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Is the price the existing shareholders are being offered shares at as part of the fundraiser not $0.15aus.... "NWF has also announced the closing of the NWF Rights Issue to raise a further A$30 million through the issue of 200,231,668 NWF Rights Issue Shares at A$0.15 per share." If we fall to around this price then there is little margin on current STEL share price. Hardy78, you have failed to take in to account in your calculation that we will only be getting 0.7622 of a Newfield share for each STEL share we have, therefore, if Newfield price was at 17.29c then that would equate to as price per STEL share of around 7.4p. I had freed up some cash this morning and was ready to buy before running back through the detail. At current prices I'm not sure it's worth it.

Just wondering why I can't seem to find an up-to-date share price. Was wondering if trading has been suspended while they deal with the fundraising etc?

Is trading on newfield suspended at the moment? When I search for the current share price I seem to get it as at 6th April.

Wasn't really directed at you, there are plenty of peep having a go on a daily basis.

Struggle to understand the Eric haters, it's like you think he is hell bent on ending the company... Or he somehow stands to benefit from it performing poorly?! This is not a typical company operating in an established country. The market isn't clear and obvious as it isn't well established, therefore there is a certain degree of trial and error required in order to clearly identify and then monetise the market. As a result we are making adjustments to our strategy as we go, and yes, unfortunately this will result in us on occasion spending money and time in areas which bear no fruit, the important thing is to recognise this and change the strategy accordingly. The doubters perceive this as a weakness or poor leadership which is not the case. He's not about to lay out a 5 year plan for us all, or even a 1 year plan, he's highlighted the areas of immediate focus and will assess and react as progress is made. I ain't saying he's making perfect decisions all the way here. The operational break even was an bit of a mess, but was it not done to release us from an unfavourable finance agreement? However, I think that decision has really backfire and I can understand why. The incorrect financial reporting was another issue, and the man responsible for that has today been sent marching, which is the correct response, but given he's been there since the start it would have been a very tricky job to move him on. And yes Eric should have been double checking the figures before they went out, true. My point is, he's the CEO of a tech company in a country which didn't have tech only a few years ago, it has to be one of the fastest moving environments out there. He'll make mistakes and make changes along the way but it doesn't mean he should be ridiculed by shareholders. More patience is required.

Notice volume has jumped to 12m so another biggy out there.

I've watched the number of new Facebook followers increase from around 800 per day a month ago, to now almost 2000 per day. These guys know exactly what they are doing, they have adapted their strategy to ensure they supply the market with what they want. I see that advertising will be a large part of revenue going forward, especially once the new marketing director joins within the next 3 months. onwards and upwards!

Saw this via twitter, another who is potentially involved in the discussions, there are plenty out there. https://www.dealstreetasia.com/stories/umj-ikeya-investment-scouts-for-scalable-startups-plans-for-add-on-investments-95279/

Seems like the big buyer from a few months back was probably Atlas who have over the past month been selling their shares to drop the price to current levels which is a very nice price for them to convert at. But Atlas will run out of shares to sell soon enough, at which point we will see the positive momentum build again. Once they have converted they will be on the side of the shareholders and will benefit from the share price rising. The current price has been manipulated and is not a fair reflection of the companies worth. So, imo although it's disheartening to see the share price where it is, it would be foolish to sell now.

Fear I guess... The biscuit boy's tactics will work on some.

Our boy Jeremy was the biscuit holder :-) sounds to me like he's still holding a biscuit for Tom!

Having had another look through the rns looking specifically at the finances, I think that although at first glance the headline figures don't seem great, there is a lot to be optimistic about here. Revenue of $917,180 for first half of the financial year against costs of $2,766,261. The rns stated that there will be a 25% reduction in staff costs from April as well as savings from reduced hosting costs etc... I think a conservative estimate would be to say this will result in a 20% reduction of the administration costs of $1,895,599. That would mean that going forward administration costs would be roughly $1,516,500 a reduction of $379,000. Assuming there are no other reductions, the new 6 monthly costs would be $2,387,000. As new funding was secured as of early Mar we can assume that any burn against the �2.11m (or circa $3m for consistency) would begin in March at the earliest. Also if we consider the availability of the $1m rising dragon loan facility, we have around $4m available. So my point being that even if we continue to run flat with current revenue and expenditure (taking into account the reductions in resource and hosting costs) it would be around 17 months before we would require any additional funding - around August 2019. I can't see for a minute that over the next 17 months we won't have significantly increased our revenue, especially when you consider that the current revenue figures don't include any 3rd party work and likely include relatively low revenue from advertising as we are really yet to get going on this. I see advertising as being a key revenue stream going forward and have watched Mingalarbar Morning gain 17k new followers on Facebook in the past 10 days, which of course only represents a proportion of new users. The new branding and change of focus for Mingalarbar Morning and Mychat make complete sense in order to allow a focus on increasing advertising revenue and with the new Marketing Director scheduled to join in the next 3 months I can only see that there will be significant increases in advertising revenue going forward. Plus considering the agreement with Rightyoo will begin to bear fruit over this time period. Even if revenue was only to continue to increase at the same rate as over the past year (170% / year - 240% over the 17 months) we would be at a 6 monthly profit figure of $3,117,800 in 17 months time. Well in profit and just at the very start of the potential offered by this company in one of the fastest growing economies. I'll be cracking the wallet open if peeps be selling tomorrow.

When you are responsible for 3 postings in a row and 7 out of the past 11 postings at one point, you know you are loosing the plot! The issue is you are trying to win an argument, convince us all you are right, when for the rest of us it isn't an argument, we're just exchanging our thoughts and opinions. You only have to look at the volume of posts you make to see that the frustration of not winning your argument is really getting to you. Anyway that's just my opinion :-)

The results here aren't the leap forward we all were hoping for but I believe the takeover is still firmly on the card although again not at the level we were hoping for. I suspect a company has made an approach and can see that currently we are struggling to monetise the users and are burning too much cash, however with 20+ million users we still have value. I expect their valuation was completely out of alignment with shareholders expectations and also the 21p target, however Eric and the rest are well aware of the reality and know that the valuation is accurate. Therefore we are in the process of having our expectation realigned. The £2.11m from Atlas is to allow time for shareholders expectations to be realigned to the point where an offer of say 4-5p looks good and is accepted. The rns has a degree of honesty and transparency which hasn't been seen before, no attempts to make it look all rosie. Let's be honest in Jan we would have laughed away an offer in the region of 4-5p... who would take that now? And in 2-3 months time it might feel like a god send! Anyway, that's my thoughts, anyone agree or disagree?