Member Info for bunco

I can see a scenario where news doesn't arrive till October. There has been a lot of chat on here about news arriving in Sept, if it doesn't there will be PIs who feel they have waited too long and jump ship, meaning cheap shares on the market which is exactly what mm are looking for. I'm pretty sure we're being played as there has been plenty of positioning taking place in the past 6-8 months, lots going on behind the scenes and the share price has been driven down. But for those in the know to make a profit the share price will have to rise again, so provided we hang tough we can cash in when the big fish do... For us PIs it sure is a long and boring wait. I'm sure the big fish ain't checking the share price daily :-)

Seems to be popular, video on the Facebook has 125k views after only being up for 4 days (if it keeps going at this rate it will be the new despacito by Christmas!) and new video put up only 8hrs ago has 22.5k views, so plenty of people using the Facebook and I assume greater numbers on the actual game.

Hard to determine if the 1.5m trade just before the bell is a buy or sell? Probably is actually a sell as almost all other buys are above that price... Either way, it's brought a bit of volume back and allowed some buys to go through... Hopefully the volume keeps picking up.

I also think the benefit of remaining with okdollar after the licence is their extensive network or agents allowing people to get money in and out of their mysquar wallets easily and conveniently.

My understanding is that the end of September full launch is for the remittance service only, which doesn't require the licence. The licence will allow us to have our own payments wallet.

Hi invest, yeah that is what I don't really get to be honest. It's obvious that MPM didn't ever have the cash required to secure the licence and I'm sure that saying we're going to be taken over and our new owner will bring the cash would never have washed. Only thing I can think of is that they tried to secure the licence using a loan note to cover the security required by the central bank and they were told no chance, you need cash to be held in a separate account to secure the licence.

Quote from the rns of 20th June regarding the acquisition of MPM. 'MPM has applied to the Central Bank of Myanmar for a payments licence.' This wording suggests the application had been submitted as of 20th June. By my calculations we are now beyond 90 days from 20th June. My understanding is that the central bank will attempt to assess applications and respond within 90 days... So what's happening? Seems odd that MPM made the application before we took them over as we know they wouldn't have had the required funding in place to support the application, it was only after mysquar completed the second fundraise that we had the funding to support the application. On this basis I suspect we've had to redo the application since the acquisition, but even with that as the case we should still be expecting news very soon.

Yeah, this is chronic! Can there really be as little going on here as the new would suggest. My understanding is we have well over 100 employees and in the last 6 months we've released a game (or 2 if you include wushu king in March), been running a news aggregator and maintain a handful of other games... If that's the sum total of 100+ peoples effort for 6 months then there must be a hell of a queue each day for the pool table and free donuts in the canteen! Or, there are a number of addition developments ready to drop... I hope it's the later!

The 5k sells continue... Is that still you Acek? You sure had a few shares... And may still have I guess... Many more to go? :-)

Has been quiet lately, so I'll have a ramble. Looking at the pieces of the puzzle, I think if we secure the licence from the central bank we will be on for a JV to build the mysquar payments wallet for use within Myanmar. They have stated that part of the reason for the buy out of mypay was to open up the opportunity for a JV. At the start of the year when the focus was on Tencent they did mention they were in talks with other regional players. My feeling is that at this point a roadmap was agree between mysquar and another Co. as to what had to be done to allow the companies to come together in a JV. Since then we have secured a significant amount of funding and used it to buy out mypay (as above, to allow the JV to happen) and (hopefully) secure a licence from the central bank. 3 key steps which will place us in a great position (with our significant number of registered users) to capture a huge part of the rapidly expanding ewallet market, which all reports seem to suggest is where Myanmar is heading, directly from cash base, leapfrogging the traditional high street banking sector in the process. If this is the case, I'll be excited to see who the JV partner is and what they will bring to the table, as we're bringing an awful lot! If this does happen I can see us back between 5p- 8p depending on who the JV partner is. Speculation of course, all just my thoughts. But suppose we've been down for a while and some people are doubting why we're all holding on, so just giving part of my reasoning. On another quick point I expect revenue for the second half to be decent, new games like fishhunter 3D and wushu king have been well received - as has age of glory but this was released in first half of 18/19. The older games, myfish and lucky wingabar are going strong, plus any money from mingalarbar ads and marketplace, and the sticker selection will help.

Yeah, I agree with your thinking. We now have 2 new games live since last update (age of glory and wushu king) which seem to have been well received. In addition, lucky wingabar and my fish have been building their download numbers and followers well over the past 12 months. Also we had my fish 3D launched in Nov 2017, which has performed well over the last 6months too, from a downloads and followers perspective. Then we move on to MingalarbarMorning, which certainly seems popular and has established a few income streams through the marketplace and ads - although I don't expect much from these at this stage. There is a wide selection of stickers available too although not sure how popular these are. If there has been a degree of success with the cost cutting then I agree break even may not be far off. Leaving us well placed to make some good profits as the payments platform is developed over the coming months.

This gold share must be a cracker! Same sell as Acek's yesterday.

Agree kiwi, hope ain't a strategy at all, but in the absence of information hope is all we have at the moment. However, we know that the full year accounts are due end of this month along with an update on the progress to end of year (end of June) and no doubt some update on what has happened between end of June and now. I'm hopeful that the lowest point for the share price is just before info released, hence today's buy, but that obviously assumes the news will be positive in some way.

The large one, assume the others are sells.

Put some more money in this morning. I've got a significant amount of cash invested here and at these rates I figure it won't be this last few grand I put in that will be my regret if this goes ***s up, it will be all the money invested around the 2p mark. However, if things pick up, today's investment will bring very good returns. Other thoughts are, that with circa £3m aside for the licence security then really how much lower can the shareprice go for a company with a huge number of registered users, which currently has a number of active revenue streams and is developing more. I expect that even if it is proven in the coming year or so that Eric and Co have made a hash of this, then I think that what we have developed so far would still easily have a takeover value above our current market cap. To be honest it was painful to press the buy button given how the shareprice has performed lately, but I'm hoping it proves to be a good decision.

I think it's a smart move to target inbound remittance, if we can buzz round and get agreements in place to provide an easy and cheap service for people to transfer their cash back to Myanmar, from the main countries where people work outside of Myanmar, then we have placed ourselves well to compliment, the likes of momo or any other virtual wallet/payment provider who wants to establish themselves as the big dog in town!

Notice the price on your post goldminer has jumped to 1.23..odd

When we look at how Atlas converted the original fundraise in March, I'm guessing they made 20-30%. If that is all they are after and they aren't interested in holding for the longer term then it wouldn't matter to Atlas how many shares they get as long as they get their 20-30% profit. With that in mind, it may be the case that there is an agreement for Atlas not to convert until we are back over 2p or 3p+ to avoid unnecessary dilution. Why would Atlas be motivated to do this? My answer would be to build their reputation as a finance provider who isn't focused on rinsing a company and leaving it in a worse position after their involvement than they were before. Bear in mind that the drop to the current share price came after the announcement of the second fundraise and wasn't brought about by the initial conversion. So my point is that if Atlas are a decent bunch (and I think their approach to the initial fundraise would support that) then it doesn't matter to them what price they convert at as long as they get their 20%-30% profit. To that end, they can build themselves a good reputation by preventing unnecessary share price dilution... Just a thought as to why the recent silence on the Atlas front. Also worth noting they have a little sweetener with the recent warrants being set at 1.8ish... My view would be this is their reward for comply with our strategy.

Hi invest, I hear you, when you put 6bn kyat in to an exchange website it comes out at roughly $4mn, which is strange as the kyat has weakened since June. I'm hoping the $2.2mn is right, however, would be good to see somewhere what the actual rules are around the application to the central bank. As I understand we should still have plenty of cash from the first fundraising in March as that was mainly to complete the purchase of mypay, however, we issued roughly £1mn worth of shares and also had $822,000 already held on deposit as a 31st December for such an acquisition. Meaning only £381,000 of the £2.11m raised was required for the acquisition. "As noted in the Company's interim results announced on 29 March 2018, USD 822,000 (approximately GBP 619,000) of the cash consideration was already held on deposit with an adviser with the balance of approximately GBP 381,000 due to be paid from the Company's existing cash resources." As such, the entire £2.2mn of the second fundraise and some of the first fundraise £0.8m would be require to meet the requirement of the central bank if the figure is indeed 6bn kyat ($4mn or £3mn). By my calculations that would still leave us with around £1mn from the initial fundraising to support development of the payments platform etc.. Also worth noting (and previously highlighted on this forum) that the 6bn kyat is not the cost of the licence, just the sum we are required to have available (probably held separately) as a security. It's an important point (that we have £3m in cash) when considering what is a reasonable market cap for the company.

https://m.facebook.com/MingalarbarMorning/ Scroll down to 2hrs ago.