Member Info for AlbertPode

Are you getting impatient while we wait Italian? LOL. Digging up stuff I've never heard of.
Irish name but Scottish roots by the looks of.
Actually I was listening The Great Kat again who you introduced a while back. A bit like Nigel Kennedy on steroids but good stuff.
Not much more to say about the Stones. Proper music, still touring, and still legions of fans - speaks for itself.

They certainly seem to be inspiring confidence. And I thought the initial $6.06 payment was pretty generous under the circumstances
I'm wondering how many of us were still left in at de-listing. Blatant tree-shaking would have thinned the numbers down. Napster wanted as few PI's as possible. Also done for the benefit of N & G who pretty well dictated their own terms and continued to pick up cheap shares until the end.

With the app now having been completed, I agree AM's work is now done. Although like us he is still a shareholder.
World events have hit the markets, crypto/NFT in particular , and I think rules and regulations still lie ahead.
But the malaise won't last forever, and technology is always going to be an ongoing development.

Morning Italian
Reading the Googles unearthed by Kabaa (one is Bloomberg) there has been plenty happening - a smart updated website, the app completed in early June, (which AM must have been overseeing), and Emmy Lovell is continuing as CEO.
IMO this was all planned as early as April 2021 when she was appointed as CSO, to the point where Algo may yet have a NASDAQ listing in mind, as mentioned in December. Though not next year.

Offler was very positive about Algorand when the deal was announced. He had a holding in them.
Certainly they look focused and seem like they mean business.

See my post of 19 May.
Note re 4th payment - should read $25m not $2.5m.

I've heard nothing further from ii, so I think it's safe to assume they have not been updated either.

It looks like something Algorand are working on, and that they would like to go down the token route if they can.
If this happens, our life as Napster LTHs looks set to continue !!

Morning Italian.
In my post of 19 May I said the 4th payment (cash in lieu of tokens) would be $2.5m, rather than $25m
Two other posters did correct this, but my apologies anyway.

I've heard nothing more since from ii, but they have been on top of this all along and any update they might give, I will pass on.
In their December 2 RNS they said to contact 'Transfers@Napster' for any information required. It might be nice if they came out with something anyway. Personally I haven't got a clue what the company is doing right now.

IMO the most likely outcome will be the 4th payment in cash. A strong dollar would be good, and the damage not nearly as bad as we feared.

Sorry Italian, I've got a bit stuck with this.
It doesn't help that I'm using a new computer and usual there's no manual with it.

However in my post, I did copy what ii said almost verbatim, and I have re-checked the figures.
The fourth payment ,if it were in cash would be negligible. As we've discussed, it would be worth taking a chance with the tokens, if they can find an uncomplicated way of doing it

There are other posters on here who will be with ii, and should have had the same secure message that I got from them.
They should be able to confirm the figures.

RBBe, just go to your broker's web page. It will show the current value in USD and GBP but to transfer funds to your bank you will have to convert to the latter. There is a cost in the spread but as Italian says, it's not huge.

Italian, what started out as a straightforward ISA investment is now anything but. That said, the cash alternative to the tokens is pretty mean, so I think I'd prefer the tokens even though right now I'm clueless about them.
If ii come up with any more info about this, I will of course post it.
This might all still come good eventually. Otherwise why would the Algo's consortium be buying it?

Londondan, I'm not sure how best to describe you - obtuse or obnoxious?

Hi Italian, Offler.
All this is IMO as always, but maybe this is anything but finished and that Northern Trader may have had a point recently in saying we could still be shareholders.
The initial cash payment could have been worse, but in addition the plan is to let us have a quantity of Algo coins, which in effect means we are stakeholders in Algorand , and thus Napster. (Hopefully it will be in as simplified form as possible for the benefit of Italian and me).
This looks like a passive long term punt, but it may have legs. That said, Crypto is still in its infancy, and much regulation lies ahead.
I think we have to accept this all about music streaming and that live gigs have been scuppered. They have anyway to a large extent, and are unlikely to fully recover.
But the tech must have something, otherwise Algo, Hive and the rest of the consortium wouldn't have bought into it. Assuming there was no dilution this was a $27 million purchase. Not huge, but money nonetheless.

I agree Italian, AM is a clever techie, but a bit naive in business per se. They seemed to change NOMADs every five minutes. They arrival of Emmy Lovell does seems to have straightened things up

PS. This was drafted a bit earlier outside overlooking the Solent, So if it doesn't make sense , it's because I've had a bit too much sun .

The cash has now arrived. It should be possible to transfer it into the bank - subject to it being cleared.

Not sure what X stands for.
I'm with ii. There should be two columns. One showing Napster the other NM Inc.
The quantity is the total of your original holding divided by 750. e.g. if you had 750,000 you now have 1000.
They sent out a secure message yesterday about all this.
If you are not sure, be best to contact them. They are approachable.

so this is from ii corporate actions.

First payment. $6.06/share. Not sure when yet.

2nd payment. There is an escrow fund of $5.2m. after admin payments the remainder is distributed amongst shareholders on 12-month anniversary of merger agreement.

3rd payment There is a shareholder fund of $500,000. Again after admin costs and 12-months remainder to be distributed among shareholders.

4th payment. Cash or tokens. Algo are to launch Napster tokens. Shareholders are to receive 7% of total allocation of tokens. If there is no launch within 12 months a further $2.5m cash will be set aside for distribution to shareholders

ii say they are investigating options available re tokens as they are not likely to be usable on their platform.

So as i see it the only way to profit from this is if you hold onto Algo Napster tokens for the long term - IF you have the patience.

Just received the email from ii.
About to try and take it all in.
Maybe come back tomorrow.

Many thanks Italian.
I was awaiting to hear from ii, but expect them to say something similar in due course.
So we get some of our money back with the promise (?!?) of more to come later. Let's hope crypto is more flavour of the month by March 2023. Like you, I will need an induction course in it.

Exciting life being part of Napster, isn't it?

Hi Offler
Yeah, I'm fine thanks. Just hoping Napster do anything to change that !

A number of music medias together with Morningstar have reported this as a buy out - nothing ambiguous. So unless we hear otherwise, we have to take it at face value.

It seems Hive and Algo dipped their toe in the water with Limewire and Napster is (relatively speaking) the big signing.

What is encouraging is that they, together with the rest of the consortium, are keen on the Napster/Melody tech.
The app would have been completed months ago. Maybe even in Q4. And all this was in the planning even before last December. IMO.

It looks that way, doesn't it Italian?
I don't quite see the synergy between Naps and Algo but maybe the latter do.

Forget any info from them. we'll get told when the deal is done - a bit like all the December 2 stuff that came out. The big players had already voted on it.

OK, we may not get the unicorn we once hoped for, but our big cousins, AM, SH, N & G (16.5%) et al, all have skin in the game, and they're going to have to green light all this.
They're in this as much as we are. More so, in fact. So what price, said green light?

Hi Italian
I'm with ii who have previously given me the heads up by email when there has been anything that needs my attention. This is followed up with a secure message on their site.
I have not received anything although interestingly they have added an extra column on my trading account details.
Previously it just showed Napster ordinary GBP £7.50.
'Napster Music Inc consideration shares' denominated in dollars has now been added. No figure yet but it looks like ii have been advised of some intention, by someone.

Brilliant stuff. You're only a year behind the rest of us.

Didn't you know she was appointed CSO this time last year??
As such, she has in effect already been running the business during that time.

Thanks Rum for the explanation.
But then am I not right in saying that any cash compensation will have have to be dealt with via the brokers? Your post rather supports the point.
The important bit is, what are they valuing it at.

Thanks also for engaging with that other prat. I gave up long ago. Its like talking to a pile of sawdust.