I'm here to make money.I lost some money and took the tax loss.I'm back in and adding a little at a time.If thats pumping I don't see it that way because I'm putting my money where my mouth is.All shareholders before the R/S and after got a royal screwing without out a doubt.I'm saying to me the company shares are priced way to low and its market cap of 74,000 is a joke.The issued outstanding shares as of the Dec.18,2007 SEC filing was 34,129,894.That mean the company only increased the shares by 260,000.Everybody including me expected the numer to be at least a 100 million issued and outstanding if not more by now.We all know they reduced the authorized from 25B to 5B.As of the R/S the total OS shares were reduced from 7.6 billion to 7.6 million.Now the company issued 26.5 million shares after the R/S which management received 12.5 million of them.So it seems they sold or placed 14 million shares into someones hands.Even if you take away Mark Christ 571,429 it sill leaves management with 12 million shares or about 39% off all issued OS shares.If you add the 12 million they own and the 14 million I feel they placed into some investors hands that adds up to 26 million shares management owns and private investors.It looks like they control 77% of the total issued and outstanding shares.That only leaves about 7.8 million a float.If the company sold the 14 million on the open market there would still be only about 21 to 22 million share a float.I strongly feel the company placed them into private hands because that was suppose to be the point from the SEC filing to seek shareholder approval by proxy vote.It allowed the company to be able to issue 10 million preferred shares and 100 million series B shares.The R/S occured because management and GGI did not hold enough voting power.GGI could have no more then 9.99% of all OS shaes at any time under the agreement they had in place with the company.Management due to the 7.6 billion outstanding share count only owned a few precent and they new if any company started to seek a buyout or even a hostile bid they would lose the vote without a doubt.All sharesholders wanted changes and management new it.This is exactly why they did the R/S and no doubt placed the issued shares in private hands before the deadline on the proxy.Management new the OS at the close of business on the deadline and they new pretty much what the vote was going to be give or take a few hundred thousand shares.Now if someone want to buy them out they wil talk because the share count is so low and management owns 20 times in percentage terms now that they did before the R/S.If some one was to make a hostile bid with the low float its going to cost them but nothing near what it would have with 7.6 billion shares issued.My point is management new exactly what they were going to do.Yes they shell shocked all with the R/S.After that if you read the SEC filing regarding the proxy vote.Management spelled out exacty what they were going to do and done it.This bunch didn't wake up for the first time today.Now operating GMFX is completely another story all togather.If they would just advertise correctly,add inventory mostly games and slash expense this company has a chance.If they piss capital away and it does nothing for the companies base it just a waste.Maybe since we see some shake up in management things might get better.
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