pikachu, I hold options in MMZ (I bought into the capital raising), so I probably should change my declaration to being a holder. I sold the heads at a loss when I worried about MMZ's viability. There are a few things I've been thinking about recently, though:
La Jolla just got back in, so they may think there is a future.
When someone sold down heavily on the heads, some buying looks like it may have happened- the buys were almost equal to the sells on .001, but it was in trading halt mode, so buys and sells will begin again if we come out of this halt.
MMZ is in some debt. Also, HotShot Media is in some debt to MMZ. HSM was thinking of getting a loan via LJ to pay off MMZ. MMZ needs $1m to pay out the prize. It also needs some money to pay out for some joint venture it had with some big name. It was only in October, 2011, when MMZ did a deal with LJ for $15m, which would have covered costs:
http://www.startupsmart.com.au/funding/mooter-media-strikes-$15m-us-funding-deal-for-photo-sharing-platform/201110034065.html
I am not sure what happened there- between MMZ and LJ- but I would say we need LJ for this company to sort itself out financially. This is notwithstanding my thoughts on LJ, which are negative, they do mean some sort of viability, given so few funds came into MMZ via the capital raising.
Dunno about it all. LJ had a standstill agreement with MMZ not to sell until the shares were @ .006, but that is many miles off. It looks to me as if a big shareholder was trying to exit- half they sold, and the other half looked like the same holder attempting to exit on the .001 sell column, but stuck in the trading halt.
We have until 15/10, or Monday of next week to find out.
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