Platinum stuck in my craw. Investors showered them with money and Rosenberg got rich despite:
* burning through millions of dollars on several projects and only having one completed project to show for it
* occasional attempts to game the market
* Rob Liefeld and Top Cow deciding Platinum was their kind of people and teaming up with them (to their credit, Liefeld and Top Cow eventually bailed)
* allegations about the creation of Cowboys And Aliens, their poster turned comic book turned movie
Cowboys And Aliens was supposed to be The Big Thing. It wasn't. Although it limped across the $100 mil mark, it still underperformed major and all the expected licensors they were expecting to attract never turned up. Reading their 10-Q showed a company that suddenly found itself facing the reality that this....
...wasn't going to happen for them. Or for the shareholders and investors they said it would happen to.
Since then, I have had a front row seat as the following events unfolded:
* a shareholder lawsuit against Rosenberg
* share prices falling at terminal velocity
* the company itself going Florida swampland, with no one sure where exactly it is headquartered anymore
* lawyers complaining they aren't being paid (DO NOT PISS OFF LAWYERS!!!)
* people in the company turning against each other to avoid any blame
Platinum in general and Rosenberg in particular have maintained radio silence for a while now. But that will change on January 16. Here's a press release from Platinum:
Platinum Studios, Inc. (OTC PINK: PDOS) announced today that they will be hosting a shareholders conference call for the purpose of discussing the past year’s occurrences and to update shareholders on recent developments. Platinum Studios President Chris Beall and CEO Scott Rosenberg will lead the live shareholders call which will close with an open forum question and answer session. The call will be held on January 16th, 2013 at 7:00 pm EST. The call in number for the call is 605.475.4000 and the access code is 936861# and will be open to any and all Platinum Studios shareholders. In order to better prepare for the shareholders call and to help gather pertinent questions, Platinum will be holding a preliminary group conversation this Wednesday January 9, 2013 at 2:00 pm EST. Some of the topics we have already received interest in are: the details of Platinum Studios’ affiliation with RIP Media and ACH, Platinum’s relationships with outside entities including Scott Mitchell Rosenberg Productions, the relationship between Scott Rosenberg, RIP Media, Platinum Studios, and RIP’s revenues it receives monthly from the Rosenberg Family Trust (Jackare Corporation), the past, present, and future compensation of both the CEO and President, the current lawsuit suing Scott Rosenberg personally on behalf of Platinum Studios’ shareholders, reasons why PDOS stock has so dramatically declined and is now at rock bottom prices, the Cowboys & Aliens 2 and Cowboys & Aliens Animated Graphic Novel properties, Platinum’s desperate need for shareholders help and support, the company’s lack of legal counsel and representation to be able to defend itself, the $75,000 bonus Platinum Studios received from Playtech, the current internal struggle and lack of checks and balances system within the company, and where exactly the company is currently located. If you are unable to attend the preliminary conversation then please send any questions and topics you have for the shareholder’s call to firstname.lastname@example.org and email@example.com.
Oh, waiter! One tub of popcorn! And make it snappy!