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NXXN - NEXXNOW,INC

post #1 of 4
Thread Starter 
In on the dip on news. I think this will be back up to 2.00 soon.

NexxNow, Inc. Acquires Media Rights to Broadcast Premier Basketball League (PBL) Basketball Games to China
Monday June 23, 10:24 am ET


BUFFALO, N.Y., June 23 /PRNewswire-FirstCall/ -- NexxNow, Inc. (OTC Bulletin Board: NXXN - News), a sports media and marketing company, is pleased to announced that its wholly owned subsidiary NexxNow China, Inc. has secured the media rights of the Premier Basketball League (PBL) for the delivery of US Minor Leagues Basketball content to China via television, broadband and mobile distribution.

NexxNow's first offering will be the NexxNow Dragons, a professional basketball team that will compete in the PBL, which hosts its games throughout North America during the months of December through April. The Dragons will utilize the NexxNow multi-media platform in pursuing profitability and the enormous revenue potential associated via internet and television broadcast of their games to China. The team's roster will feature a balance of some of the most skilled Chinese and American talent. The team will compete against an all-Western schedule pitting East vs. West and Country vs. Country to promote fan identification and interest. China and America represent the largest and richest consumer forces in the world.
Based upon market demand and NexxNow's representation of the media of the Premier Basketball League, NexxNow is favorably positioned to deliver what 420 million Chinese fans desire: internet broadcast and televised basketball games.
About the Premier Basketball League
The PBL is the first exclusive, international basketball league purely designed for the ultimate fan experience around today's modern world. Comprised of well-funded partners and teams from proven top-caliber organizations, the PBL has the combined horsepower to attract and sustain only the best performing talent to deliver unsurpassed excitement for ultimate fan value.
About NexxNow (OTCBB: NXXN - News)
NexxNow, Inc. is a diversified Sports Media and Marketing Company that Provides technologically powered multi-media ad platforms to National/International Advertisers. NexxNow China, Inc. (subsidiary) is pursuing the television broadcast of its professional basketball team (NexxNow Dragons) to China. Information on the company and a fact sheet can be found on http://www.nexxnow.com.
post #2 of 4
Thread Starter 
Ask up to 1.80 with a wide spread. If vol comes in, this low floater should perform well.
post #3 of 4

Bad news

The majority of the common stock was bought by Gary Berthold, former CEO/frontman for a P&D called PHMB. He now has 5 failed companies to his credit. They filed a 10Q on Aug. 12 2009. Here are the interesting bits.


In August 2009 Gary Berthold purchased 35,013,540 shares of NexxNow common stock from Kenneth Keller, representing a majority of the outstanding shares. In connection with the purchase, all of the directors and officers of the Company resigned from their positions, after first appointing Mr. Berthold to serve as sole director and sole officer. Mr. Berthold then re-appointed Sterling Shepperd to serve as Chief Financial Officer.

from the 10-Q filed Aug. 12, 2009


It really looks like Berthold is the front man again. Here are the sections of the 10Q which concern me the most.

In August 2009 NexxNow entered into two Secured Convertible Debentures
that were converted from existing loans, one to Kevin Brinkworth Sr. in the principal amount of $102,600 and one to Thomas C. Reese in the principal amount of $28,500. Each debenture is payable in six equal monthly installments commencing on October 15, 2009. The holder of each debenture may convert the principal amount into NexxNow common stock at
$.005 per share.
In the event of a default,
the debenture issued to Mr. Brinkworth
may be converted into 70% of the outstanding common stock of NexxNow and the debenture issued to Mr. Reese may be converted into 20% of the outstanding common stock of NexxNow.

-12-


RESULTS OF OPERATIONS

Due to our lack of funds, our operations are very limited. As a result, we
realized no revenue
during the three months ended June 30, 2009. Likewise we realized no revenue during the three months ended June 30, 2008.


LIQUIDITY AND CAPITAL RESOURCES

Since we initiated our current business in 2004, our operations have been funded primarily by the private sale of equity
and debt to investors. During the three months ended June 30, 2009, our operations were funded by loans from shareholders in the amount of $2,700. Through June 30, 2009, however, we had used virtually all of those funds for our operations.

When the quarter ended on June 30, 2009, our balance sheet showed a working capital deficit of $237,547, primarily consisting of loans payable to stockholders.
We currently have very little cash on hand and no other liquid assets.
Therefore, in order to carry on our business, we must obtain additional capital.

We continue to actively seek investment capital. At the present time, however, no one has committed to provide us any additional funds.


So the former owners can obtain stock at the equvilent price of .005, today, that is certainly subject to change. Convertible debentures are always a bad sign. If the company does not repay the loan within 6 months, or possibly sooner, the loans will be in default and ownership will revert to the former shareholders. So what did Berthold buy? There are no operations, no revenue and no cash. If he runs a P&D, the former shareholders can dilute the price of the stock with shares bought at .005. If the price of the stock drops below that, and Berthold doesn't pay them off, they regain all the stock. As I said, he looks like a front man again.

To see the entire document go here and click on filings.

http://www.pinksheets.com/pink/quote...=nxxn#getQuote

as always, in my opinion, of course.
post #4 of 4

A new 8k is out

Well Berthold's new company, NXXN just "acquired" one of Berthold's private companies - Inovet ltd. - and a florida company -my complete care, inc.

Looks like Berthold is selling his intellectual property(now that's a laugh when talking about Berthold) to his new company NXXN. He's re naming NXXN to inolife technologies, inc. My Complete Care appears to be a boiler room operation currently involved in selling discounted medical insurance policies, sales in 2006 = $12,000!!! I'm sure they could use the same technique and sell penny stocks.

What I found interesting about the new 8k, is all the russian names that resigned from the company. Where did they come from, they're not listed in any previous documents?

from the 8k
ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF PRINCIPAL OFFICERS. Following the Stock Purchase Agreement, effective on September 9, 2009: (i) Mr. Vasili Borisov resigned as the President/Chief Executive Officer, Principal Executive Officer and a director of the Company; (ii) Ms. Nadeezda Bulicheva resigned as the Chief Financial Officer/Treasurer, Secretary, Principal Accounting Officer and as a director of the Company; (iii) Ulrik Svane Thomsen consented to act as the President, Treasurer and a director of the Company; and (iv) Jacob W. Lemmeke consented to act as the Secretary and a director of the Company.


I also like this:
FINANCIAL SERVICES ADVISORY AGREEMENT

Effective September 9, 2009, the Board of Directors of the Company authorizied the execution of an investment banking and financial advisory agreement (the "Financial Advisory Agreement") with New York Consulting Group LLC. (the "Consultant"). In accordance with the terms and provisions of the Financial Advisory Agreement: (i) the Consultant has agreed to provide the Company with regular and customary investment banking and financial advisory services, including advice regarding formation of corporate goals and implementation thereof, to the Company; and (ii) the Company has agreed to issue an aggregate of 14,000,000 shares of restricted common stock to the Consultant and/or its designees.


Once more, Berthold has found an "Investment Banker" so prestigious that they don't need a web page...LOL

http://www.pinksheets.com/pink/quote...sp?symbol=nxxn

AS always, in my opinion, of course!
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