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Message from discussion GOFH analysis after recent drop
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brooke.lo...@earthlink.net  
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 More options Jul 23 2007, 9:31 pm
From: brooke.lo...@earthlink.net
Date: Tue, 24 Jul 2007 01:31:50 -0000
Local: Mon, Jul 23 2007 9:31 pm
Subject: Re: GOFH analysis after recent drop
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I really enjoyed reading your post. It is people like you, that keep
companies honest and tightly focused
by simply using the sheer weight of cogent analysis. But here is my
concern with your logic. Not only
do you use your personal loss on the stock as a barometer of its
value, you seem to fail to recognize
content as an actual asset ( and a very valuable one at that).
GOFH was overvalued at $6 per share, and now it is undervalued at
$0.70. A company's burn-rate can
be corrected. And revenues can be grown, either organically or via
acquisition. What would cause me
greater concern is to have an increasing share of a diminishing
market. That is not the problem that management
faces here. I'm in the entertainment space, and content is one of the
most consistently valuable asset classes around.
Just ask Fox, ABC, NBC, Viacom, or Time Warner. And MFI (Made-for-
Internet) productions, which are not to be
confused with user-generation content, is where GOFH has elected to
plant its flag. Its a smart business move.

Tabreez Verjee, GOFH's current president, until they find a suitable
replacement, is connected to a firm (GA Capital I believe) that has
access
to a ton of capital. He is not there so much to run the business as to
right the ship. There will be growing pains with this company to be
sure. And
I for one will keep a share eye on the many great points raised in
your email, but with GOFH, there is a there, there. The Market, by its
very nature
is imprecise. It is not always right, in fact, we make our biggest
gains when we play the space between the Market's perception, on the
one hand
and the fundamental reality, on the other.

I'm digging very deep on this company (research wise), as I believe
there is a ton of money to be made here. I don't yet own it. But when
I see a
company that is being shorted by a bunch of day-traders ( who tend to
follow the herd, not lead it), I sit up and take notice. I'd like to
see it stabilize
a bit before taking a position, but  I am going to put my money where
my mouth is, where this company is concerned.

You are focusing on the objective and quantitative, while I'm tracking
more of the subjective and qualitative. In terms of the "numbers"
Myspace
thought they were only a $580 Million company. Rupert knew better. Let
that be a lesson to us all.

ratu...@gmail.com wrote:
> I am not as optimistic.  Over the past month, I sold all my GOFH stock
> at a big loss - I'm down about 15K on this one, which I can only blame
> on poor judgment on my part.

> Stock is trading now in the $0.68-$0.72 - it's come a long way down.
> No chance of listing on NASDAQ whatever.

> Firm has no assets, high overhead, and an inadequate revenue plan
> (banner ad revenue) given their high overhead costs for film
> production.

> They are eating through money like nobody's business and last quarter
> their income was less than 1% of their expenses.  Even a huge increase
> in revenue, this company is a loser.  It would be one thing if the
> revenue and expense figures were close, but they are two full orders
> of magnitude different.  That should be a big warning sign to anyone.

> They are also going to have a very tough time raising any future
> capital, given the low stock price and lack of revenue.  With full
> ratchet antidilution in their prior agreement, they are not going to
> be able to realistically make new offers for less than the $1.60/
> share.  Given that the stock is trading below half of that value, I
> don't see a snowball's chance in the Mohave Desert of that happening.
> The analyst reports on this one also seem to be quite negative.

> I think GOFH is headed for disaster.  Definitely not a value
> investment! I will not be surprised if they turn up their belly and go
> bankrupt within 2-3 years.  In fact, I will be surprised if they are
> still around.


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