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Toxic Avenger

11/28/17 1:43 PM

#36218 RE: game king #36214

It's impossible to predict specific time periods, but I have seen no indication that the long term prognosis is no better than when the stock was at a penny.
PNTV is great at telling stories.
When I first came across them, it was that the stock was being naked shorted and that if ihub investors "locked the float", shorts would be forced to cover and send the price soaring. It was of course all BS.
Then it became all about the "platform". How it would revolutionize TV ads. How Comcast was chomping at the bit to get it. They it got delayed, and delayed and delayed, and when it launched, they had virtually no content (content costs money) and no revenues.
Then they were going to get rich by suing Comcast (left off was the fact that at that point, Comcast was their only potential revenue source). Now that's over and it looks like no money being paid to PNTV, given the fact that they just borrowed $300k from Black Mountain Equities.

Now of course it's the MJ biz, which despite what the company might like to project, is not a license to print money. It's a risky business with a lot of competition that is better funded. It still has banking issues and the feds can shut it down at any time.

Meanwhile, expenses and losses are at all time highs with no revenues in sight. Working capital, which was -$800k at the start of the year is now at negative $2.5 million. There are many in the money warrants and still a lot of convertible debt.

So, not a long term buy and hold in my opinion. If I believed in shorting penny stocks, PNTV would be at the top of my list, however, the price is too easily manipulated for that.