antigone & pasqual,Although a huge cloud of doubt remains over...

antigone & pasqual,

Although a huge cloud of doubt remains over this company for me personally I do commend you both for your relentless defence of this stock and endless pursuit for straight answers from the company's, both mmz and esn

Pasqual, your recent email correspondence with James Kellet posted on here was a fine example.

Imo this effort deserved more credit from both hc posters & Mr Kellet himself. His response to you I found showed a manner that I considered disrespectful and contemptuous towards a s/holder.

In this recent tangled web of aquisitions, placements, Joint Ventures and loans, as I understand it ESN have been granted a $4.15m unsecured loan from Furneaux Equity to fund the first A$2.5 million of working and development capital with mooter?

ESN will then be entitled to full loan repayment in priority to any other loan repayments and dividends, and will also be entitled to receive the first A$0.5 million of defined profits from the joint venture as consideration for providing the loan??

but hang on...

MMZ Ann - April 2010:
MMZ inherits the right to receive the first $5m of revenues on a priority and preferred basis to repay advances previously made and agreed to be made by Hot Shot Media Pty Ltd to the Hot Shot Media Group

oh but hang on again...

Hot Shot Media Pty Ltd is responsible for the expenditure of $5 million of operational expenses. Hot Shot Media Pty Ltd is entitled, however, to fully recover those expended costs on a priority and preferential basis from revenue or income generated by the Hot Shot Media Group.

Ok, now here's where things get a little more confusing:

Back to this unsecured loan deal - Furneaux Equity's CEO, Executive Director and Founder and ESN's Managing Director are one in the same person - Mr James Kellett. So essentially this unsecured loan is from James to James... Correct?

Furthermore mmz have further diluted the Company by another 150 mil shares to an overseas bank at a price of $0.01 per share.

So now we have an additional 150mil shares that will no doubt be sold on market s/t by mystery bank to gain quick profits.

"The purpose of the issue is to provide working capital for the continuation of the development, marketing and promotion of the Hot Shot photo-networking and gaming
project".

but hang on...

mmz Ann - April 20
"mmz will be entitled to 100% of online advertising revenues for the first five years, after which they are to be shared by the Joint Venture"

So would it be fair to assume given this CR and last April's ann that the mmz/hotshot JV have made minimal to zero advertising revenue?

Pasqual, in reference to the following correspondence you recieved from PJ which you kindly shared with us I also found showed disrespect to you as a s/holder imo:

"For those who are frustrated by impatience it should be understood that these project developments and indeed the whole development process from Mooter's involvement is 9 months long. As I said in my recent Chairman's Address, Zynga (now a $5 Billion company and starting with a US$30 million investment) was unheard of for its first 18 months - even more so with Facebook and another 5 or more highly successful companies I could name that are in the same general space. Our own director, Professor Paul Fullwood's, extremely successful company (debuted on Nasdaq at US$650 million) was unheard of and unheralded in its first 2 years. As I have said to a number of people it is little like asking a company like Samfire why they are not producing gold already ~ email received from Peter jermyn to Pasqual - 02/12/2010

No disrespect meant to current holders here but firstly Mr Jermyn if you want to be taken seriously here's a couple of points to take note of, imo:

1. When addressing your s/holders (your only source of current income as it would appear) stop comparing the potential of mmz/hotshot to Zynga and facebook. They are not 5y/o kids who will share in your own fantasies.

2. Your "extremely successful" director has been involved in quite a large string of failed companies also and the debut Nasdaq figure you quoted is incorrect.

3. Mooter Vs Sandfire... what the? sfr have a proven JORC resource of 644,000t copper & 724,000oz gold and a MC of $1,126,775,764 compared to mmz's $24,158,292. They have disclosed a solid business plan which includes production dates and they continue to meet their set target goals every step of the way.

I'd much prefer you compare mmz to an asx stock like MOT. One I would consider might be in direct competition your dream since their recent aquisition of 2moro mobile, one of the largest and most "trusted" mobile app developers in Australia. 2moro mobile has worked closely with major advertising agencies and brands such as Microsoft, Nova and Toyota to deliver many highly successful mobile apps, games and campaigns... just a thought sir.

4."... another 5 or more successful companies I could name". I could name more than 20 and they are growing at a much faster rate than the development of your long overdue mystery box.

Mr Jermyn, when you wake up from lala land take some time out from your dragged out development program to check out the new competition that might have already stolen your dream...

Here's a couple more newbies right down your alley...

click here for Apples new "photo streaming" taking on Facebook

click here - PicPlz Keeps the Heat on Instagram With Major iPhone App