Member Info for HedgeHogarth

I may have spoken to soon - some biggies reported after hours. Looks less like a seller and more like some positions closing

I'm not expecting many surprises in the pre-close trading update - I expect it to be very positive with very few gremlins if any

Overall financial performance for the year is in line with management's expectations.

EBITDA in the £8m range

Strong H2 trading

Net Debt up - fuelled by further growth of rental base

Improvement in Gross Margin % vs H1

YOY revenue growth partially impacted by increased mix of rental sales - which means a recuring revenue stream instead of an upfront recongnition

So we still seemingly have a seller....or a shorter still hanging on?

Very strange - not the time to sell this stock if you are here for the business case

SHare goes up when volumes goes up - simple as that

When a meaningul number of people want to get in - the SP will react very positively like it did in Q2 2020 and Q1 2023.

I did a bit of research last night to see if i could gauge anything from the major shareholdings. It looks very positive IMO

72% of shares are with highly reputable Institutions, the Founders and employees.

Details below - latest share holdings and how they have moved

Founders Steve + Walter and close relatives - 20% (No change)

MMAG Employee Benefit Trust - 8.5% (No Change)

Schroders: 13.3% (Up +0.4% YOY and seemingly +0.2% of that very recently as their holding has grown bt 212k vs 30th Nov position on MMAG website - MMAG feature in many of Shroders highly rated funds - looks to be about 7%)

Northern Entities 14.46% (Up 1.1% YOY and +0.6% seemingly ver recently as Form 8.3 shwoing 1.7m more shares than the 30 Nov position on MMAG Website)

Canaccord Genuity Wealth Group Limited -11.2% (down 0.07% having disposed of 70k shares in the last week - majority (10%) of shares are in one of the largest and most successful funds in the IA UK Smaller Companies sector. It is managed by the renowned Hargreave Hale team and has delivered exceptional performance for investors since its launch in 2004.

Oasis Management Compay (1.2%) not clear on movement but these are a predominantly Asian focused Investment house - so interesting that they have a >1% share is a small UK company

Rathbones (2%) not clear on movement but these are a reputable institution

PREMIER MITON GROUP PLC (1.1% not clear on movement but they are held in a (Small Companies Fund)

In total at least 72% of shares with MMAG Directors/employees, Institutions or high net worth clients.

Last year Liontrust disposed of 10% which looks like it got snapped up by Schroders - who just keep adding

All looking good - just one big seller at end of last year - everyone else seemingly adding or holding firm despite the movement in share price.

Some of the most reputable and talented investment managers in the UK are still holding and adding MMAG and have not blinked.

My boss that i worked for who went on to become an MBE and a Government advisor used to always talk about being a billion business.

It's a show of confidence and intent to grow the business. There is a nice saying that we use in business:

"Shoot for the moon. Even if you miss you will land among the stars"

The share price is battered - like so many others. It's not a necessaily a relevant factor when making the decision to sell the business. It will be a strategic decision - IMO it is becasue the company will do much better with additional resources that are currently not available to MMAG

Debt is only rising because of the move into Rental - If Rental is working and driving profitable growth - debt IMO will not be a problem

Brendy - if the news is great - we'll find out what the true SP is here. All we know right now os the SP at which supports an exchange of shares between a few traders and a bit of placing churn

IMO

I'll give you the benefit of the doubt

Hemo's key objective has been to bring about better clincial outcomes for sufferers of Leaukeamia - esp patients who relapse or fail to respond to current treatments

CAR-T is still a relatively new therapy in the field of immunology - I think 6 have been approved by FDA. The results are truly ground breaking for many patients - a technique that scientists have developend whereby they help re-programme human cells to target the cancerous cells. It has been very effecting on the other common Leaheamia (ALL) but so far there have been very little success in AML. Hemogenyx have identified and patented a new target which they believe may overcome the problems that others have experienced.

CDX is a bispecific antibody that also help re-target human cells to attack cancer. It is also trying to cure AML Leakeamia byut also could play an importnat role in replacing chemotherapy when preparing patients for stem-cell transplants

Finally CBR - what could be the game change of game changers. It is the immunology technology that Hemo are working on - this one though is perhaps unique to Hemogenyx. Every time Hemo update they seem to have found ways to further devleop it. Earlier in the year they updated the market with the news that they believe they have designed a single 'mult-purpose' solution that could work for multiple viruses. The B in CBR is key - it stands for bait as it attracts the bad cells - a bit like a human venus fly trap.

If any of these make it through the tough cylce of clinical trials - not only will you have a very handsome return on your investments, you will also have invested in a company that will save many lives.

BUT.....

Until that CH is removed, Hemo are pre-clincial and still a long way from saving lives.

The good news is that we should learn a lot more than just the safety profile in Ph 1 trials. I beleive we'll be testing on patients with AML - so we'll also learn very quickly if the efficiy of the therapy is as effective in humans as it was in the lab.

GLA Tweetstreet

Jambone - just checked Spreadex and it is now saying 95% ppositions are long - so maybe still a few are short

A nice £35k buy at the end of the day

No idea how or why the SP sunk to these lows - it seemed to get stuck in a downtrend

XP almost certainly enjoying their most successful sales to date

GLA, Please DYOR

Petert - with the deppest of respect. You posted for a reason, you claim to have sold out now and either dont't care about the SP or you want the SP to drop. I'd wager on the latter

Giff Gaff do buy and sell 2nd hand phones...

So does Three

So does O2

So does Vodafone

So does EE

So does Sky

Most have all done this for many years

Yet Music Magpie continue to hit there numbers; why? Because the market is huge and growing. It is not just phones, it is tablets and other tech as well.

Less and less customers are paying for brand new phones. The big companies cannot get their hands on enough reburshihed devices.

https://www.theguardian.com/business/2023/nov/21/sales-slide-at-ao-world-as-consumers-put-off-buying-latest-mobile-phones#:~:text=AO%20World%20has%20said%20consumers,phone%20business%20into%20a%20loss.

More than 50% of UK are not on a SIM Only contract. They are not necessarily going to the traditional companies for their phones. They look on ebay and amazone - which is where MMAG are selling them. Inact they claim to be the biggest global seller in the history of Amazon and eBay marketplace in any product category.

The rental proposition is great - customers get a new phone every year. They are targeting B2B segment who value being able to rent phones - shorter contracts, more frequent updates in technology, not owning the asset.

I find it very starnge that you have such a strong opinion at this time. Let's look back at the last 12mths shall we....You did not seem to have an issue with the business model before

This is holding up well today nearly all my other shares are in the red.

there's been a few remarks about the ceo buying shares but it does show he's confident on making a few bob and he's put his money where his mouth is. (Petert - 23 Mar 2023 )

I've got SIG and MMAG both reporting good results today and both have dropped.

The markets have unrealistic expectations if they expect bumper results in times like these.

the only darling of the markets at the moment is RR still rising even today as everything else falls.

I've got some of them too. (Petert - 8 Mar 2023)

MM own Declutter in the USA and its doing a roaring amount of trade, Some great reviews of its service on trust pilot.

This is gonna be huge. (Petert - 5 Jan 2023)

They were the last to submit their Form 8.3%

Although to dampen the speculation a little - It does suggest the disclosure is on behalf of 'discretionary partners' which I believe means that CGW make the investments decisions.

But still - it still i a great indication of the value of a similar business and the involvemnet of Canaccord Genuity Asset Management

When reasearching the recent £170m purchase of Blancco Tech (a b2b version of MusciMagpie)

I noticed that Canaccord Genuity Wealth Ltd - who are the larges MMAG holder with 11.27% holding were heavily involved with the Blanco purchase and seemingly linked to the Californian base Private Equity firm.

I'm purely speculating - but there must be huge synergies of bring MusicMagpie into the mix as their Consumer play - the 'behind the scenes' logistics and operation will be very similar

https://www.nortonrosefulbright.com/en-gb/news/a125eb70/london-team-advises-canaccord-genuity-limited-on-francisco-partners-175m-offer-for-blancco-technolo

It was a UK arm of Blancco Technology Group PLC (under its old name)

Interestingly it has just been bought for £170m by Francisco Partners (A California-based private equity firm)

It was delivering £40m revenue per annum and EBITDA of £10m (and growing)

Very strong in Consumer tech and 'renewing devices' / 'erasing data' / 'performing diagnostic'

https://www.lse.co.uk/SharePrice.html?shareprice=BLTG&share=BLTG.L

Its certainly foood for thought: MMAG Revenue @ £140m and EBITA approaching the £10m mark. MMAG a bit more consumer focussed - so could be an excellent target for the same Private Equity group

Hemo is FTSE Main Market - NOT AIM

Guys - please be careful

This is a BB which for most of the last 2-3 years has been plagued by trolls

The conversations on here and the general narrative is a 'side show'

A few thoughts on the current SP:

- Its as low as it is for a few reasons:

1) Becasue Hemo had needed funding - the CH did not help as it has effectively added 6mth of operation before clincial trials

2) Becuase a minority of shareholders are happy to sell at these levels

3) Because the daily volume is low

4) CDX did not follow Plan A (PLan A was tha GlobalCo license)

5) Hangover from Covid (It damamged most businesses)

6) 2 years of a bear market where most shares have been battered

7) And yes, there are some investors and potential investors who don't fully trust Vlad (Perceived lack of Comms and the fact that he is a scientist)

However,

- The recent Prevail strategic investment from Prevail was at 6p

- Going clincial is a pivotal milestone in Biotech - one that has consistently been shown to deliver a re-rate in share price

- Whenever there has been a lot of volume traded in Hemo the share price moves quickly:

April 2020 - Up +300% and more

May 2021 - down (80%)

January 2023 - Up +200%

So yes the share price is frustrating - it consistently disappoints except when the company shares news that genuinely warrants a re-rate.

If you beleive and trust in what the company hasve shared - it really is as simple as being patient. The SP will take care of itself when the time is right. In the meantime it will moved up and down in a range as traders scrap it out

TYLO - I agree with your numbers

For 2024, market anticipates a +30% improvment in EBITDA - which MMAG may even impove on if they successfully deliver their 'more direct, more renting' strategy

If they keep hitting their numbers - that will give the bank confidence and MMAG credibility. The EBITDA and Net Debt are both in line with expecatations.

So what we have is a growing business - but one that will quickly becomes contrained by capex if it continues to grow what seems like a successful move towards renting.

1 option is to negotiate a new deal with banks - 2024 likely to be an easier time to secure funding and MMAG would have a good chance if it continues to run the business in line with expectations and targets shared with bank

Option 2 is to seel the business to someone with deeper pockets who can accelerate the growth of this company

It sounds like Plan A is Option 2; and as TYLO says, this business looks very cheap now. I see no reason why it won't get snapped up, AIt then comes down to 'at what price' and my guess is still in the 35-40p mark

AIMO - DYO research

Tuan - You shoulds care that this is great company on verges of something very special. RNS very likelyest to land this weeks or next.

You here for reason, me here for big reasons too. I is very well research and know what happend when Bioteccnolojy company reaches this point,

It's a shame that our "ilitertae" / "sometimes literate" troll has not taken the hint to read the RNS properly

That's right troll - we'll al be able to buy at 1.5p next year when clincial trials have started

Give me strength....

Oh look - As if by magic TUAN has suddendly lost his new found ability to write in proper English again

It's almost as if one troll is posting on more than one identity?

What a fruit loop