Member Info for itisagame

Come on MWG you have released an RNS in the last week of most months this year, give us another clue atleast!

Bargain takeover of the remainder for hpp, screws everyone else and no way to stop it.

Still getting quoted 1.575 to buy, come on mm drop the buy price aswell or don’t bother.
Still stuck at around the 1.5-1.6p to buy range

It still wanted to charge me 2.5p+ till close to buy after the big trades, you might have a new big investor announced next week. Someone had to be buying them to facilitate that quantity in a single trade, as if they were just dumped in to open market I would have been able to buy much lower and closer to that price maybe at 1.3-1.4ish.

O/t just spotted that ETX - has just had £2m in a few trades sold at 1.25p! -50%.

Wow, that’s a lot to sell in chunks like that.

Ok, thanks.
Last of all - Is the current outstanding CLN balance definitely still at £845k?
I sometimes don’t see all RNS’ Issued listed, and wondered if I had missed any already completed conversions.

Also my instant thought with ”Why they would convert now “ was to ensure that they have enough support for the vote in favour of raising the Issued share authority levels, at the to be announced Gm

Thanks that was what I read, but I’ve not gone into the deep details of the transaction, just Looking for any potential skeletons in the cupboards.

- £845k At 0.07 = 1.2b + Existing issue of 1.5b (rounded) = 2.7b in issue total.
(Plus on top a potential for 600m in warrants).

And When all the CLN are converted where will the company stand?

Or where does the company stand with the CLN if the other holders won’t convert the remaining at 0.07? Will the company be forced to repay in cash or refinance the debt?

I’ve had a read a bit and my understanding is If This conversion is just the directors fees and the £100k, then if the remaining £630k are converted at 0.07 it will have around ~2.7b shares in issue (+\- consolidation)?

If so At 0.07p It would value the co at ~£2m Mcap.

I can see why it’s a speculative trade at £1m Mcap / 0.03-0.035, it’s a low bar for any listed company.

But What does or will the company have that is worth £2m+?

Genuinely interested in any views from holders with a better understanding in the company.

TIA.

That is some deep pockets to have involved. I think your day will be positive here, especially when the US markets open.

My theory. It’s being Sold to a listed company, is under non disclosure agreements, and they are unable to inform us until the new owner informs the market. Acquisitions take time, DD takes time, tax efficient funding can take time. Approvals take time.

We know it’s coming, anything above £500k will be positive to the sp around this Mcap, if it was a fire sale it would have been finished by now.

Don’t forget the possibility of other positive News for the membrane division.

Aug 30th
“ The Company confirms that negotiations for the sale of the assets of Modern Water Inc., the US-based Monitoring Division, are ongoing and further updates will be issued as soon as there are any material developments.”

30th Sept
“ "The first six months of 2019 have been difficult for the Company: on the positive side Modern Water's excellent innovative all-membrane brine concentration technology was again proven by the sale of a full-sized plant to one of the world's leading chemicals companies; and the Monitoring Division's sales increased significantly. On the negative side, sales especially in the Membranes Division were not developing fast enough, leading to the insolvency of two of the Group's subsidiaries. The Board is working on selling the Monitoring Division and on re-structuring the Membranes Division to ensure that its valuable technologies can be commercialised more rapidly."

30th October
News?

Have a good weekend all.

Maybe they could use some membranes to help filter that water, Simon - give Boris a call

“ An environment bill to "enshrine principles in law" and set legally binding "improvement targets" to reduce plastics, cut air pollution, restore biodiversity and improve water quality. A separate animal welfare bill to outlaw trophy hunting.”

Just looking at the Cogent Environmental and modern water services filing history on companies house

Cogent Lists modern water plc as a creditor with it owning £3.8m, only other creditor was Barclays for £500k. Vs it’s £980 cash in bank.

Similar story with modern water services it lists mwg plc as a creditor of £24m.

So We have accumulated a fair chunk of losses to use against future tax bills that’s for sure!

the two companies combined had losses of over £2.1m for 2017.

Smith and Williamson llp at 25 Moorgate London is now the registered address for both.

A bit of light reading.

200k at bid, 250k at ask.

Nothing discussed here will change the sale price, we are all in the dark until the price is announced.

Anything interesting going on in The markets today?

look at the accounts, look at the running costs for past 12 months, deduct the revenue and costs related to the disposed assets and then you have a rough 12 month running cost for the remaining company, they expect the sale to generate whatever that figure is as a minimum to achieve “going concern” status.

Not hard really.

150k at bid vs ~300k pretty much at full ask.

Yes, They are one tenant listed there, many other companies on the 12th floor too.

https://suite.endole.co.uk/explorer/postcode/ec4a-3bf

Obviously a negative take would be
“of course they shut them they liquidated two companies”

It shows that things are moving, after all why would you need a warehouse in the UK when your membrane project supplies and parts can be shipped from China direct to any site worldwide, shows good cost reductions put in to practice.

Leaving A London office for sales and the listing.