N&G have been extremely business oriented investors, in my view the share price will be driven by the next round of conversion of loans and we can expect less than 1p, however, N&G have played this management with sheer expertise, should they bring in their own financial experts and take over the management this company could reach the potential we all expected. This comes with a huge caveat, are they here for the long term or short term? Whatever decision they make this is now a longer term investment than the 5 year strategy set out to be concluded in 2022, this is now a 2024 - 2025 investment or LTH’s get out with their loses! IMO GLA
I realise my change of direction maybe hard to follow, the company paid $70m for Napster, MelodyVR was valued at £220m when John Gore bought his shares, so roughly £270m potential value, we are now at £33m (slightly higher than yesterday), can you see the SP rising 10 fold with the launch of the New APP (5 months away), as I still have money tied up in this share, I’ll be happy to see it happen, my problem is ‘What’ is going to drive the SP to that new level? Just asking!! GLA IMO
It’s not a post that I thought I would make after 5 years of investment, however sometimes you need to research and make decisions, I am still invested, however I am not convinced AM and SH have what it takes to make the a platform for the industry, if N&G take a much larger slice of the shareholding it may changed, however it may not be what the retail shareholders were expecting. IMO GLA
I look at any investment with positivity, for me the company made a strategic move to buy Napster providing it a ‘ready made subscription model’ this complimented the VR aspect of MelodyVR, the 1000+ experiences recorded could have been released on the current MelodyVR APP, the technology has been proven, with the industry experts we had employed it was a matter of inclusion of artists and a PR campaign, with the clients of Napster there was recipe for success.
I have witness, the release of the MelodyVR APP with no PR campaign, the potential release of an HMD set with no result, many superb partnerships with little to show, a New York venue that didn’t happen, COVID-19 safe venues which have been little used, Ally-Pally used a couple of times, our experts being Joanna and Nikki never being able to use their experience, talent or knowledge, now they have left. The company employed Emmy as Chief Strategy Officer, it appears she is in hiding! The company had until the acquisition of Napster been cash positive, with steady progress, testing its product and creating a successful reputation. Since the Acquisition of Napster the company has only released videos of AM with his aspirations, the development of the new APP is proceeding with no progress being released to retail shareholders, the financials of the company don’t add up, we had sufficient funds for the development of the APP and a loan facility from a major shareholder, yet we raised finance with N&G??? The share was suspended last year at circa 5p, LTH’s investment was tied in, since then the value has declined circa 75% and we have more dilution to come resulting in the share heading for 0.5p a 10 fold decrease since the suspension.
Yes, I have different view of the management of this company!! IMO GLA
I understand your enthusiasm regarding the APP, however my reckoning is the APP is due for release in 20+ weeks time, over the last 20 weeks we have seen two news deals, extensions to existing deals and reasonable financial information released, we have also been led to believe 6 other mobile companies are interested in Napster, we have also had the CLN’s of which more are outstanding. What will be the reason the share should hold firm until the New APP is released? AM has stated MelodyVR will survive for the foreseeable future, however no investment will take place, for me ‘something’ doesn’t stack up!! GLA IMO
I agree due diligence is carried out by NED’s and the Directors of the company, however both Lancing and Mr Read don’t install confidence, Lancing has been investing in this company long enough to understand where it’s going, I still believe in the ‘product’, however lately the direction of the company and the broken promises and ‘blue sky’ thinking has taken its toll, what we need is someone ‘grounded’ who will look at the figures and concentrate on what is working!! IMO
Along with Steven H, we are in safe hands with our new FD, of course he has all the shareholders interest top of his agenda!! GLA
‘Mr. Read was a director of Concha Limited and Billion Dollar Holdings PLC, at the time of each company's voluntary liquidation. In each case there was no loss to creditors. Mr. Read is a director of QMM Holdings Limited which is currently in liquidation and there is expected to be no loss to creditors’
I also respect your view, however entrepreneurs with confidence and conviction reinvest everything into their company until it stabilises, several CEO’s have made similar statements, I agree the company has sufficient cash flow until next year, however this is about meaningful and bold statements, the decline in the share value is significant enough for the CEO to demonstrate his confidence. IMO
Please send your own version or copy and paste to firstname.lastname@example.org
Dear Anthony and Steven,
You are both directly responsible for the decline in the value of the company, the change of Financial Director is an improvement as the strategy to take the Nice & Green finance package has been a disaster.
A joint statement from you both regarding your commitment to the company through taking ‘Zero Salary’ until the company has reached pre Share Price level before the Napster acquisition would demonstrate your confidence in the company’s future.
I look forward to hearing from you, indirectly through an RNS.
A perfect moment for the new APP to coincide with a fair payment scheme! IMO
By no means do I mean to knock the potential of a company with a strategy and communications department that conveys sufficient information to maintain confidence in a company. The sad fact is we have management with contempt for the very ‘enablers’ of the company! IMO
You are correct, I have changed my opinion of the company based on recent non-events and the poor communications of the company.
I always based my opinion on my own research and knowledge, I do believe a company with a multi platform APP with the right direction will be successful. All the ingredients for a successful Music Entertainment company was within the grasp of Napster.
However, the only communications the shareholders have received is the ‘aspirations’ of a dysfunctional leader, the MelodyVR product has partnerships, but no new material has been released in 6 months, despite having two major partnerships, there is a 1000+ experiences in the library, but nothing has been released, we have NO new events advertised, despite having COVID-19 approved recording facilities we are doing nothing with them, we have 80+ developers working on the new APP but no mention of a Beta release, there is No mention of the ‘theatre’ only music, understandable that we have no new material however it was part of (pre Napster) strategy.
Regarding Napster, there have been a few extensions of partnerships, however since Singtel no new clients, only within the ‘aspirations of AM’! All in All the retail shareholders are being treated with contempt, this is a risky strategy.
Emmy has joined the company, however she hasn’t made any real visible progress.
The city investor has no real interest as there are no communications from the company, IR company or broker. With 1.6p being the current devaluation, I have no information to argue the share price will not achieve 1p.
The above is the reasoning for a re-evaluation of my investment..GLA IMO