Fund.com Inc (FNDM)

[KDAWGFARM]

https://www.fndmreceivership.com/uploads/2/6/7/4/26748813/fund---motion-to-discontinue-10-16-18.pdf


10. The Receiver recognizes doing so would require that the Company’s
SEC filings be brought up to date and that a Form 10 (a so-called “Super 10-K”) be filed, covering multiple years of missed SEC filings. Towards that end, the Receiver contemplates engaging, on discontinuance of this receivership proceeding, corporate and securities counsel to bring the Company into compliance with SEC and state law disclosure obligations.

I believe that Thomas is wanting to return the company to good standing with the SEC and Delaware, which would require the company to file financial reports that would more than likely show the proceeds from the sale. When will this happen? Nobody knows. It was listed for $2.5 million and the mediaoptions fee is, I believe, 15% commission.

At $2 million sale price you are looking at proceeds of $1.7 million, combined with about $1.6 million from the AdvisorShares settlement so $3.3 million split between about 670,000 shares is $4.92. Add on top of this whatever someone is willing to pay for an SEC compliant cash shell and any NOLs the company may have minus the costs to get the company compliant. Outside of that I don't see any other assets, there should be an annual meeting that takes place within 180 days from when the judge grants the motion to discontinue liquidation.