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Lol I was amused by that
I just asked about this on the call... No merit and company is not concerned and Nader just found out about it. Said its nothing, happens all the time and it's business as usual.
Yes. Nothing but great news on this call. Just wondering if someone will ask about that "investigation" that just showed up
Cydy only requires 150 enrolled patients now instead of 300! FDA approved
Not sure if you are serious or not, but I will give you the benefit of the doubt and provide you with the background information.
This PR was not timed for this short attack nor was it meant as a threat. It was planned since Friday night. As soon as the proxy dropped, MGT and McAfee said they will answer the top 3 questions asked by shareholders over the weekend and provide the update.
So those were the 3 top questions asked, RE: dilution, RS and the acquisitions.
The intent was to be transparent and communicate with the shareholders directly, and it answered the 3 questions people had about the proxy.
The answers came out via twitter and facebook. And then a copy and clean format was put together to put on the website as a PR so it can be visible and archived etc.
This company's cyber security arm is only 2 months old. Imagine you taking over a ticker and shifting its business focus to a brand new industry with a brand new team. How long would it take you to do anything? The amount of progress that has went into this company in 2 months only is way faster than any other new company I have ever seen.
So let them carry on. Let's see what happens in August. All these things have to be voted on and approved before we can ever dream of hearing a business plan (i.e. finalize the acquisition).
If this was a pump and dump, it would have dumped and got shut down long time ago.
-Also these new proposed 250,000 A/S are not being used dilute right now. They need to be voted on and approved August 24th, then that can happen.
-As I type this I see we're back at $4.00. But I am not fooled by PM/AH trading. Low volume movements don't excite me. But nice to see 4 showing up so soon.
My last post for the day. Good luck to all.
I did. Two things:
1) That PR dropped at least 5 minutes AFTER the selling, which was 3:29 to 3:38
2) That PR did not provide anything new, it had:
i. things we knew from the proxy since Friday night
ii. a copy of what was shared this morning
Oh well. It's all good though. Personally, I am disappointed but I am not hurting (this has to drop a lot further down to actually hurt me), and I hope no one else is hurting either.
Right now at 3.86 , it's... not so bad. It was 3.30 or so 2 weeks ago.
Good luck to all...
I doubt it. Unless there is a PR about a new product or something, will probably trade around 3.50 - 4.00 until people calm down
Seems like you don't know how to read. Thats my point. You sell on news, which is this morning. Not at 3:30pm on nothing
And they saw this all now at 3:30pm? The news came out Friday. And those who didn't see it Friday, had all weekend to see it. And then if they missed it again for having a life and doing other things on weekends, it was released again by the SEC this morning at 6am. That's when it would have dumped and there would be no "conspiracy".
Yet magically at 3:30pm everyone realized? After trading well all day, I dont buy that.
You being short or not, this was a coordinated short-attack. There is no way your technical "analysis" would have predicted it. This did not consolidate organically. look at the chart. That amount of dumping out of the blue on no news is not organic trading. But like I said all the power to you, you got to increase your position or buy back cheaper or whatever you did so congratulations.You were bragging about it, so I am here congratulating you and letting you have your last laugh.
I would agree with you if this was a slow drop all day. This wasn't "consolidation" . Consolidation does not happen by having a big crash that leads to a halt all within 30 seconds. This was coordinated short-selling. And again, good for you and the others in on it. It had nothing to do with company news. If it did, that selling would have happened at 9:30am. Not on no news and out of the blue after a decent trading zone all day.
Clearly you were aware of this coordinated short attack. Since you seem to be in the know about what these scum do, then I will definitely anticipate this manipulation the next time you are so extremely vocal about a drop when everything seems to go smoothly.
This drop was 100% manipulation. If this was anything to do with the proxy news, then all these sellers would have pounded it down in PM or early morning today. NOT now at 3:30 for no reason, when it obviously traded in a decent range with no major panic all day. But the shorts thought this would trade like the rest of the 0.0001 stocks they're in, and thought it would crash in the morning. When it didn't, came the 3:30pm back-up plan.
So yes, this was clearly manipulated and either you were lucky, or in the know. All the power to you either way. The fundamentals of this company did not change between this morning and 3:30pm. Same company, same short and long term potential. Nothing changed.
damn son, lol
Looks green to me buddy. New high of day.
Correct. MGT/McAfee said "We expect to utilize a reverse split only if required to meet [uplisting] requirements. ...minimum share price standard of $5 for initial listing."
So we are not far off from $5.00 at this time. Given the updates expected between now and early to mid August, we can very well be trading between $5 to $6 per share.
At that point, MGT will uplist easily.
MGT/McAfee have already stated that they have held preliminary talks about uplisting - that is the goal. If it cannot be done organically, then as I have said over the weekend, this RS is the back-up option to uplist.
And again, THE REASON for RSing and uplisting is very important to note here. They want institutional investors. We want those too. They will only invest in stocks $5.00+
Very bullish. IMO-- no RS will be necessary.
Exciting times! I cannot wait! Looking great here $MGT
i just posted it
If this company had ANY malicious intentions, they would not have listed the Reverse Stock Split item on this proxy AT ALL. MGT was approved by shareholders in December 2015 to do a reverse split between 1-for-8 up to 1-for-40! The old management could have done this RS at any time since then, or the new management with McAfee could have done this at anytime since he took over including today.
They have the full right to RS our shares up to 40 times and dilute the crap out of us, but instead, the new Board and McAfee were fully transparent and proposed a change of that option down to 1-for-2 , should they ever need to go this route.
Think about it, they could have RS'd up to 1-40 , but yet they decided to drop it down to 1-2. Millions upon millions have poured in already, and the price went up from roughly 0.20 to 4.50, and it has been 2 months since - and they could have simply held on to their previous outrageous RS option, and we would not be here talking or worrying about it. But they didn't. What does that tell you? This is literally the opposite pattern of the penny stocks everyone is used to. This is how companies operate in the big league - FOR the shareholder, clean, and transparent.
And again, they didn't say they were going to do an RS. For now this is there as a backup option should the company ever need to go that route. A company that has multiple options and choices should things not go their way - great planning.
JM to address "dilution" questions today:
this one is easy and is the most common. Let's let the rest roll in.
— John McAfee (@officialmcafee) July 9, 2016
We've been here buying on the news for months
Not important at all, but look at this if you have time while on the toilet: There is this individual posting here, he has been trashing McAfee's name since May. Get some background:
Look at these links to see some comments between MGT John McAfee and this individual:
Ignore him. He's one of my lesser trolls. https://t.co/Izg9ziGwQi
— John McAfee (@officialmcafee) July 5, 2016
Thank you. That can help him. I will publish all the evidence about him next week. He is dangerous to children. https://t.co/4L2MLhSaUs
— John McAfee (@officialmcafee) June 1, 2016
Kevin(_peace_is_mine_) is too tragic to harm. His nothingness is punishment enough. I truly feel sorry for him. https://t.co/HQ8Zq3ELSX
— John McAfee (@officialmcafee) June 1, 2016
Yes. He uses so many handles as he's running that I forget. But he's going to prison. He is a danger to children. https://t.co/Wm9MYtqlFz
— John McAfee (@officialmcafee) June 2, 2016
I fired one of my trolls - @peaceismine - wanted for child rape and hiding in Mexico.
— John McAfee (@officialmcafee) June 1, 2016
I was his life for four years. please ridicule him.
He will be in prison soon. No Internet access. https://t.co/96354I6y4s
— John McAfee (@officialmcafee) June 2, 2016
That's so wrong. Whether what we get is good or bad news, I cannot predict. But specifically what you are saying makes no sense. A Friday afternoon bad PR would actually have to contain the bad news. What you are saying would make sense if they announced a Friday afternoon/end of day conference call. But they didn't. This is going to be a Wednesday update, so the bad news if it comes would be on Wednesday, otherwise we can't predict the good or the bad based on the call being announced Friday.
I am out of posts for the day.
Reverse Stock Split
During a meeting of the Company’s stockholders held on December 31, 2015, the Stockholders approved to authorize the Board of Directors, without further action of the stockholders, to amend the Company’s Certificate of Incorporation to implement a reverse stock split of its capital stock, at a ratio within the range of 1–for–8 to 1–for–40 at any time following such meeting and prior to the 2016 annual meeting (the “Reverse Stock Split”). However, the Company’s [new] Board of Directors deem it advisable for the Company to reduce the ratio to no less than 1–for–2. In addition, stockholder approval is sought to authorize the Board of Directors to extend the implementation of the previously approved stock split (at a ratio of not less than 1–for–2) to any time after the Meeting, but before the 2017 annual meeting of stockholders
The Authorized Capital Increase
The purpose of the Authorized Capital Increase is to increase the number of shares of the Company’s common stock available for issuance by the Company for general corporate purposes, including acquisitions, equity financings and grants of stock and stock options, and other transactions under which the Company’s Board of Directors may determine is in the best interest of the Company and its stockholders to issue shares of common stock.
The Authorized Capital Increase will not have any immediate effect on the rights of existing stockholders, but may have a dilutive effect on the Company’s existing stockholders if additional shares are issued.
----
MGT Tweet:
$mgt Q/A: No #Bitcoin mining & @e_tagged in proxy? Neither needed stockholder approval. Will be in future period filings like 10-Qs & 10-K.
IF THIS WAS A SCAM, IF MGT IN ANYWAY WAS TRYING TO PUMP AND DUMP, AND DILUTE AND RIP OFF THE SHAREHOLDER FOR NO REASON, THE RS ITEM WOULD NOT HAVE BEEN ON THIS PROXY. MGT is ALREADY and presently APPROVED to RS our shares at a minimum of 1 to 8, to a maximum of 1 to 40! They literally could have announced a RS of 1 to 40 today and be fully within their right to "rip us off". But they didn't. Instead they lowered the approved RS option to 1-for-2!
CURRENTLY, A/S 75,000,000 and RS option at ratio of 1-for-8 to 1-for-40
After shareholder meeting, A/S 250,000,000 and RS option at 1-for-2
Makes sense for the increase in A/S as this gives them the option to raise money for any and all of their operations, should anything come up. Yes ideally we want company revenue to pay for operations. But we all know this is still a brand new company that is only now being built up and restructured. Until the revenue generating services/products/mining are up and running, this is there for them to use if needed. So yes, it is may be dilutive once they decide to sell some of those shares, but this is not a pump and dump. This is company development, and it's why they are a public company ... to raise the funds to get up and running.
Bottom line is this is the question all the real bears have been raising all along - how will MGT pay for all this? And here is the answer. at the end of it all, shareholder value WILL increase because the products and services and operations they are raising money for today will bring us $$$$.
---
"MGT Weekend update: our team is finishing up our new website! It'll be a work in progress but an available resource for all investors. $mgt"
The point is, IF they choose to an RS, and this RS is done at the right time, all the random scared traders and ihub investors can sell, but one institute alone can come in and bring in WAY more buying power than thos sellers, which will send the price up. Then weak hands will want back in and chase it upwards.
If a reverse split is needed, it would mean that we are trading below $5.00 - $6.00 , and if the reverse split is completed to bring us up to, say $8.00 alongside an earnings report that announces a new partnership that will bring in X amount of money, then the institutes will load up heavily after the RS and the price will go way up.
Like I said, a successful RS requires the right timing and the right reasoning. Most RS are done for the wrong reasons.
Yes that's right but also won't happen unless they decide to use it. It's a back pocket option. Currently MGT was approved to reverse split our shares up to 1-to-80. But they never used it, and instead chose to reduce the option.
Not important at all, but look at this if you have time while on the toilet: There is this individual posting here, he has been trashing McAfee's name since May.
Look at these links to see some comments between MGT John McAfee and this individual:
Ignore him. He's one of my lesser trolls. https://t.co/Izg9ziGwQi
— John McAfee (@officialmcafee) July 5, 2016
Thank you. That can help him. I will publish all the evidence about him next week. He is dangerous to children. https://t.co/4L2MLhSaUs
— John McAfee (@officialmcafee) June 1, 2016
Kevin(_peace_is_mine_) is too tragic to harm. His nothingness is punishment enough. I truly feel sorry for him. https://t.co/HQ8Zq3ELSX
— John McAfee (@officialmcafee) June 1, 2016
Yes. He uses so many handles as he's running that I forget. But he's going to prison. He is a danger to children. https://t.co/Wm9MYtqlFz
— John McAfee (@officialmcafee) June 2, 2016
I fired one of my trolls - @peaceismine - wanted for child rape and hiding in Mexico.
— John McAfee (@officialmcafee) June 1, 2016
I was his life for four years. please ridicule him.
He will be in prison soon. No Internet access. https://t.co/96354I6y4s
— John McAfee (@officialmcafee) June 2, 2016
No, reverse split. What did I say wrong? Let me know and I will clarify..
MGT did not say they are going ahead and doing a reverse split, they simply reduced the current approved RS ratio that is 1–for–8 to 1–for–40 to 1-for-2 --- THIS IS GREAT NEWS.
Also, the negative preconceptions most people have here of RS is due to penny stocks doing RS simply so they can uplist to a higher exchange with nothing in the pipeline, or failing companies who risk being kicked off the exchange after their price drops.
A business who MAY CHOOSE to do a RS to attract institutional investors, who do so at a prime time after an announcement of a partnership, major product or around a positive earnings report- THOSE companies skyrocket and benefit heavily from an RS.
SO YOU DECIDE, **SHOULD THEY DECIDE TO DO A RS** IN WHICH CATEGORY DO YOU PLACE MGT IN????? We don't know the future but we can at least predict to the best of our abilities what type of management and company we have, and what the goal is. And from what I see, we are in the right category of companies. This isn't a Penny Stock authorizing 1-for-100 RS so they can move their price from 0.001 to 0.1 for no reason.
If you read my posts you would know I am 100% with you.....
I went through a RS with AVX# , best thing to happen to that stock at the time. True they are mostly negative - but everyone has different experiences and it all depends on the reason behind it. Few companies do it for the right reasons at the right times - at this point I trust our leadership here to make the right decisions. Penny stocks doing reverse splits so they're not delisted, is not the same as a company doing a reverse split the week of a major product and partnership release/announcement to bring in institutes.
Regardless, just to clarify, the reverse split item on proxy is there to reduce the current shareholder approved RS ratio from 1–for–8 to 1–for–40. No mention of actually doing one now. Last year they voted for that 1-8 tp 1-40 and did not use it. Now it is reduced to 1-2. It's simply there to not detract investors who see that as the backpocket RS option.
There are many things in the proxy. Lot of good things, and some which will be written off as "bad" by others who expect to be millionaires in the stock overnight. Can't predict price action Monday but long term, this is still great. MY take aways from the proxy and current happenings:
1) It makes sense now for why the released the late 10:15pm PR last night, especially since markets closed and ZERO effect on stock price. They released the news last night because though they did their part, the final delay was in the hands of the SEC until Monday. To keep their word, their PR included the following:
effective immediately, it intends to use social media platforms, including Twitter and Facebook, under the usernames "@MGTCI," "@officialmcafee," "@MGTCI" and "@officialmcafee," as a means of disclosing information about the Company, its services and other matters and for complying with its disclosure obligations under SEC Regulation Fair Disclosure.
That allowed them to publish the Proxy on their own, via the company's Twitter feed this morning.
What this tells me? Again, though they were late the first time, they value the shareholders and want to maintain our trust. They went out of their way repeatedly to make sure they COMMUNICATED in a clear and transparent way what is going on. And IMO they came through and gone above and beyond.
2) Adding to the above, McAfee and Tiffany tweeted out earlier that McAfee will answer the Top 3 questions most asked to him regarding the company/proxy this weekend - company quotes:
"Disclaimer: it goes without saying the top three questions @officialmcafee will answer for @MGTCI will be SEC compliant."
"all will be clarified. As demonstrated, we are as transparent as possible. Expect nothing less."
3) Increase the Company’s authorized common stock from 75,000,000 shares to 250,000,000 shares of common stock. Here it is, this is the possible dilution people waited for. From the proxy:
"The purpose of the Authorized Capital Increase is to increase the number of shares of the Company’s common stock available for issuance by the Company for general corporate purposes, including acquisitions, equity financings and grants of stock and stock options, andother transactions under which the Company’s Board of Directors may determine is in the best interest of the Company and its stockholders to issue shares of common stock.
The Authorized Capital Increase will not have any immediate effect on the rights of existing stockholders, but may have a dilutive effect on the Company’s existing stockholders if additional shares are issued. "
This is how they will pay for things, should they need the funds. Hence being a public company. They are building a new giant company, and these are the funds they can go into, to bring their visions to reality and in doing so, increase shareholder value as products and revenues roll through. I am not concerned.
4) The Reverse Split may or may not happen. We don't know. It was primarily an item on this proxy because it is to reduce the CURRENT shareholder approved range of 1–for–8 to 1–for–40 to "no less than 1-2", as this is no longer a penny stock with outrageous RS ratios. The RS may come if the company does not organically reach and maintain $5 minimum to $10. I say minimum $5 because that is the institutional investors cut-off. We are trading very close to $5. Reasons for why an RS would be applied, from proxy:
"We believe that the Reverse Stock Split could further enhance the appeal of the Common Stock to the financial community, including institutional investors, and the general investing public. We believe that a number of institutional investors and investment funds are reluctant to invest in lower–priced securities and that brokerage firms may be reluctant to recommend lower–priced stock to their clients, which may be due in part to a perception that lower–priced securities are less promising as investments, are less liquid in the event that an investor wishes to sell its shares, or are less likely to be followed by institutional securities research firms and therefore to have less third–party analysis of the company available to investors. In addition, certain institutional investors or investment funds may be prohibited from buying stocks whose price is below a certain threshold. We believe that the reduction in the number of issued and outstanding shares of the Common Stock caused by the Reverse Stock Split, together with the anticipated increased stock price immediately following and resulting from the Reverse Stock Split, may encourage interest and trading in our common stock and thus possibly promote greater liquidity for our stockholders, thereby resulting in a broader market for the common stock than that which currently exists. However, the Board of Directors now believes that the previously approved 1–for–8 to 1–for–40 range may not be as appealing as the proposed ratio of not less than 1–for–2. "
Reverse split, if it happened, is still a great thing here. We are not RS'ing to try and remain listed on the exchange like most penny stocks do. We would be undergoing an RS to attract institutional investors.
5) Robert Ladd remains in MGT as Chief Operations Officer at salary of $240,000
6) McAfee's annual salary is $1.00 per day + stock options, and eligible for bonuses when meeting performance
John McAfee works for and values the shareholders.
Yes they did lol, but last night is when my crystal ball broke. Proxy wasn't out at the time.
My crystal ball is in the shop, it broke last night waiting on proxy
McAfee's & Ladd's Salary and Titles
PROPOSAL 7 - RATIFY THE EMPLOYMENT AGREEMENTS ENTERED INTO BY THE COMPANY WITH ROBERT LADD AND JOHN MCAFEE
Agreement with Robert Ladd
On July 7, 2016, the Board of Directors unanimously adopted a resolution approving, on behalf of the Company, the Employment
Agreement between the Company and Robert Ladd, our current Chief Executive Officer and President. The terms of his agreement were
reviewed and approved by the Company’s Nominations and Compensation Committee. Under the terms of the agreement, Mr. Ladd will, upon the closing of the APA, serve as our President and Chief Operating officer and for services rendered, Mr. Ladd shall receive a salary of
$240,000 per year and is eligible for a cash and/or equity bonus as determined by the Nomination and Compensation Committee. Further, Mr.
Ladd is entitled to receive up to 2,000,000 shares of the Company’s common stock, 1/3 of which shall vest within 12 months from the
execution of the agreement, another 1/3 within 18 months, and the remaining 1/3 within 24 months from the execution of the agreement. Lastly,
the agreement also provides for certain rights granted to Mr. Ladd in the event of his death, permanent incapacity, voluntary termination or
discharge for cause. A copy of Mr. Ladd’s employment agreement is included as Annex D hereto.
Agreement with John McAfee
As part of the closing conditions to the APA, the Company agreed to enter into an employment agreement with John McAfee pursuant
to which Mr. McAfee will join the Company as Executive Chairman of the Board of Directors and Chief Executive Officer of the Company at
the closing of the transaction contemplated in the APA. It is currently contemplated that Mr. McAfee will have a base annual salary of $1.00
per day, payable at such times as the Company customarily pays is other senior level employees. In addition, Mr. McAfee will be granted
Executive options (the “Options”) to purchase an aggregate of six million (6,000,000) shares of the Company’s common stock (the “Option
Shares”), which shall be exercisable for a period of five (5) years as follows:
> options to purchase 1,000,000 shares of the Company’s Common Stock at a per–share price of the higher of $0.25 or the closing
price of the Company’s Common Stock as quoted on the NYSE MKT as of the date of the full execution hereof;
> options to purchase 2,000,000 shares of the Company’s Common Stock at a purchase price of $0.50 per share; and
> options to purchase 3,000,000 shares of the Company’s Common Stock at a purchase price of $1.00 per share.
Mr. McAfee will also be eligible to earn a cash and/or equity bonus as the Compensation Committee may determine, from time to
time, based on meeting performance objectives and bonus criteria to be mutually identified by Mr. McAfee and the Nomination and
Compensation Committee. Such objectives and criteria may be based on a favorable sale or merger of the Company, in additional to operating
metrics. A copy of Mr. McAfee’s proposed employment agreement is included as Annex E hereto.
As stated above, there can be no assurance that the conditions to closing the APA can be obtained nor that the transaction will be
approved by shareholders of the Company.
MGT SCHEDULE 14A (Proxy) Here:
http://content.stockpr.com/mgtci/files/MGT+Capital+Pre+14A.pdf
----
To our Stockholders:
NOTICE IS HEREBY GIVEN that the 2016 Annual Meeting (the “Meeting”) of the stockholders of MGT Capital Investments, Inc., a
Delaware corporation (the “Company”) will be held beginning at 10 a.m. EST on [ ] 2016, at the offices of Sichenzia Ross Friedman Ference LLP located at 61 Broadway, 32nd Floor, New York, NY 10006 for the following purposes:
1. To elect the five (5) nominees named in the attached proxy statement as directors to be elected for the term provided herein and
until their successors have been elected and qualified;
2. To ratify the appointment of Friedman LLP as the Company’s independent registered certified public accounting firm for the
year ending December 31, 2016;
3. To authorize the issuance of 43,800,000 shares (“Purchase Price Shares”) of Common Stock to certain sellers (“Sellers”) set forth
on the signature page of that certain Asset Purchase Agreement, dated May 9, 2016, as amended July 7, 2016 (the “APA”)(1), a
copy of such amendment is attached as Annex A to this proxy statement pursuant to which the Company shall purchase certain
assets from such Sellers in accordance with NYSE MKT Company Guide Section 712; and
4. To approve the Company’s 2016 Stock Option Plan (the “Plan”) and approve the issuance of 8,000,000 options under the Plan to
certain officers of the Company.
5. To authorize an amendment to the Company’s Restated Certificate of Incorporation to increase the Company’s authorized
common stock from 75,000,000 shares to 250,000,000 shares of common stock.
6. To authorize the Company’s Board of Directors to reduce the ratio of the previously approved reverse stock split from a range of
1–for–8 to 1–for–40 to a ratio of not less than 1–for–2 and to authorize the Board of Directors to extend the implementation of
the previously approved stock split (at a new ratio of not less than 1–for–2) to any time after the Meeting, but before the 2017
annual meeting of stockholders.
7. To ratify the employment agreements for Mr. Robert Ladd and Mr. John McAfee.
8. To authorize amendment of the Company’s Restated Certificate of Incorporation to change its name to be “John McAfee Global
Technologies, Inc.”
9. To transact any other business as may properly come before the meeting or any adjournment or postponement thereof.
Well I'm not going to cry about it. It's Friday night, im happy and I'm chillin. Excited for the proxy, and if it doesn't come tonight then let it come Monday. Don't matter. If proxy is great no one will give a shit it's late. If it's bad , again no one will care. Content of proxy outweighs us sitting here like kids in a car "are we there yet?!"
Lol the night is still young. Let's first wait and see what happens in a couple of hours... 10pm is the new target