Member Info for Ironic

I can’t see it having any money , I can’t see it clearing all the debt

Let’s see what TASE make of it . They are nearer to the action .

Looking at last financial results the difference between Mobfox and TI was not that great . Mobfox was sold cheap after ploughing a fortune in to it . Infact sold for a fraction of what MTMY paid for it . Saying it was dragging them down , but way up both sets of figures .

The link is blocked but the info to find it is there . It states the price MTMY must pay and the legal obligation to pay .

Rainmaker and partners value TI at $ 3.6 million per 10% going by the offer . The agreement the Bond holders have tried to dodge 8 times is to pay $ 18.18 million for the last 10% . 500% more than Rainmaker value it at . But it is a legal contract to buy it and to buy it at the price . This offer is a way out but must surely lead to Bankruptsy as the Bond holders “ SHALLBE PAID FIRST “ , in today’s RNS SHALL not would but shall ! . Exhibit I Letter from Legal Counsel to Rainmaker Investments GmbH
www.rns-pdf.londonstockexchange.com/rns/2506J_1-2018-12...
Internet, concerning the purchase of the balance of Rainmaker's shares in Team Internet (hereinafter, "the Agreement"). According to the Agreement, among other things, Rainmaker

The bond holders are saying thank god 😎!. 8 times they tried to dodge their legal obligation finally Rain maker has given them a way out

Every one new TI had lost value just like Mobfox had . They were being forced to buy the last 10% but tried 8 times to avoid it . This is the next best thing

A far cry from the £180 million people said it is worth ,

I did post some where along the line that Rain maker obviously did not see value at the 60% discount because we had defaulted and they would not buy . Is ir $50 million or $101 million tothe bond holders ? Consideration - cash consideration in the amount of USD 36 million, payable on execution of the definitive agreement for the Sale Offer; such consideration shall be first used for the full payment of the amounts owed by Matomy to holders of its outstanding convertible bonds (the "Bondholders"), which currently amount to approximately NIS 101 million in principal, plus interest.
NSI is linked to assets and liabilities.

The Bond holders are owed $50 million . The RNS says NIS 101 million . NIS is linked to liability’s . ...”Consideration - cash consideration in the amount of USD 36 million, payable on execution of the definitive agreement for the Sale Offer; such consideration shall be first used for the full payment of the amounts owed by Matomy to holders of its outstanding convertible bonds (the "Bondholders"), which currently amount to approximately NIS 101 million in principal, plus interest.”

Can you give date of the RNS please . I don’t want to be saying I think this is going to be bankrupt if I have missed SOMTHING .

Fair points ...what is the business plan , what value is there . How do you see them surviving ? . Sorry to put you on the spot but people want opposing views mine are clear .

Any other market would have suspended trading on a RNS with such big implications eg . Looks like bankrupt . Others would suspend trading to level the playing field on each market . This may happen . Consider taking the oppertunity , don’t look a gift horse in the mouth . NOW is the time for apposing views if you disagree speak up now ...people have got important decisions to make . GLA .the market sucks ! .

I pulled out a few days ago . The odds changed when most big holders were selling down , it can go either way big style . So I need it cheaper to buy back in . I admit I will probably miss out but risk reward is not good enough at the moment . I note it has gone blue .

I would be surprised if there is not legal action from TASE ....we should have been suspended and opened whilst TASE was open to give equal oppertunity . This will not go down well ! .

Let’s be kind , say Bond holders don’t force Bankruptsy demanding their $50 million back and only take half then MTMY have some funds but still paying out $1.5 million in intrest each year and other costs and wages . Take what you can , be glad it’s our market that is open ! .

Any one in MTMY I would take the hit and sell up fast . This is one of the markets good bets it will be debt free when the deal finalises .you have to be debt free in this day and age to survive our markets .

I am sure there is a RNS saying TI was there only asset . The sale money won’t cover the Bonds . A few months ago one of the proposals on the web page not RNS was a placing and the Bonds but that got squashed . So looks like they can’t even get Wonga style placing . I would run and leave Tase holding the baby .imo

This is probably one of the less corrupt deals on the market . Mobfox lost value , Team Internet lost value . The clue which I posted a few times was the legal letter to the Bond holders telling them they had a legal obligation to support the purchase yet they kept prosponing and delaying . There was a pump and dump attempt a few months ago , I thought hard against it and a big wig complained to LSE who suspended my posting and threatened me with a life time ban . So I couldn’t warn people to much . I tried sorry . This will go bust .

Eitheopia average wage £132 a month and tariff free trade will make for hard competitive prices . “Ethiopia offers significant commercial advantages given its tariff free trade to the Company's target markets, low production costs and strong local government support to the textile industry.” So we will Debt free no intrest payments to pay , paying very low wages compared to most but average to the country with no trade tariff fees and $1.3 million of nearly new machinery to start us of . Not sure if we supplie the other $1.5 million of machinery and bolted on to the World leaders customer base . Looks good .