Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Found it on the WonderCon ComicCon in L.A. website. It's listed as part of the discussion of H.P. Lovecraft on Friday, March 25 from 8:30PM to 9:30PM in Room 515B of the L.A. Convention Center.
Iconic weird tale author and poet Howard Phillips Lovecraft (1890-1937) often wrote about monstrous entities that were "unnamable" or "indescribable," his most famous being Great Cthulhu. Yet in the 79 years since his death, thousands of creative artists have used Lovecraft's creations for their own strange and nightmarish visions across all mediums of human expression. Join this panel for a look into the process of bringing the words of Lovecraft to life in the 21st century. Featuring exclusive sneak peeks at the upcoming Mountains of Madness animated webseries, the animated feature film adaptation of the graphic novelHoward Lovecraft & the Frozen Kingdom and more! Featuring Cody Goodfellow (author,The Rapture of the Deep & Other Lovecraftian Tales), Leslie Klinger (New Annotated HPL), Paul Komoda (creature design, The Thing 2011), Kevin McTurk (director, The Mill at Calder's End, creature effects artist), Sean O'Reilly (writer/director, Howard Lovecraft & the Frozen Kingdom animated feature), and Pete Von Sholly (artist, Lovecraft Illustrated vols. 1-6; storyboard artist, The Mist). Moderated by Aaron Vanek (founder, San Pedro H. P. Lovecraft Film Festival).
Friday March 25, 2016 8:30pm - 9:30pm
Room 515B
http://www.comic-con.org/wca/2016/friday
(scroll towards the bottom)
Who is showing it at Wondercon? I looked up the registered guests there and was not able to see either Innovativ Media Group or Mountains of Madness. Someone else showing it for them?
Looks like VGTel was cancelled as a trademark name in December 2014:
https://trademarks.justia.com/766/55/vgtel-76655519.html
Yeah, that's for sure.
Oversights and errors are always a drag...
Thanks for that. Appreciate it. This is a tail chaser if I ever saw one!
If you go to the bottom of that record you'll see the error.
Here's the document:
http://nvsos.gov/sosentitysearch/corpActions....ANY%2c+INC.
It appears that the error in 2008 was was that the 150,000,000 shares at a par value of .001 worth $150,000 and the 5,000,000 at a par value of .001 worth $5,000 was incorrectly stated as worth a Total Authorized Capital of $200,000, but should have been $155,000.
I see a lot of information on the name of the company being changed but what about the website name? That all occurred back in 2010, 5 years ago. The domain name VGTel.com could have been held and renewed each year even while using 360entertainmentand productions.com.
VGTel (Virtual Global Telecommunications) indicates on it's website (vgtel.com) that it's registered with the State of New York. VGTel (VGTL) is registered as a corporation with the State of New York. Does anyone know if Virtual Global Telecommunications is a New York listed corporation or is it just a fictitious business name for another corporation.
You are correct about the A/S not changing. However, when the issued shares are reduced by the RS, the board will have to vote to issue more shares out of the authorized. A technicality maybe, but still a matter of procedure.
If Tom is on top of the pr during the reverse split, then the effect of any dumping would be minimized. You have to expect some to bail, that's true. But pr and possibly an O/S retirement would help sustain the pps.
Well, he wants a successful company and the share price is an investors touchstone to the success of the company. Like I said, it's all hypothetical, but Tom's goal is an established company with ongoing growth. The last thing he wants is to torpedoe the share price after he worked so hard to establish it at .05, or somewhere close to that, in the first place.
Like you said Rock, I hope that Tom does hire a new PR company and soon. Either way, I'm glad he's planning on taking back those 100M shares from that worthless pr company. It kinda looked like a one man operation.
Actually there are two statements tied together into that one sentence in Note 6 of the 10-K.
1.) Tom wants to convert the 20 million preferred shares that have a $0.20 valuation (Max conversion value of $4 million dollars) into restricted common shares. If the share price is at .20 then it's a full valuation conversion and only 20 million shares are added to the common shares.
2.) He plans on reverse splitting the common shares.
The question is still at what point will he reverse split? It will obviously have to be before the conversion of the preferred shares. There are two figures in play here. Tom's estimation that the stock should be valued at $0.05 per share and the Series C Preferred that convert at $0.20 per share.
His goal is more than likely to get it up to $0.05, or as close as possible to that, before the reverse split to take it up to $0.20. Whatever the split ratio turns out to be will end up determining how those 20 million converted shares will impact the issued share structure.
RS @ .01 at 20:1 = 0.20. The 4.2B issued become 210M and the 20M converted are added to that for a total of 230M issued and 278M A/S.
RS @ .02 at 10:1 = 0.20. The 4.2B issued become 420M and the 20M converted are added to that for a total of 440M issued and 556M A/S.
RS @ .05 at 4:1 = 0.20. The 4.2B issued become 840M and the 20M converted are added to that for a total of 860M issued and 1.04B A/S.
The worst case scenario would have the split occur as follows where the 20M converted shares added to the existing O/S, after it splits, resulting in the O/S maxed out to the A/S level so that most of the Authorized are Issued:
RS @ .004 at 50:1 = 0.20. The 4.2B issued become 84M and the 20M converted are added to that for a total of 104M issued and 111M A/S.
This is all hypothetical based on that 10-K statement but within the realm of possibility. Either way any of these go, the company is in a position to continue the expanding production of content but at the same time is more attractive to larger investors. That's due to the percentage of the float being less of the overall common share structure. This results in a minimal effect of any flipping on the share price.
Here's something interesting.
Notice the website address listed for VGTel when doing a name search using Amilya Antonetti on macroaxis.com:
www.macroaxis.com/invest/manager/VGTL--Amilya_Antonetti
The old address was www.360entertainmentandproductions.com which is obviously no longer up.
Is that a typo on macroaxis?
845-368-0110 http://www.vgtel.com
Hmmm...
buysale? Sounds like BLUsale. Is that you?
We probably won't get to that level without the rs. But if the pps can get to .02 to .05 naturally, then a rs to get a company like INMG with rock solid financials to the next level would be a forgone conclusion. Big money would then be adding based on revenue and future product. That's when it gets solid.
We probably won't get to that level without the rs. But if the pps can get to .02 to .05 naturally, then a rs to get a company like INMG with rock solid financials to the next level would be a forgone conclusion. Big money would then be adding based on revenue and future product. That's when it gets solid.
That's it. We'll be good to go. Very interesting days ahead.
LBO does not seem likely. Tom is in to owning/controlling his own business and wants to push Innovativ Media Group into the forefront as a web channel media production giant. That's what he wanted when he created the Atlantic Entertainment Group back in the 70's with the exception of the web part.
Here's that history:
Atlantic Entertainment Group, also known as Atlantic Releasing Corporation, was an independent film production and distribution company founded by Tom Coleman and Michael Rosenblatt in 1974.[1]
Their initial releases were mostly geared to arthouse audiences, with an especially large number of Australian productions, as well as two Brazilian productions, Eu Te Amo and Lady on the Bus, that introduced American audiences to actress Sonia Braga. They shifted their focus to small-budgeted independent films in the early '80s, beginning with the surprise success of Valley Girl in 1983, directed by Martha Coolidge. Night of the Comet, released in 1984, would be their first film to open on over 1000 screens.
In 1985, they began a relationship with Paramount Pictures whereby the studio provided them money for larger-scale theatrical releases in exchange for home video and television rights to their films. In January 1989, Atlantic made a new deal with Kartes Video Communications for home video rights to the movies previously covered in the Paramount deal. However, they ultimately ceased operation shortly after this deal, amidst large financial losses from larger-budgeted films such as 1969.
That bold text above is what Tom does not want to allow again, and that's why he's gone public as a way of self funding his web based production. Tom wants all the marbles this time around and will not make the same mistake in giving the video and TV rights to Paramount or anyone else. If it weren't for the financial disaster of producing the film 1969, Atalntic may very well have still been in business today.
Tom wants that back and Innovativ Media Group is an exact duplicate of the successful Atlantic Entertainment Group, only geared to the internet.
All of the sellers who gave away nearly 500 million shares over the past several days will realize this when this juggernaut begins rolling in the second quarter. Did Tom buy up all those shares after purposely putting in the tree shaker "reverse split" statement in the recent 10-K?
If so, it may be difficult to buy back in on the cheap if the float is locked. If not, somebody bought them. When have you seen a mass dump where everyone is able to sell their shares without it going no bid? Hmm?
It may not take a few months to see a quick jump to .001 like most believe if a few small announcements are put out with the float locked.
We shall see.
That's what's on the Ask currently. I didn't see just before the bell.
3 million
That would be awesome and we'd go higher much faster with him communicating mike, but I really think it's going to get there, at least to .01 or .02, even if he doesn't communicate that much when we all see Mountains get distributed.
Stop what mike? I'm giving legitimate reasons that if Tom feels the need to rs to accomplish the business plan, that it's within the realm of possibility and in all likelihood that the rs, if he chooses to rs, would be a success. I'm going by what's actually in the 10-K. What are you going on when you say no rs? A supposed call to Tom that nobody witnessed nor can we verify? Are you trying to save INMG by telling us flat out denials of what's in print in the annual report, hoping that the elephant in the room will disappear???
You know why everyone's selling mike? Because of that statement in the 10-K about the rs. 9 times out of 10 there is one eventuality when a company reverse splits. A death spiral. If it were 10 times out of 10 I'd be out too, but it's not. Some companies, based on their revenue generation can benefit from an rs. Quite frankly, it doesn't lend credibility to you when you say that it was a misprint. That makes you out to be a wishful thinker hoping everything will be okay. A misprint??? Really? That makes Tom out to be incompetent. That's what you're implying and Tom's no idiot, he's fully capable of putting together an accurate 10-K or else he's got no business being the CEO. Every word of that 10-K was carefully thought out.
I still say that INMG is a solid company with a good business plan and good revenue generation that's only going to get better. But that's based on solid DD. What else is there to go on?
Definite possibility. I've got orders in for .0001's but they have not been filled. 205 million sold at .0001 today. But very few, if any .0001's are available.
That's great but if he did a rs while it's in the trips Tom knows that would be the death knell for his company. He knows he's got to demonstrate that the new money streams are working and boosting the existing revenue stream before an rs. That's not going to be possible until the Q2 10-Q is released. He's always pointed to the second quarter of this year fir growth. Period. I don't think his plans have changed in that regard.
fm, you've been positive ever since the reverse merger. That's great. But realistically, in order for the company to expand it's investor base to include institutional investors with any kind of real money, a capital restructuring is essential. If the asset revenues took off (Mountains, the VOD search engine, and the New Broadway Cinema) and this stock were trading as a result between .01 and .05, the only way to get it to uplist where a lot more eyes would be on it would be to reverse split it up to $1.00 or more.
Obviously there are other qualifying factors for uplisting that would need to be met, but what other way could you get it out of the OTC? And even if Tom is not planning on uplisting, he'd still have to rs to attract more institutional type investors.
It's obvious that stocks that choose to undertake reverse splits brand themselves with a red flag. Given their reputation as wealth-killers, reverse splits simply drive away many investors from ever considering a given stock. We can see by the last couple days that this has occurred here at INMG. Here's the one the one point that many investors are unaware of when it comes to a reverse stock split. If the stock selloff proves to be irrational -- that is, if investors abandon the stock for dead, even after its business prospects revive -- then it can be potentially quite lucrative for those who keep their eyes open to the opportunities it presents.
The one common denominator in the very few companies that have successfully gone through a capital restructuring by performing a reverse stock split is that their financials were improving before the split. The companies that saw their pps plummet after the split had all been experiencing either no growth, or a decline in their business growth and were trying to get the pps up to attract institutional investors when the company's business was not successful. That is where examination of the financials of the company are crucial.
In the case of INMG, the financials have been improving ever since the reverse merger with GBGM back in July. It's all in black and white in the last quarterly report and in this annual report. If you look at the balance sheet on Page F-1 we see the following:
Assets (not including Film Assets or Sports Fantasy holdings)
2014 Assets: $149,194
2015 Assets: $310,652
If you then include the Film and Sports Fantasy Assets:
2014 Assets: $329,507
2015 Assets: $2,760,652
It's obvious that the business model has been successful and the financials are improving. This is the earmark for a successful reverse split. The capital restructuring is a setup to attract institutional investors. The reverse split will more than likely not be instituted until after the second quarter financials are released and the effects of the marketing of the H.P.Lovecraft channel premiering the Mountains of Madness web series can be seen. Also expected are the release of the VOD Search Engine with it's potential for a Google-type advertiser base as income and the New Broadway Cinema and it's use of VR film techniques for audience immersive Occulus headset viewing of broadway plays.
None of the successful business plan has changed. The only thing that has changed is the one statement regarding capital restructuring as a part of that business plan to prepare for the future growth of the company.
Everybody is bashing Tom Coleman right now and it's easy to understand why. There is no pr or explanation of the capital restructuring statement in the annual report. Maybe he'll explain it and maybe he won't. He hasn't explained any of his business activity since his interviews. But the fact is, the business is successful and it continues to grow.
No risk, no reward, as they say. I'm going to hang on through the second quarter. If I can pick up more ones, great. If not, I've got enough already. This has gone to no bid so maybe Tom will speak up. But if he doesn't, it doesn't change the business.
Yeah, you're probably right. Too bad. Just gotta wait and see what happens. Along for the ride at this point.
The rs would be part of a package deal with the conversion of the preferred shares to common. When converting, he can't go over the 5.5 billion authorized between the combined existing common shares and the converted common shares. He already reduced the authorized down to its current level so he probably wouldn't raise it back up again.
So the rs would be pointless unless the pps was at .001 or higher. He's not going to do anything with the share structure until after we get out of the trips. He doesn't need the rs to get money out of the company. He's already got the cash revenue generation. It's all about the share structure and the .05 pps. Period.
Yes. I think Tom's goal is to get as many shares as he can in the conversion. The lower the pps when the conversion occurs, the better it is for him and the worse it is for us. He's already got 80% voting rights but I'm sure he also wants as much of the common shares as possible. It's a balancing act for him to convert without scaring off us shareholders.
I don't think it needs to go to .20. If it goes to .01 and Tom RS's it up to .05, we're rightn where he said it should be. The preferred do not need the pps to be at .20 to convert. Their maximum value is $4 million regardless of the current share price.
i think we'll be fine with the preferred conversion and any rs (if needed).
That would be close to $4 million and would just fit into the 5+ billion authorized. If we then reverse split at 5:1 to bring it back down to 1 billion common issued and a share price around .05...we're there baby and the reverse split actually makes the stock more attractive. Not only that, that $4,000,000 debt disappears!
Okay guys, here's another idea.
Right now we have around 4.5 Billion issued.
If the stock price can get to a pps of $0.05 then the company valuation would be $225 million. Those Series C Preferred stock, according to the exact wording in the 10-Q have "a maximum conversion value of $4,000,000." $4 million would be 1.78% of $225 million. That would be a common share count equivalent of 80 million common shares at $0.05. Hardly worth doing a reverse split to compensate for. Most of us own in the 10's of millions.
If the stock price can only get to a pps of $0.01 then the company valuation would be $45 million. In that case, $4 million would be 9% of $45 million. That would be a common share count equivalent of 400 million common shares at $0.01. Still not really worth doing a reverse split to compensate for. Maybe 2:1 or 3:1. 5:1 would bring the pps up to $.05 which is where Tom said it should be valued at. I don't see a reverse split at that level to be anything negative. And then those 400 million become 80 million and the total share structure goes from 4.5 billion to around 900 million. Much more attractive to long term investors if the company is still progressing with it's business plan.
So as long as the share price is up around .01 or better, the conversion of those Series C preferred shares shouldn't matter that much and a reverse split would not really hurt the company but would in actuallity make it a little more attractive at $0.05 per share to larger investors.
It all depends upon what the conversion ratio of those 20 million shares of Series C preferred are. Is it one for one? Is it 100 common shares for each preferred? Usually that kind of information is in the stockholders report but all it indicates is the conversion to common shares at $0.20 per share. It is interesting that in the previous 10-Q, those same Series C Preferred were stated to have a conversion price of $5.00 per common share.
Not enough information at this point. But the 10-K Quarterly report disclosure does indicate that Tom is the owner of those preferred shares.
That's what we're looking for, Psy. The more I think about what Tom's done with the company and for us shareholders with the retirement of the A/S, and taking into account how he's a man of few words, the more I think that the brief rs statement in the 10-K was a shot in the dark to let certain shareholders know that he's bound and determined to prevent a dilution and any consequence from the conversion of those preferred shares. It's possible that statement was meant as an enticement to the holder of those preferred shares that they would be more valuable as restricted common shares in the future than they currently are or that if they tried to sell them too quickly, an rs would occur that would reduce their number and value. Or something else. But no CEO in his right mind would put a statement that he's going to reverse split the stock in the near future anywhere in an annual or quarterly report. And Tom's no dummy. He's already shown through the revenue numbers and making the acquisition that his brain is firing on all 8 cylinders.
So I'm confident it's gonna work out fine. We just need him to verify that somehow.
All good DD. I think a lot were scared off initially when it bumped to .0006 briefly when the last quarterly came out and then dropped back down to .0002.
It's possible there are still too many issued shares out there. I'm hoping to see an OS reduction in the near future. Along with a note from Tom regarding the rs.
That very well could be. He seems to play his cards close to his vest. He lets us know the general direction but then limits the "how" or method he's going to use to use to accomplish the goal.
It probably depends on what the restriction is that's placed on the common shares once they are converted from the Series C Preferred.
That would be great news. If they do come out with a PR to that effect, it would be interesting if Tom gave us the reason why he put that statement in there in the first place. Thanks for your help Hgh.