"received more than $600,000 in funding to date from Spire Investment Group. The funding has been primarily used to pay for programming, an endorsement deal with a soon to be disclosed premier music industry artist, as well as for a six month promotional campaign being provided by Mpower Entertainment for their Flagship site MusicMatrix.com."
There is another $300,000 pmt coming to them this mid June which puts them at almost a million to pay for this website and costs. They have not even paid for a "industry artist" yet which was incorporated into their budget. My guess is they will use the funds from the next $300,000 to finish the deal as they were shy in their initial bids and are waiting for the next funding payment. Notice we are now being promised the artist before the end of june after their next payment.
If they announced the endorcement last month and paid more than their inital offer for them, then I would have to raise the question, "where did the money come from?" To be clear, these are "restricted shares" here that cannot be liquidated without a proper filing. You are speculating without evidence. Has the company EVER done anything illegal or shady yet? I would point to no, everything has been by the book and have been clear that they are doing everything by the book.
As a side note I would not be surprised if lady gaga or BEP or another artist is signed but at more than what was initally offered back in may and this is the reason WHY we never got the artist when they origionally had planned.
IMO The company doesn't need to dilute as they have funding agreements in place to run and operate their company and are following their budget. WHY would they need to break the law to raise funds?
These are just traders. This is a very easy stock to flip and buying in the 40's and selling in the 60's I am sure is being done by a lot of people. Until we break that trend we will contine to consolidate/channel in that range and this is normal trading activity.
Thanks for the conspiracy theory though.
