The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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https://www.youtube.com/watch?v=MI13dW3F3KE doesn't really add a great deal,but interesting see the CEO.he gets better after the first few minutes(imo) as he settles into the presentation.
Any news on the return of this company.
Stephen Han**** late purchase of 32 million plus any idea. Please.
At 87 do I rite it off ?
Is this a blessing in Naps direction .
What an opportunity, Liverpool . Plenty of pre warning.
NAPS WHAT DO YOU SAY ? .
Covid was a bummer however you look at it.
AM and SH may have been left in charge of the app by Algorand, to maintain and update it as and when
And it's likely they will still hold shares in Algorand, like us.
In fact, it might be interesting to see what the updated shareholder list looks like. E.g. where do N & G currently figure in all this?
agree with that albert.the damage was done by poor decisions (and tbf events beyond their control, i.e. covid) by matchett and co.doesnt seem as though machett and han**** figure at all in the latest set up,which is probably a very good thing.
Good links you posted recently. I tried to reply but for a while I was being logged out when I tried to post. Seems OK now though.
Your links confirm Algorand's intention to develop the platform for Napster, so it will be cash or cryptos. More thrills and spills with the latter, if we can take any more !!
TBH, I don't think Algorand have treated us too badly thus far. All things considered.
hello albert.yes odd why they have taken so long.my concern is,if as i believe has been stated,there will be no cash alternative if the cryptos are issued,then we may miss out.im not worrying about too much,as if the cryptos are not issued by end of march we will get the cash.if they are issued then hopefully some mechanism can be introduced to enable us to get them or receive their value.it would seem extremely inequitable if we were to lose out by not being able to take up the crypto(doesn't mean it can't happen that way of course),but until we are a bit closer to the time im not going to spend too much time worrying about it.good luck and fingers crossed as always.
Hi Glennstar, Italian
That about sums it up. Although why LLoyds have taken so long when HL and ii had all this done back in May is a mystery.
ii also added at the time that they were "investigating options available re tokens as they are not likely to be usable on their platform."
That would almost certainly apply to most, if not all, other brokers.
The matter lies with Algorand as to whether we are to receive tokens. If they decide it is not an option then it will be the cash payout (total $25m). There was a 12 month deadline for this which will take us to around end March.
that's exactly my understanding glennstar, thanks. as to concerns that removal of shares from account might result in losing the entitlement to the further payments etc,personally im not concerned by this.my Hl count now reads "NM INC (now taken over) and below that "cryptocurrency interim line"it still gives the no of units.also the wording you have quoted wayneb does seem to make it clear that you won't lose it.best to keep a close eye on things though.
Matt
My interpretation of the share deal back in May based on Albert’s posting based on old shares (750 = 1 new) was;
Step 1 – the $6.07 per share – 0.65p per share (ie £0.0065)
Step 2 (max) the escrow $5.2m – 0.12p per share
Step 3 (max) the shareholder fund $-0.5m – 0.01p
Step 4 the funny money – cash in lieu of tokens $2.5m – 0.07p
Step 4 has since been clarified as $25m and 0.7p per old share so that pay out should be similar to this first. Steps 2 and 3 are escrow funds to pay for certain expenses so the amounts above are max and could be less. But they are much smaller than step 1.
My concern is when they say "Please note your Napster PLC shares will shortly be removed from your account". Whilst they also follow to say "This does not effect your entitlement to any future payments", I'm worried that the removal of the shares from the account will mean there's no history of me owning the shares.
Does anyone else share my worry?
This might be a stupid question, but the fourth payment is the crypto-linked one, yes? The 2nd and 3rd payments should be cash, and will presumably be the same amounts as the first?
Same here (Halifax via iWeb).
They didn't mention the crypto, but did reference that this was the "first of four payments from the company".
I just got my first payment with Halifax Share Dealing ($6.06). There was a notification but no details what they're doing about the crypto.
My funds have just dropped into my Lloyds account but no corporate action yet explaining the process for crypto etc
seems to be working OK now
keep getting logged out
Hello all - it's been a while since I've posted on here. Just to update you, I've just had notification from Lloyds after raising the payments with them over the weekend... positively they have said:
"I have checked with our corporate events department and they have confirmed that the payment from Napster has arrived and will be hopefully be distributed to customers accounts today or tomorrow."
Here's hoping!
cheers
Thanks for the articles Snapuae and Italian. Seems old Napster just wont give up the ghost. The new CEO certainly seems to know his onions so perhaps all is not lost? Not sure how our tokens/coins will be distributed (Algorand or Naps?) but I would certainly back this feller. One more throw of the dice and all that.
Ticktock as ever. Best of luck to all.
https://www.musicbusinessworldwide.com/with-fresh-eight-figure-financing-and-a-new-ceo-napster-wants-to-take-web3-music-to-the-mainstream/ more of the same,but with a bit more detail on the fundraising.
much appreciated snapuae.thanks very much.
in 2 reply posts
What ensued was a painful, 20-year journey to regain what was lost. Recorded music revenues plunged from $24 billion in 2001 to $14.2 billion in 2014, and have since come roaring back, hitting $25.9 billion in 2021, the first year that industry sales surpassed the 2001 figure.
Yet discontent with the new system is boiling over. Last year artists including Sir Paul McCartney, Emile Sandé and Paul Weller, of The Jam, wrote to Boris Johnson demanding a regulatory overhaul. They claimed they were being “exploited”: musicians receive about 15 per cent of the income from streaming, with the rest being split among the streaming platforms and record labels. The musicians called for new laws to force streaming platforms and record labels to more evenly split revenues.
The question is whether Napster, a relic from another era, can be the vehicle to drive the next upheaval. For anyone over the age of 30, the brand resonates. For younger people, it will mean little or nothing. The younger generations will be far more familiar, however, with cryptocurrency and the concept of decentralised services that allow creators to connect directly with fans with digital items such as NFTs (non-fungible tokens) and virtual experiences.
It is up to Vlassopulos to thread that needle. More than $35 billion has been spent on digital items in the last two years, he said, but most of it has been on digital art or on digital sports highlights. Music has been a laggard. “If I put a gun to your head and said, ‘Name ten digital artists’. You’d probably die,” Vlassopulos said. “But if I said name ten musical artists, you’d live. We think there is a big opportunity to cut into that $35 billion. ”
When an 18-year-old Shawn Fanning launched Napster, the service famed for taking music piracy mainstream, in June 1999, the top song on the Billboard charts was Livin’ la Vida Loca. Mercifully, Ricky Martin’s ditty has long since faded into history. Napster, however, just won’t die.
Matt Zhang, a 37-year-old New York banker turned crypto investor, bought it in May, turning his $1bn investment firm Hivemind into the company’s fifth owner since the music industry bankrupted the business in 2002 under a mountain of lawsuits.
Zhang’s plan: to turn Napster into “a music super-app” for the “post-streaming era”. What does that actually mean? By transforming into an online concert venue, where people can attend virtual shows and buy digital swag from their favourite bands, paid for in a forthcoming Napster cryptocurrency.
Napster will, of course, still offer streaming. The company, which is based in London and was listed on the Aim exchange until Zhang scooped it up, has millions of people who pay $10 a month to listen to music. It is a distant competitor, however, to the powerhouses of Apple and Spotify. In the six months through last June — the company’s last set of public accounts — Napster lost £14 million on £33 million in sales.
Zhang’s bet is that more than 20 years after Napster launched the streaming era, the industry is once again at the cusp of a huge shift in its core business model, this time driven by the emergence of decentralised blockchain technology that enables a more direct relationship between artists and fans, and lubricated by digital currencies. “We’re not unique at all. There’s many better investors in the music space out there. But I think the timing is unique,” Zhang said. “The next paradigm shift of the music industry is in front of us.”
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Last week he hired British music executive Jon Vlassopulos as Napster’s new chief executive.
Vlassopulos was previously at Roblox, where he set up a music operation at the $22bn gaming giant. Amid Covid lockdowns, Vlassopulos lured top names such as the rapper Lil Nas X, who netted more than $10m selling digital goods to fans who attended a virtual concert he performed on the platform.
Zara Larsson, the Swedish pop star, brought in more than $1m selling outfits and customisable avatars inside Roblox. She told the BBC that to make a similar sum via, say, Spotify, “would take a long, long time and hundreds and millions of streams”. She added: “Streaming services don’t pay the most.”
It is impossible to overstate the seismic effect Naspter had on the music industry. Overnight, every song imaginable was free to download. Record labels and artists, led by Metallica’s Lars Ulrich and rapper Dr Dre, kneecapped Napster, but not the digital music revolution it unleashed.
there is an article in today's sunday times.it is behind a paywall ,so i'm not able to access it.if it contains anything of interest and anyone dan post details it would be appreciated.