Member Info for itisagame

Lol an unexpected ~0.075p being returned to shareholders from assets valued at zero being sold and it drops.

Celadon is the bigger fish that’s waiting to be sold still, if it sells for $4.2m based on this distribution then we get ~0.15p back from that.

That would be ~0.23p returned, then a dribble of other misc assets and a bit of cash left in company.

Upvoted for “ Goldman Ballsachs ”
And their friend black*ock

Oh no, atleast one person made a few quid on one of many trades, that’s it courts doomed to fail, shareholders making tens of £s can’t be having that.

IK I thought you would be a bit more positive given you told us you got 1m shares the other day, now 4p this is £20k you made ;)

Spread was down to 0.02p briefly the other day, back to 83% today, bloody joke.

“ Freshfields hands out extra bonuses to private equity lawyers”

Ordinary shares get 20% of :

$1.4m cash in bank
$2.18m from six flags, just received
$270k from gobi

Then
Moliword still up for sale
Oh and Celadon still waiting for “ If this occurs the Company would receive approximately USD 4.2 million. ”

A little bit of running costs and legal but >£500k to distribute to us ord holders currently and if moly and celadon sell, another chunk of a similar amount.

People seem to forget the impact that Covid had on the country initially, the initial offer was fair given the situation at the time, amigo had ~£500m of debt which could have foreclosed on the company and claimants could have had nothing.

Don’t you remember the fall of many companies in 2020? Trillions of assets wiped out, companies falling left and right because they couldn’t operate.

Amigo had the worse of both, they couldn’t lend out new money and they couldn’t take money from existing loans, and because of this they could t raise money, it’s a miracle of cash flow that amigo is even alive (just, but it doesn’t feel it)

The first scheme was fair, and you can thank the government furlough money which kept many customers afloat and they kept up their repayments, which Is largely why amigo has been able to survive and offer greater returns to customers.

No party has won here. (Shorters aside)

Franky, One line in the open letter removed all remaining NAV that my hopes were pinned to.

“ The rest will be from the collection of the existing loan book. Any excess, after operating expenses, will be put into the Scheme.”

There is nothing left for existing equity.

Could argue they have amigo Ireland, which has a made couple of mil in loans but that won’t cover running costs at that rate.

Because there is no equity left in the business without that additional capital raise the FCA will not approve a return to lending.

This is why Mike left, the goal posts changed, we should have returned to lending early 2021, that is what Mike was sold when he joined. It should have been a simple - meet the criteria, court passes, cash can be raised against the remains of old company without mass dilution, back to business.

It won’t see £1, it will struggle to see and hold 10p before rights issue because there is now no NAV to back it up.

10p is £50m mcap, for a company that has no NAV, you are buying a shell pre dilution, pre financing, unless someone has £15m to stump up and loan to the company if the scheme passes it’s going to hurt existing equity.

Can still trade the speculative ups and downs, but it’s not an investment, it’s just a roll of the dice until things are cleared up and funds secured.

It’s set for a wind up process and The preference shares restrict it, but once assets are sold and cash divd out who knows, would take someone buying out the preference shares or atleast doing a deal to merge the two and obtain a majority voting right to secure a listing, it’s a bit of hard work but doable, wether it’s worth it to someone who knows.

What actual assets does amigo loans ltd have to lose if it winds down?
All Loan book returns above running costs are going to claimants.
IP ? The names dead, beyond repair
The computer systems? Tax write offs
Computer software? - easily copied / replicated elsewhere / used in Ireland anyway and probably licenced software not owned made and owned by ALL
The app - easy code to copy, no IP about it, out of date anyway.
Their
Staff? An unfortunate inevitable loss, but can be re-employed
A lease on a building?
She’s loads of liabilities?
It can’t lend at the moment and it seems to be taking longer than starting fresh for the FCA to resolve.

Nah not worth it, wind it up, change the PLC name, bonds get paid, staff get their redundancy pay, start a new company and apply for a new lending license if you want to stay on UK, it’s not phoenixing because don’t need to take any assets from Amigo loans ltd.

Just need a nice catchy name that people would remember
Cameloans?
Game of Loans?
Staloans?
Star loans?
Cheaper than provident loans?
Forever a loan?
Fantastic finance?
Vanbeer financial services?

Take the hit or If you want to make money back buy the RI if it comes to it and join them on the new venture.

Love loans, 99.9% but you get a happy ending.

I’m still hoping they dish out the cash and then someone wants control of a clean shell listing for just £100/200k of capital investment

26 November 2020
We are preparing to return to lending, on a prudent basis, as soon as possible in 2021. Until we do so, and until we have more clarity on the financial impact of Covid-19, the Board considers it too early to issue guidance for this financial year.

thats why many invested heavily again.

When the time comes Roy, atleast you can say you tried, it wont pay the bills or put the kids through school or food in their bellies but we all respect the attempt you made to better yourself and your family.

You Tried, just like many of the people who took loans from amigo to create businesses and better the lives of themselves and others around them while mainstream lenders wouldnt bat an eye and loan sharks were prowling.

You tried to improve your life, just like the people amigo rescued from high interest loans and put them on their path to conventional credit.

Genuine people are losing on all sides, customers, investors, staff, and many other parties lose too.

We all want the handful of genuine claims to be paid, but the non genuine claims that are simply taking advantage are screwing over genuine people

NAV :
Amigo 1.0 is worth 0.0p

Amigo 2.0 funded with new financing of £70m (-£15m given to claimants) could be worth a speculative bet at up to 2x cash (2xRI price, whatever it might be), probably be able to buy at or around the RI price close to the date as so many shares coming to market.

But do you buy now and contribute to the donation pot going to claimants Via the Ri and take the risk and wait the time to that point?
The logical answer is - Nah probably not worth it, i want 100% of my cash working for me, im not a charity, i give to the stock market, ill give to the company, but im not giving directly to claimants, they have cost me far to much already.

20% of it so at £/$ 1.3 maybe ~£330k back to shareholders from this, bit of cash in bank and few other bits and bobs to sell, maybe get the 0.1p back.

Mother - whatever

They Still have mollyworld a few others and then mother remaining cash in the bank to dish out too.
80/20 split preference shares and here .

I might even brake even

Lol that lasted long.

$2m between here and preference shares.