Jag Media Holdings
Capital Raised: $43.66 million
Capital Burned: $44.02 million
Previous Executive Compensation: $150,000 per year to each of three senior executives
Jag Media is, in so many ways, the perfect example of a company that has run its shareholders' equity into the ground and then sought to blame outsiders for its problems. As if running through $44 million worth of capital was not insult enough to Jag Media shareholders, they also have in place a toxic funding package with Cornell Capital.
Jag Media has aggressively pursued lawsuits against hundreds of financial institutions and harassed DTCC over an alleged naked short position that, according to some of the chronically financial illiterates who follow this stock, runs between 100 and 300 million shares.
Unfortunately for Jag Media and her shareholders, the naked short position has no role in Jag Media's negative net worth. "Naked short sellers" don't make executive decisions regarding a corporation's finances. The $44 million that was exhausted by Jag Media was done at the behest of her own management.
Despite Jag Media's grave financial condition, the company still sports a market cap of nearly $15 million. Some shareholders figure there's no point in selling at the current market price, that it's easier to just ride the thing to zero.
And so they shall.
Capital Burned: $44.02 million
Previous Executive Compensation: $150,000 per year to each of three senior executives
Jag Media is, in so many ways, the perfect example of a company that has run its shareholders' equity into the ground and then sought to blame outsiders for its problems. As if running through $44 million worth of capital was not insult enough to Jag Media shareholders, they also have in place a toxic funding package with Cornell Capital.
Jag Media has aggressively pursued lawsuits against hundreds of financial institutions and harassed DTCC over an alleged naked short position that, according to some of the chronically financial illiterates who follow this stock, runs between 100 and 300 million shares.
Unfortunately for Jag Media and her shareholders, the naked short position has no role in Jag Media's negative net worth. "Naked short sellers" don't make executive decisions regarding a corporation's finances. The $44 million that was exhausted by Jag Media was done at the behest of her own management.
Despite Jag Media's grave financial condition, the company still sports a market cap of nearly $15 million. Some shareholders figure there's no point in selling at the current market price, that it's easier to just ride the thing to zero.
And so they shall.
posted by Jimmy B at 8:32 PM
2 Comments:
Darren, I have never attacked Jag Media management. I have simply repeated what has been reported in their SEC filings.
Guess who is responsible for the material that ends up in an SEC filing.
once the dollar mark is obtained again...
watch out.
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