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No idea what is going on with this share .
Did they go bust ? are the shares removed worthless ?
Any information appreciated .
This news from late 2021 apparently.
The London-based music streaming platform formerly known as MelodyVR on Thursday said that since its reverse takeover of the Napster business in December of last year, its employees, consumers and other stakeholders now are predominantly in the US, with 42% of revenue generated in North America.
Napster has created Delaware-incorporated NM to buy Rhapsody, the subsidiary that holds almost all of its assets and liabilities, for USD45.6 million.
Existing shareholders will receive one NM share for each Napster share they hold following a 750-into-1 share consolidation.
morning ripley.basically the old napster shares(after the 750 for 1 consolidation)were converted under a scheme of arrangement into shares in napster Music inc,a private delaware incorporated company.in febuary a consortium comprising algorand and others led an agreed buyout of Napster Music and the shareholders in napster music became entitled to various stage payments. if you read through the posts on here(there aren't that many)you will see the payments described,including the final consideration which will,apparently,be paid in cash if the napster tokens described in the posts etc,are not launched by the 31st march.if the tokens are launched(whatever that actually means) by 31st then shareholders will get tokens(a form of NFT designed for use in the napster web3 system and associated operations) instead. it's starting to look a little late to get the tokens launched,although still possible i suppose. the posts on here will flesh this outline out and provided details of the cash payments etc.posts by highland on 9/6/22, horsesgob on30/6/22 and glenstar on 6/10/22 are very helpful.to get a definitive statement of the position as it relates to you personally.obviously you will need to discuss with your broker or platform provider as appropriate.you should have received the initial cash payment by now .
Thankyou The.Italian.
I do understand the token bit ( maybe I am to old )
But you seem to say I should of had some payments and maybe another to come ?
Is the web3 system and associated operations some sort of pay to view / hear sort of thing ?
Funny enough I came across your name today when when looking at a post I made on LSE on VRS back in 2020.
I did not use this site very much in 2020.
hello ripley. yes, you should have received a payment of approx 6.06 usd per share (that's post consolidation).some posters only received payment fairly recently, although i,and many other posters, got theirs many months ago.brokers/platform providers have dealt with the receipt of payments in varying ways resulting in the disparity of receipt dates.i suggest you check with your broker etc to see if you have had it.the next two payments will be due after the 31st march and should total about 1 usd per share(less some as yet unknown deductions).if the tokens are not issued by 31st march then in principle the final payment will be about 5.5 usd per share i believe.
i'm no tech enthusiast and my understanding of web3 is pretty vague(indeed the concept itself appears quite vague and open to different interpretations),but i think one can basically think of it a a more modern version of the worldwide web,with an emphasis on functions involving crypto and NFTs.probably best if yo google it.my reference to it was in relation to the new app which we understand napster is proposing to bring out under algorands aegis.it will be an app for music fans (like the current napster service) with some sort of NFT functionality,i.e. users will be able to use the new napster tokens to buy things on it and access functions on the app and on whatever associated products or systems are able to be joined into the napster service..as i say my understanding is pretty rudimentary and it may all be academic if the tokens aren't issued by the 31st as we will get cash instead,which will be much simpler for non techies like me.
yes currently invested in vrs.i used to have a fairly sizeable holding which i sold when the s/p spiked to 180p some years ago. probably my best investment ever.unfortunately i bought back in a while ago,but with only a very small mount.so although the second foray into vrs has not gone well ,it is(whilst unwelcome)not a particular concern to me.i shall retain my now very modest holding to see how it plays out. .
We can expect second payment this month? If so and if im not mistaken it should be third of the first payment ?
Hi - how much would a third be? Thanks
the 2nd and 3rd payments combined should be about1usd per share i believe. this will be subject to certain,as yet, unquantified deductions .this is about a sixth of the first payment,so pretty small. apprentlly they are not due until after the 31st march(the one year anniversary of the deal). this is my understanding from other posters information and partly from my own platform provider,but i have never seen a full transcript of the takeover documentation,so there may be nuances or qualifications to the situation,of which i am unaware.