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Originally, I had taken a screenshot of it, used lens to pull the link, and searched through Google that way. I will try again later when I go on my pc.
Showing video is unavailable.
Just found this article that was posted today. Most of which we already know.
The former CEOs of MoviePass and its parent company were indicted on securities fraud charges for misleading investors and making false statements about how successful the movie subscription service was, the Department of Justice announced on Friday.
Theodore Farnsworth, 60, former CEO of parent company Helios & Matheson, and Mitchell Lowe, 70, former CEO of MoviePass, allegedly schemed to inflate their stock price and attract investors by making false and misleading statements about how well the business was doing, federal prosecutors said. They have each been charged with one count of securities fraud and three counts of wire fraud and face a maximum penalty of 20 years in prison on each count if convicted.
Founded in 2011, MoviePass allowed users to attend a set number of movies in exchange for paying a monthly subscription fee. In 2017, they dropped their subscription fee to just $9.95 a month to see unlimited movies and saw millions of people sign up.
For movie lovers, it was a deal that seemed too good to be true. In April 2018, the company disclosed to regulators that it had been losing around $20 million a month for several months. Later that year, the company borrowed $5 million after claiming it could not pay its bills. The company eventually shut down in 2019, claiming that the efforts to recapitalize the business were unsuccessful.
Farnsworth and Lowe knew MoviePass's $9.95 unlimited plan was a "temporary marketing gimmick to grow new subscribers," a DOJ press release said. Yet prosecutors allege that in 2017, they both falsely claimed that it had been market tested and would be sustainable and profitable.
The two men also claimed other revenue streams would help make the company profitable and self-sufficient, yet they knew these did not exist, authorities said. And they also knew that MoviePass's parent company didn't have the technology or capability to monetize subscriber data as they claimed to be able to do, the DOJ said.
"The Department of Justice is committed to protecting the public from being exploited by criminals for their personal profit," assistant attorney general Kenneth A. Polite, Jr. said in a statement.
Chris Bond, a spokesperson for Farnsworth, said the former executive's legal team plans "to contest the allegations in the indictment until his vindication is achieved" in a statement to CBS News.
Last year, MoviePass agreed to settle Federal Trade Commission accusatgions that it knowingly deceived customers and exposed their personal data, among other things.
After shutting down in 2019, MoviePass plans to relaunch next week in Chicago as MoviePass 2.0 beta, per its website. It is being run by its original co-founder, Stacy Spikes, who had sold a majority stake in the company before repurchasing it in 2021.
The new service will have three pricing tiers, $10, $20, and $30.
https://www.yahoo.com/news/former-moviepass-executives-knew-unlimited-201021633.html
Recently unemployed and been living off of money in the bank. Anyone have a guesstimate on what the high of day would be after this news? I might dump 100k shares or so to pay some bills.
ICTY is a shell corporation. How much "profit" do you expect them to make?
Get screwed over by FINRA because they took too long to do their job. Which makes it so you constantly complain on here.
The Carepay deal was lost because of Finra not ICTY. There is an SEC report that says "Finally, FINRA’s actions were not only outrageous and egregious in the extraordinarily lengthy amount of time and irrational requests taken for the review of the action prior to their denial, but they failed to follow their own rules in the appeal to their internal committee." You want to be pissed at someone for screwing us over on a deal, talk to the shit bags at Finra.
Anyone have any thoughts on what time they will be listing? One article I read stated that another company did not list until 1:30 pm.
You mean .005? Don't get our hopes up.
Here is what I just found.
OTC.Finra Daily Deletions
On my phone so not going to spend the time trying to translate.
https://www.elsoldeleon.com.mx/local/traeran-gas-natural-mas-barato-del-mundo-a-mexico-consejo-nacional-de-energia-y-petroquimica-5905237.html/amp
I do not know if this has been posted already. Connected to Mexico through a vpn and found this. I translated the document the best I could. Mirage and Norther Hemisphere are mentioned in the last paragraph. This was posted today the best I could tell.
Original Link from Oaxaca.ElUniversal
On October 5, President López Obrador, accompanied by leaders of the country's productive sector, announced 39 projects to reactivate the economy, hit among other factors by the Covid-19 pandemic, with an investment of almost 300 billion pesos , of which more than 38 thousand were announced for Oaxaca in three works.
These projects included the installation of a liquefaction plant in Salina Cruz, specifically in Salinas del Marqués, where the construction of another port is also planned to allow the arrival of deep-sea oil tankers capable of transporting 200 million barrels of crude. .
For Carlos Beas Torres, advisor to the Union of Indigenous Communities of the Northern Zone of the Isthmus (Ucizoni), the construction of this natural gas liquefaction plant, together with that of the Jaltipan, Veracruz gas pipeline, puts Salina Cruz at risk the sovereignty of Mexico, as in his time the Mc Lane / Ocampo treaty, signed by Benito Juárez, in December 1859.
"With the gas pipeline, the Trans-isthmian Train and the installation of industrial parks in the Interoceanic Corridor, which will benefit rapacious capitalism, it is only observed that the AMLO government adopts projects of the previous Mexican presidents that according to him, he wants to judge", says the leader farmer.
The activist warns that this new project will also face resistance from native peoples, as well as the completion of the 12-inch gas pipeline that the federal government of Peña
Nieto even left since 2014. "The communities are going to demand the payment of the right of way, the manifestation of environmental impact and a consultation," he advances.
Skepticism
The news of an investment of 25 thousand 200 million pesos for the construction of the plant that will be able to send liquid or refrigerated gas, according to the needs of its clients in the country, in the United States or in Asian nations, was received with skepticism among the Most of the 1,500 inhabitants of Salinas del Marqués, where a process of land speculation began since 2014, when it was learned about the gas project, first, and the Special Economic Zone of Peña Nieto, later.
In this salt-producing community, since October 3, fishermen, transporters, construction workers and salt producers, have closed access to the area where the western breakwater of the port of Salina Cruz is built, which is 1,600 meters long to help oil tanker loading work.
While the salineros demand that Pemex comply with their offer to give them a salt refining plant, after an oil spill, the transporters ask that they be hired to carry stones.
“Here in Salinas del Marqués there are no conditions for the installation of this gas plant, firstly because the town no longer has enough land, because Pemex bought or appropriated it, including the beaches, and secondly because people are afraid of some catastrophe, the population is afraid for their safety ”, explains Griselda Gallegos Martínez, municipal agent between 2008 and 2010.
Skepticism
The news of an investment of 25 thousand 200 million pesos for the construction of the plant that will be able to send liquid or refrigerated gas, according to the needs of its clients in the country, in the United States or in Asian nations, was received with skepticism among the Most of the 1,500 inhabitants of Salinas del Marqués, where a process of land speculation began since 2014, when it was learned about the gas project, first, and the Special Economic Zone of Peña Nieto, later.
In this salt-producing community, since October 3, fishermen, transporters, construction workers and salt producers, have closed access to the area where the western breakwater of the port of Salina Cruz is built, which is 1,600 meters long to help oil tanker loading work.
While the salineros demand that Pemex comply with their offer to give them a salt refining plant, after an oil spill, the transporters ask that they be hired to carry stones.
“Here in Salinas del Marqués there are no conditions for the installation of this gas plant, firstly because the town no longer has enough land, because Pemex bought or appropriated it, including the beaches, and secondly because people are afraid of some catastrophe, the population is afraid for their safety ”, explains Griselda Gallegos Martínez, municipal agent between 2008 and 2010.
In this community of 1,500 inhabitants, any project is viewed with skepticism, since the oil company settled for years on land and beaches, but they continue to fight against poverty.
According to the government project, the companies Mirage Energy and Northern Hemisphere Logistics are expected to participate in the liquefaction plant, which associated with Bluebell, obtained financing of 4 billion dollars, of which 2 billion will be applied. in the construction of the gas pipeline and the natural gas plant, which according to the energy consultant Fernando Mimiaga Sosa, will facilitate the reconversion of the Salina Cruz refinery and the export of gas to the US and Asian countries, as well as to sell to the Federal Commission Of electricity.