Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Why Boothy - there is no context to RNS in terms of how it benefits MOS just like the last seven RNS's before that?
The structure of the company feels all over the place at the moment - I really don't think they know where they are going and are just hoping that something will come off a bit so that they can do another shares issue to raise more funds which in turn will prop up the directors remuneration. I think everyone sees this as high risk because of this and I am not sure that there will be a recovery from here unless there can be a clear collation that new news will equal greater revenue.
Since June mobile streams have had seven RNS's relating to agreements, new games, new stores and partnerships.
11-Oct-18 07:00 RNS-R Mobile Streams break new ground in India Company Announcement - General
26-Sep-18 07:00 RNS-R Launch of New Mobile Game Store Company Announcement - General
13-Sep-18 07:00 RNS-R MOS launch Electroneum Cryptocurrency in Argentina Company Announcement - General
31-Aug-18 07:00 RNS-R Mobile Streams branch out in Latin America Company Announcement - General
14-Aug-18 07:00 RNS-R MOS announces launch of Augmented Reality game Company Announcement - General
31-Jul-18 07:00 RNS-R Mobile Streams announce new and exclusive games Company Announcement - General
15-Jun-18 07:00 RNS-R Mobile Streams signs agreement with Electroneum
While I welcome these news feeds the one thing that lacks from these announcements is there is no indication on how this will improve revenues and benefit investors. This company needs to start being run as a business - for instance where did the milestones go that was suppose to measure progress in India against, a lot of people investing in the rights issues where sold on this but I for one have no idea on whether this is still being pursued any more?
Yet again another notification without any detail on how it will improve revenue and drive the company forward - this is the reason why investors no longer get excited about this share.
No trading update this month which is unusual. It’s obvious that the board were hoping that all of the recent news feed would bump up the share price so that a placing could be made and dilute the long suffering shareholders here that have seen nothing but the board members increase their pay year on year.
Can see this another 50% down by xmas unless the company can produce some meaningful figures that equate to a long term strategy to create more revenue. A start would be to decrease the boards pay in line with the decrease in revenues.
Invested or not here the first page I will be looking at when the final results are published in November will be the directors pay section. If “the highest paid director” has increased there renumiration again off the back of what will be increased losses then you will know the company is run for one persons benefit only.
I am tending to agree with you Destitute and I will make a call on my remaining holding once I see the next trading update. In terms of your self entitlement comment I am still fuming after finding out about the pay rise the highest paid director gave himself last financial year - even though losses had tripled.
Where are the details in this RNS - how does this partnership benefit Mobile Streams and how does this fit within their business model. Feels like lets get involved in as many things as possible and see if any of generates any turnover. India obviously isn't working and I am with others in that they should have pulled out of Argentina a long time ago, however it does generate a cash flow (even if it is at a loss) and enables the directors to justify their wages. With all these deals in the bag surely this calls for a pay rise this financial year!
There will definitely be an upside for the directors
The only thing that will be positive here going into the next financial year is the directors pay packet.
The half yearly will be negative that’s for sure. The only positive will be for the directors as they give themselves another pay rise. It would appear that either failure gets rewarded in this company or they are rinsing it dry. Highest paid director getting a pay rise off the back of massive losses from 2016 to 2017? This is AIM though so fully expected.
From 2017 Final results: EBITDA* loss of 1.48m GBP (2016 loss: 0.65m GBP) Directors renuneration: The remuneration of the Directors for the year amounted to 329,000 GBP (2016: 328,000 GBP). The remuneration of the highest paid Director was 242,000 GBP (2016: 202,000 GBP). Yes the highest paid director gave himself a pay rise between 2016 and 2017 even though MOS almost tripled their loses! 2018 losses vs director pay? Unbelievable. Go figure that one out.
And a very large salary at that... way more then average. Said it many times before on this board, if the company is not making money then the board should not be compensated so well. A normal wage should be paid then there should be bonus incentives on top of that based on performance. The last 2-3 years has been all promise and no delivery yet there has been payments to board members are there for all to see in the published accounts if you look hard enough. What a way to run a company with investors hard earned money?
A lot of constructive posts on here today I see! Just noticed that India has now overtaken Argentina in terms of percentage of site visitors to the gaming website - hopefully a good sign but doesn’t mean that this necessarily translates into revenue.
That should be 20-25 percent
Anyone got any thoughts on the continued decline in the Argentinian peso and the impact on trading. Half year report stated that this side of the business is stable but since then it’s value against the dollar has been devalued by another 20-25 which would negate the cost cutting exercises that have already taken place. India holds some hope for the business direction but they need to just pull out of Argentina if it’s not making any money. That and the directors need to pay themselves less.
Unfortunately the Argentinian peso has dropped to a new low against the dollar but I am hoping that trading in Latin America for mos remains stable as they stated in their half year report. If they start to make losses again they should just pull out of that region altogether and reduce the staff bill (inc. SB’s) until / if the Indian market starts to show increases in revenue.
You’re right why would SB cut off his cash cow... especially when unwitting PI’s are willing to fund it via the latest round of fund raising.
I think that’s where SB pays himself his £300k plus salary per year from and other directors... so yes I agree stop paying himself that until they turn a profit and the company is no longer making a loss.
I only ask as I think you are talking complete nonsense. You’ve just confirmed that.
Achievable based on what?
Looks like a buy to me