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although I am hoping that somewhere within their investments their is some good news. IT could be Magic Media or maybe the likes of TVPlayer or Simplestream, while the listed Audioboom could rise they have cashed in on Gfinity already (is this going to be invested???)
equally, the directors could continue to burn that value on their salaries and offices smoking their cubans
Short term or long term then. I reckon the former - reacting to the dilution of financial gain. The question whether to wait until something might happen or bail with losses. Looking at performance since 2105 when it started is hardly encouraging - constant fall from 2.78p Feb 2015 to 0.425p now. Some nice fundraising and loans given during leaving what now? Not a lot. Don't know if it can spike now like it did. Even if the shiny toy did have high sales, people will be bailing and taking what they can from any averaging down that goes on from here. Can't see it geting up unless something happens which is highly unlikely given past record. Must write 50 times: Do not put money into investment companies on AIM.
Could easily bag from here imho - currently trading at under a third of NAV.
Better waiting for what YOLO are gone come up with soon ,I think.
what a s**t stock, seriously considering selling my meagre holdings, taking the 40% loss and moving on but I will probably stick around for the next spike and bail then also
it can also be because currently roxi is not attracting as much interest from the investor as much as anticipated hence yolo has taken strategic decision i.e longer term outlook to help roxi to develop further their product until the ipo as both yolo and roxi are in the same boat so from yolo's perspective currently diluting their shareholding now is better in the long term as yolo management believes as roxi becomes more exposed to the market and product further develops it can generate higher return i have many experience with aim and i had many times i exit with a loss and few months later sp went up 80%~200% which was annoying typical example was today i exited msys with a loss then today spike up by more than 300% i made a huge profit with val this week but watching msys going up made me a bit depressed one thing i make sure with aim share is its cash position and yolo has near 1million in cash hence the reason i'm still holding if roxi gives positive sales update this will spike like it spiked up 90% when roxi was launched but i will exit if that spike occurs so you are betting your money if roxi will give positive sales update especially as it's near christmas season if sales is positive you gain a lot if sales is negative you lose your risk your decision your reward
True - but ordinarily you you expect the loan amount back and not 'release' that very amount to the borrowing firm in the form of nominally price shares. Still can't get to any reason as to what just happened.
Interest on loan notes at 10% ?
It doesn't get any better the more I think about this. 5th June: Yolo subscribed to £500,000 new loan notes and converted £1.415m exisitng notes into shares. General fanfare of trumpets as Yolo then own 41.43% Magic Media and MM and they are going to make s shiny new toy. 27th June: Half- year report talks of independent share value estimate of 1.5p. It is now 0.44p. 20th September: Yolo sells 1,743,023 shares in GFinity leaving 400,000 on the books. That is a sale of 81% of Yolo shares in Gfinity leaving a measly £68,000 on the books. 7th December: Yolo announce it is to ’release’ 1,026,979 shares at a ‘nominal’ value to help MM with their fundraising. Magic Media holding to fall to 18.6%. The shares are being acquired at 50.8p by new investors. 50.8 x 1026979 is around £500,000, is it not, that coincidentally is the amount of the June loan notes. What actually are Yolo gaining from all of this?
I think I will continue to hold, let's see the next update be interesting to see how well Roxi is selling. Still have a slight glimmer of hope for this on yet.
Sure people like myself are disappointed with the update regarding the IPO and magic media. too good to be true wasn't it.. Stuck here now. refuse to sell at a loss.
Aim a heaven for scammers ...Crooks .
Probably developed to entertain themselves ,while they count the days till funds were needed ...
Gige, Couldn't agree more re magic. Its not even karaoke, i asked the co whether it was true karaoke, and they said no its lyrics on the screen whilst you listen to 'normal' song.
Made an inquiry about this last RNS ,,and YOLO was forced to let go of those shares ,or MAGIC would not be able to get the funds, and not able to continuing .So I guess chosen between losing 22% or lose it all ,they opted for the latter .Magic to me is a big P.O.S....
I suppose it will depend on how well the business does. They have a very long time to consider it anyway 1/12/19 (i think) they can buy 33% lower than the ipo at any point.
Who can YOLO buy the shares from though? If they are been asked to give up some shares I wouldn't suspect that they are going to buy them back MagicMedia
IPO wasn't completed in time and allows YOLO to buy shares at a cheaper price, as well as earning 10% interest on loan notes. The product is already in full swing and selling seemingly well in the US. Far from disappointing.
Had re think on that news and sold out. I was led to believe that this pre ipo funding round had been completed months ago and they were going to launch full tilt at USA market to get the key Xmas season. Seems not so I'm out...for the second time! Will watch with interest
It seems a bizarre decision. There must surely be something more to it. Im not in yet but was getting ready to jump in. I have to do a rethink but pretty sure i will go ahead
on negative: if magic media was gaining great interest from the market then why would yolo reduce its stake...it is understandable if they were paid to sell off some stake but rns doesn't give in-depth detail of the transaction. it said it gave new investors yolo share for nominal consideration which means for free..which doesn't make sense investment company is not a charity why would they give out for free on positive: current market cap is very low and sp cheap yolo has near 1million in cash and they are invested in other company as well which is progressing well also there was a spike up of 90% when roxi was released and recent rns stated recent funding will lead to new product being released in 2018 hence there can be a spike when such news land in 2018. also even if yolo holds 18% of magic media if ipo (forget about 100million target that was just being very ambitious) if ipo is valued at 25million then 18% mean yolo has 4.5million+near 1million in cash+other investments and current market cap is only near 2million...so sp would spike up big time with ipo the reason i'm not selling at a loss is because sp is all time low right now ...if sp was at 0.8p~1p with yesterday rns the sp would have dropped 30% but the reason it didn't is because sp is currently already low so i will hold
Don't mind at all Kilman. I do yes - there would be no interest for me to post on the BB of a firm in which I don't invest. I hear that people do, but I am not one of them. I make decisions to buy and sell like anyone else who has working experience in the community who takes up personal positions.
I think destitude said he was out yesterday
IsolatedBod/Destitude, do you mind me asking whether you have a position in this stock?