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2062 Destinydough March 4 2013
In the AGM, Steve answered questions about Japan.
The Japan distributor activity has been on hold due to a claim by another company who was seeking music royalties of some kind for any business in Japan. The issue was resolved in December with no royalties to be paid to the third party. The details were vague about the hold up, but the Japan business activity may start moving forward. Steve and another director are going to Japan soon to hopefully move activity along.
2072 Vangorilla
Dont expect immediate press releases announcing new customers for G2.
The companies that should adopt G2 first will be using it to service their customers so I doubt they will want to highlight how much they are saving using G2.
I would imagine that when DSNY launched just last week, that version is the one they sent to bigger players that could license it.
In the mean time, all of the new "pipes" in the PlayMPE should provide a very nice immediate jump in revenue...which goes right to the bottom line.
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2074 Vangorilla March 5 2013
The largest amount of content on YouTube is music.
Who already securely distributes their digital content (audio) now?
YouTube spends a boatload of money transcoding videos. There could be 2 ways to generate revenue for this.
1. DSNY could sign a licensing deal with YouTube and YT could automatically transcode any uploaded video.
2. DSNY could license the technology to a mobile chip company so that any time a video is created it is automatically formatted in G2.
I highlighted a story yesterday about YouTube's upcoming ad revenue problems.
G2 is a solution for many big problems...give them time. This is enterprise software (in other words it has to be embedded in a company's network and tested) not a simple app you download.
2095 Destinydough
Destiny can't fully promote Clipstream G2 until they complete the various pieces that allow them to deliver G2 to every customer.
I believe they need to complete the off-site encoder software as well as the pay-per video web-based solution.
Patience will be rewarded.
You may be right that they are buying shares and refraining from releasing early promotion right now. However, that is good for all long-term shareholders, but not good for swing traders.
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2120 Vangorilla March 8 2013
2156 Vangorilla March 9 2013
As I mentioned a while ago..DSNY already protects and distributes the record labels billion dollar content with PlayMPE..the next logical step is for them to protect and distribute their videos with G2.
It appears that the Daily Site http://daily.plaympe.com/ will become a portal for the recording industry to monitor new releases as soon as they become available (long before YouTube or radio stations). More artists will want their song/album to appear on this site which should lead to even more PlayMPE biz.
This is the first step in the record labels initiative to take back control of their content AND maintain a relationship with the consumer.
Once a record label is able to determine who plays their song/video and also who buys the song, the playing field shifts in a big way. Now who places a digital watermark on the content (song or video), who has a music player and a video player, and who can track any illegally reproduced copy of this content on the Net?
DSNY has spent a few years building a safe and efficient Internet infrastructure for the record industry...That is the Big picture.
The record labels are so entrenched in PlayMPE. How hard would it be to get a record label or artist to try G2 for one of their videos?
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2161 iamlong March 10 2013
Open source VP8 codec now officially legit
"Google and the MPEG LA licensing body have announced that they have reached a licensing agreement for patents related to the Chocolate Factory's WebM streaming media technology, clearing the cloud of potential litigation that has loomed over the format for more than two years."
http://www.theregister.co.uk/2013/03/08/google_mpegla_webm_patent_license/
2162 Vangorilla
Google doesn't like H.265 because MPEG LA owns hundreds of patents on it and charges for using it. Instead, Google got behind Web M, a technology developed by On2. (there's a history with On2 and Destiny)
Google gave WebM out to the world for free, with no patent fees.
MPEG LA said, hey wait a minute, our patents cover techniques used in WebM.
What this alludes to is there is a battle where new phones will sometimes have WebM chips and sometimes H.265 chips. It means a standard is unlikely.
This should create a huge opportunity for G2.
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2168 timorr March 11 2013
2206 Vangorilla March 13 2013
What happens when the guy you are suing in a lawsuit dies?
Looks like the guy that was behind the massive short selling campaign, passed away.
(Original story) http://www.stockwatch.com/News/Item.aspx?bid=Z-C:DSY-1911607&symbol=DSY&;..
Destiny Media Technologies Inc., in response to a lawsuit it faces from Richard Angus Bruce McDonald's Noramco Capital Corp., blames Noramco for an 11-year campaign to aggressively manipulate its stock downward. According to Destiny, Mr. McDonald took a naked short position in 2000 as he was negotiating a private placement with Destiny, and in the ensuing 11 years has continued to exert downward pressure on the stock. The company says his actions have prevented it from raising money and developing its business.
This story came out last week: http://markets.hpcwire.com/taborcomm.hpcwire/news/read?GUID=23620317
SASKATOON, SASKATCHEWAN -- (Marketwire) -- 03/06/13 -- GESPEG COPPER RESOURCES INC. (TSX VENTURE: GCR) (the "Company" or "Gespeg" , announces that Mr. R.A. Bruce McDonald, a director and non-executive Chairman of the Company, has passed away. Mr. McDonald was a valuable member of the Board and he will be greatly missed.
From DSNY's 10K
On November 8, 2011, the Company was served with a Notice of Civil Claim in the Supreme Court of British Columbia from Noramco Capital Corporation for $100,000 plus interest. The claim asserts that the Company has repudiated a subscription agreement entered into in, or around, August 2000. Management believes the claim is without merit and that the likelihood that the outcome of this matter will have a material adverse impact on its result of operations, cash flows and financial condition of the Company is remote. The Company has filed a counterclaim for damages arising from a proposed private placement in 2000 which did not close. The Company alleges that the beneficial owner of Noramco was a partner in the firm that was leading the proposed financing
2237 Vangorilla March 14 2013
In this case, it is called "naked"...because it never gets reported.
Get the book "Fleecing the Lamb" and read the chapter about Bruce.
Read this link:
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:DSY-1911607&symbol=DSY&;..
Destiny Media Technologies Inc., in response to a lawsuit it faces from Richard Angus Bruce McDonald's Noramco Capital Corp., blames Noramco for an 11-year campaign to aggressively manipulate its stock downward. According to Destiny, Mr. McDonald took a naked short position in 2000 as he was negotiating a private placement with Destiny, and in the ensuing 11 years has continued to exert downward pressure on the stock. The company says his actions have prevented it from raising money and developing its business.
The private placement was in the neighborhood of $35m
The accusations come after Noramco sued Destiny in the Supreme Court of British Columbia on Nov. 8, 2011, over an 11-year-old private placement. In the brief suit, Mr. McDonald had asked for the return of $100,000 (U.S.) that he provided the company in August, 2000. He said he had planned to subscribe to a private placement, but the company failed to deliver a share certificate.
If you have any understanding on how investment firms short shares of companies they intend to do financial offerings with, you will put the pieces together.
Who do you think throws those 150k share offers when the stock gets frisky?
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2242 Vangorilla March 14 2013
I will save you a couple bucks..he was one of Canada's biggest stock promoters, a bad dude and worked with several other bad dudes.
He was chairman of Noramco Capital and also on the Board of Thomson Kernaghan.
Thomson Kernaghan filed for bankruptcy in 2002 after it was suspended for a capital deficiency. Its former chairman, Mark Valentine, was subsequently arrested in Germany and charged following FBI sting investigations into securities fraud and money laundering.
It is well known that TK was a brokerage firm that didnt have the squeakiest reputation.
Isnt it interesting that this event took place in 2001, and Normaco/BM waited 11 years to file suit against DSNY.. AND they filed this suit on the same day DSNY announced their cross platform streaming solution.
I feel confident that here is much bigger story to come out from this.
2276 Sevted
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2316 destinydough March 21 2013
Patent Applications are appearing in the USPTO search website.
The patents are not listed under Destiny, so I didn't find them until now. The documents were published for public viewing on February 21st.
Search:
Inventor Name: Vestergaard; Steven
US Patent Search Page:
http://appft1.uspto.gov/netahtml/PTO/search-bool.html
2321 Vangorilla
You have to know a little history about Noramco, Bruce McDonald, Thomson Kernaghan and Mark Valentine.
This story is a year old.
Bruce McDonald's Noramco Capital Corp., responding to a counterclaim it faces from Destiny Media Technologies Inc., denies carrying out an 11-year short-selling campaign against the company. Noramco also denies that it offered to provide a $35.6-million financing to Destiny in an effort to obtain confidential documents.
The denials come one month after Destiny blamed Noramco for an 11-year campaign to aggressively manipulate its stock downward. It claimed that Mr. McDonald obtained confidential documents in 2000 after offering to provide financing, and then took a naked short position in the company. In the ensuing 11 years, he continued to exert downward pressure on the stock, preventing the company from raising money and developing its business, Destiny said.
This is what every one refers to as the naked short position in DSNY..the official short position is 600k shares. Based on the financing that was being proposed and the rapid decline in the share price at the time and the trading volume, many feel the naked short position could be as high as 5m shares.
Here's a little snippet of Thomson Kernaghan and Mark Valentine.
http://www.rgm.com/articles/theriseandfall.html
There has been plenty of info posted about Bruce McDonald. He was famous for stock promotions on the Vancouver Stock Exchange..which was notorious for death spiral financing.
Dumbing it down a bit how this works. A firm when negotiating to do a financing deal with a publicly traded stock will sell shares (in Noramco's case naked) in that company knowing they will be able to get stock (cover) at a discount to the market with the financing. Firms do to protect their investment. It's a no brainer and it is done all the time. The amount of financing being proposed with Noramco was $35m. However DSNY backed out of the financing and Normaco never received any shares. So you can see why 5m shares doesnt seem like a lot to have been shorted.
NOT participating in Noramco's financing probably saved DSNY.
BruceMcDonald passed away March 4 of this year.
http://www.legacy.com/obituaries/vancouversun/obituary.aspx?pid=163656876
Who do you think has been throwing up those 150k share blocks for sale over the last year EVERY time this stock started to run?
It is my opinion that any real buying can now push this stock to much higher levels.
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2337 Vangorilla March 21 2013
From their 10K regarding the suit:
The Company has filed a counterclaim for damages arising from a proposed private placement in 2000 which did not close. The Company alleges that the beneficial owner of Noramco was a partner in the firm that was leading the proposed financing.
I would imagine there would be a paper trail, dont you?
2340 Vangorilla
The Destiny versus Noramco story (from Stock Watch). This will get everyone caught up on the history.
I suggest bookmarking it...I highlighted the good parts.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:DSY-1911607&symbol=DSY&;..
Destiny blames Noramco for lagging price
2011-12-15 13:13 ET - Street Wire
by Mike Caswell
Destiny Media Technologies Inc., in response to a lawsuit it faces from Richard Angus Bruce McDonald's Noramco Capital Corp., blames Noramco for an 11-year campaign to aggressively manipulate its stock downward. According to Destiny, Mr. McDonald took a naked short position in 2000 as he was negotiating a private placement with Destiny, and in the ensuing 11 years has continued to exert downward pressure on the stock. The company says his actions have prevented it from raising money and developing its business.
The accusations come after Noramco sued Destiny in the Supreme Court of British Columbia on Nov. 8, 2011, over an 11-year-old private placement. In the brief suit, Mr. McDonald had asked for the return of $100,000 (U.S.) that he provided the company in August, 2000. He said he had planned to subscribe to a private placement, but the company failed to deliver a share certificate. He asked for the return of the money, with interest and court costs.
Destiny's answer
Destiny's response to the claim, filed on Monday, Dec. 12, contends that Noramco used the private placement agreement to obtain confidential information that it would not have otherwise been able to receive. It then began an "aggressive and secret campaign" to push down the stock through naked shorting and other unspecified methods. It continued to short the company as a means of keeping the price down so it could defer or avoid having to cover its naked short positions at a loss, the response states.
The private placement, as described in the response, was first proposed in June, 2000. Destiny's officers had recently met a man called Paul Louie who said he represented Mr. McDonald and others, including now-defunct brokerage Thomson Kernaghan & Co. Ltd. and its chairman, Mark Valentine. (Thomson Kernaghan, which was known for death spiral financings under Mr. Valentine, collapsed in scandal in 2002. Mr. Valentine later pleaded guilty to criminal charges in the United States for market manipulation and received four years of probation.)
Mr. Louie told Destiny that he was interested in arranging a $35.6-million financing for the company through Noramco and Thomson Kernaghan, the response states. The amount was substantial to Destiny, as it had never had a financing larger than $1-million at the time. The company says that it agreed to some initial terms, in which it provided confidential information to Noramco and did not pursue any other sources of financing. In August, 2000, it received the now-disputed $100,000 (U.S.) from Noramco as part of that arrangement.
Although Destiny understood that the $100,000 (U.S.) was provided for a share subscription, it says that it did not execute any share purchase agreement. This was partly because it could not get Noramco to agree to a price. The parties discussed $1.50 and 75 cents, but ultimately did not agree on anything. Destiny says that Noramco intentionally avoided setting a price so it could depress the stock sufficiently to pressure the company into accepting a lower subscription price.
Eventually, in January, 2001, Destiny received a letter from Noramco's lawyer which demanded the return of the $100,000 (U.S.). Destiny, in response, offered either shares or the $100,000 (U.S.). The company also agreed to a meeting with Mr. Louie to discuss the investment, but the meeting never happened. According to the response, that was the last time the parties communicated.
After that, Noramco and Mr. McDonald ran an aggressive, secret short-selling campaign against the company, the response claims. While Destiny provides no details of the 11-year campaign (it says that information is well known to Noramco and Mr. McDonald) it claims that the campaign continues "to this day." The result has been that Mr. McDonald has generated substantial profits while Destiny has been forced to raise money at artificially depressed prices.
As the company tells it, the suit only came about after Mr. McDonald somehow learned that the company had issued 133,333 shares in Noramco's name. Destiny says it did issue the stock, but only as a way to account for the $100,000 (U.S.) that it received from Noramco. It did not send Mr. McDonald the certificate.
The company says it has suffered substantial harm as a result of Noramco's conduct, and it claims a set off in relation to such harm in defence to the suit. The company asks that the suit be dismissed.
Vancouver lawyer David Brown of Stikeman Elliott LLP filed the answer on the company's behalf.
Destiny, which traded between 68 cents and $1.65 on the OTC Bulletin Board in August, 2000, closed at 40 cents Wednesday.
--------
A couple things I wonder...why did Noramco never accept the $100k or shares that were being offered back in 2001?
Why after 10 years is Noramco trying to recover this $100k?..and announce their suit on the same day that DSNY announces revolutionary technology?
Did Noramco just assume DSNY would go out of business and figured they would never have to cover?
If Noramco did create a naked short position, and still maintains it, SOMEBODY is owed DSNY shares.
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2358 Vangorilla March 22 2013
The three components to DSNY's business (as of now)
1. Digital watermarking (track/trace and lock) any digital content.
2. Streaming video (G2) Encode Once Play Anywhere
3. Secure music distribution and Internet Music Player (PlayMPE)
Perhaps this story will give a little insight why the PlayMPE infrastructure (with digital watermarking) will prove to be a very valuable recurring revenue stream for DSNY.
Music Streaming will be Apple, Google and Amazon’s next big thing
All of them see a viable music streaming and subscription service as crucial to growing their presence in an exploding mobile environment. For Google and Apple, it is critical in ensuring users remain loyal to their mobile products.
http://www.firstpost.com/tech/music-streaming-will-be-apple-google-and-amazons-next-big-thing-671958.html
2363 vangorilla
A great read from Fast Company as to where digital content, and their creators are headed. One sentence summed it up perfectly.
the new obsession is intellectual property, content that the creator can own and repurpose forever.
A couple others:
"The ecosystem is an intersection of worlds that's never happened before. Old players are moving to new-media companies, while the people who service traditional media--studios, agencies--all have digital divisions.
YouTube isn't just a lot like cable TV but that it will eventually be exactly like cable TV today: a targeted programming paradise that's also a gusher of cash and profits for the major players.
http://www.fastcompany.com/magazine/174/rebel-saving-hollywood
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2383 vangorilla March 25 2013
Revenue growth has stalled in the past 3 yrs:
2010 3.7m
2011 4.0m
2012 3.98m
However, they cleared over $3m in net income. In the mean time they have been able to remain quite profitable while building (paying for the development) the infrastructure for PlayMPE and G2.
The recording industry (soon the video industry) is struggling to regain control over their digital content, who do you think has built the plumbing that enables them to control each piece of digital content regardless of where it is on the Net?
Steve has said several times that one G2 revenue deal should eclipse their current annual revenue. In other words that would give them a revenue growth rate of at least 100%...AND because the cost of the product has already been incurred, the majority of this revenue goes right to the bottom line.
I think a lot of people are forgetting that.
Comparing old Clipstream to G2 is just stupid. Even the company admits they couldnt compete with old Clipstream against Flash and stopped focusing their efforts on it.
There was another company that was a pioneer in the the computing industry but it was their ability to give people and the record industry a music solution that made them one of the most disruptive companies today.
Doesnt anyone see the similarities?
2388 iamlong
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