written by reader Marine Drive Mobile

By hd123sftail, June 11, 2012

  • This came from one of those free spam type posts I get but for some reason I read it today.  MDMC is able to put out coupons to your phone by knowing where your at.  For example a golf course could send out a coupon to everyone at their location offering some sort of discount.  The reason it would be used by business is that it pays them 100% up front not 50% when they get around to it like Groupon and others of that sort.  I guess the “thrifty” part of me was drawn to this.  Anyone have any thoughts?

This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.

guest

12345

This site uses Akismet to reduce spam. Learn how your comment data is processed.

2 Comments
Inline Feedbacks
View all comments
Travis Johnson, Stock Gumshoe
June 13, 2012 10:47 pm

Offhand, it looks like another stock promotion — which usually means either someone’s trying to manipulate the stock so they can sell it at a higher price, or the company is desperate to get its share price up so they can sell stock to raise funding. Since they appear to have less cash on hand than the average Gumshoe reader makes in a year, it could be either.

Doesn’t mean the company might not be worth something someday, or that they mightn’t carve out a niche in this crazily competitive and so far pretty unprofitable niche (mobile advertising — which is weak enough compared to desktop advertising that it’s bringing down Facebook) — but in general, if someone has to try this hard to sell it to you, it’s not worth what they’re asking.

If ever the stories of these stocks get you hot under the collar, check out one of their SEC filings — in this case, we get fairly standard stuff about the reverse merger that formed MDMC (they used to be Soma Resources, a failed mineral exploration company), but we also learn that they’re going to “prove their concept” by first taking on the golf industry and trying to become a big player in golfing daily deals.

And we learn that their only real asset, other than the value that they claim for the software they’ve developed (they capitalized about $100,000 for this development), is equipment that they bought this quarter: One computer. For $1,300. So $100,000 worth of developed software, one computer, and 7,000 friends on Facebook and they’re trading for about $25 million. That’s probably unfair on some level, I imagine they’ve also picked up some customer lists or software from the tiny penny stocks they’ve acquired recently … but they do also have about a million bucks in debt (or debt-like stuff, like advances from partners).

And then there’s always the “going concern” bit from the 10Q:

“The Company will need additional working capital to service its debt and for its planned activity, which raises substantial doubt about its ability to continue as a going concern. Continuation of the Company as a going concern is dependent upon obtaining additional working capital and the management of the Company has developed a strategy, which it believes will accomplish this objective through additional equity funding, and long term financing, which will enable the Company to operate for the coming year.”

I think we might be seeing this strategy that they developed to raise equity funding.

Add a Topic
5971
Add a Topic
5971
Add a Topic
5971
👍 18054
yuhu_az
Member
yuhu_az
June 26, 2012 11:18 pm

Premier Holdings Corp – has a wholly owned subsidiary, WePower, that supposedly has the next big breakthrough in clean energy. It’s being promoted Eric Dany’s Stock Prospector.

Add a Topic
5971