$REDG Reinstatement - Key Points From "State of th
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Posted On: 02/23/2019 6:14:49 PM
$REDG Reinstatement - Key Points From "State of the Union" Video - February 23, 2019
Reinstatement:
- Temporary, voluntary delisting from the OTC was part of an agreed way forward with SEC.
- It avoided the time and extreme expense of having to get delinquent filings, going back many years, up to date.
- All that is required now - as part of the deal with the SEC - is audited financials for 2018 & 2017.
- This will be easy and quick to do.
- CPA has already completed the all calculations - now with attorney.
- Reinstatement to the OTC will be 60 days after filing.
- SEC has confirmed all previously purchased public shares will be valid when the company changes back again from public to private and listed on the OTC as REDG.
Moving Forward:
- Significant problems were experienced in various projects and lines of development that involved reliance on external partners.
- Therefore REDG didn't have total control of the process.
- Moving forward, REDG will return to its core competencies with comic books as the baseline.
- As always, it will be a 50/50 partnership between the parent company REDG and individual creators.
Progress:
- The current and future business plan started with the creation of the Absolute "Universe" (a comic industry term for a range of items).
- Absolute Comics Group was formed in late-2018 to encompass all the new creations / characters that would form part of the Absolute "Universe".
- The first character is "White Widow" and Issue 1 was funded extremely successfully using Kickstarter.
- Kickstarter for White Widow Issue 1 reached its funding goal in only 13 hours.
- Kickstarter was also used effectively for "free advertising" to promote those interested in the product to go into their local specialist comic store and ask for it to be ordered.
- Demand greatly exceeded expectations. As a benchmark, REDG used demand for "The Walking Dead" - one of the most successful first issue launches in modern times - to gauge their expectations.
- They also printed 50% overstock over the initial pre-orders and these were all pre-sold before they hit the shelves.
- Second print run pre-orders for Issue 1 are still coming in.
- White Widow Issue 1 was also produced with over 30 cover variants for individual retailers. This of course appeals to collectors.
- REDG believes the demand is due to the extreme high quality of the product - foil / hologram covers, high quality and number of pages and content which is very "different" to everything else [see video for examples].
- Kickstarter for White Widow Issue 2 was launched on the evening of February 22 and reached its goal in only 2 hours.
- REDG considers it now has a viable cornerstone product to go public again.
- Absolute Comic Group will have at least 2 more titles in 2019 in addition to multiple issues and cover variants of White Widow.
- Assemby line is currently in St Louis where White Widow creator Jamie Tyndall is supervising "hands on" and is also an investor.
- Extremely good margins and profitability now make it possible to plan on getting a warehouse in Los Angeles - to be near to ports of entry and distribution points - which will reduce costs considerably.
REDG "State of the Union" Video - February 23, 2019
https://www.youtube.com/watch?v=WaJtUIicoOE&a...e=youtu.be
Reinstatement:
- Temporary, voluntary delisting from the OTC was part of an agreed way forward with SEC.
- It avoided the time and extreme expense of having to get delinquent filings, going back many years, up to date.
- All that is required now - as part of the deal with the SEC - is audited financials for 2018 & 2017.
- This will be easy and quick to do.
- CPA has already completed the all calculations - now with attorney.
- Reinstatement to the OTC will be 60 days after filing.
- SEC has confirmed all previously purchased public shares will be valid when the company changes back again from public to private and listed on the OTC as REDG.
Moving Forward:
- Significant problems were experienced in various projects and lines of development that involved reliance on external partners.
- Therefore REDG didn't have total control of the process.
- Moving forward, REDG will return to its core competencies with comic books as the baseline.
- As always, it will be a 50/50 partnership between the parent company REDG and individual creators.
Progress:
- The current and future business plan started with the creation of the Absolute "Universe" (a comic industry term for a range of items).
- Absolute Comics Group was formed in late-2018 to encompass all the new creations / characters that would form part of the Absolute "Universe".
- The first character is "White Widow" and Issue 1 was funded extremely successfully using Kickstarter.
- Kickstarter for White Widow Issue 1 reached its funding goal in only 13 hours.
- Kickstarter was also used effectively for "free advertising" to promote those interested in the product to go into their local specialist comic store and ask for it to be ordered.
- Demand greatly exceeded expectations. As a benchmark, REDG used demand for "The Walking Dead" - one of the most successful first issue launches in modern times - to gauge their expectations.
- They also printed 50% overstock over the initial pre-orders and these were all pre-sold before they hit the shelves.
- Second print run pre-orders for Issue 1 are still coming in.
- White Widow Issue 1 was also produced with over 30 cover variants for individual retailers. This of course appeals to collectors.
- REDG believes the demand is due to the extreme high quality of the product - foil / hologram covers, high quality and number of pages and content which is very "different" to everything else [see video for examples].
- Kickstarter for White Widow Issue 2 was launched on the evening of February 22 and reached its goal in only 2 hours.
- REDG considers it now has a viable cornerstone product to go public again.
- Absolute Comic Group will have at least 2 more titles in 2019 in addition to multiple issues and cover variants of White Widow.
- Assemby line is currently in St Louis where White Widow creator Jamie Tyndall is supervising "hands on" and is also an investor.
- Extremely good margins and profitability now make it possible to plan on getting a warehouse in Los Angeles - to be near to ports of entry and distribution points - which will reduce costs considerably.
REDG "State of the Union" Video - February 23, 2019
https://www.youtube.com/watch?v=WaJtUIicoOE&a...e=youtu.be
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A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.