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I was a little disappointed with the 100 million O/S at first. If you do a straight share for share comparison from the previous share structure of approximately 3.4 billion float (at 1:500 RS it's currently 7 million), the current O/S of 101 million equates to what would have been 50 billion at a 1:500 RS, so basically Tom has increased the O/S by 90%.
The question is, is this a big problem for us as common shareholders?
I don't think so and here's why. INMG is going to need millions of dollars infused for the production of of it's current and future internet based entertainment features. That's not going to come from us as investors that make up the float. With the current pps at .03 and rising, even if it were .05 right now (and by the way it is going up), that only amounts to a value of around $350,000. That would barely pay for one commercial, let alone a web series or multiple series. The new cameras needed for INMG's New Broadway Cinema alone would eat significantly into those available funds. Even animation, although very profitable from a cost of production standpoint, can still cost a fair amount to produce. Especially hand drawn animation as opposed to CGI which software can now run on a $2,000 computer. So Tom needs heavy investors and with the added 90 million to the O/S, he appears to have already secured at least some investors with payment in part by common shares. He's still got his 20 million preferred that he wants to convert to common restricted so he already has majority ownership and he probably has a good percentage of those additional issued common shares.
If you look at what the share price has been doing; at first a selloff of sorts and then the upward trend it is now on, it makes sense that the stock price is now being controlled much better than it was before the RS. Yes, at .03 it's only 60% of what it started at but those extra 90 million common shares are not being dumped into the Bid causing a crash.
They are slowly being issued at a progressively higher Ask. Any small timer can sell a few shares way below the market, like what happened yesterday to try to bring down the pps. But those are short lived and the Ask never plummeted out of panic. No, what you have now are strong hands holding the lions share of the O/S and they're holding.
This wouldn't have been possible with the previous share structure.
So like I said, the 90% increase in the O/S appeared to be a problem at first, but it only appeared that way. It's like when the President (played by Morgan Freeman) in the movie Deep Impact is negotiating with the main character Jenny Lerner (a reporter played by Tea Leoni) for the release of the catastrophic news and the President tells her:
Jenny Lerner: I want exclusivity.
President Beck: Now listen, young lady. This is a presidential favour. I'm letting you go because I don't want another headache. And I'm trusting you because I know what this can do for your career. Now, it may seem like we have each other over the same barrel but it just seems that way.
Jenny Lerner: I want...
President Beck: You want?
Jenny Lerner: May I... May I have the first question?
President Beck: I'll see you Tuesday, Miss Lerner.
Yes I believe we have the start of good thing here. At least a lot more stable when it comes to what we are concerned about: the pps.
Looks like he issued another 90 million. That's hopefully for production and not for himself.
I'm not so concerned about the A/S.
Looks like he issued another 90 million. That's hopefully for production and not for himself.
I'm not so concerned about the A/S.
Well said SATELLITE. All we can go by are the facts. And they're plain as day in the financials. I don't know if iNMG will rise quickly but it does seem reasonable that with the increase in revenue coming up, there has to be a corresponding rise in the pps.
Tom wants back his major entertainment production and distribution company that he owned in the 70's and 80's and this is the way he's getting it.
Go INMG!
Yes. The company still has all of its revenue generation that it had before plus we're within two months of the MoM release.
That's what we're waiting for. Look for a push up to and hopefully .05. And that's Without the release of MoM.
I'm not saying you'd have made out by trading last week. I'm just saying I've been trading. I'm in to see what happens with MoM too. It's a long way til we get the Q2 financials.
Depends on updates.
Actually, someone's trying to driving it down to a penny. Won't happen though. Right now the price is at .025. It's going to hover between .02 and .03 for this week although on Friday you could see it hit .04.
Schwab has allowed me to trade on INMGD since Friday the 22nd.
The Ask is at .025 and I've got a bid in for .02. That's not an 80% drop. The current price is where it's at from my previoud posts. Somebody's trying to get the price down to a penny. Ain't gonna happen. My bid for 200,000 at .02 hasn't got filled yet.
No worries. You'll see shenanigans like this probsbly for the rest of the week.
Tom hasn't dumped any shares. All of the trades since the RS have been small amounts from individual investors like us.
If he dumps shares, you'll know it. This price fluctuation always happens after an RS as some try to dump their shares and buy back in as the price drops. Others don't want any part of an RS and bail. It'll come back up.
Gotta wait for the smoke to clear. I'd buy those shares that are on the ask at .025 right now but I want to see if I can get more at .02 this week first.
Don't worry guys. Somebody just sold 6000 at .012 ($72). I've got a buy order in for .02 that hasn't got filled since yesterday so someone's trying to bring down the price and has managed to sell a few at a loss to try to trick others into selling.
Not an admin.
Exactly. Dust needs to settle first. May take another week or two.
I just went off a worse case scenario and went with round numbers. It could've still been 3+ billion issued if it was still around 3.5 billion that would mean the issued were reduced to 7.5 million.
So we're wondering what the new share structure looks like. The rs only affects the common shares. I don't believe it effects the preferred. Therefore, with a 1:500 rs we went from a little less than 5 billion common shares to around 10 million. Tom's preferred shares amount to 20 million. So I'm hoping that authorized will be reduced from 5 billion to somewhere between 50 and 100 million. That gives him the outstanding of 10 million + his converted 20 million + 20-70 million more authorized to be issued as compensation to big investors.
100 million authorized is a 1:50 reduction.
We'll see. Production is always more expensive than you budget for.
I'm not sure but I saw a few orders of around 100k shares each get filled.
I think it's actually 20 million preferred that he wants to convert at .20.
$4 million at full value but remember, that's going to convert to restricted common so hopefully it's a time restriction that he'll just keep in the bank for a while and not dump onto the market.
I think it's actually 20 million preferred that he wants to convert at .20.
$4 million at full value but remember, that's going to convert to restricted common so hopefully it's a time restriction that he'll just keep in the bank for a while and not dump onto the market.
Yep. Kinda looks that way now.
Sirpeter, I've enjoyed your posts during this RS phase. I think he's going to have to entice the bigger investors with shares. That will more than likely mean more shares issued so the O/S will probably go up while the A/S comes down. As long as those added issued shares are part of an investment policy (remember, we're talking about investment in INMG, not Tom) and not just the bad type of dilution of Tom issuing himself shares and then selling those common shares into the Bid on the open market, the dilution is not necessarily bad.
For an example of the 3 types of dilution, one of which can be good for a typical stockholder, check out this link:
3 types of stock dilution
I think we've got a few weeks until the first quarter 10-Q comes out. Maybe Tom will put into the 10-Q an explanation of any financing options and strategy involved.
When the dust settles on this rs we'll be in a better position to see any potential for future pps rise or decline. He's totally after the bigger investors now. Tom is in a new phase of the business plan so apparently he has gone about as far as he can production and distribution wise without having a much needed influx of capital. His latest PR pretty much states this as the purpose for the RS:
"to pursue acquisition strategies the Company has reversed split its common stock at a ratio of 500 to 1, effective today, and it intends to substantially decrease its authorized shares and to seek an upgraded listing on the OTCQB by the end of 2016.
Company CEO Tom Coleman said “We believe that these corporate actions are in the best interest of all existing and prospective shareholders as they will allow us to take advantage of our strong financial position and to grow the Company and business in a manner not achievable previously”.
It may be at this point that we start seeing official PR to attract those investors. There won't be a strong financial position without those investors. And the PR's that are generated certainly won't be for our benefit, although if you're still invested in this when they start to happen they will benefit you. INMG will not have a strong financial position unless the investors step up to the plate. Some of you have stated that the RS was Tom's plan all along. It may be that once he saw that the pps was either too unstable or just not going anywhere, the RS solidified in his mind as the only solution in his time frame.
One thing is for certain, he's not the pump and dump CEO. He's just calmly stated the facts in his interviews. I think more important than anything else, he is going to have to sell the plan to the big money.
I mentioned Tom threw us under the bus in my last post. I still believe that from a profit standpoint as a common shareholder that is true. Let's face it. We were all thinking of the gains going from .0001 to .05. Then the dreaded RS hit. I wrote a ton of other posts about what a jerk he was and pretty much the same things all of you were and are saying. But I deleted each one after writing it. I kept thinking about the business plan and his latest PR regarding the RS.
The PR on the reverse split is pretty common boilerplate. They always say it will enhance stockholder liquidity and be an improvement for current and future stockholders. If he can show a continuing revenue increase then he's correct from one standpoint: pps stability. I will say this looking at the EOD pps, it is back up to .045 from .0025. There may be a method to Tom's madness although all of us were hoping to go 10x value (.001) before Tom rs'd it. I think he needs investment capital right away and this is one way to try to effect it and attract the heavy investors while at the same time avoiding the bashing and flipping that occurs when ANY stock breaks out and struggles in the subpenny range. He probably also feared the same thing that happened when the stock went to .0006 and then back to .0001. I know if I was CEO and trying to avoid all of that I'd be thinking the same thing. Take the stock out of the hands of the little guys. Obviously the common stockholders are not part of his plan to generate investment capital and our share percentage will be considerably less than the issued is going to be once he issues more shares for the heavy hitters. Yes he will reduce the A/S considerably, but not 500 times less which is how many fewer shares we own right now.
Nevertheless, I'm still in it too and holding. I'm curious as to what his moves will be over the next 4 to 6 months so I'll give him that much more time. He said Q2 not only for the .05 pps, but also when we'd see all these things (his business plan) start to happen.
Obviously the huge 50x gains that we were hoping for are out the window with the rs. It will take a lot more to make this go 20x to $1.00 than it would to go 20x from .0001 to .002. But it could be a lot steadier ride like you said Rock.
If the company business plan is still the same and if Tom is actually busy at work, then nothing other than the pps and the current A/S to O/S ratio has changed. I'm holding on to my (now considerably fewer) shares to see what he does next.
Probably Tom can. He's thrown us under the bus.
This could be good or bad. I can't see this sustaining at .05 without some serious PR. They were supposed to create a new web page for the movie but I haven't seen it yet. Can't tell what's going on inside without news.
Seemed like a legitimate business but you can't RS without some associated news or development and expect it to go anywhere but down.
Could be he's just trying to create more shares. We'll see.
The $4 million in preferred stock is convertible at $0.20 so even after the RS to .05 it would have to climb 4x value to get it to $0.20 before he could convert it and get the full $4 million. Remember in the RS statement in the 10-K annual report that he said the preferred shares would convert to common restricted shares. That usually means there's a restriction against selling them (usually a time period of 6 months to a year)
Tom either has some big announcements this week or next when it comes out of the RS at .05 that will sustain it and put confidence back into INMG to cause growth, or this tanks. One or the other.
I still can't figure out why he made the RS statement on the 10 form in the first place. Usually a company does the RS without a pre-announcement. Well, we'll probably see a mass selloff when it opens at .05 unless he plans on making some big announcements. Sorry guys. I'm in this too.
3.) Status on New Broadway Cinema.
4.) Status on any other VOD channels that are started.
Should be. If it's done properly and does not look like a two bit site. Hope they spend the time on it to make it pop.
Maybe. But they bought 500k when they could have done the same with 50k.
I guess it doesn't really matter. Soon enough .0002's will be gone too!
So what happened today with the pps? I saw a 500k order go through towards the end of the day at .0002 but can anyone fill me in on how many were on the bid and ask? I can't believe that .0001's are over with...
Whoo hoo! 81 big ones. Sell S-L-O-W-L-Y on the way up!
Nice! Even at .001, that's $20k off a $2,000 investment.
We're all just accumulating and speculating right now. No movement is expected until the 10-Q due out sometime around the middle of May. Even then it may not move very much. Not until the 10-Q for the second quarter is released, unless Tom starts communicating before then.
We're just picking up .0001's while they're available.
We're all just accumulating and speculating right now. No movement is expected until the 10-Q due out sometime around the middle of May. Even then it may not move very much. Not until the 10-Q for the second quarter is released, unless Tom starts communicating before then.
We're just picking up .0001's while they're available.
That is the key ingrediant IMO.
Ha! I think you and I and a few others have figured Tom out...I hope!
And INMG is NOT GBGM. GBGM (Global Gaming Network) was headed up by Stephen Kern.
In April, 2015 Global Gaming Network, Inc. sold certain Amped Fantasy Sports and SportsAlert.com consumer assets to Lux Digital Pictures Partners (INMG now owns Lux assets) which transferred those assets to StreamTrack, Inc. ("STTK.OB"), as a part of a larger transaction. STTK.OB, a digital media and technology services company, expanded into the rapidly growing Fantasy Sports industry and planned to use the Amped Fantasy brand as part of their strategy and use the SportsAlert assets in conjunction with its overall marketing program. GBGM then directed its efforts going forward on exploiting its Fantasy Sports B2B operation targeting casinos, restaurant chains and sports bars nationwide. As consideration for the sale, GBGM received Convertible Preferred Shares in STTK.OB with a value of $120,000. These are the shares that were transferred to INMG during the INMG/GBGM merger in July and that Tom said he would sell off and place as additional revenue on the INMG financials. We should see this $120,000 on the Q1 or Q2 depending on when they're sold.
Stephen Kern, former CEO of GBGM, stated the following direction for his company at that time:
"We're pleased to have sold our Amped Fantasy Sports and SportsAlert.com assets to STTK.OB, a company dedicated to becoming a major force in the Fantasy Sports business. With this sale, we'll now have an opportunity to concentrate all of our efforts in growing our Fantasy Sports B2B operations with our partners Impact Fantasy Sports ("IFS") and Atlantic City Fantasy Sports ("ACFS"). IFS is the premier provider of customized fantasy sports games, and ACFS continues to handle all of our marketing in the Greater New York City area to casinos, restaurants chains and sports bars. Discussions continue with a leading Atlantic City casino operator to license a fantasy sports game that will be available online, mobile and via kiosk at the venue. We're confident that we'll have in place for the start of the 2015 NFL season one or more agreements with a major casino and/or nationwide restaurant chain. As well, we have recently set up our Vegas Fantasy Sports division, which will concentrate on licensing our fantasy sports games to the local gambling and restaurant venues in the Greater Las Vegas area."
INMG, headed up by CEO Tom Coleman, has divested itself of most all of the Sports Fantasy assets that were part of the GBGM/INMG merger and plainly stated that INMG's focus would be on production of web based entertainment. As former head of Atlantic Entertainment Group in the 70's and 80's, Tom Coleman is totally committed to developing web based video production and distribution and he has the experience to do that.
Although it involved a merger with GBGM, INMG is a completely different company than GBGM was, although GBGM did have some interests in entertainment. Additionally, you might recall that GBGM had 20 billion Authorized. Tom has got that down to around 5 billion. It just takes time to go from a startup to a full production and distribution company. It was a smart play on Tom's part to come away with the Lux digital assets that provide $50k in revenue every quarter to offset production costs. And it's better than borrowing millions and going in the hole to fund INMG during its startup period. It's a slower start than if he had a huge chunk of borrowed funds to immediately begin major production and that's one of the reasons it's taken 9 months to even get this far. But at least we're not sitting on a bunch of toxic debt.
So it's going to take the release of the Mountains of Madness to up the game and attract investors. But, it's not that long of a wait. June is only 2 months away.
Gee, that's too bad! I doubt if anything will happen to Fogel though, other than maybe some sanction against him by the SEC. Looks like they'll just cite him for failing to file timely reports...