I never said sell at 60 cents, nor did I say buy at 60 cents. There was no advice. I write about what the company is doing. You have a reading comprehension problem. But you're making money. In the end, that's what matters. Good for you. Have a good one and lock those profits.
You said, "Once we push through $1.60, it looks like blue skies!"
It went over 1.60 SEVEN times today and did not go higher. That makes you wrong seven times in one day. That's quite a feat.
Yup. Those who "invested" in Majesco by giving them $5M will earn about a 300% return. And the common shareholder will get diluted as a thank you. No arrests will be made because that's how the game is played, folks.
Because I know the facts, I don't want to hold this when the rug is pulled out. Don't forget to lock your profits.
I am stating fact. And it's at the price it was at a couple of weeks ago.
And they still aren't making any games. That's also a fact.
"(based on 10,229,652 shares of common stock outstanding as of June 2, 2015)"
That's way up from just a couple of months ago. More to come too as the big holders sell off their converted warrants and preferred shares - also in a recent SEC filing.
PLUS, shareholders are about to approve 5 MILLION more shares to dilute the amount of outstanding shares.
Majesco may see near 20 Million+ shares at least in the next few months. Big time dilution.
And it has nothing to do with Majesco:
"On June 10, 2015, publisher Devolver Digital announced Shadow Warrior 2, a sequel to the game. It is currently in development by Flying Wild Hog. An announcement trailer soon followed, confirming the game for Microsoft Windows, OS X, Linux, PlayStation 4 and Xbox One to be released in 2016."
Remember, Majesco doesn't have any developers anymore and sold off its retail distribution part of the business. So this is not Majesco news at all.
Barry Honig numbers:
Prior to offering - 481k shares
After offering - 4.7 million shares
Total shares owned after completion of offering - 287k shares
As you can see from the SEC filing on the seventeenth, they are diluting the outstanding shares by many millions and after that, all insiders are selling out with exception of a couple that will each have under five percent of the outstanding shares.
150 million would mean they need to be in straight jackets. They have to look at the current value of the business as well. If a product is good but the business is not, no one is going to pay full value for the product. They should be happy in the 25-50 million range if they get that. Even then, that is a huge upswing from the current value of the company.
3 months before defaulting on their loans:
"Following all of these recent actions, we believe THQ is well positioned to return to profitability and to create shareholder value. As we've said, our strategy is to develop and market high-demand core games with a significant digital component. These connected experiences are integral to increasing customer engagement, retention and monetization in our increasingly digital future."
This language should sound familiar to Majesco fans.
I wonder what their asking price is. They have their perceived value, but I'm wondering what they are telling others as to the overall buying price. IT must be insane if no one is even coming to the table.
More and more dilution to shareholders. At some point Majesco needs to be sued. Take a look at the preferred C's in this statement. That's a Outstanding share BOMB that is going to drop:
"On June 9. 2015, the Company exchanged 588,751 shares of its Common Stock, previously issued in the Private Placement for 5,887.51 Preferred C Shares in reliance on the exemption provided by Section 3(a)(9) of the Securities Act. Accordingly, in connection with the Private Placement, the Company issued the Units, consisting of a total of 1,631,984 Shares, 25,763.53 Preferred C Shares and 4,208,337 Warrants..."
About 26 MILLION Preferred C Shares. And of course, there is the almost 6 million in shares and warrants as well. Sheesh!
You can go to the MEDL website and look for investor relations. There should be a place to sign up for alerts.
Topics to be covered during the Roundtable Discussion include:
- An update on MEDL business;
- An update on the status of MEDL's LOI with BBK;
- New key hires for both MEDL and Hang w/;
- An overview of the Live-Streaming industry;
- Key Performance Indicators and Key Events.
The top two will be of great interest. The third is middle ground news and the bottom two may just be smoke and mirrors. Hopefully Dave doesn't rap.