market share and thereby press it's PPS up SIGNIFICANTLY by EOY!
NICE CATCH!!! WRONG IN POSTING THAT IN MORE WAYS THAN ONE!
C'mon SAPX... pull it out and move upward!!!
WTH??? How can that be? If that's true, that has to be about the price MMTE paid for it. Nothing super significant has occurred since the acquisition of the concessions to have spawned any major land value increase. Further, if that is what the land is worth, where did MMTE get the money to afford such expensive concessions? That must have cost the company millions and millions of dollars!!! Something DOES NOT add up here.
I want 2.5 million ATTD shares!
MMTE's uplisting without significant damage to shareholders' interests is an impossibility. Period. End of paragraph.
HVYW will have its day in the sun soon enough!
I agree. Roy is telling the truth. No reverse split for ATTD!
Nothing good, which is why the ATTD CEO confirmed today that no reverse split will occur. (See, e.g., http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73577039 .)
THAT IS EXCELLENT NEWS FROM ATTD'S CEO!!!
LOL... not even close. The statements are self-explanatory and quite accurate. MMTE has no hope of uplisting with a PPS in the triple zeros. A reverse split must occur if WL seeks to uplist this forlorn stock.
FISHY NEWS. FRUSTRATING FUTURE.
You seem to misunderstand what was meant. ATTD financed its past operations by issuing convertible notes (i.e., a form of loan with investment "interest") to private parties in exchange for operations $$$. Much like bonds or CDs, convertible notes mature and ATTD then owes the private parties the $$$ ATTD initially borrowed PLUS a set amount above that as a profit to the note holder and payment by ATTD for borrowing their money.
Thus when ATTD's convertible note holders' notes mature, they "cash them in" typically by working with a broker who sells the requisite portion of authorized stocks shares into the outstanding shares to acquire the $$$ due and owing the matured convertible note holders. The SEC allows brokers the freedom to report such three-way security sale transactions at the end of the trading day, rather than right in the middle of trying to sell A/S shares for the highest price possible (i.e., to pay the note holders and yet still minimize dilution of the O/S).
Hence, the company is NOT selling A/S shares into the open market to collect monies that would be made from such direct-from-the-company shares.
ATTD WILL NOT NEED/EXECUTE A REVERSE SPLIT!
ABSOLUTELY NO REVERSE SPLIT IS IMMINENT. Load the ATTD boats on inexpensive shares!
WE HEARD FROM THE CEO ABOUT AUTHORIZED SHARES ... clear back in at least one of his two radio interviews this past January. (See, e.g., http://investorshub.advfn.com/boards/read_msg.aspx?message_id=71517253 AND http://investorshub.advfn.com/boards/read_msg.aspx?message_id=71442575 .)
Moreover, when I wrote the CEO about this issue in late February, he responded: "[You] must know that I can not comment on this until the board decides the correct course of action and announces it with a public filing. We are well aware of the shares outstanding and will do our best to handle it in a way that maximizes shareholder value. Thanks, rGW" -Roy Warren, Attitude Drinks Inc. CEO, February 21, 2012.
Hence my subsequent post: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72400726 . Indeed, Roy is on target, focused upon, and up to speed with the situation. I expect a press release once the board takes requisite formal action to effectuate the increase of authorized shares.
ATTENTION: ATTD INVESTORS OR POTENTIAL INVESTORS...
ATTD's actions pertaining to this authorized share increase continues right on the line that we hard-core ATTD enthusiasts and analysts have already foreseen and for which we have accounted in our analysis and various posts regarding the same. LONG TERM, all remains well with ATTD (despite the subervisive drama engineered across the investment landscape by the few, outspoken, hard core ATTD antagonists and "critics" out there). For instance... note and remember THIS post from almost one month ago: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72400726 . Maintain focus and fortitude.
DO NOT let these so called "critics" drive the PPS down and buy your shares on a panic sale at these crazy, drastically undervalued PPS levels!
WHAT REVERSE SPLIT?!!! THERE WILL NOT BE ONE!!!
Sounds like it's a great time to load the ATTD boats to me!
One cannot just quote an isolated legal citation... a piece of a huge legal jigsaw puzzle over which such citation's meanings attorneys argue about in court all day across the entire country... without legally proving the applicability and court-interpreted application of such a lonely quote. Indeeed, that lone citation fails to establish its applicablity not only of that little isolated legal quote but also of the myriad of regulations, statutes, and case law that forms the complex framework that when taken in its proper, comprehensive context, proves applicable to the current ATTD situation - including the arguable applicablity and methodology of applicability of this lone quote.
This averment proves inaccurate on its face, as the many legally accountable written statements by ATTD state over and over and over again. Culling through all the company's recent written, issued statements puts the number of stores at well above 1,000 and climbing fast.
The SCHEDULE 14A INFORMATION statement does NOT state that. Again, its plain legal language states - and I again quote: "At December 31, 2011, we were in default on short term bridge notes totaling $115,000 in principal."
Such a quote, for whatever reason, does NOT update the status of the default reported three months ago. You ASSUME its still accurate. One cannot assume anything in securities and commericial law!
WTH??? It reads, and I quote, "At December 31, 2011, we were in default on short term bridge notes...." -ATTD SCHEDULE 14A INFORMATION at 10, March 2012 (emphasis added).
Do you recall my stating, "IF IT'S THERE AND IF IT APPLIES NOT TO THE PERIOD ENDING DECEMBER 31, 2011, BUT INSTEAD IF IT APPLIES TO THE CURRENT OR A RECENT DATE, THEN IT IS WHAT IT IS. IF!!"
Well, it is NOT.
That statement could not be more inaccurate. As an attorney who DRAFTS such agreements regularly, such course of business agreements almost ALWAYS have a bullet-proof confidentiality clause that specifies exactly what information can be issued and what cannot be issued. A copy of the signed agreement would be information that CANNOT be issued as to 98.7% of agreements made in the normal course of business!
IF IT'S THERE AND IF IT APPLIES NOT TO THE PERIOD ENDING DECEMBER 31, 2011, BUT INSTEAD IF IT APPLIES TO THE CURRENT OR A RECENT DATE, THEN IT IS WHAT IT IS. IF!!
What in THE hell does ATTD's complying with the requirements of issuing an 8K (i.e., narrow, focused issue) have to do with the requirements of issuing a 10Q (i.e., broad, comprehesive, all-inclusive)?!!! Apples to oranges!!!
Not every damn day do they need to disclose such information to shareholders! IF that information is still current, which I doubt, ATTD will put it in its NEXT 10Q - where it belongs - pursuant to the SEC federal security requirements. UNTIL THEN, that information is ancient... especially for a rapidly expanding company that is moving as fast as ATTD is!!!
LOL... no way... not even close. Such agreements are ALMOST ALWAYS considered legally priviliged and confidential information. Publicly traded companies like ATTD RARELY issue to the public the contracts/agreements they sign in the standard course of business. Public traded companies issuing all their privately negotiated contract terms to all of their competitors and the competitors of the entities with which the companies contract? THAT IS NOT THE WAY IT WORKS.
The way it works is that partnerships, agreements, contracts, business relationships are created and announced via a press release that must be made in good faith, believing that such things really exist. If such press releases occurred in bad faith, the boilerplate would NOT protect ATTD or any other publicly traded company.
It means that information is ancient - out of date - and using that out of date information NOW requires twisting and improper extrapolation to reach any purported conclusions.
THAT is ancient, out-of-date, misconstrued, twisted ATTD information regarding that which we have no way of knowing proves current or even applicable.
The press releases clearly indicated signed agreements existed with retailers such as Walgreen's, Sam's Mart, etc., and with a slew of distributors. The boilerplate "forward looking statements" disclaimer would not and will not protect ATTD or Roy Warren for making such clear indications should they prove false. To suggest such a travesty would mean that almost every public company in the country would make outrageous, self-serving statements that would prove quite inaccurate... only to hide behind the boilerplate. You know or should know that the SEC would fire an armor-piercing RPG right through the boilerplate should public companies like ATTD conduct such bad faith chicanery! So commonplace are these fundamental principles that all informed investors know them cold.
As a precaution against PPS plunges, among other things, the SEC and federal securities regulations require that a public company maintain a large portion (e.g., no less than 150%) of its proposed increased share count's aggregate $$$ amount without earmarks for already pending convertible notes and other debt payments. Hence - and simplifying the details - taking into account all pending debt that ATTD must pay in the future based on current liabilities, the government requires ATTD to increase its authorized share count to include ALL of that debt, plus at least an additional huge percentage (e.g., 150%) above and beyond those financial obligations.
So, as a rough example, if at the current 10-Day SMA for ATTD's PPS (e.g., $0.0042 per share) it would take two billion of shares sold at that price to pay for all ATTD's outstanding debts - and where 150% of two billion equals three billion - that would mean that in order to qualify for an A/S increase, ATTD would have to increase its A/S by a combined five billion (two billion for debts owed + three billion to maintain the federally-mandated 150% margin above the existing debts) shares above the current one billion A/S.
ATTD financed its past operations by issuing convertible notes (i.e., a form of loan with investment "interest") to private parties in exchange for operations $$$. Much like bonds or CDs, convertible notes mature and ATTD then owes the private parties the $$$ ATTD initially borrowed PLUS a set amount above that as a profit to the note holder and payment by ATTD for borrowing their money.
Okay, now when ATTD's convertible note holders' notes mature, they "cash them in" typically by working with a broker who sells the requisite portion of authorized stocks shares into the outstanding shares to acquire the $$$ due and owing the matured convertible note holders. The SEC allows brokers the freedom to report such three-way security sale transactions at the end of the trading day, rather than right in the middle of trying to sell A/S shares for the highest price possible (i.e., to pay the note holders and yet still minimize dilution of the O/S).
I hope that makes sense.
LOL... no, I'm afraid ATTD's closing PPS for today will remain at $0.0038.
Please... be realistic! The press releases are inherently reliable regarding ATTD's last three months of signing quality distribution and retail contracts. Issuing such press releases, containing the incorrect and bad faith information that you daftly allege, would land ATTD and Roy Warren into more SEC trouble that they could ever imagine! Seriously... let's be serious about such obvious matters.
Not a bad day here either... for those who did their due diligence and priced this inevitable event into their ATTD investment strategy. (See, e.g., http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72400726 .)
GLTA ATTD LONGS!
WTH? Have you honestly not noted and factored into your analysis the massive quantity and quality of distribution and retail sales agreements into which ATTD entered since just late December??? The logically significant revenues from the initial product shipments concordant with those contracts will appear on the next 10Q. Moreover, though those revenues shall prove impressive, they will represent only the tip of the massive revenue iceberg rolling straight for the USS Attitude Drinks Inc. Yes... REALLY.
As my prior post indicated, based on the PPS for which the T-Trades (i.e., trades made during trading hours - usually involving events such as converting notes to $$$ via fairly large share sales - that the brokers put aside to report on L2 until after close) occurred, I take it as good news... but that is just my humble opinion.
Interesting... significant T-trades moved at a PPS rate quite above today's simple moving average price per share, which is most unusual, and yet quite below what the trades could have sold for early in the day. I beleive I will take that as a good sign.