(update 20 September 2013: see the comments (below) on this post for some ongoing updates from Sept. 2012 onwards)
It's been a while since this blog was updated, but recently I was reminded of Dubli's plan to get listed on the Nasdaq before the end of 2012 by Dubli B.A. Alan Breen's August 22, 2012 Webcast (see screenshot at bottom of page).
So, I decided to look up the actual official requirements for a Nasdaq listing.
It's interesting to see Dubli (or rather the MEDG parent company) doesn't yet meet one of the most important requirements: a regular share bid price at time of listing in either the $4, or $3 to $2 range.
Listing Standard No. 1: "no one year in the prior three years can have a net loss"
Listing Standard No. 2: "its average market capitalization
over the prior 12 months must be at least $550 million"
Listing Standard No. 3: "Companies can be removed from the cash flow requirement of Standard No. 2 if the average market capitalization over the past 12 months is at least $850 million"
so it'll be equally interesting to watch further developments and announcements from Dubli B.A's or MEDG management.
The listing requirements for the Nasdaq are as follows:
(taken from:http://www.investopedia.com/ask/answers/121.asp) What are the listing requirements for the Nasdaq?
Major stock exchanges, like the Nasdaq, are exclusive clubs - their reputations rest on the companies they trade. As such, the Nasdaq won't allow just any company to be traded on its exchange. Only companies with a solid history and top-notch management behind them are considered.
The Nasdaq has three sets of listing requirements. Each company must meet at least one of the three requirement sets, as well as the main rules for all companies.
Listing Requirements for All Companies
Each company must have a minimum of 1,250,000 publicly-traded shares upon listing, excluding those held by officers, directors or any beneficial owners of more then 10% of the company. In addition, the regular bid price at time of listing must be $4, and there must be at least three market makers for the stock. However, a company may qualify under a closing price alternative of $3 or $2 if the company meets varying reequirements. Each listing firm is also required to follow Nasdaq corporate governance rules 4350, 4351 and 4360. Companies must also have at least 450 round lot (100 shares) shareholders, 2,200 total shareholders, or 550 total shareholders with 1.1 million average trading volume over the past 12 months.
In addition to these requirements, companies must meet all of the criteria under at least one of the following standards.
Listing Standard No. 1
The company must have aggregate pre-tax earnings in the prior three years of at least $11 million, in the prior two years at least $2.2 million, and no one year in the prior three years can have a net loss.
Listing Standard No. 2
The company must have a minimum aggregate cash flow of at least $27.5 million for the past three fiscal years, with no negative cash flow in any of those three years. In addition, its average market capitalization over the prior 12 months must be at least $550 million, and revenues in the previous fiscal year must be $110 million, minimum.
Listing Standard No. 3
Companies can be removed from the cash flow requirement of Standard No. 2 if the average market capitalization over the past 12 months is at least $850 million, and revenues over the prior fiscal year are at least $90 million.
A company has three ways to get listed on the Nasdaq, depending on the underlying fundamentals of the company. If a company does not meet certain criteria, such as the operating income minimum, it has to make it up with larger minimum amounts in another area like revenue. This helps to improve the quality of companies listed on the exchange.
It doesn't end there. After a company gets listed on the market, it must maintain certain standards to continue trading. Failure to meet the specifications set out by the stock exchange will result in its delisting. Falling below the minimum required share price, or market capitalization, is one of the major factors triggering a delisting. Again, the exact details of delisting depend on the exchange.
-------------------------------------------------------------------------------added: screenshot of Alan Breens webcast:
Keesje:
ReplyDeleteAny idea what happened to the long time Dubli discussion at The Spin Factor?
I hadn't been able to post there for about a month, and now in the past week or so, it's suddenly disappeared. Have you heard anything?
Eugene (former poster on The Spin Factor Dubli page)
Hi Eugene, yeah I noticed it as well, I think the website wasn't maintained anymore for some time already, I have no clue what happened.
ReplyDeleteThe only alternative I could think of to post on would be the Whirlpool forum, but the Dubli topic there also hasn't been active for quite a long time now...
So... I don't know... I won't be very active here either..
Anyway, it has been fun while it lasted ;-)
Seeya,
keesje
Hi,
ReplyDeleteI just discovered Your blog - great to find some critical recources on Dubli. Keep it up!
Regards,
krak
Dubli sells auction services in exchange for assumption of liabilities and $2. beavis celebrates.
ReplyDelete" Item 1.01 Entry into a Material Definitive Agreement.
On December 31, 2012, DubLi, Inc., (the “Company”) and Agaani Music, JLT (“Agaani”) entered into an Agreement for the Sale of Assets, Assumption of Liabilities and Obligations and Licensing of certain Rights (the “Agreement”). Agaani has been a content provider for the Company since 2010. It currently provides several services for the Company’s entertainment section including music and video search technology. Pursuant to the Agreement, as amended and restated on January 3, 2013, the Company caused DUBLICOM LIMITED (“DubLi.com”), one of the Company’s wholly-owned subsidiaries, to: (a) sell certain assets, (b) transfer and assign certain obligations and liabilities, and (c) license certain rights to Agaani, which consist of all of the assets and liabilities relating to the Company’s auction services.
As part of the transaction, DubLi.com licensed to Agaani the non-exclusive limited right to use its customer database, which is limited to customers who signed up for website auctions up to and including December 31, 2012. Furthermore, Lenox Resources, LLC, another wholly-owned subsidiary of the Company, licensed to Agaani the non-exclusive right to use the DubLi brand until December 30, 2013.
In consideration for the transfer of the Company’s assets and the licensing of certain rights, Agaani paid the Company U.S. $2.00 and assumed liabilities and obligations to continue providing auctions until all of the existing prepaid licenses to participate in the auctions as of December 31, 2012 are used or expired according to the terms and conditions relating to the issuance of such licenses. As of October 2012, the Company’s preliminary analysis indicated that such liabilities totaled approximately U.S. $11.8 million. The parties have agreed to a final reconciliation of the assumed monetary liabilities by January 31, 2013.
As a result of the transaction, the Company will focus on its Online Shopping Malls and Entertainment products as well as its Online Entertainment store. The transaction is designed to strengthen the Company’s core competencies by allowing management to focus on the development of the Company’s product portfolio.
The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the Agreement attached hereto as Exhibit 10.1 and incorporated herein by reference. "
"Dubli sells auction services in exchange for assumption of liabilities and $2"
ReplyDeleteThanks Beavis, wow, now that's an interesting development!
I can't wait to hear Dean Mannheimer's spin on that when he gives another 'update call' over at http://www.doa2z.com/
Oh, my. . .
ReplyDelete"On January 23, 2013, the Company and Agaani entered into a Rescission Agreement and Mutual Release (the “Rescission Agreement”), pursuant to which the Company and Agaani rescinded the Agreement and Agaani returned the assets, liabilities and obligations to the Company’s subsidiaries in the state they were in immediately prior to the Transaction as if the Transaction never occurred. "
I can only think of two scenarios where this would unwind:
1. After retrospection or a change in events, both sides mutually decide it is in their best interests not to proceed.
or
2. One side, after getting additional facts, found they were getting screwed.
My guess is Agaani discovered that the liabilities they were assuming were well beyond what had initially been shown to them. This could have given Agaani an out. Regardless which scenario, now Dubli has a problem. They obviously wanted the liabilities off of their books; so much that they were willing to sell of their "precious" code they supposedly spent millions of dollars on for $2. I believe that this deal was Dubli's fourth quarter with only seconds left in the game "Hail Mary" pass (* - see definition below for those of you not familiar with American football slang). With the annual report for the period ending 9/30/12 not in it's difficult to see their actual financial condition; however, I would suspect that they are running out of cash and their annual report would reinforce the downward trend in net worth that the previous quarterlies had been showing. So, riddle me this: what is a Dubli credit worth when there is no Dubli?
* Hail Mary Pass - A Hail Mary pass or Hail Mary route in American football refers to any very long forward pass made in desperation with only a small chance of success, especially at or near the end of a half.
Hey Beavis, yeah I saw it also... very weird ...
ReplyDeleteBtw, Dean Mannheimer never mentioned this in his 'update calls' over at http://www.doa2z.com ... but both he and Alan Breen are talking about a dramatic change in the compensation system per Feb. 1 ... no more credits to be bought/sold by the BA's... completely new types of BA packages... also interesting to see how on the Alexa traffic page ( http://www.alexa.com/siteinfo/dubli.com ) a significant part of dubli's traffic now goes to "accounts.dubli.com"...
Too bad the Spinfactor site is dead... and I don't imagine the Whirlpool forum would be a good substitute since the dubli thread there is already so long inactive... also, there used to be a german forum that had some quite busy dubli threads, but also there it's like a ghost town now...
Anyway, let's see when dubli will hit the Nasdaq ;-) ... I heard Alan Breen talk about dubli doing a reverse split so that its stock would hit some multi dollar requirement... excitinggggggggggg :-)
Keesje, Bevis -- Looks like this comments section will have to substitute for the old Spin Factor forum. I still miss it -- when the discussions got active, it could get quite entertaining.
ReplyDeleteI have been tracking Dubli's fortunes (indirectly) via their traffic ranking in Alexa. They were pretty stable for about 18 months after their last big surge in early 2011, but just in the past couple of months, their traffic has really started to plummet. Unfortunately, there's not a lot of other objective sources of information, and in recent times, I suspect that most of what's out there on the 'net about Dubli isn't in English anyway.
Dubli's stock seems to have been on a downhill run for the past few months, and may well be returning to the $0.15/share it was in early 2011. They did issue a "Non-reliance on previous financials" form 8 K/A last Friday. Surprise, surprise, they ended up losing a million dollars more in the quarter ending June 30 2012 than stated in their quarterly report. The form includes the message "our principal financial officer concluded that our internal controls over financial reporting were not effective in prior quarters." No kidding.
Anyway, it's nice to chat again. I'll be watching out for that next annual report -- should be entertaining.
Eugene (formerly at Spin factor)
Hi, Eugene!
DeleteYes, welcome also, Eugene :-)
ReplyDeleteJust got this interesting newsletter (on one of my old 'buyer' accounts) (I get them all the time, but acually never read them), seems big changes are coming:
===============================
€20,000 Ultimate Auction
Our Unique Bid and Xpress Gift Card Auctions are back for a limited time! Get your bids in before the auctions go offline permanently on March 28 at 23:59 UTC time.
The closing of the auctions is part of a whirlwind of exciting changes at DubLi that will include a brand-new subscription membership model and innovative features like DubLi Cloud and the Social Hub, which were just released this week.
DubLi Cloud is a state-of-the-art online storage space, and the Social Hub is your headquarters for news and social networking.
Look out for even more enhancements and additions at DubLi in the near future!
Since DubLi has entered the final phase of revolutionizing the world’s ultimate destination for shopping and entertainment, we decided to launch one last incredible Top Auction!
The fabulous €20,000 Ultimate Auction is the perfect way to commemorate this historic moment. What would you do with enough cash to fill a suitcase?
You could buy a new car, take a trip around the world or build that new addition to your home you’ve been planning. The possibilities are endless!
So don’t miss out! Bid now and you could be awarded the Unique Bid grand finale – the €20,000 Ultimate Auction!
===============================
Well, exciting times ahead, especially the soon expected anual finance figures :-o
So, Dubli is getting yet another "makeover".
ReplyDeleteThe dropping share price, and dropping web traffic is pretty convincing proof that their current model doesn't work. Mind you, how many iterations of Dubli have there been up to now? It would be interesting to know if the auctions they're shutting down are the same assets they tried to sell off to Agaani Music -- Personally, I assumed that they were trying to sell off their online music/entertainment portal that they unveiled a few years back, which Agaani were apparently involved with.
I wonder if it's a coincidence that Dubli always seems to try and reinvent itself into something that's a few years past being a new idea, and for which there are already dominant players with an almost unassailable position. For instance:
Original Dubli -- An alternative take on dBay, some years after the fact.
Dubli entertainment portal -- An alternative take on iTunes
Dubli social hub -- Facebook
Dubli cloud storage -- Numerous providers
One thing I miss from the Spinfactor is the Dubli partisans who tried to put a positive spin on the company's latest venture. Gene McNeally, where are you now?
Eugene
Ouch! Dubli loses 23% in it's market value in one day on high (for Dubli) volume!
ReplyDeleteHmmm -- maybe I should watch what I say.
ReplyDeleteI know that I said that I figured that Dubli's share price was dropping, and would probably drop back to where it was in early 2011.
I didn't figure it would do it all in one day!
I'm assuming that something has happened behind the scenes (insider trading again?), which has not (yet) spilled out to the world at large. Perhaps someone got an advanced look at the annual report...
Well, I guess we will know in a few hours, as they promised (in their most recent FORM 8-K/A) to release the anual figures on or before 15 feb:
ReplyDelete"The Company will be amending its Securities and Exchange Commission reports filed on or before February 15, 2013 on Form 10-K for the year ended September 30, 2012 in order to restate revenues from the sales of its electronic gift cards sold and the DubLi credits used on its Xpress auction to be net of the related cost of the gift cards."
Btw, Dubli B.A. Alan Breen expected revenue of close to 1 billion (yes, with a B) dollars in the 3rd quarter of 2012:
http://tinypic.com/view.php?pic=culjd&s=6
Oops! No announcement made yesterday.
ReplyDeleteMmmmm, and still no annual or quarterly financial reports....
ReplyDeleteHowever, I just found this latest and quite recent "DubLi Business Overview" from Feb. 18, 2013 on YouTube, presented by Dean Mannheimer, on Alan Breen's channel. Unfortunately the audio volume is very low, so you'll have to pump it up a bit.
I haven't yet watched/listened to it all the way, but here it is:
http://www.youtube.com/watch?v=9I6uO-gu_bg
It seems that particular video is deleted now, but you can see all the latest dubli-updates from DeanMannheimer/Alan Breen on Alan's Youtube channel:
Deletehttp://www.youtube.com/user/alanbp
I couldn't help noticing that most of Alan Breen's Youtube videos have only a few hundred views, and none of them have more than a thousand views.
DeleteThat's strange, given the millions of Dubli business associates that should be hanging on every word...
Heh, Dean Mannheimer claims that Chairman of the (Dubli) Board
ReplyDelete"Niels Burtenshaw Thuesen is referred to as the Warren Buffett of Europe".
Really? By whom?
Search google for "niels burtenshaw thuesen" + "warren buffett of europe", or for "warren buffett of europe" alone, and see what you get ...
I posted this as a quick comment at the video, but apparently my comment is "Pending Approval!" ... I wonder if it will be approved ...
Btw, in case you didn't know, this dubli BA info page is 'regularly' updated (roughly about once a month, or a little longer) with Update Calls/Overviews/Presentations:
ReplyDeletehttp://www.doa2z.com/
Btw 2, I updated the links to "other Dubli-critiques" a bit, in the upper left corner of the main page, and, among some other changes implemented, it now also includes a link to the dubli-network 'page' of a Germany-based MLM forum, in case you are or understand german.
ReplyDeleteBtw 2b, also included there now is an interesting link to the WOB (Web of Trust) Dubli site evaluation thread, where a Dubli company spokesperson ("DubliHQ") reacts to, and is met with, some distrust by the members of the MYWOT community.
ReplyDeleteBtw 3, remember the planned Dubli Golf & Beach Resort on the Cayman Islands? For what it's worth, here's some local-news links I recently came across:
ReplyDelete# dated 15 June 2012
"Little Cayman development plans: 'No way in Hell'"
(apparently now only accessable via the Wayback machine?):
http://web.archive.org/web/20120617160112/http://www.compasscayman.com/caycompass/2012/06/15/Little-Cayman-development-plans---No-way-in-Hell-/
# dated 7 Dec 2011
"Dubli developer’s jail sentence reduced"
http://www.compasscayman.com/caycompass/2011/12/07/Dubli-developer-s-jail-sentence-reduced/
# dated 23 Nov 2011
"Man involved in North Side golf course scheme jailed"
http://www.compasscayman.com/caycompass/2011/11/23/Man-involved-in-North-Side-golf-course-scheme-jailed/
# dated 12 August 2011
"North Side golf resort pitched to foreigners"
http://www.compasscayman.com/caycompass/2011/08/12/North-Side-golf-resort--pitched-to-foreigners/
Btw 4: recent uploads on the official "Dubli TV" site:
ReplyDeletehttp://www.dublitv.com/Video/Categories?message=%2FlL%2FZvJTDMWGCAPBstAKgQ%3D%3D
Btw 5, DubliNetwork also has an official YouTube channel:
ReplyDeletehttp://www.youtube.com/user/DubLiBerlin
... what's that? ... no less than 418 subscribers...? Now that's pretty awesome for The Next Game Changer In eCommerce and fierce competitor of eBay/Google/Amazon/Facebook/iTunes/etc. with many (tens/hundreds? of) thousands of BA's and many millions of customers, and that's been around for, what is it... 10 years now?
I made another update in the "other Dubli-critiques" part (upper left hand corner):
ReplyDelete# the previously mentioned german MLM forum link now goes via google-translate: german-to-english
# added a danish MLM forum as well, also via google-translate: danish-to-english
this forum seems to regularly have some active Dubli threads... beware the irritating pop-up thingy however, that you can click away...
On that danish MLM forum, some/many references to "Cash" in recent Dubli threads/posts apparently are referring to a consumer TV program with that name.... seems "Cash" recently had a (not entirely positive) topic about Dubli-BA activities in Denmark...
Dubli share price dropped to $0.13 today, with much higher than usual volume. Perhaps someone got an early look at the annual report?
ReplyDeleteI just saw the quote; a 25.6% drop in stock value on the highest volume of the past twelve months! I predict that the some bad news is forthcoming; possibly this week. I'm all a'twitter!
ReplyDeleteAnother very high volume day for Dubli, and the stock dropped to 0.12. It's not looking any better.
ReplyDeleteRemember Niels Burtenshaw Thuesen, "the Warren Buffett of Europe"?
ReplyDeleteWell, as of last Thursday, he doesn't work for Dubli anymore, due to "...other obligations": http://biz.yahoo.com/e/130328/dubl8-k.html
Yeah, I saw that, must be a heartbreak moment for Alan Breen, as he proudly mentions Niels in virtually all his YT videos.... not that there's ANY mention of Niels as "the Warren Buffett of Europe" on the global web AT ALL other than on Alan Breen generated pages or videos ;-)
ReplyDeleteAlso interesting are some previous correspondences between SEC and Dubli over at the SEC site (under titles like "UPLOAD" and "CORRESP", and apparently recently uploaded/included, in between newer and older filings) :
ReplyDeletehttp://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001097792&owner=exclude&count=40&hidefilings=0
Regarding Dubli BA Alan Breen (who seems to be in the same 'team' as Dean Mannheimer, as Alan is often joined by Dean (for the latest hot new 'inside' info) in the webcasts Alan presents):
ReplyDeleteAlan still appears to present factually wrong info in his YT videos, an example of which can be seen here in this screenshot from a March 9 video at his YT channel:
http://i45.tinypic.com/2qjarg1.jpg
4th Quarter 2011: revenue = $20 million
1st Quarter 2012: revenue = $49 million
2nd Quarter 2012: revenue = $151 million
3rd Quarter 2012: claimed revenue = $1.9 billion
While over at SEC, already on January 25 - 2013, a Form 8-K/A was filed by Dubli, which restated the first three of these financial results as follows:
http://www.sec.gov/Archives/edgar/data/1097792/000144530513000094/dublform8-kajanuary252013.htm
4th Quarter 2011: restated revenue = $2.83 million in stead of the earlier reported $20 million
1st Quarter 2012: revenue = $2.5 million in stead of the earlier reported $29 million (and not even the $49 million that Alan Breen wrongfully mentioned)
2nd Quarter 2012: revenue = $4.16 million in stead of the earlier reported $151 million
and of course we're still waiting for the long overdue financial results for the 3rd Quarter of 2012 as well as the total results for their 2012 fiscal year ...
Anyone want to guess if those results will be anywhere near the claimed and acclaimed $1.9 BILLION mark....?
Do Alan Breen and Dean Mannheimer ever bother to look at Dubli's actual SEC filings themselves?
Btw, will the Cyprus Euro-Banking crisis have any impact on Dubli?
ReplyDeleteRemember the dubli.com website and company are officially registered in Cyprus:
DUBLICOM LIMITED (DubLi.com)
17 Gr. Xenopoulou Street
3106 Limassol
Cyprus
And in Dubli's 10-Q form from August 2012:
http://www.sec.gov/Archives/edgar/data/1097792/000114420412044610/v317996_10q.htm
we can read:
"Cash in Foreign Subsidiaries
The Company has significant operations outside the US. {...} As of June 30 2012, the Company held $5.5 million of unrestricted and $1.5 million of restricted cash in foreign subsidiaries."
"Three of the Company’s foreign subsidiaries designate the Euro as their functional currency. The total amount of cash held by foreign subsidiaries, translated into U.S. Dollars at June 30, 2012 is as follows:"
Euro: $1,185,647
Aus Dollar: $94,616
US Dollar: $4,229,546
--------------------- +
Held in foreign subsidiaries: $5,509,809
How much of that money is held in Cyprus banks?
And how much will it cost Dubli?
"Bank of Cyprus haircut could reach 60%"
http://www.ft.com/cms/s/0/4a1bb1d6-9926-11e2-af84-00144feabdc0.html
Just a quick note: Dubli's fiscal year ends September 30th; not December 31st. They are way out of compliance and I'm sure it is because they are making money so fast they can't even count it! I mean think about it; one day you're counting 1.9 billion dollars on your mattress and then the doorbell rings and an armored car is out front with more billions wanting to drop it on your doorstep. You try to count that, too, and then another shows up. And it just keeps growing exponentially. That is the power of network marketing. By the way, who won the Bentley last year?
ReplyDeleteHow dare you Beavis! Scoundral.
Deleteadded in 'other Dubli-critiques' (top left corner):
ReplyDelete# Latest archived TheSpinFactor page at the Wayback machine (August 2012)
http://web.archive.org/web/20120815172927/http://thespinfactor.com/thetruth/2008/09/25/dubli-another-complex-scam/
Thanks for the link to the archived version of the SpinFactor page. I read through it last night, and relived a lot of interesting memories.
ReplyDeleteMmmmm, seems we have an answer to my question of how much the Cyprus banking crisis will cost Dubli....
ReplyDeletenew Form 8-K (23 april 2013):
"On April 23, 2013, the Company entered into a loan agreement with Michael Hansen, the Company’s CEO and controlling shareholder. The unsecured promissory note is for a maximum of $1 million which may be drawn as needed by the Company."
and
"the Lender, due to the impact of a financial crisis in the Republic of Cyprus, needs to cover a temporary liquidity gap;"
Funny how the most succesful and fastest growing company ever, with expected 1.9 Billion dollar revenue for the third quarter of 2012 (cf. Alan Breen), can't handle a tiny temporary 1 Million dollar liquidity gap without knocking on Mr. Hansen's door...
I was looking through the Wayback Machine archives and I saw that I predicted in 2010 that "the end was near" if they didn't get a cash infusion. Well, we all know they got enough infused to keep it afloat up to this point; however, I think the money is drying up. You don't run a public company and miss your filing for your annual report by close to half year (and counting) unless you don't want anyone to know how dire the situation is. Dubli has not filed it's 9/30/2012 annual report. It has not filed its 12/31/2012 quarterly or its 3/31/2013 quarterly. I think the lights could go out very, very soon :)
ReplyDeleteYeah wow, three reports not yet filed, seems we may see a repeat of the Pink Sheets drama soon again, like it happened earlier, in 2011:
ReplyDeletehttp://dubli-unofficial.blogspot.nl/2011/02/medg-now-on-pink-sheets.html
I guess they won't be listed on the prestigious Nasdaq anywhere soon either...
Unbelievable, Alan Breen is still claiming Dubli did well over a BILLION dollars in revenue in the 3rd quarter of 2012, and he is still claiming Dubli will soon be listed on the Nasdaq ... has this guy ever read Dubli's SEC filings?
ReplyDeleteAlan Breen's latest video, May 8 2013:
http://www.youtube.com/watch?v=S6HJx1uwRuI
Maybe he has access to the "secret, never filed Dubli financials that show worldwide, exponential growth in all things Internet". I hear they have their own cell phone/desktop/tablet operating system, a low orbit space ship (merely a stepping stone to the planned, permanent space station launch) and and have mapped Middle Earth.
ReplyDelete"DubLi, Inc. Launches Online Shopping Mall in United Kingdom" May 15th, 2013
ReplyDeleteWTF, Dubli "expands on global strategy" in the second largest market in Europe and I didn't know a thing about it. Where is the BBC, CNN and all the rest? Its as if no one cares; as if there is no importance behind Michael Hansen's statement that "With the online mall, coupled with world class travel portal, we believe that we can offer a superior experience in this market and quickly become the dominant player over time”. THE DOMINANT PLAYER , MIND YOU! AND FURTHERMORE. . . WAIT. . . OH, CRAP, I'M STUCK TYPING IN ALL CAPS!WHAT DO I DO? WHAT DO I DO? WAIT, WAIT, DON'T PANIC; THERE IS THIS THING RIGHT, NO THAT'S NOT IT, HERE WE GO, THere; got it. OK, back on track. One of these launches is actually going to work and won't all those news guys and gals be sorry they didn't report it first. Well, OK, they would have looked really silly had they reported all the other launches that amounted to pretty much nothing; but, one of these days they might regret. . oh, wait. . . Dubli is almost out of money. Never mind.
It appears that Michael Hansen is buying Dubli for 2.3 million dollars cash and the forgiveness of a $700,000 note owed to him. If he takes it private there will be no more public financials. On the other hand, its nice to see Hansen go all in. Hard to believe after all of these years the company is willing to sell for such a low price. I know of some mini-marts that are worth more (probably because they are profitable). You would think the land holdings in the Caymans would be worth that much in liquidation value and. . . oh. . . I get it now. I smell a fire sale! I wonder if I can get a good deal on some used office equipment from them. And there should be a Bentley or two kicking around that was supposed to go to the Senior VP's. I know, I want the rights to the Dubli Dubot character. I think there will be a big demand from soon to be ex-BA's for Dubli Dubot piñatas.
ReplyDeleteBeavis:
ReplyDeleteThat’s not how I interpret Friday’s announcement.
Michael Hanson just bought 30,000,000 shares of Dubli. But based on the market capitalization ($44,620,000) and the current share price ($0.12), that gives a total of 371,800,000-ish shares. So he just bought about 8%. Plus whatever he owns already, of course.
Also interesting is the announcement of the June 2012 quarterly results last week. A little late, admittedly, but still interesting to see. Based on this report, at the time Dubli was losing $3,000,000 per quarter, and this was a consistent pattern for the previous three quarters. Given that Dubli’s web traffic (via Alexa) seems to have fallen dramatically in the past six months, it doesn’t seem to bode well.
Some follow-up to the above -- According to information from Yahoo Finance (under "Major Holders" for Dubli), as of March 21st Michael Hanson owned 104,778,537 shared of Dubli. Combined with the 30,000,000 shares described above, that gives him 36% ownership of Dubli...
ReplyDelete...which is worth about 75% of what it was a month ago, as the shares closed below 0.09 yesterday.
Kees -- You might want to consider adding another website to your list above -- http://www.philleahy.com/2010/03/dubli-scam-or-new-way-to-make-money.html , which has some interesting accounts from former Dubli BAs about their experience with the company.
Thanx Eugene, interesting, link added
ReplyDeleteDubli closed at $0.06 today -- Half of its value in mid-June, a quarter of its value in mid-March, and an eighth of its share price a year ago. Based on this progression, we should see an all-time low of 0.03 by around mid December.
ReplyDeleteBut they really will be on the Nasdaq soon!
ReplyDeleteHonestly...
Really!
Press Release: DubLi, Inc. – Wed, Sep 18, 2013 7:19 AM EDT
BOCA RATON, FL--(Marketwired - Sep 18, 2013) - DubLi, Inc.("DubLi") (PINKSHEETS: DUBL), a global marketing company that provides consumers around the world with a variety of innovative online shopping, travel and entertainment opportunities, announced today an update on status of its outstanding SEC filings.
DubLi has announced its intention to file its outstanding Fiscal Year 2012 annual report on Form 10-K and subsequent Fiscal Year 2013 periodic reports on Form 10-Q and annual report on Form 10-K as the reports are completed in its ongoing plan to become compliant with SEC filing requirements. The Company is in the process of engaging additional SEC accounting professionals to assist with the preparation and completion of the outstanding annual and periodic reports. The Company is committed to its current plan of becoming compliant with SEC filing requirements in its continued effort to obtain a listing on The NASDAQ Stock Market.
There has been a big surge in trading in Dubli over the past few days, and the volume yesterday was an all-time record. Since last Wednesday, the share price has increased from 0.08 to 0.19 (with a peak at 0.22).
ReplyDeleteThe reason for this appears to be that the Dubli online shopping mall is now open in Russia. At least, that's the only thing that's been announced. Needless to say, there seems to have been plenty of trading going on in anticipation of the official announcement -- what a surprise.
Putin will hop on board just you wait. I think the Ukranian incursion is just to increase his downline.
ReplyDeleteBusiness magazines, websites and newspapers act as if Dubli doesn't exist. I'm confused by it all and wonder if I should pause before I invest my $3000. A guy told me it would be like getting on board with Amazon or Google when they first started. He also told me it was a secret because not everyone should be rich. Just me. What should I do? I believe Dubli will let me live in a big penthouse with lots of fancy cars with no effort. It's a no-brainer. What does anyone else think?
ReplyDeleteIt sounds like whatever else may have changed with Dubli in recent years, the BS lines they use to recruit suckers, sorry, associates are the same as they ever were.
DeleteYou guys still at the same old dope without much joy i suspect. Cant even read a balance book to save yourselves. The business is booming in Europe and global. Youy cant fault the marketing side but yoyu did and that was your mistake. You keep making the mistake but opportunities are slipping by as time goes on and you didn't consider that. Why waste time. try the business model. Millionaires are created every day morning anf night. In the US too. thats the scope of this thing.
ReplyDeleteAh ... Gene is back. Over to you Beavis.
ReplyDeleteAh ... Gene is back. Over to you Beavis.
ReplyDelete