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Wow strong close bodes well for a nice gap up in the morning!
No, because he only said the BOD would issue a statement and address some shareholder questions, it was a generic comment.
I trust chade, and the fact that I've been saying for weeks now that we'll have news by May 31 only confirms what I already believed. You can maintain your negativity (haven't seen one post from you that's not negative), whatever works for you, but I'm optimistic.
If the statement forthcoming was negative there's no way Fong would have told chade anything. He'd be sued in a heartbeat by people buying today based on his own comment to a shareholder that news as imminent.
Seriously, if Dyne the Deal Maker issues bad news on the day of Facebook's IPO it would severely tarnish his reputation in the industry. I just don't see it happening.
Even if they just said:
"Aaron Baker left to pursue other interests and the company is relocating it's offices to _____________" would be enough to ease everyone's concerns.
MM's will try to shakeout as much as they can before the close so expect some wild swings.
I repeat: NO WAY WILL THE BOARD OF DIRECTORS WHICH INCLUDES "THE DEAL MAKER" MARK DYNE ISSUE BAD NEWS ON THE DAY FACEBOOK'S IPO COMES OUT.
Would ATRN's BOD really put out bad news on the day that Facebook goes public? The Deal Maker Dyne would NEVER!
All they need to do is confirm they're not going out of business and this stock will soar.
You mean to save the money they pissed away on Dyne's cronies like Goldfarb?
You need to look at what they did late last year to cause the stock to be at .05, not what they did after the fact at the end of March.
No, the company going dark is what has hurt the stock price, not talk of a lawsuit. If the company issued any news (even if the financials aren't great but they're moving forward) the stock would take off with or without lawsuits pending.
From "Darkter P": At this point, I am his client, as I am not legally representing anyone, and, if a lawsuit is filed, anyone that had losses during the period of the lawsuit, may join it.
Not even milestones, only if a lawsuit is filed, and, after the law firm release information to the public, then I can talk, because that information is already public for all.
Yep, that's why I think annualized revenues are in the $15-$25m range not $40-$50m. And at a sell price of 1 to 2x revenues I think the price (assuming they're bought) is .20-.35.
Regarding the share structure issue you so eloquently detailed, I have to believe that ATRN's lawyers resolved that matter to the SEC's satisfaction (hopefully).
Thanks for your efforts, very nice work indeed.
This is that post that only comes up for a second then disappears. Can you repost it without images or whatever is causing it to do that? Thanks.
I sure hope so; disregarding what we think the actual value of the company is right now, the float is so tight that any buying pressure could send it well past .35.
The fact that ATRN knows this and won't take advantage of the situation is further reinforcement that a merger/acquisition is under way and they are simply prohibited from saying anything. Because nothing else makes sense.
Everything now points to ATRN being acquired as opposed to restructuring or BK (which I outlined the reasons against a BK filing last night).
If true, I still believe it will be in the .20-.35 range (hopefully on the higher end).
Well at least he's still there! These guys have no one to blame but themselves for the situation they're in right now.
If .05 holds today then I'm convinced we are in a M/A situation with this stock; if not then I don't know what to think.
Maybe Baker got FONGED?
I want Samantha Morris as CEO!
I don't have any motive other than to get out of this with a profit if possible. I've been trading stocks a long time, longer than most people here I'm pretty certain of that. I'm just being realistic based on experience.
If you think you're going to get what you think you should get out of fairness you're deluding yourself and others. I'd be ecstatic if that were the case, but history proves otherwise.
We'll see what tomorrow brings. Goodnight.
Do you really believe if ATRN was worth $1.00/share ($87 million market cap) that the stock would be at .05 right now?
I'll ask again: what recourse do you think you have if the best you can get for your shares is .35?
Do you hire a lawyer? Will a lawyer take it on contingency? What specifically will you do as a shareholder who feels he hasn't gotten fair value?
.35 is just a guesstimate based on what I believe annual revenues are, and I think at that price we're looking at 1-2x projected annual revenues for fiscal year 2012.
Look, I understand how you and everyone else feels. I wanted $1.00+ and certainly believed the company was/is worth at least that. But life isn't fair and neither is Wall Street.
My question to you is this: what recourse will you have? Seriously, think about that. We really don't have any, and those who bought for less than .35 have NO damages
Where do get 40m in annual revenues? No one knows what their annual revenues are at this point.
If the company is purchased for .35/share 90% of those holding are going to sell and take what they can get. I don't care what anyone says on a forum, that's reality. Most holding are traders and would welcome .20 to get out of this and move on to another.
What specifically do you plan to do if that's the case? Who are you going to sue? Good luck.
There are only 2 scenarios in play, I think we can now rule out a restructure.
Of the 2 options (M/A or BK), M/A makes the most sense. If they were going BK they would have done it already, why keep paying rent, salaries, etc. - you don't do this when you're filing BK because your creditors want every single penny they can get their hands on. And if they were going BK they wouldn't have sold assets to pay down their debt because those payments could be rescinded in a BK filing.
Why even bother to deregister the remaining 13m shares if you're going BK?
Why have Rifkin attend the Search Summit?
Why would Amy Johnson make a video to try to win a 25K office makeover?
Why hire a high-priced, VERY reputable Consulting Controller?
The company obviously has operating capital.
With the May 31 debt deadline looming, shareholder litigation hanging over their heads, Facebook IPO, etc. now is the time to seal the deal.
Now, that being said, if there's a deal I don't see anything higher than .35 which will make most shareholders shut up and go away (yeah, you will because litigation offers no guarantee at that point and I don't see any law firm taking it on contingency, there are bigger fish to fry).
I said it again today, we're going to know what's going on by May 31.
I think they've been bought, probably in the .20-.35 range. Simply too much history (clients, relationships, reveneues, etc.) to just go down the tubes when we know they didn't have much debt left.
If Samantha is staying on then that's all I need to know. I don't give a sh*t about anyone else there.
Well with all of the allegations of self-dealing and breach of fiduciary duties I highly doubt BD is shorting any stock.
I've been saying for weeks that I expect some type of information (PR, financials, something) from the company on or about May 31.
MM's are playing their usual games with the stock price since there's no buy pressure at all.
From Atrinsic's LinkedIn profile:
First, Atrinsic Media is a growing media division that offers exceptional entertainment content online and on mobile phones. We know how to create engaging digital experiences that continue to attract audiences of all ages. In fact, we have over 25 million unique visitors per month. From unlimited music downloads and ringtones on Kazaa to casual gaming sites like GatorArcade, Atrinsic Media products have something for everyone.
Well it has been well-documented by those who have personally visited the offices in the past few weeks that there are very few people left at the 7th Ave. address.
What that means is anyone's guess at this point. Amy Johnson made the video about the new office makeover, which would lead one to believe they're not merging and merely downsizing/restructuring. It's quite amazing that no concrete info is available to shareholders.
There is no indecision that's why the volume is so low; longs are holding and the company hasn't given any new buyers reason to buy (or us believers reason to sell).
The reputation of the "Consulting Controller" they recently hired is pretty impeccable, I don't think he'd cook the books.
Then why risk p*ssing more money away defending themselves in court when they could just say so? They continue to tell shareholders to f*ck off by saying nothing. Karma is a b*tch in life that's all I know, what goes around comes around. We have rights, period.
Any buy pressure will send this stock flying; if the news is significant enough it could easily surpass $1.00/share in no time.
The company is running out of time to put out news on their own. We (as in Lili) already received the certified mail receipt, so we (she) now have grounds to file a legal motion to force them to show us (her) the books and records.
As shareholders we have rights, we're exercising those rights, and one way or another (either voluntarily from ATRN or thru the courts) we're going to know the truth in the very near future.
That makes absolutely no sense. The only reason the stock went to .008 was due to the actions of the Board of Directors. Just because a few people bought at that price and made a profit doesn't absolve the board from their breach of fiduciary duty. Geez.
Those who continue to think the BOD are working in our best interests are delusional (no offense intended). I've been trading a long time, longer than most here, and what ATRN's board has done is beyond any reasonable comprehension. One simply cannot keep giving them the benefit of the doubt based on any rational explanation. Everything they've done has self-dealing and breach of fiduciary duty written all over it.
Those who support management can't offer any concrete evidence to prove otherwise.
We're going to find out the truth soon, legally or voluntarily from the company.
Nice guys finish last, especially on Wall Street.
I'll support whatever efforts are made by shareholders to find out the truth. I don't care if it's good news or bad news, but we deserve to know what it is.
White collar crime takes place every day. The BOD and management need to answer for their actions WHICH MAKE NO SENSE. It's either complete incompetence or criminal (or both).
Shareholders have rights and we're going to exercise those rights to find out the truth. If it shows they're simply idiots, so be it but I want to know.