Singing Machine Company Inc (MICS)

[NobleRoman]

Wow. Unbelievable! That might explain why the stock was trading low, in fact. Looks like they were buying and selling. Trading our stock, accounting for lots of the volume.

But I'm seeing a lot more buying as of 6-2-22. Like 1 million shares on the net from that company. On a glance, NILE is a bitcoin company. So that's illogical to me on a surface understanding.

Just some skimming:

As of the close of business on June 13, 2022, BitNile Holdings, Inc. may be deemed to beneficially own 1,405,000 Shares, consisting of Shares held by Digital Power Lending, LLC.

That's 50% of our OS. And Stingray is 24%. 75% just with those two if I understand correctly. Is this a hostile takeover? That's literally 50% of our entire OS from the latest filings. Unless there were some warrants exercised at lower anti-dillutive-adjusted prices that I'm kinda in the dark about. Our float must be evaporating, which may explain why we are floating in chaotic moarkets like a hot air balloon. I see that we broke $7 in after market today...

Wait, according to this Form 4 if I understand correctly, The trading stops 2 days ago and they build up a massive war chest in just 5 days. Was this a sneak attack, hostile takeover? I've never seen anything like this. Or am I confused?

https://seekingalpha.com/filing/6513238

I'm not sure how that fits into their strategy:

BitNile Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, BitNile Holdings owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. The principal business of Digital Power Lending, LLC is investing in securities. The principal occupation of Mr. Ault is serving as the Executive Chairman of BitNile Holdings, Inc.

We are Karaoke and not disruptive technology. But I guess Digital Power Lending is more vague: "Investing in securities." Not really sure what to make of this. I'm speechless! I"m not complainign though. I actually like this.