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LMAO!! 4 years of waiting and litigation and he settles for less than $2M?! What a joke - so glad I dumped this POS when I had the chance. What a terrible CEO.
Wait - you mean some anonymous person posted something that wasn't true online? I'm shocked.
The reason the price is not going up is very simple: the company has not yet shown in their filings that they are bringing in any money. Once we get a couple of 10-Qs under our belt that shows people are paying to use the site and corporations are paying for sponsorships, then you'll see the price move.
All the news about advisory boards and partnerships is great and will be beneficial in the long-term. But it doesn't do anything for the PPS right now because to date all we've had is free tournaments and haven't yet seen the revenue numbers.
I believe the next Q is due out on 8/15 so it'll probably continue to trade this way at least until then.
Amen to that. I agree with all your points. I think management just needs a reminder that they are a public company and their job is to make money for the public i.e. the shareholders. If you want to cancel your lone revenue-producing activity so you can leave early on Friday, then go private.
I would take a look at post #33485. The Hearthstone tournament that was supposed to take place the weekend of Father's Day was cancelled because of Father's Day and the E3 convention.
I don't know anything about that. All I know is that makes 2 cancellations in two weeks. One can be an accident, 2 starts to be a trend.
Exactly - cross-training is the key. I remember a year or two ago when a filing was delayed because somebody's wife or kid was sick. I figured that would have been a learning experience that you can't have just one person doing one job. If management doesn't learn to teach multiple people how to perform each important function, neither company is going to succeed.
Very disappointed in management for not understanding that after all this time - I thought they knew better. People are going to get turned off fast after all these cancellations.
What an f-ing disaster of a weekend. It appears the site designed for amateurs is indeed run by a bunch of amateurs.
Oh my god - are you serious? How hard is it to look at the calendar before you schedule a tournament? Nothing like having to reschedule the first real tournament - SMDH.
Did it say what the new date is?
Both are taken, actually. GGGG is a gold company and GAME belongs to Shanda Games Ltd.
Is BANKRUPSY like BANKRUPTCY? It's been a while since the clown car has come to town - welcome!!
Well done Pic!
Someone must be watching this board - they changed the spelling. Now I feel better!
Right, "amateur" is correct but "amatuer," which is what's on the Facebook ad, is not. It's small details like that that they need to clean up in order to make a good first impression.
Looks like Good Gaming needs to hire a spell checker while they're at it. #Amateur
Segment on e-sports right now on CNBC
I'm not a lawyer and it's been a while since I've been in audit, but I believe that if the SEC is only asking questions or inquiring about a matter, you don't have to disclose it. However, if there is some kind of actual pending litigation or punishment pending, that would probably have to be disclosed. I don't any of that is applicable to HDSI or CMGO though.
Yes - the 10k would include the going concern statement. But I wouldn't think that would hold up the report as it is pretty common language for companies like this just starting out. So I wouldn't think thiat is something they would be haggling over. There might be other audit differences or a discussion on internal controls that would be more likely to hold things up. Just my opinion, I'm not privy to any of the discussions.
Just a random review of the latest beta test I ran across on Twitter.
@eSportsNvestor the new platform ran super nice! I'm excited to play in more events!
That's the market, dude. Look at Home Depot today - beat estimates by a wide margin and upped its guidance yet it was one of the biggest losers today. It's just how it goes some days - it doesn't mean anything.
Unless of course you got in at 2 and have tripled your investment to this point. That's a pretty good return I'd say, if you're into that sort of thing.
Can you give me the ticker for that one stock that ends up green every single day? I forgot what that was.
Thanks in advance.
Right now all my money is locked up in CMGO and HDSI. I'm trying to decide whether to sell some CMGO and increase my position in HDSI or just stand pat as it is. I'm thinking I'll probably stay where I'm at for now unless something drastically changes with the price of HDSI.
10-Qs are out.
Here's the link - https://www.good-gaming.com/
I'll let you look up the phone number.
People that play eSports are dedicated for sure.
http://brobible.com/life/article/gamer-brings-bucket-toilet-paper-cafe/
I think GDGM would make a good ticker symbol.
I have no idea. I just remember she had some connection with GG when CMGO acquired them.
She used to be an owner of Good Gaming prior to it being rolled into CMGO.
I'm starting to think that Glenn is trying to sue these companies into prosperity. He's doing it on CMGO and now at HDSI. I suppose if there are legitimate claims then it's the right thing to do. But it seems like a last-gasp effort to me.
I'm not even sure why he got Good Gaming involved with the mess that is HDSI? If he wanted a clean start, why would you get involved in all this nonsense with a company that has billions of outstanding shares and nothing else to offer? Why not just start off with a clean slate and create a new ticker symbol? I've never understood the benefits of this acquisition/spin out, whatever you want to call it.
This should get you started.
https://www.good-gaming.com/
This is interesting. On the NY State Supreme Court web site, it shows the case status as "Disposed." From doing a quick Google search, it looks like that is another word for closed. The Notice of Intent was due to be filed on 9/30 and there is no mention of that. So I wonder what the deal is. Did we settle? Did we drop the case? Hopefully we get word soon.
http://iapps.courts.state.ny.us/iscroll/CaseDetails.jsp?IndexNo=652894-2014
Why did you think there was going to be news? Because some random person who doesn't know anything about the stock posted it on Twitter? Good rule of thumb around here: news releases are very few and far between so if somebody tells you news is coming, just ignore it.
Anyone know if Glenn is planning to file an NT 10-Q or get the actual 10-Q filed in the next couple of days? The due date was 8/17 - I expected it to be delayed but I would have thought the NT 10-Q would have been filed by now.
I think it would be 20,000 preferred shares (1,000,000 / 50 = 20,000), not 50,000.
Thanks for clearing that up - so I guess it sounds like the share reduction could happen at any point now.
My personal thought is that it is still a risky move to convert shares before the court case is won. Even though I think CMGO has about as open and shut a case as one can have, there's still a chance something could go awry. And if you convert your shares prior to knowing if there are going to be winnings there, you've essentially just done a 1:50 split of your shares volunatarily. Again, there may be additional benefits to doing this conversion but that sounds a little too risky to me without knowing the verdict in the case first.
I suppose that's true, they could probably go ahead and create the new class of shares. I guess I was thinking about the liquidation part of it where they are giving back a portion of the winnings to those holding the new shares - that part would be dependent on winning the lawsuit. So I guess it would be up to them whether they would want to do this in two steps or just all at once (I assume they would want to do it all at once because who would want to convert their shares if they were not sure they were going to be getting the liquidation of the winnings?). Not me anyway.
My understanding from reading the PR is that the share reduction would not be effective until if/when CMGO is awarded money from the lawsuit. Without that, there would not be the money to fund the share reduction. So I don't think it will come before the decision comes on the lawsuit.
I have some questions on these new preferred shares - I'd be curious to get anyone else's input on a couple questions.
1. In reading the PR, it sounds as though the conversion from common to preferred would be voluntary because it says "If fully subscribed..." which I take to mean if everyone does it. Is that everyone else's impression as well?
2. If it is voluntary, I'm trying to find the benefit in doing that and here's why. Assume CMGO is victorious in the litigation and end up with $10-20M in cash so they have the money to fund this conversion. If I own 1 million shares and decide to convert, those 1 million shares become 20,000 shares. It sounds like I will then get paid $20,000 out of the winnings. And if we assume we win and conservatively speaking, the share price goes to $0.02, let's say, my shares are worth $400. So at that point, I'm sitting with $20,400. If I don't convert and I just keep my 1 million shares, with a price of $0.02, I'm at $20,000. And then in future months and years, assuming XA becomes profitable and Good Gaming takes off, maybe shares are worth $0.05. I then would have $21,000 if I converted vs. $50,000 if I don't.
I know there are a lot of assumptions in this case, but I'm trying to think ahead if the company wins the lawsuit and is able to get XA/GG profitable again - I don't see how it would be in my interest to convert unless I'm missing something.
An extension for what?