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MultiMetaVerse Holdings Limited V.MMV


Primary Symbol: MMV

MultiMetaVerse Holdings Limited is a holding company principally engaged in the animation and entertainment industry. The Company conducts its business primarily through subsidiaries, including Shanghai Mi Ting Culture and Creative Co Ltd and its subsidiaries Shanghai Ling Xu Technology and Beijing Mi Ting Technology Co Ltd. The Company primarily develops and publishes animations, mobile games, and other contents offerings such as anime merchandise, and also provides animation production services to other animation and gaming companies.


NDAQ:MMV - Post by User

Comment by CaptainMon May 25, 2020 4:44pm
152 Views
Post# 31070470

RE:RE:RE:RE:RE:RE:Rhetorical question

RE:RE:RE:RE:RE:RE:Rhetorical questionAs I said,  I have not looked at the financials for the last couple or so quarters.  Before their first 2019 PP, they were down to fumes and higher management did not get paid (call them and check the statements to verify).  In fact, insiders financed the company to keep it afloat and later received shares (not cash) for their financing.

I believe you are referring to the news release 2019-09-19 (not 2019-10-19), where they completed the purchase of the Standby mine (not salaries), after they finally received PP money.  Contractually (take a look at the Standby purchase agreement), they were on the hook to pay this amount by 2019. 

My dates may be off by a couple of months or so, but the point is that the management team is heavily invested with their own personal money in comparison to a lot of juniors out there, and made a lot of sacrifices like not being paid to keep things afloat until the next PP.  

I was not happy with the pace of the directional drilling and so I understand your frustration there (cost wise it was probably only a little bit cheaper given the time spent); but this time around, they will use conventional drilling with a wedge for any turns (cannot go back and correct course like with a directional drill) that will be much quicker.
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