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I didn't see IFLM on the daily list to ad an "e" for not filing their 10K. I thought it was 90 days after September 30, 2015. They filed a notice of late filing but only gives them an extra 15 days which has passed.
Just waiting for Fantacy Island's grand opening.
So after thousands of shareholders over the course of seven or so years have lost their shorts time after time and over and over, you sit there in your footy pajamas crying haters shmaters. What a block head.
Empty calories
OK glens0. List some of the good things you have heard about IFLM. You have an audiance. Waiting..... still waiting.....
I'm in for 50 billion.
Their NT10k - Notification of Late Filing expires in a couple of days. I think they possibly are not able to file their 10K for 09/30/13 and may be squeezing this this dry before it is delisted.
Oh yeah.. but when you fly in to their landing pad and are greeted by that Latin guy and his little buddy from Fantacy Island, you will change your tune. Lol
What happens when you try and sell at the bid price?
Well maybe they will put out a release about getting a new typewriter or something for a day of volume. Just don't close your eyes and miss it. Really though - sucks you lost.
Tough tough tough position to be in if you are long. You could be x'd out in a r/s after a merger even if the new business is successful ultimately. It could take a year or two to find a buyer. Bottom line is if it is shell with as you say it has a nice share structure which is also perfect for a shell trying to look attractive for a buyer.
If you don't look at your stock for a few months it could become a nano stock which is a billionth of a penny ((LOL) or it could be gone by being x'd out or it could grow, which I think we will have pinball on Mars before that happens.
You're on your own friend. Best of luck.
Well I thought a shell like this may go for 600 or 700k, in a reverse merger scenario with the founding majority shares given to the buyer in exchange for cash. Why keep trying year after year to get something going when you can cash out? I mean fatigue must be a factor for these guys. I am certainly tired of looking at it.
As a conspiracy theorist, I say shareholders are being groomed for a reverse merger into a hotel concern, thus netting the principles 300 K a piece cash as an exit strategy and a big haha all the way to the bank. Being a capitalist se le ve.
Where the hell is that evangelist? Lordy lordy, if we ever needed devine assistance - we surely need it now. Amen.
You can't see the filed document on the Nevada secretary of state website on 6/17/13 but the blurb says SERIES A PREFERRED STOCK. You guys saw a document increasing the common shares?
I think he meant $30,000 per share to rival Berkeshire Hathaway just on the fundamentals alone.
The law suit seems a good way to make some money and advertise the propaganda that the company's failure was Jr. Capital's fault. I recall a SEC filing where IFLM declared they defaulted on a note in favor of Jr. Capital. Probably fabricating the notion they can't recover and then sell the shell. They couldn't collect on their judgment against Ariva capital and probably wouldn't collect against Jr. Capital since it is probably a one man corp.
Because the company can't and isn't making any money. I personally wish they were a big success and as Lil Piggy says it is a great idea. However, they are in default on a debenture:
"On July 1, 2012, the Company’s $350,000 convertible debenture with Junior Capital Inc. was in default for nonpayment. As of the date of default the Company owed $250,000 plus accrued interest on the debenture." which means they are not going to get further financing, in my opinion. They have other giant debentures to deal with also.
They don't have Ken Eade any longer ((I don't believe) for securities work and have to pay for a securities lawyer.
They have an audit coming up for their September 30, 2012 10K in addition to the astronomical cost for XBRL. That is going to cost $15, 20, 30, or 40K for the audit.
They did the promotion prior to the audit and right after the first 10Q was filed on 8/17/12. Therefore nothing needs to be disclosed until 12/15/12 or 1/2/13 when the 10K would be due.
Hollywood Indy hasn't had a new member for a month and even the weekly wrap up guy stop posting. indy backers - nothing happening and even if it was that money wouldn't pay for enough gas to get to a gas station.
Those websites, I think they said cost under a million dollars have to be paid for and maintained. I bet there are some big issues there if stock was paid for them since the stock plummeted.
The SEC is still seeking input from the public regarding crowd funding so the crowd funding rules and regulations are late coming from the SEC and it is unknown when crowd funding will be legal for lack of a better term.
I think that is what they are facing and I think they needed more time which they have run out of. I wish management was success since the idea is a novel one but the proof is in the pudding as we sit here today and their is plenty of fatigue I am sure to go along with that. Just my impressions.
No blame on the stock promoters. That is what stock promoters do. What about the knuckleheads who received the stock promotion emails and bought based upon that spam, like it was 2001? Do you buy based on a spam email?
I say the buyers are fools and have learned a good lesson.
But there isn't a public company that hires promoters who isn't doing the math:
[$20,000 to the promoters in stock, $70,000 to me from the promotion - but I can expect the stock to go to sub-penny after the promoters get done with it - but I need the money].
That's just the way it is. You can't tell me this was not known to the company? Can you??? Can't tell me this was a surprise to them or they didn't know the outcome.
But what about the folks who bought at .10 and the like as there was the promotion saying it was going to explode?
In layman's terms, does this mean that (adding all the "exchanged promissory note figures) IFLM received (if I added correctly) $1,100,000 cash from all these guys?
If so, is this money still owed plus interest? If so, is all this money due now? I am missing the whole thing I think.
It is garbled. You are not scrolling down enough in the filing.
No. But I know his public company clients received a letter from him stating he can no longer practice as I stated. I can only assume he was required to write and send that letter. Don't believe there are links.
Goes without saying he will be barred from serving as an officer or director of a public company. I don't think you are aware, as of very recently, he is not allowed to practice in the field of securities any longer, for starters. Has no more public company clients and is not allowed to have any. The former CEO of Gold Standard is already barred from serving as an officer or director of a public company and they already agreed to a civil judgment at this early stage if you read the court filings.
A criminal action is guaranteed also against the accountant.
I personally would not want to see that but you can take it to the bank that prosecutors have an open and shut case, they have all the evidence and the witnesses and there is no reason why they won't move forward. Because it's white collar? Why wouldn't they?? To be nice, or they don't feel like it??
That is a very tough and to the point SEC civil complaint. I don't wish ill will to anyone on Earth but I don't see how a parallel criminal action will not follow. Can't believe it. Serious stuff.
Shell was sold. See recent SEC filing.
Oops. Thanks for correcting.
The latest 8K was filed to indicate that their year end Sept. 30, 2011 audited financials cannot be relied upon.
http://www.sec.gov/Archives/edgar/data/1425883/000126246312000212/ifdc8kforrestatement.htm
So they filed the amended 10K on May 25 changing how the deal with the dirivatives.
Crowd funding is still illegal as of today.
----------------------------------------------------
Information Regarding the Use of the Crowdfunding Exemption in the JOBS Act --- On April 5, 2012, the Jumpstart Our Business Startups (JOBS) Act was signed into law. The Act requires the Commission to adopt rules to implement a new exemption that will allow crowdfunding. Until then, we are reminding issuers that any offers or sales of securities purporting to rely on the crowdfunding exemption would be unlawful under the federal securities laws.
http://www.sec.gov/spotlight/jobsact/crowdfundingexemption.htm
Lil Piggy went to market. Couldn't resist.
Long and broke.
This is the biggest bunch of _______ I think I have ever seen or ever read. Bar none.
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=77552
Could you imagine top cancer researchers from John Hopkins and various other institutions coming to this ____ with the status and findings of their LIFE LONG work, logging in and publishing their pricless papers and blogging about their findings (medical research does not work this way AT ALL).
That's like Einstein logging in and discussing with his Facebook friends his E=MCsquared and Manhattan Project work.
Oh my God. "SIGN UP. IT'S FREE. ANYONE CAN JOIN"!!!!
So what am I supposed to do? START CLICKING?
Jeff Ritchie should go PRIVATE and get rid of the lead ball and chain and pursue his dream that way - and answer to no one but himself. He has the connections and the plan and the ability and someone is selling his stock at the bid price in secret in any event. It could be the guy they are involved in the lawsuit with who is selling or it could not be. I'm inclined to believe not.
What's the purpose of being public? Stock can be used to raise capital? (not here), prestige? (not here). The cost and regulation (for good reason) makes it impossible. A $30,000 minimum audit for a company not really doing business, attorney fees. This isn't a sexy a deal to raise folks eye brows.
WTF
.10x.25
Actually hollywoodindy.com is down. And it will be down a lot. I can tell you as a technology consultant, it is a very nice site. However it takes too long to load and respond to clicked links. Everyone knows that if a page does not load within 4 seconds or less we go somewhere else. Constructive criticism.
Second, there is no way IFLM can pay for a full time IT guy to manage the site which is what it would take and also a T1 line and hardware to handle the bandwith it is going to require.
So I don't see it lasting very long. But again, incredible graphics and idea.
BTW: It says on your re-posted press release "posted by Chris Ryan".
He is the president of Viratech Inc., before they used Viratech Corp.
http://secretaryofstate.biz/sosentitysearch/CorpDetails.aspx?lx8nvq=YPDPGE%252f95SuH4fdLWx0jFg%253d%253d&nt7=0
Yeah. Owlwho said the pink sheet description of that protocol crap was a bunch of gobbligook long ago if you search for my post regarding that. But more important - if you don't pay your bills, even though you are CEO of 75 public companies and involved in 75 others, and are the most savvy business person in the world, the mininum wage guy behind the desk at WAMU (now JP) got over on you with preditory lending practices.
Ah, the new USA!!!
It's on the move!! It's on the move. Finally. But why is there a red triangle pointing down and in parenthesis it says (-68.42%) 0.012? -0.026 (-68.42%)
There might be one around somewhere.
Well I used my kid's college fund to buy at .09 when it was on the way up. I don't know what happened. But at least my grandma's cancer is cured. I said "Grams - sign into this new Facebook thing and ye shall be cured." And voila!!!! Symptom free. So it's six of one and one-half of the other.