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A day or two maybe true, a week or more who knows for sure, a month or more who's keeping score, when it begins we all win!
It's been converted to a preferred.. the debt remains until it is paid off.. The common stock holder is the last in line.. does anyone here have any financial background??
no.. I know of him. Joe Sanders, Rene Harmoth, Clair Calvert, and the rest of the players..
Davo will be well rewarded for his timely purchase and should be properly referred to as Bello..
Not gone just patiently waiting..
Hey Doc Brian..It's nice to know your helping support the company..
"We are excited that uVuMobile has optimized their video platform for the Intel Atom microarchitecture and has brought compelling applications to the Intel AppUp center such as the ProTips Sports," said Scott Apeland, director, Developer Network, Intel. "We look forward to working with uVuMobile on future ProTips applications and other video services."
I stand corrected.. Your right.. UVUM is still going to build apps for the Intel platform.. ProTips4u, Hooters and more.. see you back here in a few months..
Just thought for those of you who still have an interest might be glad to know UVUM is doing business with Intel and there's a chance that there might be light at the end of this long tunnel..
Bill Loughman was brought in by Glenn Singer & Michael Criden when they pumped 16mm into the company. The first round of financing 8mm was done at 1.00 and the second at .75 and decided to change the business model from TV to radio. 18 months later the money was gone.. That's when McKelvey raised another 2.1mm.. your time line is off.
You know the old saying about a blind pig.. btw.. Rene had nothing to do with Rick returning to the company.. Daniel McKelvey and Rick went back to try to salvage it.. McKelvey decided to bail out 2 years ago after the 2.1mm that was raised was gone, Then Scott Hughes left.. Rick took the helm.. Now how does a company stay in business unless someone is providing cash to support the business? Check back in a month or two.. let's see where were at then..
try reading the 10K's
I'm sure UVUM will make press releases once they have new content/apps ready to launch with Intel.
What part did i not answer?
Rick Seifert is the CEO and is working with a highly distinguished group of advisory members who are currently obtaining new content for apps.
What liabilities? convertible debt? yes.. other than that.. small outstanding debts that can be easily be settled..
The interest will more than likely be paid-in-kind by issuing common stock) When the new contracts are inked which should be soon.. It's going to be difficult to buy much down at these levels since most of the float has now been accumulated.. It should not take much buying power to get the sp a lot higher.. The goal is to get the stock above the .064 so the warrants can be exercised to provide the company with funds to really begin expanding on the new business model.. They have a lot of new content ready to be built out..
Blue,
Where did you find the purchase price of: 2) The company has paid 1 million dollars to purchase Podiatrists.com
Reread my previous posts regarding the financing that was at .064 with a warrant at .074.. Not likely anyone holding those warrants would want to convert unless the company offered an enticing reason to do so since interest payments are in default.. Investors might be interested if a new deal were offered?
I am not able to share the names of those who invested in the private placement/s or the number of shares the investor/s have accumulated over the past 2 1/2 years in the open market.. other than to say its more than enough! My position is significant as you might have already guessed. IMO... the investor/s will continue to provide enough funding to see this new business model through given the amount of funding already provided over the last 2 years.. In the next few months or so I would expect a PR firm to begin to coverage that will provide a more detailed overview of the future prospects.. I'm a LT holder.. Looking towards 2013 and beyond if the company has not yet been acquired. I am not touting this investment and would suggest you do your own DD prior to investing..
Wonder how he is structuring the buyout.. adding more debt?
The 4.1mm is borrowed against the domain names he owns.
IMO.. The Buyout got flipped and SG bought them..
Daniel Mckelvey/Forte Capital Mgt. received 210,000 dollars cash and 12.5mm warrants for raising the 2.1mm dollars.. As I have already posted, all of those warrants have been sold.. Some of the remaining warrants from that financing were also exercised but from what i have been able to determine roughly 600k remain which if exercised at .064 would leave another 9.2mm shares that could enter the market resulting in a substantial loss to that investor/s Now consider that another 1.2mm has raised over the last 2 years with the same terms when the stock was trading for pennies (2 year chart) while at the same time the same investor/s continued to purchase the common in the open market. IMO, If and when UVUM's new business model begins to show revenues, the stock will be again accumulated in the open market back to where the investor/s did the PP's at .064 and higher. Where does the SP go from there all depends on revenues and earnings. They won't be paying tax's. The 10k filed for year end 2008, reported an accumulated deficit of $79,544,838. However, the net operating loss carryforward for U.S. federal income tax purposes was $48,967,000 available for offset against future taxable income. If the company began to show revenues of say 1-3mm over the next year, I would expect to see a min of 15-30mm market capitation but depending on the growth rate of new business it could be much higher.. right now I estimate there's 120mm shares outstanding at let's sat a penny.. that only a 1.2mm market cap. I'm looking for a 10x-30x roi..
Not all the warrants have been converted.. How do you think the company has been able to stay afloat for the past 2 years? Someone did additional financing's at the same price .064 even though the stock was trading at pennies to avoid the ratchet down provision of the original warrants in 2007. When their ready to move the stock higher it's not going to require much of an investment to clear up all the stock below .064. If the investor/s already did financing's at .064 it seems their already prepared to buy anything else below that strike price.. First the company needs to launch more apps and begin making money.. Once that happens that's when you'll see the clean up of all the stock below .064. The objective would be to exercise those warrants to provide more cash for the company.
If you consider that the lowest financing's that have been completed were done at .064 with an equal warrant at .074.. It would not surprise me to see the stock move up to .064 or higher.. The stock has been under accumulation all along for the past 2 years while the financing's were still being funded well above were the stock was trading to avoid any ratchet downs/ further dilution. See the vol/chart over the past 2 years. IMHO.. it's not going to take much buying to move the stock back to the .064 or higher as news is released about the new content being launched with Intel. As the stock moves above the strike price those warrants will be exercised providing the company plenty of cash to rapidly exspand deployment of more apps..
I've emailed in questions and have not had them answered.. i'm waiting to see the complete fin's.. That will be the tell tale..
I'm not saying that all the warrants have been converted.. of the 2mm financing done Dec 17th I would say there's roughly 500-600k left.. If they converted at a penny and sold the holder would loss 90% of the investment. Since the 2mm in Dec 17th.. I would guess that another 1.2mm or so has been done at .064 over th last 2.5 years so as to avoid the reset. Those probably don't expires until 2013-2014.. UVUMOBILE, INC. AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2008, 2007 and 2006
Options Outstanding
Options Exercisable
Exercise Price
Number
Outstanding as of
December 31, 2007
Weighted Average
Remaining
Contractual Years
Weighted Average
Exercise Price
Number
Exercisable at
December 31, 2007
Weighted Average
Exercise Price
$ 0.09 575,000 9.97 $ – – $ 0.09
$ 0.13 3,580,000 9.83 $ 0.04 741,667 $ 0.13
$ 0.15 500,000 9.71 $ 0.01 125,000 $ 0.15
$ 0.30 680,000 9.33 $ 0.02 170,000 $ 0.30
$ 0.35 – 9.28 $ – – $ 0.35
$ 0.90 – 7.52 $ – – $ 0.90
$ 0.97 – 8.66 $ – – $ 0.97
$ 1.00 325,000 6.85 $ 0.03 296,875 $ 1.00
$ 1.02 15,000 8.92 $ – 15,000 $ 1.02
$ 1.31 495,000 8.78 $ 0.05 356,250 $ 1.31
$ 1.36 250,000 8.41 $ 0.03 250,000 $ 1.36
$ 1.40 300,000 8.52 $ 0.04 200,000 $ 1.40
$ 1.44 – 9.44 $ – – $ 1.44
$ 1.48 250,000 8.15 $ 0.03 200,000 $ 1.48
$ 1.50 – 7.97 $ – – $ 1.50
$ 1.55 1,700,000 7.37 $ 0.22 1,700,000 $ 1.55
$ 1.58 – 7.41 $ – – $ 1.58
$ 1.75 – 8.32 $ – – $ 1.75
$ 1.78 – – $ – – $ 1.78
$ 1.86 – 8.31 $ – – $ 1.86
$ 1.90 500,000 7.84 $ 0.08 500,000 $ 1.90
$ 1.91 195,000 8.27 $ 0.03 195,000 $ 1.91
$ 1.95 100,000 8.22 $ 0.02 100,000 $ 1.95
$ 2.10 1,200,000 8.17 $ 0.21 718,750 $ 2.10
$ 2.20 150,000 8.26 $ 0.03 150,000 $ 2.20
$ 2.25 50,000 5.04 $ 0.01 37,500 $ 2.25
$ 2.30 150,000 6.92 $ 0.03 150,000 $ 2.30
$ 2.53 – 8.18 $ – – $ 2.53
$ 2.77 25,000 8.18 $ 0.01 21,875 $ 2.77
$ 2.90 20,000 7.27 $ – 10,000 $ 2.90
$ 2.91 – 7.29 $ – – $ 2.91
$ 2.95 – 6.76 $ – – $ 2.95
$ 3.27 150,000 8.15 $ 0.40 80,000 $ 3.27
$ 3.50 750,000 6.52 $ 0.22 750,000 $ 3.50
11,960,000 9.56 $ 1.14 6,767,917 $ 1.66
At December 31, 2007, the Company had a total of 40,062,598 warrants outstanding. All of these warrants are exercisable. The life of the warrants range from zero to five years. The exercise price of these warrants range from $0.064 to $6.50.
In the fourth quarter 2008, the Company allowed various noteholders to exercise their warrants associated with the issuance of convertible debt at a different exercise price than stated in the agreements. The exercise prices as stated in the agreements were $.064 and $.074, however, the warrants were all exercised at $.01. As a result of this reduction in the related warrant exercise price the Company recorded interest expense of $1,188,848 and increased additional paid in capital associated with the accounting for the modification for $1,188,848 in accordance with U.S. generally accepted accounting principles.
All the financing have been done at the same price over the past several years even though the stock price has been trading well below the strike price of the warrants. This should tell you something about the companies willingness to do financings below the strike point of the warrant at.064. They do not want to further dilute the existing shareholder/s. As of May 15, 2009, the Registrant had 94,100,195 shares of Common Stock issued and outstanding.
http://finance.alphatrade.com/page/externalpage?src=http://xml.10kwizard.com/filing_raw.php?repo=tenk%26ipage=6346332
In 2008, the Company entered into an agreement (the “Securities Purchase Agreement”) to sell $448,000 of its 15% Secured Convertible Debentures (the “Debentures”) to institutional and private investors (collectively, the “Investors” or “Holders”). The Debentures bear interest at the rate of 15% per annum and mature in March 2011 (the “Maturity Date”). The Company shall pay interest to the holders of the Debentures quarterly on each of January 1, April 1, July 1, and October 1 of each year prior to the Maturity Date of the Debentures. The Debentures are also convertible into shares of the Company’s common stock at a conversion price of $0.064 per share, subject to adjustment in accordance with terms of the Debentures. Any voluntary conversion by the Investors of the Debentures is subject to a Beneficial Ownership Limitation (as defined in the Debentures). In addition, the Debentures are subject to a forced conversion (the “Forced Conversion”) in all or in part by the Company in the event that the daily volume weighted average stock price of the Company’s common stock for any twenty (20) consecutive trading days exceeds $0.256. The Debentures are secured by all of the assets of the Company pursuant to a Security Agreement. In connection with the Debentures, the Company issued warrants to certain investors that have substantially the same terms and conditions and give the respective Holders the right to purchase a total of 14,000,000 and 7,000,000 shares of the Company’s common stock, respectively, at an exercise price of $0.64 and $0.074, respectively, per share for a period of five (5) years.
There will be no ratchet downs/resets to the warrants.. to much stock has been accumulated in the open market to let that happen..If you read my previous posts Dec 17th 2012 most of the warrants expire.. the .064's will most likely come into play and perhaps the .15's in the next year given the potential of new apps with Intel. Don't expect to see much from the company until the cash flow begins.. 6-12 months? Good luck trying to buy any size.. I don't think theres going to be much out there anymore.
If your interested in vesting in this deal i would suggest you do your own DD.. Read the 10k's,8K's ect.. you'll find every question your asking me right there. BTW.. 11.5mm were sold by Forte. They did not have to file any additional docs once they were under 5%.
What if some of the .064 warrants had already been converted and sold at a loss thus increasing the numbers of shares? What if they sold because there are no assets to the company any longer.. better something at a loss than nothing. Kitty.. class is over do your own DD.
On December 17, 2007, the Company entered into a definitive agreement (the “Securities Purchase Agreement”) to sell $2,033,423 of its 8% Secured Convertible Debentures (the “Debentures”) to institutional and private investors (collectively, the “Investors” or “Holders”). The Debentures bear interest at the rate of 8% per annum and mature on December 17, 2009 (the “Maturity Date”). The Company shall pay interest to the holders of the Debentures quarterly on each of January 1, April 1, July 1, and October 1 of each year prior to the Maturity Date of the Debentures. The Debentures are also convertible into shares of the Company’s common stock at a conversion price of $0.064 per share, subject to adjustment in accordance with terms of the Debentures. Any voluntary conversion by the Investors of the Debentures is subject to a Beneficial Ownership Limitation (as defined in the Debentures). In addition, the Debentures are subject to a forced conversion (the “Forced Conversion”) in all or in part by the Company in the event that the daily volume weighted average stock price of the Company’s common stock for any twenty (20) consecutive trading days exceeds $0.256. The Debentures are secured by all of the assets of the Company pursuant to a Security Agreement. In connection with the Debentures, the Company issued warrants to certain investors that have substantially the same terms and conditions and give the respective Holders the right to purchase a total of 12,500,000 and 7,500,000 shares of the Company’s common stock, respectively, at an exercise price of $0.15 per share for a period of five (5) years. The Company also issued 664,063 shares, 1,614,062 shares and 1,614,063 shares of its Series B Convertible Preferred Stock, respectively, to William J. Loughman, its Chief Executive Officer, and Michael Criden and Glenn Singer, former directors of the Company, in consideration for the cancellation of debt owed by the Company to each of these individuals. In connection with the issuance of these shares of Convertible Preferred Stock, the Company also issued warrants to purchase 531,250; 1,291,250; and 1,291,250 shares of the Company's common stock, respectively, to each of Messrs. Loughman, Criden and Singer. These warrants have an exercise price of $0.15 per share and are exercisable for a period of five (5) years. The Company is obligated to file a registration statement with the Securities and Exchange Commission within 45 days of December 17, 2007, which registration statement will include the common stock underlying the Debentures. The registration statement must be declared effective within 120 days from December 17, 2007. The securities offered in the private placement have not been registered under the Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The Company is obligated to register the resale of the shares of common stock issuable upon conversion of the Debentures and exercise of the Warrants. These securities were issued as restricted shares to an aggregate of 31 accredited investors in a private placement pursuant to an exemption from registration provided by Section 4(2) of the Securities Act and Rule 506 of Regulation D promulgated thereunder.
http://www.allbusiness.com/services/business-services/4322191-1.html
I've outlined the remaining warrants in my previous posts..
They are discounting the Pods.. I know of one pod paying 150.00 per month..
Mgt may not have been buying the stock but someone bought a lot of it over the past 2 years all between .01-.02. Check the charts. Now consider that there's over a 1mm in financing done at .0625, an 80mm tax loss carry forward. Probably not much stock left in the float anymore, not many shareholders of record left anymore, Singers group converted all their warrants to equity and sold so the only one's left are a few large stockholders IMHO..
I'm not here to tout.. This is all public information.. UVUM is moving forward with a new business plan which will ultimately bring revenues, EPS and a much higher valuation to the SP.