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Does anyone know how much you can take away from income tax for losses in stock? xmdc caused a loss and I want to know if I should just get the shares so I can use as toilet paper or sell for reduced tax.
Now this is a stock that has potential unlike SIRI.
Hello e1 so what did I miss? Any new PR's?
Its a good bye nice pun by the way
Just keep watching ...... I will buy to cover short at around $.50 - $.55 I hope this tank keeps on sinking than maybe I will be the bag holder lol
A tax deduction is the only profit you will see. If you dont know what I mean you will see soon.
When I bought this stock at .99 cents it was a long time ago somewhere in late 2002 or early 2003 I cant remember. Thought this stock had good potential sold at $3.00 something. I started shorting this stock in 2006 sometime after evaluating an easy way to make money (shorting the hell out of this siri). They will eventually have to R/S to keep their PPS above a dollar so they can countinue to get financing. If they get sent back to BB or PK they will surely follow suite with filling for bankruptcy. Even with R/S they are screwed. Institutional traders will try to prop this falling star up. I will short the hell out of this till it gets down to zero ..... my opinion
You will eventually make a profit ha ha ha. I would call that a tax deduction. When SIRI goes under and they will use your losses for a deduction.
Makes perfect sense. Have you sifted through their financials? If they do manage to churn a profit they will barely be able to pay the interest off thier long term debt. They are wanting to buy another satilite when customer base is maxed out and shrinking. Even when the auto industry makes a comeback (Prob around late 2010) they will not be able to pay thier bills. They dont have enough cash flow to sustain consecutive losing quarters. They would have to at least survive 7 or 8. The debt they have is on their own not because of market conditions. Try reading their prospectus.
Picked up more shares today? Averaging more on this sinking ship is futile. Sell while you can at least you can get some of your money back. Think about it ..... the whole market is up look where SIRI is going. You can not blame this stocks down trend on current market conditions.
Keep dreaming I will see you at $.50
You should have waited a little while longer. I am covering around $.60 I might gamble and wait until $.50 this stock has yet to hit bottom....
Target price of $3.75? This stock will see $.60 before it will ever hit $3.75. How they going to do all this without cash flow? Tell me what this means
"The analyst outlines three scenarios for investors to consider:
Using a conservative 7x multiple on terminal cash flow per sub we believe SIRI would be worth $1.41 (20%penetration) in a worst case.
The company could be worth up to $4.57 (50% penetration) in an aggressive case.
A more realistic scenario (35% penetration by 2018) suggests that the stock is worth $3.00."
These scenarios will never happen the market is fully consumed ... this suggests that this stock with 35% penetration will be worth $3.00 just not now lmao
I dont work for a firm I was shorting this stock for the past year off and on. I will buy back later .... did not think it would have gone this low lets cover at $.60 now lol.
I am currently shorting this POS BTW Will buy back when SIRI hits $.75 - $.80. But you have to admit this stock is going to tank hard.
So will I. Probably will amount to nothing ha ha ha
Where is everyone at ...... I guess pumping this POS is out of the question. How does two unprofitable companies merge and think they can churn a profit? Oh well .....
R/S? Is that what your thinking?
Im guessing but that is the latest information that I had. I bought this stock a long time ago at .99 cents and should have sold awhile ago. Oh well thats what I get for holding the bag....
Never the less. With a current ratio of .53 this POS doesnt have enough money to pay its bills through 2009. It will happen eventually .... no bank, especially with our current economy, will front them enough money to survive. They almost have a neg assets over liablilites of 1 billion. I am only sorry that I didnt short this POS earlier.
Looks like this POS is getting ready to be delisted. About time customer base is maxed and they are thinking of getting another satalite in 2009 .... are you kidding?
This stock's only problem is no volumn.
Woa what happened to this stock?
Kong is clearly oversold. This stock is clearly undervalued.
This stock does have great potential. This company is not a hope and a dream it is the real thing.
With a Current ratio of 10.4 Kong is not trading at its cash levels. The company is very liquid right now will ample cash reserves to finish the market in China.
Provider of wireless interactive media and advertising services in China? Now is the time to picking up this stock cheap .... the demand will supercede ours by at least 3 fold and a growth of at least 15% according to my numbers. Heck with the change in Management this thing will fly
Great up potential on this stock I see a bright future
Hello e1 I am back
I would encourage people to not put their hopes in dreams in crappy penny stocks. Building capital growth comes with a company with proven history and bonifide PR's not just smoke and mirrors. Why buy a million shares at .01 and spend $10,000 why not spend $10,000 on a company with a good track record? Or why not spend $10,000 on lotto tickets at least you will have the paper stubs left when you find out your not a millionaire like you thought. Avoid pennies they get you no where I guess if you flip a few 100,000 at that price but the greater fool theory does not apply to pennies.....
Yup a little resistance at $3.00 $2.75 ideal but will load up around $2.80 ......
What you expect most people are out of this stock like me and company is withholding information like usuall. This stock is dead and worthless. Expectations of some imaginary product is the only reason I see people ever wanted to be interested in this POS. Take lossess and go on like most of us did....
Anthony
Oh the interesting thing is when I was selling in 250,000 blocks there would be a buy for the same amount so yes they are trying to prop this stock I am going to sell another mil maybe tomorrow just to see if we can prop the mps under .0010
Regards,
Anthony
I have sold 2 million shares over the past 10 trading days sold 500,000 this morning.... I still have over 9 mil to get rid of I am taking a big hit for tax reasons and will buy back another 2-5 million just for shits in giggles so now it would cost me just 8K to get 5 million wow this stock is circleing the toilet bowl right now. I hope this company can figure out a way out of all this mess Cornell, lawsuits, bring product to market, etc. Oh well since you can only deduct 3K for losses every year I see no point to sell anymore.
Regards,
Anthony
Wow looks like were screwed people ....
Show all filings for SAVI MEDIA GROUP, INC. | Request a Trial to NEW EDGAR Online Pro
Form 8-K for SAVI MEDIA GROUP, INC.
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21-Mar-2007
Unregistered Sale of Equity Securities, Change in Directors or Principal O
Item 3.02 Unregistered Sales of Equity Securities
In February 2007, the Company issued an aggregate of 218,350,000 shares of its common stock to 18 accredited and non-accredited investors for services rendered valued an aggregate of $786,600. Additionally, in February 2007, the Company issued an aggregate of 200,000,000 shares of common stock to 5 accredited investors in consideration for advisory services rendered valued at $720,000. No sales commissions were paid in connection with these issuances and all investors reviewed or had access to all of the Company's filing pursuant to the Securities Exchange Act of 1934, as amended.
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
On January 30, 2007, Mr. Mario Procopio and Ms. Kathy Procopio resigned as directors, and Mr. Greg Sweeney and Mr. Steve Botkin were subsequently elected to serve as directors to fill the vacancies.
Mr. Sweeney has served as the Company's chief executive officer since August 30, 2006. From August 2004 until his appointment as CEO, Mr. Sweeney was self-employed as a management consultant for Rogers Transportation, based in Garland, Texas. Between January 2004 and August 2004, Mr. Sweeney was a sales representative and director of sales & marketing for Railhead Underground Products, LLC, based in Ft. Worth, Texas. Mr. Sweeney was the elected mayor of Andrews, Texas for three terms. Mr. Sweeney also founded and was the President of Austin Equipment Co., Fossil Creek Productions Co and Sweeney Oil Co. Mr. Sweeney served as a District Manager of Nolan Brunson Inc. Mr. Sweeney also served in the United States Air Force, where we was a member of the Aerospace & Medicine - Laser Research and Development Team.
Mr. Sweeney entered into a consulting agreement with the Company in connection with serving as the Company's CEO. Pursuant the terms of such agreement, Mr. Sweeney receives a monthly salary of $10,000. In addition, Mr. Sweeney is entitled to receive bonuses and commissions based upon financing raised and operating targets. Additionally, Mr. Sweeney received 5 million shares of common stock upon execution of the consulting agreement and was awarded 100 million shares by the Board of Directors in February 2007. Mr. Sweeney beneficially owns 9.6% of the total outstanding shares of the Company.
Mr. Botkin has served as the Company's Chief Information Officer since November, 2004. In addition, Mr. Botkin has been employed at the Boeing Company's Integrated Defense System division for the past 30 years and is currently the project manager and team leader of Boeing's Space & Intelligence Systems Information Technology System Support in Seal Beach, California. He holds a Bachelor of Science in Information Technology and a Master of Science in Computer Information Systems from the University of Phoenix.
Mr. Botkin entered into a consulting agreement with the Company in connection with serving as the Company's Chief Information Officer. Mr. Botkin receives a monthly salary of $5,000. Prior to his election to serve on the Company's board of directors, Mr. Botkin owns 56.1 million shares of common stock. Mr. Botkin beneficially owns 5.4% of the total outstanding shares of the Company.
Neither Mr. Sweeney nor Mr. Botkin has been appointed to any committee of the board of directors. Other than as set forth above, neither Mr. Sweeney nor Mr. Botkin has been involved with a related transaction or relationship as defined by Item 404(a) of Regulation S-B with the Company.
On January 30, 2007, Ms. Procopio also resigned as the Company's secretary and treasurer. Rudy Rodriguez, a current Director has assumed the duties of corporate secretary. Phillip C. Scott was assigned the responsibilities of treasurer.
The Procopios, in their January 30, 2007 letter to the Company, a copy of which is filed as an exhibit to this Form 8-K, allege that they had brought up concerns to the other directors and officers during the six month period preceding their resignation concerning the Company's intellectual property that Mr. Monros assigned to the Company. The Procopios claim that there are no active patents covering certain Company products and that they felt "betrayed" at what they believed were patented products ready for pre-production, fabrication and testing. The Company believes this position to lack any merit. The Company acquired the intellectual property with the understanding that in many cases it would be required to file, and expects to file at appropriate times, patents to protect its intellectual property.
Item 8.01. Other Events
On January 16, 2007, Serge Monros, the Company's current chief technology officer, filed a derivative suit on behalf of the Company naming the Company, Mario Procopio, and Kathy Procopio as defendants in the Superior Court of the State of California for the County of San Diego. Mr. Monros' derivative suit alleged the following causes of action: (i) breach of fiduciary duty of loyalty;
(ii) breach of fiduciary duty of care; (iii) unjust enrichment; (iv) conversion;
(v) waste of corporate assets; and (vi) trade libel. This case is in its preliminary stages and no discovery has taken place.
On January 25, 2007, Mario Procopio filed a derivative suit behalf of the Company against the Company and Serge Monros in the Superior Court of the State of California for the County of Orange. Mr. Procopio's derivative suit alleged the following causes of action: (i) breach of contract; (ii) promise without intent to perform; (iii) breach of fiduciary duty; (iv) rescission; (v) intentional misrepresentation; (vi) negligent misrepresentation; and (vii) conversion. This case is in its preliminary stages and no discovery has taken place.
Bingo .... My point exactly. Cornell doesn't have a prayer because I do not think that the SEC will accept a SB-2 so lopsidded. The SEC's job is to protect the investor even those companies that are incorporated in Nevada can not throw investors to the gators. Remember all of those inconsistencies within the SB-2? I think I can get any 5 year old to write a better SB-2 than the one between SAVI and Cornell have made amongst themselves. Pitiful!!!!
Hmm The Warrants .... No I did not forget about them but the SB-2 has not and will not be ratified so no dilution. If you did not notice Savi did not receive that last payment..... I see a breach and remedies equaling out the amout that they did take. From a contract standpoint their SB-2 that they put together is unequivically unballanced. So SAVI owes another couple of million dollars not shares...
A reverse Split .... Are you kidding? With 448.11M outstanding a 1:10 would leave 44.81M shares a 1:100 will leave 4.4811M shares are you kidding? The SB-2 did not get ratified nor will it ever. My personal opinion is that we are getting ready to hear news and some one is manipulating the stock price trying to get suckers to sell at .003. I have not visited this site in a long time been working hard but now this stock is getting interesting. The only way to make it with this stock is to average down unless this POS goes completely bankrupt. Screw $1.00 I would like to see 1 cent so I can get the hell out of this nightmare ha ha ha.