posted
Where? They continue to add acquisitions and profits. Not just projected, but current. Subsidiaries are obtaining contracts. Where do you see red flags? Not bashing you, I'm just curious.
-------------------- I have taken a vow of poverty, so if you want to irritate me, send money.
IP: Logged |
posted
Now, now. Let him explain. OSU, remember... you're surrounded with long-term buyers... not short term buyers. So, prepare to defend yourself against an impervious crowd
IP: Logged |
posted
i wonder if this guy is Justlooking from rb...he did the same things..lot of red flags. then he said wait until 4:30 and I will post them and he never did....alot of info to show....I have been through this stock many times. The only red flag would be the cd's but even that can be overcome....
IP: Logged |
posted
I think this pr got looked over...This was not a revenure pr..this pr announced that IMG landed a new contract.....and the company is pretty big...
IP: Logged |
This company caught my attention about a month ago but after reading the last 10Q and 8K I decided it was not a smart decision.
This is why (from last 10Q)
On January 24, 2005, the Company entered into a Securities Purchase Agreement with AJW Offshore, Ltd., AJW Qualified Partners, LLC, AJW Partners, LLC and New Millennium Capital Partners II, LLC for the sale of (i) $2,000,000 in secured convertible notes
The secured convertible notes bear interest at 8%, mature two years from the date of issuance, and are convertible into Modern common stock, at the investors' option, at the lower of $0.44 or 40% of the average of the three lowest intraday trading prices for the common stock on the Over-The-Counter Bulletin Board for the 20 trading days before but not including the conversion date.
So the $2,000,000 could be converted at 40% of .03 which is .012. When you do the math the equates to about 167 MILLION SHARES
Also in the 10Q
To obtain funding for our ongoing operations, we entered into a Securities Purchase Agreement with four accredited investors on January 24, 2005 for the sale of (ii) 1,500 shares of series A convertible preferred stock at $1,000 per share
Each share of series A convertible preferred stock is convertible into $1,000 of our common stock, at 85% of the average of the three lowest intraday trading prices for the common stock on a principal market for the 20 trading days before but not including the conversion date.
So the 1500 series A stock equal $1,500,000 when converted at 85% of .03 (.0255) you get about 59 MILLION SHARES
Also in the 10Q
On January 24, 2005, we utilized $1.5 million of financing we received from four institutional investors to purchase a $1.5 million convertible debenture in DeMarco Energy Systems of America, Inc. Anthony K. Welch, our Chief Executive Officer and majority shareholder, is the Chief Executive Officer and Chairman of the Board of Directors of DeMarco Energy Systems.
Can you say conflict on interest? How much is this guy getting paid at his other company? It is a PINK so no filings!!!
Last financing news
Modern Technology Corp (OTC BB: MOTG), a diversified technology development and acquisition company, announced today it has entered into an agreement with four institutional investors, who shall provide MOTG with $700,000 in financing through the sale of $700,000 in 9% Senior Secured Convertible Redeemable Notes and Warrants.
You can assume the same conversion as the last one convertible into Modern common stock at 40% of the average of the three lowest intraday trading prices for the common stock on the Over-The-Counter Bulletin Board for the 20 trading days before but not including the conversion date.
So the $700,000 could be converted at 40% of .03 which is .012. When you do the math the equates to about 58 MILLION SHARES
Now the last 8K
On December 20, 2005, the Company entered into and completed a Stock Purchase Agreement (the "Agreement") with David Weiss and Andrew Perlmutter ("Sellers"). Under the terms of the Agreement, the Company purchased 51% of the issued and outstanding shares of InMarketing Group, Inc. Under the terms of the Agreement, the Company paid to Sellers $1,000,000 in cash, and $1,210,000 in the form of Series B Convertible stock of the Company.
Lets assume the Series B convert into stock just like the series A. Each share of series A convertible preferred stock is convertible into $1,000 of our common stock, at 85% of the average of the three lowest intraday trading prices for the common stock on a principal market for the 20 trading days before but not including the conversion date.
So the $1,210,000 could be converted at 85% of .03 which is .0255. When you do the math the equates to about 47.5 MILLION SHARES
Add them all up you get 331 MILLION SHARES
Remember the lower the price goes the conversions prices will be lower which equates to more potential dilution. So as the stock falls it will be harder for it to climb out .
IP: Logged |
posted
OSU: Well. You've certainly done some homework, and I commend you for that.
However, when is the conversion date? Your math is based on the current PPS. If things continue as promised (which is an if), we could be much higher before the bulk of the conversions are complete. I do agree that we have seen a large amount of converting over the last few weeks, but not yet near 331M shares. Our best guesses are around 20-30M. While I don't like that one bit, we are still no where near the billions of outstanding shares some other companies are.
Finally, if rumors are to be believed, we are looking at a potential statutory merger with a current Naz company. Should it happen, it's a whole new ballgame.
Thanks for the info.
-------------------- I have taken a vow of poverty, so if you want to irritate me, send money.
IP: Logged |
posted
OSU...Nice work on doing the all that math for us. I think it is good for us all to have a grasp on the depth of potential delution we could see. However, this is a small company, just like many OTCBB companies and the quickest way for them to grow is to do just as you've shown. I think we all know this or you shouldn't be investing. Good input and thanks for posting
posted
Here is why that is flawed although that is great that you posted that part of the Q as if no one read it before. A that agreement was done One year ago....The share price was .30 cents. You are assuming that they are converting at todays price and have always been converting at todays price which is wrong. They converted 10mil at .07. Read the sb2 it is for 76million shares....the AS is 150mil yet you put out 330mil...please...so let me get this straight. We have been in this stock for months. We get a pr and you come out to tell us not to invest in this and this is why....
As far as the last part 47mil shares you really tihnk the principles of IMG are going to sell at .03 cents? That was good though I might give you a cookie for that try..... You post info from the Q that everyone knew about. Then act as if it happening right now..
IP: Logged |
posted
That whole intire post is based on conversion at .03 and lower...So what you are saying is that this company won't go up at all. The contracts more aquisitions we will se no price appreciation...it will continue to go down...you are very astute...
IP: Logged |
posted
What about the 10mil that came in at a range of .06-.07 or the other 10mil done around .04-.055. That knocks out about 1.5mil...oh but what about the convertibles that took place way before that when the share price was in the .30's. The os didn't grow on its own?
IP: Logged |
posted
the addition of several significant new clients such as The Personal Lines Division of St. Paul Travelers. Travelers researched and interviewed over 100 incentive companies before deciding on the INmarketing Group.
IP: Logged |
quote:Originally posted by emich25: As far as the last part 47mil shares you really tihnk the principles of IMG are going to sell at .03 cents? That was good though I might give you a cookie for that try.....
Are you STUPID?? They would convert it at .03 not sell it!
As far as the authorized shares at 150. This can easily be raised anytime and will be.
IP: Logged |
Topic Closed
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Eek!]](eek.gif)
This one has RED FLAGS all over!!
![[Frown]](frown.gif)
Remember the lower the price goes the conversions prices will be lower which equates to more potential dilution. So as the stock falls it will be harder for it to climb out .
