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Originally Posted by WiredGuy
I didn't know Mobbucks was public. After looking at their 6 month report (see below), I wonder what's been going on?
WG |
This has been address several times. I'll go over it again just to make it clear for those with any doubts.
Mobbucks is not public. Some of the funding comes from 110 mediagroup, inc which I am the founder/CEO and which is public. 110 mediagroup has a vested interest in Mobbucks, but the stock price or financials of mobbucks are not directly related to OTEN.
The decreases in stock price are a direct result of dilution caused by stock issuances for acquisitions of properties such as web1000. When you issue 400,ooo shares to buy a company the stock price (especially on a tightly held company like oten, tends to decline). The apparent losses in revenue are not true losses either, if you pay $500K in stock it show as a $500K loss even though the company just issued stock, not paid out cash...etc.
110 media allows us to use paper to buy companies and pay people etc. using equity, but in no way directly reflects the earnings or stability of mobbucks (which is also a company under a subsidiary called Jade entertainment)
No worries associating the two would would be like not buying windows based software made by third party companies because microsoft stock takes a dive...they are not related in any way other than 110mediagroup invests in mobbucks, and assists in acquisitions.
Any questions, hit me up...