RE: Cuttent Napster revenue9 Jan 2021 14:32
Hi LF,
Having read all the comments from different perspectives and having read the Admission Document several times, there has to be a realisation that a substantial amount of the shares are still owned by the directors.
Over the last few years the company has developed without debt, in a recent Job Advert AM is recognised as the Engineering Director this demonstrates a technology based company and shows the directors hadn’t developed the company to a place where they was happy to ‘let go’, this would explain why the share value was of no consequence. The Admission Document clearly sets out the future plans, the new directors are also technology based and recent partnerships are based around Napster infrastructure, the shareholder with a difference is John Gore (a perfectionist) who unless there is repeatable theatre shows which are perfect will not release to compromise his reputation. So, where does this leave MVR-Napster? I believe it will be existing and new partnerships wanting to utilise the proven venues and infrastructure of MelodyVR, in partnership as with Live Nation they will in due course run a series of virtual concerts, additional they will concentrate on more intimate and interactive experiences with artists, introducing a variety of experiences. Our ‘bread and butter’ will come from ‘Powered by Napster’ and experiences will be the ‘Jam’ until we have a library sufficient to be different from the other music streaming sites!
VR will be a growing part of the experiences, but traditional methods will prevail for the moment.
Regarding a new director, well we already have an extremely talented ‘non director’ team from high profile companies, perhaps a new addition will make a difference. IMO
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