Member Info for LtdAxis

Farewell for a while RKB. It’s been interesting!
Predictions for when you return.....
Formal legal action has been launched to recover money due ( but not paid) from the land auction.
Eufingest bundles and rolls over loans due until 31 March 2020
FG resigns by November
Suspended, de-listed game over ....

Just to add RKB, I totally stand by my posts on the "other share". It's just that...another share. Completely unrelated to this share. You yourself also post on other shares which may have similarities or may not.

RKB: What I post on another share has nothing to do with here .
Today I simply posted 3 quotes from the latest CLP business update with a sprinkling of my own opinion . I wouldn’t accuse you of deliberately misleading as others have suggested. I don’t think that’s the case . What is the case is the company is moving away from debt buy back and cash recovery, as despite what has been achieved , it is proving much more difficult and expensive than envisaged. I quote again,
“In the past six months the Company has moved away from expending all its energy in legal confrontations to repossess its legacy real estate and leisure assets and undertaking complex negotiations to repay debt at substantial discounts. While these tasks remain an essential part of the board’s duties, past success in these areas have freed up the board to explore new opportunities, primarily in advanced technology areas.”

The trouble is the legacy real estate and cash recoveries have been central to your narrative on the value in investing here , which many have followed blindly . In some ways you can say CLP have just been unlucky and fallen foul of opponents bent on thwarting them wherever possible.
One can only hope the new direction into advanced technologies is more successful than the debacle with 64bit.

"Furthermore, the board confirms that CL2017’s first charge relates only to the Mediapolis land and therefore gives right only to the associated sale proceeds. The charge does not include any seniority rights on the Sardinia Villas. Hence, the Company does not expect to receive any proceeds from the sale of the Villas."

They don't mention the cash in account previously assumed (by some) to be used to top up the money incoming (eventually) on the land to the full 1st charge amount . Presumably there are no other assets(other than the villas) that can be sold to go against the €8m+ unsecured creditor position, and thus one can see, as suspected, why the previous creditors were so happy to have their debt cleared at such a discount. They weren't going to get anything once Mediapolis was wound up......

RKB:
On the land:
"Despite the Company’s requests for the transfer of the proceeds from the sale, it has not yet received a formal response. The Company is now taking strong legal steps to obtain the sale proceeds funds. The Company will update the market as soon as practicable."

On Ondaland:
"Therefore, at this time, the board cannot predict the timing of the legal outcome, or whether Clear Leisure will be recognised as a major shareholder in Ondaland, or whether Sipiem will be awarded a cash settlement."

Both from the companies latest business update.

Confidence?

i would say the company is in quite a critical position. No other company will want to take over whilst there is ongoing litigation. It’s increasingly hard to see where any positive outcome will appear from .

‘Chose a ‘ !

Maybe try posting on the relevant BBs.
CLP doesn’t currently mine crypto , although we do have a second hand unit for sale . But you’re right....if you want to invest in this sector chiseca company actually properly engaged in the business . I’ve always been a little sceptical why CLP got involved in crypto .

Maybe CLP can find a country with the right sized plug for the mining unit ;)

Our NAV from the last accounts was 1.9m= about 0.3p, but presumably that would include the money from the land which unbelievably, despite being awarded after the auction and stated in CL17s accounts a year or two ago has yet to materialise. That on it's own would have been our market cap, but as we have lots of debt and no immediate prospect of any money coming in then its not a surprise that we are only valued by the market at 1million. A positive outcome somewhere could change that rapidly, but a continuation of the long drawn out process of sucking blood from a. stone could see the SP slip even further...although its plain to see there's not much further to go.

It was a £15 million raise Edward, but I think we get your point. Why not go away and come back when its 1p. That way we'll never see you again :)

Presumably you’re not invested here Edward . I think LTH’s are well aware of the time frames involved and the overall risk. But I t’s a much stabler environment to invest here right now on the known facts and with work progressing as planned than in the AIM casino that comes to town on the expectation of news.
It’s clear shares are being quietly accumulated and I have added 0.75m at around 1.45p in recent days . It may drift lower, which may be what your after, and I’m sure it’s unlikely to break above 2p for a while but I’m happy to sit on my decision for a good while .
I agree with Dickupham that the dilution means the overall rewards will be less , but striking oil or gas on any one of the three main prospects , even if a year or two away will likely make many regret they didn’t buy at these prices and tuck them away for the future .

I agree that if T-20 traders want to take that risk that’s their problem . I also think there was a slight overreaction in price as most of the negatives were fairly well known or anticipated e.g the villas.
However, being no further on with Ondaland is a disappointment, and whilst in the long run new ventures such as geosim and PBV could bring rewards , this last few years here have been built around getting cash returns through legal action and reorganising debt . By starting to move away from that strategy and half throwing in the towel is, IMHO, abandoning where most people saw any real tangible value here .

I can confirm I’m not Chumba’s wife. That I do know ;)

After all this time this...
“Therefore, at this time, the board cannot predict the timing of the legal outcome, or whether Clear Leisure will be recognised as a major shareholder in Ondaland, or whether Sipiem will be awarded a cash settlement.”

If PB monitor has performance related tables on law firms surely CLPs legal team will rank near the bottom .

Oneknows: Over the years I have raised questions over the whole Mediapolis fiasco which was portrayed as a win win. I didn't believe it would end up as bad as it has, but I will always end up being put in the negative comment/own agenda camp just for raising legitimate questions, regardless of whether I'm holding or not. I don't always get it right by any means, but you can learn more by asking questions and seeing how people respond, not least about their own agendas.
I do hold because the current share price is not reflective of where it will be if there is a favourable settlement and cash recovery elsewhere...BUT the lack of market updates from the company has drained a good deal of sentiment, and the basic fact is that this company has run up cumulative losses of over 55million euro, still has a substantial amount of debt despite some adept reworking, and has a way to go on the potential cash recoveries. It also has no income stream.
But one bit of good news and that could all change.

Its actually astounding that the company , over a long period, has not updated shareholders on the fact that title to the villas remained with the bank(s) and despite gaining first charge on the land through some of the debt buy back, as the bank(s) have, from the look of it, not added themselves to the unsecured creditors list in the winding up process, then one of the key and perhaps only other assets Mediapolis had, after the land, is now beyond the reach of that process.
It definitely should have been a known fact the last few years, and whilst it now looks embarrassingly obvious that the villas had 'disappeared ', the company has been complicit in allowing the idea to run that there was still some value to be obtained beyond the sale of the land...which was also a stitch up.

Who knows who that might be ;)

Thanks Timmit, I would have thought it was market sensitive news as there has been a clear suggestion that the company would eventually benefit from the sale of the villas through the wind up process , which now looks unlikely . Perhaps it was glaringly obvious all along and we all missed it !