Member Info for bonum

Yes, well worth a look!

Atb

I suppose it's not surprising, being heavily u dervalued, with the oil shows already at Heron and the current Gazelle well being drilled atm.

Atb to those who decide to tough it out here.

Looks like we're positioned for the price recovery now, imho!

Atb

I'm getting ready to majorly increase my holding here, via any Open offer allocation any additionál stock independent of the open offer - In the event of a Farm in, then pretty much Buying from the bell.

Sold all my TUI stock as well as various other smaller holdings and with a view to significant ROI, contingent on a clear path to drilling being established, through said placing or Farm in.

This is certainly going to get very interesting indeed and reassured having an existent holding in place, regardless of my view towards the former option being more likely at this juncture, imo.

Oil or no oil, the price appreciation from current levels should be significant, as long as drilling is confirmed through either of those means.

Atb all & have a good day

That's why I suggested Toby's buttt needs a good spanking, regardless of whether he may have a positive inderlying inclination to such action.

Perhaps there is something less than 'above board' going on, regarding Private investor interests here - keep the share price depressed, get a low ball Tender offer in place......and once many PIs divest through that, sell off the company and reap massive bonuses for doing so!

There really should be more confidence in Managent working towards Shareholder interests.......but all this twaddle about 'consulting with shareholders' regarding potential dividends / tender offer is essentially a way to delay doing anything meaningful but at the same time, throwing out another carrot for us to grasp on to.

Come on Toby - pull your pants up and do something for Ordinary Shareholders!!

"How  many times have we seen this???, another false dawn, or is there some genuine hope on the horizon"

Who knows - it may indeed be such but if it is something tangable, confirmed by an RNS and not one of Jay or Guitarman's emails, then we see an absolutely massive re-rate!

That's the compelling aspect of this stock and the dillema faced by those looking to innvest (or even divest). My approach, as mentioned before, is a 'staggered Buying one', thereby staying invested but needing a confirmatory news release from the company, to significantly increase my holding level.

But in the meantime, Ì can certainly enjoy the 'possibilities' and current buoyancy of the price.

Atb & have a dilemma free day!

Hence sold out, due to dificult conditions heading through 2020 - however, only my opinion and will reassess in a year or so.

Atb all

.....on a seperate note, well done on the Operational front ;)

Maybe they should have held off on their own very generous Pay Rises, until all such legacy contracts were effectively concluded!

I remember when the share price here was being crippled and they were giving away 'gifts' of Harley Davidson motorbikes & Designer gear to staff in their US offices..!

The company's culture hasn't changed despite Toby being in charge - let's have something 'concrete' back to the small private investors who have bankrolled this company for years.....and received absolutely nothing but a collapsing share priçe.

Atb

For some reason Ì find this shsre quite fascinating.......accepting I have a much smaller position & lower avg than many other holders, hence have the luxury to view it in that way.

It's quite scandalous on many different levels and involving many players, including the CEO, Partners and certain private investors.

However, it's also compelling from a Risk v Reward perspective and the downside (wipeout) v Upside (multibagging) from these actual price levels.

Good to be holding but let's see how it actually plays out.

Atb all & have a scandal free day ;)

Let's hope they dont spend an extended period of time 'exploring the options with shareholders' - it seems like shareholders have been used to effectively 'bankroll' the company, who will now possibly put forward a meagre Tender offer as a precursor to an eventual sale.

They should indeed have just announced detaìls of a Dividend initiation, rather than further 'exploration' of such!

At least on an operational level, they're making progress......hence the timing to initiate sidelining smaller private investors now.

We shall see!

Atb all

Toby Hall, CEO of MMX commented:

"We remain extremely encouraged by the progress year-to-date across the Group as we continue to deliver on our strategy of producing highly predictable, balanced revenue streams through organic growth, innovation and selective acquisition which is now resulting in healthy cash generation for the Group. It is in turn enabling us to settle the legacy onerous contract that has been a substantial cash drain on the business over the last five years from existing cash resources in the business.

 "The £1.0m buyback, initiated on 26 July 2019, will continue whilst, during the second half of the year, we explore with our shareholders a more meaningful return of funds either through the introduction of a progressive dividend, a larger tender offer, or a combination of the two, without a need to kick my buttt. Current trading remains positive and whilst the full year outcome will be dictated by the timing and recognition of revenue from new initiatives, notably AdultBlock, we are encouraged by the cash generation of the business and trading remains in line with market expectations.

"Against the backdrop of continuing momentum, Management would like to thank the Group's staff, commercial partners, shareholders and Board for their support over the last three years which has successfully allowed MMX to transition into a highly cash generative company enabling it to be increasingly valued on fundamentals, not sentiment."

The H1 results show a substantive improvement in revenue mix and cash generation from normal operations as a result of the focus on automated sales through the registrar channel and expanded renewal base that has benefitted from the ICM acquisition completed in June 2018.

Financial Highlights

·     Registrations up 19% to 1.82m

·    Revenues up 39% to $8.9m (H1 2018: $6.4m) benefitting from the full six month ICM contribution  and 9% channel growth from the original MMX portfolio

·     Underlying revenue mix significantly improved:

o  renewal revenues 68% of total H1 revenues (H1 2018: 53%) covering 97% of all costs         (partner payments, cost of sales, and operating expenditures)

o  non-channel brokered revenue reduced to 10% (H1 2018: 25%)

·   Operating EBITDA, net of auction revenue, improved fourfold (306%) to $2.7m (H1 2018 $0.7m)  delivering H1 unaudited EBITDA of $2.6m compared to a H1 2018 EBITDA loss of $14.6m

·     Net earnings of $1.7m compared to a H1 2018 loss of $14.7m

·     EPS of 0.19c (H1 2018 2.07c loss)

·    Cash inflows from normal operations (net of auction revenue) of $8.6m (H1 2018: $6.3m) with cash generation from normal operations up to $2.2m compared to $0.5m H1 2018

·     Cash of $8.9m at 30 June 2018 post payment of $3m loan facility and $1.8m payment to exit onerous contract

 

Those sucking at 'The Source' are still blowing Art's trumpet, lol......so let's see how this all plays out ;)

Atb all & have a good day

No problem.......just hysterical posting!

Refer to the financials to assess the current state of the company - very good value at this price level.

Atb

Let's hope not!!!

.....not when there's a lot more coming ;)

Atb

Positive RNS - Price rise!

Atb all

Blue day today!

Atb & have a good day all

LOL, I'm sure you'll do exceedingly well regardless Specialist100....!!

Atb & have a splendid weekend