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Just like being on the cover of SI, I guess OWOO is suffering the old "USAToday" curse.......
Today's filings - interesting notes:
As of November 12, 2014 there were 48,869,166 outstanding shares of the registrant’s common stock.
As of December 12, 2014, there are now 151,433,163 shares of Common Stock outstanding - a staggering 209% increase over the last month.
Tristian Potter is the beneficial owner of 10,000,000 shares of Common Stock. In addition, Reporting Person holds Issuer’s convertible notes in the aggregate principal amount of $46,600.00.
Charles Potter is the beneficial owner of 10,022,334 shares of Common Stock. In addition, Reporting Person holds Issuer’s convertible notes in the aggregate principal amount of $13,878.08.
Charles F. Potter facing foreclosure on his home (same address listed in the new beneficial ownership filing) - Harris County District court case # 201416895-7.
LOL - must have received lessons from Trent and Melton.......you know, the "rules don't apply to me" mentality of doing business and obligations for paying back notes.....wonder if the bank will take shares of OWOO as payment.....
Mr. Potter new beneficial owner (http://ih.advfn.com/p.php?pid=nmona&article=64821054 ), now taking over at OWOO: http://www.technologytell.com/entertainment/files/2013/11/potter.jpg
It is called Liquidated Damages and is very real. The courts will determine if the amount is fair and just.
OWOO Trading History during times of Paid IRP promotions:
November 10-17: Beginning Price = $0.0080, Ending Price = $0.0022 (72% drop)
April 29 to Early May: Beginning Price = $0.09, ending price = $0.015 (83% drop).
OWOO DD: Breach of Contract Lawsuit court date set for next Tuesday - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=108874753
Just in time for the serial paid IRP spammers to hit the board to try to bury facts.
The only verified "buyer" of this POS, is a registered nurse in the name of Donna Harvey from Houston, Texas. According to public filings, she owns approximately 15.8 million shares at an estimated weighted average price of just over $0.0107/share. Her estimated investment has been $169k into OWOO since about August. Since there are no new filings showing a change in her position (either increasing or decreasing), we can assume she has retained her stock position.
At the current price of about $0.0022, the value of her investment is currently about $35k (a loss of about $134k or 79% over the last couple months). It is no wonder that after the stock broke below about $0.01, she is applying her first aid skills in putting a tourniquet on the hemorrhaging.
Somebody cashed in their Happy Meal ticket for 934 shares....must have been the loose change after purchasing their copy of USAToday......
The USAToday article apparently fell on deaf ears - the stock has yet to trade a single share this morning. Perhaps they are having trouble finding the company assuming it is a NYSE ticker with the "World Class Management" team and all.....kinda like trying to find the Lena and Valencia dolls on Walmart.com - can't find it even if you know the name of the doll....
Walmart - can't find any OWOO dolls: http://www.walmart.com/search/?query=Prettie%20Girls&cat_id=4171&max_price=25&grid=true&facet=category:Fashion%20Dolls%7C%7Cgender:Girls&min_price=18
Angelicdreamz - http://www.angelicdreamz.com/ - shut down.
Dollgenie - https://www.dollgenie.com/index.php?collection=35 - selling 4 out of the 5 dolls (Alexie still AWOL) at a steeper discount compared to OWOO website.
Pattycakedoll - http://www.pattycakedoll.com/search?searchwords=prettie+girl&searchsmall_574251200=Search - Lena and Valencia only.
Wayfair - http://www.wayfair.com/keyword.php?keyword=prettie+girl+doll&filters=st_price_range~0~50 - nowhere to be found
Sears - http://www.sears.com/search=prettie%20girls&The%20One%20World%20Doll%20Project_0-25?filter=Brand_Price&catalogId=12605&viewItems=50&storeId=10153&levels=Toys+%26+Games - Lena and Valencia only
Yes....actually 2 Lawsuits: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=108874753:
With this latest lawsuit, what is perplexing to me is that on Sept. 24, the Company announced an $800,000 private equity partnership with Blackbridge Capital, with Ms. Melton exclaiming:
"By the end of the 3rd quarter we will have consolidated and eliminated several of our most expensive institutional and private convertible notes totaling over $415,000. The purpose of this initiative is to phase out at least 50% of the total company debt by the end of 2014" - http://finance.yahoo.com/news/one-world-doll-project-announces-130311461.html
A short three weeks later, on October 15, Ms. Melton signs a settlement agreement with Darling to get rid of their debt at a pretty decent discount ($45k). Surely she would not have signed this deal without knowing she had a big chunk of money from the Blackbridge deal for $800k was in hand? If the Blackbridge deal had fallen apart after the settlement agreement, wouldn't that event have also been mentioned in the latest quarterly report as a subsequent event? I say that because a later event (the Darling lawsuit) occurred much later (Nov. 4), yet there was no mention of the $800k deal showing up in the financials (either as a done deal or not) as a subsequent event. The whole thing smells a little fishy to me.
Why bother with a formal bankruptcy? That path assumes they would want to be protected from their creditors and in the hopes of salvaging the business ...easier/cheaper just to continue liquidation of shares and let it die on the vine.
The problem they have now created is that even at a lucrative conversion price, defaulting all together on existing deals will dry up the lenders appetite for taking the bait for new loans.
Regarding the relief that WHC is asking for in the default judgment includes not only their promised money back, with interest and attorney fees and punitive liquidated damages, but they are also asking for the court to order the company to be prohibited from issuing any new securities or debt until WHC is issued their 22.5+ million shares.
The way I read this is basically putting a freeze on the company ATM until they get paid off in money and/or shares.
Most curious is that about the time the company was engaging with WHC and Darling to settle debt, the Company announced new cash coming in the door in late October to settle the debt. Guess all that fell thru......
Delivering further evidence that the company’s business strategy will deliver shareholder value, OWOO has entered into an $800k private equity partnership with NY hedge fund, Blackbridge Capital. The company is on-track to consolidate and eliminate several large convertible notes this quarter as a result of the partnership, totaling over $415k and putting the company close to its 2014 goal of reducing total debt by 50%.
Wonder if the Company will now be making a "pre-Christmas" trip to NYC prior to Toyfair....
New Breach of Contract Lawsuit filed ion Dec. 3 n NY: WHC Capital LLC v. One World Holdins, Inc.
WHC is seeking action for OWOO's failure to deliver +22.5 million shares on two convertible notes for $40,042.60 and $25,000 respectively. Damages of $416,000 are also being sought after.
Also, regarding the Darling Lawsuit - a motion was made for a Summary Judgment to be heard by the courts on Dec. 23. No additional updates available at this time. Apparently a settlement agreement dated October 15, 2014 was signed by both Darling and Corinda Melton in the amount of $45,000 to be paid by October 24. OWOO defaulted on the settlement agreement and thus Darling is asking for a summary judgment for $57,626.65, plus accruing interest to the date of entry of judgment, plus court costs.
Ref.: https://iapps.courts.state.ny.us/nyscef/CaseSearch?TAB=name
Since beginning sales in the 4th quarter of last year thru the 3rd quarter of this year (year one sales), the Company has sold $55,409 worth of dolls (Cynthia Bailey dolls are probably a small portion of this). After subtracting the cost of sales of $51,340, their gross margin before corporate G&A, overhead, marketing, salaries, etc was $4,069 (or about 7.3% gross margin per doll sold).
You asked "how many dolls have been sold" - the company does not come right out and say the actual numbers, but using some rough math of a sales price ranging from $14.99 (HEB sales price) to $21.95 (OWOO website sales price) for the Lena and Valencia line - you can calculate the quantity of dolls sold. This would equate to range of 2500 to 3700 dolls sold during the 1st year.
Your statement about the doll price being too high brings up an interesting problem for the company. Clearly from the latest 9 month statement where the gross margin, after sales, was a negative $1 - the company is literally giving away the dolls at cost to break into the market - I suspect the HEB $14.99 sales price is break-even for them.
At one point earlier this year, there was comments that a 75,000 doll inventory build for the holidays was forthcoming (presumably to fulfill the initial Walmart order?). At a 7.3% margin on a $21.95 sales price, you are looking at a gross margin of $120k if they are successful in selling all of the dolls out. Not too shabby one might think?
However, keep in mind the company has to pay for that inventory up front (presumably thru convertible debt stock sales), as well as pay for the Operating expenses ($3.7 million for 9 months of 2014), interest expenses, past due** loans (as of September 30, 2014, several of the convertible debentures are delinquent), salaries, advertising, etc, etc, etc....
**On November 4, 2014, we were named as a defendant in a civil lawsuit filed by Darling Capital, LLC, (“Darling”) a creditor of ours, in the New York Supreme Court, County of New York. The plaintiff filed a Motion For Summary Judgment in Lieu of Complaint the same day. The plaintiff alleges, among other things, that we defaulted on our obligations under a Convertible Promissory Note held by Darling. The complaint seeks, among other relief, judgment against us in the amount of $57,627
Maui Jim takes over as CEO. His experience includes being a semi-pro at Tennis and running the cash register at a local go-cart arcade. Touting his "worked hard at bringing shareholder" at NTRR is laughable - pull up the chart for a good laugh. Let's face it, Jim is just a flunky minion called up from central casting to do Kathleen Delaney and Robert Federowicz's dirty work.
OWOO pre-split price in December 2013 was $0.0003 per share.
Post 1:750 split price was $0.225/share.
52 week low of $0.0021/share yesterday is a 99.07% loss since the split a year ago.
The all time high on October 31, 2013 was a split adjusted price of $2.48/share - the company now being valued at a factor of almost 1200 times less.
What a difference a year makes...wonder if the "flexible payment plan for dolls" extends to buying shares of the company.... : http://theotcinvestor.com/one-world-introduces-flexible-payment-plan-for-doll-collectors-1777/
Remember these promises last year for a big "black friday" sales that "should reap rewards in the fourth quarter" resulting in a paltry $4k in gross sales?: http://secfilings.com/News.aspx?title=one_world_doll_project_to_capitalize_where_mattel_and_hasbro_dare_not_go&naid=565
investor876 - for clarity, you mean "her", not "him"? Corinda Joanne Melton is the President and Chief Executive Officer. Although Trent Daniel is the Founder, he does not have any position with the company except as a consultant.
QS - we know you like to rehash material from months ago....but you might want to update the script to show that the Company has only 4 dolls, not 5. The white girl (Alexie) is AWOL from OWOO.....hands up, don't shoot!: http://1.bp.blogspot.com/-3ffvrb4IKOw/UtL3ns3XovI/AAAAAAAAtkw/T2YTbIJeRLE/s1600/IMG_7236.JPG
Next conversion will be for JMJ financial on 12/23/14 (Merry Christmas) for $50,000
At noteholder’s option, the principal amount (and accrued interest) are convertible into shares of DoMark common stock at a conversion price equal to 40% of the lowest closing price during the 25 trading days prior to the notice of conversion.
Assuming the stock price continues to hover here at $0.0001/share, the conversion rate would be 40% x $0.0001 = $0.00004/share.
The 10% interest accrued over 6 months (~$2500) would be added to the conversion, resulting in: $52,500 / $0.00004 = about 1.3 billion+ shares.
This conversion would be followed closely by another note due on 1/3/15 for $36,750. At noteholder’s option, the principal amount (and accrued interest) are convertible into shares of DoMark common stock at a conversion price equal to the lower of $0.081 or 50% of the average of the three lowest closing prices during the 10 trading days prior to the notice of conversion. Assuming again at $0.0001, the conversion rate would be about $37,000 (factoring in 8% interest) / $0.00005 = 740 million shares.
The next big one is for $100,000 on Jan. 22 which will be another 2 billion shares.
That's 4 billion plus in the next two months.
Omar Durham appears to be yet another Kathleen Delaney minion hired from central casting to cover her involvement with CHGT. Omar appears to be good friends with Jammie Hawkins who works for Delaney at the corporate office. Here is her direct involvement with CHGT: http://www.jammiehawkins.com/
The Bordesly Group is yet another in a long line of Panamanian shell business entities that Delaney has used to control the company.
CHGT's corporate headquarters at 777 S. Post Oak Lane, One Riverway, Suite 1700 is a virtual office near Kathleen's real offices a block or two away.
Delaney has a long history of involvement with a number of SEC suspended companies: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68799493
More about being duped by CHGT: http://3dprintingindustry.com/2014/11/17/chgt-suspicious-3d-printing-press-releases-part-2/
UPDATED REPORT CARD/PREDICTIONS
Tagging onto my post from earlier (May 15) in the year, I thought it might be fun to see where we are at 6 months later:
Benchmark
Share Price = $0.0151/share (May 15)
Outstanding shares = 21.8 million (April 14)
4th Quarterly Sales = $20k
Gross Margin after cost of goods = $4k (or about 20% gross margin)
Assets = $0.6 million (Dec 31 - cash, inventory, prepaids, equipment)
Annual Operating Expenses = $3.3 million (or average $0.8 million per quarter)
Annual Interest expense = $0.6 million (or average $155k per quarter)
Working Capital deficit = $3.6 million (Dec 31)
46 Convertible notes = $1.0 million (Dec 31)
Company shares repurchased = 0 (Dec 31)
Longer term (end of year) Predicted
Share Price = Low of Delisted/Grey, High of $0.10 (between now and Dec 31)
Outstanding shares = Low of 50 million / High of 200 million (4th quarter)
Annual Sales = Low of $40k, High of $160k
Gross Margin after cost of goods = $8k to $32k (20% gross margin to remain flat)
Assets = Hi/Low of $0.6 million (I do not expect any meaningful change)
Annual Operating Expenses = Low $3.5 million to a High of $5.0 million for the year
Yearly Interest expense = Low/High of $0.7 million
Working Capital deficit = Low of $5.0 million/ High of $6.0 million (attributed to ongoing cash drain to fund operations)
Convertible notes = Low of $1.0 million to a high of $2.0 million
Company shares repurchased = Low/High of 0
Results
Share Price = Low of $0.0021 (yesterday), High of $0.06 (May 28) - very close to par value.
Outstanding shares = 68.3 million (3rd quarter) - expected to grow to the mid-range of the prediction by year's end
Annual Sales = $72k (thru mid-November factoring in the subsequent HEB sales) - approaching mid-range prediction
Gross Margin after cost of goods = ($1) (not including unknown cost of sales numbers for subsequent $37k HEB order) - gross margin non-existent
Assets = $0.543 million (thru Sept.) - on target with prediction
Annual Operating Expenses = $3.7 million (3 quarters) plus one more quarter (estimated at $0.7 million) = $4.2 million - on target with prediction
Yearly Interest expense = $1.7 million (3 quarters) plus one more quarter (estimated at $0.5 million) = $2.2 million - way over target prediction
Working Capital deficit = $5.4 million (thru Sept) - on target with prediction
Convertible notes = $1.2 million (thru 3rd quarter) - on target with prediction
Company shares repurchased = 0 - on target with prediction
So what does this mean? For me, the Company is pretty predictable - low sales, low margin, high expenses, high debt.
$50 will get you about 24,000 shares before fees.....might be more entertaining than your movie....but not as tasty as popcorn.....
Question on par value: I am following a particular stinky stock, OWOO, that has a stated par value of $0.0025, yet today it appears to be trading slightly under this price. OWOO is a Nevada Corporation. Is the par value limited to what the Corporation can sell shares at or is it also limited to secondary (market makers) markets as well? If limited to all, then what could explain the price being lower than par value?
Correcting information I previously posted on the timing of the $0.01 minimum bid test to stay on the OTC QB status to avoid delisting to the Pink Sheets:
Bid Test
All current OTCQB companies that do not meet the minimum bid test (minimum bid price of $0.01 per share as of the close of business for at least one of the previous thirty consecutive calendar days) will be removed from OTCQB.
Timing
Companies with a March 31, 2014 FYE will be the first group of current OTCQB companies subject to the new requirements and will be required to comply with the new OTCQB standards by July 31, 2014. The rollout will be complete when the last group of current OTCQB companies with a FYE of March 30, 2015 is required to comply on July 30, 2015.
OWOO's FYE is Dec 31, 2014 - the compliance period will apply 120 days later, starting on April 30, 2015. In the event OWOO's bid price stays below $0.01 after that date, the earliest it could be delisted to Pink Sheets would be starting June 2, 2015.
The above assumes OWOO will continue to pay the annual fee required for maintaining their current status and is still in business.
The current 27 days that the Company has been below a $0.01 bid price (on close of trading) would not be applicable to the above rules until after April 30, 2015.
http://www.otcmarkets.com/learn/otcqb
Common shareholders get put in the back, like a can of beans (or an OWOO doll at HEB).
The officers and Founder of the Company have first dibs on just about everything with the Company - namely through 80,000 Preferred AA shares which have voting rights equivalent to 800 million shares (10,000 votes per AA share). Basically with this much voting power, they make the rules in the event the company can no longer stay in business.
They also have 186,000 BB Preferred shares which have liquidation preference over common shares (50 shares for every one of common - or 9.3 million shares). Creditors (which by the way includes some of the officers and founder) would be next to last in line - hoping to sue for whatever remains.
Currently, the only "value" for the average Joe common shareholder, is at par value share price ($0.0025), assuming you can find anyone to liquidate your shares with in the event the company went dark (or grey).
Massive Power News? Beast Alert?....good call...what are you going to tell the bag holders now?
Dang - that is going to be too easy....how about revising the wager for something like par value ($0.0025) instead of $0.0033
Correction to my earlier post - the accumulated deficit was almost $16 million ($15,974,571) as of Sept. 30. (not the $15 million referenced earlier).
What's another million when you have (negative) $1 in gross margin for 9 months of effort.....?
Goodbye Paid IRP's - thanks for playing and entertaining us with yet another EPIC FAIL!
Next goal: Reaching $0.01 before the end of the month to avoid being delisted to the Pink Sheets and/or avoid touching the 52 week low at $0.0033. Any wagers on either/both occurring before Nov. 30?
Yeah - that interview is a classic. This link works better:
http://www.sec.gov/Archives/edgar/data/1017616/000144586613001444/ex991.htm
He talks about many things such as why a 1:750 reverse split was a good thing to get us out of the "dilution zone" to "attract the kind of financing that is non-diluted" - of course, hindsight, we know what happened with that plan. Trent also was clear that 2014 was going to be the break out year on a financial level and sales - neither of which came to fruition.
He stated how good it was for "lowering the authorized shares from 1.5 billion down to 50 million" - of course, now we are right back up to 0.5 billion so not sure if it is still a good thing or not.
Read through the text - it is pretty enlightening reading it one year later and scratching one's head trying to figure out why none of it came true.
In your efforts to "will to maximize" - did you forget to call out the "Power hour" or is it discounted to the "power half-hour"?
Yeah...collectible....like 8-track tapes.....or OWOO stock certificates......
Assuming Donna Harvey did not cash out, nor add to her position, she is now down about another $25k since last week at the current price of $0.004/share.
Her total investment down over $105k in just the past 2-3 months now stands about approximately $63k. She has lost about 60% of her wieghted average purchase price (+/- $0.01/share) - I think we can safely assume she has joined the ranks of the feeble few.
that is probably the funniest post I have ever read! Bravo!
Here's your "HUGE News" - take your pick:
On November 4, 2014, we were named as a defendant in a civil breach of contract lawsuit filed by Darling Capital, LLC, (“Darling”) a creditor of ours, in the New York Supreme Court, County of New York. The plaintiff filed a Motion For Summary Judgment in Lieu of Complaint the same day. The plaintiff alleges, among other things, that we defaulted on our obligations under a Convertible Promissory Note held by Darling. The complaint seeks, among other relief, judgment against us in the amount of $57,627.
Sales decreased to a meager $5692 on cost of sales of $13,988, resulting in a negative gross margin of ($8296). For the nine months of 2014, the gross margin was negative $1
Shares outstanding as of November = 68.3 million (an increase of 42.4 million or 164% increase since the last quarterly report)
The working capital deficit (i.e. the immediate money the company needs to run its business which measures the true health of the Company), is now at $5.4 million (up from $4.5 million or up 19% from the last quarterly statement.
At September 30, 2014, the convertible debentures and related accrued interest payable were convertible into approximately 241,019,000 shares of our common stock. As of September 30, 2014, several of the convertible debentures are delinquent.
The Company issued a total of 19,433,774 shares of their common stock for debt conversions of $34,825 (converted at $0.0018/share!!) - was this your $34,500 compensation fee?? Inquiring minds still want to know!
stockman69 - here's one for you from memory lane right shortly before crashing to $0.015: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=101317434
budfox - how are those negotiations going for brick and mortar shops promised back in April?: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=101313854
How about the promised cartoon show? Have they finished signing R&B singer, DeAndre Wright for the voice of Lena?? 2014 is fast closing on that promise: http://oneworlddolls.com/the-one-world-doll-project-begins-production-of-prettie-girls-cartoon-series-and-feature-film/