Member Info for Dr_Kaboom

Guess FinCrap and Belvedere are next candidates to be booted out. Never quite understood why they needed a PR company. Guess it made Toby and co feel important.

They are allowed to buy up to 4.64 today.
If we close at 4.6p again, they will be able to buy up to 4.81p (the 3.8p close from last week will no longer be part of the 5 day average).

Part 2:

I have no further ties with the company but Toby and Michael are both competent and have steered the company away from the rocks into safer waters. I have found Guy Elliot and Henry Turcan to both be very insightful and have a lot of confidence in them.

It was a calculated gamble for the ICM vendors to take the stock element with MMX vs a straight cash deal as offered elsewhere and we did so on the basis that we thought management could turn the business around within a couple of years and sell for a premium.

I think it’s fair to say management delivered on the former and Covid-19 took away the chance of the latter any time soon.

I will still be looking in on the Board and more than happy to answer any and all questions relating to the company and/or the sector.

Sincerely, All my best to each and all of you.. Keep well and safe…. SJL

All,
You will see from the share trades and TR-1 I sent in a moment ago that I am ALL out of MMX now.
I wanted to post here some words to explain the rationale behind my decision to sell and also my thoughts on the company and the sector for what they may be worth now.
Firstly, I would like to state categorically that the decision to sell was formulated and executed over just a few days this week and that I am truly pleased that I was able in short order to execute unplanned sales via the open market, I’m sure channeled by FinnCap for 10% of the companies issued stock at effectively the regular, published bid price. That level of liquidity should give everyone comfort.
I may have mentioned in one of my prev posts here earlier this year, that having merged my private Age Verification business into an FCA regulated business I had also been forecasting a major price correction in the general public markets for some time and viewed them as overheated and pulled some $50 million USD out of stocks in the December/January period straddling the end of the US tax year. I announced that MMX was my only remaining public holding and I was continuing to hold them in expectation of good FY 2019 figures and announcements and a suitable uplift in SP at results time to hopefully be followed by a premium exit in 2020 to one of the several candidates discussed here ad nauseum.
The SP rose to some 8.4p late Feb early march in anticipation and then just got washed away down to 5p in the meltdown before stabilizing back a just over 6p.
I fully expect the wider market to take a substantial fall again from its current levels as I don’t think the wider index levels are justified from prospective earnings, both US and UK. IMHO, as has been shown already MMX will most likely suffer with a commensurate fall should the wider market fall.
I think we will be in a longer period of suppressed valuations and quite a long recovery period, especially for those companies waiting for a premium exit.
I just simply decided on Wednesday to take my cards off the table at 6p and add another $7MM to my cash reserves. Nothing has changed with MMX and its trading prospects to my knowledge and I believe it to be a solid, relatively recession proof business with low cost renewable recurring revenues that will likely continue.
I just no longer feel that there is a likelihood of a premium exit in 2020 given all that has happened these last 6-7 weeks and its effect on the wider global economy. I would sooner be in cash right now and as of today I no longer hold a single publicly traded stock. When I decided to liquidate my portfolio 3-5 months ago, I made an exception to keep MMX as I felt it had very unique strong short term (within a year) appreciation prospects via an exit. Through no fault of its own I no longer feel that is likely.
I have largely enjoyed contributing to this board and I must say that, on the whole, have enjoyed dealing with MMX management.

On one side, we have SJL asking MMX to come clean. On the other hand, his minion has been through the books and claims all is well now.

"The buyback route indicates to me anyway that a sale is gonna happen in the not too distant future."

Indeed, Bakky coupled with the fact that a permanent team was not appointed either.

Average closing price over last 5 days: 4.24p
Applying the premium of 5% gives 4.45p

Guess what, this is where the share price currently sits.

How could i even think they were being efficient yesterday? I reckon we would have had RNS if they had bought yesterday.
FinCrap being crap as usual. Prob should have been kicked out alongside Toby and co.

It will be nice to add more at 4p. Waiting with cash again.

Code 800 issued i.e. prepare for an increase in trading volume. Good luck everyone.

Mcco, the drops tend to be on low volume as well. I think there is a liquidity issue now with hardly any shares available to buy. Rozzi has taken around 18% and as i mentioned, largest three holders have aroind 70% of shares.
Could easily double and triple from current levels.

Goes ex-div tomorrow

Looks undervalued at this price. Hardly any shares avalable. Hutchison, CEO and Rozzi account for around 70% of shares.
Triple digits soon.

Bakky, FinCrap being efficient for once lol

Bakky, indeed, they stated today in the RNS.

Now that company has been issued with a clean bill of health, i wonder whether SJL will buy back in, esp that his minion had also had a chance to review the books. Could SJL potential buys be competing with the buyback? All, very interesting.

Sold a few this morning to give a chance to the deramper to buy. Majority of holdings still there.

Someone is keen lol

Operating cash flow of at least $4million, coupled with cash balance of $8million at year end, make current mcap extremely attractive.

Generally pleased as well but my pessimistic natures doesnot like the following. Almost as if they are preparing for a major II to exit. But, hey buyback is close to 10% of company - we wait to see how the sp reacts to the buyback given illiquidity.

"and the Company will buy Ordinary Shares in the market as well as any larger lines of Ordinary Shares, should they become available."