It is one misleading act after another...can't call it blatant lies because people like Steve Haag are professionals and he knows exactly what he is doing.
He knew exactly what would happen to the share price when he patted Prakash on the back shoulder and said "trust me this financing is good for the company. My friends will take care of everything!"
Steve Haag laughed all the way to his hidden safe in the floor of his storage room where he then unloaded wads of cash given to him by the note holders! The success story of a stinky pinky. LOL
You all can make every excuse you want about the financing...about the economy....about the convertibles....whatever the hell you want to make an excuse for as far as TIVU is concerned.
This company was sold out because of greed! Bottom line is because of greed!
Been around too long to keep believing the crap posted here that Haag is a good guy....that TIVU cares about we shareholders....that TIVU was a casualty of the economy. BS! It doesn't take a genius to see that this company was sold out as if it was a company full of fluff...full of nothing but hype and fancy words.
NO company that has a superior product which just happens to be in the right industry at the right time in history.....has less than 25 million outstanding shares....has a signed contract, a MOU and connections with the likes of Host Hotels and the Marriott name should have been FORCED to sign a financing agreement which has decimated the share price to less than 3/4 of a damn penny...and still going down! An agreement with no floor and one that gives the note holders a 40-70% DISCOUNT to whatever price they convert shares.
It MEANS that if the note holders converted shares at one penny then they could sell those shares at a price that is 30 to 59% LOWER than what they converted at AND STILL MAKE A PROFIT!
So....they could covert at .01 and sell at .004 and break even!
DOES THAT SOUND LIKE AN AGREEMENT THAT A COMPANY WHICH HAD A LOW FLOAT...SIGNED AGREEMENTS AND CONTRACTS AND RELATIONSHIPS WITH THE BIGGEST NAMES IN THEIR INDUSTRY SHOULD HAVE BEEN FORCED TO ACCEPT?
Absolutely NOT! They were NOT forced...they chose to sign the finance agreement.
The result of that finance agreement was expected...desired...and has benefited EXACTLY who it was meant to! Certainly not you and I or any other person who thought they were INVESTING in a stand-up comapny. This is Stinky Pinky land and TIVU fits right in!
It is time to trade this POS....investing in it is a losing venture, at least until TIVU backs up what it says and becomes a company that believes in total disclosure.