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Yep. It's a coin toss right now. We will know by the end of June though as to whether Mountains is a go or a smoke screen. It's too bad that Tom has not been forthcoming with any positive news about production. All we have are the results of his last three financial statements emblazoned with the words "Record Financial Results":
Nov ’15 (3rd quarter):
$48,933 in 3rd quarter revenue.
$14,708 net earnings
$2,795,860 Shareholder Equity
Mar ‘16 (Annual)
$98,792 (2 quarters of revenue)
$49,859 in 4th quarter revenue ($926 gain)
$2,730,447 Shareholder Equity ($65,413 loss from prev. quarter)
May ’16 (1st quarter)
$45,879 in 1st quarter revenue. ($3,980 loss from prev. quarter)
$6.968 net earnings (before taxes, interest, etc.)
$2,726,129 Shareholder Equity ($4,318 loss from prev. quarter)
Do you see “record financial results” or a declining valuation over three successive quarters? It's no wonder he did an RS.
Few would have sold after the RS if he would have given us updates on Mountains, New Broadway Cinema, and the VOD Search engine.
I now believe that his zero communication method was carefully orchestrated to do exactly what it has for his own purposes. So if Mountains is successful, anyone who buys in between where it is now and however far down it goes will make a nice profit if it goes back up to .05. Actually though, the value of the pps is right about where it should be at .005 after he added 10x more common shares to the issued after the RS. That means an initial value of .05 (that was based on an Issued of around 10 million) was 10x more than it should have been when he dumped another 100 million into the issued, and now we are seeing the inevitability of the pps plunge.
I am also looking to possibly re-enter on the MoM release but I will wait for that. If MoM doesn't materialize, I've only lost 50%. If it does I'll buy back in on the way up. But if I would have waited to sell until now where it's down to .0056, I would have lost 90%. I chose the lesser of two weevils.
That's right, you can shout out no convertible debt til the cows come home, but if you're the CEO (Tom) and you have 11,000 issued preferred that convert at 1 preferred share for each 2,500,000 common shares, convertible debt means nothing. It's all about convertible shares period. I've never been involved in this kind of a shareholder rape before but I learned a few things here.
Same here.
That's right, you can shout out no convertible debt til the cows come home, but if you're the CEO (Tom) and you have 11,000 issued preferred that convert at 1 preferred share for each 2,500,000 common shares, convertible debt means nothing. It's all about convertible shares period. I've never been involved in this kind of a shareholder rape before but I learned a few things here.
Another ugly indicator is the RS every five years.
It's not the RS in and of itself that killed us all. It's the fact that after Tom RS'd, he bumped the Issued from 7 million up to 111 million and the Authorized went from what should have been 10 million to 200 million. ;(
Why would they tweet today's and not the May 10 article? Is it because Tom actually spent the $15,000 to pump the stock? Doesn't seem like his style but who knows. BTW, are you able to figure out why the financials aren't showing any production costs for MoM? Originally it was budgeted at over $2 million. Even with a less costly, lower budget production version it still seems like it would cost in the neighborhood of at least $250k. But I can't seem to find any major production costs on any of the previous financials.
BTW, even though Tom converted some Preferred shares into those 80 million common shares, who knows how many are still left. There were 11,486 Series B preferred stock that could be converted to common at an exchange of 1 preferred for 2.5 million common. So Tom would have only had to convert 32 of those Series B preferred shares to get 80 million common out of the deal. If he converted Series B, he still has 20 million Series C valued at $4 million that he could convert at .20.
This company has become more bloated with stock since we bought in, not less. His PR about decreasing authorized shares was a total smoke and mirrors because after the RS, surprise, we suddenly have 200 million authorized. Before the RS we had about 5 billion. The RS doesn't affect the authorized, however, a 1:500 RS would have meant an equivalent of 10 million authorized after the RS. We now have 20 times that. 200 million.
INMG is turning into a stock creating venture that ONLY benefits Tom.
Make sure you look at the last 3 quarterly reports. Take a look at the stockholder equity and notice the trend. Is it down or up?
All of us longs were drawn in by the stable financials. But then the stock, even with three quarters of financials showing a positive cash flow, refused to climb above .0002 for three whole quarters with the exception of a pump (just like today's) last year that lasted for a day.
The thing that is making me voice concerns, which are probably just falling on deaf ears, is the lack of any indication other than a 45 second trailer that there actually is an MoM. A new website was supposed to be created for MoM. The trailer was supposed to be released on the twitter site. Yet all we hear from Tom are crickets. I used to promote this company because of what Tom had said he was going to do with it. He also said he would not RS, and yet he did. So I've gone from positive to guarded. If MoM is released in June, I'll go back to positive. So I think it's important to not only look at financials, but also at what the company is doing. I'm concerned about what it's not doing. So far it's acted like a typical OTC penny stock complete with RS, falling stock price and all...
Because there's still a chance that MoM will materialize. I don't believe Tom is behind today's P&D, and it won't make a difference in the price of this stock at the end of the week, other than giving INMG a bad rep so fewer invest. I'm just airing out my frustration with Tom and his lack of promotion of the MoM production. Maybe he'll start June 1st with trailers but I doubt it. I'm obligated to stay until the end of June. If MoM is released, I'll stay because that will be the first indication in 9 months that something positive is happening here that will promote stock growth.
The only problem with that $.049 at the EOD is that for this to go close to five cents and hold there to the EOD would have had to have been information on the Mountains of Madness or one of it's other productions. The financial news that was released before the open today is the same news that's been released for the past three quarters, ever since the name changed from GBGM to INMG.
If it opens tomorrow at anything higher than .015, I will be surprised. I have a fair amount invested in this based on what were good indicators. That bad indicator that just dropped our shareholder value was the RS and conversion of his preferred stock into 80 million common with another 12 million issued for his "compensation."
We had around 3.5 billion common shares issued before the RS. Remember that? Tom pulled the 1:500 RS and ended up with about 7.1 million issued at a value of .05. But then what happened? We went from 7.1 million issued to 111 million in the blink of an eye from Tom's action in the previous paragraph. So the real value of our common stock (since the company assets have not changed) is not the new .05 but rather 10 times less. The true stock value price is around .005.
"Down she goes...shak'n, tenderiz'n... I'll never put on a life jacket again."
"INMG, as you know, means friendship.”
Or close to it. For any that have been here since last July or for a while, that "record financial" statement means absolutely nothing. Looking at the chart today when the financial condition of the company has not changed from the previous two quarters makes me laugh hysterically. What's even worse though is that there is no news on the big production that supposedly is being released toward the end of June. So how can you have a jump of 200% in the stock price without any of these other indicators changing? Easy. Pump and dump. Maybe not by Tom but you'll notice that the guys that put out the stock alert on INMG had this disclaimer at the end of it:
"Pursuant to an agreement between us and Microcap Innovations, we were hired for a period beginning on 5/23/16 and ending on 5/24/16 to publicly disseminate information about (INMG) including on the Website and other media including Facebook and Twitter. We are being paid $15,000 (CASH)..."
Pure pump by either Tom or someone else looking to make a quick buck. There's ZERO growth until Mountains of Madness or some other NEW production is released into the market. And you'll notice too that there has been no marketing of MoM.
Here's a question: Why have there been no production costs associated with MoM in the financials? If MoM is supposed to be a moneymaker for INMG where is the cost to produce it? Does it even exist other than a 45 second clip?
This is practically useless information. Unless the reports give information on acquisitions, new production activity, or new licensing contracts for any film assets, it's comparing apples (INMG) with oranges (GBGM). If the revenue generation continues to stay the same at around $45k per quarter, expenses continue to eat up 90% of the revenue, and stockholder equity continues to decline as it has been for the last 3 quarters, eventually Tom's comparison of the current quarter with the previous year's quarter will show a decline, not record revenue. This will occur at the 3rd quarter financials this year if nothing changes. He ought to be talking about Mountains of Madness. The lack of any further information or communication regarding what he is supposedly putting all the eggs in his basket in is becoming a red flag concerning. The price pop today was a total manipulation of the pps.
A lot of us are holding until it gets to .05 just to break even.
I'm holding til I see the results of MoM. I think if everyone just hangs in there til the release and doesn't bail out between now and then (however, ya gotta do what's best for you), the pps will start slowly going back up starting this week. Can't say for sure but I think Tom will try a few things to get it back up. I sure can't figure him out though. He's not pumping PR's other than that last one about 'uplisting'. No twitter or facebook. Doesn't make sense not to promote the company. Especially with the pps sliding like it is.
Well, the 500k bid at .035 is gone now.
Yeah, I thought he had something good going. And maybe he does but you can't tell because his mouth is locked up tighter than a abalone on a granite rock.
You hit the nail on the head Arlen. I can't figure him out either. It is obvious he has no regard for his shareholders whatsoever. I thought last year that he was all business and once he got settled in and Mountains was being produced that he would start communicating with us. What a joke that was!
I'm waiting to see if he will try to ease the pps back up by bidding and asking small amounts at progressively higher values like he did right after the RS. That's pure manipulation and one sign of a potential scammer.
Streamtrack (STTK) is an entertainment shell corporation that has $4 million in debt and has been on a downward spiral for some time. When the GBGM aquisition went through, Tom Coleman received $120,000 in Streamtrack stock and acquired Lux Digital Pictures, Inc.
Aaron Gravitz is the Chief Executive Officer and was the Director of Lux Digital Pictures Inc. which is now owned by INMGD's Tom Coleman. Gravitz has been in trouble with the FTC and the SEC for his illegal activities. Here's some history on Gravitz and others he was involved with and how some shell companies and aquisitions work:
Commerce Planet (Aaron Gravitz) busted by SEC.
https://cdn.ca9.uscourts.gov/datastore/opinions/2016/03/03/12-57064.pdf
After Commerce Planet is busted they sell most of their assets to Superfly
http://www.businesswire.com/news/home/20080918005277/en/Commerce-Planet-Announces-Agreement-Sell-Consumer-Loyalty#.VKv7sCx0ypo
Superfly sells the assets just purchased to Lenco Mobile 2 months later
http://www.businesswire.com/news/home/20090211006291/en/Sovereign-Wealth-Corp.-announces-change-Lenco-Mobile#.VKxnYCx0ypo
Lenco mobile sells Radioloyalty to Mr. Hill and Mr. Gravitz as Radioloyalty merges with Streamtrack.
James Crane from commerce planet shows up with STTK as investor relations:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=81870430
Who is James Crane? A fraudster specialist in fake Chinese companies that was busted by the SEC.
So the problem I'm starting to have after doing research is this: Why would a legitimate businessman (Tom Coleman) have anything to do with these people who are under indictment and investigation by the Securities and Exchange Commission and the Federal Trade Commission? How do they know each other?
It's possible that Tom is legitimate. He has a legitimate history as a Producer with Atlantic Entertainment Group. They made real motion pictures but he made some poor financial decisions and ended up ceasing operations. The Lux Digital Pictures assets are real but rather limited as we can see from INMGD's finacials. It appears that he's trying to make a go at the entertainment market but this reverse merger well before the release of Mountains of Madness while the company stock was basically stagnant was just a way for him to convert his preferred stock into common stock and grab a salary at the expense of all of us shareholders. You don't pursue an uplisting until you've got a history of a stable stock above a penny so that part of the PR was a pure pump. I fully expected the RM to occur once we hit .001 but he never allowed that. Why not? His last two financial reports employed a trick that companies who do mergers and aquistions use to make themselves look more attractive than they really are. Each finacial report compared itself with the previous year's report which is obviously going to show a massive improvement. But if you were to compare each quarterly with the previous quarterly you see a different story. No growth.
Anybody can make a 45 second trailer for an animated movie. If Mountains of Madness comes out as the web series that Tom has claimed it would and it comes out on schedule in June, then some of my misgivings will be allayed. But if you see a PR that comes out that says MoM is being delayed, that's a red flag and time to head for the exits.
Part of my problem with Mountains is that I haven't seen any real production costs for it on any of the financials. Why not? The original budget for the movie was around $2 million. That may be an indicator that there is no Mountains of Madness. I'm not saying that it has not been produced. I'm saying it's an indicator.
Where's the revamped website? It's been months and nothing. Where's the release of the trailer that was supposed to happen?
If this isn't a scam then I can see why Tom folded Atlantic Entertainment Group. It seems like he's doing everything bass ackwards.
I'd love to be a fly on the wall in Tom's office. He's got supposedly $120,000 in Streamtrack stock that I doubt he'll ever collect on, because that company has gone no bid at .0001.
We have 4 to 6 weeks until the release of MoM. Seems like an eternity.
I totally hear you Rock. If MoM works out, INMG will probably be a slow climber. I'm hoping that if MoM takes us past .05 that we don't just sit on MoM's revenue for 6 to 9 months like the others (Gameplay, etc.) before one of the other projects hits the market and have the pps go dormant.
This is why the company has been stagnant on the pps.
Nov 2015 statement (Q3) - revenue: $48,933. Stockholder Equity: $2,795,860
Mar 2016 statement (Q4) - revenue: $49,859. Stockholder Equity: $2,730,447
May 2016 statement (Q1) - revenue: $45,879. Stockholder Equity: $2,726,129
There has been no growth and our stockholder equity has gone down. Every quarter, the value of the film assets is reduced. However, this is to be expected as the only new source of revenue since the acquisition in July, 2015 will not materialize until Mountains of Madness is released.
The real issue was the result of the stock split. Before splitting, we had about 5 Billion Authorized and 3.5 Billion Issued. It was a 1:500 RS. That worked out to 7,111,582 issued, but not really. Because if you look at the OTC Markets company profile, we actually have 111,224,650 Issued, not 7,111,582. The 7,111,582 is the float (what we own). So he converted those Preferred Shares into 80 million common restricted and took as a salary compensation 12,000,000 more common shares. That bumped the issued from 7 Million to the current 111 Million shares. But the Authorized was only reduced by 1:20 down to 250,000,000. So the equivalent pre split Authorized would be 250 million times 500 or roughly 125 Billion. Tom has done us no favors.
If you had 50 Million shares before the split, you owned 1.4% of the Issued. After the split those 50 Million became 100,000. With an Issued of 111 Million, you now own 0.09%. That's 6% of what you used to own. If Mountains of Madness were not released (and that's the only thing holding this stock price up), the stock pps would reduce to .003 from .05 in a flash.
And we have heard nothing regarding The VOD search engine nor the New Broadway Cinema projects. It's as if Tom purposely wants this stock to tank while putting out quarterly financials that merely compare themselves with last year's numbers which are irrelevant because they were GBGM's.
It's getting harder and harder to be optimistic about Innovativ Media Group. Mountains of Madness better be good. Even if it is and were to bring in several million dollars in profit, our pps only stands to rise negligibly as a result. The current Market Value of INMGD is $2.78 Million and we're at .025. If it went to $5 million, we'd only go up to .04.
Sorry guys but the numbers don't lie and the reverse split is the reason. when Tom originally said INMG should be a .05 company, maybe that's all it will ever be.
Somebody was able to sell 1000 shares at .0122 ($12.20). Does that sound like a fraud on Tom's part. The next trade was a buy for 10,000 at .0315 ($315). That's it with the exception of anything that has happened in the last 15 minutes.
It was stated in one of the previous financials. It said he had 20 million preferred valued at 4 million dollars. That's a par value of .20 each. He can only sell them at the current pps, so he could take a loss at less than .20, but I don't think he will. That's his nest egg.
I think if he's holding it in the .04 range like you say so that the peeps don't sell, it's until MoM is released in June so that the share price can go up from .05 rather than up from .01. He still needs it to go to .20 for his preferred share conversion. Tom's probably told any potential larger investors that it's stablizing at .04-.05 to attract them.
Yes. I've double my shares. I bought at .025
Yes. It's quiet...too quiet...
Excellent!
I agree with the buying. I believe the company was supposed to have produced the first 3 of the MoM web series already for release in June however they have not stated how many or if all three make up the complete story. It could be only one episode of the series is released in June. A little more clarification will probably occur on the new website, whenever that is completed.
The projected budget for MoM was 2.5 million dollars - see previous post. If the work is mostly finished or completely finished then that should be a big revenue producer once it's released and marketed in 2 months.
That should be huge for the pps.
Remember what were waiting for the release of in June...
This is from a website dedicated to raising capital in 2014 to start the Mountains of Madness movie project (current website under construction):
In 1930, a team of researchers traveled to the southern end of the world in an attempt to discover the unknown history of our planet. They found a series of gigantic, alien-looking fossils resting in an ancient cavern. The scientists believed they discovered an unknown species of prehistoric animal. Soon, however, they realized that those creatures were far from extinct and more dangerous than any primeval predator.
When the scientists failed to return, a search party was dispatched. The rescuers pursued a trail deep into the Antarctic tundra where they discovered a titanic mountain range that hid a sophisticated pre-human civilization. In the deepest recesses of the city, they learned the shocking fate of their friends and worse: the horrifying truth about the origins of mankind.
Hunted by supernatural creatures of infinite evil and sinister intelligence the men struggled to escape the bounds of “The Mountains of Madness”.
“Mountains of Madness” (MoM) is a classically-animated film that adapts the story "At the Mountains of Madness." The original novella was written by the Grandfather of Cosmic Horror--H. P. Lovecraft--who has been cited as an inspiration to such creators as Guillermo del Toro, John Carpenter, Mike Mignola, and many more. Author Stephen King called Lovecraft "the twentieth century's greatest practitioner of the classic horror tale." This novella is considered one of Lovecraft's greatest and most cherished works, but it has never before been realized cinematically.
"Mountains of Madness" is a feature length adventure-horror film based on the novella. The use of classical animation allows the grand concepts, gruesome violence and colossal set pieces of this epic story to be realized by a relatively small team of artists. Modern advances in the technology of digitally assisted animation allows this independently-minded film to be produced for a modest budget.
Our Kickstarter is not intended to provide the entire budget for our film. Yes, we are colossal fans of the story and all of Lovecraft's stories, but we are also professionals in motion picture production. As such, we are approaching this film from a professional business perspective.
The final budget for "Mountains of Madness" will clock in around 2.5 Million. Kickstarter will allow us to complete our pre-production on the film without having to bring in initial outside investors. We have four main objectives we intend to meet with our Kickstarter funds.
Complete the Script.
Hire and record well known voice actors for the main characters.
Create the initial storyboards
Combine the recorded audio and storyboards to create an "Animatic" of the entire film
Stephen Sloan
Director & Instigator, veteran animator from the broadcast and web animation industries. As a fan of horror, H.P. Lovecraft, and the art of animation. he is approaching this film as fanatical devotee, but is also bringing his experience garnered through producing hundreds of hours of animation delivering quality animation on deadlines tighter than any noose while riding razor-thin budgets for clients such as Disney XD, Comedy Central, Nick Jr. and DHX Media. On productions including "Motor City", "Ugly Americans", "Moonbeam City" and Hulu's original series "The Awesomes".
Ingo Jucht
Executive Producer, has been a principal with Lux Digital Pictures since 2004. He has executive produced, financed and/or co-financed several commercial films including the ‘Night of the Living Dead 3D’ series with Lions Gate and the well regarded feature documentaries “Nightmares in Red, White and Blue”, “American Grindhouse”, “Films of Fury”, “Money For Nothing” and the soon to be released “Gameplay”.
Tom Coleman
Producer, is an entertainment industry veteran who was the sole founder of the Atlantic Entertainment Group. He has produced or executive produced over 40 films including the teen classics “Valley Girl” and “Teen Wolf” and others such as “Extremities”, “1969” and “Stormy Monday”.
Peter Colley
Writer, is an award-winning playwright and screenwriter. His stage plays and musicals have been produced in 29 countries and in 48 states and his screenplays have been produced and broadcast on many of the major US and Canadian TV Networks.
Deirdre Bowen
Casting Director, is one of the most sought after casting directors in North America. Her many films include “A Dangerous Method”, “Eastern Promises” and “A History of Violence” for David Cronenberg and the “Resident Evil” films.
Aaron Vanek
recipient of the 2003 Howie Lifetime Achievement award for contributions to Lovecraft cinema and the director of the H.P. Lovecraft Film Festival Los Angeles (www.hplfilmfestival.com), is serving as a consultant on the project.
Michael Lane
Editor, chews film for breakfast and was raised by wolves in the unforgiving shopping malls of Northern Ontario. His narrative collage film "Cent une tueries de zombies" (a.k.a. 101 Zombie Kills) has played to acclaim at arts events in Toronto and Melbourne, and his credits as an editor include the feature-length video documentaries for "Fifth Estate", "Cosmopolis", "The Social Network" and "Land of the Lost", as well as a segment in the upcoming "ABCs of Death 2" Mushrooms are his most disliked foodstuff.
I saw a whole lot of selling today. And it stayed at .045 thru 200k of straight sells. Every 10-20k in sells should have dropped the pps at least .005 each time. Yet nothing. Rock solid at .045 the whole time. Was Tom buying? Or selling to himself and buying back? Or was someone else buying?
I noticed a lot of "pos" comments today about Tom. I'm assuming that was what it was about.
We'll see come this next week whether your fears are real or superstitious....
I'll wait and see. If he's artificially trying to bring up the pps kudos to him. At least he's trying something. If it doesn't work, we'll find out soon enough.
I'd rather see the price go up than down and if he needs it at .05 or above to attract larger investors, what's the harm?
I'll wait and see. If he's artificially trying to bring up the pps kudos to him. At least he's trying something. If it doesn't work, we'll find out soon enough.
I'd rather see the price go up than down and if he needs it at .05 or above to attract larger investors, what's the harm?
I'm not sure why he chose to RS before giving us a chance to run on the MoM release. I suspect he didn't want to take any chances with the volitilty of being in the subpenny range during the release. I don't believe we'll see much movement in the pps either way until the MoM comes out in June. The 10-Q may be an interesting read if Tom chooses to put any real info in it on potential revenue (which I doubt since he hasn't done that yet) but we won't see anything solid until we see the results of the MoM release.
After that maybe Tom will come out with an update on New Broadway Cinema and the VOD Search Engine, but I suspect it would be a while. He's not a regular communicator.
I don't expect any driving force behind the pps until the following 2nd quarter 10-Q is released. At that point everyone will be able to see the actual numbers on MoM.
Maybe next week. We're waiting on two things. The 10-Q (5/15) and the release of MoM (late June).
It is good to see the pps average on a steady climb back up to .05. Look at your 5 day chart for INMG.
Well look at that. You're absolutely right. Still all in all a nice day.
45k Buys and 34K in sells with the average around .03.
Movin up! Although slowly.
No one is concerned or felt it necessary to buy back up and I only saw one trade @.025. What were the other ones?
Someone sold 400 at .025 to drop out the EOD. What a paint job.
BTW, 400 @ .025 = $10!
Oh well. Should have figured someone would play with the EOD...
Won't matter.