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I think the shareholding is a possible red herring, and it may be that they would "flip" the holding if they saw an opportunity. I'm not certain where you get your 9p acquisition cost from, as the price at the time was between 3-6p. I'm afraid I just do not trust these guys, and the company has some of the hallmarks of a "Chinese" scam company. (Interesting to see Camkids finally get suspended today). My biggest question is about receivables. If they really have collected a good proportion of them, why didn't they collect them earlier, and avoid having to give so much of the company away! I have a breakeven of around 10p, and do not see me hanging around much after that unless the company become more transparent.
To remember doing a calculation around the time of the funding and coming to a fair value of 13p but this was around the beginning of the year, so can't fully remember. May have posted my thoughts on here at the time. Will have trawl back
This is complex because of the relationship between the different DQE entities. The Convertible has been issued by DQE Mauritius, and converts into 56% of the equity. There is a running 6.5% coupon, and an additional 6.5% PIK coupon which also convert into equity. There are also warrants that convert. Finally, management have helped themselves to 25% of the equity via share options. Doesn't leave much for us!
+48% and got a lot more to go Doc holiday twitting about these so expect a buying frenzy to come
No "chips" on shoulders here, and if that was "thinking out loud", then I obviously need to take up mind reading. Perhaps once you have done some analysis of the terms of the Convertibles, you will cease thinking out loud with comments of "700% discount to cash", and a p/e of -2.5. I'm actually trying to help people understand more about the company and the issues it has. I'm not saying the shares are not undervalued, I'm trying to point out that they are not as cheap as others believe.
Think you're behaving excellently myself and good on yer! The $50m Bond and Liquidity Event is a minefield discussed in the 9th Dec 2014 RNS. It doesn't demand a Nasdaq listing but it does demand a Liquidity Event or best endeavours to conduct one. If anyone could summarise and simplify the Bond conditions again(Tilton?) it would be most welcome.
done.
Likewise I will not post mine here, but you can send it to my Hotmail address where I am also tiltonboy.
Have you read or understand the terms of the $50m funding package?. Do you know the history of this company, and the failure to deliver to plan!
Does Pablo have your email address? He has mine.
Qualifying for Nasdaq - glad we agree on Routes 2 & 3 make no sense for us. What about Route 1 "The company must have aggregate pre-tax earnings in the prior three years of at least $11 million, in the prior two years at least $2.2 million, and no one year in the prior three years can have a net loss." Last year to 31 March 2015, we made a Post-Tax Loss of INR202m that's £2m - so looks like Route 1 is out too, with regards 'no one year in the prior three years can have a net loss' !!
I don't think I have either. I only use my work email so don't really want to post that on here.
Company should really be releasing updates on the receivable situation as this has historically been the issue here. I think a few of us have contacted them in the past requesting this. This alone would assist in restoring shareholder value imv.
Yes please mate. Have you got my work e-mail address? If not send it to my hotmaildotcom address.
No it's not.
Yes, I dropped the company a note asking for an update on the receivable situation. Happy to share this with you if you would like to see it?
Have a look at the terms of the $50m convertible before making such ludicrous statements.
...lol... I asked my dealers to find out if there had been a tip, and they came back saying that somebody called smudgedan had had tweeted that he had spoken to the company, and people were following him in! Oh to have such power!
please use pablo2@talktalk dot net
The requirements you list for Nasdaq entry are....incredible. Can't see us hitting those targets, so, if your rules are correct, it is a mere pipedream. Our current market cap is not $550m or $850m but currently languishes at £2.6m which equals $3.95m.
Do you have an email address that I can contact you on?
to write my little piece, I see things are moving on - Up 35% now. Also, thanks smudge for further thoughts!
Good news you're relaying about the 'receivables', thanks. See the AGM went without a hitch and having found the resolutions in the Annual Report, there was nothing there significant to my eyes. We could do with some news of contracts because otherwise don't think we're going to hear about much until the Half-Year Results are released in November. Unless we aren't winning any contracts, it seems to me that the company has stopped blowing it's own trumpet on every little TV repeat series etc. and not making as many announcements as it used to. Finance the key and with the $50m bond in place we'd better get things straight for this 'liquidity event' to take place. Smudge - would be very pleased to hear your further thoughts. I'm down to break even @ 9p now and am hopeful of turning this long-term loser into a winner.
Good points. Well if they manage to comply with those we will all be laughing!
Nice summary. The issue here for me has always been their inability to control the receivables. They seem to have addressed this and have continued the good work announced during the results.