Monday, November 01, 2021 7:45:59 PM
First, a recap on the reverse merger happening from our PR: "AVNI is in discussions to acquire Filmon.TV Networks Inc. (“Filmon”), whose assets include an extensive film library and multi-media entertainment platform controlled by Alki David, and owned by FOTV Media Networks Inc."
According to this article, FOTV was trying to do an IPO 4 years ago to the day almost.
https://labusinessjournal.com/news/2016/nov/04/bigger-picture/
From what I can tell, it was supposed to trade under FOTV, but it appears like it never happened to my understanding. This could be a different avenue to do the same, but it now seems to include SwissX and a little different. It's like a different strategy emerged.
Perhaps this excerpt explains part of the reason(s):
1. Paxton noted that FOTV could have problems raising money because David’s personality and antics – he is a regular and irreverent poster of home videos to YouTube – appear to outshine the company.
I can definitely relate to that! Talk about an eyesore, which I've only been saying all month. I wish he would grow up. But on the bright side, he's been pouring money into his projects:
1. To sustain the media firm’s operations, David said he has invested $65 million. SEC filings show that in the quarter ended March 31, he put $5 million into the business, on top of contributions of $16 million last year and $12 million in 2014
MY COMMENTARY: Good! Because If I'm going to put down $5,000 of my hard earned money, I want to see a billionaire put down millions more. At least FOTV had revenues, but I don't know how much of that is the part of the busines we are getting as noted:
The firm generated revenue last year of $13.1 million, which came almost entirely from preroll ads
A few million for a penny stock, rather than the intended IPO on Nasdaq, sounds like a good deal to me. Even though it's an eyesore. I'd rather watch OZARK. Or Game of Thrones, which I'm currently watching. I would think we get at least a few million of that, if not a lot more. No idea what the final capital structure would look like though, of course.
Just to highlight some excerpts about the FILMON part of the business:
FilmOn also wants to scale by licensing its platform and relicensing content to more than 10,000 affiliates. For example, the app MobiTV, developed by Israeli firm Undertap, is a rebranded version of the FilmOn mobile platform. FilmOn also struck a deal with Beijing-based Lenovo Group Ltd. to preload FilmOn’s app on more than 19 million personal and tablet computers.
Maybe that will be part of our plan. Including all this SwissX and the AI and Wellness whatever. It's sounds very confusing and my head is spinning already. But, it's legitimate it seems and real. Obnoxious and ostentatious. But real.
Our PR in the above excerpt also vaguely mentions an "extensive film library" we are getting. Would that be this, elaborated on a little more in the link:
The firm owns 27,000 titles and licenses more than 340,000 others, including a trove of B movies and old westerns as well as some 3,500 podcasts.
Recent AVNI News
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