Member Info for Djp57

They won't be amazing. They will be what they are, nothing more.

The reason there is a communication lockdown is that results are coming out within a week. You never, ever get anything out of a company prior to results. Judge NAPS after that, LESS THAN a week to go.

Brokers often get the data from an industry data provider. It may not be correct, so don't be disappointed if there isn't a result RNS at 7am tomorrow.

Last year, the FY accounts were presented on 30th, and it's most likely we see the same this year. Definitely news out on or before 30th. Also the rest of the CLNs will be converted at or before then too.

Low volume day.

Agree Baker. Its a large canoe we paddle in....

Robi,
Just when you're at the point of giving up, is the time you should be doing the opposite, in my experience...

Good morning All, just been playing with some numbers - consider this:
Since the CLN funding announcement 8 Feb the market Cap of Napster has fallen by ~36% (using an average the week before as share price was run up Into the announcement). There has been ~203m new shares issued so far, an increase in share count by ~8%. So with the CLNs issued to date, there has been a 4 and a half times negative effect on the share price. Even allowing for the remaining CLNs to be converted, the number of shares will increase by ~12%.
Now, ask yourself this:  is NAPS today better off, or worse off than it was on 8th Feb? I would argue better as we are closer to something happening, within a week or 10 days of the next accounts, another management update, and within a few months of the new App coming.
Its currently the wrong price. As I said, just playing with numbers. 

Decent size through yesterday at 4pm...

Best timing for a face off with management is post results. Perhaps if enough LTHs put pressure on company directly, and to the IR crowd, we may be able to get a socially distanced meeting with AM. At worst via Zoom. It is normal for companies to speak with large holders post results, and why not a properly put together group of LTHs?

Any thoughts?

Count me in. See my previous posts for LTH thoughts

HorseG,
All companies at this stage of corporate life burn cash. Some for longer. AM may be a dreamer and have big expectations but that's why some more serious folk and financial experience have been introduced. If there is anything wrong in this situation it's the glass half full brigade (me included), that have high expectations and want it all now. Big fortunes are never made overnight, or even a couple of years. The learning curve is painful for everyone. Reputations are also damaged when targets or promises aren't met - and that can sometimes be more painful.
The constructive disbelievers here sometimes play a useful role in keeping the expectations realistic. Perhaps it takes longer. Perhaps lessons are learnt. Perhaps the road isn't straight. The road to great companies is a long and winding one...
So, let's see what the accounts tell us, let's see what developments have been made, and what the next targets are. Everyone has the choice to be in, or out.

Agree Croydon, good point. As I said last week, if you think N&G will end up making a serious amount here, add to positions when they do. I bet that no other shareholder knows as much about what is really going on at NAPS as they do. Just my opinion.

Interesting points on the CLN decision process Italian, however I doubt it would have been solely CEO decision. Finance Director Botha, and NED Dollens, as an experienced finance guy and large shareholder surely must have been involved in the decision - at worst consulted/sounded out.
The CLNs have clearly turned out to be a disaster for dilution and share price, but at the time I wonder what alternatives there were. Banks would be ruthless on wanting security and charging, at this stage of a company's life I expect its the innovative financing that is more likely to win the day. When ever I met Matchett (pre Covid AGMs) he was clear that he was very reluctant to go down the debt route.
As a LTH, I suffer, but CEO and everyone else in the top 10 or 20 holders have lost out more, on share price and dilution.
The only saving grace, is that I expect payback to be in £'000's of %, so although a 20% or 30% dilution is tough, but its not the end of the world.
Having been on the wrong end of banking deals, when you are forced to make bad decisions at the beholding of banks who only care for payback, and tough luck for equity holders no matter what, is no fun. I've observed what can go wrong, delays, etc. When it happens, it's not good. So, I'm happy to go with dilution.
Just my opinion, I have no insight other than what I read and observe in the public domain.
Good night all.

If you believe N&G will make serious money out of Napster, then buy when they do. OK, N&G have a nice kicker on entry with a slight discount, but they are providing capital, at cheaper than alternative financing. So, follow the money.
If, as Mel suggests N&G could be the catalyst introducing other interests, there's a very interesting play to be part of. Clearly from today's Sonos announcement there are deals going on, perhaps more in the pipeline. CY20 Result by month end should give some indication of the numbers achieved attracting users to the "Live in LA", Brixton O2 concerts, the Liam Gallagher Thames concert, and other gigs 2H last year. Progress on the App... etc. As the announcement today reminded us, with the Napster acquisition, the company now has, in addition to its catalogue of VR recordings, 3 million users worldwide and 90 million licensed tracks in its catalogue...
If ~£500m revenue is achievable in two years, either the market cap £60m, or that revenue number is wrong...
One day we will all look back and wonder why we didn't own more at 2p or below...

In the last 48 hours... its quiet... too quiet...

Thanks KL, yes, it would be rude not to, and I have done so too recently. Regards.

KL... have you bought more since?

Good to see a pickup in number of trades and daily volumes...

Agree with you Mooney about preferring full conversion before end ofJune. It would give me confidence that the share price had bottomed, and better operating metrics are coming. There is plenty discounted in the current price, IMO.

Presumably N&G have a regular dialogue with NAPS and would have some comfort on operating metrics. 

Of course it doesn't rule out the need for additional capital into the 2H21 for further App development. 

However if there is a decent pick up in revenue, and cash flow, it may reduce the immediate need for additional funding. Or is that too glasshalf full?