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Microcap & Penny Stocks : 1ST MIRACLE GROUP (MVEE), founders last co. went $0.20-$46
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To: LegalBeast who wrote (788)7/29/1998 2:21:00 PM
From: zookeeper   of 5541
 
Cannon's previous accounting woes are irrelevant for a very specific reason. The 4 movie deal appoints a general partner, the broker who's responsible for its clients invested money, who will handle the money and accounting outside of G&G and MVEE's control. Also, a 20% of gross buffer is included in the deal for 'deal-making' with cast, crew, and others, so they can't go overboard in that area. Basically, the company can't go into debt. Either the films will do well and both the company and the investors will profit, or they won't and the investors will lose out, with the company going back to square one. Note that they have already pre-sold some of the distribution rights, thus insuring revenue for the films before they're even made.
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