Member Info for bunco

Great first post Ronnie... Have a wee read about the capital requirement for the payments licence though and let's try and make you second post a bit more worthwhile!

I noticed that, made me laugh... Although they're one of the few to make money from mysquar recently... Unless you're Easy E!

I hear ya Bezzy. My thinking was that as you say the buy back is our worse case as we won't have the licence, but my feeling is and has always been that a JV is hanging on the licence being granted. So I agree that mysqar with a licence might not see the share price jump, but the announcement of a JV certainly would.

Their comfort could come from the knowledge that we have the £2.2m aside for the licence. May be the plan that if we are denied the licence then we will buy back the bonds. Just a thought.

At one stage I was fairly happy with a 2p average against 2.8m shares and a 57k investment, however with this now being worth 9k I ain't so happy. However, although today's 40% plus drop is awful, when you're down so much anyway the impact ain't as bad as some who bought yesterday, I'm down 16% from yesterday. Not that this makes it any easier to take. But I suppose my point is that 90%+ of us are in damage limitation mode and with 9k on the table and the sp on its butt, I think I'll take the risk that getting the licence and developing the wechat advertising area will get us back to a point I can be more comfortable selling up. Or perhaps someone will take us over if the licence is granted, I hate relying on hope but that's all that is left at the moment. If Atlas convert at circa 0.3p then they would own 33% of the company. SVS would have 10%, we would be sitting pretty for a real easy and cheap takeover. I suspect their is some hanging on the licence as if there wasn't we could release £2.2m today by scraping the application, which would allow us to continue with remittance as we currently are and focus on wechat advertising. So I do think there may be something lined up on this which will potentially limit the loss or even result in a small profit. But still a rocky road ahead I feel, but I'm going with better the devil you do on this one. Not asking for anyone to shoot me down, just my opinion, not encouraging others to follow suit either!

Tel: +65 6725 6388 Chongs number from rns.

Futurbuilder... You're slow

How do you know they don't starrage? This cash is for a specific purpose, to market and grown the payments and remittance, they will need cash for the rest of the business too. Hey, I think it sux too, wasn't expecting it. But having to put such a huge lump of cash aside for the licence is the cause... Graham, have a wee read back through some of the rns, and on the central bank website if you have time.

The placing is caused by the banking licence meaning that pretty much all of the last fundraise is sitting aside to cover the capital requirement of the central bank,meaning we appear to be in a much worse position than we are at the moment. In addition, I think we are effectively unable to use the loan as the central bank wouldn't look favourably on us using that when we are to have £2m plus to obtain their licence, using a loan would effectively take away from that. Like the new reporting style, will be much clearer going forward how we are progressing. This one is becoming a much longer game though.

https://technode.com/2016/12/22/tencent-sanook/ It's an article from a wee while back, but I wanted to understand the tencent approach, so looking at what they did in Thailand with sanook. Initial investment in 2010 £10m for just under 50%, but active in the company from that point before taking full control in 2016 and changing to tencent Thailand. Also notice there is a Myanmar base role on the tencent Thailand website, looking for someone to develop their music app JOOX. Hopefully they have mysquar lined up for the, news/entertainment, games, and mobile money elements of their business. https://www.tencent.co.th/th/jobs/1993 Same approach as they took with sanook would suit. But you only get the benefit from standing strong while they accumulated the near 50% share!!

Sorry to hear that mcsquares. All the best with your treatment.

Chris2 = Tool

I don't believe that although there was a huge number of trades since 12noon with only 6 being sells (albeit one huge one), that this was all PIs picking up shares. Can't see it, there were no trades in the first 2hrs 40m of the day, no PIs wanted in then. Bear in mind we churned through 30m+ shares over last 2 days at a higher rate, I don't think there was the sentiment to support another 18m in buys by PIs today, most of whom are somewhere near fully loaded. For me it has to be a big buyer in the background, taking shares in chunks which prevent a leap in the share price. There maybe some PI and trader transactions in there, but it's an odd looking picture which we've seen over the last few days if we are to assume it's the work of random uncoordinated PIs.

They only lost 50% on the sale of the shares.

Seathestars, not sure I get yours point about Atlas. If Atlas are to take the same approach as last time and make 10%-20% on the shares they convert, then it doesn't benefit them to have more shares to sell, in fact it's a hindrances, the more shares they flood the market with the more difficult they will find it to make their 10%-20% and the longer it will take. As Atlas are working on a set investment of £2.2m the only benefit for them in holding off is to get a lower share price, it doesn't matter to them how many shares they get. And the only benefit in getting a lower share price is that they will make a greater profit when they share price shoots back up... Which we all want to see. The only purpose I can see behind Atlas seeking to maximise the number of shares they get when they convert is if they have arranged to sell the shares to another party who will benefit from owning a higher percentage of the company!

If its true a potential buy wants rid of Eric and his cronies before a takeover then this is just another hurdle cleared in terms of Eric no longer having anything to do with mysquar. We're marching forward at pace now!

Yeah very interesting day... Guess we are all left guessing a bit at the moment but I for one will not be jumping ship based on recent activity. There are many question outstanding here particular about where many of the shares lie, but the shares are now beginning to emerge and I think that can only be a positive thing. Would we have expected activity like this as the takeover comes to fruition, I think so. Perhaps we wouldn't have expected the price to fall, but I can see why its in the interest of a party who is looking to take us over to kick the living daylights out the share first, as our expectation of a buy out price are falling as this all plays out. And bear in mind if this is the big fish moving share then they can basically call the price to buy and sell makes no difference to them, looks like the mms made an easy 5k in the transaction today, so they're kept sweet. Looking back, imperium has 90m shares at one point, they don't currently appear on the list of shareholders. We have never had any mention of where these shares have gone, or even that imperium no longer holds them. If there is a big fish in the back ground then I would expect they have hands on these too. It sure is a roller-coaster, but it makes sense when you consider, Eric being booted to leave the ceo role vacant, licence due (would obviously be in the interest of the buyer to act before we are notified of the licence being granted), bought out of mypay agreement on profit share, remittance channel lined up... Etc.. I'm wondering if the recent wechat agreement was just to push the buyer (tencent I guess) over the threshold, by issuing the 35m shares? Given that Atlas aren't converting they could have been struggling to get the last chunk to get over the 35% required before they are obliged to offer to buy all remaining shares? PS that mysquar bashing website it's just funny, to think that someone has wasted time (not a lot by the looks of it) on that... Embarrassing!

Think we can all see where this is going, now we just need that rns that makes it clear to the market where this is going and that we're tied in with the big boys now!

Yeah, great wee vid. You can really see the value in the wechat agreement when you see how complete the wechat app is. If we have put ourselves in the position to build that level of integration for wechat in Myanmar then there will be a lot of commission in it for us. And secondly, we'll be an easy joint venture partner once we begin to establish ourselves as a key player in building the wechat ecosystems in Myanmar. Would like some more detail around the agreement and what the share were issued for, I'm guessing for consultancy services relating to how we begin to build that level of integration?

It's ok kiwi, we ain't fulfilling their last wishes, nobody is being flown to bora bora or getting to meet whoever the Myanmar equivalent or Danny o'donnell, they're getting a basket with some fruit and biscuits, you might get £100 back if your lucky! :-)