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Xan...LOL the weather this winter/spring has been crazy in Texas.
First snow and freezing rain for the Superbowl and now crazy tornadoes. I'm guessing you at least have a basement to hide out in, last night we where standing in our inside hallway (safest spot as it is dead center between all rooms) at our house. Not exactly as comforting as when I lived in Kansas and could grab the scotch and hide out in the basement.
Totally agree Wick, if JF was honest he probably could have made more than scamming like he did.
Oh well. Good lesson learned for me on this one. My portfolio took a hit but nothing I didn't get back from better investing going forward.
Wick,
Still here?
JF is not in jail yet?
To think what Netflix has done as a stock. I was messing around with GZFX when Netflix was around $20.
Hey I like to hear about you Stock Tip.
Have not been here for a while...ever since the GZFX crash
very scary indeed
I understand the dumpage, but who is buying?
Xan,
How do we do that?
Accounting is accounting. Filings go to the SEC. The SEC only accepts accounting that follow the same accounting principles. There are not different levels of accounting depending on where your stock is listed.
And then go negative and you could have to pay in more
Yes it can go lower
That is funny I just saw your 3 x 5 post before the opening bell.
Thanks for posting LII, it is helpful for us working stiffs who don't have realtime.
Green?? What is that.
They were run by a different company who specializes in marketing research. They were not moroch, but I believe Moroch hired them as marketing research is all they do. It was very professionally run. They had the room miked and had a glass wall with people watching.
One of my recommendations was for GZFX to label their discs: UMD, DVD, HD-DVD, Blu-ray. I said you could not tell unless you looked at the little picture and with so many not having a picture you could not tell at all. I received an UMD, because I could not tell it was and I wanted a DVD. This is something that changed recently on the website.
I attended in Dallas a while back. There were 4 different groups of 8-10 people that met in dallas. I assume these went on in several cities.
The SEC starts reviewing financials after they are filed. The review process is similar to the IRS audit process. A few high risk clients are selected for full review others are reviewed quickly. The SEC will not spend much time on the OTC unless there is gross negligence. The review of 10-Ks takes at least three months as I would not hear comments back from the SEC until July or August. The SEC will contact the auditors and the company and have them respond to comments regarding disclosure or handling of accounting policies. If the companies response makes sense the SEC might not pursue. This process can last a year if the company has good auditors and lawyers protecting the accounting transactions.
Therefore, if they do review the 10-K it will not be until July (at the earliest)before we hear something. We could here something sooner if someone rats to the SEC regarding business practices and fair disclosure.
Totally agree wick!
Having audited before, and knowing what I know about GZFX, there is no way I would give an opinion on that 10-K. There were several large transactions not discussed and that is not right.
Wick do you still think we are going lower?
I'm not sure he can get away with it. He pr'd it saying GZFX was investing the money. The money was made off selling shares. I have a feeling some lawyers might get some work off of this.
And very illegal. I think it will be interesting to see what unfolds with LITV.
Something is rotten in denmark or should I say england
We invested $2M with the option of investing $10-25M
I'm assuming you are pointing out the $2M spent on DVDs and film content. Okay, but we are still missing $1M and also still no mention of the previous investment in LITV.
Hey I would like to be wrong and say GZFX will benefit from the investment in LITV. The 10K discusses significant events and I would think investing $5M in a foreign company would be significant.
My mistake the PR was in 2006, but that does not take away the fact that the money is gone and the investment is not mentioned.
PR from July 2006:
GameZnFlix, Inc. Announces Investment in London International Television Ltd to Create "The Business Channel"
GameZnFlix (OTCBB: GZFX) and London International Television Ltd today announced an investment by GameZnFlix in LITV for the purpose of creating the "The Business Channel" to be broadcast on digital satellite later in 2006. GameZnFlix intends to purchase a 25% interest in LITV with the payment of $2,000,000 over the next year. In addition, GameZnFlix may invest up to an additional $10,000,000 to $25,000,000 within 12 months.
"We're excited about our investment in LITV and the opportunity to extend our company into the United Kingdom. Our relationship with LITV over the past few years has allowed both companies the chance to know and understand each other. This is another step in our business model of providing movies and games to our members through our core business model (postal delivery), but additionally of moving towards on-demand and other media," notes John Fleming, GameZnFlix CEO.
The two companies intend to produce a new channel to be aired in the United Kingdom. Focusing on the needs of British business owners and entrepreneurs to be better informed about the business of doing business, The Business Channel will be the leading component of a venture into this media space that the two companies believe is poorly served by mainstream and financial broadcast channels.
"Having had an interest in the growth and development of GameZnFlix during the last three years, I am delighted now that this new relationship continues to grow. The agreement with GameZnFlix will provide LITV with the opportunity to expand and direct its operations into a new arena, providing its present and future clients worldwide, a new route to the UK B2B and B2C markets, including a new dedicated broadcast and IPTV channel combined with other web-based commercial features," adds LITV's Martin Everard.
About London International Television Ltd
London International Television Limited (LITV) provides corporations with the opportunity to harness the power of television in a secure and controlled way, specializing in the production of documentary style corporate profiles into B2B and consumer markets in Europe, the Middle East, South East Asia, Pacific rim countries and North and South America.
About GameZnFlix
GameZnFlix is a company that offers video games/DVD movies for rental or purchase on the Internet with access to over 40,000 game and movie titles. With different membership levels beginning at $8.99 a month, subscribers can rent a combination of both video games and/or DVD movies with no late fees or due dates or members can purchase video games, DVD movie titles, books and audio books at a membership discount.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. GameZnFlix cautions that these forward-looking statements are further qualified by other factors including, but not limited to those set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov/). The company undertakes no obligation to publicly
I agree if that is the case. I like to hear Wicks take, but Wick has been saying LITV is not part of GZFX.
The only proof I have is the 10K. The 10Q for 3Q2006 showed a CD for $3M. The money is gone and not shown in the cash flow as spent. Also, in early 2007 we made an investment in LITV. There was a PR on it. Now we don't even mention our $3M investment. Something is fishy.
I think at one time LITV was going to be part of GZFX, but the 10K has no mention of it and the money is gone. Therefore, LITV is JFs baby only.
Basically he used the money generated from selling shares to invest in another company.
Wick,
Where did the $3M cd go?
It is not even mentioned and not shown in the cash flow.
Very shady, but I think you are right it went to europe and is not part of GZFX.
wait wait you forgot green close
what about scotch time?
By they way, wha happened to the magic bus?
I did not see it on ebay. I'm sure JF is just using it for his pleasure now.
Bry,
Why be reasonable? I was just trying to figure out what I will do with my millions....LOL.
This stock is better than the lottery.
Did you mean ask?
What was the volume today? I see 67M on yahoo, but 62M on Ihub.
I almost brought up the O/S...just kidding.
Also, GZFX should offer many different plans. Just games, just movies, movies and games. Many price levels. Most of these people have tried NFLX and BBI and we will never beat them on customer service. But we do have an advantage with games...but we need to delivery them.
Agreed...but at a cost of losing customers? The one thing they could have done from the beginning is build a better website. That was the number 2 compliant behind delivery times. Almost all on IHUB had great ideas they should incorporate before they released the second version of the website and none were made. The search function is horrible, the pictures are not updated, the different media (HD, blu-ray, UMD) are not defined except in the small picture, and the queue design is not good. Also, the gaming inventory is a big problem. One guy said the name of the company is GAMEZnFlix, they are targeting gamers, yet my game is sitting in my queue for two or more weeks before shipping. If 12 customers sitting in a room can come up with a much better design, how could GZFX not due it with the millions they paid consultants.
One guy had a great idea of a personalizable webpage. Therefore combining something like a myspace page and the rentals. He said it should be more then just a place to go to rent movies it should be a destination site (include reviews, updates on what is coming out, weather, news...etc).
Another idea was a premium account were you will get your games but get charged more. Some are going back to gamefly which is $8 more a month because they get the games. Also some brought going to intelliflix...cringe.