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Atrinsic inc. (ATRN)

1.042 Posts
Pagina: «« 1 ... 47 48 49 50 51 ... 53 »» | Laatste | Omlaag ↓
  1. welshterrier 5 16 april 2012 12:09
    TO ALL, CLARIFICATION, PLEASE READ ( bron dr Pennystock Ihub)

    Hi all,

    I will try to address all the issues, and, clarify as much as possible what I think about the company, the management, and, the present situation.

    About the company, I still think it is clearly a stock to trade above $1.00, pink sheet or not, based on all the info the company provided before going dark, and, what some members of the management said before.

    About the management, I can't think worse, in a scale of 0 to 5, I give a 0, I explain why.

    The management of a company has a fiduciary duty to all the shareholders, do their best to increase the value of the company, well, what this management has been doing is precisely the opposite, they brought the price from an average of $2.50(let's even forget the spikes to the $6.00 and $7.00 price level), to a .008 price in TWO months, do you think this is 5 stars management?

    Using the total O/S of 87,060,096, the company market cap at $2.5 was $217,650,240, at .008 was $696,480, so they caused a LOSS of $216,953,760 in only TWO months, and, you think these guys are 5 stars management? They brought the value of the company to about only 15% of the value of the annual revenues(about $40,000,000), and, you think these guys are 5 stars management? They can't be worse, these are FACTS, ladies and gentlemen, FACTS, NUMBERS, nobody can deny this. This is CRIMINAL, I repeat, CRIMINAL.

    I will now talk about details, all they did wrong, I will use FACTS.

    1 - They bought Kazaa, this was a disaster, it was not me or you that took this decision, it was the management, the CEO, and, the BOD, they are there precisely to support the CEO, giving him the best advice, well, the advise was very bad, they bought something that caused millions of dollars in losses.

    I don't care about the motive that made them buy Kazaa, what I know as a shareholder, is that this was a very bad decision, this is a FACT, and, THEY took this decision, not ME, this is a FACT.

    2 - Now another bad example of bad management, debt, can someone explain to me why a company that already has about 101,000,000 of AUTHORIZED shares(notice that I wrote authorized in all caps, it means that they have already authorization to use them), and, have only about 7,000,000 shares in the float, borrow money from someone? Why have debt of about $6,000,000, why pay interest, why the need to give power to someone else, through contract, if I can dilute about 3,000,000 shares at 2.5, and, make $7,500,000 in cash? And still have a very low float? Why? Can someone give me a reason to this?

    You don't need to be a CEO of a company to think about this, you have a business, you need $6,000,000, you have 7,000,000 shares in the float, you have 101,000,000 of AUTHORIZED shares, you can sell 3,000,000 in a few days, without causing any down pressure on the stock price, you can make these $6,000,000 without any problem, without incurring in a payment of up to 18% in interest, and, instead of this so easy solution, you borrow money from someone else, making a contract where you give much power to these debtors, even allowing them to SHORT your OWN stock? This makes sense to any of you? To me no, it doesn't make any sense, you give a gun to someone shoot you? These guys did it, Brilliant Digital was allowed to SHORT ATRN, by the management of the company, ladies and gentlemen, this is CRIMINAL, C-R-I-M-I-N-A-L. I never saw something like this in 15 years trading penny stocks, and, I've traded many scams in these years. This is a FACT, period.

    3 - Well, still related to this issue, so instead of selling 3,000,000 shares, they preferred to borrow money from someone else, ok, it was a very bad decision, but, it was done, let's go forward, so as per the contract made between the company, and, the debtor, the company needs to pay this money in several payments of about $1,200,000, what the company does? Instead of prepare themselves several months before to pay this money, once again, they could do this only selling less than 3,000,000 at 2.5, in several days, to not hurt the PPS, and, pay even all the debt at once, and, still having $1,500,000 in cash from the sell of these shares, this is a FACT, they could do this.
  2. welshterrier 5 16 april 2012 12:10
    vervolg

    Ladies and gentlemen, and what they do? They DELIST the company from the NASDAQ, causing a LOSS of $216,953,760 in only TWO months, they DESTROYED the company PPS, this is a FACT, and, who took this BRILLIANT decision? The (5 stars) management of ATRN, not you, not me, THEY took this decision, where is the damn fiduciary duty here? Where is the good management here? They didn't care about the shareholders for sure, this is a FACT.

    Continuing, ok, as a result of this disastrous decision, they needed to give the total control of the company to the debtors, they gave about 69,000,000 shares to them, about 79.25% of the whole company, and, as per the previous contract between the company and the debtors, they were even allowed to SHORT the shares, so it helped to destroy even more the PPS, this is a FACT, this was done by the (5 stars) management, and, this, ladies and gentlemen, this is CRIMINAL, C-R-I-M-I-N-A-L.

    4 - Not happy with all these (great) decisions, they resolved to give bonuses of $200,000 to GoldFarb, and, $35,000 to Fong, to achieve some financial results, says in the Goldfarb contract, what financial results? Destroying the company PPS? Causing a LOSS of $216,953,760 to the shareholders, bringing the value of the company to only $696,480? And still STEAL $200,000 from the company for doing this? You may think, well, he made a contract with the company, you are right, and, who is the company if not themselves? The CEO and the BOD? Who represents the company? So these (5 stars) management gave money to themselves for destroying the company, a BONUS, as they called it in the contract. You have no idea how my stomach is right now, while I write this........

    5 - This is what I found, I thought about hide this for now, but, I can't, this was found last week by a member of my group, I will not say who was, because I don't know if he wants, but, he was the one who paid the $20 to have this document. Well, do you know that ATRN is delinquent in its tax duty?

    Yes, instead of paying the $180,000 in taxes related with the year of 2011, the company is paying bonuses of $200,000 to Goldfarb and $35,000 to Fong. Your stomachs are still ok? You don't feel a strong revolt in your stomachs? You do not feel the need to call names to these guys? To call them what they really are, instead of call them 5 stars management?

    The document says:

    Annual Tax Assessment - $180,000

    Tax Due - $163,928.45

    Last Annual Report Filed - 2011

    Status: AR FILED, TAX DELINQUENT

    Status Date: 01/23/2011

    So, last week, and, as per the status date of 01-23-2011, the company only paid a small part of its taxes, they paid about $16,072 of $180,000, and, again, this is a FACT.

    And instead of following the fiduciary duty of creating value to the shareholders. they are only creating value to their personal bank accounts, they are STEALING money from us, from the company, we are the company this is CRIMINAL, C-R-I-M-I-N-A-L.

    So ladies and gentlemen, after these FACTS, written here in plain black and white, do you still give more time to these guys?

    I don't care if they are billionaires or millionaires, I don't care about their names, I am also a millionaire, I have about $15,000,000 in cash if I wanted to buy the entire 87,000,000 shares of the company, if they were free to buy in the market, I don't want to do this, because I earned this money in these years in the market, I don't want to own a company, I like money, not companies, this is why I am asking for the screenshots, to count the guns, and, do not use this money, but, if needed, I will use it.

    I am only counting the guns, in the case we need to take legal action, I am not idiot, I don't want to hurt myself or anyone, this is a prevention action, in the case we need to take legal action, you are not obligated to send me screenshots with your shares, but, you don't have a second chance in the case we need to take legal action, I will not use my money to pay to one of the best law firms of NYC, and, give it for free to you that do not want to help me now. You are with me or against me, so you know that if you are screwed by these guys, you need to file a lawsuit yourself, with your money, not with mine.

    I don't want to take action now, I will wait until the close of the market on Monday, on Tuesday, I will send an email to the company, and, depending of what they say, I will talk with all the people that sent me the screenshots, and, resolve what we will do.

    They are playing with us, they can post the revenues on ATRN' web site, it doesn't cost them any money, and, it is perfectly legal, so why they don't do this, we are shareholders of the company, WE HAVE RIGHTS, and, this is a pretty basic right, even it they are in negotiations to a buyout, this doesn't hurt anything, so they are INTENTIONALLY hurting us.

    So, I need to clarify, I still prefer not taking any action against the company, but, this company worth much more than $1.00, usually a company like ATRN, on a boom market, is valued at about 5 or 6 times its revenues, so using the $40,000,000 number, it may have a value of $200,000,000 - $240,000,000, and, at $2.5, the price before the delist decision, the company worth was $217,650,240, perfectly inside the fair value, so the market was giving a fair price to ATRN.

    But, I will be happy with a price of somewhere between $1.00 and $1.50.

    So, the only thing that will stop me, and, all the people that is sending me their screenshots right now, of taking legal action, will be the PPS growing every day, I don't even care about the guys, if they BEGIN to do their job, and, this includes to take care of all the shareholders, us.

    If not, I will turn their lives in an hell, if they force me to spend my money in buying 50.1% of the company, and/or paying to attorneys, then, I will prosecute everyone of them for years, until I take from them all they stolen from all the Atrinsic shareholders, I will only stop after they lose their houses, cars, careers, everything, I will make sure they will not have place in any BOD of any company for the rest of their lives, they need to know that they are dealing with someone that knows them very well, and, that has money enough to fight them at the same level, I don't have only $15,000,000, this is what I have now in cash, I have much more, so if they force me to use my hard earned money, I will destroy them, they can be sure of that, and, as I know they monitor this board, they will read this.

    Remember, I will send you an email next Tuesday, Goldfarb and Fong, I will tell you my name.

    To all of you guys, I don't want to hurt anyone of you, it is the opposite, I want to help you, I also want to see ATRN above $1.00 in the short term, and, no need to take any action, this is just to win time, IN the case we need to act against these guys, and, as you can see above, they are intentionally hurting us, do you want to let it happen?

    GLTA
  3. Doniss 16 april 2012 12:22
    Ik blijf het een geschikte vent vinden die Duitser :). Hij verricht erg veel werk en het klopt gewoon wat hij schrijft. Het management laat de aandeelhouder achter in ontwetendheid en wij weten niet waar we aan toe zijn. Ik blijf er wel bij dat Dr Pennystock ook blij is met het feit dat ie 2,8kk stuks op 0,008 heeft kunnen kopen, daar hoor je hem niet over klagen :p
  4. Doniss 23 april 2012 09:08
    Het contract dat ATRN had afgesloten voor de huur van het kantoorpand heeft in 2011 plaats gevonden. Nu blijkt dat ze daar uit zijn terwijl het een 7,5 jarig contract is. De vraag is of ze een ander pand nemen of dat ze daadwerkelijk in een merger verwikkeld zijn.

    More good DD from Kldog:

    yahoo.brand.edgar-online.com/EFX_dll/...

    "GREAT INFO......"Lease was set to expire 9/30/2018"..... This tells me.... that when they signed the lease... in the first quarter of 2011.... they where planning on being there a long time (7 1/2 years). Obviously something happened.... with in this past year.... to make the company drastically want to change plans. And get out of their least 6 1/2 years early.
    And GREAT QUESTION. How much did it cost to opt out early. If its like 500,000-1mill dollars."

    Why would ATRN... want to pay 500,000-1 million... to opt out so early on their lease. After just signing the 7 1/2 year lease, just last year. This is all great new info. That hopefully will be answered this week.
1.042 Posts
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