Member Info for Bennster

The whole market is a drain right now - thankfully my exposure here is not so big and I've instead bought more AFN directly.
Markets can be irrational but a situation like this is extremely unusual - where the NBV of shares in another company and cash in hand are worth substantially more than the whole entity... It's reached Warren Buffet territory whereby somebody might just as well buy this whole company, shut it down, sell the shares in AFN and keep the cash.

what the chuff is going on here????
The book value of the share in ADVFN is now worth more than the SP.... OBC own 17% of AFN, which is worth £3.5M
OBC is worth less than that????

I wouldn't expect more RNS in the next week or so Knigel - I may be surprised, but they'll all be up to their necks on delivering the concert right now.
I think having a broker's note mid June makes sense - the year end results will be messy when they come out because they don't cover any of this KPOP activity - people who don't know the company's direction may be spooked.
Better to keep the powder dry and deliver a blockbuster RNS at the same time to show what 2022/23 has in store.

The broken clock still on the mantlepiece.
Keep going Stocktrend2, you'll be right one week and get to post the "I told you so" bile.

In the mean time - the driver for the rise we all expect will be after May when the streaming has taken place and all the revenue is confirmed - I hope we'll get the full picture mid June with the broker's note - at that point we'll be able to do the maths. I have high hopes for 20p too, but in a reasonable time frame and confirmed by fundamentals.......

Right you lot!!
Own up!!
Who left the sherry within reach - you know it's bad for him.

Enjoy your trip Martyh - your feedback will be appreciated, maybe not on the music so much, but on the vibe and the cash being spent :-)
Norfolkian - sadly realists seem to get booted from all sides on these message boards. The blind rampers will call you negative and seek to discredit common sense - the derampers will scoff at you for holding long term......
For what it's worth we are of of the same mind here.

I've noticed that ADVFN board more recently - certain posters have been operating across both, sometimes I have seen posters here have their posts copied and pasted over there which I think is naughty.
I like to read here and there just to see if I pick anything up that keeps my eyes open, but the tone over there isn't great is it?
I always try to fall in the middle with my investments, because evangelism is more deadly to your wealth than cynicism.
In truth everything right now is still promises, there's no money or profit yet - at least until that concert actually happens, the streaming revenue is confirmed etc.
The good news is we are only days away, then we will have some concrete incomes to comment and calculate on. I think if we are all realistic - no big expectations this week/month - this will reward us longer term, maybe 18 months to full fruition.

Yes - ADVFN have the new directors, the Israeli led group -they are threatening to shake that up big time.
We are at a point again where the value of OBC's stake of AFN alone covers the MCAP here

Todamoon is correct that they have to ramp this to 31.5p for 10 days to qualify, but I suspect year end results or a special dividend at the sale of Phasefocus will do that nicely, and they know it.
The point is before they would have converted at 31.5p, now they get to convert at 14p, so if they do get a spike which qualifies them then they absolutely rake it in and the price will crash back as they sell up in a hurry.

This is a cracker!!!!
So in the past (2021), when the SP was being pumped these guys could have cashed in at any price over 31p and made a tidy profit.
However, now the SP has failed them they simply get a fresh shot at a much lower price!
Head they win, tails you lose!!!!!!
The correct option to "redeem" themselves was simply for those options to expire. It is clear BRH haven't got the cash to pay people, particularly these 2 on their exorbitant salaries.....

they published the result of the vote immediately after the AGM.

amen. We'll get there.

I respect the optimism ThereSheGoes, but we have seen the SP treble this year already - I believe the expectation of a streaming deal was already in the price for many.
We also had to endure the Zak Mir prophesy, then the Noel Borg twitter posse and finally the "20p this week" cheerleader - these are all the things I have hated and railed against on here for months. Destabilised SP because of the trader mentality - this is what happens.
We will get to where we belong when all the noise dies down and the real incomes are reported.

We are very close to converting promise into the "moving into realisation of value" phase - the final ticket count for Frankfurt and the actual number of streams won't be far away now. That's when we (and the wider market) will see if and how the promises stack up.
IF we generate enough free cash flow in 2022 to instigate a dividend policy, or attract a buyer, that will stir things up.

Agreed - not a huge volume today, just a bit of calm after a manic few weeks on the SP.
I suspect your last point is also important - most of us on here have full portfolios now so less cash for more top ups.
212hl - definitely some buy on rumour sell on news along with a twitter guru rocking the boat end of last week - Noel Borg.

Thanks dasalus - reinforces there's a need for resolutions 1 and 3, but still no need for 2 - don't know why they've asked for it. Cash shouldn't be an an issue after the 15th of May?

I'm sure I'll get criticised for this, but it's my money and my experience. I have voted FOR on resolutions 1 and 3 - to allow warrants to be exercised and BAU to pass.
I still can't accept resolution 2 and have voted against. If they don't want to place and have no intention of doing so then they don't need resolution 2. they can use resolution 1 and let us all in, or use the massive profits incoming from KPOP to fund expansion.
I think resolutions 1 and 3 are the most important to ensure warrants can be covered, no further dilution necessary thanks.

Thanks Knigel. I still have that nagging doubt (caused by burnt fingers) on why the ordinary resolution and the resolution 3 don't cover off their needs? The resolution 2 is out of place if they truly have no intention of placing.
What BoD's say and do can be chalk and cheese - they would never just come out and admit it - not good for sentiment :-)

I would love those numbers to be right TheresheGoes - I'm trying to keep both eyes open on the costs associated with all this activity, where money could come off those big revenues, what debts need to clear etc. so I can keep my feet on the ground with SP targets.
I am guessing large shareholding will be dwarfing mine, but this is my big play too so don't want to be swept away in a whirlwind of excitement and miss out on the right value.

as if by magic you just gave me what I was looking for (mostly) so thank you for your efforts.
Any thoughts or comments on the special resolution need?
Much appreciated