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So if approved there will be 1268m shares. Roughly 1050m gone by the time Atlas finished. The balance added to the 'commonly controlled' shares would be roughly 24% of the company. So if Eric just holds the shares without using them he holds a good stake that the predator can't get hold of. Does that sound like what may be happening?

Eric may not want to put 'his' money on the line like that.

They have a facility with Rising Dragon - $1M?

Do we think the predator (?) wants to be beaten by Eric? I do wonder if they'll make their move soon. GLA whether in or out of this share.

He said he wants shares for Atlas, future aquisition and cash needs. He shouldn't have offered Atlas shares if he didn't have authority. I am not sure what acquisitions he's talking about as the one eluded to earlier in the year presumably was the mypay one. And cash - he wants more cash already? It all comes back to communication.

A fair amount if annoyance on the board tonight. And rightly so. Maybe that's how business is done in some circles but agreeing the bonds with atlas knowing they were unlikely to have the authority to issue the shares does not feel right. So what if PI's have now had enough and start selling up in fear of further dilution? The predator picks up more cheap shares and the company's fate is decided quickly. Eric really needs to give us good news now so he keeps people on side and he helps to push the SP upwards so it makes it more expensive for any predator. Will he or won't he? I doubt it.

Yes I wonder if they will now come out in the open so they can vote but equally make an offer too good to refuse. Maybe wishful thinking

I agree. Eric should give us more info about the progress being made before we get to the 30th. I do also wonder if this move will prompt any predator to make their move before that date so shareholders know who they are and what their intentions are.

All - what does this actually mean? They don't have the authority currently to issue the shares for the Atlas conversions? We could be looking at further hefty dilution. This is Erics defence against any predator? Etc? Thanks

Not sure about the new founder but the first conversions should start tomorrow. Activity should start to pick up.

Presumably if any of these it's more likely to be 1 (buy back of bonds?) or 6 (possibly the best option).

Does look like another after hours sweeping buy. Suspect there will be more activity after the Atlas conversions start to kick in later this week.

Generally leaning towards take over which is what I think but would genuinely like to hear from those who think otherwise and can offer their views on the undisclosed holdings. Thanks

There's been a fair amount of take over talk recently and others who say it's not true. If it isn't going to happen I'd like to know what people think of the 14% undisclosed holding - what other explanations could there be for it? It suggests someone wanting to stay under the radar for fear of what may happen to the SP once it's known. Any thoughts?

The conversions have started. Last time the price trended upwards as they were worked through. Predator or not, they don't need tencent images anymore. The news which will fall will help us through the conversions - soft launch update, licence confirmation, year end update and September all to come. I think Atlas have found their bottom price, will milk it and benefit from SP reaction to the news as they go.

Good to see the conversions have started already. They waited over a month last time. I also don't think the price dropped very much from that point onwards as they worked their way through them.

Thinks it's just MM games. Need more stock so scaring some to sell. Big buyer will want more. Small concern - if at 20 pc already as someone suggested earlier and they take all of Atlas 20 pc they haven't got far to the magic 50 pc take over number. Is that a concern vis any offer that may come?

8p? - don't aim so low. September brings new riches.

Assuming this is our mystery predator they've realised they cant operate under the radar anymore so are buying in bigger chunks. I think they and the MNs realise that they need to raise the bid to encourage more selling so that they can fill the orders. When will it stop? And what is Eric going to do? Whatever it is let's hope the price keeps rising from here.

I guess we shouldn't put too much trust on this website always getting the trades right but shows value of 20M sells vs 12M buys. And then the 11.5M trade. Surely to go up 27% the buys must outweigh the sells, which would suggest the 11.5M was a buy with the order filled earlier in the day when the price was climbing. Things slowed down this afternoon probably because the buy order was filled. Just my opinion.