Shaun Wagley
10 years ago
On-Air Talent Let Go Due To 'Money Deal' Friday
Shannon Burke and Scott Ledger were fired Friday with Burke citing a 'money deal' at RAIO.
With the exception of the self-aggrandizing attorney and doctor shows, Burke and Ledger were the 'Exclusive Content' offered by the Bubba channels, which coincidentally were campaigning for $99/yearly subscriptions for the 'Exclusive Content' 90 days ago.
Good thing 90 days has passed so RAIO does not have to worry about credit card chargebacks for promising content, collecting the $99 then firing the talent.
There is quite a bit of chatter on social networks of this smelling the same as the 'Early Enlister' scandal from 2011 where IO sold 3 year subscriptions for 'Exclusive Content', then gave the content away for free.
....then stopped providing the content altogether.
Supposedly, IO has new management but they seem to have the same tricks as the old.
The rotten apple does not fall far from the tree.
rasta48
11 years ago
Oh man they just gave Julia Miller 30,000,000 shares, they now have to amend the Articles of Incorporation since they have gone over their allotted shares.
They gave 10,000,000 restricted to an unnamed consulting group.
Whatever IWDM turns into it will have to do a major share reorganization to ever see the PPS appreciate.
rasta48
11 years ago
This is the end of a truly devastating era for shareholders of IWDM.
First came the pump where the unsophisticated Bubba Army investors got fleeced with shares in the .30's-.60's. They lined the insiders pockets, and the share price never appreciated again, then came the Early Enlistment scam. The EE money was scammed and spent, and those responsible will now wash their hands of IWDM.
IWDM will become a different company, possibly in the Internet music business, or possible used for a reverse merger.
User83
11 years ago
Effective August 27, 2013, Bubba the Love Sponge Clem resigned from the board of directors of the Company (the โBoardโ). Effective August 27, 2013, the Board appointed Zachary McAdoo and Julia Miller to fill two vacancies on the Board, each to serve as directors until the next annual meeting of the shareholders of the Company and until their respective successors are elected and qualify.
Effective August 28, 2013, Thomas J. Bean resigned as the Chairman, President, Chief Executive Officer and Chief Financial Officer of the Company. Effective the same date, the Board appointed Zachary McAdoo as Chairman, President, Chief Executive Officer and Chief Financial Officer, and Julia Miller as the Chief Operating Officer and Secretary of the Company, each to serve in such offices until their respective successors are duly elected and qualify.
User83
11 years ago
On September 2, 2013, ioWorldMedia, Incorporated (the โCompanyโ) sold 10% Convertible Debentures to three accredited investors, including Big Red Investments Partnership, Ltd. (an affiliate of Thomas J. Bean, who is a member of the Companyโs board of directors and former Chairman, President, Chief Executive Officer and Chief Financial Officer of the Company), Zanett Opportunity Fund, Ltd. (an affiliate of Zachary McAdoo, the current Chairman, President, Chief Executive Officer and Chief Financial Officer of the Company), and an unaffiliated individual investor, in the aggregate principal amount of $350,000 (the โConvertible Debenturesโ). The Company will use the proceeds from these transactions for general corporate and working capital purposes.
rasta48
11 years ago
IWDM announced quarterly earnings today. Before the sadness I want to bring you comic relief from the filing. Seems IWDM is in the "ramping up" phase!! "As a result of ramping up its operations as an Internet radio provider, the Company realized a net loss of $305,285 and $143,463 for the quarters ended June 30, 2013 and June 30, 2012, respectively"
Sales are down and expenses are up...That is with realizing almost $70k from EE program, we all know that money has been spent already.
More Dilution (even though the shares have not been issued)...On June 20, 2013 the Company entered into an agreement to issue 5,172,414 restricted common shares to Zanett Opportunity Fund, LTD for an additional investment of $30,000. As of August 12, 2013 the funds had been received but the shares had not yet been issued.
On April 20, 2013 the Company entered into an agreement to issue 6,000,000 restricted common shares to Zanett Opportunity Fund, LTD for an additional investment of $60,000. As of August 12, 2013 the funds had been received but the shares had not yet been issued.
The IO Live (bubba and some other no name shows) are not growing revenue...RadioioLive revenue consists of subscription and advertising fee revenue. Revenue decreased by $23,297, or 5.8%, for the three months ended June 30, 2013