Replies to post #16394 on Idle Media Inc (IDLM)

[Uglytuco]

IDLM has no warrants Turner. No forms filed means these are not shares from Frasier or Haddock. Sawarynski is the only one that could sell 4M shares.

[wadirum1]

This is AMAZING news!! CHA-CHING!!!

Hopefully we won't hear any more griping about shares for a while.

And Turner...seriously? You think Frasier would sell 4mm shares for $200K in exchange for the option to buy 6mm for $7mm? Come on, Turner. You're a clever guy. Sure, I'd love for that to be true -- it would mean that Frasier's the nicest guy since Santa.

If it isn't Frasier, then it has to be from the Sawarynski block of restricted shares. Noboby else had that many.

So, how many did Sawarynski have? According to the merger document (May 2010), Sawarynski held 5,425,000 shares of restricted stock and 575,000 unrestricted shares. I don't know if he actually held these or just said he did in the SEC merger filing. The shell guys were, shall we say, an *interesting* crew. But anyway today's 8-k leaves 1,425,000 restricted shares unaccounted for (the unrestricted shares were probably sold a long time ago and have always been in the float count).

This remaining block I find very interesting. Clearly IDLM had some leverage on the holder of these 4mm Sawarynski shares in order to get them to sell at 5c apiece. Do they have the same leverage over the holder of the 1,425,000? Are we going to see another similar 8-k soon?

I keep telling you all: good things come to those who are patient here. This is a real company, but it is also small. Things take time. But from what I can tell we are very much heading in the right direction.

Wadi