Member Info for itisagame

All this has done is lower the vwaps which ehgo use to determine how many shares they will get, the longer it’s lower the more shares ehgo will get when they eventually come to an arrangement to resolve it, a few open letters has cost them nothing but the impact of them on the share price will probably double their return on what might actually be ... their last batch of shares in icon. (Lol how many times have we heard that over the last 2 years?)

.012 to .006, in a week, EHGO have made their point.

Strange wall of trades all timed at10:26:01

It Would have been a different story entirely if they kept that single line in the agreement that set a minimum set price for the conversions.

They Must have changed their mind, that was an expensive 2hrs market time hold.
21-Jan-21 09:00:31 0.0066 136,986,301 Sell* 9,041 O

They won’t buy a single share, they will convert the deferred part of their wage in to stock once it builds up over time, tacked on to the side of future fund raise and yes it will probably create a false rise, people will buy off the back of it but in reality it will only to let the placees of that future fund raise out at a good profit.

They both acknowledge “ The Company has always been and remains open to reaching a settlement agreement with EHGOF on commercially practical and sensible terms.”

It’s not hard to come to an arrangement in business, even easier for this board because they don’t care how many shares are issued.

I’m Still negative on the company, it’s a sh show no doubt.... but...the gamble is enticing. So own over 1% now, not sure which way I’ll vote if it comes to it, probably for OTT and hope they can line up a mediocre acquisition from their investment portfolio, plenty on their website that could generate an income.
Just Settle the outstanding with the cash icon loaned out.

Has anyone actually audited the wdc debt payments?
I thought there was only the last one segment of £125k or something like that left to convert last year and that was what they were doing a placing for?

Well that will properly wipe out the momentum for a while.

And why put this in ? it’s not a tinder bio
“ In an unremunerated extra-curricular capacity, Mr Holt is treasurer of the general committee at Camberley Heath Golf Club.”

They say stakeholders because bonds and senior debts have priority, they preserve shareholder value by keeping the above happy.
Equity holders are always bottom of the pile.

Its from 14th Jan, given that it closed at 0.1 then it could have also been a wisely timed sell...

Side theroy, Did ethos actually sell “real” shares to OTT? Or did they forward sell them shares to OTT expected that they would be able to forfill the order down the line with more conversions that turned out to be cancelled and thus are EHGOS short of shares that they do not want to buy from the market?

Always a chance that they Bin off the subsidiary as settlement and its back to square one a shell ;)

Took a punt again, just a gamble, even though I think the share is a disgrace and shouldn’t be trading and I don’t trust DS or the board in slightest but something dodgy is going on, think he’s lowering the sp to get more stock at a lower conversion rate or close a short or something, and if he gets his full it will be manipulated upwards, if not it’s 0.
it’s all to odd even for ICON.

I thought they upped the offer to 120.9p on the condition that the SOA was successfully implemented and they got the loan book back to over £700m.

It says on the results presentation There are no financial covenants on the bonds, aslong as the company keeps paying the coupon it will be fine.

Every indication the company has given has said the same expected claims cost is within the provision already made, there is no chance of them going bust while they have the with ~£140m currently in the bank (latest bond coupons are due or have been paid from the last reported £160m) so if you want to predict the sky falling in you will have to wait till 2024 at the earliest.

Even with some government support there isnt that much cash floating about for amigos targeted customer base, there will be even less about when people have to start repaying their deferred bills and companies make permanent changes to staffing levels when furlough ends. This will make it more difficult to find suitable customers that can afford new loans but the likes of Amigo are still very much in need.

Plus we dont know what new products and rates Gary is going to pull out of the hat, Amigo could end up with a very strong offering.

It still had a 20.9p NAV (In Sept 2020) so with when we are relending and SOA is in place that should be easily achievable.

£1 is not a dream land prediction, it is possible but it will just take time (probably 2024+ aslong as bonds are repaid / refinanced), things going our way (SOA, FCA, FOS, Customers making payments etc), hard work (lots of new loans and resolution of old ones) and a fair bit of luck.
An eventual div would help the sp get there aswell.

And they can still currently buy the bonds back at ~50p in the £1 so who knows they might even get to a point where taking advantage of this is possible.

Even with the FCA we are very much below last reported NAV.

30 September 2020
Net Assets £99.6m
£99.6m / 475,333,760 shares in issue = 20.95p / Share.

Risk / Reward still is very high, GL.