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I was hoping this would turn out differently. Didn't mean to light a fire, but I don't make the news. I just report it.
I could add my guesswork regarding the information gaps, but it won't change the bottom line. Whoever sold today, made a good trade. They got something for nothing. I may try it also. I might be able to buy a tank of gas for my shares.
In the meantime, I will be taking my own advice and do something more productive. Maybe VNTH? LOL!
Regards,
Nitroman
Gater, Yes. That is what I am saying based on what JB told me. And it seems to fit the facts. Since then we have not seen MSGI, Inc. connected to any statement regarding Nanobeak or VNTH. Nanobeak is shown as a privately held corporation. How did that happen?
I agree with SD. I have no problem with somebody taking the name, if it were truly a dead company. But don't see how anyone can take the license agreement that belonged to MSGI. A lot of development of that technology was done with MSGI stockholder money.
Nitroman
I am an open book. What do you want to know?
Did I speak with Jeremy?.. Yes, last Friday night. I said I was going to do some digging.
Do I know him? No. First time call.
Where did I get his number? Do you know Edgar? It wasn't that hard to find. He picked up the call.
I told him I was a stockholder of MSGI. Then, I asked him what stake, if any, does MSGI have in Nanobeak. Answer: Nanobeak as related to MSGI is closed. A new corporation (apart from MSGI) was formed with the same name, since it was available. "it is just a name" - j.b.
How the License agreements could be transferred to the "new" Nanobeak, Inc. apart from MSGI, I do not know. I sent a follow up email to JB asking him to explain. No answer, so far.
MSGI is the only penny stock I own. I only thought I was going to benefit from progress of VNTH. I think this explains my posting trend.
Let me know if you have any other questions. But, I would be interested in pursuing any options for recovery. I have a decent amount of money invested in this loser.
Nitro.
Hey Gater. I had the some of the same questions. Like you indicated, that 8K made it appear that he was still working to get MSGI re-listed. And he was. However, if you see the responses from the SEC related to that attempt to change the independent auditor, you will see that they were clearly irritated. I think this was the final nail in the coffin. It seems to me that the SEC felt like MSGI did not properly disclose risks associated with their business.
This is what I can gather.
- 8K from July 23, 2013 stated the conversion of debt.
- 8K from July 25, 2013 was the notification of change of independent auditors.
Following the 8K filing of July 25, the SEC requested explanation about why they felt they did not find it necessary to disclose certain information related to two comment letters from the Staff of the Securities and Exchange Commission dated March 1, 2011 and July 14, 2011.
- 8K amended Aug.22, 2013 with the following:
Item 4.02. Non Reliance on Previously Issued Financial Statements
(b) As disclosed in section 4.01(a) found above, during the research of and preparation of response to certain comment letters from the Staff of the U.S. Securities and Exchange Commission dated March 1, 2011 and July 14, 2011, conversations with the Staff of the Securities and Exchange Commission and the results of a valuation report (which the Company obtained from an independent valuation firm valuing certain derivatives related to convertible debt and equity instruments), the Company was advised by its independent accountants, L J Soldinger Associates, LLC, that Staff comments surrounding the valuation of certain derivatives related to convertible debt and equity instruments would more-likely-than-not result in a material impact to and a required restatement of prior financial statements. This advice was received from the independent accountant during the period of July 2011. As such, the Company’s previously issued financial statements for the fiscal year ended June 30, 2010 included in the Company’s annual report on Form 10-K as well as the financial statements for the three month period ended September 30, 2010 and for the three and six month periods ended December 31, 2010 included in the Company’s interim reports on Form 10-Q should no longer be relied upon.
The Company’s independent accountant discussed these matters with the Audit Committee and with authorized officers of the Company in July 2011.
As a result of the Company’s being delisted and going dormant in June 2011, amended filings on Form 10-K and on Form 10-Q for the periods involved were not filed with the Securities and Exchange Commission. The Company plans to file amended reports on Form 10-K and Form 10-Q for each of these periods with the Securities and Exchange Commission as soon as practical subsequent to the filing of this current report on Form 8-K.
So, it seems there was an effort to get the company up to date, but he ran out of money and it never happened. So, the company died. Last 10Q was filed on Dec.31, 2010. Delisted in 2011. A sad story.
Nitro.
I have good news and bad news. The bad news is that MSGI is closed with no plans for re-listing or any other type of resuscitation. The good news is that you & I do not need to waste any more time hoping for something to happen with this.
I spoke with JB over the week end. I hope I have this straight... He told me that the MSGI subsidiary corporation we knew as Nanobeak, was closed when MSGI was closed in 2011. Since there was no copyright on that name, it was available to anyone who wanted to use it. The new Nanobeak, LLC, as you know, is a privately held corporation.
MSGI stockholders have no equity in Nanobeak or Vantage. I don't know what else to tell you. Very disappointing, but I think I need to officially move on.
Nitroman
Thanks for digging up that history. JB is not the sole owner of Nanobeak. For sure,MSGI holds some percentage. The shame is that this breakdown is not part of the public record. Let me see what I can find out from Westlaw. Give me a day or 2.
MSGI shareholders will definitely have to be compensated. The Space Act Agreement was between NASA and MSGI. There are many investors besides us who expect to reap the benefits of any business that emerges from this commercialization. And we will. However, it will be reduced because of the involvement of VNTH and the ownership manipulation of Nanobeak.
The medical application of this technology is the biggest prize. It is wise to get this technology to market as soon as possible. A shame that MSGI had to dilute the ownership. When JB got bounced, he didn't have too many choices. Don't fret too much. We will have a stake in the business. I expect details to emerge near term. Just not sure when.
We are still here. But what can be said that hasn't been said a dozen times already. I think MSGI stockholders will have to be compensated if the business is developed under the Vantage Health Corporation. Likely MSGI shares will be converted into VNTH shares at some t.b.d. ratio.
Hopefully, they don't screw us over too badly. It would be very unfair to use the current stock price as any measure, since they abandoned MSGI like it had Ebola.
I think we will get converted if/when we see a launch plan for the technology through Vantage. However, time will tell.
We are still here. But what can be said that hasn't been said a dozen times already. I think MSGI stockholders will have to be compensated if the business is developed under the Vantage Health Corporation. Likely MSGI shares will be converted into VNTH shares at some t.b.d. ratio.
Hopefully, they don't screw us over too badly. It would be very unfair to use the current stock price as any measure, since they abandoned MSGI like it had Ebola.
I think we will get converted if/when we see a launch plan for the technology through Vantage. However, time will tell.
Don't be surprised to see the stock price go back down to $0.04 or even lower. It is very common to have a double bottom pattern. It is just the way it is, especially when there is no particular reason for the price to go up.
You missed a post by one of our guys who essentially said you are an idiot for having any hope for MSGI. LOL! As you know, I have traditionally been the most negative poster on the board. So, he was only slightly more negative than me. Out of frustration he was a bit insulting. I think we can all appreciate that he is frustrated. Who isn't.
Weekend starts on Wednesday this week. Have a good one.
Nitro
They pulled down your post! I guess we are only allowed to pump MSGI on this board. For my part, I can deal with a dash of harsh reality from time to time.
For now however, I will choose to be slightly more optimistic. And to barrow a line from Miracle Max from the movie Princess Bride, "It just so happens that your friend here is only MOSTLY dead."
VNTH is the key to MSGI's future. If VNTH can get going, then MSGI will eventually recover. We should know something in a couple of months. The picture should be clearer then.
Y'all keep warm.
LOL! We do what we must to survive. Let's see what 2015 brings.
I think it is just about official... 1 full year without a single solitary piece of news. Wow! Even I expected something better from MSGI than that.
I suppose... in some ways it makes sense. They made the decision to introduce the technology via Vantage Health. Until clinical trials and FDA approval are obtained, there is not much reason to bother getting MSGI re-listed. It only burns time and money.
Despite the pitiful state of affairs, I remain optimistic that we will eventually make a couple of bucks. But that is putting the cart way in front of the horse... Let's hope for positive developments with VNTH this winter. Wait a minute... it IS winter!
In any case, until then... keep warm, drink whiskey.
Nitroman out.
Gater, you are correct. Nanobeak is the Parent company. MSGI is the dead grandparent.
It's a sad story.
I think the decision not to name the parent company is easy to explain. Corporate announcements are intended to shine favorable light on the company activities. Naming MSGI would only tarnish the announcement. Why would they want to draw attention to the de-listed, dis-functional parent company.
WE agree. MSGI owes its stock holders the facts about the ownership of the company. This is a publicly held corporation, albeit a piece of crap. I think a law suit is just what they need to wake them up.
I would support that.
Nitroman
I am a little past "starting" to have doubts. I agree with SD, we are past the time for "quiet period". JB's actions are akin to the actions of an infamous boat captain. In 1965, when a fire broke out aboard the SS Yarmouth Castle, Captain Byron Voustinas was on the first lifeboat, which had only crew and no passengers aboard. 90 people died.
JB has made sure he got in the lifeboat. Y'all can sink or swim, he evidently doesn't care.
Firstly, don't mistake me for someone who knows jack. I never met him. But, I don't think MSGI has the right to license this technology to anyone else. Therefore, if they are to make money with the license rights which they have purchased they need to have a product to sell. Taking a technology from the lab to the market takes serious money. If MSGI can get the ship moving with VNTH and demonstrate a functional product and show some revenue, then venture capital resources will be available to do other things.
I see that MSGI is still listed in the Hartwell Capitol Consulting list of clients. So, they likely have the right connections. But big investors want to see some product and sales before they jump in. (you watch Shark Tank, don't you?)
Listing MSGI right now doesn't really serve too much purpose. If VNTH doesn't get off the ground then MSGI is dead anyway.
Here is my opinion of what is going on... Nanobeak is the parent company of Vantage Health. Vantage has issued 189M shares. According to VNTH 10K, Nanobeak owns 58%, or 112M shares.
As gdl reported, "Nanobeak Inc is beneficially owned by Jeremy Barbera". However, I do not believe that he owns 100%. I think he own just over 50%. The rest is still owned by MSGI. So Nanobeak is not publicly traded, but it could be someday, if & when there is 1.) a product 2.) there are sales and revenue. Neither of these will happen without the FDA approval.
In any case, it seems that the focus is on getting FDA approval. That opens the way for Vantage to get something to the market, which will have its own obstacles. But, human trails must be completed and FDA must give approval.
Hard to say if human trials have begun or not. I would like to believe the one story that was linked previously, but cannot be sure if the information was accurate. Time will tell. Once FDA has approved the device, then MSGI would have good reason to get re-listed MSGI. Until then, I don’t see any benefit to do so.
In summary, there a lot of outstanding shares of VNTH. MSGI owns 49% of 112M at best, and maybe less. So don’t plan to make much money from VNTH. If MSGI ever gets relisted, they could start to develop some of the other applications for these VOC sensors.
In 100 years, the stock might be worth something. The next few months should shed some light on the road ahead. That is my take on things.
Nitroman over & out.
Stocks have a way of being priced at what they are worth. Consider MSGI for a moment... No money, no sales, no president or CEO, not listed on any exchange... just to name a few highlights. I think it may be overvalued.
p.s. - It would be great if Y'all stopped blammin' the Shorters for the problems with this stock. Good grief!
On the bright side... Well, there isn't a bright side. But if there were, it would go something like this.... JB gives the court $100g's that he earned illegally and settles his grudge with the SEC. Things go well with the human trials and in 9 months they get sufficient data to present to the FDA. FDA returns positive verdict 6 months later. MSGI begins to emerge from the ashes. Unlikely, but possible.
I think I will learn a foreign language. I should be fluent by the time this stock does anything. I'll check back in late 2015.
Nitro out.
Hey, Guys, The statement reads, "Barbera and MSGI agreed to settle the charges". That means it will not go to trial, so he won't be found guilty. The word guilty can only be used if he has been tried in court.
I really get annoyed with those who are complaining here that the SEC & government is picking on MSGI. Wow! How ignorant can you be. If Barbera allows his name to be on an announcement, he better be sure of the truthfulness of the contents. In this case he either knew the announcements were untrue or did not bother to check out the facts. Is this the kind of guy you want at the helm of your company?
As for me, glad to see the change.
Welcomed News Release. We finally have some truth. Embrace it and be happy you are no longer being mislead by a liar. Perhaps something good may finally happen with this stock. If nothing else, you can all (including me) quit wasting your time following this stock and message board.
Nitro
Perhaps it finally dawned on someone at MSGI that the new website was not "Coming Soon!", like it has been advertising for the last 2 years or so. Taking it down was a kindness! They fail to recognize that there are idiots like us who believe what they read from the company. Now at least you won't have to worry that you have missed the unveiling of the new website. They don't have plans to launch a MSGI website.
In a way... that makes sense. I believe it is the intention of MSGI to become the holding company of several subsidiary companies. Those companies will have their own websites. There will not be a MSGI website.
Of course the chances of VNTH or Nanobeak becoming money earning companies is remote.
Some of us are well familiar with this article by Mr. Vardi. What I always found interesting about it was how he managed to publish it on the SAME DAY as the SEC released their announcement, June 7, 2011.
The article has a clear ring of contempt. There is an amazing amount of research, considering it was published less than 8 hours from the SEC announcement. Do you think, perhaps he had some prior knowledge of the SEC actions? I think so, don't you.
I then wonder if the author might have shorted the stock. That would have been a great trade back then. But what if MSGI came back to life? That could be bad... very bad. The success of VNTH would have disastrous consequences for anyone in a short position on MSGI. Those long on MSGI are not selling.
Then I looked at your Alias born date: 1/15/14. Kind of recent, wouldn't you say? Why the sudden interest in VNTH?
Nitro
Despite my sometimes pessimistic comments, I think it is just a matter of time before MSGI is re-listed. I agree, the waiting process is painful, especially when we see VNTH moving upwards. It may be helpful to keep in mind that MSGI owns a significant percentage of VNTH via Nanobeak. So while you can't see it, your portfolio is getting stronger. Long term, MSGI is the better investment.
Nitro
I must agree with Jeffness. I don’t think J.B is focused on getting MSGI re-listed at this time. This is the way I see it. Between MSGI & VNTH, there is very limited cash. The #1 priority is to get the product to market. For some reason, there were problems associated with getting MSGI relisted. Thus he took an alternate course. J.B. made the decision to purchase controlling interest in Vantage Health through Nanobeak. (Nov. 2013)
At that point he was financially committed to bring the technology to market through VNTH. Clinical trials are evidently in progress. Re-listing MSGI will do little to increase J.B’s net worth at this time. It will only add burden, since he would be required to file financial statements, etc..
Nanobeak owns 112M shares of VNTH. J.B. is the majority owner of Nanobeak. How much of that is owned by MSGI I have no idea. Bottom line: Your share of any wealth is not going to be the millions you were hoping for. We will have to see how things plays out. We might eventually make a couple of bucks.
- Nitro
No need to apologize and no you cannot have my +900,000 shares of poop. Nothing to gain with that trade. I just find the optimism of some to be humorous. Likely their first spin in pennyland. This is not my first, so I know how it can go.
I am not saying to give up hope, but Y'all gotta understand that the comments that JB and others have published are the hot air. Sorry to be the one to bring you back to earth, but this is looking more like a failure to launch every day.
Nitro out.
Some of you do not comprehend the benefits of being 1st to market or getting TO market at all. Have you ever seen the 1st Apple computers? They weren't pretty. They were compact. But they were for sale and people bought them.
If anyone gets this technology to market in any form they will OWN the market. I don't care if it is as big as a house. Quit dismissing competition that is not as sexy as an iphone adapter. A doctor's office will not be using his iphone to check your breath. This product will not be sold retail. It will be business to business. Smaller is better, but something is better than nothing. And nothing is what MSGI has to offer right now.
On another thread, anyone buying this stock is seriously lacking soundness of mind. You hope so much that the price of this stock will rise that you have convince yourself that you can will it to rise. You are pitiful. There is so very little reason to indicate that this company will ever see the light of day. Yet, you go on believing it will. Stop living in a dream world.
We need to start asking ourselves the hard questions, like: Why is this stock not yet re-listed? Why is nothing happening with VNTH? Where is the product? If this were simply a matter for the accountants to handle with the SEC, this would be done by now. What is the problem?
Enough for now.
Nitro out.
I meant tomorrow. I'll never be wrong with that prediction.
I was just messing around with that prediction. According to my source, MSGI will get re-listed tomorrow. I can't say anything more.
If you mean JB is out of sight, then I guess I agree with you. I personally think he needs to get this product to market in a hurry through VNTH. This technology is obviously coming. Do not assume MSGI/NASA is the only player in the field. If he can't bring it, someone else will.
The fact is, we have NO idea where we are relative to product development, financing, re-listing. I agree there are some signs of progress, but they are scarce. If we don't see some substantial news in another month or so, then there is little reason for me to think that this will ever get off the ground. There is no reason for this technology not to move forward under the present license agreements. Re-listing MSGI has little to do with anything. Although it would make me feel better.
It seems many of you are thinking that there is something special that is going to happen if MSGI gets relisted. I am not saying this is not important, but what do you think is going to happen? What was the point of acquiring VNTH? If this technology needs a path through which to “develop” and market a product, where is it? JB is the majority owner of VNTH, and MSGI is the minority owner. So, I guess that may answer my question about why no news. I am just not sure of what impact re-listing MSGI will have. Whatever could happen, should happen now. The fact is… there is no road block.
You ask when?.... Hmmm.... Let me crunch the numbers:
\; \frac{X_1+X_2+\cdots+X_n}{n} \; \to \; \int X\, \operatorname{pr}(x)\,dx\text{ as }n \to \infty
result = May 26th, 2014.
On the other hand, we could just as easily get de-listed from the greys! LOL!
Nitro.
Hey Y'all,
What'sup? Yikes! From what I can see... not much. Do not despair! Things are about to change. I am not basing this on any facts, but it sounds good.
I'll check back with you in a few months. I expect you guys to have this ship sailing by then. I really need to quit my job and I need the money.
Thanks much,
Nitro
Gater,
Haven't they been working on getting re-listed, since they were delisted in June of 2011? Since then, what have they accomplished? (+2 1/2 yrs. ago) Next to nothing.
On July 25, 2013, the Company engaged MaloneBailey LLP as the Company’s new independent registered accounting firm. We thought that they would be working on getting re-listed since then. That strategic maneuver has had about as much effect as a ! How hard can this be? Seriously, what is the problem?
Then there is the VNTH deal. If that ever gets traction, and that is a big IF, Jeremy will be the main beneficiary. He is the majority stock holder. Everybody else can get in line behind him for any chance of financial gain. I don't blame him for that however. He has a lot of out of pocket money wrapped into this dream. But the fact is that there is REAL competition coming and they will have the money to take it from laboratory to customer. MSGI is stuck in quick sand.
I am tired of wasting my time with this pipe dream. I'll check back with y'all in 6 months.
Nitro out.
Oh yea.. go MSGI.
This stock is dead. Write the obituary. Order the tombstone. This one is not coming back to life. I've seen dead before and this is dead.
The point is that without being listed, there is no market. If you tried to sell your stock, you would get spit for it. Hence, the current price of the stock has nothing to do with reality. No need to even discuss it, unless you choose to live in dream land.
Share price of this stock means nothing at this point. The only real point of discussion here should be the matter of filings. The question is when is Mr. J.B. going to get this done? Please refrain from directing any accolades toward Jeremey until he can finish this one task. Until then, there is no basis for compliments. His "moving forward" comment is just talk, at the moment. Another week gone.... How about some action.
Bogwon,
I am glad someone else here sees the big picture. Getting rich only means that you will die in a better zip code. Nothin' wrong with that, but money will likely buy us more trouble than anything else.
If these goof balls don't figure out how to file their past earnings reports, we won't have to worry about that. Re-reading that old news release from Sept. 2009 that Paulness just posted is enough to kill me. I cannot believe it has been that long ago since this once had so much promise.