Member Info for Armada

It's not always easy to raise money for AIM companies. MYSQ has done placing in July last year at 3.75p. At least issuing bonds is better than CLNs. We all know that AIM companies share price goes up and down & behave like a yoyo. For example:
COM (Redstone) was valued at £96m at 11p
Quindle (Watchstone) was valued at £ 2 Billion at £6
Tern was valued at £ 124m at 55p few days ago and now at £52m

We will see more conversions at this price before 20th July. Any conversions done after that will be at a different price (i.e may at a higher price)

Don't take any notice of TW followers. When they are writing their b/s here they don't use their brains. If the stock will be 0 by next Friday, then the biggest losers will be Atlas who have invested 2.2m and the stake builders of 122m shares. These institutional investors are not taking any notice of these s/bags so we should also ignore them.

On 25/6 the company took away the voting rights of 14.5% mystery holders. MYSQ would have written to them on 11/6 to disclose their identity and gave them 7 to 10 days to respond. On the other hand, mystery holders kept on buying when ever they could. They must have bought loads between 21st and 29th especially on 22nd when 73m shares traded and the closing price was 1.075. That's why I think they must have crossed 20% by now. IMO

MMs don't have much stock on their books. All the sold stock has been snapped up plus the 10m bought at 1.45p. We have serious buyers waiting to buy more. I think soon the mystery buyers will have a stake above 20% and they will come out in the open. Whether they will decide to sit on it or make a bid, the time will tell.

CanaryDwarf, good luck with your switch to UKOG. I hope you made some money in MYSQ or you had to sell at a loss.

I don't think it's MyPay. Their stake of 72.464m shares at 1.38p was valued at £1m. AT 1.10p a share price, the value has come down to about £ 800,000. Why would they sell now, knowing that this is a temporary set back and the price will recover very soon. IMO

We all know that Eric does take interest in reading our comments on this board. You never know he might get an idea from our discussion. At present the company is valued at only £11.5m even after including the presumed conversion of bonds at 1.09p. At the time of IPO in June 2015 it was valued at £16.5m. Very under valued at the moment in my opinion.

It doesn't say anywhere Atlas have to sell straight away after every conversion. For example if Atlas doesn't convert for two years, then MYSQ will convert the bonds and I don't think Atlas will be expected to sell soon after. If Atlas can convert at 1.09p and hold for some time, they can easily double their investment in the next few months.It's an investment company and they do invest for long term as well. On the other hand MYSQ can use their facility of 1m pounds from Rising Dragon and stop the predator from having the company cheaply.

Very good post BBF. I agree with you. Atlas has already made about £ 450,000 to £ 475,000 from their previous conversion. If I were Atlas Special Situations fund manager I will convert the lot at about 1.09p and receive 204m shares, which will be 19% of the share capital. I will declare my holding and sit on it. After that we can all imagine what can happen.IMO

The mystery investor's average buying price is much higher than the current market price. We don't know for how long they have been building up their stake of 122m. We know that there were lots of chunky buying at around 3p.

Bruce, You didn't read the full message. I have added 200m Atlas shares and presumed their conversion of bonds at these prices.

I also think it's not Atlas. Who ever is selling at these prices must be incurring a loss. As I said before, if Atlas do a conversion now they will receive about 200m shares which is 19% of 1045m. Institutions hold 216m which is 21% and the mystery investor with 122m shares have 12%. The mystery investor will have to buy all of Atlas shares to have a holding of 29.5% before making a hostile bid and force us to accept low bid price. I don't think they can buy that sort of holding at current prices. Therefore, the share price has to go much higher at some stage.IMO

Recent selling and buying could be adjustment of holdings. If there are 4 holders for 122m shares, may be they are bringing their holdings to under 3% and a fifth investor is buying the lot everyday. At present 122m is 14.44% of 845m shares. This way Mysquar can't force them to declare their names.

I have looked into Atlas Special Situation fund where the company says that before investing into any company they do lots of research and invest for long term. Here is my scenario. If Atlas do conversion at low price of 1.12p they will get about 200m shares which will be 19% of total shares (ie 1045m). Investors holding 122m shares will become 12%. The other 28% holders of 216m shares will be reduced to 21% of total. In this situation if there is any hostile bid, Atlas Capital will be a big role player. Atlas has already made about £450,000 to £ 475,000 from their previous conversions.

I think most of the sales and some buys have been done by day traders in the last two/three days. They buy and want to make a quick profit, than there is no movement in price and they sell them. The good thing is end of the day a big buyer is ready to mop up. IMO

The company has written to holders of 122m shares to disclose their identity. On the shareholders register these holders have to be holding more than 3% which is 25.35m shares. Therefore, there can't be more than four holders. Secondly, people who are selling at 1.11p to 1.15p must be incurring losses. I don't think they were able to buy at under 1.10p at any time last week.

As the company is incorporated in BVI, the same rules don't apply about discloser of holdings. Because the company is listed in LSE-AIM market, therefore, the company tries to follow AIM rules. I don't know what the company or the FCA can do if the mystery holder/holders still fail to declare their position. On the other hand who can stop them from increasing their holding to 29.9% once the converted shares from Atlas are available.

To support your argument with facts. Just saying the price will drop to .85p isn't good enough. Give us some facts how you came to predict that price. I have always ignored baseless arguments and have only followed my own judgement.

Based on the closing price of the last three trading days ( ie 20th, 21st, and 22nd June) the next conversion by Atlas will be at about 1.17p and if they decide to sell, they wouldn't be selling at under 1.30p IMO