Member Info for londondan

Well they got the '2' bit right at least...

"The Directors anticipate that additional financing will be required to fund the launch of the App and associated marketing planned for 2022 as described in this paragraph. It is anticipated that such additional financing requirements are likely to be met from an issue of Ordinary Shares."

Quoted verbatim from the AD. People can take their own view. Doesn't say anything about meteors.

"Cannot understand why anyone would sell at these low prices"

People might sell at these prices if they believe that the sp will soon go even lower. I have to say, this share has been on an extremely poor run this year and with more dilution hinted at/all but confirmed in the Admission Document, it's a real cause for concern.

Let's not have another day like yesterday eh Batsy? You don't want to get humiliated like that again, two days in a row.

Some good posts last night Henry / Rikki. All food for thought and similar potential positives/concerns to my own thinking.

I have to say that if they've blown the LiveNation partnership, that would be a big red flag for me and I'd be more seriously considering dropping this to deploy that cash elsewhere. Let's hope that isn't the case, as that relationship is critical to the concert side of the business.

Ah, OK fair enough I wasn't aware of that. In this context, it all makes much more sense. Thanks Rumfuddle.

"IMO I think all your concerns/fear have little or no basis has you do not know what MRV are doing other than what's in the AD."

This is an extraordinary viewpoint. No wonder AIM investors are often so easily separated from their money.

"The live nation investment in veep is concerning considering our relationship with live nation and indicates that they don't have the confidence in MVR to continue investing their time and resources into following the series of events in the autumn, possibly mirroring the Facebook relationship too."

Mooney, this was my take away from it as well and I agree that it's extremely concerning. The LiveNation relationship is so, so valuable and securing it was a fantastic achievement. If we've blown that already, and I pray that we haven't, then things start to look rather different.

"You haven't got a clue what they are doing, so stopped your whining"

As ever, one of us is actually posting about the company and its competitors. The other one of us is you. We've been over this already - you aren't the policeman of this board and plenty of people are sick of you trying to control what does and doesn't get posted here. It isn't working, so give it a rest.

Either post your views on the company itself, or shut up and leave it to the grown ups. Either is absolutely fine.

Re Veeps, this stood out in the press release:

"The platform hosted around 1,000 ticketed live stream shows in 2020 alone, and reports to have delivered some of its highest monthly ticket sales and revenue in the back half of the year."

This sort of thing only compounds my lingering fear that we're going to end up being left in the dust by other, better-organised providers of similar services. As others have said, the current share price suggests that the market agrees.

Just yesterday the FT asked 'Is multi-view streaming the future for the performing arts?' - https://www.ft.com/content/ff5d568c-0338-46ec-bd56-43ac2590deb0

Again, this ought to be right in Melody's wheelhouse. No mention of the company in the article however. It instead focuses on US-based Kiswe, which delivered a pair of multi-angle BTS concerts last year, the second of which 900,000 people tuned in for. It also references the Monte Carlo ballet, which is now producing multi-angle streams of its own productions.

Your frustration is in many ways justified MG. It often feels like we're stuck in the blocks, while the race is now well and truly underway.

I have a Quest 2 and downloaded the app from the Oculus store without any issues. Fairly sure it was suggested to me in VR itself, not in a browser.

Thanks lordfont. I mainly meant because John Legend also performed on MelodyVR in 2020 as well and it would have been nice PR for the company to get a mention in a Sunday Times article. Useful to know about Wave though for sure.

Some interesting discussion here over the weekend. Some food for thought around future financing/dilution for sure.

Yesterday's Sunday Times had a prominent article about the explosion in VR sales since the beginning of the pandemic - https://www.thetimes.co.uk/article/virtual-reality-pandemic-leads-to-rise-in-headset-sales-to-escape-lockdown-jhhn8wghn

It's likely to be paywalled for non-subscribers I'm afraid, but key figures include - John Lewis said sales of Oculus products were up 353% YOY over the last couple of months, presumably driven by the release of the Quest 2. 3,500 people are looking at VR products on the Currys PC World site each day. 1 in 17 UK households had access to a VR headset at the beginning of last year and this is likely to have increased dramatically during the pandemic.

There is a reference to John Legend performing a live show last year 'in an app called Wave', which is slightly dispiriting. Nonetheless, it underlines the speed at which VR is now (finally) catching on with the general public. The time to be establishing the Melody (or more realistically Napster) brand in this field is right now.

Yes that 'Investopian' screenshot is, typically for AIM Twitter, somewhat misleading. It seems that broker note is at least 6 months old; July 2020 I think. When it comes to getting accurate information about a company, Twitter is pretty much bottom of the pile and is home to the worst and most disingenuous kinds of ramping.

lordfont, I wouldn't get too wrapped up in concerns about 5G tbh. Music streaming apps (i.e. Spotify) work perfectly well over 4G as it is. Streaming video the same (Netflix, Amazon Video et al). If you're streaming Melody's 360 videos on to a VR headset, then you're going to be using WiFi anyway, rather than mobile data. The app's release date or usability isn't going to be determined by the global roll out and adoption of 5G.

All of the apps I mentioned offer subscribers the ability to download files to their device however, if they're going to be somewhere where they'll want to watch them offline. This should be a non-negotiable function of the new Napster app as well.

"I'd personally be happy with a bigger fund-raise to ensure app development was more prompt, than for too much time be taken before roll-out"

I think many would agree Mooney. The new app roll out needs to be prompt, this year, and not become bogged down in delays. This isn't easy to pull off, for any company.

That said, while I'm definitely open to the idea of buying more shares, I'm not going to pull the trigger yet when we know that there is likely to be more dilution coming down the line; the admission document is pretty clear on that. I'm guessing that I'll get the opportunity to buy more shares even cheaper than this, when the next fundraise occurs. The risk is that I'm wrong and we'll never see these lows again of course, but that's all part of the game I guess!

Good post Mooney, which I think sums up a lot of the frustration here. Unlike some on this BB, I don't subscribe to the view that if you have even a single criticism of the company's approach, you should sell all of your shares and never post here again. It's perfectly acceptable to say that this is a company with excellent prospects and a big opportunity ahead of it, which could benefit from being clearer and more communicative on its activity, pipeline and strategy.

Pretending to be pleased that the share price is still in a ditch after a major acquisition isn't fooling anyone.

Bucklerfern, I have to say I'm on the side of the board's bulls on this one. If you've never tried VR and can't see the case for it and don't like live concerts/crowds, it's difficult to see how you're ever going to see the appeal in this company. Maybe just move on to the next one.

Thanks Sjd, very community spirited of you. I’ll email them myself. That way I can be sure it’ll make sense.

Curo, I've seen nothing whatsoever to suggest that you're a 'good techie'. All I see from you is whining about 'trolls' and the fact that others may have a differing opinion to you. Might be time to up your game a little, as the recent longer posts from RestLess and rikkitikki are thoughtful, balanced and actually interesting to read. This is in stark contrast to your 'contributions' to this board thus far.

Yes, I think that frustration is what I'm driving at as well. The Head of Technology for John Lewis is in the FT today saying that their sales of Oculus VR headsets are up 280% YOY. The VR market is exploding right now, for all to see. We're ideally placed to establish ourselves right at the very forefront of the market and it just feels as though, for all the good stuff (the Liam Gallagher show in particular) opportunities are being missed along the way.

It is difficult yes, but not impossible. Movies are being filmed again. TV is being made again. Sports leagues are back up and running, both in the UK and the U.S. Yes, each situation is different and requires different degrees of 'bubbles' and the like, but I find it hard to believe that it would be impossible to 'bubble' the cast of a major Broadway musical, currently without any work or income, in order to rehearse and film a performance of a show for global release, on a ready made VR platform. Or just find and start with a famous play with a small cast - 'Waiting for Godot' has 5 roles FFS. Film that!