PhilCheeze, You asked about $IDLM on twitter. E
Post# of 1906
Posted On: 03/09/2014 11:44:00 PM
PhilCheeze,
You asked about $IDLM on twitter. Easier to respond in this forum.
Background: Idle Media (IDLM) owns Datpiff.com, Hiphopearly.com, ClipCartel.com, PrisonBlock.com, MafiaBlock.com, and more. The big money-maker is Datpiff, which is a music-sharing website devoted to HipHop. Nearly 1M Facebook likes. No debt. Almost no shares issued since going public in 2010 (they issued 6M to executives and clawed back 4M from a guy who maybe shouldn't have had restricted shares in the shell, for a net increase of 2M on a base of 58M).
Standard market valuations of unique monthly visitors would have IDLM up over 50c per share, but management has been tripping over their own feet. First they had a guy doing the books who was, well, let's just say suboptimal. Then they brought in the new COO/CFO, Haddock, who did a thorough overhaul and found lots more problems. Correcting the errors generally BENEFITTED the company, but some of the problems proved tough to fix. So, they stopped filing and went dark. In 2012 they attempted to re-register, filing Form 10-12G. They then amended and amended and amended -- until now they have given up. Costs are just eating up the bottom line. Better to just stay pink until they are bigger. So, now we are waiting for end of the 90-day SEC comment period on their Form 15 to withdraw their Form 10-12G. Paperwork!
Anyway, one of the stock's problems is that during this whole period the COO has been a hard-ass about observing a quiet period. Yes, I'm talking YEARS. Over on IFLUB, we've been doing faux press releases almost as a joke whenever we discover that they have developed a new website, or had a million-download mixtape, or whatever. But we just couldn't get the COO to budge on his policy of silence. I don't really even see any basis whatsoever for this legal interpretation, but we are all hoping for better communications after the end of March.
And now the stock seems to be moving up in anticipation of the coming thaw.
We all knew the PPS was silly cheap, but the question was always whether one could get an even lower price by waiting. Well, now I don't think we'll be seeing lower prices. Indeed, I think the race is on to get the last few cheapies under 20c.
The TA is UNGAGGED. The float is only 13.5M shares. No debt, no convertible, no company-issued put liability, no preferred shares, and the only options are 2M at 50c held by the CEO (and some at $1 and $2).
If management can now focus on growing the company, rather than dealing with SEC registration, I think there's huge opportunity: branded merchandise (they already developed prototypes), clones of Datpiff for other music genres, improved ad revenues on their games, and more.
I think we are going to be pushing 30c or maybe beyond that by the end of March/start of April as we head into the new era of corporate communications. Current price is 10c.
Wadi
You asked about $IDLM on twitter. Easier to respond in this forum.
Background: Idle Media (IDLM) owns Datpiff.com, Hiphopearly.com, ClipCartel.com, PrisonBlock.com, MafiaBlock.com, and more. The big money-maker is Datpiff, which is a music-sharing website devoted to HipHop. Nearly 1M Facebook likes. No debt. Almost no shares issued since going public in 2010 (they issued 6M to executives and clawed back 4M from a guy who maybe shouldn't have had restricted shares in the shell, for a net increase of 2M on a base of 58M).
Standard market valuations of unique monthly visitors would have IDLM up over 50c per share, but management has been tripping over their own feet. First they had a guy doing the books who was, well, let's just say suboptimal. Then they brought in the new COO/CFO, Haddock, who did a thorough overhaul and found lots more problems. Correcting the errors generally BENEFITTED the company, but some of the problems proved tough to fix. So, they stopped filing and went dark. In 2012 they attempted to re-register, filing Form 10-12G. They then amended and amended and amended -- until now they have given up. Costs are just eating up the bottom line. Better to just stay pink until they are bigger. So, now we are waiting for end of the 90-day SEC comment period on their Form 15 to withdraw their Form 10-12G. Paperwork!
Anyway, one of the stock's problems is that during this whole period the COO has been a hard-ass about observing a quiet period. Yes, I'm talking YEARS. Over on IFLUB, we've been doing faux press releases almost as a joke whenever we discover that they have developed a new website, or had a million-download mixtape, or whatever. But we just couldn't get the COO to budge on his policy of silence. I don't really even see any basis whatsoever for this legal interpretation, but we are all hoping for better communications after the end of March.
And now the stock seems to be moving up in anticipation of the coming thaw.
We all knew the PPS was silly cheap, but the question was always whether one could get an even lower price by waiting. Well, now I don't think we'll be seeing lower prices. Indeed, I think the race is on to get the last few cheapies under 20c.
The TA is UNGAGGED. The float is only 13.5M shares. No debt, no convertible, no company-issued put liability, no preferred shares, and the only options are 2M at 50c held by the CEO (and some at $1 and $2).
If management can now focus on growing the company, rather than dealing with SEC registration, I think there's huge opportunity: branded merchandise (they already developed prototypes), clones of Datpiff for other music genres, improved ad revenues on their games, and more.
I think we are going to be pushing 30c or maybe beyond that by the end of March/start of April as we head into the new era of corporate communications. Current price is 10c.
Wadi
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