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paulbk

10/11/13 10:16 AM

#38764 RE: chiefwiggim24 #38763

Don't understand why you guys are saying there's no preferred...
here's 42 million preferred.

"On December 31,2012, the Issuer entered into a Merger Agreement and on March 31, 2013, the merger closed whereby the Issuer issued 42,942,000 preferred shares for all the assets and liabilities of Rangemore Productions Corp. "

We still don't know what the conversion rate is for this issue because filings at this level are incomplete. It's certain that it is not a one to one conversion. The other interesting item in this declaration is that they issued these shares for the assets of "Rangemore Productions Corp".
Rangemore Productions Corp was Paul Mullins and the Island Film Studio now called Mountain View Media Village and still operated by Paul Mullins as far as I know. Mullins was initially credited as CEO of Rangemore Film Productions and issued the PR about the bone headed and since forgotten auction TV show. Shortly after that there was the Dom Hemmingway PR in which he was not referred to at all. After that PR, Mullins seemed to be operating the studio on his own and was calling it
Mountain View Media Village. The production "The Christmas Candle" shot at the studio for two months and no mention of that fact was ever made by the Smith and company. Shortly after that discrepancy was pointed out on this board a series of emails to various posters here revealed that the Rangemore deal was over. One email alluded to a lawsuit with
someone connected with Island.

So what became of those preferred shares? Are we left to conclude these preferred shares are in the hands of an entity hostile to Rangemore?
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paulbk

10/11/13 11:35 AM

#38766 RE: chiefwiggim24 #38763

Another calculation that winds up being significant at .0002 is the debt owed to company officers. It's been pointed out that they are apparently funding much of what goes here on out of their own pocket and that figure according to the last filing is north of 151K. At .0002 that converts to 755 million shares. It's unclear when, how and even if they will ever
convert that debt to equity. You could not say for sure that they will but since no one has said in a filing that they won't convert at these levels, it has to be taken into account and converted at current market value. One more uncertainty added to a host of others.