FuboTV DD (First time making DD, please give advice)
I tried to make it easy to skip around if you just want to see the financials or estimates. Just scroll to them if you don't care what the company is or their sectocompetition/management. TL;DR at bottom with final thoughts. Introduction “FuboTV ($FUBO) is an American streaming television service that focuses primarily on channels that distribute live sports, including NFL, MLB, NBA, NHL, MLS and international soccer, plus news, network television series and movies. Launched on January 1, 2015 as a soccer streaming service, FuboTV changed to an all-sports service in 2017 and then to a virtual multichannel video programming distributor (vMVPD) model. As a vMVPD, FuboTV still calls itself sports-first but its expanded channel lineup targets cord cutters, offering a selection of major cable channels and OTT-originated features that can be streamed through smart TVs, mobile and tablets and the web. The service is available in the United States, Canada and Spain as of 2018." From their home page: They are the only competitors in their space of digital sports broadcasting, offer 4K streaming and upscaling of live sports, cloud DVR capability ranging from 250 or 1000 hours on standard plans, and is available on Roku, Apple TV, Amazon Fire TV, Chromecast, Samsung Smart TVs, Xbox One, Android TV, Android Smart TVs, and Android/iOS smartphones and tablets, with plans ranging from $24.99/month to $79.99/month (not including add-ons). They have also recently acquired one company and have made plans to acquire another to allow for in-house sports betting. They have stated in a press release that they plan to release a sportsbook before the end of the year. This will push them into a broader spectrum outside of only TV and sports streaming, and into the sports betting sector along with DraftKings ($DKNG), FanDuel ($PDYPY), and Penn National Gaming ($PENN). Plans and Add-ons FuboTV offers three standardized plans as of February 8, 2021: the Family plan is priced at $64.99/month (normally $75.97/month), Elite at $79.99/month (normally $100.95/month), and Latino Quarterly at $24.99/month, along with offering additional add-ons. Each plan offers a range of channels, cloud DVR capabilities (which allows fast-forwarding through commercials), and casting to multiple devices simultaneously. Only the Elite plan does not offer a 7-day free trial (Channels page). The Family plan includes 117 channels (mostly news and entertainment with roughly 40 that offer sports, including ESPN), up to 250 hours of DVR space, and casting to 3 devices at once. The quarterly prepaid includes a free upgrade to 1000 hours of DVR space and 5 casting devices at home with 3 on the go (Channels page). The Elite plan includes 164 channels (includes an additional “47 entertainment channels”), up to 1000 hours of DVR space, and casting to 5 devices at home with 3 on the go. This plan does not offer a quarterly prepaid (Channels page). The Latino Quarterly plan includes 250 hours of DVR space and can be streamed on up to 3 devices at once, but only has 32 channels. This plan needs to be prepaid every 3 months for a total charge of $74.97 and does not offer a monthly service (Channels page). Upgrades include additional DVR space--1000 hours for an additional $6.99/month for the Family and Latino Quarterly--and increased device casting--an additional 2 devices at home with 3 on the go for another $9.99/month for the Family and Latino Quarterly plans. You can also add a variety of channels and sports packages (the Latino Quarterly has fewer channel add-ons compared to the Family and Elite plans, which both have the same channel varieties). Sports Plus with NFL RedZone is an additional $10.99/month, but includes all professional and college sports broadcasting services for football, basketball, baseball, hockey, tennis, fighting, etc. (Channels page). Fubo has recently removed its former Standard plan, which included only 65 channels, up to 2 casting devices, and only 30 hours of DVR support for $60/month. Financials and Growth Fubo has yet to file an annual report as they have gone public in October of 2020, but they have filed a 10-Q for Q3 2020. All numbers in thousands. Assets- Between December 31, 2019 and September of 2020, assets have increased from $368,225 to $799,313 (a 117% increase) . Total current assets increased from $17,973 to $58,016, but accounts receivable decreased from $8,904 to $6,975--this may be attributed to the increase in prepaid subscriptions which increased from $1,445 to $12,177 which shows strong customer satisfaction and retention. Liabilities- Liabilities have increased from $145,049 to $290,376 (a 100% increase). The largest contributors to their liabilities are “Due to related parties” increasing from $665 to $85,847, “Warrant liabilities” increasing from $24 to $28,085, and “Accounts payable” from $36,373 to $61,679. Long-term borrowings have decreased from $43,982 to $25,905. Revenues- Subscription revenues increased by $53,433, totaling $92,945 for the year. Total revenues including advertisements and licensing have increased by $61,202, totaling $112,669 for the year and an increase of 47% YOY. Q4 revenue is estimated to be between $94,000 and $98,000 which would be a 77-84% increase YOY. Expenses- Subscriber related expenses total $114,315 for the year. Total expenses have totaled $500,249 for the year. Subscribers- Ended Q3 with 455,000 paid subscribers, a YOY increase of 58%, and plans to end 2020 with over 545,000, an increase of 72% YOY. Competition Its closest competitors are Hulu + Live TV (owned by Disney ($DIS)), YouTube TV (owned by Alphabet ($GOOG)), and Sling TV (owned by Dish Network ($DISH)). Hulu + Live TV
Includes league networks
50 hours of free DVR (200 hours for $9.99/month)
More than 74 channels
Unskippable ads on DVR without upgrade to 200 hours
2 streams at a time
$64.99/month
Can add ESPN+ and Disney+ for an additional $7/month
YouTube TV
Includes league networks
Unlimited DVR storage
More than 85 channels plus YouTube Red Originals
3 streams at a time
Sports Plus package for an additional $10.99/month
NBA LeaguePass for an additional $40/month or $119.99 annually
Starting at $64.99/month
Sling TV Blue
Includes league networks
DVR up to 50 hours (200 hours for $5/month)
More than 45 channels
3 streams at a time
Sports Extra package for an additional $11/month
Starting $35/month
Can be combined with Sling TV Orange for a total of $50/month
Sling TV Orange
Includes league networks
DVR up to 50 hours (200 hours for $5/month)
More than 30 channels
1 stream at a time
Sports Extra package for an additional $11/month
Starting at $35/month
Can be combined with Sling TV Blue for a total of $50/month
Merger with FaceBank for $100 million revolving credit
Analysts and Estimates Average analyst ratings put Fubo at a Buy to Strong Buy rating with an average price target of $45.50 with a high of $60 and a low of $30. EPS estimates are estimated to be -5.23 for 2020 and -1.64 for 2021. Currently has a short float of about 75%, but the short volume has been holding at roughly 15-20% over the last month and has drastically declined from its October short volume of over 50%. Originally valued at $700 million less than a year ago, a current valuation of $3.19 billion is respectable for this company and is on par for its current performance. Risks
Marketing fails and Fubo is never known as a household name, so consumers stick with other more known providers
Their sportsbook fails and becomes dead weight and wasted money
Subscriber count and streaming drops as quarantine lifts, reducing revenues while maintaining expenses
Consumers opt for cheaper options
People paying for the sports package cancel when the season is over, creating a boom and bust cycle if not managed correctly
Final Thoughts / TL;DR With its drastic growth over the last year (400% in the last 4 months), support from FaceBank and well-known investors, and plans to join the sports betting sector, FuboTV has potential to become a household name and grow well beyond its current valuation by combining both sports broadcasting and online sports betting into one convenient place. Although unlikely to overthrow any of the current forces, it can become the best live sports broadcaster that people can turn to when they cut cable but want to keep live sports. It has many hurdles to overcome (creating their sportsbook, better marketing, increasing subscriber count, etc.) before it is any real competition to its already established competition. At a $3.19 billion market cap and very high (75%) short interest, it will be very difficult to realize consistent growth, but it is on par for a company with almost $100 million in revenue. My Position 25 shares at $47.30 Edit: edited final thoughts/TL;DR Please provide feedback! First time actually researching and compiling information for a company and not just reading about them on here. Also, please ask questions to clear up any confusion; it was kinda hard to put everything together neatly, so I might have accidentally left stuff out or oveunder explained some things.
GME Short Squeeze and Ryan Cohen DD for Jim Cramer, The (Man)Child Who Wandered Into the Middle of the GME-Cohen Movie 🚀 🚀 🚀
The Dude:It's like what Lenin said…you look for the person who will benefit, and, uh, uh... Donny:I am the walrus. The Dude:You know what I'm trying to say... Donny:I am the walrus. Walter Sobchak:Shut the fuck up, Donny!V.I. Lenin!Vladimir Illanich Uleninov! Donny:What the fuck is he talking about, Dude? Hello again, GME Gang. What a fun day we had yesterday! Could it continue today? Only Melvin Capital (and maybe Ryan Cohen) knows! And an extra special hello today to our newest WSB lookie-loo, Mr. Cramer (Can I call you Jim? I’m gonna call you Jim). Now Jim, from what I’ve been able to gather, you and your Boomer stocks and your Hot Manic Takes don’t always get a lot of love around here. But that’s not all your fault, Jim. The Paste-Eating Rocket Kids are often good for a solid meme (FYI: it’s pronounced “Mee-Mee.” Feel free to use that on air without verifying). But the Rocket Kids can be a dense bunch and they’re also often one click away from Total Financial Ruin (Quick shout out to SPCE: Pleas fly again). So you have to dig a bit in here to separate the wheat from the chaff, as someone like you actually says in real life. What the fuck even is chaff, Jim? And why do all Boomers seem to think that folksy farm-based idioms are the perfect way to conclude a thought? Anyway. Those of us who watched your teevee clips last week where you reference your interest in WSB know that you, Jim Cramer, might be one of the Olds, but that you also Think Young(TM). https://www.thestreet.com/jim-cramestock-market-advice-moderna-boeing-fed-ftc-dec-15. So we’re going to do our best to help your young-thinkin’ brain find the Needle In the Haystack here so you can get All Your Ducks In a Row on GME. Because we know that you’re a long way from being Put Out to Pasture, and though you may be an out-of-touch millionaire prone to facile yammering, we now like you here, Jim—simply because you mentioned us and that made us blush a bit since we’re needy Millennials who just want our Boomer mommies and daddies to Tell Us They’re Proud of Us. So even though the Paste-Eating Rocket Kids here are often Buying A Pig in a Poke (Christ, please do not ever say that or the kids’ Mee-Mees are gonna fuck you up), we appreciate you recognizing that, every now and then, there’s something worth paying attention to over in this weird little pocket of the Interwebs. And since you’re actually telling your loyal single-finger-typin’ viewers to check out this WSB shitshow, and “if they’re running GME, then do some work on GME,” we assume you might actually be checking this shit out too, since all true Young Thinkers know that What’s Good for the Goose is Good for the Gander. Now, is the GME play as solid as your recent recommendation to buy Bed Bath and Beyond? Who knows? That seems pretty stupid, and I would look it up myself this weekend but my nice little Saturday is already pretty full so I don’t know—I don’t know if I’ll have enough time. But I’ll tell you one thing: the GME play is a lot more fucking fun. Life in a pandemic is boring, but here in this weird WSB place, these kids like fun. And for all your Boomer weirdness, you seem like you still like to have a little fun in this Mad, Mad world of ours. So consider joining us here more often. A word of warning, though: if you don’t like all the dern cuss words we use around here, Jim, well that’s just, like, your opinion man, and we’ll have you know that the Supreme Court has roundly rejected Prior Restraint. First thing’s first: we have a bit of a bone to pick with you (now there I go). The stuff you said last week about GME as the next Blockbuster was D-U-M dumb, Jim. You were a bit out of your fucking element with that. You even made our largest shareholder and conqueror-in-waiting, Mr. Ryan Cohen, send an emoji-only tweet in response, which if you know the super nice-guy Ryan Cohen like all of us do (we actually know nothing), that is pretty much the equivalent of him bringing his dog over to micturate on your and George Sherman’s rug. Now, I myself have never been into the whole brevity thing, but I wanted to take this opportunity to get you up to speed on the GME movie you’ve wandered into. And I know you’re down with this because you told all your viewers that if WSB is talking about GME, then “make sure you know GME.” So before you say something Absolutely Mad again and Cohen sends a tweet with an even less ambiguous emoji, it’s high time that you start Making the Sure here, Jim. Just consider this to be CPT Hubbard delivering you some Orange Sunshine and turning you on to some of that Sweet, Delicious Non-Chaff Wheat you love so goddamn much. Part 1: GME’s Bonkers-Ass Short Interest Now, I’m going to lead with the most crowd-pleasing part of the story here (Get ready, Rocket Kids!), and it’s the one that you did not even seem remotely familiar with in your “Stay out of GameStop, Deadbeat!” rant last week. Maybe that was by design or maybe not. We’ll return to that, Jim. But the point here is: the short interest here is batshit insane. And not just your garden variety Boomer in Rolled Up Sleeves Ranting About Buying Estee Lauder While Hitting Buttons On The Beep-Bop-Boop Machine kind of insanity. Really and truly fucking nuts. So to TL/DR this shit for you, Jim (to use the parlance of our times): GME is themost shorted stocktrading today—by far. https://financhill.com/most-heavily-shorted-stocks-today How shorted? Well, the value of shares short exceeds the market cap of the company; there are currently more shares short than the total number of shares outstanding. And when factoring in the institutional and insider ownership, the total short percentage of float is nearly 300%. https://www.gurufocus.com/term/FloatPercentageOfTSO/GME/Float-Percentage-Of-Total-Shares-Outstanding/GameStop-Corp Even higher, actually, now that Cohen’s interest is over 10%. Now, I’m not a numbers whiz like you, but that level of short interest and the small available float seems pretty fucked up to me. Like: “how is that even legal?” fucked up. And just for a frame of reference, the third most shorted security right now is your beloved Bed Bath and Beyond, with a short percentage of float at a nice and tidy 69%. Are you starting to gather why some of us in this weird little pocket of the Interwebs are a little excited about GME? You see, as u/Jeffamazon and RodAlzmann u/Uberkikz11 and others have explained in these here corners and on the twitter machine with their top-notch DD, and as I will translate to you in lingo you can dig, the short sellers got way over their skiis on this one expecting a bankruptcy in Spring of 2020 that never came. And yet, amazingly, the short interest has only increased since then—there has effectively been no covering in the aggregate and, in fact, the short percentage has only gone up. And now, on the threshold of 2021, we all sit atop a massive powder keg wondering what is going to be the thing that finally lights this shit up. And at the end of this little missive, I’m going to tell you what I think that thing might be (Spoiler: It’s Ryan Cohen! Better start getting used to seeing his name, Jim, because this dude does not fuck around and he’s not going anywhere). https://www.reddit.com/wallstreetbets/comments/k4csaa/the_real_greatest_short_burn_of_the_century_part/ https://twitter.com/RodAlzmann https://thecollective.finance/2020/10/gamestop-gme-a-squeeze-to-44-from-14-can-be-justified-fundamentally-100-of-the-shares-are-short-watch-out/ Part 2: GameStop Isn’t Going Bankrupt and People Actually Want to Buy Shit There So, you foul mouthed little prick, a bonkers-ass short interest is neat and all, but why is Jim Cramer wrong when Jim Cramer compares GME to Blockbuster you might be asking yourself in the third person. First, the most obvious answer, Jim, which you should fucking know already: Blockbuster was nearly $1 Billion in debt and missing debt payments left and right when it was delisted way back in 2010. That was also when there was a bit of a credit crunch, if you recall, right after that whole Housing Crash Unpleasantness that you saw coming from a mile away and from which you made hundreds of millions of dollars due to your contrarian foresight—I’m sorry, I’m clearly confusing you with Christian Bale starring as Dr. Michael Burry, weirdo head of Scion Asset Management, which also holds about 1.4M shares of GME (You really gotta start looking into this stuff, Jim. This story is made for TV, man—and you Boomers were raised by TV and you turned out TV!). Also, in 2010 when Netflix is ripping and when Blockbuster was about to be delisted and bankrupt, an analyst noted the obvious fact that Blockbuster had “nothing on the horizon that makes it look like Blockbuster is going to be more profitable.” https://www.reuters.com/article/us-blockbusteblockbuster-wins-debt-reprieve-forced-to-delist-idUSTRE66052720100702 But Jim, if your Blockbuster comparison has any plausibility, GameStop must have a major debt problem then, right? And yet just last month GameStop repaid $125M in debt several months ahead of time. It’s also really weird that over the past year management bought back a ton of shares, taking the OS from 102M down to just under 70M (making a short squeeze even more likely, my Rocket Children). The weirdness continues with a soon-to-be-bankrupt company holding almost $500M in cash on hand. And according to George Sherman’s “Thine Omnichannel Shalt Be The Omni-est Channel of Them All” Conference Call following Q3, by March 2021 GME will have retired a total of $500M in debt and returned $200M to shareholders through stock buy backs. I’m no expert here, and I do not presently own a Beep-Bop-Boop Machine, but that’s all pretty weird shit to be doing if you’re about to go bankrupt. No, no – I get it: who the fuck actually looks at balance sheets anyway before spouting off about what a stock is going to do? I sure as hell don’t. That’s why I follow my man u/Uberkikz11, since that dude is a GME DD Encyclopedia and was born to crunch numbers. No, when Really Smart People make the Blockbuster comparison, it’s usually just Mouth Sounds for: A B&M Store That Used to Be Popular But Now Is Not Because Technology, QED. But here even the Really Smart People might be missing something as well. They’re right in the sense that GME must use this new console cycle window and cash influx to quickly pivot to a tech-first gaming company (more on that and our boy RC shortly!), but they’re wrong on the timing and relevance of this Super Smart Insight. So fine, they’re doing ok on debt and cash. But who even goes to that 90s-Ass-Looking Cluttered Mall Geekery anymore anyways? I confess: in my darkest moments, as the short sellers manipulate the fuck out of this stock and I curse the names Bell and Sherman, I too have wondered this. But it turns out that, just like I have no idea why anyone listens to Maroon 5 or eats at Applebee’s, apparently a lot of people in America do shit that I do not. Crazy huh? So here is some pretty neat data showing us how out of touch we might be here, Jim: First, when a pretty large sample size of people were recently asked the question: which of the following stores or websites do you plan to buy holiday gifts from? The #5 response from United States Americans was none other than GameStop (Ticker, Jim: GME). Only Walmart, Amazon, Target, and Dollar Store (poor people buy gifts too, Jim) were ahead of little old GameStop. That’s higher than Nike, Macy’s, the Apple Store—and double the response of Bed Bath and Fucking Beyond in every category they surveyed. Check it: (h/t to my man u/snowk88) https://stocktwits.com/snowk88/message/260983915 That’s kinda crazy huh? See Jim, when you Think Young(TM), you really can learn something new every day. And by following our man u/snowk88 (@snowk88 over at stocktwits), I learn lots of cool shit. But guess who already knew that? The guy that wrote this bad-ass letter that identifies GME’s brand and customer data as being one of the most valuable things GME has going for it. https://s.wsj.net/public/resources/documents/RC_Ventures_Letter_to_GameStop.pdf So now we know that Real Life People actually buy shit at GameStop here in the year of our lord 2020. But like that analyst from 2010 said about Blockbuster, there must not be anything on the horizon for GameStop to be more profitable in 2021, right? Now, I will admit that being a bit bearish on GME in December of 2020 would make more sense if, say, GameStop were the nation’s largest purveyor of limp and half-lit pumpkin spice-scented candles and we were exiting the apogee of Shitty Candle Season. But as it turns out, GameStop is currently selling basically the most sought-after items that exist in the marketplace right now—where demand for the Xbox and Ps5 is far outpacing supply and is projected to continue well into 2021. https://www.gamesindustry.biz/articles/2020-11-17-microsoft-expects-xbox-series-x-s-shortages-until-q2-2021 I don’t really need to get into the details on that here, because it’s pretty goddamn obvious, but I think 2020 GameStop at the precipice of a new console cycle might be in a bit of a better position than, say, 2010 Blockbuster relying on the latest Adam Sandler release to lift its sagging rental numbers. But I don’t know. Millions of people don’t watch my show looking for Candid Analysis from me and my folksy man-of-the-people-lookin’ rolled-up sleeves. Part 3:Ryan Cohen is the Sword of Damocles Hanging Over the Short Sellers’ Dumbass Heads And now we’ve gotten to the best part. It’s my favorite part of all of this, Jim, and if you give this a little time, I think it will be yours too. You see, all that corporate bla bla bla about balance sheets and console cycles and early debt repayment and overleveraged short sellers and brand recognition is neat and all—and definitely worth a second look by itself. Maybe even a little Beep-Bop-Boop on the ol’ sound machine—I don’t know your methods. But the real thing that’s about to rip all our faces off here is the business and investment decisions of a mild-mannered wunderkind named Ryan Cohen. Now you can revisit my prior epistle if you want to know a bit more about the involvement of Mr. Ryan Cohen in Le AffairGameStop. https://www.reddit.com/wallstreetbets/comments/kakxrm/gme_tribe_a_story_about_how_ryan_cohen_is_about/. My fly-by-night theory of his lawyer’s possible use of the consent solicitation could have probably marinated for another day, but the thrust of my argument there was that Cohen and his attorney have been laying the groundwork to come after GameStop for a while now. And that Cohen was likely emboldened by the humiliating, lame-ass CC performance by some dude with a mid-century comic-strip sounding name that we’ll all soon know only as: The Guy With the Punchable Face Who Used to Be CEO of GameStop. But here is where things get really interesting. This is a story in the making, Jim, for fucks sake - take notes! This Monday, on December 21, Mr. Ryan Cohen filed a revised 13D showing that last week he started buying a shit-ton of shares—starting on Tuesday December 15th—which is the day after the stock price inexplicably plunged on Monday the 14th and the very same day you were yammering on the teevee about GME being Blockbuster! Instead of listening to you, however, Cohen started buying more GME shares (super-sleuth dark pool watchers u/rgrAi and u/snowk88 noticed in real-time that there was some very large accumulation taking place), which culminated in the big reveal that Cohen purchased a total of 2,501,000 additional shares last week—500,000 of which were purchased on Friday December 18, 2020 at the price of $16.02 a share. Ryan Cohen is still the single largest shareholder of GME with 9,001,000 shares in total, taking his ownership of GME above the 10% threshold from 9.98% to 12.9%. And so he apparently thinks that the floor for his investment is $16.02 per share. Is he still buying? We’ll know soon. But yesterday seemed like a little taste of what it might look like if a large buyer steps in to prevent short sellers from manipulating all of my nervous little Rocket Children here and their delicate little paper hands. There was another thing we learned from this 13D filing: Ryan Cohen has apparently hired a new attorney and law firm. Instead of the great Christopher Davis of Kline Kaplan, now Ryan Cohen is represented by Ryan P. Nebel, a partner with Olshan Frome Wolosky, LLP. Now, if you’re familiar with my prior ramblings, you might wonder if I was a bit confused, and maybe even a little sad, at this sudden change from my man C. Davis. And you might be a little right. But then the wonder of the internet allowed me to learn a bit about these new lawyers. And holy shit, things are about to get fun. Now, I liked what I knew about Chris Davis and he seems like a genuine bad ass activist attorney. But the folks at Olshan Frome and Wolosky, LLP are Next Level Players and really seem tailor-made for this exact situation. First off, Olshan is ranked as the top global lawfirm for Activist Attorneys. https://www.olshanlaw.com/assets/htmldocuments/Bloomberg%20Activism%20League%20Tables%20H12020.pdf (H/t @flummoxed at stocktwits). They seem to be the go-to law firm for major proxy battles initiated by activist investors. But possibly even more important is that Olshan is the same firm that represented Hestia and Permit in their successful proxy battle earlier this year to appoint two new directors to the GME Board. I’m not going into the fine details of that, because this is already a bit of a long-form Idiot’s New Yorker article, but GameStop just went through a proxy fight last year with Activist Investors Hestia Capital and Permit Capital, which resulted in two Board seats for our shareholder buds from Hestia and Permit. So, it’s reasonable to assume that the attorneys at Olshan might know their way around GameStop at this point and where the pressure points are here. http://www.globallegalchronicle.com/hestia-capital-and-permit-capitals-two-new-directors-to-the-gamestop-board/ https://www.olshanlaw.com/resources-mentions-HestiaCapital-PermitCapital-GameStop-BoardofDirectors-ShareholderActivism.html And if you follow u/snowk88 over at stocktwits (@snowk88)— you’d also find a wealth of DD on how Olshan rolls when entering these activist-investor-replaces-dumbass-boards-and-CEOs type disputes. To bottom line it: they get it fucking done. https://stocktwits.com/snowk88/message/266158534 https://stocktwits.com/snowk88/message/266155112 https://stocktwits.com/snowk88/message/266153175 But what else did we learn from the 13D? We learned that Ryan Cohen is definitely not going anywhere any time soon. Specifically, the filing notes that RC Ventures intends to continue to engage in discussions with GameStop’s board “regarding means to drive stockholder value, including through changes to the composition of the board and other corporate governance enhancements." And while RC Ventures “desires to come to an amicable resolution with [GameStop, it] will not hesitate to take any actions that it believes are necessary to protect the best interests of all stockholders.” I really like that last part, don’t you? And although I thought his November 16th letter was pretty goddamn clear, this 13D just ratcheted up the transparency level here. In sum, Ryan Cohen has all of our backs and he’s going to replace this Board and Sherman with people that are on the level and that will help implement his vision. And now seems like a good time to return to those “Ryan Cohen: Boy Genius” articles that were definitely NOT part of a well-coordinated pre-hostile takeover media campaign initiated earlier this year. I think there might be a few things in those articles that Mr. Cohen wanted all of us shareholders (as well as the short sellers and the Board he’s about to replace) to really and truly understand. Recall also that Cohen is not one for diversification or for playing it safe. So here’s a few choice nuggets for you to ponder: *** Bloomberg, June 2020: https://www.bloomberg.com/news/articles/2020-06-05/chewy-founder-cashes-out-bets-on-apple-wells-fargo · "It's too hard to find, at least for me, what I consider great ideas," he says. "When I find things I have a lot of conviction in, I go all-in." · Cohen uses the word “conviction” a lot. He says it’s something he learned from his father, who ran a glassware importing business in Montreal where Cohen grew up. “He taught me how to block the noise from the masses,” says Cohen. “To have a point of view and have conviction and not waver.” · He wouldn’t, however, recommend his [non-diversified] investment approach to everyone. “You need to have the temperament to block the noise,” he says. “Sometimes it feels like a roller coaster.” · He likens his obsessive focus on building Chewy to his approach to stock picking. "I don't want to swing for a single," he says. *** You hear that, Jim? Our man Cohen likes idioms too! But fuck those farm idioms, Jim – we’re upgrading to the Sportsball kind now. So what’s the takeaway here? I’d say that Cohen has his Eye On The Ball and that it’s time for all short sellers and the Board to Throw in The Towel because Ryan Goddamn Cohen likes to Take the Bull By The Horns and will ensure that he Hits a Homerun for shareholders that believe in his vision. Here’s a few more things Mr. Cohen wants all of us to know: *** Forbes, August 2020: https://www.forbes.com/sites/zackfriedman/2020/08/16/entrepreneur-chewy-founder-ryan-cohen-shares-his-best-advice/?sh=41e1370e5840 · “For me, each no sounded like they just didn’t understand my vision. It was frustrating at times, but never discouraging. Those ‘no’s never made me doubt my strategy – it was the opposite. I was motivated by all the rejections and they just got me fired up.” · “I understood that thinking big was likely going to be misunderstood along the way. I’m contrarian by nature, so being misunderstood often validates what I’m doing. It wasn’t until Chewy boxes were on doorsteps across the country that the bulk of investors started to recognize our formula.” · “[M]y biggest risk would have been not taking risk. The risk of going head-to-head against Amazon. The risk of insourcing fulfillment. The risk of building a company in Florida rather than a popular tech hub. The risk of spending $3 million a month on TV ads, more than Home Depot HD -0.1%'s budget. The risk of hiring expensive executives even though we weren’t profitable. These decisions were some of the most controversial and required me being comfortable betting against conventional wisdom, and were often contrary to the advice of my board. Suffice it to say, I was not the most popular board member.” · “Dad never swayed when he believed in something. I never compromised my vision, regardless how many investors turned me down I was not going to give up on building Chewy into the world’s biggest online pet retailer. I love to be challenged, and I’m flexible on details, but I’m never willing to give up.” *** Goddamn it, Ryan. I was done having children but now you’ve forced me into getting back on that train just so I can name this future child Ryan Fucking Cohen. Thanks a lot, asshole. But to return to my point: are those the statements of a man that seems likely to walk away at this point? Or is Cohen trying to tell us all to get ready because he is going All In on this shit? So where does this leave us? After a huge week where Cohen buys 2.5M more shares and then the SP skyrockets to $20 yesterday on that news? Well, this is where I want to tip my cap to my man Justin Dopierala over at Seeking Alpha and allow him to conclude this section. He, along with his pal Dmitriy Kozin have been pretty clear-eyed on all this shit for a while now and they both deserve some credit. And I know I gave my main man Justin a bit of a hard time in my last novella, but the dude is sharp as hell and helped a lot of us see the forest through the trees here. And you should also definitely invite him to join your poker nights (seriously: check out the dude’s tweet in response to our own Rod Alzmann’s introduction of the #WeWantCohen hashtag right after the Q3 call debacle). https://twitter.com/DOMOCAPITAL/status/1336446055685230592. You have no comment on a potential takeover involving Ryan Cohen, Justin after your hour-long googly-eyed call together? Can’t believe you’re just preemptively leaving the WSJ and Bloomberg hanging like that. Justin, I love you dude, but if I’m holding pocket Kings I’m folding after that tweet because that twinkle in your eye lets me know you’re about to drop two Aces on my ass. Anyway. Here is what our man Dopierala thinks might happen here soon (and he called this way back on November 17th- and sorry - no links here, per the mods, as apparently no Alpha must ever be Sought from these parts): I think a very likely outcome at this point is a majority slate next shareholder meeting where Cohen takes over BOD and then makes himself CEO. A majority slate proxy battle would require all institutions to call in shares and would force a squeeze. We’re intrigued, Justin. Please continue: If Ryan Cohen successfully negotiates a purchase price with the Board then the shareholders will have to vote on it. Unlike the proxy battle where Hestia and Permit were running a minority slate of directors, an offer to purchase GameStop would force institutions like Vanguard and Blackrock to call in their shares. By doing so, the shorts would be forced to close out their positions and GameStop would finally have the greatest short squeeze of all-time. Ironically, Cohen could use this opportunity to sell all of his shares and use the proceeds to entirely fund the acquisition of GameStop going down as the first person in history to acquire a billion dollar company... for absolutely nothing. In fact, his acquisition price would be less than zero. And now is when I get to speculate on what I think is going to happen here. But I do not necessarily think Cohen is going to put an offer to buy GME to take private. That would definitely trigger a MOASS, but I’m not sure I see it given the attorneys he’s hired and his recent buys up to $16 and the amount of cash that would take. Like Dopierala’s first comment, though, I think Cohen is going to nominate directors to replace nearly the entire Board of Directors with a vote happening at the annual meeting and once that Board is in place, they’ll appoint Cohen as CEO. And as Justin notes, if he nominates a majority slate of directors, shares will have to be called in to vote. And this vote and proxy battle will make the prior minority slate Hesita/Permit battle, and the tiny short squeeze that took place when that happened, look tame by comparison. Now everyone: get your calendars out. Because the date to nominate directors here is in Mid-March, and my super-smart corporate lawyer buds inform me that it’s standard practice to file about 7-10 days prior. So, if this actually happening, we should be seeing something on this by early March. But even though early March is now the mark on the wall, today’s insane price action caused me to think about all of this a bit harder and speculate a bit more. And a major h/t to my buds on the stocktwits board, especially u/rgrAi (@amarbar) for all the sharp analysis on this. But if you were Ryan Cohen and you knew this company was hugely undervalued and you had a high level of CONVICTION here and also knew you needed shareholder votes to sweep out these dumbasses and implement your vision—then how would you play this with the short interest here as crazy as it is? I’d keep buying. Why? Well, lots of reasons, you smart alecks. First, so I have more guaranteed votes (duh?). Second, so that when the building starts burning and short hedge funds run for the exits they find that a mild-mannered Millennial with super-good ideas has sealed off all the doors and windows. That’s gruesomely delicious, isn’t it? Why else, CPT? Well, finally, and maybe most importantly, because I would want to excite and delight all my fellow shareholders by triggering a slow-burn short squeeze, raising the SP significantly, so that I can once again make the point (as he did in the Nov 16 letter) that the incompetent management that caused a HUGE drop in SP following that utterly incompetent Q3 call and the shelf registration, had nothing to do with the SP increase that again happened once Cohen announced his intent and started buying. Not the console cycle, not the cost containment measures, not the buybacks and not the early debt reduction. Nope: rightly or wrongly, shareholders will see Ryan Cohen buying shares and the corresponding SP increase and everyone—especially all new buyers who are delighted at their good fortune and swept up by Ryan Cohen Fever 2021—will start getting #WeWantCohen tattoos on their ass they’ll be so happy. And all of us, newly enriched by Ryan Cohen’s Big Canadian Balls and tactical brilliance, will crawl over glass to vote for him over The Boomer Artist Formally Known As GameStop’s CEO. I could be very wrong on this last point in particular, but if we start seeing 13Ds drop here shortly, things should get very fun very quickly. Part 4: A Return to Our Short-Squeeze-to-Da-Moon Discussion: Who’s Side Are You Fucking On, Jim? Now, Jim, given the fast friendship we’re creating here, and all we’ve been through over the past 5000 words, I hesitate in bringing this up. But we’ve all seen the video, Jim. You know the one I’m talking about. Yes, the one where you actually tell the truth about how short selling hedge funds manipulate the market to knock down the price of perfectly good securities that many hard-working people invest in—many normal-ass people all assuming they wont ever have to Point Where On The Dolly The Invisible Hand of the Economy Touched Them. But that’s not life now is it Jim? And fuck those poor-ass rubes for not knowing how to play the game with you sophisticated Masters of the Universe, amirite? https://www.reddit.com/dashpay/comments/93evx4/jim_cramer_reveals_dirty_tricks_short_sellers_use/ https://dealbook.nytimes.com/2007/03/20/cramer-market-manipulato So where are you in this whole GME/Cohen story, Jim? You candidly (gleefully?) acknowledge that a prime strategy that shorts deploy is to spread negative rumors that are then amplified by Big Smart Trustworthy Financial Media Titans like yourself to shake out unsophisticated retail players like my Rocket Kids here—who because of their tiny paper hands and you mean short selling brutes often subsist on paste and paste alone. So for this particular security, are you the one helping with the manipulation and actively creating the “new truth” or are you just one of the Useful Idiots that these short sellers use to manipulate with an anodyne, TV media-ready comparison like: GameStop Is The Next Blockbuster? And how in the fuck does this fit into your Think Young(TM) project, Jim? Because if there is one thing that we over at WSB fucking hate, it’s a bunch of Manipulative Short Selling Boomer Fuckwads. Why on earth would a hip Young Thinker like you want to be included in that crew, Jim? And I know we’re all friends here now, Jim, but I need to push back a bit on some of what you said in that video in such a cavalier whatareyagonnado manner. So if I understand you, short and distort and fomenting negative reactions from retail players based on deliberately false narratives is illegal, but still easy as fuck to do "because the SEC doesn't understand it." But you fucking do understand it, Jim! So why are you helping those short and distorters break the law here? Why are you being such an obtuse dumbshit? Just check out what happens to the borrow rate and short selling every time there is any good news for GME: https://stocktwits.com/Slantedangles/message/264519950 (h/t @slantedangles). This manipulation isn't just happening with GME; it is happening everywhere. It’s baked into the cake. And that is pretty fucked up that we all just accept it because whatareyagonnado. I think that one thing that those of us who truly do Think Young(TM) have a hard time understanding is at what point in your lives do you Boomers all finally come to realize that it’s maybe time to stop playing the game like you have been? What point do you finally have enough where doing the right thing matters more than getting paid? Maybe start by telling the truth more often—and maybe don’t go out of your way to help those corrupt-ass hedge fund managers who continually fuck over average people merely because they were stupid enough to believe you all. What contempt you Masters of the Universe have for all of them—for all of us. There is a bigger story here on GME and this out-of-control short interest (naked shorting, counterfeit shares) http://counterfeitingstock.com/CS2.0/CounterfeitingStock.html than even Ryan Cohen and the inevitable short squeeze we’re about to witness here. And it begins and ends with people like you and Melvin Capital and Bank of America not giving a fuck about the rules while thinking you’re smarter than the rest of us who do—but who lack power to do anything about it. And you know what? Maybe you are smarter than us. You certainly know how to play this game pretty well, as that video shows. But if I know my old school 1980s movies like I think I do, this is usually the part of the story where the rag-tag kids from across the tracks come over to show you hubristic rich fuckheads what happens when you fuck a stranger in the ass. Now I myself have never dabbled in pacifism, Jim, so this isn’t too much of a stretch for me, but seeing that video of yours and seeing the insane short interest and all the manipulation here makes me want to burn the whole corrupt system to the ground—while barricading the doors to trap in those arrogant-ass short sellers who lie and cheat and distort to profit off average people. And though I’m certain that this larger battle is not driving him, maybe that result is one that Ryan Cohen wouldn’t mind too. Though he’s a polite Canadian and would probably just let everyone know that he’s not really mad, just disappointed. But me? I’m an Angry American and I say: Block the fucking doors and windows and light that shit up. So maybe this epistle will be useful for your Think Young(TM) project and cause you to reflect a bit more on what’s really going on out there with this whole GME thing and the likely illegal shorting that has driven the short percentage of float to these insane levels, drawing in new retail shorts too stupid to know what’s even happening. Or maybe it wont cause you to reflect in the slightest (count me as one of those cynical types that see your overtures to WSB as a transparent play for greater market share from the Young Crowd since your old-ass audience is dying and/or switching to bonds). But in a few months when all the Billy Ray Valentines and Louis Winthorpes assembled here are toasting each other in stupid shirts on a white-sand beach somewhere, we do not want you to look back on your knee-jerk boomer-ass dismissal of GME and your Useful Idiot blathering with that same tinge of regret and longing you feel when you look at a pre-Client 9 picture of you and your old roomie: warm-toes-and-hosiery-enthusiast E. Spitzer, Esq. In conclusion: GME = Blockbuster comparisons are for Simps and Corrupt Short-and-Distorters. Don’t be like them, Jim. And to my Rocket Children: the only weapon we wield in this stupid game is Diamond Hands with a float like this. Toughen the fuck up. And Happy Holidays everyone. --CPT Hubbard TL/DR: Jim Cramer likes farm-based idioms and apparently being a useful idiot to scummy short selling hedge funds. DD on the GME turnaround is solid and overleveraged short sellers should be shitting themselves. Ryan Cohen, our polite, hard-working Canadian benefactor is about to rip all our fucking faces off and trigger a MOASS. Probably even by early March, if that time is good for you (he’ll text before he comes). And fuck infinite regress: It’s rockets all the way down here. 🚀🚀🚀 Now: diamond hands, motherfuckers. **This is a shitpost and is only to be used as investment and life advice for Mr. Jim Cramer, Esq.
Source: https://www.bungie.net/en/News/Article/49853 This week at Bungie, the Crow has found a new nest. Hello, and welcome to the second TWAB of Beyond Light. We’ve got a bit to cover today, so we won’t spend too much time on introductions. Season of the Hunt kicked off proper on Tuesday. If you haven’t jumped in just yet, we have some wonderful web lore to get you prepared. I wasn’t mentally prepared for part 2...
Wrathborn Hunts have begun. We still have the Deep Stone Crypt Raid, The Dawning, Trials of Osiris, Iron Banner, and more to look forward to over the course of the Season. First stop: The raid.
On Your Marks. Get Set. Raid.
Season of the Hunt isn’t the only thing making its grand entrance this week. At 10 AM PST on Saturday, November 21, the Deep Stone Crypt will become available. Video Link We’ve talked through Contest Mode, shown off some fancy rewards, but we wanted to get in a final reminder before the show begins. World First Verification Timeline Once the raid has been conquered, we will announce that the activity has been completed from @Bungie on Twitter. After this, our teams will start diving into the data to verify that the first completion was clean. Our hope is to be able to announce the winners shortly after World first, but we want to ensure our validation efforts are sound. Ultimately, our goal is to have a post congratulating the winning team on Monday, November 23. Contest Mode Reminder and a Quick Stasis Update Full details on Contest Mode can be found in the This Week at Bungie – 10/15/2020 article. Quick bullets that all should be aware of:
Contest Mode will cap all players at 20 Power below each encounter for 24 hours.
Artifact Power will be disabled during Contest Mode.
Your team’s Power Cap goal is 1230 for all the encounters.
Being above 1230 will not provide any additional advantage in the final fight.
Earlier this week, an issue was discovered where Stasis was doing large (and we mean insanely huge) amounts of damage to bosses. The team worked at lightning pace to develop a fix for Destiny 2 Hotfix 3.0.0.3, thus preventing impact to the upcoming raid! We have a few more notes on general Stasis balancing later in the TWAB, so keep reading if you want to know more! This may not be a piece of Contest Mode, but we wanted to make sure to call this out for those who may have seen an interesting video or two over the last few days. There Will Be Loot Now, it wouldn’t be a race if there wasn’t something on the line. While many of you may have seen these rewards on our Instagram or even a preview on the Bungie Store website, we wanted to make sure to show these off in a TWAB before the raid released!
World First Raid Title (don’t call it a belt) The first Fireteam of 6 to complete the Deep Stone Crypt raid will be declared World First by Bungie from @Bungie on Twitter after verification from our analytics team. Official rules can be found here. Image Linkimgur Day 1 Raid Emblem Complete the Raid within 24 hours with Contest Mode active (by 10 AM PST on Nov 22) to unlock this unique emblem. Image Linkimgur Jacket Quest: Parka Edition Complete the raid by 9AM PST on December 1 to unlock the Bungie Rewards Deep Stone Crypt Raid Jacket for purchase. Image Linkimgur Additionally, there are two deadlines that players should be aware of:
Deadline to Claim Reward Code: December 31, 2020 9 AM PST
Deadline to Purchase: December 31, 2020 11:59 PM PST
…and for those of you who may not be racing, who will you be watching?
See you Saturday. It’s going to be a blast.
Securing the Entrance
Our Security team has been working on a variety of projects to sharpen our tools for cheat detection. In the coming weeks we’ll begin rolling out a new security measure for newly created accounts on PC. Our hope is that this deters some players from breaking the Code of Conduct. For a quick explanation of what’s coming, our friends from the Security team will be taking the stage to walk you through the process of SMS verification.
What is SMS verification? Bungie is implementing a quick account validation step for free-to-play players who want to access our high-stakes PvP modes in Destiny 2 on PC. Free-to-play accounts (PC only) will need to link and verify a cell phone number to their accounts via Bungie.net before being able to access those activities. What activities are high-stakes? Trials of Osiris, Iron Banner, and Competitive PvP playlists are examples. As this feature rolls out, we will be looking to how it can grow, and potentially expanding it to alternate activities in the future. Why are we doing this? Unscrupulous players can negatively impact everyone’s gameplay experience and undermine the hard-earned achievements of others. Bungie takes the threat of cheating seriously. We will continue implementing systems to help verify that accounts engaging in Destiny 2 activities are honoring our Code of Conduct and Terms of Service. What do you need to do? If you are a free-to-play Destiny 2 PC player you will receive a notice in-game the first time you try to access a protected activity. This will provide you with a “Verify Now” link to follow to Bungie.net and process your SMS linking. When you enter your cell phone number and request a verification code you will receive a quick text message with “Bungie Code: ######”. Once you enter that code on the Bungie.net page to complete your verification process you can sign back into the game to get immediate access to the activity you want to play.
Once this feature is live, free-to-play PC players will see an image in-game which will walk them through the signup process. For announcements regarding this security rollout, please follow @BungieHelp on Twitter. We will also release some help articles over the next week to give full details on the upcoming feature! As a reminder, if you encounter any players that you suspect of cheating or breaking our terms of service, please use the in-game report tool and submit a report using our contact form on Bungie.net.
Image Linkimgur Over the years, this community has proven time and time again that gaming does good. You've acted as Guardians of the world, providing aid to people in need, no matter the challenge. We’re excited to announce our next initiative, partnering with Game2Give, starting on December 1! Without further ado, we’ll pass the mic over to the Bungie Foundation to run us through this wonderful event.
Bungie Foundation: Gear up for our second annual Game2Give charity event in support of the Bungie Foundation and Children’s Miracle Network Hospitals, benefitting sick kids across the country. We invite the Bungie Community to join us in celebration of what we can accomplish together through games and giving. Starting today, we invite all of our Bungie Community members to sign up to host your own Destiny 2 fundraising stream between December 1 and December 13. We have some incredible prizes for you all at various fundraising milestones. On Giving Tuesday, December 1 at 10 AM PST, we’ll be kicking off a 24-hour streaming marathon with some of your favorite influencers from a variety of channels including Twitch and Facebook Gaming. We’ll have featured live streams taking place throughout the entire 2-week campaign, so be sure to follow us @BungieLove to receive the latest information! We are excited to share the sweet prizes we have to thank our donors for their amazing contributions to help kids. Check them out: Donation Incentives
A $25 donation will earn you the 2019 Mist Blossoms Emblem and Gilded Shell Exotic Ghost.
If you missed them last year, this is your chance to get your hands on them!
A $50 donation will earn you the above items, plus the new Light Keepers Emblem.
A $100 donation will earn you the three items above and will enter you to win an item from the Bungie Prize Pool. Prizes include GameStop/EB Games gift cards (U.S. and Canada only), Destiny 2: Beyond Light Digital Deluxe Editions, and Destiny 2: Beyond Light Physical Deluxe Editions.
Best of all, 100% of donations go directly to the charities. All in-game digital incentives will be automatically redeemed via donors’ Bungie.net ID and will appear in the Destiny 2 Collections tab on or after Tuesday, December 1. This year, we have also partnered with the online fundraising platform Omaze. Gamers from around the world can enter for their chance to win $20,000 to create the ultimate gaming rig and support this fundraising initiative! More details will come leading up to our campaign’s launch. As we head into the holiday season, we want to extend our heartfelt gratitude for each and every one of you, who continue to bring smiles, joy, and hope for Little Lights everywhere. We hope you see yourself reflected in this mantra and hold it dear. We are Light Keepers Those who dare to ignite hope in the face of uncertainty By our united, global passion we protect those in need Making a lasting difference for the Little Lights around the world We are Light Keepers Love, The Bungie Foundation
We’re also planning a few other goodies for you to unlock throughout the event when reaching certain donation milestones. Stay tuned for the full Game2Give 2020 article planned for December 1!
Tuning the Darkness
It’s not often that an entirely new subclass makes its entrance into the ecosystem of Destiny 2. The team has been hard at work over the last year building abilities and Supers powered by the Darkness. Enemies around the solar system are shaking in fear of your Stasis powers, including your fellow Guardians in the Crucible. Depending on when this article goes live, a hotfix may or may not be in the wild. We have some notes from the development team on what’s changing in Destiny 2 Hotfix 3.0.0.3.
Development Team: We have seen a lot of feedback on Stasis since Beyond Light launched last week. We’ve heard it’s a ton of fun to use, but certain aspects of this new subclass can be frustrating to go up against (looking at you, Shadebinder Warlocks). We have a few minor tweaks planned to go out in Hotfix 3.0.0.3 this week. Our goal here is to do some early tuning to rein Shadebinders back in while still maintaining their overall efficacy and power fantasy. Stasis Changes:
Stasis Breakout Damage reduced (110->90hp).
Adjusted the curve that reduces breakout damage using resilience.
Increased the damage reduction effect resilience has so that higher tiers of Resilience are more valuable.
Caps out at 90 Resilience.
Penumbral Blast (Stasis Warlock Melee) projectile speed reduced by 20%.
Penumbral Blast (Stasis Warlock Melee) range reduced (was 28m now 16m).
Winters Wrath Heavy attack (Stasis Warlock Super) no longer affects players who are not encased.
With all that said, we believe strongly in the “cosmic ice” wizard fantasy in PvE so we’re trying to target changes where we can towards the PvP experience specifically. With Stasis we’ve tried to push the sandbox in new directions and that increases the likelihood we introduce something spicier than normal. When it comes to crafting new abilities, we believe the risk of shipping something a little hot is better than playing it safe and shipping something that doesn’t get you excited. As always, we’re going to be using data, playtesting, and feedback to help refine our direction and we’re going to keep responding. This will not be the last change to Stasis this Season. As we get closer to future changes, we’ll make another appearance in the TWAB for a patch note preview. Thanks for playing, and we’ll see you out there in the wild.
Let’s Talk Loot
Since Beyond Light launched, we’ve been working through a whirlwind of feedback. What feels good, what needs work, and most importantly, how are you feeling? Today, we’ll be talking through a bit of player feedback concerning loot, and some short term plans the development team is working on.
Development Team: As Beyond Light has launched we've been tracking your feedback around loot, particularly weapons, and wanted to take a moment to let you know how we are processing it. Today we're going to talk mostly about the short-term, with more information to follow in the future around the long-term as we work through those problems. Infusion caps are intended to help keep Destiny 2 evolving and ensure that every release the new rewards are exciting and relevant to the meta. However, we agree with your feedback that there’s currently not enough variety in the world loot weapons available to players this season. To that end we are adding back in a selection of weapons that will help alleviate this issue. We will also be watching to see how the landscape changes with the addition of weapons from Season 12 and this week’s Raid launch. We also agree that getting near-cap weapons from random world drops is frustrating. Thus, we are removing those from the pool, and are weighting drops more heavily towards newer weapons. Here’s a list of adjustments to the world loot legendary weapons pool you’ll see with our November 24 hotfix:
Remove all legendary weapons that hit their infusion cap at the end of this season
Add all of the Seventh Seraph weapons from Season 10
Add all of the Season 11 seasonal and planetary reprisal weapons
Weight drop chances so the newer an item is, the more likely it is to drop.
While we are not yet ready to dive into the long-term strategy yet, we are listening to feedback and watching how the player build landscape evolves over these first few weeks of Beyond Light, and incorporating that feedback as we plan out future Seasons.
Feedback never stops, and we’re always excited to hear how you’re feeling about Destiny 2. Keep it coming.
Bashing Some Bugs
Image Linkimgur This last week has been a whirlwind. New content, new bugs, and new investigations. Destiny Player Support has a full report of what’s we’ve found, and what we’re still on the hunt for. This is their report.
HOTFIX 3.0.0.3 Today, November 19, maintenance for Hotfix 3.0.0.3 will begin. Below is a timeline of events:
November 19, 8 AM PST (1600 UTC): Destiny 2 maintenance for Hotfix 3.0.0.3 begins.
November 19, 8:45 AM PST (1645 UTC): Players will be removed from activities and won't be able to log back into Destiny 2 until 9 AM PST when Hotfix 3.0.0.3 will be available.
November 19, 9 AM PST (1700 UTC): Destiny 2 Hotfix 3.0.0.3 has begun rolling out across all platforms and regions. Players will now be able to log back into Destiny 2. Ongoing maintenance is expected to conclude at 10 AM PST.
November 19 10 AM PST (1800 UTC): Destiny 2 Maintenance is expected to conclude.
HUNT OR BE HUNTED This week, Season of the Hunt activities and story content unlocked for Season Pass owners. In order to access the Season intro mission, players should make sure to have completed the initial Forsaken and Shadowkeep story missions, which are free to all players. Players should also make sure to have space in their quest inventory prior to interacting with Spider or the Crow in order to acquire Seasonal quests. For more information on Season of the Hunt, please follow this link to our Season of the Hunt Guide. ARTIFACT PICKUP We are currently investigating an issue causing players who acquired the Seasonal Artifact before completing the full New Light Tower introduction to be blocked from progressing in the Season of the Hunt story and missions. New Light players should be sure to complete the full Tower introduction prior to picking up the Seasonal Artifact from Zavala’s office. We are continuing to monitor for reports of veteran players encountering this issue. If you believe you've been impacted by this issue and are not a New Light player, please report to the #Help forum. DESTINY ADD-ONS Players who encounter issues with their Season Pass, expansions, or Beyond Light Character Boost are encouraged to view our Purchased Destiny Add-Ons Help article for information and troubleshooting steps they can take. Click here for more information. PC MIGRATION AND BATTLE.NET LOGIN ENDING SOON Beginning on December 1, 2020, at 9 AM PST, logging in using Blizzard Battle.net accounts will no longer be possible on Bungie.net or the Destiny Companion app, nor will users be able to migrate their Battle.net account to Steam. Users who only have a Battle.net account linked to their Bungie profile are strongly encouraged to either link another platform to their profile, or to perform PC migration to Steam (unless you already have a Destiny 2 Steam account). Click here for more information. KNOWN ISSUES While we continue investigating various known issues, here is a list of the latest issues that were reported to us in our #Help Forum:
We’ve identified an issue where the Vanguard strike Playlist difficulty was unintentionally set to 1100 Power.
We are developing a fix to reduce the Recommended Power of Vanguard strikes Playlist to 1050.
The Exo Stranger’s weekly challenge is mistranslated in languages other than English – players need to defeat combatants with or affected by Stasis off of Europa.
Sparrows on Europa are not properly despawning.
Meleeing as a Titan while using the Stasis subclass can result in a visual of multiple rapid punches.
The lift tubes in the Warden of Nothing strike can close before all fireteam members are successfully through.
The lift tubes in the Warden of Nothing strike fully drain Super energy.
The Warsat Heroic Public Event in the Mothyards of the Cosmodrome doesn’t count completions for objectives.
Yellow subtitles will appear as white even when the yellow option is selected.
The Braytech RWP Mk. II no longer appears as owned in Collections for some players.
High value target reward chests do not grant the proper amount of Glimmer.
The holograms on the Stella Incognita bond and Bond of Last Departure ornament bounce aggressively.
The eyes on the Phenotype Plasticity Mask no longer glow red.
Adored cannot be reacquired from Collections.
In-game PlayStation friends lists are missing large amounts of online friends.
Player heads may not render when inspecting players in the Tower.
Later Crucible rounds may display an inaccurate round timer.
Vest of the Great Hunt clips through the Moonfang-X7 Cloak.
The Titan Shiver Strike and Glacial Quake melee have inconsistent hit registration.
Reaching Power Level 1200 may result in a “New Adventure” popup even though Adventures are no longer available.
An incorrect amount of Orbs of Power may drop than what is displayed to have dropped when defeating enemies with a Masterworked weapon.
In Survival, players may not enter into overtime when both teams have an equal amount of lives remaining.
PlayStation Remote Play controls may no longer function for some players.
Mida Mini-Tool and Drang cannot accept ornaments for their Baroque versions.
Fallen Empire and Stasis Fragment quests can be purchased even with a full quest inventory.
Participant kill audio plays in the Crucible even when not involved in a player kill.
An increase in ARUGULA errors for players completing the Beyond Light campaign.
In the Insight Terminus strike, Kargen will continuously perform ground slams and not allow players to progress past the conflux space.
Combat Drill bounties say they require Clash kills, but actually requires kills in Elimination.
Players may be directed to reacquire the Seasonal Artifact from Zavala’s office when they already have it in their inventories.
The Garden of Salvation and Crown of Sorrow Warlock armor sets are not visible in Collections.
The Unsecured/Outcry ship has the rocket engine effects floating behind the ship model.
For a full list of emergent issues in Destiny 2, players can review our Known Issues article. Players who observe other issues should report them to our #Help forum.
Always Watching
Image Linkimgur We’ve been spending a lot of time over the last week and a half watching players reacting to live events, expansion launches, and more. There have been a few moments where we were watching players taking advantage of some interesting bugs, too. Don’t worry, we aren’t keeping a naughty or nice list. You’re all still winners in our hearts. Well, sort of. The actual winners for MOTW put out some fun videos that creep me the hell out. Festival of the Lost may be over, but there are still echoes of darkness reverberating through our Creations page. Movie of the Week: Truth Video Link Movie of the Week: The Curse of Bad JuJu Video Link Movie of the Week: Risen (Warning – Strobing Lights/Imagery) Video Link If you’d like a chance at our new MOTW emblem, make sure to submit your content to the Creations page on Bungie.net. Tag it with #MOTW, and please credit everyone who contributed to the video in its description.
An Artistic Touch
Image Linkimgur I will always have great appreciation for those with a green thumb, but even moreso for those with a green thumb for art. These skills are earned through hours, days, weeks, months, and years of practice… but I will always be amazed at the pieces we see shared throughout our community. This week, we have an amazing take on Beyond Light, and more. Featured Art: Go Beyond the Light
If you have any Destiny inspired art, make sure to tag it with #DestinyArt on Twitter, Instagram, or whatever image hosting site you use! Each week, we pick a few and grant unique emblems to their creators. I’ll admit, this TWAB has been somewhat difficult to write. Don’t get me wrong, what’s said above is incredibly important! Charity initiatives to help those in need, the upcoming raid race, new security measures, and Stasis tuning are great things to see. It’s always a fun time collaborating with the various teams of Bungie to get you a weekly dose of information. That said, I’m just itching to get back into the game. It’s about time for me to go hunting. See you next week. ...wait, I'll more than likely see you on Saturday for a raid race. Either way, I hope you are in good health, and wish you a good weekend. Cheers, -dmg04
Playboy going public: Porn, Gambling, and Cannabis
NEW INFO 5 Results from share redemption are posted. Less than .2% redeemed. Very bullish as investors are showing extreme confidence in the future of PLBY. https://finance.yahoo.com/news/playboy-mountain-crest-acquisition-corp-120000721.html NEW INFO 4 Definitive Agreement to purchase 100% of Lovers brand stores announced 2/1. https://www.streetinsider.com/Corporate+News/Playboy+%28MCAC%29+Confirms+Deal+to+Acquire+Lovers/17892359.html NEW INFO 3 I bought more on the dip today. 5081 total. Price rose AH to $12.38 (2.15%) NEW INFO 2 Here is the full webinar. https://icrinc.zoom.us/rec/play/9GWKdmOYumjWfZuufW3QXpe_FW_g--qeNbg6PnTjTMbnNTgLmCbWjeRFpQga1iPc-elpGap8dnDv8Zww.yD7DjUwuPmapeEdP?continueMode=true&tk=lEYc4F_FkKlgsmCIs6w0gtGHT2kbgVGbUju3cIRBSjk.DQIAAAAV8NK49xZWdldRM2xNSFNQcTBmcE00UzM3bXh3AAAAAAAAAAAAAAAAAAAAAAAAAAAA&uuid=WN_GKWqbHkeSyuWetJmLFkj4g&_x_zm_rtaid=kR45-uuqRE-L65AxLjpbQw.1611967079119.2c054e3d3f8d8e63339273d9175939ed&_x_zm_rhtaid=866 NEW INFO 1 Live merger webinar with PLBY and MCAC on Friday January 29, 2021 at 12:00 NOON EST link below https://mcacquisition.com/investor-relations/press-release-details/2021/Playboy-Enterprises-Inc.-and-Mountain-Crest-Acquisition-Corp-Participate-in-SPACInsider-ICR-Webinar-on-January-29th-at-12pm-ET/default.aspx Playboy going public: Porn, Gambling, and Cannabis !!!WARNING READING AHEAD!!! TL;DR at the end. It will take some time to sort through all the links and read/watch everything, but you should. In the next couple weeks, Mountain Crest Acquisition Corp is taking Playboy public. The existing ticker MCAC will become PLBY. Special purpose acquisition companies have taken private companies public in recent months with great success. I believe this will be no exception. Notably, Playboy is profitable and has skyrocketing revenue going into a transformational growth phase. Porn - First and foremost, let's talk about porn. I know what you guys are thinking. “Porno mags are dead. Why would I want to invest in something like that? I can get porn for free online.” Guess what? You are absolutely right. And that’s exactly why Playboy doesn’t do that anymore. That’s right, they eliminated their print division. And yet they somehow STILL make money from porn that people (see: boomers) pay for on their website through PlayboyTV, Playboy Plus, and iPlayboy. Here’s the thing: Playboy has international, multi-generational name recognition from porn. They have content available in 180 countries. It will be the only publicly traded adult entertainment (porn) company. But that is not where this company is going. It will help support them along the way. You can see every Playboy magazine through iPlayboy if you’re interested. NSFW links below: https://www.playboy.com/ https://www.playboytv.com/ https://www.playboyplus.com/ https://www.iplayboy.com/ Gambling - Some of you might recognize the Playboy brand from gambling trips to places like Las Vegas, Atlantic City, Cancun, London or Macau. They’ve been in the gambling biz for decades through their casinos, clubs, and licensed gaming products. They see the writing on the wall. COVID is accelerating the transition to digital, application based GAMBLING. That’s right. What we are doing on Robinhood with risky options is gambling, and the only reason regulators might give a shit anymore is because we are making too much money. There may be some restrictions put in place, but gambling from your phone on your couch is not going anywhere. More and more states are allowing things like Draftkings, poker, state ‘lottery” apps, hell - even political betting. Michigan and Virginia just ok’d gambling apps. They won’t be the last. This is all from your couch and any 18 year old with a cracked iphone can access it. Wouldn’t it be cool if Playboy was going to do something like that? They’re already working on it. As per CEO Ben Kohn who we will get to later, “...the company’s casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth.” Honestly, I stopped researching Scientific Games' sports betting segment when I saw the word ‘omni-channel’. That told me all I needed to know about it’s success. “Our SG Sports™ platform is an enhanced, omni-channel solution for online, self-service and retail fixed odds sports betting – from soccer to tennis, basketball, football, baseball, hockey, motor sports, racing and more.” https://www.scientificgames.com/ https://www.microgaming.co.uk/ “This latter segment has become increasingly enticing for Playboy, and it said last week that it is considering new tie-ups that could include gaming operators like PointsBet and 888Holdings.” https://calvinayre.com/2020/10/05/business/playboys-gaming-ops-could-get-a-boost-from-spac-purchase/ As per their SEC filing: “Significant consumer engagement and spend with Playboy-branded gaming properties around the world, including with leading partners such as Microgaming, Scientific Games, and Caesar’s Entertainment, steers our investment in digital gaming, sports betting and other digital offerings to further support our commercial strategy to expand consumer spend with minimal marginal cost, and gain consumer data to inform go-to-market plans across categories.” https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tMDAA1 They are expanding into more areas of gaming/gambling, working with international players in the digital gaming/gambling arena, and a Playboy sportsbook is on the horizon. https://www.playboy.com/read/the-pleasure-of-playing-with-yourself-mobile-gaming-in-the-covid-era Cannabis - If you’ve ever read through a Playboy magazine, you know they’ve had a positive relationship with cannabis for many years. As of September 2020, Playboy has made a major shift into the cannabis space. Too good to be true you say? Check their website. Playboy currently sells a range of CBD products. This is a good sign. Federal hemp products, which these most likely are, can be mailed across state lines and most importantly for a company like Playboy, can operate through a traditional banking institution. CBD products are usually the first step towards the cannabis space for large companies. Playboy didn’t make these products themselves meaning they are working with a processor in the cannabis industry. Another good sign for future expansion. What else do they have for sale? Pipes, grinders, ashtrays, rolling trays, joint holders. Hmm. Ok. So it looks like they want to sell some shit. They probably don’t have an active interest in cannabis right? Think again: https://www.forbes.com/sites/javierhasse/2020/09/24/playboy-gets-serious-about-cannabis-law-reform-advocacy-with-new-partnership-grants/?sh=62f044a65cea “Taking yet another step into the cannabis space, Playboy will be announcing later on Thursday (September, 2020) that it is launching a cannabis law reform and advocacy campaign in partnership with National Organization for the Reform of Marijuana Laws (NORML), Last Prisoner Project, Marijuana Policy Project, the Veterans Cannabis Project, and the Eaze Momentum Program.” “According to information procured exclusively, the three-pronged campaign will focus on calling for federal legalization. The program also includes the creation of a mentorship plan, through which the Playboy Foundation will support entrepreneurs from groups that are underrepresented in the industry.” Remember that CEO Kohn from earlier? He wrote this recently: https://medium.com/naked-open-letters-from-playboy/congress-must-pass-the-more-act-c867c35239ae Seems like he really wants weed to be legal? Hmm wonder why? The writing's on the wall my friends. Playboy wants into the cannabis industry, they are making steps towards this end, and we have favorable conditions for legislative progress. Don’t think branding your own cannabis line is profitable or worthwhile? Tell me why these 41 celebrity millionaires and billionaires are dummies. I’ll wait. https://www.celebstoner.com/news/celebstoner-news/2019/07/12/top-celebrity-cannabis-brands/ Confirmation: I hear you. “This all seems pretty speculative. It would be wildly profitable if they pull this shift off. But how do we really know?” Watch this whole video: https://finance.yahoo.com/video/playboy-ceo-telling-story-female-154907068.html Man - this interview just gets my juices flowing. And highlights one of my favorite reasons for this play. They have so many different business avenues from which a catalyst could appear. I think paying attention, holding shares, and options on these staggered announcements over the next year is the way I am going to go about it. "There's definitely been a shift to direct-to-consumer," he (Kohn) said. "About 50 percent of our revenue today is direct-to-consumer, and that will continue to grow going forward.” “Kohn touted Playboy's portfolio of both digital and consumer products, with casino-style gaming, in particular, serving a crucial role under the company's new business model. Playboy also has its sights on the emerging cannabis market, from CBD products to marijuana products geared toward sexual health and pleasure.” "If THC does become legal in the United States, we have developed certain strains to enhance your sex life that we will launch," Kohn said. https://cheddar.com/media/playboy-goes-public-health-gaming-lifestyle-focus Oh? The CEO actually said it? Ok then. “We have developed certain strains…” They’re already working with growers on strains and genetics? Ok. There are several legal cannabis markets for those products right now, international and stateside. I expect Playboy licensed hemp and THC pre-rolls by EOY. Something like this: https://www.etsy.com/listing/842996758/10-playboy-pre-roll-tubes-limited?ga_order=most_relevant&ga_search_type=all&ga_view_type=gallery&ga_search_query=pre+roll+playboy&ref=sr_gallery-1-2&organic_search_click=1 Maintaining cannabis operations can be costly and a regulatory headache. Playboy’s licensing strategy allows them to pick successful, established partners and sidestep traditional barriers to entry. You know what I like about these new markets? They’re expanding. Worldwide. And they are going to be a bigger deal than they already are with or without Playboy. Who thinks weed and gambling are going away? Too many people like that stuff. These are easy markets. And Playboy is early enough to carve out their spot in each. Fuck it, read this too: https://www.forbes.com/sites/jimosman/2020/10/20/playboy-could-be-the-king-of-spacs-here-are-three-picks/?sh=2e13dcaa3e05 Numbers: You want numbers? I got numbers. As per the company’s most recent SEC filing: “For the year ended December 31, 2019, and the nine months ended September 30, 2020, Playboy’s historical consolidated revenue was $78.1 million and $101.3 million, respectively, historical consolidated net income (loss) was $(23.6) million and $(4.8) million, respectively, and Adjusted EBITDA was $13.1 million and $21.8 million, respectively.” “In the nine months ended September 30, 2020, Playboy’s Licensing segment contributed $44.2 million in revenue and $31.1 million in net income.” “In the ninth months ended September 30, 2020, Playboy’s Direct-to-Consumer segment contributed $40.2 million in revenue and net income of $0.1 million.” “In the nine months ended September 30, 2020, Playboy’s Digital Subscriptions and Content segment contributed $15.4 million in revenue and net income of $7.4 million.” They are profitable across all three of their current business segments. “Playboy’s return to the public markets presents a transformed, streamlined and high-growth business. The Company has over $400 million in cash flows contracted through 2029, sexual wellness products available for sale online and in over 10,000 major retail stores in the US, and a growing variety of clothing and branded lifestyle and digital gaming products.” https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF Growth: Playboy has massive growth in China and massive growth potential in India. “In China, where Playboy has spent more than 25 years building its business, our licensees have an enormous footprint of nearly 2,500 brick and mortar stores and 1,000 ecommerce stores selling high quality, Playboy-branded men’s casual wear, shoes/footwear, sleepwear, swimwear, formal suits, leather & non-leather goods, sweaters, active wear, and accessories. We have achieved significant growth in China licensing revenues over the past several years in partnership with strong licensees and high-quality manufacturers, and we are planning for increased growth through updates to our men’s fashion lines and expansion into adjacent categories in men’s skincare and grooming, sexual wellness, and women’s fashion, a category where recent launches have been well received.” The men’s market in China is about the same size as the entire population of the United States and European Union combined. Playboy is a leading brand in this market. They are expanding into the women’s market too. Did you know CBD toothpaste is huge in China? China loves CBD products and has hemp fields that dwarf those in the US. If Playboy expands their CBD line China it will be huge. Did you know the gambling money in Macau absolutely puts Las Vegas to shame? Technically, it's illegal on the mainland, but in reality, there is a lot of gambling going on in China. https://www.forbes.com/sites/javierhasse/2020/10/19/magic-johnson-and-uncle-buds-cbd-brand-enter-china-via-tmall-partnership/?sh=271776ca411e “In India, Playboy today has a presence through select apparel licensees and hospitality establishments. Consumer research suggests significant growth opportunities in the territory with Playboy’s brand and categories of focus.” “Playboy Enterprises has announced the expansion of its global consumer products business into India as part of a partnership with Jay Jay Iconic Brands, a leading fashion and lifestyle Company in India.” “The Indian market today is dominated by consumers under the age of 35, who represent more than 65 percent of the country’s total population and are driving India’s significant online shopping growth. The Playboy brand’s core values of playfulness and exploration resonate strongly with the expressed desires of today’s younger millennial consumers. For us, Playboy was the perfect fit.” “The Playboy international portfolio has been flourishing for more than 25 years in several South Asian markets such as China and Japan. In particular, it has strategically targeted the millennial and gen-Z audiences across categories such as apparel, footwear, home textiles, eyewear and watches.” https://www.licenseglobal.com/industry-news/playboy-expands-global-footprint-india It looks like they gave COVID the heisman in terms of net damage sustained: “Although Playboy has not suffered any material adverse consequences to date from the COVID-19 pandemic, the business has been impacted both negatively and positively. The remote working and stay-at-home orders resulted in the closure of the London Playboy Club and retail stores of Playboy’s licensees, decreasing licensing revenues in the second quarter, as well as causing supply chain disruption and less efficient product development thereby slowing the launch of new products. However, these negative impacts were offset by an increase in Yandy’s direct-to-consumer sales, which have benefited in part from overall increases in online retail sales so far during the pandemic.” Looks like the positives are long term (Yandy acquisition) and the negatives are temporary (stay-at-home orders). https://www.sec.gov/Archives/edgadata/1803914/000110465921006093/tm213766-1_defa14a.htm This speaks to their ability to maintain a financially solvent company throughout the transition phase to the aforementioned areas. They’d say some fancy shit like “expanded business model to encompass four key revenue streams: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming.” I hear “we’re just biding our time with these trinkets until those dollar dollar bill y’all markets are fully up and running.” But the truth is these existing revenue streams are profitable, scalable, and rapidly expanding Playboy’s e-commerce segment around the world. "Even in the face of COVID this year, we've been able to grow EBITDA over 100 percent and revenue over 68 percent, and I expect that to accelerate going into 2021," he said. “Playboy is accelerating its growth in company-owned and branded consumer products in attractive and expanding markets in which it has a proven history of brand affinity and consumer spend.” Also in the SEC filing, the Time Frame: “As we detailed in the definitive proxy statement, the SPAC stockholder meeting to vote on the transaction has been set for February 9th, and, subject to stockholder approval and satisfaction of the other closing conditions, we expect to complete the merger and begin trading on NASDAQ under ticker PLBY shortly thereafter,” concluded Kohn. The Players: Suhail “The Whale” Rizvi (HMFIC), Ben “The Bridge” Kohn (CEO), “lil” Suying Liu & “Big” Dong Liu (Young-gun China gang). I encourage you to look these folks up. The real OG here is Suhail Rizvi. He’s from India originally and Chairman of the Board for the new PLBY company. He was an early investor in Twitter, Square, Facebook and others. His firm, Rizvi Traverse, currently invests in Instacart, Pinterest, Snapchat, Playboy, and SpaceX. Maybe you’ve heard of them. “Rizvi, who owns a sprawling three-home compound in Greenwich, Connecticut, and a 1.65-acre estate in Palm Beach, Florida, near Bill Gates and Michael Bloomberg, moved to Iowa Falls when he was five. His father was a professor of psychology at Iowa. Along with his older brother Ashraf, a hedge fund manager, Rizvi graduated from Wharton business school.” “Suhail Rizvi: the 47-year-old 'unsocial' social media baron: When Twitter goes public in the coming weeks (2013), one of the biggest winners will be a 47-year-old financier who guards his secrecy so zealously that he employs a person to take down his Wikipedia entry and scrub his photos from the internet. In IPO, Twitter seeks to be 'anti-FB'” “Prince Alwaleed bin Talal of Saudi Arabia looks like a big Twitter winner. So do the moneyed clients of Jamie Dimon. But as you’ve-got-to-be-joking wealth washed over Twitter on Thursday — a company that didn’t exist eight years ago was worth $31.7 billion after its first day on the stock market — the non-boldface name of the moment is Suhail R. Rizvi. Mr. Rizvi, 47, runs a private investment company that is the largest outside investor in Twitter with a 15.6 percent stake worth $3.8 billion at the end of trading on Thursday (November, 2013). Using a web of connections in the tech industry and in finance, as well as a hearty dose of good timing, he brought many prominent names in at the ground floor, including the Saudi prince and some of JPMorgan’s wealthiest clients.” https://www.nytimes.com/2013/11/08/technology/at-twitter-working-behind-the-scenes-toward-a-billion-dollar-payday.html Y’all like that Arab money? How about a dude that can call up Saudi Princes and convince them to spend? Funniest shit about I read about him: “Rizvi was able to buy only $100 million in Facebook shortly before its IPO, thus limiting his returns, according to people with knowledge of the matter.” Poor guy :( He should be fine with the 16 million PLBY shares he's going to have though :) Shuhail also has experience in the entertainment industry. He’s invested in companies like SESAC, ICM, and Summit Entertainment. He’s got Hollywood connections to blast this stuff post-merger. And he’s at least partially responsible for that whole Twilight thing. I’m team Edward btw. I really like what Suhail has done so far. He’s lurked in the shadows while Kohn is consolidating the company, trimming the fat, making Playboy profitable, and aiming the ship at modern growing markets. https://www.reuters.com/article/us-twitter-ipo-rizvi-insight/insight-little-known-hollywood-investor-poised-to-score-with-twitter-ipo-idUSBRE9920VW20131003 Ben “The Bridge” Kohn is an interesting guy. He’s the connection between Rizvi Traverse and Playboy. He’s both CEO of Playboy and was previously Managing Partner at Rizvi Traverse. Ben seems to be the voice of the Playboy-Rizvi partnership, which makes sense with Suhail’s privacy concerns. Kohn said this: “Today is a very big day for all of us at Playboy and for all our partners globally. I stepped into the CEO role at Playboy in 2017 because I saw the biggest opportunity of my career. Playboy is a brand and platform that could not be replicated today. It has massive global reach, with more than $3B of global consumer spend and products sold in over 180 countries. Our mission – to create a culture where all people can pursue pleasure – is rooted in our 67-year history and creates a clear focus for our business and role we play in people’s lives, providing them with the products, services and experiences that create a lifestyle of pleasure. We are taking this step into the public markets because the committed capital will enable us to accelerate our product development and go-to-market strategies and to more rapidly build our direct to consumer capabilities,” said Ben Kohn, CEO of Playboy. “Playboy today is a highly profitable commerce business with a total addressable market projected in the trillions of dollars,” Mr. Kohn continued, “We are actively selling into the Sexual Wellness consumer category, projected to be approximately $400 billion in size by 2024, where our recently launched intimacy products have rolled out to more than 10,000 stores at major US retailers in the United States. Combined with our owned & operated ecommerce Sexual Wellness initiatives, the category will contribute more than 40% of our revenue this year. In our Apparel and Beauty categories, our collaborations with high-end fashion brands including Missguided and PacSun are projected to achieve over $50M in retail sales across the US and UK this year, our leading men’s apparel lines in China expanded to nearly 2500 brick and mortar stores and almost 1000 digital stores, and our new men’s and women’s fragrance line recently launched in Europe. In Gaming, our casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth. Our product strategy is informed by years of consumer data as we actively expand from a purely licensing model into owning and operating key high-growth product lines focused on driving profitability and consumer lifetime value. We are thrilled about the future of Playboy. Our foundation has been set to drive further growth and margin, and with the committed capital from this transaction and our more than $180M in NOLs, we will take advantage of the opportunity in front of us, building to our goal of $100M of adjusted EBITDA in 2025.” https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company Also, according to their Form 4s, “Big” Dong Liu and “lil” Suying Liu just loaded up with shares last week. These guys are brothers and seem like the Chinese market connection. They are only 32 & 35 years old. I don’t even know what that means, but it's provocative. https://www.secform4.com/insider-trading/1832415.htm https://finance.yahoo.com/news/mountain-crest-acquisition-corp-ii-002600994.html Y’all like that China money? “Mr. Liu has been the Chief Financial Officer of Dongguan Zhishang Photoelectric Technology Co., Ltd., a regional designer, manufacturer and distributor of LED lights serving commercial customers throughout Southern China since November 2016, at which time he led a syndicate of investments into the firm. Mr. Liu has since overseen the financials of Dongguan Zhishang as well as provided strategic guidance to its board of directors, advising on operational efficiency and cash flow performance. From March 2010 to October 2016, Mr. Liu was the Head of Finance at Feidiao Electrical Group Co., Ltd., a leading Chinese manufacturer of electrical outlets headquartered in Shanghai and with businesses in the greater China region as well as Europe.” Dr. Suying Liu, Chairman and Chief Executive Officer of Mountain Crest Acquisition Corp., commented, “Playboy is a unique and compelling investment opportunity, with one of the world’s largest and most recognized brands, its proven consumer affinity and spend, and its enormous future growth potential in its four product segments and new and existing geographic regions. I am thrilled to be partnering with Ben and his exceptional team to bring his vision to fruition.” https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company These guys are good. They have a proven track record of success across multiple industries. Connections and money run deep with all of these guys. I don’t think they’re in the game to lose. I was going to write a couple more paragraphs about why you should have a look at this but really the best thing you can do is read this SEC filing from a couple days ago. It explains the situation in far better detail. Specifically, look to page 137 and read through their strategy. Also, look at their ownership percentages and compensation plans including the stock options and their prices. The financials look great, revenue is up 90% Q3, and it looks like a bright future. https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF I’m hesitant to attach this because his position seems short term, but I’m going to with a warning because he does hit on some good points (two are below his link) and he’s got a sizable position in this thing (500k+ on margin, I think). I don’t know this guy but he did look at the same publicly available info and make roughly the same prediction, albeit without the in depth gambling or cannabis mention. You can also search reddit for ‘MCAC’ and very few relevant results come up and none of them even come close to really looking at this thing. https://docs.google.com/document/d/1gOvAd6lebs452hFlWWbxVjQ3VMsjGBkbJeXRwDwIJfM/edit?usp=sharing “Also, before you people start making claims that Playboy is a “boomer” company, STOP RIGHT THERE. This is not a good argument. Simply put. The only thing that matters is Playboy’s name recognition, not their archaic business model which doesn’t even exist anymore as they have completely repurposed their business.” “Imagine not buying $MCAC at a 400M valuation lol. Streetwear department is worth 1B alone imo.” Considering the ridiculous Chinese growth as a lifestyle brand, he’s not wrong. Current Cultural Significance and Meme Value: A year ago I wouldn’t have included this section but the events from the last several weeks (even going back to tsla) have proven that a company’s ability to meme and/or gain social network popularity can have an effect. Tik-tok, Snapchat, Twitch, Reddit, Youtube, Facebook, Twitter. They all have Playboy stuff on them. Kids in middle and highschool know what Playboy is but will likely never see or touch one of the magazines in person. They’ll have a Playboy hoodie though. Crazy huh? A lot like GME, PLBY would hugely benefit from meme-value stock interest to drive engagement towards their new business model while also building strategic coffers. This interest may not directly and/or significantly move the stock price but can generate significant interest from larger players who will. Bull Case: The year is 2025. Playboy is now the world leader pleasure brand. They began by offering Playboy licensed gaming products, including gambling products, direct to consumers through existing names. By 2022, demand has skyrocketed and Playboy has designed and released their own gambling platforms. In 2025, they are also a leading cannabis brand in the United States and Canada with proprietary strains and products geared towards sexual wellness. Cannabis was legalized in the US in 2023 when President Biden got glaucoma but had success with cannabis treatment. He personally pushes for cannabis legalization as he steps out of office after his first term. Playboy has also grown their brand in China and India to multi-billion per year markets. The stock goes up from 11ish to 100ish and everyone makes big gains buying somewhere along the way. Bear Case: The United States does a complete 180 on marijuana and gambling. President Biden overdoses on marijuana in the Lincoln bedroom when his FDs go tits up and he loses a ton of money in his sports book app after the Fighting Blue Hens narrowly lose the National Championship to Bama. Playboy is unable to expand their cannabis and gambling brands but still does well with their worldwide lifestyle brand. They gain and lose some interest in China and India but the markets are too large to ignore them completely. The stock goes up from 11ish to 13ish and everyone makes 15-20% gains. TL;DR: Successful technology/e-commerce investment firm took over Playboy to turn it into a porn, online gambling/gaming, sports book, cannabis company, worldwide lifestyle brand that promotes sexual wellness, vetern access, women-ownership, minority-ownership, and “pleasure for all”. Does a successful online team reinventing an antiquated physical copy giant sound familiar? No options yet, shares only for now. $11.38 per share at time of writing. My guess? $20 by the end of February. $50 by EOY. This is not financial advice. I am not qualified to give financial advice. I’m just sayin’ I would personally use a Playboy sports book app while smoking a Playboy strain specific joint and it would be cool if they did that. Do your own research. You’d probably want to start here: WARNING - POTENTIALLY NSFW - SEXY MODELS AHEAD - no actual nudity though https://s26.q4cdn.com/895475556/files/doc_presentations/Playboy-Craig-Hallum-Conference-Investor-Presentation-11_17_20-compressed.pdf Or here: https://www.mcacquisition.com/investor-relations/default.aspx Jimmy Chill: “Get into any SPAC at $10 or $11 and you are going to make money.” STL;DR: Buy MCAC. MCAC > PLBY couple weeks. Rocketship. Moon. Position: 5000 shares. I will buy short, medium, and long-dated calls once available.
$CATV - New CEO, Patents, Acquisitions, Multiple Revenue-Generating Businesses, Fully Integrated CBD Chain 4Cable TV International, Inc. (OTC: CATV) is determined to become a fully integrated Global CBD/Hemp business from seed to sale. Farming is where it all starts, and distribution is where it all goes. Today 4Cable TV, International, Inc. moves one of its chess pieces by announcing it is acquiring CIGN, LLC. As a result of the acquisition, revenues for 2021 are expected to be in the millions of dollars. $CATV will be OTC PINK Soon https://www.otcmarkets.com/stock/CATV/news/story?e&id=1797202 https://drive.google.com/file/d/1TL6i6MHPtnMQCKcAZ9BgYTMxQNI5LWRF/view Company Website: http://www.4cabletvint.com/#home Company Email [email protected] NEW CEO Since Dec 18th 2020 Michael Feldenkrais https://youtu.be/ArFs-b0ww_Y https://www.linkedin.com/in/michaelfeldenkraislawyer His largest accomplishment came when he organized several mergers and acquisitions with a Canadian publicly traded company Amaya Gaming that resulted in the increase of its market cap from 50 million dollars to 4.9 billion dollars in less than 2 years. Amaya Gaming In Deal To Buy PokerStars For $4.9 Billion One of the most high-stakes, controversial and intriguing business stories in the history of the modern gambling industry is heading toward its conclusion. PokerStars, the world’s biggest online poker company, has agreed to sell itself for $4.9 billion to Amaya Gaming, a small publicly-traded Canadian supplier of gambling equipment. https://www.forbes.com/sites/nathanvardi/2014/06/12/amaya-gaming-in-deal-to-buy-pokerstars-for-4-9-billion/?sh=3286a4104469 Experience: Over 20 Years of Professional Experience: Michael, is a well recognized attorney that has appeared on all major Spanish and English television networks. Michael manages a successful media, lead generation,gaming and marketing portfolio. CANNABIS In this video below Michael Feldenkrais is talking about how excited he is to start growing the plants and the business. https://thefloridachannel.org/videos/capitol-update-extended-hemp-applications-open/ In the Cannabis space, Mr. Feldenkrais has been very active for the last 6 years from intellectual property, cultivation, manufacturing, distribution, and retail. (Seed to Sale). Starting his Cannabis career, he focused on acquiring intellectual property in Israel to deploying such in the United States, Central and South America, and the Caribbean. In recent years he built a franchise company to open 22 Medical Clinics recommending the use of Cannabis andsold a total of 50 franchised locations in less than one year. He then concentrated his efforts in cultivating Cannabis in Florida out of a state-of-the-art Cravo greenhouse in Homestead for commercial and research purposes under the auspices of the University of Florida. Entrepreneur: Early in his career, he built two of the largest Prepaid Cellular Phone Card distribution companies in Colombia and Venezuela, wherein he deployed a distribution model using informal workers and converting them into main-stream employees giving jobs to over 14,500 people. Media and Corporate Related Experience: In 2008 he developed a success based marketing system. He has proven expertise in the operations, management and procedure implementation of media campaigns, lead generation software, and lead analytics. He expanded the companies business into the gaming category closing transactions in the hundreds of millions of dollars. The company has relationships with television production companies, casino companies, motion pictures companies and more. Using Success Based Marketing, he guided the company and all its aspects from creating the proprietary lead software, harnessing lead analytic's for re-marketing, to purchasing media for lead creation, and to the creative production of the media campaigns that would generate the most response for the money spent. Lawyer Experience: Respected and trusted television spokesperson. All the major television stations have contacted Michael to speak on legal issues. He has appeared regularly in television and radio, both nationally and internationally as both a consultant and a host. Has produced several television shows and has appeared regularly on TV stations like Univision, NBC, and Telemundo. https://www.floridabar.org/directories/find-mbprofile/?num=991708 Specialties: Business Development and Management / Media Production and Distribution /Mergers and Acquisitions/ Corporate, International, and Immigration Law Since he has been CEO of $CATV
Has acquired 3 new revenue producing companies in 3 weeks. Health Care and Wellness Clinics of America, LLC ("HCWCOA"), and Corporation Clinic, LLC ("Corporation Clinic") Chai MD, Hip n Chai and Get Medicated.
LOI for CIGN a 4th revenue producing company (He is already CEO of CIGN) They're finalizing the acquisition of CIGN Farms in FL. They grow and distribute hemp and hemp seeds for CBD products, etc.
Jan 8th PR saying Filings Imminent and are excited to announce thatit is estimating the filing of its financial statement and disclosuresin the coming weeks..
There are some heavy hitters on GME's Board and in the C-Suite. IMHO, the company should have spoken out about what's happening regarding their stock. They should also have a plan to address changes in the marketplace re Covid19, the push for digital and cryptocurrency, etc. Positive statements from them would improve the stability of the stock. Why have they been silent throughout this entire event? Wouldn't they speak out against the disparaging remarks from various HF reps in recent weeks which have negatively impacted the value of the stock? Or, do they agree with the HFs that the stock is worthless, which would suggest that GME is behind a pump and dump which has enriched them and left us holding the bag? This is the kind of letter we need to send, en mass, to the Chairman of the Board: Kathy Vrabeck, and to the media.
George ShermanChief Executive Officer and Director George E. Sherman is the chief executive officer of GameStop. He was appointed to this role in April 2019.George is a member of GameStop’s Board of Directors, a seat he has held since April 2019.George brings to GameStop more than 25 years of senior management experience serving in a variety of retail leadership roles for several major retail brands like Advance Auto Parts, Best Buy, Target and Home Depot.Prior to joining GameStop, George served as CEO of Victra, the largest exclusive authorized retailer for Verizon Wireless products and services. Before this, he served as president and interim CEO for Advance Auto Parts where he was responsible for more than 4,000 stores, merchandising, marketing, IT, supply chain and commercial sales.George also served as president of Best Buy Services, where he led consumer services, small- and medium-business capabilities, channel partnerships and Best Buy for business. Prior to Best Buy, he ran the operations and home services divisions of Home Depot and spent 14 years with the Target Corporation in various leadership roles.He received his master’s degree from Central Michigan University and served as an officer in the United States Air Force for nearly seven years. George is an active community volunteer with veteran’s causes and currently serves on the board of directors of Building Homes for Heroes, which builds mortgage free homes catered to the unique needs of disabled veterans.
Jim BellEVP and Chief Financial Officer Jim Bell serves as Executive Vice President and Chief Financial Officer for GameStop, a role he was appointed to in June of 2019. Prior to joining GameStop, Jim served as CFO and interim CEO of Wok Holdings, Inc., the parent company of P.F. Chang’s, Pei Wei and True Food Kitchen restaurants, where he successfully designed and led the company’s overall strategic plan and omnichannel digital transformation and the successful sale of each of these brands. Previously, Jim served as EVP and CFO at RLH Corporation and President and CEO of Coldwater Creek, Inc. Earlier in his career he held senior finance roles at Harry & David Holdings, Inc. and The Gap. Jim received his MBA from the University of Maryland and a B.S. in Economics from the U.S. Naval Academy. Following graduation, Jim served as a Naval Flight Officer leading squadron and flight operations in the U.S. Navy from 1989 to 1998.
Dan ReedGeneral Counsel and Corporate Secretary Dan Reed serves as General Counsel and Corporate Secretary for GameStop. In this role, Dan oversees all company domestic and international legal matters and works closely with the executive leadership team and the Board of Directors to ensure legal compliance and success in meeting business objectives.Prior to joining GameStop in 2006, Dan worked in private practice as a business lawyer. Dan holds a J.D. degree from the University of Texas and a bachelor’s degree from Texas A&M University.
Board of Directors
Kathy VrabeckBoard Chair Kathy P. Vrabeck is Board Chair and a member of the Compensation Committee. She has served as a Director since June 2012. She is currently a senior client partner in the consumer markets division of Korn Ferry. Previously, she was a Partner at Heidrick & Struggles International, Inc. (“Heidrick & Struggles”) in their Media, Entertainment and Digital practice. Prior to joining Heidrick & Struggles in July 2011, Vrabeck was with Legendary Pictures from March 2009 to March 2011 where she served as president, Legendary Digital and was responsible for the creation, management and delivery of digital entertainment, with a focus on video games, across current and next-generation platforms. From May 2007 to November 2008, Vrabeck was with Electronic Arts, Inc. (“EA”) where she served as president, EA Casual Entertainment and led EA’s efforts in the fastest growing segments of the video game market: mobile, online, social networking and global media sales. Prior to joining EA, Vrabeck was with Activision, Inc. (“Activision”) from August 1999 to April 2006 where she served as president, Activision Publishing, overseeing Activision’s product development and global brand management and publishing operations. Earlier in her career, Vrabeck held various marketing, sales and finance positions with ConAgra, The Pillsbury Company, Quaker Oats and Eli Lilly and Company. Vrabeck currently serves on the DePauw University Board of Trustees.
George ShermanChief Executive Officer and Directo rGeorge E. Sherman is the chief executive officer of GameStop. He was appointed to this role in April 2019.George is a member of GameStop’s Board of Directors, a seat he has held since April 2019.George brings to GameStop more than 25 years of senior management experience serving in a variety of retail leadership roles for several major retail brands like Advance Auto Parts, Best Buy, Target and Home Depot.Prior to joining GameStop, George served as CEO of Victra, the largest exclusive authorized retailer for Verizon Wireless products and services. Before this, he served as president and interim CEO for Advance Auto Parts where he was responsible for more than 4,000 stores, merchandising, marketing, IT, supply chain and commercial sales.George also served as president of Best Buy Services, where he led consumer services, small- and medium-business capabilities, channel partnerships and Best Buy for business. Prior to Best Buy, he ran the operations and home services divisions of Home Depot and spent 14 years with the Target Corporation in various leadership roles.He received his master’s degree from Central Michigan University and served as an officer in the United States Air Force for nearly seven years. George is an active community volunteer with veteran’s causes and currently serves on the board of directors of Building Homes for Heroes, which builds mortgage free homes catered to the unique needs of disabled veterans.
Carrie TeffnerDirector Carrie Teffner is a director and was appointed to the board in 2018. Carrie is chair of the Audit Committee and brings 30 years of financial leadership and experience in the consumer products and retail industries. Carrie has served as Executive Vice President and Chief Financial Officer of Crocs (NASDAQ: CROX) since 2015. Before assuming her executive positions at Crocs, she served on the Crocs board of directors, which she joined in June 2015. Prior to joining Crocs, she served as Executive Vice President and Chief Financial Officer at PetSmart and, before that, at Weber-Stephen Products. Prior to those roles, she served as Senior Vice President and Chief Financial Officer of Timberland and spent 21 years in various leadership positions at Sara Lee Corporation. Carrie holds Master of Business Administration and Bachelor of Science degrees from the University of Vermont.
Raul FernandezDirector Raul is a director and was appointed to GameStop’s board in April 2019. He serves as a member of the company’s Audit Committee. Raul serves as Vice Chairman and Owner of Monumental Sports & Entertainment, a private partnership that co-owns the NBA’s Washington Wizards, the NHL’s 2018 Stanley Cup Champion Washington Capitals, the WNBA’s Washington Mystics, Team Liquid eSports and Wizards District Gaming NBA 2K, as well as co-owns and operates Capital One Arena in Washington, D.C. He also serves as Special Advisor and Limited Partner to General Atlantic Partners, a growth equity firm with more than $31 billion under management. He previously served in several leadership roles at various technology companies, including as Chairman and CEO for Object Video, a leading developer of intelligent video surveillance software. He holds a bachelor’s degree in economics from the University of Maryland and is an active philanthropist, focusing his energy primarily on education reform in the D.C. region.
Lizabeth DunnDirector Lizabeth is a director and was appointed to GameStop’s board in April 2019. She serves as a member of the company’s Nominating and Corporate Governance Committee and the Compensation Committee. Lizabeth is the Founder and CEO of Pro4ma Inc, an information technology services consulting firm that provides cloud-based data forecasting and predictive analytics tools to retailers. She also is the Founder and CEO of Talmage Advisers, a retail and branded consumer products consulting firm that provides a full range of services across brand strategy, pricing analysis, financial benchmarking and transactional due diligence. Prior to founding these firms, Lizabeth served in various consulting and financial analyst roles for leading financial firms and retail organizations, including Macquarie Group, FBR, Thomas Weisel, Prudential Equity Group, Bear Stearns, Gap Inc. and Liz Claiborne. She holds a bachelor’s degree in economics from Spelman College.
William SimonDirector Bill Simon has more than 30 years of operational and strategic advisory experience in the retail, consumer and food and beverage industries. Since 2014, he has served as a Senior Advisor at KKR & Co. Mr. Simon previously served in multiple leadership roles at Walmart Inc. from 2006 to 2015, including as President and CEO of Walmart U.S. from 2010 to 2014; EVP and COO of Walmart U.S. from 2007 to 2010; and as EVP, Professional Services and New Business Development from 2006 to 2007. Earlier in his career, Mr. Simon served as VP of Marketing, Beverages at Cadbury Schweppes plc and held leadership roles of increasing responsibility at PepsiCo, Inc., after beginning his career at RJR Nabisco. Bill holds an MBA and a Bachelor’s degree in Economics from the University of Connecticut. Mr. Simon was appointed to the board in 2020 and serves as a member of the Audit Committee and the chair of the Nominating and Corporate Governance Committee.
James SymancykDirector Mr. Symancyk brings more than 25 years of executive leadership and operational experience in the retail and consumer products industries. He has served as President and CEO of PetSmart, Inc. since 2018. Mr. Symancyk previously served as President and CEO of Academy Sports & Outdoors, Inc., a retail and ecommerce sporting goods chain, from 2015 to 2018. Prior to that, he held leadership roles of increasingly responsibility at Meijer, Inc., a regional supercenter chain store, including as President; COO; and EVP, Merchandising & Marketing. He began his career at Sam’s Club, where he served as Divisional Merchandise Manager, among other roles. Mr. Symancyk holds a Bachelor’s degree from the University of Arkansas. Mr. Symancyk was appointed to the board in 2020 and serves as the chair of the Compensation Committee.
Reginald Fils-AiméDirector Reggie brings more than 35 years of experience transforming companies, revitalizing brands and reshaping industries. From 2006 to 2019, he served as President and COO of Nintendo of America, Inc. During his tenure, Mr. Fils-Aimé focused on the development and launch of industry re-defining products, including the Nintendo DS, Wii, Nintendo 3DS and Nintendo Switch, quadrupling the company’s revenue from 2005 to 2010, and oversaw the successful implementation of the company’s digital strategy. He previously served as Nintendo of America’s EVP of Sales and Marketing from 2003 to 2006. Prior to joining Nintendo, Mr. Fils-Aimé served as SVP of Marketing for VH1 from 2001 to 2003, where he led a strategic shift to appeal to younger consumers that resulted in an increase in ratings of more than 30 percent. Earlier in his career, he held multiple marketing roles at a variety of consumer and manufacturing companies, including the Derby Cycle Corporation, Guinness Import Company, Panda Management Company, Inc., Pizza Hut, Inc. and the Procter & Gamble Company. Mr. Fils-Aimé holds a Bachelor’s degree in Applied Economics from Cornell University. Mr. Fils-Aimé was appointed to the board in 2020 and serves as a member of the Nominating and Corporate Governance Committee.
Kurt WolfDirector Mr. Wolf is the Managing Member and Chief Investment Officer of Hestia Capital Management LLC. Previously, Mr. Wolf worked in a variety of financial, investing and operating roles, at First Q Capital, LLC, and as a co-Founding Partner at Lemhi Ventures LLC. Earlier in his career, Mr. Wolf worked as a consultant both with Deloitte Consulting and The Boston Consulting Group. Mr. Wolf earned a Master of Business Administration degree from the Stanford Graduate School of Business and a Bachelor of Arts degree in Economics and Mathematics from Carleton College. Mr. Wolf joined the board in 2020 and serves as a member of the Nominating and Corporate Governance Committee.
Paul EvansDirector Mr. Evans is a Senior Managing Director at Dillon Kane Group. Additionally, Mr. Evans is a Board Director at Hill International, Inc. Prior to this, Mr. Evans served in a variety of senior executive roles at MYR Group Inc. Earlier in his career, Mr. Evans held a number of executive management positions at several energy-related businesses. Mr. Evans is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants. Mr. Evans received a B.B.A in Accounting from Stephen F. Austin State University and a Masters of International Management from Thunderbird School of Global Management. Mr. Evans joined the board in 2020 and serves as a member of the Audit Committee.
$CATV - New CEO, Patents, Acquisitions, Multiple Revenue-Generating Businesses, Fully Integrated CBD Chain 4Cable TV International, Inc. (OTC: CATV) is determined to become a fully integrated Global CBD/Hemp business from seed to sale. Farming is where it all starts, and distribution is where it all goes. Today 4Cable TV, International, Inc. moves one of its chess pieces by announcing it is acquiring CIGN, LLC. As a result of the acquisition, revenues for 2021 are expected to be in the millions of dollars. $CATV will be OTC PINK Soon https://www.otcmarkets.com/stock/CATV/news/story?e&id=1797202 Company Website: http://www.hcwcoa.com NEW CEO Since Dec 18th 2020 Michael Feldenkrais https://www.linkedin.com/in/michaelfeldenkraislawyer Amaya Gaming In Deal To Buy PokerStars For $4.9 Billion His largest accomplishment came when he organized several mergers and acquisitions with a Canadian publicly traded company Amaya Gaming that resulted in the increase of its market cap from 50 million dollars to 4.9 billion dollars in less than 2 years. One of the most high-stakes, controversial and intriguing business stories in the history of the modern gambling industry is heading toward its conclusion. PokerStars, the world’s biggest online poker company, has agreed to sell itself for $4.9 billion to Amaya Gaming, a small publicly-traded Canadian supplier of gambling equipment. https://www.forbes.com/sites/nathanvardi/2014/06/12/amaya-gaming-in-deal-to-buy-pokerstars-for-4-9-billion/?sh=3286a4104469 Experience: Over 20 Years of Professional Experience: Michael, is a well recognized attorney that has appeared on all major Spanish and English television networks. Michael manages a successful media, lead generation,gaming and marketing portfolio. CANNABIS In this video below Michael Feldenkrais is talking about how excited he is to start growing the plants and the business. https://thefloridachannel.org/videos/capitol-update-extended-hemp-applications-open/ In the Cannabis space, Mr. Feldenkrais has been very active for the last 6 years from intellectual property, cultivation, manufacturing, distribution, and retail. (Seed to Sale). Starting his Cannabis career, he focused on acquiring intellectual property in Israel to deploying such in the United States, Central and South America, and the Caribbean. In recent years he built a franchise company to open 22 Medical Clinics recommending the use of Cannabis andsold a total of 50 franchised locations in less than one year. He then concentrated his efforts in cultivating Cannabis in Florida out of a state-of-the-art Cravo greenhouse in Homestead for commercial and research purposes under the auspices of the University of Florida. Entrepreneur: Early in his career, he built two of the largest Prepaid Cellular Phone Card distribution companies in Colombia and Venezuela, wherein he deployed a distribution model using informal workers and converting them into main-stream employees giving jobs to over 14,500 people. Media and Corporate Related Experience: In 2008 he developed a success based marketing system. He has proven expertise in the operations, management and procedure implementation of media campaigns, lead generation software, and lead analytics. He expanded the companies business into the gaming category closing transactions in the hundreds of millions of dollars. The company has relationships with television production companies, casino companies, motion pictures companies and more. Using Success Based Marketing, he guided the company and all its aspects from creating the proprietary lead software, harnessing lead analytic's for re-marketing, to purchasing media for lead creation, and to the creative production of the media campaigns that would generate the most response for the money spent. Lawyer Experience: Respected and trusted television spokesperson. All the major television stations have contacted Michael to speak on legal issues. He has appeared regularly in television and radio, both nationally and internationally as both a consultant and a host. Has produced several television shows and has appeared regularly on TV stations like Univision, NBC, and Telemundo. https://www.floridabar.org/directories/find-mbprofile/?num=991708 Specialties: Business Development and Management / Media Production and Distribution /Mergers and Acquisitions/ Corporate, International, and Immigration Law Since he has been CEO of $CATV
Has acquired 3 new revenue producing companies in 3 weeks. Health Care and Wellness Clinics of America, LLC ("HCWCOA"), and Corporation Clinic, LLC ("Corporation Clinic") Chai MD, Hip n Chai & Get Medicated.
LOI for CIGN a 4th revenue producing company (He is already CEO of CIGN) They're finalizing the acquisition of CIGN Farms in FL. They grow and distribute hemp and hemp seeds for CBD products, etc.
Jan 8th PR saying Filings Imminent and are excited to announce thatit is estimating the filing of its financial statement and disclosuresin the coming weeks..
Online Raffle and Raffles in general are governed by state laws. YOU need to consult with your state laws as we cannot advise you. Here is some basic information we have found, but it is far from complete and is NOT LEGAL ADVICE. A few States, such as Utah and Hawaii have very strict laws. 45 States allow online raffles from what we can tell Skill gaming is essentially unregulated in most of the United States. Federal law does not prohibit skill gaming, but, as noted above, does provide safe harbor for certain contests of skill that meet the statutory criteria. Congress has left gambling regulation primarily up to the states, with limited exceptions. Online gambling sites that are legal for U.S. states are based outside of the United States, but still legal and available for residents to play. For specific information relating to you state, we cover a state-by-state gambling guide so that you can find out information more prevalent to you. Nobody really enjoys a gaming session if they are worried the entire time that they may be ‘caught’ doing something illegal. Allow us to clear the air and present the facts so that you know where you stand as a U.S.A. player concerning the legality of online gambling in the United States. Top Rated Legal USA Online Gambling Sites. Site Name Bonus Rating Type USA Visit Site; Online Casinos First and foremost: online gambling is legal in the USA. Gambling laws are constantly changing on a state-by-state basis, but here is what you need to remember: while running your own casino, sportsbook, or poker room inside the United States is not legal, individual U.S. residents will not be prosecuted for making online bets. Most importantly, all the casinos we recommend are licensed, safe and secure. According to American Gaming Association, about 85 countries have legalized online gambling, and an estimated $35 billion is bet online worldwide each year, including millions of people in the United States through offshore websites. Every state except Hawaii and Utah collects some kind of revenue from lotteries, casinos or other types of wagering. States received an estimated $7.5 billion in Best Online Casinos Accepting Players In All 50 U.S. States One of the legal online casinos in the United States is that of Slots.lv Casino. This casino is legal in any state because they use the Real Time Gaming software, which does not discriminate against any state in the Union. In the United States, legal online gambling options vary from state to state, some states prohibited legalizing and regulating online gambling up to 2011 due to the Federal Wire Act. It changed after lottery officials in New York and Illinois asked the Department of Justice to guide them regarding the selling of Lottery tickets. Although the original request was aimed at Lotteries, the Justice Departments interpretation opened the door to most forms of online gambling. Is Online Gambling Legal in the USA? Yes, it is legal to gamble online in the US. The fine line, however, is that gambling regulation is done on a state-by-state basis. This is what determines the legality of gambling sites in the United States. Online Casino Gaming in the USA. Despite the growing interest toward the online casinos, they are still banned in most states. Nevertheless, players from Pennsylvania, New Jersey and Delaware can legally play at certain state-regulated online casinos. Generally speaking, however, the online casinos’ legal situation has been rather difficult following the implementation of the Unlawful
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