Penny stock traders who follow us on Skype learned back in July that it’s not such a bad thing to have fallen in love with Studio One Media, Inc. (SOMD). The idea to go long on SOMD stock came shortly after the Company inked a multiyear joint development and marketing agreement with ON Semiconductor (Nasdaq:ONNN) so that ON could implement the AfterMaster technology in a semiconductor chip. While those who got in at the 0.21 level are singing and dancing their way to $1, the most recent update that Justin Timberlake has joined the audio technology company “as an owner” prior to their launch into the marketplace has to be music to the ears of those who held long and those who are just picking up pieces.
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SOMD Stock Quote
Back in 2012, we began covering and tracking Studio One Media after the Company launched the Pepsi mobile MyStudio get to the X-Factor to compete. Calling SOMD an ATM like penny stock for swing traders to chart, all of that changed this summer after the Company’s revenues from AfterMaster jumped to $146,307 for the year ended June 30, 2014 versus $85,532 the prior fiscal year.
Just recently, Studio One Media did a deal to merge its MyStudio operations with bBooth, Inc. for a total consideration of $1,550,000 consisting of cash and stock in bBooth, as well as a financial interest in the Company’s television development project. bBooth, a privately held Los Angeles-based company, is planning on installing interactive recording booths in the U.S. and internationally and capitalize on the content created therein.
While the interest acquired in bBooth is said to worth $600,000, the real value is likely to come from the half of any profits earned the Company will be retaining from a proposed MyStudio television show that has been under development with Lionsgate (NYSE:LGF). With the success of American Idol and The Voice, a quality produced competitor to the 2 will undoubtedly be able to capture the attention of audiences and advertisers alike.
It’s uncommon to see an OTC stock like SOMD run over such a mid-term period without many bumps along the way when you consider that total liabilities on the Company’s books are $6,568,758 versus total assets worth just $818,655. The continuance to depend on financing from related parties that will benefit from revenue sharing terms of their agreements is sure to continue for years to come since revenues as of now are barely 3% of total expenses (fiscal Q1 ended September 30, 2014).
Regardless of the in-balance of the balance sheet, since July, SOMD stock has simply been amazing, jogging, rather than running, from just under 0.21 to Wednesday’s HOD, 0.94 (YTD High), for gains of nearly 300%. With the addition of Justin Timberlake to their Company “as an owner” according to the PR announcement today, there’s good reason why SOMD stock hasn’t skipped a beat for the last 4 months and why it should easily be able to surpass $1 in the coming sessions.
With comments in the PR yesterday from Timberlake quoted saying: “I’m thrilled to be a part of this groundbreaking company” and “the first time I heard audio, post AfterMaster, I knew that I had to be a part of this company and that we had something revolutionary on our hands” has the makings of a sweet tune for those who are already in SOMD stock.
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About SOMD Stock
Studio One Media, Inc., together with their wholly-owned subsidiaries, AfterMaster HD Audio Labs, Inc. and MyStudio HD Recording Studios, Inc., is a development stage, diversified media and technology company.
Click here to view the SEC filings for SOMD.
Click here to view the website for AfterMaster.
Authorized: 100,000,000
Issued and Outstanding: 80,042,087
Last 5 Trading Sessions:
| Date | Open | High | Low | Last | Change | % Chg | Volume |
| 11/19/14 | 0.8900 | 0.9400 | 0.8400 | 0.9400 | +0.0500 | +5.62% | 330,700 |
| 11/18/14 | 0.8600 | 0.8900 | 0.8000 | 0.8900 | +0.0500 | +5.95% | 147,800 |
| 11/17/14 | 0.8000 | 0.9100 | 0.8000 | 0.8400 | +0.0500 | +6.33% | 495,700 |
| 11/14/14 | 0.7800 | 0.7900 | 0.7500 | 0.7900 | +0.0100 | +1.28% | 31,300 |
| 11/13/14 | 0.7500 | 0.7800 | 0.7100 | 0.7800 | +0.0300 | +4.00% | 30,300 |
Bottom Line:
The nearly 4 month run SOMD stock has been on clearly makes it one of the better penny stocks on the OTC right now. Although a pull back is imminent in the coming days, especially after JT was directly linked to SOMD, plotting a point of interest for those who are still watching will be more difficult than for those sitting on low 0.20’s that are still looking for 3X their money.
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