Member Info for bunco

Hi Jez, I disagree, the party building a stake will want this vote to pass for sure, to prevent it would stop the flow of super discounted shares flowing their way via Atlas. There may be an element of dilution involved for them but that would be a small price to pay and certainly hasn't stopped them buying in chunks since Atlas first started passing them shares. So all this vote does for them is allow the flow to continue rather than stopping it dead. If the vote was no, we couldn't honor our agreement with atlas which would be catastrophic for all, as we would have to buy back the bonds meaning we wouldn't then have the capital available to secure the payments licence. That aside, if the vote was no and the bulk buyer wanted to continue to build their stake, they would have to start buying existing shares which would mean taking them from holders therefore the price would rise, which they wouldn't ether... But I doubt very much they would want to continue to build their stake without a payments licence, more likely they would want to offload and we know what that would mean for the share price. I get the frustration everyone is feeling, but to vote no is senseless.

It's obviously Atlas selling, no doubt at price they have pre-agreed with their buyer. Atlas are happily making their 20%+. I'm sure there will probably be the odd traders in there too who bought back at 1.08p.

Hi invest, yeah hedgecutter is right, rising dragon own a stake in fastacash, mypay and mysquar. My understanding is that fastacash and mypay were/are private companies so not clear how much rising dragon own, but they are all being folded into one company in mysquar and the stake owned by Mr. S. Kumizawa (the man behind rising dragon) is... Well rising! Not sure of all the details as I say, but it certainly looks to me like Mr. S. Kumizawa could be the one who is the stake builder. I believe that rising dragon owned about 40 odd percent when mysquar was initially floated, that went to about 12% I think through dilution over past few years. Now the ducks are in line I think he wants his 40% back on the cheap before take off. A theory is all this is... But I'm just trying to identify who stands to benefit from the events of the 6months with the share price being allowed to drop down to these levels and Mr. S. Kumizawa is emerging as the most likely candidate in my eyes. I understand that the Atlas funding has been necessary to get the payments platform launched and that this is a game changer with huge long term benefits, but it does feel like it has been very well orchestrated.

Mr. S. Kumizawa, seems to be the man behind rising dragon (given the last note which states that the shares owned by rising dragon make up part of Mr. S. Kumizawa's 12. 3% stake. Am I correct in saying if he is the man behind rising dragon then he is also the man who will effectively have ownership of the 8.38% if the company now owned by mypay? I think this is true, convenient the mypay tr1 came after the shareholder analysis, as otherwise it would show that Mr. S. Kumizawa actually has 20.68%. So my theory is that Mr. S. Kumizawa is building his share either for a complete take over or just to get a very significant chunk of the pie. Who would know better the true worth of this company? Not only does he own a significant stake already but he has put in place his own man as ceo in eric. It makes perfect sense in terms of why the company would seems happy to offer large volumes of shares to the market at ultra low prices, also they have created enough doubt and provide very little comms to stop the market dictating a much higher share price for the converted shares. I think old Mr. S. Kumizawa may be playing a blinder at the moment!

Ohh... I and final point is that we won't be able to provide Atlas with share to honor current agreement if we vote no, which will mean we don't have the capital available to get the payments licence. So I can't see how I no vote would make any sense at all.

Doubt our options will matter at all, but for what it's worth I agree with mcsquares. This is just a necessary part of a business at our stage. I think we can all agree that we are still a business which is in a growth and development phase, we can't do either without funding, obviously the sooner we are at break-even and then profit the better, as this will reduce/remove the need for further funding, but we ain't there yet. Put it this way, if Zuckerberg didn't offer up 80% of his own company to get it to were it is, firstly he wouldn't be a multi-billionaire and secondly he'd still be sitting in a dorm somewhere telling people about how he owns 100% of a company called Facebook which will change the world... If people would just start using his app! :-) we can't expect Eric and the bod to provide details of their next acquisition or their next area of development at this stage either, I know that the lack of detail is frustrating, but it's to be expected from a company at this stage of development.

We've seen this pattern a good few times before since the bonds were issued to Atlas, remember we still have 2m pounds worth to get through, until that happens I can't see us going above 1.7p. However, if Atlas agree to off load in a block to another party then we could be ready for lift off anytime...

It's an odd scenario really. Clearly something going on behind the scenes. The last few rns are clearly written not to inform the common shareholder but to communicate a specific message to one or two significant holders who will know exactly what big eck and the bod mean. The rns of late mean virtually nothing to us as we only have half the info. The fact Atlas are clearly not selling on their shares from the recent 200k bond conversion I think must also be tied into whatever discussions are happening in the background. If a company bought all of imperium's shares and also all the Atlas shares for both rounds of funding I reckon they would be over 40%. I hope the cryptic rns have worked and they are working towards a joint venture or takeover.

Imperium that was the equity firm... Until the last update on significant shareholders they were the largest holder with 12%...how can they now appear to hold at least less than 3% without letting us know with a tr1?

There was an equity firm that used to own I think around 12% (or was it more?) where have they gone? I don't feel like we have seen enough action for then to have sold all their holding at the same time as Atlas disposing of their bonds.

Yeah completely agree A1 that is my understanding also. Go to the London stock exchange website and look at the trades and there is not indication as to whether its a buy or sell just the price. It is only the site you are using to look at trades which is assessing whether it was likely a buy or a sell. On a share like mysq where the price moves fairly significantly based on small value trades and with worked trades going on too, it means that the algorithm the website has for assessing buys and sells is easily caught out.

Looks like launch is 24th July... https://m.facebook.com/AgeofGloryMM/?ref=page_internal&mt_nav=1

Just wondering if the meeting resolution seeking authority to issue more shares is as a result of Atlas having requested to convert all the outstanding bond at once? If they did that, then I guess the bod would have had to say to Atlas that they can't currently do that as they can't issue enough new shares. By stating that the remittance service will be up and running by end July they are forcing the large shareholder to move quickly, as any announcement about this being live should cause the share price to shoot up. I have a feeling this could play out quite quickly over the next month or so.... The captain has put the fasten seat belt sign on, please remain in you seats during take off!

Haha seemed a bit like that to me too.... Less bottle more biscuits Jez! ;-)

Just over 4p would be a 100% profit for me, but no, not why I am invested. Remember the highest price of the past year is just the minimum they can offer, they have to be mindful of the value of the company as well as the potential when tabling an offer, 10p min for me and I think that would be a steel! And before someone says that the current value of the company is around 10m... Well that might be true with all the shares sitting where they are currently, but it's certainly not true if one person (or entity) wants to acquire all the shares, in this scenario the value of the company would be significantly more.

Gad (and Chris for that matter) - the one who has the last laugh will be the one who laughs hardest, have your jibes just now, enjoy your time, but in the end we'll all be laughing at you as we look at the cash we have made. You see, if we are right we all become rich, if you are right what happened? You get to say I told you so? I'm guessing that speaks volumes about the type of people you are!

It's how the investment journey with MYSQ ends for each of us that is important not the bumps along the way... and before you make some cheap and predictable comment about the end being imminent please done bother.

True, so you are suggesting this is to force their hand? Fair enough point. Not sure that they will reveal themselves before they hoover up the remaining Atlas shares though.

The owner of the 122m share has had their voting rights revoked, so they won't have a say in whether this vote is passed or not.

Yeah, you're right Bezzy. Given where the share price is at, the bod need authority to be able to issue enough shares to allow Atlas to convert all their current bonds. Given since march, there have been about 230m (roughly I think) shares issued again a starting point of 615m, the bod need us to agree for them to go beyond the 307m limit (i.e. 50% of shares in issue in March when initial bonds issued). That is my understanding anyway. Not sure about the approach of diluting the mystery shareholders % by issuing more shares, this only lowers the share price but doesn't generally effect the value of the company, which is what any potential buyer would be more interested in. Suppose it stops them getting to the 35% or whatever, where they are obliged to make an offer for remaining shares?! If Eric genuinely wants to maintain control of the company I think issuing more shares is a bad move, in my opinion this is only gonna make any potential buyer think, let's stop messaging around here and cause them to step forward with an offer, and sooner rather than later.

Well if you think it's improbable then best not invest. From what I can see and the information available I think 10p within 12months is likely. There are lots of developments at the moment which aren't having a positive impact on the share price, but which are essential to allow this company to develop and expand rapidly in line with it's consumers desires and expectations. Which is why I'm happy to wait 12 months to see this company begin to realise its potential... And for the shareholders to realise some hefty profits!