Member Info for BringMyReward

I have exchanged a few Emails with David Galan in recent days. I received some very prompt and informative replies.

I asked some questions surrounding the ICM deal. He said it’s the best way to sell our content to the US market as we don’t have any offices in the States. He mentioned the ‘N’ word (Netflix) and said ICM will be able to introduce us to new broadcasters that we have not yet dealt with, the deal covers the entire US market. Hopefully by selling our content to US customers, it might lead to some direct commission wins from the likes of Netflix etc? That would certainly make the SP rocket!

I added another half million just before the bell today, it went through on the NEX exchange. There seems to be a stalemate between buys and sells at the moment. The good news is the selling seems to have died off. According to David our preliminary results should be out in about 9 weeks (very end of Sept) and I reckon they should be pretty solid. Not expecting massive profits but it should have increased significantly.

Like others have said here recently, I believe we should be trading above 1p at the moment due to this deal with ICM, and Tern appears to be preforming well, and should continue to generate good profits for us. I’m hoping we get some news on more commission wins before results too…

Best of luck all.

Next results are FY and should be released end of September - not long now!

bickering on here for my liking. I get that people are on edge at the moment. I also get that most here have about given up on their investment, but it's not going to help by taking things out on other posters.

I've tried my hardest to remain positive, whilst trying to maintain a good level of realism. I've acted as a go-between for shareholder communication, some have appreciated it, and others have thrown it back in my face. There's only so much you can say to try and reassure people and discuss the current situation.

We find ourselves only 11 trading days away from being struck off AIM, some have already thrown the towel in, I'm sure most will know that I certainly have not. For the sake of not getting involved with the bickering, and not going around in circles with conversation, I will be back when news arrives on 3rd August (maybe).

Interesting trades - 64k bought @ 0.65 (full ask) then later in the day 50k bought for 0.6125. The spread is too big at the moment, so I'm not buying just yet...

Sausage, if we became a private company, I'm thinking JLP would probably have to offer cash only, but they could issue shares to raise the money. I think it's unlikely we will delist, and even more unlikely that JLP will want to buy us.

It doesn't matter how much money people have in here, everybody's investment is on the line. I'm not spreading any false hope. I'm simply sharing information from my conversations, it's not like I've told everyone that we are going to relist. You say my conversations have no value but that's your opinion. I'm sure plenty here would rather me post them up instead of being completely in the dark. As you've already written your investment off, why not just keep your opinions to yourself and come back when you've been proven right or wrong?

So when we found out ACI had missed the first deadline and we had paid an upfront fee for the money, you still thought we stood a chance? I'm pretty sure most here were doubtful after they missed the first deadline. You can't pin the blame on Borrelli for the investors not paying up. It was already stated in an RNS that they wouldn't go ahead with the placing until JLP made their decision. Perhaps you should avert your blame towards JLP instead? I'm actually quite confident of the investors coming through, but I'm losing confidence in JLP's ability to stick to a deadline thus far.

edzi, thanks for the well wishes, of course there is a lot of hoping involved but I always look at things realistically as well, and I am quick to point out the facts if I feel somebody is wrong.

You say Enviro is insurance for JLP but where does it say that they have rights to our assets at this present time? At the moment JLP have only put up £300k towards the JV project which entitles them to 15% ownership in the JV company, we still own 85%. So what you are stating as facts are incorrect.

We don't have to pay JLP back until the plant is producing (FACT), so it is in JLP's interest to have the plant producing ASAP. If BMR go private, do you think somehow they have more rights than me as a shareholder just because they own 29%? I very much doubt it. They will be subjected to any problems us private shareholders may face. So again, it's also in JLP's best interest that BMR continue trading on AIM.

At least we have a realistic chance of the 3 investors coming up with some money. ACI on the other hand, I think we all knew that cash was never going to surface.

edzi, like the rest of us, you have no idea how big the plant will be or how profitable. But I happen to know that JLP are looking to build a plant of the right size to make the project very profitable. A plant capable of processing say 10-15 tonnes per hour, producing Lead, Zinc, and Vanadium has the potential to produce multiple millions in profits per year, so the £2.3m (plus 30%) could easily be paid back within months.

You also state that JLP have rights over Enviro but that will not come into effect until they have invested the first £1m (phase 2 of the JV agreement). As it stands BMR only owes JLP £300k, and if BMR go bust, JLP will lose that along with the entire project. You might think JLP could then pick up the pieces cheaply, but good luck with that.

As for your no cash comment, yes we probably have very little at present, but our overheads are also very little. We have 3 private investors willing to invest up to a further £2.6m – if they are willing to do that, I reckon we could easily go to the market and raise enough cash for now, also see VIG’s comment regarding the sale of JLP shares. Perhaps do a little more research before making such bold claims.

I'm assuming spread bets would go to zero if delisted? I was thinking about taking SB's out on BMR but never went through with it. Maybe just as well but still have a lot of cash in here.

Cheers, looks like this is going to the wire before the plan is revealed.

Hi VIG, I was just pointing out that if we signed the Nomad by the 2nd, we should be ok to announce it on the 3rd.

Whilst I agree delisting wouldn't be a disaster, it certainly wouldn't be good. We would need to setup a shareholder group to keep tabs on the situation and look after our interests. How many people here have got time to do that?

I wouldn't discount an offer from JLP given the circumstances we find ourselves in. However, If we remain listed I don't think they stand a chance of buying us out. Shareholder approval and all that.

Cheers Eric, it's true, I have felt the need to keep in constant contact to keep myself and you lot informed, especially in recent weeks. It's worth mentioning that last time he and I spoke, he told me he didn't want details of his plan getting out as it would reveal our hand. Not sure if there's anything in that. He also said previously that he's not taken his salary for a while, I don't no how much truth there is in that. We're stuck with him for now so it's a case of working with him. If his plan doesn't improve our situation it might be time to work against him. Vote of no confidence?

Agreed, at face value it's 50/50 wether we delist/lift suspension. Based on my conversation with AB I'm thinking more 60/40 in our favour (lol). Not great odds either way. If we go private it might be worth some of us teaming up with the 3 amigos and taking action, get involved with sorting the company out once and for all... I hope it doesn't have to come to that, but I will do what I can to help the situation. For now we're back in the dark and should know whats happening a week on Friday. Best of luck to all.

Maybe, but there is no time to do anything now anyway. AB knew he had 6 months to resume trading, if he fails to do so then he has failed shareholders. He says he has a plan so let's hope it involves lifting suspension. It makes me wonder why JLP haven't pushed the ZG for a definitive answer on the licence conditions. This would have allowed them to make their decision, and the private investors would put up £1m for BMR to resume trading with. There's a very small chance it might happen with the next 2 weeks, if not then should we be asking why it hasn't, and is it just a way of forcing us off AIM?

If that's the case would he not just delist now? Why drag it out for another 2 weeks?

Great research, jenashon. Sounds like the perfect guy for ZM, we have a very solid team in place which is growing in strength. Some very insightful posts here recently, keep up the good work guys (and girls).

I am looking to top up next week before the news flow kicks in again. We should have some more announcements on new commission wins, and hopefully some wins through our new partnership with ICM. Before we know it full year results will be out and who knows, it might even be time for another acquisition towards year end. Plenty in the pipeline I'm sure...

I was thinking we only had 4 weeks from the Nomad resigning, but it says 'within one month' in the RNS. Assuming that takes us to 2nd August, it means we could sign the Nomad on the 2nd and announce on the 3rd. This would then allow us up to the 7th to lift suspension.

I will be very happy if we resume trading, however it's not the best circumstances at the moment, and this is likely to cause a volatile SP. We still have some unknowns like licence conditions, JLP's JV position, and BMR's cash position. It could end up presenting another cheap buying opportunity (always look on the bright side).

Once the Kabwe project is generating profits, JLP will be earning 40% of said profits. So they could sell their 29% in BMR if they wanted to, they would still have their 40% share cash income. They might want to sell at some point and use the money for another project. I believe they only bought the 29% to help protect the asset and the project.