Member Info for Invest4theLT

https://www.google.co.uk/amp/s/uk.webfg.com/amp/news/aim-bulletin/mysquar-chairman-resigns-amid-red-dragon-spat--3582698.html https://www.google.co.uk/amp/s/simplywall.st/stocks/gb/software/aim-mysq/mysquar-shares/news/what-does-mysquar-limiteds-lonmysq-balance-sheet-tell-us-about-its-future/amp/ https://www.google.co.uk/amp/s/nysewired.com/2018/11/08/what-are-analysts-saying-mysquar-limited-lonmysq/amp/

https://consult-myanmar.com/2018/11/08/myanmar-goes-digital/

The new MyPay guy was N Nyugen. Chief Financial Officer from June. Don't think he made it to the Board so may have gone too without the need for an RNS. Presumably he was supposed to be watching the money but didn't notice anything wrong for 4 months. Clearly very good at his job.

It's been there a while. I'm guessing it's not a real job or at least not going to be filled any time soon.

At least it's only supposedly 1m not 2.2m.

https://www.standard.co.uk/business/chairman-piers-pottinger-quits-as-apps-firm-mysquar-probes-1-million-irregularity-a3983426.html?amp&__twitter_impression=true

SVS still listed as joint broker. Not looking to get away from this just yet.

So do we think the WeChat deal was made up? If not, presumably they'll walk away now.

But from what we know Rising Dragon (Mr K) had 9% of the shareholding 2 weeks ago. If Eric/Rising Dragon has anything to do with the alleged missing money Rising Dragon wouldve sold shares sooner surely. Apart from getting an early nod, I think Mr K was duped like everyone else.

The interim results said the group operation had been financed by cash collections of revenue and the issuance of shares. The RNS hasn't actually said they don't have the $2m that was presumably put in an escrow account for the payments license. They just say the day to day cashflow is low. That said, presumably the bank will think twice about issuing a license to a company embroiled in an accounting scandal.

How could they say 4 weeks ago they were going to give Eric a 12 month pay off if they didn't have the money? Did they forgot to remove him from the bank account signatory list when he left the building!?! Presumably the £600k was to plug the gap in the short term so what made them pull it?

Atlas held off converting for a reason. Maybe to be at the front of the queue if things went wrong. I think the 122m was smoke and mirrors- i suspect 80m of that was MyPay.

We were on our knees and they didn't sell it. Why do you think we'll get anything worthwhile now? It feels like the final stages in the game plan. Squeeze out the PIs and take the products on from here without us.

Rubbish day. Not sure how you only just realise you're short of cash. What has our new Chief Financial Officer been doing over the last few months? Presumably not his actual job. It may be a coincidence but Fastacash disappeared sometime ago. Brief references to its demise on the internet. MyPay bought it out (no idea how much) and Mark Carter of MyPay wasn't apparently liked by all the Fastacash staff for some reason. Roll forward to what we've just seen today and we have the apparent demise of another company and a CFO who used to work for MyPay. Possibly pure coincident. Mr K also had links to Fastacash and may have lost money there. He may not have done so badly here though. Looking back at those larger trades earlier last week (21m, 16m and 5m the following day) they coincidentally amount to 4% of the shareholding. Mr K held 2.01% in each of two of his companies and there were a fair few 500k + trades that followed last week. Was the attempted placing an attempt to buy time or credibility to the process? How did Tencent get mixed up in all this? - presumably that wasn't made up. So many questions and we may only get get a few answered eventually. Poor or deceitful management by the BOD. I don't know which. Very surprised Stephen Plummer got on board unless his purpose was to add credibility to the BOD before the news came out.

Exmex - making some more shares available to discretely buy at this low price may have been too tempting to turn down given the delay in the license. I am not sure if was pre-planned as if the license had already arrived I don't think it would have been needed. What is very likely is that someone still wants us. There's no bidding war - probably because that someone already holds enough shares to stop another being successful with a takeover attempt. I am not sure we'll be offered a great deal for our shares if it comes to that, but a mark up from here nonetheless.

Looking at the other companies with the MFS licenses, I don't think foreign ownership of Mysq is going to be a problem.

https://www.google.co.uk/amp/s/amp.scmp.com/business/companies/article/2164891/tencents-investment-arm-has-been-buying-stakes-platform-companies

Why were SVS appointed? Why would they take a £600k gamble on a placing where the money was supposedly only going to last another few months? Who in their right mind would take the shares off them? Possibly a client who wants to stay under the radar still. No one really expect them to get the 171m shares away any time soon without the license, JV or take over. Will they therefore hold into them for the time being until they can be expected to sell them down, or perhaps have them acquired formally by their client. If a company comes along now and takes these and the Atlas shares they'll be at roughly 50% of the holding. It does seem this could be another twist on the way to full take out after the license is granted.

Probably posted before but may support thinking that Tencent want to expand WeChat in Myanmar and get their hands on the licence:

https://www.reuters.com/article/us-tencent-holdings-malaysia/tencents-wechat-pay-seeks-license-for-local-payment-services-in-malaysia-idUSKBN19W0RN

How does anyone see the funding happen that's going to be needed for 2019? Without a JV or take out, and with the SP so low more placings may be unlikely, what do you think is going to happen?

Do we simply need a JV or take out?