Member Info for Jonnyfro

@Jarvs at least one contract in May
It is expected that the Company will finalise at least one such contract during May, with initial revenues being received from June

25m of sells was delayed from yesterday

Why would ehgo notify now? On the previous tranche they didn’t notify until they’d sold the lot. Align suggested that ehgo and ds would act as a concert party so ds would take ehgo shares Ds has right to 29.9% Hard to see the wood from the trees but I’d hope that ds has agreed a number to take of ehgo here’s hoping its 190m

So we have 3 more ex-Unilad members joining the team
Mo Khalid - https://www.linkedin.com/in/mo-khalid-68210a30/ as Head of strategic partnerships
Matthew Vincent - https://www.linkedin.com/in/matthew-vincent-ba1947b0/ as Ops Director
Megan Jones - https://www.linkedin.com/in/megan-jones-b38570108/ as Ops Executive

Seems like Iconic are on the hunt for some of the old guard who are best placed to bring Unilad's old clients over to Iconic. Certainly if it was all as bleak as some were making out they wouldn't be hiring senior level people.
Next news contracts IMO

Have you Chris?

Not so sure LB28 as the 1m tends to be retail but we will find out soon enough!

Anyone thinking that WDC might be insisting that they can only sell 7.5m a day?

Early days but there was a 7.5m sell yesterday and then nothing else
Today 7.5m sell again

If true much better IMHO

Come on DS time to exercise the option over £585k and kick EHGOS into touch for the time being

it hasn't been officially announced yet.

Just this tweet from Align
Align Research
?

@AlignResearch
3h3 hours ago
More
Widecells #WDC picking up again. We got confirm from EHGOS that no further penalty shares now apply.

Also remember that DS has worked with these guys since June last year.
After the sale of Unilad to lad bible the 3 top guys were free in October
Don't think they've been sat on their ass for the last 6 months - DS would be getting them to line up contracts and then integrate them into the WDC business

A number of news items to come IMO
1. Clarification on EHGOS and ideally termination of the CLN financing
2. DS acquires 29.9%
3. Pre-identified contracts signed with cash up front
4. Update on whats happening with WDC side of the business

Investor conference? Why do you think we will get an RNS on the outcome of this?

People present, people listen, ask questions, job done

Did we know that Linton Capital was Unilads financial backer?

DS is a partner at Linton Capital

https://ukinvestormagazine.co.uk/unilad-viral-publisher-faces-administration/

https://www.thedrum.com/news/2018/10/16/unilad-sale-ladbible-confirmed-staff-told-brand-will-live-downsizing-mooted

From Jay_p who attended last night

The stem cell business
is not going to be sold or closed down, but they will try and make it work. They didn't mention how much was left or what the penalty payments were regarding but DS stated the CLN was not to be cancelled - interestingly he did say there was a place for them but the way they worked had to change. More dilution to come I'm afraid.

Anyway the UNILADS can go after their previous employers clients and they are seeking to become cash flow positive within 9 months (before end of the calendar year). Going to focus on agency consultancy and online publishing brands in highly valuable but yet under targeted markets like e-sports. They said this won't be like UNILADS exactly as the market landscape has changed but they know what works and what could be done better.

I got the impression they had the rug pulled from under them last year. They expected to double their revenue from £10m to £20m a year if UNILADS had continued. The contracts are 12 months but clients retained UNILADS because they were so effective. Mentioned also they had been recently offered something that had had £7m VC capital invested - they were offered it for £20k. Long term they are looking to build their own social media platform (e.g Facebook) and their own messenger service but this would be further down the line.

There's a very strong investment case for this company now.

Further to the announcement made by the Company on 6 March 2019, concerning the drawdown notice issued by the Company and the issue of Convertible Bonds, the Company wishes to correct the announcement as follows:

The Company issued a further drawdown notice under the financing agreement to the Investor for the aggregate sum of up to GBP1,465,000, for which the Company shall issue Convertible Bonds to the Investor on the following basis:

I. GBP1,000,000 to be subscribed for and paid to the Company immediately;
II. GBP265,000 to be subscribed for and paid to the Company on 6 June 2019; and
III. thereafter, following the 6 June 2019, one further tranche of GBP200,000 to be subscribed for and paid to the Company on the date which is 40 days after the 6 June 2019 (or the next business day).

Reread the schedule from the 8th March RNS

Frmo the 8/3 RNS

Convertible Bonds for the principal amount of GBP80,000, together with a penalty payment of GBP120,000, resulting in the issue to the Investor of 80,000,000 new Ordinary Shares ("Conversion Shares").

So drewdown £200k

The Company issued a further drawdown notice under the financing agreement to the Investor for the aggregate sum of up to GBP1,465,000, for which the Company shall issue Convertible Bonds to the Investor on the following basis:

I. GBP1,000,000 to be subscribed for and paid to the Company immediately;
II. GBP265,000 to be subscribed for and paid to the Company on 6 June 2019; and

1,465k as per below pic but comprised of the £200k drawn down and the 1m and £265k

14/3 A further £287,500 from the 1m
19/3 A further £375,000 from the 1m
Totalling £637,500

Leaving £362,500 to convert by EHGO or as per the prospectus DS has entitlement over £585k

European High Growth Opportunities

From this morning - EHGO are on fumes IMO

Yes - however DS has a right to exercise £585k of the convertibles
If he exercises them all then there's only about £20k left for EHGO to exercise