Replies to post #74487 on Options Media Group Holdings, Inc. (OPMG)

[muckdogstrader]

Thanks HMB2010 I feel the same way...were good...May 1st won't be May Day for us it will be the beginning of the next chapter. This concert is getting so much press already and were still a week and half away. I can already see a story about the dangers of texting and driving on national network tv and then they will show the answer...phoneguard. How many parents in the USA will buy this to protect their children? This will be amazing....just my honest opinion. Were good GO OPMG!

[WickedCamaroSS]

That makes sense. Do they say things like that in the 10k just to cover their asses? just in case things don't work out they can say "hey we said in the 10k this company might not make it". Im still young and somewhat new to Investing (only my second year) so sorry if its a stupid question.

[berdboy]

OPTIONS MEDIA GROUP HOLDINGS INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
(UNAUDITED)

Certain information and disclosures normally included in the notes to the annual consolidated financial statements have been condensed or omitted from these unaudited interim financial statements.

Going Concern

As reflected in the accompanying unaudited consolidated financial statements for the nine months ended September 30, 2011, the Company had a net loss of $11,930,263 and $2,875,389 of net cash used in continuing operations. At September 30, 2011, the Company had a working capital deficit of $4,127,249.The working capital deficit includes a warrant liability of $3,945,689 (see Note 2). Without derivative accounting treatment, our working capital deficit would have been $181,560.

Additionally, at September 30, 2011, the Company had stockholders’ deficit and an accumulated deficit of $2,391,067 and $34,716,330, respectively. These matters and the Company’s expected needs for capital investments and working capital required to support operational growth raise substantial doubt about its ability to continue as a going concern. The Company’s unaudited consolidated financial statements do not include any adjustments to reflect the possible effects on recoverability and classification of assets or the amounts and classification of liabilities that may result from its inability to continue as a going concern.

The Company has financed its working capital and capital expenditure requirements primarily from the sales of common stock; preferred stock; issuances of short-term and long-term debt securities; and sales of advertising, data services, and mobile software. In July 2011, the Company raised $500,000 from private placements of preferred and common stock. The Company continues to aggressively manage its operating expenses.The Company’s growth strategy is focused towards PhoneGuard’s anti-texting Software which is anticipated to generate positive cash flows.

As of September 30, 2011, management believes that the Company will meet its expected needs required to continue as a going concern through September 30, 2012, either through cash generated from operations, cash provided by equity, cash provided by debt, or a combination of each.

[Chugit]

You mean OPMG is still is business. How can that be when it says right there they will be out of business June 30, 2011.

Come on traders think about what is going on here.


WE ARE ROLLING BABY

GO OPMG