Member Info for LOTM-13

Where exactly is the funding for the special divi or buybacks coming from ?

They have significant outstanding financial "commitments" to the SVV2 & SVV3 funds that they need to cover first of all.

So many things are not in MFAI's control & that's a big part of the problem. They have no idea when the next exit might occur & until then they need to keep meeting there SVV2 & SVV3 commitments ( or sell down some of there existing holdings to lower there risk profile).

If there is another exit from SVV1 MFAI will only get 50% of what SURE gets, they will then be the mercy of SURE as to if & when a distribution (capital or income) occurs & the size of it.

LOTM

Northern Standard Limited got 216.667M of the 400M that were part of the initial firm Unconditional placing. We've not had any other shareholding notices since those placing shares became live on 9th July.

Directors clearly need to waken-up though, 66.66M warrants to the broker was uncalled for & just stupidity.

Now I don't mind the non executive director being paid in shares if that's what they want as it shows faith in the business, but if your going that route rather than cash, the company needs to be buying the shares in the market or other approved scheme to give to the non-exec & not issuing more shares continually diluting existing shareholders. That's a quick way to a bad reputation as a "confetti board" who simply don't understand investor sentiment & the stockmarket.

The GM is on Thursday 24th July, they should be providing shareholders with an update at it. They should also be giving us an update about all those potential customers who wanted a strong bank balance before placing work orders ............... they know the company is now funded into 2027, yet they seem slow to be acting, was it just an excuse as to why they weren't placing orders & now there bluff has be called, are looking for other excuses instead?

Happy to hold mine, but will in due course be having a word with the BOD to wake them up.

LOTM

Bobat1234,

The Footasylum post was 4 days ago, I doubt it has anything to do with that, has to be something else!

Have they just got another big order from the Far East, that will be announced on Monday or has the HM Prison service trial gone to plan & the government is going to expand it further or place orders ?

Its more likely to be something like that that's behind this sudden interest in the shares, because for the last few days its been struggling to hold 1.1p with literally no buyers then bang, buyers galore!

LOTM

Hi DreamTheater,

I have no idea which way it will go but I'll be shocked if there isn't a 7am RNS that's for sure.

LOTM

Who knows but there's not usually smoke without fire ............... and the buyers seem to still be coming for it ....... so it looks someone knows something or thinks they know something that's for sure & on a Friday afternoon to!

GLA

LOTM

Or maybe Dr Cooley is taking a bigger stake in the company ?

Something is certainly going on as it was struggling to hold 1.1p as the bid this morning & then at 1pm its all changed !

LOTM

Wow what's going on .............. where's all the buying volume come from ?

A new contract leak ?

LOTM

I'm pretty certain there will be an RNS on Monday morning ahead of the AGM .................

I guess people need to make up there minds whether it will contain positive or negative news & act accordingly.

GLA

LOTM

From 9am today .......... https://www.linkedin.com/posts/thruvision_unexplained-clothing-losses-we-are-specialists-activity-7351158688704864257-Mcnh

Unexplained clothing losses?

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Certainly pushing the "Shrink Problem" theme at the moment ......

Would rather be seeing some of these new signed contracts that they thought they'd be getting done in July coming through instead ........ Or even better some of that £18M+ pipeline getting over the line!

LOTM

Hi BetterCallSaul,

when they first started the strategic review, they had a cash runway until the end of May, then they got a few orders come in & the runway extended until the end of June.

Small orders continued to come in & so when the strategic review ended they had just enough cash to last until the end of July, but could see potential orders coming in that would take the runway to the end of September, but then the big £1M+ contract came in (at less than 3 months from first contact if you look back at when the event that sparked it in the Far East was held) which extended the runway until the end of the year on its own!

Then they did a £2.5M placing at 1p per share! & said they now had a 12 month cash runway to end of June 2026, which makes no sense to me at all, because if £1M+ of sales gave them a 6 month runway then £2.5M of actual cash should have given them conservatively 18 months+ of cash runway.

The other major point missing from there latest RNS's is the size of there pipeline of opportunities, it was last listed at £18M & won't have included that £1M+ order given the timelines.

They announce a lot of the smaller orders via Linkedin that are not big enough to warrant a RNS, the one from 2 days ago was probably a sale in the £100-£150K range I'd say given the info the £1M contract revealed that we didn't know beforehand.

LOTM

Hi Fredd1eboy,

The share price has already adjusted & taken account of those new shares.

I'm happy to hold & will continue to add to my holding as & when I can & will trade it on news spikes in the hope of continuing to increase it.

Bring on the next piece of good news, just look at OBD today as to what might happen with it ..........

LOTM

New post ..... https://www.linkedin.com/posts/thruvision_thruvision-is-excited-to-announce-that-our-activity-7350479234923929602-oPiW

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This latest investment builds on the strong ROI already delivered through earlier deployments. With WalkTHRU now live, Footasylum is able to screen more employees, more quickly, reducing shrink while maintaining a respectful and seamless experience for staff.

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A huge thank you to the Footasylum team for their continued trust and partnership. We’re proud to support their commitment to innovation and Loss Prevention.

LOTM

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LOTM

The News Wires are now carrying the story, so PRIM will need to issue a response to the market inside the next 24 hours.

They likely received the letter from PR1 on Friday ............... perhaps that's why there hasn't been a buy-back notice issued for Friday, ie they were possibly advised by there legal council to halt doing any more buybacks in the meantime until this matter is cleared up......... or maybe there just wasn't enough volume on Friday for them to bother doing a buyback then.

If there's selling volume today & they don't do a buyback I'd say that was very telling indeed as to the situation.

LOTM

Scottl86,

Not really, there are rules put in place for a reason, so that an orderly market can be maintained.

You can't have companies being able to break those rules just because the directors decide to do so!!

There will be repercussions from this, are the PRIM directors fit for office ?

LOTM

Hi All,

B_Positive, you might be trying to live up to your BB name, but your sadly not living in the real world. Here are 2 of your latest quotes from 10:43 today ......

"Infinite Reality sits in that SVV1 fund and is set to bring in £10m+ for Mindflair"

"I maintain 5-10p by year end."

Now where to begin, well I suppose both are linked to Napster at the end of the day, so that's where to start.

Napster has said it doesn't see itself listing until 2026 & so far there is no sign of the June dividend that was talked about or the potential ability to sell stock at $20 per share materialising anytime soon. So unless there is a potential liquidity event (non listing) in the next 5 month's there won't be any cash coming in from that avenue & the auditors have already suggested a 20% discount to the Napster share price when the valuation was $12.25B.

As for Napster bringing in £10M+ to Mindflair, well it depends over what time period your talking about, but to get to this 5-10p figure of yours, you obviously think that is going to happen in the next 6 months.

I've ran the numbers & have a pretty accurate idea of how things stand. SURE's valuation of Napster was stated at $8.3M, even if you were to double its valuation to $16.6M that works out at around £12.25M. MFAI only owns half the amount of SVV1 that SURE does.

5p with 540M shares in issue = £27M valuation, but that's simply not going to happen because those with warrants will exercise them & they'll be @630M shares in issue = £31.5M as opposed to a current NAV value of £10.75M. So 10p would be double that amount £63M.

Please get real with your posts.

LOTM

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LOTM

Poormandreaming,

The money from the sale of PR1 isn't what you think it is, the PR1 share price that will have been used in the year end accounts for the 11.xM shares was about 13.5p so the just under £1M they got is more likely a loss on book value not a profit as your imagining.

The buy-back is being funded by the cash proceeds from the PR1 sale.

A 7% difference isn't that much, MFAI or SURE for example would need 100%+ gain in there share price to reach there understated NAV's, that more in bargain league territory than a 7% swing.

Doesn't look like one of the shareholders is going to be selling there large holding anytime soon! so that might put a spanner in the directors plans

LOTM

Hi Oultonmike,

Thanks for the reply. I might actually have found a way of doing it, we'll see, will take a couple of days to set-up. i'll let you know the outcome.

LOTM

Hi 2phevs,

Yes its Rembrand that took the 20% interest in Mirriad USA.

They assume full costs for the USA business now, so every single VPP that's done now generates a profit for Mirriad.

LOTM