Member Info for Armada

I am talking about the present situation and saying that there is more up side in the share price. Going back to COM era in 2014 when the price went up to 11p and then came back to 0.5p. If any investor bought at the hight of that price,I am afraid they will not recover their losses in the near future.

Suppose, if the company had money today and returned 50p a share back to stakeholders, the share price will come down to 63.5p. We would like the company to invest the cash prudently for growth and increase profitability in the long run. There are only 12 million shares in free float and the rest are held by institutions and co. directors. This stock has been over sold massively in the last few months and the buyers have returned. Now is the good time to buy. At 113.5p the company is valued at � 23.6 million. With � 23m cash in hand after the deal the market is valuing the software business at only � 0.6m. The stock needs to go up by at least 20p in the next few days.

The important the remaining Software business has increased revenue from 1.6m to 5.3m last year and made 1.3m after tax profit. With a very high margin business the future is promising if managed professionally.

Now the question is how much value is given by the institutions and investors to the remaining software business. The company will have cash of � 21.6m + �1.4m = � 23million. At today's price of 115p the company is valued at �23.9million. I think the fair value is much more.

I have just been able to work out how much Atlas has made from this conversion. Yesterday they sold 5.9m and today they sold 19.5m shares netting them �371,185 and they paid only �315,000. Therefore, making �56,185. NOT BAD

Holding 2.2million at an average price of 2.4p and happy to hold for long term. I think there will be another conversion of bonds on next Tuesday at 1.3625p

If they have converted another �350,000 at my suggested price of 1.3625p, then Atlas should have received 25.688 million shares.

Based on the lowest closing price of shares on 17/5, 22/5 and 23/5 respectively at 1.375, 1.35 and 1.375, the next conversion will be at the price of 1.3625p.

According to my calculations, from Monday the next conversion of bonds will be at 1.40p. Atlas Capital can choose three lowest closed prices in the last 20 trading days before converting any bonds. The lowest closing prices on 24th April, 9th May and 10th May were 1.40p

The main reason for any directors not buying shares in their company is either they have been granted options/warrants exercisable at a fixed price or they are allotted free shares by the company.

Atlas Capital are making about � 50,000 from each conversion � 200,000 bonds.I think they are happy with it. They have paid only �180,000 as initial investment and they are making 0.2p on 15m shares (�30,000).

On 7th March Fund raising announcement, under the heading, Key Details, it says: On the maturity date, any unconverted bonds will be converted into mysquar ordinary shares, with such number of ordinary shares determined by dividing the principal amount of the unconverted bonds by the average of the LOWEST three days volume weighted average price during the period of twenty consecutive trading days prior to the maturity date. So Atlas Capital are free to choose any three lowest price days.

You are right Dan-de-lion. I thought 3 days have to be consecutive days. In fact Atlas can choose any three lowest closing price days in the last 20 trading days.

If Altas don't convert any bonds today, the next conversion will be at 1.42p based on closing share prices on 23/4 @ 1.425, 24/4 @ 1.40 and 25/4 @ 1.425

Very poor management skills about handling of announcements. The figures are quite impressive. They should have been shouting from the roof top. Profit of �2.4m puts them on a P/E of 8. I think the price should gradually be rising from here. Good Luck LTH

There should be another RNS later on today about more conversion, as today is the last trading day they can convert at 1.29.

As I said before, Atlas can convert more bonds at this price till 30th April. After Monday they will be paying a different price which could be much higher.

A chief Executive being paid � 365,000 a year and he doesn't communicate with the share holders, doesn't rectify his announcement of 25/1/18 and doesn't care about the falling share price. He must be living in a dream land.

Looks like Atlas Capital wouldn't be converting all bonds into shares at the price of 1,29p or 1.31p. They still have next 4 business days to convert at these prices, otherwise they will be doing it some time in future at a different price. Good luck all LTH.

There will be an update on Mysquar site on Monday when the second conversion will be admitted. By selling 30m shares at 1.50 Atlas would have made 100,000 pounds because they only paid � 360,000 for the converted shares.