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One thing that keeps sticking in my mind is that tweet that buck posted from Ryan Mayberry on May 7. I think it is VERY significant.
OK now we're getting somewhere! The question is what other subscription businesses do they have?
I think the affiliate network is history as part of the "winding down". I'm not sure if this is old news, but Blu Cigs is now using Pepperjam to run their affiliate program. Yeah, the same Pepperjam that Baker (and a few other ATRN folks) used to work for.
https://www.pepperjamnetwork.com/affiliate/registration.php?refid=85174
Here is what we need to find out:
WHAT EXACTLY DOES ATRINSIC OWN, OR HAVE RIGHTS TO, THAT WOULD BE VALUABLE TO BDE OR ANY OTHER COMPANY?
No one seems to be able to answer this question. The fact that ATRN's board consists of 5 very well-known board members chaired by a VERY well-known business executive (Jerome Chazen) leads me to believe there is something of significant value, but what is it?
The games being played by the company and their "outside counsel" only serve to reinforce that. Everyone has been saying for months "know what you hold" but can someone specify what exactly those assets are?
Fong is just one of Dyne's puppets, one day Fong will get Dyned and know how we felt to get Fonged.
Yeah I wouldn't doubt it! Atrinsic, Inc. (ATRN.PK) announces their doors will be locked on Monday, May 28. Sincerely, The Temp Receptionist Dude ;)
28 minutes until ATRN issues a PR saying they will be closed on Memorial Day?
Yep, if the company wants shares, LET IT RUN! There are plenty of people waiting to sell.
Chad, who is the newest employee to leave, were you able to figure it out?
Forget what we think the value of the company is for a second. Based upon everything we know, and based upon the fact the company knows who is holding most of their shares, does anyone really expect them to be fair? These guys didn't get rich by being "nice" and "fair", and the fact that they're pissed AND RICH gives them more leverage over us.
I'm not happy with the situation either, I bought expecting $1.00 or more per share and we could have seen it if they supported the run when it blasted thru .35. But they didn't, and they continue to do everything they can do keep the share price as low as possible. Maybe there's more to it than mere vengeance on their part, maybe they really do want as many cheap shares as possible because they're taking it private or have a deal for a certain price.
All I really know is that they have already f*cked us and why would we expect them to reverse course and reward us? I hope I'm wrong.
I have no idea bass, but which patents are you referring to and what value do you place on them? Thanks.
They're definitely closing certain portions of the business that apparently are not profitable to run any longer. The question remains what "remaining assets" they're referring to in the PR. I believe their Intellectual Property is the most valuable at this point. Even if they sold everything for $20m that puts us at over .20/share.
You can say I'm wrong on June 2, until then I'm sticking to what I believe is happening.
I've been saying for awhile now that we would have news around May 31 which is the debt payment deadline. It's no coincidence that we've seen some crazy things since last week with this stock because I think that deadline is very significant and may just be the closing date for any potential transaction between the company and a suitor.
The stock is being accumulated in anticipation of something. And this accumulation is occurring right after the company issued a ridiculous PR to stop the stock from running.
Interesting to say the least.
The PR is real, but one could view it as fake in the sense that it was issued to intentionally cause a sell-off and shake us out. That PR was meant for iHubbers and Doc's group, why else would Fong tell chade that news was coming when the company went dark and every single time someone called they got the same reply: CHECK THE WEBSITE EVERYTHING IS THERE THAT WE'RE GOING TO SAY. And guess what - that PR is not on the website (yet).
Oh, and I agree with Doc, they are intentionally messing with the LinkedIn profiles to f*ck with us. The other day we were saying "well as long as Samantha Morris is still there..." and voila, she changes it to make it look like she's gone. The same with Baker (who is still listed under Leadership Team).
It's SO obvious what they're trying to do and someone told Doc they would do this over 2 months ago, and here we are today seeing it play out.
I'll try to call him again but haven't had much luck. I agree, after saying they're trying to maximize the value of remaining assets they don't just close shop a few days later. I think they've done a deal, the debt is paid, and all these gradual LinkedIn updates being made without any comments or new jobs for Baker and Morris are designed to get more people to sell before next week's deadline.
I don't know bro, but he was appointed in April 2012 and his bio is current. So what does "recently" mean?
Something is up and they want us out of the way. And I'm all for it, but at a fair price.
Remember, "the best-laid plans of mice and men often go awry."
Maybe this has already been posted, but as I've said all along these guys (Dyne et al) are all in bed together. Notice Bermeister was just appointed a Non Executive Director in April so this bio is current! Big things are happening and WE are in the way!
Kevin Bermeister - Non Executive Director
Kevin was appointed a Non Executive Director in April 2012.
Kevin Bermeister is a technologist, real estate entrepreneur, investor and an active author of opinion editorials for the Huffington Post. He is a major benefactor and supporter of numerous charitable organizations and was recently awarded the Yeshiva Center Leadership in Philanthropy Award and has received numerous similar awards in the past.
Kevin is currently Chairman and CEO of Brilliant Digital Entertainment, Inc., and its subsidiary, Altnet, Inc. He has developed substantial businesses in the computing, multimedia and Internet industries. In 1982 he established Ozisoft, one of the first interactive multimedia companies and Australia's largest video games distributor. In 1994 he established the $70 million interactive Sega World Sydney theme park operated through a joint venture which included Sega Enterprises Japan, Mitsubishi Corp. and Mitsui Corp. In 1996,Kevin founded Brilliant Digital Entertainment Inc. and developed various Internet interests including a deal with Joltid Limited to establish Altnet Inc. a company focused on peer to peer network solutions for content providers, consumers, and enterprise. Altnet became a distributor of the Kazaa music service, distributing music via subscription pursuant to agreements with the major record labels and independent labels, and recently entered into a transaction to contribute the Kazaa business to Atrinsic, Inc. Altnet is focused on distributed computing and content management solutions for the digital entertainment markets. One of Altnet’s initiatives is Global File Registry, a content delivery and authorization solution being developed by PersonalWeb that bridges the divide between content owners and ISP’s.
Kevin sits on the board of various companies and has been a founding investor in several successful startups including Skype. He resides in and is based in Sydney Australia.
https://www.cocoondata.com/index.php?option=com_content&view=article&id=71&Itemid=77
Oh, and look at the bio of Philip King, Executive Chairman. He's a Partner in Asia Principal Capital!
The PR is real, let's put that to bed.
But ask yourselves these questions: why would the company issue a vaguely-worded PR 20 minutes before the close on Friday when the stock was on the verge of exploding. Why didn't the company issue any news when the stock was running to over .35? Why did the company go dark?
THEY DON'T WANT US HOLDING THEIR SHARES AND THEY ARE TRYING EVERYTHING TO GET US TO SELL. PERIOD, END OF STORY.
If you know what the company consists of you wouldn't be making this statement. The "agency" is not the whole company. The company has a steady stream of affiliate revenues and also owns valuable intellectual property, amongst other things.
Getting ready for ATRN to explode! You can feel it coming with everything going on and MM's and company trying to hold it back. They want our shares, it has been rumored for months that they hate we're holding onto them and they'll do whatever they can to get them back.
You can have mine, just pay me!
Why are so many key people still hanging on at Atrinsic if the company is toast? Baker is gone as are a few others, but there is still a strong core of VP's and the board is still intact.
Certainly almost any of the remaining VP's could get hired in a minute at any number of companies, so why stick around? Unless they have incentive to (just like those who left have incentive to keep quiet).
When a company is sh*t and going down the tubes, people talk and people bail quickly. Where is the chatter from within ATRN or the industry they operate in? Where is the chatter from those who are gone? Everyone is mysteriously silent for a company supposedly on their last legs of existence.
VERY interesting article:
SAN LUIS OBISPO, Calif. (MarketWatch) — Facebook just joined a “troubled club,” warns the Economist. Now it’s just another “endangered public company.”
Yes, endangered. The number of public companies has declined 37% since 1997. The number of IPOs has dropped from 311 annually before 2000 to 99 the past decade. Meanwhile, the smart CEOs and the Super Rich are “going private,” to avoid government red tape restricting capitalism.
http://www.marketwatch.com/story/how-facebook-could-destroy-the-us-economy-2012-05-22
While I don't normally give credence to anything posted on Yahoo message boards, someone said that Facebook purchased some patents that Yahoo is disputing and they're in litigation over them.
They believe Spyder could be related to this. The timing is right, perhaps ATRN went dark because of this and that's why the Spyder website is down, they can't market it while it's in dispute? It's an interesting theory.
Bingo! They're in a quiet period, I'm sure everyone had to sign a Confidentiality/NDA document including former employees who stand to benefit from the buyout.
Why is Baker still listed on the website under Leadership Team?
Well, what it tells me is that even those who are gone have INCENTIVE to keep quiet. That incentive could very well be the stock that they own.
Here is what else makes me more confident: no one, and I mean NO ONE, who has left the company recently has said a negative word (that we know of) publicly about ATRN. I don't care whether they had a non-disclosure or not, if the company was going down the tubes and screwing everyone over a disgruntled ex-employee wouldn't care because the company isn't going to waste money on a lawsuit that will get them nothing in return. And they all know we're watching every move they make, so why so silent?
You would expect at least 1 PERSON ON THIS PLANET to post or tweet something bad about the company (and I'm not talking about doing it anonymously on iHub).
That is my interpretation, yes.
Yahtzee!
Samantha will have to be a big part of any deal. In fact, she may be the whole key to a deal. I've also considered that perhaps she's trying to put a deal together to take ATRN private, but that's just speculation based upon how important she is to the company.
Exactly. If something is not making money and doesn't have the potential to make money, get rid of it.
No, I think that's the reason Baker and a few others have been let go or left voluntarily. The agency business most likely has no interest to whoever they're in negotiations with, the key assets are the affiliate revenue stream and their intellectual property. Samantha Morris staying on is a big positive for me.
I think the only 2 scenarios where we get news are:
1. Buyout/merger finalized (since they already confirmed they terminated negotiations regarding agency, but I still believe they're in negotiations for their other assets)
2. Going BK
Since I don't believe #2 is a viable option at this point, I think we will only see news when a deal is done. Forget financials or any other updates from the company until then.
No, because "we" would have been buying also at .03 or even lower.
Yep, I'll say it again. Approximately 1/3 of the staunch longs will sell between .15-.25, another 1/3 will sell .25-.50, and the last 1/3 will hold for $1.00+.
Guys, I don't have any proof of a big pump coming; all I can say is that I've been trading for over 20 years and I notice things including strange trading patterns. Accumulation has been very nice since "Black 3:40 PM Friday" and it appears to me that certain MM's are expecting something.
Yes, that PR was from the company on Friday, at least 2 people at ATRN confirmed it so we need to put that issue to rest. One issue (a pump) has nothing to do with the other (the company intentionally tanking the share price).
Again, this is my personal opinion and speculation, I could be completely off base but we all thought the price would drop big on Monday and it didn't. And there has been strong support above .05 for a company that recently went dark then said they terminated negotiations for a part of their business (which we don't even know what part it really is!).