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Adaptive Medias, Inc. Message Board

  • johntame11 johntame11 Jan 16, 2013 2:11 AM Flag

    HAS CHAIRMAN KASIAN FRANKS LEFT MIMV?

    ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

    On January 11, 2013, Chancellor Group, Inc., a Nevada corporation
    ("Chancellor"), entered into a binding term sheet (subject to closing
    conditions) regarding the establishment of a 61% Chancellor-owned Delaware
    company ("Pimovi") recently formed by Chancellor whose main proposed business
    will be information technology.

    Under the agreement, Chancellor agreed to provide finance of $250,000 over a
    period of approximately eight months in Pimovi, Inc., a newly-formed Delaware
    corporation, in consideration for the receipt of 61% of the equity of Pimovi in
    the form of Series A Preferred Stock. The other party to the term sheet is
    Kasian Franks (the "Co-Founder"), who is to become Chief Scientific Officer of
    Pimovi and contribute certain intellectual property related to its business in
    consideration for receipt of the remaining equity in Pimovi in the form of
    common stock. The Co-Founder will also receive one million shares of
    Chancellor's common stock at closing and be eligible to receive an additional
    one million shares of Chancellor's common stock subject to the achievement of
    certain milestones to be determined.

    The proposed business of Pimovi relates largely to the technology and mobile
    applications fields.

    Pursuant to the term sheet, Chancellor will receive various investor rights with
    respect to its investment in Pimovi, which provisions shall be contained in the
    amended certificate of incorporation of Pimovi and certain shareholder
    agreements, including but not limited to a liquidation preference in the amount
    of its investment, the right to select a majority of Pimovi's board of
    directors, and a right of first refusal to invest in future equity issuances of
    Pimovi.

    The term sheet is binding by its terms but is subject to certain conditions to
    closing, including completion of further legal due diligence and entering into
    definitive agreements with the Co-Investor and Pimovi's employees and
    consultants.

    2

    SIGNATURE

    Pursuant to the requirements of the Securities Exchange Act of 1934, the
    registrant has duly caused this report to be signed on its behalf by the
    undersigned hereunto duly authorized.

    CHANCELLOR GROUP, INC.

    Date: January 15, 2013 By: /s/ Maxwell Grant
    -----------------------------------
    Maxwell Grant
    Chief Executive Officer

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    • Let Me get this straight.

      Mimv, founded by Kasian Franks.
      Years of Energy, Effort, Resources.

      Thousands of hours of Sacrifice.

      Trying to Build up His Company.

      Pouring into Mimv his Blood, Sweat, and Tears!

      Finally making Progress.

      Within the last six months, Mimv has entered into a Partnership
      with Microsoft.

      Mimv has given a presentation at the
      Nasdaq Marketsite, to announce to the Market and Investors, Mimv
      is ready for Buisness!

      Mimv has Finished it's Advanced Search
      App Engine.

      Mimv Mobile App being released on
      Microsoft Phone 8 and now for the Apple Platform.

      Hired Media Veteran Jeff King.
      Partnered with Entrepreneur Media and Mashape.

      Finally closed it's merger with Lone Wolf Inc, for three million less shares than originally agreed to.

      Mimv obviously just completed a new project called Mimv
      Countdown App.

      Franks has taken Mimv from $.05 to .39 in less than a year.

      And someone wants us to believe,

      Quote,

      " Listen, game over for MIMV and its stockholders

      time to pack up the bags and leave, for certainly, MIMV founder Kasian Franks has done that already "

      I am sorry, but does that make sense!

      There is no good, sound, intelligent, possible reason,
      Kasian Franks would leave Mimv!

      There is no Mimv without Franks!

      Could it be, Kasian Franks and his Advanced Personalization Algorithms Technology, is highly sought after.

      I mean, remember, it was Microsoft who first sought out Mimv
      for this very reason.

      People have to realize that Franks and his Team have finally
      built out it's foundation.

      It has completed it's new Advanced Patent Pending Mobile Search
      App Engine.

      Mimv is currently in the process of releasing it on all Major Platforms.

      Mimv has it's Search Services completed and ready to produce.

      Mimvi Echo, Mimvi Connect, and Mimvi Link.

      Mimvi hired Jeff King for VP of Operations and Products.
      Mimv has added to it's workforce, capable Engineers.

      But now he is abandoning ship!
      Franks would never relinquish control or sit back and watch
      others run HIS Company.

      If Franks expands his Portfolio and takes on another Project
      is that cause for alarm.

      I don't see it.

      I think Franks is entitled.
      I think with Mimv's foundation for Success laid,
      Franks has more time, to expand the reach of his Technology.

      I have known several Buisness men, who run multiple Companies.
      It is not unusual to be involved in different Buisness
      Ventures other than your own Company.

      Who is to say this isn't simply setting up for Mimv to aquire
      Chag at a later date.

      Who is to say Franks isn't a longtime friend of Maxwell Grant, Chairman and Chief Executive Officer of Chancellor Group.

      But to spin this as something negative.
      Or Franks is leaving Mimv or just going to work
      part time in Mimv is absolutely insulting the intelligence of all that read on this board!

      Sentiment: Strong Buy

 
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