Friday, February 16, 2018 8:51:19 AM
The problem is that if CMGO has any hope to recover $20 million, they need to demonstrate and show how that amount of damages are there.
While sometimes there is a delay because until the plaintiff has finished discovery they can't total their damages but here it looks like there is only maybe a few hundred thousand or so that I can see.
CMGO apparently tried (or did?) issue a series A preferred that would have a claim on the $20 million amount, but no where, so far, can I see what backs up an amount anywhere near that.
As far as GMER value to CMGO (CMGO has a controlling interest in GMER), GMER revenue does not even cover its cost of revenue; i.e. the more revenue it has, the more it loses. In effect, for every one dollar in revenue, it costs them more than that; and that is before the SG&A or depreciation.
GMER report for quarter ending Sept 30 2017
So in summary, the two assets CMGO has are:
1: A lawsuit that may have some value but probably no where near $20 million; maybe several hundred thousand at best, from what I can find so far.
2: A controlling interest in another company that has negative gross margins and looks like it will never be able to make any money, ever.
On top of that, the company appears to have no CPA firm working on bringing the SEC reports up to date, so it can't file any more quarterly reports.
If anything, it looks like to me CMGO may never file any more quarterly reports and eventually just stop trading after a while of not filing reports.
Louis J. Desy Jr.
Recent CMGO News
- Form 10-Q/A - Quarterly report [Sections 13 or 15(d)]: [Amend] • Edgar (US Regulatory) • 11/17/2023 02:59:10 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/14/2023 09:02:08 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/15/2023 08:05:48 PM
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