Your net worth is 0. You just dont realize it because you do not understand liquidity. Try selling your share at market price tomorrow. Watch the price dive past your avg cost. You'd be lucky if you get $20k for your 400,000 shares.
What's the point? Proving malfeasance is near impossible. They can chalk it up to incompetence. And what will the shareholder go after? The assets are negligeable at this juncture.
You took too many trips to Colorado. The evidence of the deception is obvious but you refuse to believe because you have become way too attached. You have become blinded by bias and your mind has become exceedingly efficient at confirmation bias.
The undermining effort has been under way since the beginning. Rush of half finished product, amateurish inventory management, cash waste. It was a concerted effort, evidenced by the weird loan from Prescott and Cleveland. They saw the value in the MLB enforcement and $100m in NOL. They schemed to take full procession. Now they are using the (our) remaining cash to develop a better product. They hired a firm which design for Nike on our dime. Desilva brought in his old boss to benefit.
Foster was part of it or was too incompetent to notice. Mr Emmett saw it and left. Stacey and panko felt wronged and hence the squabble at the meeting and desilva brushing them off.
As you said, the lease is up on corporate. Now they can move the base of operations to Rudds base. All the ducks have been lined up perfectlyperfectly. Now all they need is a restructure and convert the loans to new equity. The current shareholders will be ditched.
Also, your denial confirms the reason for deleting. Your scared and afraid that you're wrong.
On April 2016, you will be eating expired genric cup-o-noodles.
" The Note will immediately become due and payable, at the option of the Holder, upon the occurrence of any event of default, including the failure to pay any amount payable under the Note, the Corporations’s default under certain other debt instruments to which it is a party and specified events in respect of the Corporation’s dissolution, liquidation or bankruptcy.
To induce the Holder to make the loan, and to secure the Borrowers’ obligations under the Note, the Borrowers granted the Holder a security interest in substantially ALL of the Borrowers’ assets, subject to certain exceptions, including any equity interest in Pinwrest. "
-substantially all- -substantially all- -substantially all-
The amount is only enough to sustain wages for the officers for a quarter or two. Rudd will then take ownership through a restructure while preserving NOL for himself. Not bad for $95k.
Deek you screwed up. You lost all your money. Your "friend" who owns much shares as you is gonna be pretty angry. You best that was your last post.
Oh, and you suck at investing.
Oh BTW, NOL will be preserved in a debt for equity restructure. The new owners will get full benefit of the tax benefit.
You and I are getting nothing. Zip.
This pretty much ensures our shares going to zero. They wrote the script already.
$95k "super senior" loan is a joke. Thats not even enough to bring isoblox cap version 2.0 to market. Heck, even a small player like me can give em that. It is simply a place holder for Rudd to get ownership when this restructures.
They have no means of generating cash. Isoblox version 1.0 is on fire sale (but nobody is buying). Even if they bring version 2.0 to market nobody is gonna buy before 2016 little league season which doesn't start until APRIL.
That means it is impossible for them to pay back Rudd by MARCH 2016. Same time Prescott and Cleveland capital loan come due. That means they will file for Chapter 22 by then. The super priority loan along with Prescott/Cleveland loan will convert to new shares. Our shares will be canceled. Perhaps cap version 2.0 will do well, maybe not. Whatever happens, any benefit will go to the new shareholders. You and I get zilch.
Sometimes you have to look down and see what you stepped in.
Sale of the company will nullify NOL (bashing head on table). NOT A GOOD IDEA!
Wilson had isoblox padded catcher stuff for a while. The royalty from that is pittance. STX is skimping on payment and IP. Hence the lawsuit.
should not have been above $20 at the start. $60 was ridiculous.
DIscussion was held at shareholder meeting regarding unsold inventory. I wonder what came of it.
Deek was at the shareholder meeting, or at least he claimed that an acquaintence was at the meeting. The fool is assuming that none of the posters went and is hoping that we are none the wiser.
Truth be told, DeSilva mentioned that Rudd felt uncomfortable in alienating the other shareholders with the warrants. Desilva said that Rudd may submit a letter in the coming days after the meeting which lay intention of foregoing the warrants. An 8-k was to be filed on receipt of that letter. We are now over a month since the meeting. Something happened. Perhaps he thought pointless. Perhaps he is trying to keep desilva in directorship. Who knows.
Anyhow Deek is hoping our ignorance will make him look like he has influence on the company from a defunct message board. What an...
My mentioning of him pumping this stock on other message board probably did it. He was so ready to cast the blame on management for their "inside dealings" that he forgot that he may be partly to blame for other investor loss. Doh!
8k out. Desilva to submit resignation. Remaining board may or may not accept.
Shareholder discontent at Dilutive equity raise notwithstanding, they are already operating w skeleton crew. The fate of this co is set already. Might as well meet it with all hands on deck. His elimination alters it for worse.
Take a well deserved rest, Deek!
So... tell me again, what is it that you accomplished?
And what is it that Rudd will buy with $1/share?
We got a modern day Don Quixote here.
And posting in a defunct message board to express your anger at management is ineffectual. Like I said, tempest in a teapot.
On a side note, Dan Jennings is wearing head protection. He is using a competing product, not isoblox.
....a tempest in a teapot.
Think critically Deek.
Had this turned out well, who would you have credited the most?
Now, did that person receive any criticism in any of your posts?
Think about it. You went as far as going to other message boards to sell your thesis on kideq. Which BTW is how I ended up with this excrement.
This is done. Now that I think about it, even if a great new product can be launched, meaningful sale cannot happen until next spring. Unfortunately the Notes come due in March 2016.
Only other possibility is for forbearance (maybe Prescott and Cleveland will grant it for making a mess of things) or a cash infusion via a joint partnership.