Member Info for DavidGreece

Electric Jukebox backed by Nigel Wray & Cheryl Crow - sorry BB I am going to pass By Tom Winnifrith | Monday 7 November 2016 Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from *************). I have no business relationship with any company whose stock is mentioned in this article. The Sunday Times front page splashed with news of a forthcoming AIM IPO in the music streaming world, Electric Jukebox. It is an easy splash in that my pal Nigel Wray, Britain's Buffett, is an investor and the company has celebrity "investors" lead by Cheryl Crow whose face beams out of the paper. Chris Akers vehicle Yolo (YOLO) has today raised £2.5 million and is investing £1.4 million in EJ so maybe that is the IPO the paper refers to. But for me this is a big miss and here's why. Firstly I really just do not understand this at all. I am an old fart who buys CDs. I do not understand streaming and how this industry will evolve. Maybe that is because i am too old or stupid but I just have to pass. I note that today's announcement talks of an imminent UK launch. But as you will see in the trade press below this actually launched a year ago. Something does not seem right at all. Secondly I have taken the trouble to look at the accounts of this company which is actually called Magic Media Works Limited. I see that at the end of 2015 net assets were MINUS £488,925 and that losses that year were £2,339,221 up from £1.223,037 in 2014, its year of incorporation. As a value investor that just does not look very attractive to me. Thirdly I note that the Sunday Times says that this company has celebrity "investors" Ms Crow, Stephen Fry and Robbie Williams. I note all three are also brand ambassadors as was Gary Lineker for Ingenie part of the Quindell fraud. Jug Ears got free shares for giving credibility to the fraud. How much did Sheryl, Stephen and Robbie pay in hard cash for their shares? Or did they get them for endorsing this product? And fourthly, I move over to the specialist trade press for its take and that is to say musicbusinessworldwide.com and an article fron October 16 last year. It flags up a number of points of concern including: a business model with an uncompetitive pricing structure and the track record of the CEO in launching companies which look identical and which all seem to have failed. I quote: NO, ELECTRIC JUKEBOX ISN’T A JOKE. BUT IT PROBABLY SHOULD BE. If you’re being charitable, it looks like the BFG’s lipstick. If you’re being juvenile, it looks like a three-speed Ann Summers special. If you’re being sensible, it looks like the most ridiculous digital music launch in history. You can read the full article HERE I may be a boring old fart missin

Links to WRN Worthington too.

http://musically.com/2016/07/12/omnifone-business-and-assets-to-be-sold-for-10m-to-us-firm/ Rob Lewis, now tell me you don't see the comparables to EJ and the debts building. All they're doing is keeping the lights on using YOLOs and it's shs cash. Wake up.

You see it as messing around with people's investments, I see it as a contrarian view which if you'd listened at the peak you wouldn't be sat on a loss. It's about taking all view points especially when they're supported with FACTS. The history of the co creator of EJ and magic media should scream alarm bells to anyone. You've just thrown cash down the drain in terms of that investment, no doubt about it. It was a failure for two head for a reason. MM were insolvent prior to this for a reason. His other companies have failed for a reason with various charges in place. Tell me what YOLO has that's currently worth investing in in comparison to the MCAP? What inbred relationships do the entities have? I am astounded as an "investor" you wouldn't buy this yourself and are unable to intelligently discuss the points raised yet feel it appropriate to let other PIs get suckered in so you can profit? Give over.

It's not sold out. It's available at Argos On Radio times. QVC only had limited stock because I suspect even they couldn't see it selling and really 800 units on QVC on easy payments is shocking. It's available on the EJ website. It's reduced in most places. So let's have some balance re being sold out.

Erm I have no idea who foxcraxy is firstly. Secondly I've supported by view points Thirdly how do you think it got to 1.5 and back under 1p - this was your pump followed by the dump as these very folks were forward selling. Please don't drag me into personal arguments and make suggestions I work in any sort of "gang" I say it as it is. Simple.

How much is this "star" campaign costing? That cash is running thin 🙈

As you well know that's a rollover with the BCs attached. 🙄

Seems the selling suggest others have found my posts insightful into the reality. I post all the financial woes yesterday and links. Worth looking at before anyone invests here.

I like to share my opinion. Thanks for the invite to leave though.

Good thing QVC offer an extended returns policy till late Jan I suspect many will return the piece of rubbish. How many old folks have a HDMI slot anyway? Bit of a contradiction in terms of target market. No wonder it's failed for two years and critics are laughing at it as some sort of joke.

How much are marketing costs? What liabilities did magic media have before the cash injection? How many charges has the founder got against him for failed businesses? What's 43% of FA? Write the investment in them off, insolvent by next year I suspect (magic media) Anyone investing here needs to do their research. Simply being pumped for placees to clear.

If you're excited over 800 units given the margins and your percentage of it than I'm speechless. I don't think said poster is trolling merely an opinion. Your focus here should most definitely not be a crap electric jukebox that has failed for two years and has little interest and is owned by a company who's founder has an appalling insolvency rate and is wasting more cash on marketing than is incoming at this stage. Electric jukebox will be over once the pumpers are done using it. Focus on your other plays, again not much faith in those either. One of them is nothing but an inbred cash cow. Get over 1s those very folks will be rushing to the exit. By any accounts this is a strong sell.

QVC also have a no quibble return policy extended for Xmas, so nothing's in the back yet.

https://beta.companieshouse.gov.uk/company/05333009/insolvency Look through every company he's run, all have charges or a debenture against them. You're just another wad of cash he'll be using to pay off liabilities before closing the doors on Magic media. Enjoy.

You own 43% of something that was insolvent before the cash injection? A product that has failed for over two years and a director that has an appealing history or going into liquidation and many charges against his companies? https://s3-eu-west-1.amazonaws.com/document-api-images-prod/docs/Rfpu63EAfzxmX6X4jr6GICfOrQTn1ES8y0VN8Q2YsPE/application-pdf?AWSAccessKeyId=ASIAJVHQJCHZFJDPA3PQ&Expires=1481069771&Signature=yJAL1UvvPZziw3J6Hn7eY8vKF9I%3D&x-amz-security-token=FQoDYXdzEPn%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEaDONPlPgB06P4IUmwuSKcAx7McyfmEpj9%2FCUdVIVj8b%2BjehpwPbtOejSXdfo%2BK6NUEB7sBD7zSnv0gGU%2BnI4HMcX8ojQ5wsfGPoOo%2BND2BzdcyG4pDXb0NRJEYkPvOm7G2qrztI3VN6Lr68LNTUl73ZZqsycTmGDNamM6mLKVv3u2I8zmtPRDOf0MJi52GkuI6zZ8N60LUexBNNmJbLA5wHR9ZLCjLZ****loLjcq4Wrqz5RhTqQLzvue6DsPBsOYs8pAzaGASV0ZJfxizv4B5qQMDl6%2Ft%2BRxwzcbYOWlFhnv6Xqma9%2Bi0bD%2FJcMisR0pqhd66KkZjpPhBbHtIS07TUR4sf37BFrCCU9uyHzCi16hyiKwoIE3xmgVKmmY9h9%2F0Tg2kIfaxp5QmVKzruSUbZMg9AHFJ8Q1tXqzP4JqhkGWPBm%2BouZWSQwgm0kEqQkVEulZIZScRc6dOk3p0izjMdXoMY8ZA66Y6ANfce%2FUPGPNf7BxcIioJMOceMHhRcdIWe0LmdemNT%2B1JV4dvka29x%2FRrxMzE3qPwuHjxVzXd1Dq8PcWFnNlBjwNH10ogZKdwgU%3D https://beta.companieshouse.gov.uk/officers/PyDbi0VmsL6HFEfIuxtpFJ9biFQ/appointments Not something I'd be shouting about to be honest.

Strategic investment out

1.22 paid and eating up the sells, confirms we are clear for now. Bit of volume and they'll give her a run. 👌

Just a quick small swing trade mate, been in and out playing the range in between conversions. Seems to have stopped hence wanting full on small volume. See how she goes

Seems clear ATM asking full so could move nicely here