Platinum Studios (PDOS)

[TSMoney]

Let me see, where shall I start?

PDOS bought Wowio Penn for $3,150,000. It was made in three equal payments of common stock. There was also a possible of $600,000 in milestone payments for 18 months following the closing date that PDOS could owe the former members of Wowio.

http://www.sec.gov/Archives/edgar/data/1410132/000114420408040230/v120043_8k.htm

PDOS sold Wowio Penn to BA (who is sole owner of Wowio Texas) for $3,150,000. The payment was made by Wowio Texas in the following manner:
(1) Assumption of Platinum debt of $1,068,288.
(2) Acknowledgement of existing Wowio Penn debt of $567,760.
(3) 20% of gross revenues from Wowio Penn paid as royalties up to $1,513,936.

http://www.sec.gov/Archives/edgar/data/1410132/000114090509000086/platinumwowio8kfinal.htm

Notice that NO STOCK WAS ISSUED IN THE SALE. I’m not sure what your problem is with this arrangement. The base price for the purchase and sale of Wowio Penn was the same. FACT. One could make a pretty solid argument that this actually is a good deal for PDOS since they get 10% of Wowio Penn’s gross revenues in perpetuity after the $1,513,936 is paid back.

You also seem fascinated with how many shares BA owns. The 2010 10K is the latest report I’ve seen with this information (see page 43 and 44):

http://www.sec.gov/Archives/edgar/data/1410132/000114090511000033/pdos10k2010.htm

He may have up to 20M shares, but it’s unknown whether he has exercised the 8M in options. Could he be dumping some of these shares into the run? Sure. Does anyone know for sure? Absolutely not. I’m personally not overly concerned about 20M shares when the company that has over 300M shares outstanding. Maybe if you’re so worried about this possibility you should invest elsewhere and stop wasting your time posting on this board. Somehow I doubt that will happen though. Lol.