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Painful reading, Absolutely meant to deeply hurt Shareholders and SAVE their Jobs I thought Danny Malone had resigned how can he lead on negotiations
EGM needed to get them immediately Remember previous CEO made a mint and disappeared
An you post it?
Just had a email from share holders action group worth a read
The man behind it (Cato Crogh) is quoted as saying...
"The old business — giving loans to people who never should have loans — we are not going to reopen that. That is maybe the worst business idea whatsoever.
Don’t give loans to people who shouldn’t have loans. That is unethical. That is crazy… but give it to SMALL BUSINESSES who are maybe in short-term need of money."
================
In some instances, small business lending is not considered sub-prime and is therefore less risky and therefore has different funding criteria !!
Maybe, just maybe , Mr. Crogh has a plan worth listening to !! 😱😱
Who knows ??
GLA
🙈🙉🙊
Doesn't currently have a license (it would possibly be easier to start a fresh - if you could find funding which is difficult for subprime at the mo)
@flyhigh I'm sure it will all get sorted in its own time one way or another.
Thanks for caring x
Don’t underestimate the value of buying a company that is already listed, has a license to do moneylending, has software and systems set up for this, a well known brand (even if tarnished). And which probably has big tax losses that can be used to offset against future profits.
I suggest you lot email the fca to see what’s going on that’s all I suggest as amigo are sticking everyone there a case against them it seems and it involves this whole thing that’s why ur shares suspended
Payzinos it is based in United States
WELLS FAR to GO
The guy behind all this , a Cato Crogh, a Stockholm-based entrepreneur, abstract expressionist artist and former restaurateur and nightclub owner , sounds like a Norwegian version of Del Boy Trotter to me. !!
The only pertinent link is...
His main focus seems to be the nascent payments firm Payzinos, which he envisions offering bridging loans to businesses:
He is quoted as saying...
"The old business — giving loans to people who never should have loans — we are not going to reopen that. That is maybe the worst business idea whatsoever.
Don’t give loans to people who shouldn’t have loans. That is unethical. That is crazy… but give it to small businesses who are maybe in short-term need of money."
So there we are.. Amigo(zinos) is moving in to the Business Loans market !!😱😱
Should be an interesting ride..buckle up !
😱😱
I sold at an eye watering loss but still check in every now and then. I got booted out of the twitter group beforehand for being”negative” I obviously didn’t own the same shade of rose tinted glasses. I was in this before SOA 1 and it was nothing but disappointment for LTH’s all the way through. It took a while to realise that I was in with my heart rather than my head and for that reason glad I got out. Amigo is a dog with fleas but still hope there’s an out for the LTH’s albeit I’m sure there will still be pain to come.
Fforestgwmp - I have never called out LTH or pointed comments towards them. There's the same 3 or 4 that post nothing of value, its just infactual made up junk with no foundation, so I'm just here to challenge their "this will definitely do 50x" or the "we'll all laugh at them when this comes good"... it's madness. What they don't realise is they just drive away genuine discussion and then moan that no one is sharing any information with them. Same with the Twitter groups, they were insightful to begin with, holders were actively speaking with Gary, seeking updates, sharing any news they found... over time it just became a circus and multiple people throwing toys out the pram and what not.
I did sell out, 1.5m shares at 0.008. The 52 week high is lower than what my average. I'm not bitter, why would I be... it was the right decision for me at that time with a hefty chunk of loss for future CGT offsetting. I'll post when and where I want and continue to call out the rubbish... HAGW
So, some pretty wild predictions by posters of a 4-10p sp are simply outrageous. How can you suggest an increase of 10X to 25X on the current sp when we will be shafted by ‘considerable dilution’ probably increasing the factor 50X to 100X to get to those prices?
I desperately wanted to see Amigo rise from the ashes but questionable moves like this by the BoD now have me laughing at their decisions
Sorry to say I’ll be exercising my right to vote NO if dilution is ‘considerable’. If there’s no value for me, then there should be none for the BoD👎🏽
Also
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"Amigo declined to comment. A person familiar with the company told Alphaville that the transaction is structured as a reverse takeover that will give the consortium *nearly all* the failed lender’s equity." (emphasis mine)
Sounds like even if it does happen, current holders will get pretty much nothing.
Ahahaha that is an amazing read. Some random guy just literally searched for "company that has fallen the most" on Morningstar and happened upon AMGO. The chances of this 'deal' receiving regulatory approval are... questionable IMO.
What happened to you Beastly, you were a regular and now a hater of holders. Here's advice you gave to Radika, you sold out, you made your decision, you're out with whatever cash you sold for, you made that decision. Technically depending on when you sold, you're better off than anyone still holding.
Move on, never look back.
Thank god, we've got ourselves a streaming expert. What a pretty impressive CV you must hold, you've already shown yourself to be a Financial Services expert. I mean what an utter shock it must've been for Danny to final confirm that no funds can be raised to save Amigo, I mean you told us all that the current increasing interest rate environment was positive for Amigo's business model - SHOCK!
Steveieladette - you ok mate, mood swings again? You been taking your HRT?
Think of my prediction between 4p-10p to myself as more conservative. Regardless, your prediction over 10p surely will be beneficial to all shareholders.
BitterlyDisappointed, you will be, when full details are disclosed.
In regards to the 50x comment. I am more sure now than ever before that we will get to over 10p.
I posted a link to a Craven House Capital plc RNS where they provided a portfolio update on 03 March 2023 valuing 2 of the companies at $70m each.
https://otp.investis.com/clients/uk/craven_house_capitalplc/rns/regulatory-story.aspx?cid=1571&newsid=1672503
It's a bit confusing at this stage because Craven House Capital plc have stated the RTO is for Garimon Limited and Honeydog Ltd but Rosedog Ltd is the owner of www.tvzinos.com. However, in the Amigo RNS it states TV Zinos is also part of the deal.
The question is how many extra shares will be in issue and what percentage of the company will belong to existing shareholders post-transaction, which will determine the shareholders fate.
Look after yourself BitterlyD, I'm concerned for your mental health especially when you realise you made a massive error for selling up too early.
Really odd behaviour by the usual suspects. Some are clearly bitter after selling out and would love to see the company fail and for shareholders lose out.
Good luck to genuine shareholders, we definitely have been given a lifeline. I hope we have the last laugh.
The board of directors have a chance to redeem themselves and their poor track record as well.
In order to survive, there is no other way to do it but it is also a good idea
Haha! Open your eyes. It's laughable you're now clinging on to a potential music streaming service after all the b*ll sh*t you've all been spouting 🤣 Unbelievable!! "To the moon" 🤣
Well said Amigo would be **significantly diluted**. Admitted there would deliver some small value to shareholders including Bod. Very good news indeed and can't wait to see open market sp between 4p - 10p. If not definitely will not less than 0.4p imo
BitterlyDisappointed, why are you still here?
Nobody cares what you have to say!
You're not invested, you bottled it!
Nob off!