Any idea what the float is these days?

Pro

Any idea what the float is these days?

Pro

Still here. Still holding. I check in about once every 6 months but to be honest there hadn't been any action.

So - first, still alive and holding. Just ghosted myself in disgust after wasting the money i did on this stock back in the early days.

Questions:

#1 Why are we still trading?
#2 Who is buying?
#3 Why are they buying?

Pro

Here, lurking with nothing to report and no rights as a shareholder...

Pro

PE Ratio

You might see 10x-15x or more on a real estate asset stock.

Pro

Wheel opens May 6th. Maybe they'll claim the NOL's and go for the public traded multiplier at the same time. Reverse back into the shell.

I know there were about 8 million shares outstanding in Stock Options. 3.5 million to Kitchens and US Thrills alone. Why take the time to cancel them now?

One thing is for sure. There is no chance they will do what is right for the shareholder - only what is best for Sillerman and Co. If we, the common shareholder, are lucky enough to go on the ride up with Sillerman's plan, just remember - its a precipitous fall down quickly thereafter. PUMP N DUMP boys and girls.

Pro

Wheel opens May 6th. Maybe they'll claim the NOL's and go for the public traded multiplier at the same time. Reverse back into the shell.

I know there were about 8 million shares outstanding in Stock Options. 3.5 million to Kitchens and US Thrills alone. Why take the time to cancel them now?

One thing is for sure. There is no chance they will do what is right for the shareholder - only what is best for Sillerman and Co. If we, the common shareholder, are lucky enough to go on the ride up with Sillerman's plan, just remember - its a precipitous fall down quickly thereafter. PUMP N DUMP boys and girls.

Pro

http://www.prnewswire.com/news-releases/morgan--morgan-announces-investigation-of-sfx-entertainment-inc---sfxe-300042891.html

From another company's 8-K

On January 21, 2015, Spriza, Inc. was notified by L.L. Bradford & Company, LLC that Bradford has merged its SEC business with RBSM, LLP. Pursuant to this merger, the company's financial statements will be audited by RBSM, LLP and no longer by Bradford. On January 21, 2015 (the engagement date), the company engaged RBSM LLP as its independent registered public accounting firm for the company's fiscal year ended December 31, 2014. The decision to engage RBSM as the company's independent registered public accounting firm was approved by the company's Board of Directors.
Read more at http://www.stockhouse.com/news/press-releases/2015/01/29/spriza-approves-change-of-auditor#x3XfD8jUeStOtAW3.99

Yet another mystery....

Pro

Who the fu€k knows. The longer they continue to report on this shell, the more I wonder. Even with in house counsel, it costs them time and money to report and maintain SarbOx.

Pro

It's exactly these types of manipulation schemes that give me hope that our so called company directors will hatch a similar ill fated plan for CEXE. Allowing me to salvage something after a quick departure.

Pro

Okay - the stock is worthless. Everyone knows it. So the only question is why they've kept this POS afloat for so long?

Are the NOL's valuable enough to wait until the wheel opens, reverse the business structure back into the shell, and write the NOL's off for two or three years?

Pro

@Ben

Just for clarification. No one left standing (I hope) believes that there is any value or assets assigned to CEXE. No, this is just a tragic comedy that I follow. Forced to watch - with over 1 million shares of worthless stock still in my account.

Pro

Public, to private, to dissolution. WTF are these guys scheming?

If they BK - we've a much stronger chance of litigation against the partners for self-dealing.

By the way, the wheel is almost done.



The Orlando Eye at I-Drive 360 on International Drive will hit a new milestone this month — installing the rider capsules.
Unicorp National Developments Inc. Principal Chuck Whittall said in two weeks the 400-foot-tall wheel should begin adding the 6,600-pound capsules that will hold 15 riders each. The wheel will have a total of 30 capsules, meaning the ride can hit a maximum capacity of 450 people.

New attractions create both new construction and permanent jobs in Central Florida and help bring more visitors to Orlando, adding a boost to the region's $50 billion tourism industry.

The wheel is slated to open sometime this spring alongside a Madame Tussauds wax museum and the Sea Life Orlando aquarium, which are all attractions owned by Merlin Entertainments Group Plc.

The plot thickens... "and Paul Kanavos of New York-based entertainment venue developer Circle Entertainment Inc.,"


The Wyndham Orlando Resort International Drive has some growth plans for the future.
http://m.bizjournals.com/orlando/blog/2015/01/i-drives-wyndham-orlando-resort-wants-to-add-1-000.html

I-Shops Orlando LLC, whose principals include Chuck Whittall of Orlando-based Unicorp National Developments Inc. and Paul Kanavos of New York-based entertainment venue developer Circle Entertainment Inc., will seek approvals from Orange County to add 1,000 new hotel rooms and 35,622 square feet of commercial/retail space to the 613-room Wyndham.

A project like this will improve Orlando's ability to cater to leisure and convention visitors, as well as generate new temporary construction work and permanent hotel jobs. Whittall said via email there is no timeline set on when construction could begin on those new rooms.


Orange County's commission will meet Jan. 6 to decide on the zoning approval changes needed for the property to move forward with the expansion.

Unicorp has been busy building on International Drive including the $100 million I-Shops project and the $200 million I-Drive 360 entertainment district slated to open sometime this spring. Together those projects are expected to draw 3 million annual visitors.

In addition, the Wyndham Orlando Resort in March 2014 completed its $100 million renovation, which started in 2012.
Check back with Orlando Business Journal for more on this developing story.

New 8-K / No $.03 buyout, but maybe bankruptcy. The saga continues...

Other Events, Financial Statements and Exhibits


Item 8.01 Other Events
As previously reported, on December 27, 2013, CEN Holdings, Inc. ("CEN Holdings"), an entity controlled by Paul C. Kanavos, the Company's Chief Executive Officer, Robert F.X. Sillerman, and Brett Torino, each a greater than 10% stockholder of Circle Entertainment Inc. (the "Company"), delivered a letter to the independent members of the Board of Directors of the Company in which CEN Holdings expressed its intent to acquire all of the Common Stock of the Company that they do not beneficially own for a purchase price of $0.03 per share pursuant to a short-form merger and related transactions (the "Proposal").

On December 31, 2014, CEN Holdings delivered a letter (the "Letter") to the independent members of the Board of Directors of the Company withdrawing the Proposal.

In addition to the Proposal (prior to being withdrawn), the Board has been evaluating a liquidation or dissolution of the Company because it does not currently generate any revenue from its location-based entertainment line of business, which requires significant capital and financing, and it does not have any definitive funding commitments in place (or the ability to complete equity and/or debt financings) to fund short-term or long-term liquidity needs, including making cash capital contributions to the Orlando, Florida project in which the Company has a minority ownership interest to fund the project's development costs in excess of those budgeted therefor. Thus far, the development costs for the Orlando, Florida project have significantly exceeded the budgeted costs therefor and, as a result, the Company is required to fund its ratable portion of such excess costs in order to maintain its minority ownership interest in the Orlando, Florida project. The Company is not able to fund its ratable portion of these excess costs and unless it does so, its minority ownership interest in the Orlando, Florida project will be significantly diluted in terms of ownership and value.

The foregoing description of the Letter is not complete and is qualified in its entirety by the full text of the Letter, which is filed herewith as Exhibit 99.1 and incorporated herein by reference.



Item 9.01. Financial Statements and Exhibits.

This specifically references Circle Entertainment and Paul Kanavos.

http://m.bizjournals.com/orlando/blog/2015/01/i-drives-wyndham-orlando-resort-wants-to-add-1-000.html

If you look, you can see the wheel in the background. That stings a little...

http://www.businesswire.com/news/home/20141117006255/en/Mango’s-Tropical-Café-Owners-Unveil-Track-Design#.VGpf2YeObWx

Should have bought stock in Kitchen's company.

Pro

Pappa:

My apologies. Full retraction on my part!

I read "we are sitting on a goldmine" - not "we were sitting on a goldmine", so my bad. Too early...

Pro

Pappa

I can only assume you are joking...

There is absolutely no way they (CEXE majority owners) would or will add assets to a swollen, debt ridden POS shell like CEXE. They will flush (or try to flush) CEXE with the accrued debt and losses down the proverbial penny land shitter and walk away.

90 days later....

They can buy a clean sheet, reporting OTCBB shell for $250k and drop the assets inside. Boom - $20 dollar share price and they make mega-millions.

Or haven't you read the Sillerman playbook?

Pro

Sillerman's cancer has returned. He's not at the helm of VGGL, CEXE or SFXE. And he's still trying to borrow money in NYC from anyone he can offer a ride to his Hampton's home on his helicopter. He's now an infamous con.

The end is near.

Pro

Torino could be running the show. When he's not polishing his car collection he seems to keep to Vegas.

Torino, Sillerman and Kanavos all personally guaranteed the loan. Their over budget, late on construction and taking heat from Merlin.

The wheel may end up being a total bust. Kitchen is building a 600 foot tower a mile away that will directly compete. Even with the Merlin anchors no one is convinced the wheel will make the numbers.

My guess. Take private CEXE, bankrupt it, start a fresh.

Pro

Not that I would wish cancer on anyone. No one deserves that.

Its morbid, but may explain the lengthy delay. Also may explain why Sillerman is liquidating.

http://online.wsj.com/articles/entertainment-mogul-robert-f-x-sillerman-lists-six-homes-for-a-total-107-million-1410458692

Pro

Rumor has it, Sillerman's cancer has returned and his prognosis is not good. His loss would complicate a lawsuit attempt - which may be another reason this is dragging out.

Sillerman terminates - and all is blamed on him...

Pro

Blossom

Option 1

Drop assets, tickets sales and rent revenue from I-drive 360 into CEXE with $170m in debt.

Option 2


Drop assets, tickets sales and rent revenue from I-drive 360 into a clean sheet shell.

What do you think these masterminds are going to do?

Pro

Sillerman is on the cash hunt, liquidating his real estate assets to help fund the SFXE stock buy-back fiasco. Another turd being flushed down to penny land soon.

http://online.wsj.com/articles/entertainment-mogul-robert-f-x-sillerman-lists-six-homes-for-a-total-107-million-1410458692

We sit and wait...

Kanavos sleeps in the same bed as Chuck and Torino. Kanavos and Sillerman are college buddies.

Thick as thieves, these...

Wasn't there a VGGL reverse split recently?

SFXE will be the next to tank. Think I'll take a page from others and short anything Sillerman touches.

This message in lieu of anything newsworthy on CEXE.

Pro

Sure, my attorney can write a strongly worded letter. But it will cost $2,000 and do nothing. I've a decent sized firm that will take it on contingency. One of their own was a SEC lawyer for a spell and is no stranger to one Robert Sillerman. But, until they miss a filing date, bankrupt or try to execute the buyout, their is nothing they'll do. Otherwise, management would change course again.

All we can do is wait, then file a class action. And even then it could takes years to see results.

Pro

It's obvious that no shareholder concerns are part of the equation. We're simply adrift until they bankrupt, buyout or fail to file as required.

My bet, it will end up in court eventually. There is interests on contingency given the history of the company going back to FXRE days, and more importantly that Brett, Robert and Chuck have wealth, and to a lesser extent Kanavos and others as well.

They would be hard pressed to explain why CEXE could not secure finance with the project near completion as Sillerman and Chuck arrive in their G5 and Challenger 300.

IMO. As always.

Pro

Good banter as always. Thanks for sharing.

Our attorney has told us to not accept or sign any offer, and most certainly do not cash any offer check executed by CEXE or your trading house.

That being said, we must wait until they make a determination and submit. Right now, they've done everything in accordance to a poorly run company. If they try to siphon off and resell or retake the I-360 property public, then we have an opportunity to sue under a host of false pretense, misuse of funding and investor good will.

We just have to wait...

Pro

I'd say it's grandpa spending his social security check. $1000 bucks worth.

Apparently, someone doesn't read the 8-K's. WTF...

Pro

Any potential lawsuit would be investor led. But again, we have to wait and watch this one out for a little while longer.

Pro

This is all I've heard.

1) The lawyers we spoke with opine that its best to wait until they make the first move. The longer they wait, the more devastating to the investor, and the worse it looks.

2) Chuck and Unicorp are heavily entrenched and were planning to use I-Drive 360 (or whatever the name now) as one of the crowns jewels in a potential rollup and public offering. At least that was shopped around some houses in NYC.

3) Unicorp and Circle are fed up with the big steaming pile of "O" wheel that they purchased from Intamin for a bargain basement price of around $22million. They went ultra cheap, and they are getting ultra cheap. 8 months late already! Expect lawsuits shortly.

All in all, completely FUBAR...

PRO

Still here... Still here...