I personally don't care about much of that. You know more than anyone that 95% of these penny stocks are either full out scams or just vehicles to dump shares. IFLM was at the bottom of of the bottom of that 95%. IFLM was about as close to being delisted as could be. And its a shell with a big OS, no real biz, and lots of debt. I have always thought you are a great asset to these boards, although I don't think anyone isn't aware of the risks involved in buying a stock like that. :)
I just think in this case, where you have a person buying on the open market like he is (for reasons only he knows), where you have a CEO who is resisting that (for some ungodly reason) and the weirdness surrounding this all?
I think it makes for a very unique situation very rarely seen on the otc, and one that could get very very explosive.
A shell can be bought for as cheaply as $50 K but Jake is willing to spend $100s of thousands or more for IFLM. Jeff Ritchie is not a wealthy man and complained to me endlessly 5 years ago about the expense of keeping IFLM going, which he ended up not doing anyway. But here you have a young multi millionaire already spending a huge amount in a hostile takeover, and will have to spend more, to try and gain control of IFLM, and you have the ceo trying to maintain control of a company that on the outside looks like it is worth negative value.
None of it makes any sense.
As I have talked about before, there is either something that IFLM has that is keeping these parties interested, or it is a revenge takeover deal going back to the failed hotel/resort that I helped with 5 years ago along with the Bio meds guy. He happens to have a strong interest in movies, is wealthy, VERY well connected in Hollywood, and was upset at how the hotel deal failed.
We shall see but I see little to no risk here as I said above. The gains though could be huge.
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