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Stan Lee is on CNN money not much new information and he doesn't seem to know much in the way of details but he does drop the POW name
http://money.cnn.com/video/news/2009/08/31/n_disney_marvel_stan_lee.cnnmoney/
can't find the docket for the new SLM v. Marvel case. I checked central NY district court, maybe it's still too soon but if anyone knows the docket number please post it. Thanks.
Ok here's the most recent doc. on the QED v. Nesfield case (pow vs. slm)
I checked out the other one where SLM was suing but I think the suit and countersuit were combined under one ruling. Anyway I started browzing this doc and it looks the most relevant, don't have time to read it all at the moment but all the cases I was following re: POWN and SLM are closed. Now I gotta go look for new dockets. I posted the pdf froma free website, hope it works.
http://skizfiles.synthasite.com/resources/00075213.PDF
Thanks, I just looked up the SLM vs. Marvel that I was following. It was dismissed on 9/11/08 but the language seemed to suggest that they were going to try again. That was docket 1:07-cv-02238 southern NY district court (closed). Couldn't figure out much of the "why." Will look up the other dockets I know about and see if I can find the new one.
Finally some action on this one. I got so tired of monitoring the lawsuits on pacer. Looks like so far this applies to characters created at SLM then used at POW which I don't think is very much. I read a post where SLM suing Marvel/Stan was being treated as something new, did they withdraw the previous suit and re-file?
Sorry haven't listened. I honestly don't have a very big stake in POW anymore so I just pop in to see if anything big is happening. I was interested in possabley investing in Marvel and that got me to check on the lawsuit thought I would share with the board. Just keep hitting the wall in terms of financial information so reporting is the thing that would really make a difference. I'll check out the CC when I get a chance but I doubt I could add anymore insight.
last bit about this lawsuit for today. Tried to cut and paste the document but the pdf was really low rez.
Stan Lee Media v. Marvel Entertainment.
United States District Court Southern District of New York
docket 1:07-cv-02238
Civil Case Management Plan and Scheduling Order
Discovery - additional interrogatories allowed pursuant to Local Rule 33.3 to be
served no later than: September 11, 2008
Discovery - depositions to be completed no later than: October 1, 2008
Discovery - requests to admit to be served no later than: October 2, 2008
All expert discovery to be completed no later than: December 3, 2008
Parties to meet and confer on schedule for expert disclosures no later than: September 11, 2008
All counsel to meet face-to-face to discuss settlement no later than: October 25, 2008
I'll try to remember to check pacer agian mid september.
sooooooooooooooooo would be interesting to see where this goes. Marvel and even Stan contend that Stan Lee Media isn't a real company. blah, complex stuff, would make a great documentary.
FYI two recent arcticles about lawsuit between Stan Lee Media and Marvel. If the links don't work these are available on Yahoo finance under Marvel headlines. I wonder if these articles indicate that this is comming to trial. Will check pacer if I have time.
http://www.fool.com/investing/general/2008/07/07/is-marvel-a-villain.aspx?source=iflfollnk0000003
http://www.fool.com/investing/general/2008/07/11/fool-video-stan-lee-media-vs-marvel-entertainment-.aspx
correction: I misread something about Stan Getting 1million a year from Marvel. This was before getting fired I think. I'm not too clear on he current relationship with marvel. Maybe someone else knows. I used to have much of this info handy but lost interest in the short term. Apparently Stan got a 10 Million dollar settlement from Marvel for profits from the movies. Of course if POWN did any reporting plenty of this stuff would become clear.
In the current situation, Stan does not own Iron Man or any other character he created at Marvel. Marvel owns the rights to those characters. Stan was fired from marvelin 1998 and in the 90s was involved with Stan Lee media and making new, non marvel creations. Stan Lee Media failed miserably and there was illegal stock manipulation by Peter F. Paul. Pow is an attempt to start over without Paul. There are lots of lawsuits flying back and forth between the stock holders that got burned by Stan Lee media and POW and Marvel.
Stan Lee has since been hired back at Marvel in a sort of spokesperson position at 1 million a year I believe but he does not own the rights to any of the characters he worked on at Marvel nor does he make any business decisions. He may get separate payments for the movie cameos but I don't know about that. POW is trying to use Stans Fame to draw attention to new creations he has created outside of Marvel. As you can see Marvel movies are doing quite well but POW stock is still very low and high risk. Folks buying POW are hoping that one of the new properties will take off and POW will start reporting and become legitmate with reporting and accountability and all that.
Good Post rickn23. There's quite a bit of misleading posts on these pinksheet boards. Some people are pumping (saying only positive things for their own gain) and some just don't know enough and want only positive posts that justify the big risk they are taking with their money by investing in pinks. Have to be suspicious when someone calls everyone who doesn't sell at .04 a fool and then gets back on the bandwagon a week later. There's always the ignore button.
If you pull up POWN on the OTC Pink Sheets site you get the Stop Sign 'No Information' Icon in the Dark/Defunct Tier. If they started to provide some financial information, perhaps they would be bumped up to a 'Yield Sign' limited information. There are only two icons lower than the stop sign and that's Grey Sheets then Caveat Emptor in the Toxic Tier. Currently people checking the official OTC site are being warned away from POWN. IF they were to consistently provide financial info. I'm guessing they would get bumped up to the transparent or trusted tier. Pown has a long way to go to come out of its sketchy past. Thinks are looking much better lately, hopefully it will be a trend.
http://www.pinksheets.com/pink/otcguide/investors_market_tiers.jsp
Stop Sign: No Information- Explanation
Indicates companies that are not able or willing to provide disclosure to the public markets - either to a regulator, an exchange or Pink Sheets. Companies in this category do not make Current Information available via Pink Sheets News Service, or if they do, the available information is older than six months. This category includes defunct companies that have ceased operations as well as 'dark' companies with questionable management and market disclosure practices. Publicly traded companies that are not willing to provide information to investors should be treated with suspicion and their securities should be considered highly risky
This is being reported in Variety. Will be interesting to see if there are any waves tomorrow. Hope it's not an april fools.
yep, Central CA district court docket 2:07-cv-04438. Still going on. A substitution of council was just granted so now they have new Lawyers from a Colorado firm on the case. It's like watching paint dry.
"Stan Lee Media" does have something to do with POW. It was Stan's first attempt at his own company outside of Marvel and last I checked Stan Lee Media investors are still trying to sue Pow. But I haven't checked in a while.
The GoComics site has tempered my doubt a bit. Looks like a quality site with lots of big names. Could be a good place to be for the digital comics scene.
Cell Phone comics? Suppose it could be cool on an iphone. I liked the Striperella cartoon. Wonder why pown doesnt try to get a foothold in print comics since that's where his main fanbase is. Hope there is more to come. Still waiting for a more substantial PR before buying.
I know I would. I just picked .20 because they listed the market value as 230,000 for 1,150,000.00 shares so I guessed that they would at the very least want to sell them @ .20. Just guess work which I probably shouldn't engage in. It looks like Fmcoco is a consulting Firm that helps companies go public and took payment in shares. I have sort of reached a dead end for the moment about learning what they do and what they have done for Pow and I haven't heard anything back from the co. Haven't had time to go deeper.
no million + share sell off today. didn't mean to cause any undue worry, was just looking for details on the planned sale. my guess is that it will add resistance to some price point above .20 which isn't too bad because on the first disney news the volume went over 4 million in a single day. We need something that will attract new money.
thanks for the info. If I had those shares I would much rather have a year to wait for a better price to sell.
I emailed the investor email about the Fmcoco relationship but with no response. Perhaps I'll try Ms. Kobayashi's personal email, thanks.
Anyone knowlegable about inside transactions that can explain the implications of a "planned sale"? Does that mean the stock will absolutely be sold on that date or is it an option? I guess I'll know by Tuesday.
(from POWN stock insider transactions)
September 25, 2007 Fmcoco
Other Planned Sale -- $230.0K 1,150,000.00 --
I seem to remember someone suggesting there would be disney news this week. Does the lawsuit news count since it mentioned disney? Please try to keep to DD and not so much guessing.
In other news there's been a lot of activity in the
"Qed Productions LLC et al v. James Nesfield et al" case but unfortunately pacer isn't posting any of the recent docs so I don't know what's going on.
I can see this shooting way up again just on hype, I was just wondering if 3 dolars was just an arbitrary number or if there was some other basis for that number. I do hope this one comes out in the light and cleans up its shady past.
you're a brave one. I do my DD and speculate but I'm never confident enough with the risk factor to recomend a pink sheet stock to a friend. Without any reporting of profits from the company, where is this $3 figure coming from?
that's some of the most interesting DD to come from this board in a long time. I'm a recovering naive investor and it's interesting to see that some companies were victims as well. You know I've tried to bring my re-awakened critical thinking skills to other boards and some people just don't want to hear anything negative about the co. they've invested in. Some don't even want to ask critical questions. Many prefer slightly positive fluff over a probe into credibility of the company. Thanks for filling out more of the picture.
tiny bit more about "Huckster"
from
http://www.popmatters.com/pm/news/article/10580/jeremy-piven-finally-makes-it-but-fame-brings-its-ow...
Now that the wandering appears to be over—as signified, appropriately enough, by his arrival in the promised land of Buddy Israel—Piven has partnered up with an old Evanston acting pal named Leelai Demoz to form a production company called Luscious Mayhem.
They’ve already produced a documentary called “Jeremy Piven’s Journey of a Lifetime” (he goes to India), and are in negotiations to turn the concept of celebrities on trips into a series for the Travel Channel. MTV is interested in a nonscripted show they’ve been shaping. “And we also have several films that we’re developing,” says Demoz. “We’ve got a really exciting project that we’re working on with (Marvel comics genius) Stan Lee.” Called “Huckster,” it considers the “world of politics and p.r.” Meanwhile, Piven’s written a film script. Stardom is about choices.
Question: I noticed the consulting firm Fmcoco has or will have 1,150,000 shares. I’m trying to find out if Stan Medley who runs Fmcoco is the same person as Stan R Medley who was involved in a shell company fraud scheme in ’06. I’ve made some inquiries but I thought someone out there might know. The more I learn about Pink sheet land the more sleazy it looks, I think the new categories are helpful but I would rather the whole system be revamped with a higher standard.
Amazon has a new movie rental download system called Unbox. Mosaic and Condor were prominently featured on a ‘what’s new’ type page.
Pow doesn’t report anything. This SEC link refers to Stan’s last company that went bankrupt. Some of the Stan Lee Media share holders got together and are trying to assert that the company’s Rights Assignment is still in full force and effect. Stan Lee Media (without stan’s endorsement) is suing both Pow Entertainment and Marvel. Marvel’s take is that the shareholder meeting and attempt resurrect Stan Lee media wasn’t valid. The lawsuit against pown claims that assets were improperly moved to the new company QED/POWN during the bankruptcy. I periodically check on these lawsuits but I am by no means a legal expert. I'm very interested in how this will turn out and the speculation on POWN stock. The dockets are as follows if you are interested.
California Central district Court
2:07-cv-00225
2:07-cv-04438
New York Southern district Court
1:07-cv-02238
re: "Technical Analysis says so"
Hi. Which indicators are you basing this on? I'm a new student to TA. Is it possible to have good TA on such low volume? PPS is below a downtrending 50dma but it also looks oversold. I keep a lookout and some dry powder ready for some juicy news because I would love to flip this for 50% or more.
On the other hand Stripperella was hilarious, saw some of it on youtube. I'm considering getting the dvd from Amazon. I'm still not putting anymore $$ into POWN at this time but that was a fun show.
You really don’t know why it’s trading so low? This company has yet to prove itself, especially after what happened to Stan’s last company. There were shady dealings with Stan Lee Media and questionable actions with the founding of POWN. There is a history of bad business here and the company is far from transparent. Also plenty of pown projects have been failures. Look at the reviews for “Light speed” or “Harpies.” This blind optimism is unsettling. There’s nothing wrong with risking your hard earned money if you see potential but at least know what you’re getting into. The Disney deal was the first sign that maybe they are turning things around but there is still a pending law suit and no public disclosure of financials.
10:19AM Luminent Mortgage Capital halted news pending. . .
Another Extension of time granted. Quite the learning experience. Now I know how to navigate pacer. Guess I'll check back in October.
UNITED STATES OF AMERICA :
v. : CRIMINAL NO.: 07-375-02
RUTH LANE :
DEFENDANT’S UNOPPOSED MOTION FOR CONTINUANCE OF
TRIAL AND FOR AN EXTENSION OF TIME TO FILE MOTIONS
AND NOW comes Ruth Lane, by and through her attorney, Catherine C. Henry, Assistant
Federal Defender, Federal Community Defender Office for the Eastern District of Pennsylvania,
Defender Association of Philadelphia, Federal Court Division, and respectfully requests a
continuance of trial and extension of time to file motions in the above captioned case. As
grounds it is stated:
1. On July 12, 2007, a Superseding Indictment was filed against Ruth Lane, charging
her with obstruction of an agency proceeding and aiding and abetting, in violation of 18 U.S.C.
§§ 1519 and 2 (Count Two) and false statements, in violation of 18 U.S.C. § 1001(a)(2) (Count
Five).
2. The Office of the Federal Public Defender was appointed to represent Ms. Lane
on July 13, 2007.
3. Ms. Lane was arraigned and entered a plea of not guilty on July 13, 2007.
4. On July 18, 2007, defense counsel requested discovery from the
government. Discovery has not yet been received. Defense counsel respectfully requests
additional time to determine what, if any, pretrial motions are appropriate in this matter and to
prepare such motions.
5. Once discovery is received, defense counsel needs adequate time to review
Case 2:07-cr-00375-NS Document 34 Filed 08/02/2007 Page 2 of 4
2
discovery with Ms. Lane, and to conduct appropriate investigation and legal research. This could
result in a possible non-trial disposition.
6. Under the Speedy Trial Rule, Title 18 U.S.C. §§ 3161(h)(8)(A), (B) and (C), the
period of delay resulting from a continuance is excludable where granting the continuance serves
the ends of justice and outweighs the best interest of the public and the defendant in a speedy
trial. Defense counsel agrees that all time until the next trial date would be excludable if the
Court grants the instant motion.
7. Failure to grant this request for a continuance would result in a miscarriage of
justice, 18 U.S.C. § 3161(h)(8)(B)(1).
8. Failure to grant the continuance would deny counsel for the defendant the
reasonable time necessary for preparing effectively to represent this defendant in this matter.
9. Counsel has spoken with her client and, pursuant to 18 U.S.C. § 3161(h)(8)(A),
Ms. Lane hereby waives her rights under the Speedy Trial Act.
10. Ms. Lane agrees with the request to continue the trial.
11. Moreover, Leo Tsao, the assigned Assistant United States Attorney, does
not oppose the instant motion.
WHEREFORE, for the reasons cited and in the interests of justice, Ruth Lane,
respectfully requests that this Court grant the instant motion.
Respectfully submitted,
CATHERINE C. HENRY
Assistant Federal Defender
I thought Pown only has 5 employees. I got that from an interview with stan but can't find it now. Let you know if I find it. Anyone else know? I'm guessing they outsource the animation.
a resolution to some of these lawsuits would sure help, especially the alleged illegalities in bankruptcy transfers.
I agree there are plenty of reasons to keep an eye on this one. But when the share price is this low I just try to find out reasons why. No financials to speak of and the failure of “Stan Lee Media” are good reasons for caution in my book. And I’m sure there are plenty of other factors I’m not even considering (i.e. Stan Lee Media wasn’t alone in failing during the dot.com crash) The Disney “First Look” deal is a step toward gaining confidence and the higher moving averages reflect it. I don’t think it’s a simple matter of people not knowing about the stock. If they became fully reporting with attract a different kind of investor who won’t touch it at this time. Completely knowing anyone’s true intentions is beyond my ability, that’s why I like to see numbers. I sincerely hope your confidence pays off I’m just choosing to try and see both sides.
There are plenty of good reasons why the PPS is where it is. The main one is that there is no reporting of any kind, at least none that I have found. Most investors won’t touch a company without some kind of financial reporting. Even some of the most questionable pinks have something on the SEC site. Anybody have any source for numbers please share. Also I’m sure plenty of people were burned on Stan’s last company Stan Lee Media that went bankrupt. Stan Lee Media (which Stan is no longer a part of) is suing Marvel for billions saying Stan signed over half of his interests in the marvel characters he created; interesting reading. Stan clearly needs trustworthy people handling the business and legal side of things. There are plenty of good reasons to be skeptical.
On the plus side POWN has the brand recognition of the Stan Lee name and this is what most people are betting on. Who wants to be a Super Hero got another season. Products are out there and visible. I saw a display at Borders Books called “From the mind of Stan Lee” and among his marvel creations was a Mosaic DVD. Clearly they are able to produce so hopefully more than one project will take off and get some momentum going.