Intriguing situation here24 Oct 2019 11:18
£2m mcap. If Asset sale goes through for $38m or so then there should be some cash left over from MTMY on top of the cash rebate in Dec. So on that basis it looks cheap. Could end up being a cashed up clean shell with no debt or liabilities.
However, it is an Israeli company, so that is a red flag. Also the company has mentioned numerous times past 6 months about the potential to struggle to continue as a going concern. I'm assuming since Team Internet is still a decent performing asset the sale should be attractive to a buyer, and as per 17th Oct RNS looks like final stages. Which is obviously great news.
"The Company requires additional capital in order to fund its liabilities (such liabilities include, among others, liability to non-controlling interest and convertible bond liability). There is no assurance that the Company will be able to obtain such required additional capital. The Company believes that these conditions raise substantial doubt regarding the Company's ability to continue as a going concern. For further details, refer to Note 1c to the Company's financial statements and to the Auditors' Report." - From Interim Results
Anyone know how much cash MTMY has in the bank?