Member Info for LtdAxis

Thank you RKB. I look forward to reading your latest posts when I have time . My local farmer always says that he thinks through things three times before coming up with a reply. Notwithstanding it’s sometimes difficult to get a sensible answer out of him , it requires at least three reads through any CLP RNS to start making proper sense of the complexity here . I have been reading back through many recently but the brain doesn’t always accurately recall the exact sequence of events when we rattle off posts . So I’ll be heeding my neighbours advice and endeavour not to make statements that could be misleading, even if unintentional. It does seem clear that some bad feeling towards the old brain spark/ clp regime has lingered in the Italian system as it seems Mediapolis should never have been wound up in the first place.

I apologise . Yesterday I was tied up with some complex personal business involving taking on debt etc and the mind can overthink things. It was a distraction( for me) . RKB ‘s rational straightforward presentation of the facts is very welcome and we can then , as he has said, make our own conclusions. I will refrain from interfering ( not my intention) and posting questions until the whole picture is laid out.

The land has been quite a pivotal piece in the jigsaw touching on lots of points raised today . I have no agenda , and certainly not to keep the price low . For whatever reason it has managed to do that quite successfully without my help ;) I have a natural scepticism of figures being used to disguise the truth , although I appreciate sometimes there is a truth in the numbers that needs uncovering ...but there is a big difference between enlightenment and concealment , although I am not suggesting anyone on here has deliberately engaged in the later! Some of this may be the wrong pieces joined together, but we bought Mediapolis debt (owed to Olivett multi systems) of around €4.million at a 88% discount which included first charge on the land . This with the loan from an Idea Lives On, partly repaid with shares as discussed . Their accounts suggest they may have borrowed from elsewhere to loan us the money but that’s a separate ( but not irrelevant) story. I would ask ...how was first charge on the land linked to that debt ? Did Mediapolis already own the land and put it up as security or was it bundled up with other debt ? Why the 88% discount? Did Olivetti know the procedure and bank on getting us much from clp before the winding up went through ? Was the value of the land made artificially high in clp’s eyes ( through planning for parks that would never succeed etc) so what they thought was a discounted debt buy back was actually not ? Etc etc None of this may be true , but this is a hard game of chess with multiple opponents all with different agendas, although with the same goal: not to be holding the debt when the music stops .

I didn’t say it’s artificially high now .... but just raised the “suggestion” it might have been back at the time some of these deals were worked out . There may well have been a higher price then due to more general market optimism at the time, and a lower price now due to a general market malaise at present.....so no subterfuge , and certainly not from me .

The common assumption has been that lenders/bond holders could see the longer term value and have thus accepted conversions and payments in shares at what on paper looks unattractive to them and a good deal for CLP. But An Idea Lives On received their shares before Mediapolis was wound up and the loan was to help pay down their debts in order to head off the winding up order . So their outlook today may be a little bit different. Also, IMHO bond holders were bumped into converting by Eufingest , who didn’t convert last Dec in order to try again with the rest at a future date . So to say those bond holders that did convert did so expecting a big increase in the sp long term might not be so true ....although that’s not saying it won’t come to pass. It is true that our balance sheet is much improved , but the share price might previously have been artificially high, rather than deliberately suppressed now .

Yes, I agree that roughly half that debt was exchanged for shares (now worth 40% of the exchange value) I suppose what I’m getting at is that window dressing a companies debt position ( as we tried to with Mediapolis and are now doing with CLP itself) is only pushing the problem back down the line. Debt can be useful to help a company grow , but in the end it has to be bringing in more than is going out and all these financiers will need paying one way or another . Some material improvement through successful recovery of cash will in the end be the only way the sp will improve, and ideally with as few shares as possible in circulation.

I don’t know, but I’m assuming , the the creditor here is An Idea Lives On. So they have borrowed 500k ( possibly from one of EL’s other companies) to lend us to cancel 4.3 million of Mediapolis debt, a company that is now wound up . Presumable this was done to help prevent the winding up order taking place ...I.e keep Mediapolis afloat and ihelo CLP retain the power to cash in its assets. The other creditors are presumably quite pleased with this turn of events

Thank you RKB and glad to see you able to post again this week.

I see that our €2.9mill debt to Eufingest at current exchange is about £2.6 million, exactly our current Mcap.

I can see the good work FG has been doing in improving the balance sheet and securing loans at attractive rates for a small cap company. However until some of the cash we are trying to recover starts coming in then the bond conversions, past and future, have only served to dilute the share price by passing that debt on to shareholders.

Fairfdealer: I was only referring to Ronald the Ravens idea he might buy in at 1.775, and pointing out we are already below that! But there may have been some irony in his post that I missed. I would think it may drift lower , or be bumped up by news on Dewar. In the long run these prices may look very attractive but I would wait before adding/buying back in for now .

It’s already below if you look!!

Maybe they’ve discovered something in their own structure that needs sorting ...the player being played .

I presume you were referring to my post of Weds 5th June ( not May). I hope admin see sense and reactivate your account immediately.

They should have updated re the appeal.

Thanks Rusty. I can get a little sensitive at times! There’s virtually no scope to trade this at the moment ,but the odd 500k @0.39/0.4 to be sold at 0.45 to keep the pot boiling is ok. But I’m more worried about selling too low rather than buying . The floor seems like 0.4.

Hi Max. Maybe you should ask , who’s the seller here! Would love to see O,5p. Shame the bond conversion diluted the share price so much .

Can someone explain where they see the irony? It seems impossible to post a legitimate question on any BB these days. I have read back through 12 months of RKB’s posts ( to find the reference he made to “An Idea Lives On”). Not a single thing has come to pass .... Belief suspended ;)

I notice “An Idea Lives On” is marked as a beneficiary interest on the website . I may have missed it but I don’t remember noticing this before . I think you did elaborate on this company a while ago RKB . Are you able to say what there beneficiary interest is? Thank you .

Cluff is not just about those 2 licences though Dick. Does not Dewar have estimated recoverable oil equivalent to the gas on the 2 shell farm ins?

But historical. Things have moved on .

Good research