Member Info for Howdy123

And I will ask again, what exactly are they listing? There's no business, there's no people and there's no money. This is absolutely baffling

AIcommand has been grounded by his sister

I don't have anything right now. Although that's partly because I needed to pull out the money for something

So can you explain to me what TETE does? There is no business, there is no people, and there's very little money left, relatively speaking. Why would anyone buy shares in this?

Lol, now look who's a keyboard warrior. Good luck with that.

I literally did on the previous comment. Maybe you didn't read it

Because the incompetence of the owner is pretty relevant I would say, for any future prospects.

"Huge amount of planning went into this"

Based on what?

Again to remind you, this is a company that spent £5million on a company that went bankrupt a year later. Most of the money they're about to get is just to cover that.

Get your popcorn ready

Until he decides to dump his 50% of shares. Which will happen at some point

Let's be real, 1p and 10p is a big difference

Not much more than what it is. The deal essentially cancels out the debt they accrued the last few years. At which point you're left with a company still losing money and no clear way forward

A lot of companies are not penny stocks like this. The risk here is huge. And the management has shown clear incompetence by spending 5+million on a company which is bankrupt a year later

Except you keep ignoring the significant debts mbo has. Most or all of that money is already gone

Might be last chance to sell before it crashes aswell

You don't like facts and reality? Most of the money they are about to get is going to vanish due to debt

How much tete money is left after they pay off their debts?

By my rough calculation, about 0. They'll be debt free and back in the same position they were several years ago

Here's an actual "plain-english breakdown". Mbo spent a lot of money (~£5 million) to buy a company which is now going bankrupt. However they still owe the money and are paying 10% interest on the outstanding amount. So most of that tete money (if it ever appears is already gone).

I've sold most of my holding recently when it went over 10p the first time after holding over 2 years.

I would say there's a 3/10 chance that this isn't some sort of scam (I mean on tetes side rather than mbo).

Looking at Glassdoor reviews mbo isn't awful. Just seems to have outdated infrastructure. One benefit is the small float and no issuing of extra shares (but there's a risk the owner sells out bringing huge dilution). For now he seems intent on keeping his majority.

In terms of Tete, what do they actually do? They're going to ring fence a portion of mbo's revenue to appear like they earn 100m a year???

That seems like a sell shares and make off with the money if they ever list scam.

Mbo will earn some cash in that case, but they already have debts going towards 10m. So what's the plan for the future???

Seems like not so much possible reward

I'm surprised the egm was actually announced. I'm even more surprised the buying has been pretty meagre today