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– bounced from $1 to 1.55 and faded to $1.40ish.
– they put fluffy news on August 5: Onstream Media Debuts MarketPlace365 with SUBWAY®
– 6-Apr-2010 SEC 8-k: On January 19, 2010, we received a letter from NASDAQ stating that the NASDAQ Listing Qualifications Panel (the “Panel”) had determined to continue the listing of our common stock on The NASDAQ Capital Market, pursuant to an extension through April 19, 2010, to meet the minimum bid price requirement as set forth in Listing Rule 5550 (a)(2) (the “Rule”). Unless we regain compliance with the Rule as of April 19, 2010, our common stock will be subject to immediate delisting. However, we may be considered compliant with the Rule, subject to the Panel’s discretion, if our common stock closes at a bid price of $1.00 per share or greater for a minimum of 10 consecutive trading days prior to April 19, 2010. On April 6, 2010 we issued a press release announcing that we had finalized a 1-for-6 reverse stock split of the outstanding shares of our common stock, which was effective at 5PM on April 5, 2010. The purpose of the reverse stock split is to increase the per share market price of our common stock.
– 7-May-2010 SEC 8-k: Unregistered Sale of Equity Securities. The following transaction resulted in our sales of unregistered securities since our last periodic report exceeding 5% of the number of shares outstanding of the class of equity securities sold and accordingly such transaction is being reported now on this Form 8-K in lieu of reporting it later under Part II item 2 of Form 10-Q . On May 3, 2010 we closed on the borrowing of $250,000 from an individual (the “Investor”) under the terms of an unsecured subordinated convertible note (the “Note”), which is repayable in principal installments of $13,000 per month beginning July 3, 2010, with the final payment on May 3, 2011, including remaining principal and all accrued but unpaid interest (at 10% per annum). The Note is convertible into common stock at the Investor’s option based on our closing share price on the funding date of the Note, which was $2.04. We also borrowed $250,000 from the Investor in February 2010 under similar terms. We may prepay th Note at any time with ten days notice, provided that the Investor may convert the outstanding balance to common shares during such ten day period. If we successfully conclude a financing of debt or equity in excess of $1,000,000 during the term of the Note, the proceeds of such financing will be used to pay off the remaining balance of the Note. In the event of a default, we will be obligated to pay the Investor an additional 5% interest per month (based on the outstanding loan balance and pro-rated on a daily basis) until the default has been cured, payable in cash or unregistered common shares.
– ugly financial. Every quarter/year they are loosing millions of $. Retained earnings as 2010-03-31 -$119.73M. Total Assets $22.87M and $14.00M of it is Goodwill. Cash $0.71M and Debt $4.42M.
– Shares Outstanding: 7.74M, Float: 7.43M, Traded: 905083 shares
– Shares Short (as of Jul 15, 2010): 33.44K 0.50%
– volume is increasing
– solid earning result: EPS $0.51, Accumulated deficit $(95,455,000)
– Shares Outstanding5: 21506791, Float: 17.19M
– Shares Short (as of Jul 15, 2010)3: 2.01M 11.30%
– still watching
– 10-Q to be filed with the Securities and Exchange Commission on August 13, 2010.
– consolidating on its top
– Shares Outstanding: 17.07M, Float: 7.34M, Shares Short (as of Jul 15, 2010): 161.71K
– Financials for 2010-03-31: Cash & Equivalents $0.75M, Long Term Debt $23.58M, Retained Earnings -$41.45M but for last 4 quarters they have positive net income
– gradual intraday uptrend from 5 cents to 9 cents/share. This stock is a former runner
– 6-Aug-2010 SEC 10Q:
* We have generated no revenues for the three and six months ended June 30, 2010 and the same period in 2009. Our operating expenses for the three months and six months ended June 30, 2010 totaled $2,574,866, and $7,708,336 respectively, compared to $4,925,109 and $11,047,638 respectively, for the same periods in the prior year. The primary component of the operating expenses in both periods was for shares issued for services. The significant decrease in compensation expense for the 2010 fiscal periods is due to the differences in shares prices and number of shares and warrants issued in each year. We recorded stock-based compensation to our CEO and president of $1,891,721 and $3,764,321for the three months and six months ended June 30, 2010, compared to $4,656,361 and $9,261,553 for the same periods in the prior year. In addition, during the six months ended June 30, 2010, we issued 20,000,000 shares to Procyon Group, LLC, an unrelated third party consultant, for public relations services valued at $3,000,000, issued 350,000 shares to Randall Business Development, our unrelated business consultant valued at $44,100 and issued 25,000 shares in settlement of a lawsuit valued at $2,500 . Effective April 24, 2008, we entered into an exclusive agreement for Cappello Capital to assist us with financial advisory services, specifically the raising of capital through various potential transactions, including, but not limited to, private placements, strategic alliances, sale or merger, divestitures, recapitalization, or strategic acquisition. The agreement provided for us to compensate Cappello Capital through warrants with an exercise price of $0.05 per share to purchase up to 5% of the Company on a fully diluted basis, with 2% of the warrants being due at the time of the signing of the agreement. Additionally we would be required to pay Cappello Capital a percentage of any financial transaction closed during the term of the agreement. We exercised our cancellation option on September 24, 2009 with Cappello Capital without any transaction being completed. However, under the terms of the agreement, Cappello exercised their signing warrants for a total of 8,814,483 common shares. The shares were issued February19, 2009, and the issuance caused us to record a gain of $7,598,481 for the six months ended June 30, 2009. The derivative value at each measurement date and the resulting gain or loss from the change in value is determined using the Black Scholes option pricing model. When our stock price goes up, our derivative value tends to increase and when our stock price goes down our derivative value tends to decrease.
* Other than the expense recorded for stock compensation during the three and six months ended June 30, 2010, operating expenses consisted of $589,179 and $698,180 in general and administrative expenses. In the same periods in 2009, our operating expenses included $101,458 and $248,038 in general and administrative expenses.
* At June 30, 2010, we had one full-time officer, our CEO and President Douglas Hague, and one full-time employee. Mr. Hague has a written employment agreement and our other employee is at-will.
* For the three and six months ended June 30, 2010 we incurred net losses of $2,626,773and $7,785,548 compared to net losses of $4,949,621 and $3,498,612 for the same periods for the prior year. For the three and six months ended June 30, 2010, we had losses from operations of $2,574,866 and $7,708,336, respectively, as outlined above, and interest expense of $51,907 and $78,202, respectively. For the same periods in the prior year, we had interest expense of $24,512 and $49,455, respectively. We anticipate losses from operations will increase during the next twelve months due to anticipated increased payroll expenses as we add necessary staff and increases in legal and accounting expenses associated with becoming a reporting company. We expect that we will continue to have net losses from operations for several years until revenues from operating facilities become sufficient to offset operating expenses, unless we are successful in the sale of licenses for our technology.
* Our total indebtedness at June 30, 2010 was $4,543,203, consisting of current liabilities of $2,145,032. Current liabilities consists primarily of accounts payable, accounts payable from related parties, debt owed to related parties, short-term debt and accrued liabilities. At June 30, 2010, we had current assets of $1,486 in cash. We had property, plant and equipment (net of accumulated depreciation) of $637 as at June 30, 2010. As of June 30, 2010, we had a working capital deficit of $2,143,546.
* Based on our current operational costs, we will need approximately $5,000,000 to fund our operations for the next 12 months, and a similar additional amount to continue operations for the following twelve months, or until the initial plant is up and running. We are contractually required to provide approximately $1,670,000, representing the first 20% of our partnership contribution, within ninety days the Chinese government issuing their final approval of our project – The pre-requisite feasibility study was completed in April, 2009, and our Certificate of Approval (Operating License) was issued by the Inner Mongolia government on June 5, 2009.. We are currently awaiting the project’s final approval by the Chinese Government which we had anticipated would take place during the second quarter, but due to circumstances outside our control, should now take place during the third quarter, 2010. Once this approval is obtained we will be able to complete the final design and commence construction, which we hope will begin by the third quarter, 2010. This time frame represents a delay in our original estimate for the beginning of the initial construction of the facility due primarily to delays in the completion and acceptance of the myriad of environmental impact, health and safety, land use, and human resources studies required by the Chinese government. The remaining portion of our funding for the joint venture will be due within twenty-four months of our receipt of the final government approval. Accordingly, we estimate we need to raise $10,500,000 for the balance of 2010, and $13,700,000 for 2011 in order to meet our funding commitments and continue operations. We are in discussions with several interested parties who may fund some or all of the estimated costs but have no definitive agreements in place.
– Shares Outstanding5: 460.72M, Float: 397.33M, Traded: 5,974,468 shares