The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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I thought I would post this in case it was missed but we are able to join the waitlist for Napster 3.0 on the Napster website. Simply submit your email in the relevent box on the site and await updates. Napster Subscribers will get early access to "the marketplace". I have both submitted my email and subscribed to Napster in the hope of being one of the first to receive updates.
afternoon albert.not exactly what i would term success.i have tried to download 2 versions of telegram,but neither would download as apparently my O/S on my macbook is too old.i am aware that it is very out of date(7 years old)but i am reluctant to update it as i suspect it won't go well and would probably put an end to my laptop's useful life. i may have a go on my wife's phone,but failing that im going to await developments in the ordinary course of events.thanks again PureGypsum for the offer of help.
Many thanks PureG. Apart from via Google, I can't see how else to do it.
Still, as you say, it shouldn't be too long now before we find out anyway.
Hi Italian. Have you had any success with telegram?
It might spoil the fun of end-March anyway! LOL.
very kind of you indeed to offer. i will see if i can download the app as a starter.
If I can be any help getting you on I will assist
thanks for the reply Pureypsum.appreciate that.yes my understanding was exactly that, that the non- platform holders will have had a proper copy of the terms. also appreciate the comments re telegram group.i may consider having another crack at it.
I believe people who held paper shares as oppose to holding through a broker were sent a copy of the document. It's tricky to get one's hands on it because it's confidential and strictly forbidden to distribute.
I know it's been tricky for you guys to join the telegram group but ignoring the erratic emotions of the group there are some fantastic knowledgeable people on the subject as well it has some interesting resources I would encourage you to read.
very interesting posts PureGypsum.i am particularly interested to see that you have had access to the actual merger documentation.are you able please to indicate how this can be accessed,as i would very much like to read it for myself? much appreciate your input.
I think what you were told by ii matches what I understand from the merger agreement, there will be no personal choice for us to make. The merger agreement has some interesting points on this however - i.e US persons will not be given tokens at all, instead they will be given units in an "entity" that have the same economic value as the token consideration.
It is important to stress that my interpretation of the 170 pages of lawyer talk could be wrong but I have tried my best to understand on a few different occasions.
Thanks for the input, PureG. It takes things a step further.
My brokers, ii, said last May they were looking into options re the tokens as they were unlikely to be able to provide a platform for them.
Reading what was said at the time, if the tokens were launched (in whatever way), we would receive them.
So in effect, we will not have a choice to make.
The cash would indeed be $25 mill to be split up which works to $4.47 per share. Alternatively it would 129 tokens per share. I believe the tokens will behave very stably in terms of value, no one wants to work with a volatile currency. Not long now and we shall find out!
I understand that In the event that the tokens are launched on time my interpretation is that they will be paid into wallets designated by the security holders. In most cases I do not believe this will happen as many brokers do not/will not have the facilities to provide this. In this situation the token is distributed to either an escrow account or a holding entity on our behalf. We will additionally be subject to a lock in period of a unspecified duration, equal to that and dependent upon the lock in period negotiated with future investment and partners.
afternoon albert.one of the problems is that we have never been given(so far as im aware)a proper transcript of the actual erms which were accepted by napster. all we have had is the (perhaps somewhat)paraphrased versions produced by out respective platforms etc.i have been gong on the basis that the condition for our entitlement being in the form of tokens was for the tokens to be launched(whatever that means exactly)and the availability or not of a suitable trading platform for former napster holders,was not in itself a requirement.comments by HL as to them looking into the question of how the tokens could be dealt with if issued,reinforced this view. i doubt we will get any clarification until after the 31st and if this date passes without any update then i shall be contacting sr aquiom for clarification. they were actually quite helpful in relation to my previous queries. i do agree entirely with your views re the cash v token argument and your views re the significance this may have for john v etc.interesting times.
Hello again Italian
The original criteria for cash/tokens for us PI's (those of us that are left) was for the balance of $25m to be divied up if no dealing platform could be provided for us to trade the tokens. I would hate to think I'd taken the cash when 2-3 years down the line this has achieved what Algorand are hoping for.
The difference between Napster and Limewire is that Algo OWN Napster. They have a vested interest in Napster that they don't have in Limewire and others, where these are just hosted on their platform.
IMO Algorand have a lot riding on this, both in terms of reputation and financial gain.
As does Jon V himself. If he gets this right he can get a job anywhere in music. And name his own price.
I suppose it may still end up being an option - cash or tokens. In which case this is just IMO
Morning offler and albert. im fine thanks. im fairly evenly balanced between tokens and cash,but probably just slightly inclined towards cash,as much easier,although as you say albert much less intriguing.nest few weeks will tell us how we stand.
Morning Italian. Morning Offler. I'm the same as ever thanks. Trips to the surgery and the dentist not withstanding.LOL
Nothing new of note in the speech, but Algorand were having their 2023 'Fest' so Jon V had to put in an appearance.
Cash would be easier but $Napster tokens is more intriguing. He plans 2023 as 'break-out' year and then onwards and upwards from 2024. With the 'exciting ' time we've had I would expect something from left field at some point - preferably positive.
One thing I would like to know is what the share register looks like. e.g. how involved are AM, SH and N & G now?
Hi Italian, I’m good thanks hope you are, I had forgotten the second interim, I’m hoping the tokens don’t launch and we got some cash back but who knows,
How’s you Albert?
just finished listening.nothing specific about timelines,but reading between the lines and based on the general lack of specificity in most of what the eo said,i think they are a long way off actually launching and issuing the tokens. based on that impression,i would be very surprised if they launched by end of march (only 50 days or so away).just my opinion of course and could be wrong.
March not May.sorry
afternoon offler.hope you are well.the consideration for the napster shares has 4 elements.the first is the cash payment we have already had. there are two further cash payments due after the 31st march.both are very small and will be subject to some form of contingent clawback dependent on the final napster figures,so they could be pretty negligible.the final element is the allocation of napster tokens which will be issued to former napster shareholders on a pro rata basis,provided the tokens are issued by the 31st may. we can only speculate as to the likely value and whether we will be able to realise anything from them (apparently they are going to be tailor made for use on the new napster platform and associate operations). if the tokens are not issued by the 31st we will get a cash payment instead. i think the cash payment is quite likely to be of the same order as the first payment,but i'm saying this based on my recollection of when i last looked into it and i don't think we have ever been given any figures, so could be wrong,we have been told that if the tokens are issued by the 31st there will be no cash alternative available. i expect you will collect this from previous discussions. as all the old napster shares have been acquired by the algorand consortium,you are correct in saying that we no longer have any shares in napster as such, just the entitlement to the consideration outlined. hope this helps.
Hi guys,
Long time no speak, but still checking in occasionally, from my recollection we got one payment, followed by a combination of crypto/cash March 2023 and March 2024 in full payment for share rights so the only interest we would retain would be a possible crypto holding? Which would mean we have no holding in Napster?
thanks very much,albert.i have been looking ,but must have missed it.will be viewing tonight.cheers
Building NAPSTER on ALGORAND - CEO Jon Vlassopulos
It's on You Tube. Italian, if you want to Google it.
It lasts forty-plus minutes
afternoon albert.no danger of that my friend.i will probably see if there is any way to access for free in a few days time.if i can glean anything useful i will post it.my main interest is to see if there is any indication of time scale,bearing in mind there isn't that long to go until 3st march.if they don't issue by then we will get cash,which would undoubtedly be more straightforward, but not so interesting.
Don't go forking out $499 for a ticket, Italian. LOL
I'm sure we're going to be getting some progress this year. Looking at some of his previous clips he is confident of web3/music being a billion-plus business in the next couple of years. With Napster in the vanguard.
Any serious marketing/PR will be aimed at the US initially. The rest of the world will follow.
Personally, I'm expectong ii to come up with info, as they did last May