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spot on keith imo.going to be a very different company in the not too distant future.
Keithl, hope AM doesn't see this post, he dreams of being the next Mark Zuckerberg!
The financials would be disappointing if the company was trying to make a living out of the experiences being sold, however to my knowledge we are invested in a developing company in a developing industry, this company is controlled by the Music / Entertainment Industry, the strategy is to build a ‘Branded Platform’, the reverse takeover being part of the platform, we have the confidence of our major investors and partnerships, we have a vehicle to produce a revenue, making MVR-Napster into a recognised brand will take time, should the company of done more during COVID-19 to raise its profile, perhaps not, as they are in the middle of probably the most important deal in the companies existence! There has already been approval by the large shareholders for the ‘reverse takeover’ with £44m of debt the long term strategy must be achievable and agreed by our partnerships, the Arden’s approach to the market makers and target price is the most important factors. IMO GLA
It will be interesting to see how the board will eventually shape up. My guess has been that Dollans has been pulling more strings than AM. AM will most likely remain as VP/MD of MVR and someone else will become CEx of the group.
The shift to build the business from Seattle is telling, but also telling of maybe that dual listing too.
What result summary at,
https://m.youtube.com/watch?v=dkhAD2WEX8M
At least the fake news of 3m active Napster subscribers was put to bed with confirmation it is actually closer to 1m. Those average revenue per customer numbers just weren't stacking up with the pricing model.
Still stand by 4 to 5p on open considering the placing was 3.5p. It’s the long term growth and brand awareness I’m more interested in and they even mention that in the results looking to the “next few years.”
The results were in line with expectations. They suddenly have one million subscribers at $10 a month and a new experience with VR to combine the two platforms, sounds great to me.
what i think is disappointing that during the ongoing Coronavirus they were obviously (Matchett paying more attention to the Napster deal), Matchett's big adventure, and not increasing revenue or getting the VR out there and recognized for what a great idea it is (was). VR as been put to one side while Matchetts dreams are being realised and the returns show this. So Matchett is busy but what are the other 80 expensive staff up to, not promoting VR obviously.
I see the usual band of unmerry men have kept their powder dry until today. We all knew that that results were in line with expectations and I don’t think there was any sort of conversation that said differently.We have the definite line the sand. EVRH is no more. Napster-MVR is.Evrh got the business where they are: kit, technology, licences, recordings, app development and marketing.Napster will provide much needed revenue and subscribers with a USP that no other music subscription model offers- the ability to stream music and attend concerts and I am sure even more than what was prior to COVID-19.This was a share that got to 18p on relatively nothing.Now they do have something.