hi,
re: mxmx
i have recently been in contact with mxmx chairman rainer poertner
and he gave me the following information:
1.currently 4 mio. shares outstanding, fully diluted 6 mio.(all options & warrants)
2. float approx. 700,000 (!)
3. insiders hold about 2 mio. shares
4. mxmx is currently in the process of doing a 2.5 m funding to shore up their cash reserves
5. they hope to reach profitability by year-end.
6. expect lots of new developments in the next weeks and months
my personal assessment of media x at this stage:
first let me disclose that i am a shareholder in mxmx. i bought the shares mainly on the strength of their design capabilities and their
celebrity sites, which i think are a very promising idea.
but let's not kid ourselves: an investment in mxmx is pure speculation. if they succeed, it could pay off big, but success is far from assured.
here are the caveats: their finances are shaky (a look at their SEC filings is a rather sobering experience); furthermore they are not focussed enough; as i understand it they are trying various avenues (e-commerce,content,cd-roms,...)in the hope that one of those will eventually start to pay off, but i personally think that they would be better off concentrating on content right away.
anyhow, the small float and the prospect of a new flood of press releases should be sufficient to give the stock another pop (that's usually all it takes for a web company).
i plan to stay in contact with them and i intend to post anything that might be of interest, so stay tuned.
a final word of caution: should net stocks in general sell off (and most look a bit overbought here), or (heaven forbid) the bull market
as a whole stumble, all bets are off with mxmx.
ps: i have today sold my dclk & amzn - they look a bit stretched right now, and have started to nibble on nsol & cnet (nsol because a high profile short seller has recently driven the stock down by publishing an unfavorable report and the tape looks good, cnet because recent contraction of intraday price movement and volume suggests a breakout is imminent - hopefully to the upside; oh, and both have actually earnings,not that that matters much nowadays)
greetings
blasnik |
