Remember when it was “cool” to be a Cub Scout or a Brownie? Me neither, but it was cool collecting all those patches for achievements like coming in 9th place at the pinewood derby or selling the 19th most Girl Scout cookies in your troop. Bringing that “patch love” back to life (or at least attempting to) is the penny stock of Wild Craze, Inc. (OTC: WILD), except today they call them “SnapTagz.” Having raised a total of $2 for the nine months ended September 30, 2012, someone brainstormed the concept that selling WILD stock might be more lucrative — what a concept.
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WILD Stock Quote
Market Cap: 20.90M
Last: 0.80 ▲ 0.02 (2.56%)
Dollar Volume: $17,308
Issued and Outstanding: 26,123,760
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Haunting memories of the 80’s come back when digging into Wild Craze including some funny moments like the newspaper boy from the ’85 classic Better of Dead who hunted down his $2. Dude, you make sticker-like toy and fabric accessories for 12 year olds who play video games and pretend to be 18 on Facebook.
In May, 2011, the Company entered into an assignment and assumption agreement with a member of SnapTagz, LLC and a third party. The deal allowed for Wild Craze to acquire the exclusive right to a patent in exchange for a 3% royalty on all net profits realized from the monetization of the patent, not to exceed $310,000. That’s what you call setting a high target.
They entered into a entered into a second assignment and assumption agreement with the same parties for the same patent and the same royalty fee except this time it was only for profits within the U.S. and the empire controlled by the U.S., subject to a minimum royalty of $3,000 for all quarters ended during the 2011 calendar year, $4,000 for all quarters ended during the 2012 calendar year, and $5,000 per quarter thereafter. Much more realistic.
With $2 in sales for the nine months ended September 30, 2012, little to no cash, and a market place that is as likely to be generally accepted as a comeback of Garbage Pail Kids would be, the real winner in Wild Craze would have to be Sandra R. Danon.
Danon, on May 13, 2012, scored a sweet deal with the Company for a one year consulting agreement to provide product development services, guidance on manufacturing logistics, and sales development. Oh how badly do they need that. For her base, Danon got $5,000 per month and, after the second month, was set to see that fee increased periodically based on incoming revenues due to her performance. #FAIL.
However, she was able to grab 150,000 shares of restricted WILD stock, of which 50,000 shares vested immediately and the remaining shares were set to vest quarterly over the initial term of the agreement. Guess who’s WILD stock is no longer restricted.
About WILD Stock
Wild Craze, Inc., together with their wholly owned subsidiary Snaptagz, design, develop and manufacture fashion accessory and fashion accessory platforms that attach to clothing and fit flush to a wide range of fabric.
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Bottom Line: WILD is about as sexy of a penny stock as a pig farmer in overalls on an August afternoon who is cleaning out the pig pen with a plastic beach shovel. This pig is gonna trade, its been marked and those going for bust on WILD stock had better hope the sellers are using “scout’s honor” when it comes to dilution.
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