Member Info for mel5

At the SP it is, if an ‘A Lister’ was serious about Napster they would be wise to buy 50m shares, at 10p a share in the future it would be a wise move!!! Trouble is, I haven’t seen any A Listers talking about Napster!! IMO GLA

Given N&G are now substantial shareholders the company doesn’t have the burden of paying interest on money invested, therefore the cash burn should be as projected and the company should have funds until Q1 2022, therefore going out of business shouldn’t be in the equation.
The main question for me is the APP and the impact it will have regarding attracting new clients away from the competitor or attracting new clients, MVR was unable to attract substantial numbers of new clients it was one of the reasons for the acquisition of Napster, so for me ‘what has changed’, the board hasn’t any new directors, Emma’s profile has been mute, the PR company has proved to be as useful as a chocolate poker for the fire, therefore any promotion is relying on AM and SH, of which we know their track record. The Sonos and other contracts will organically grow the clientele, however to make an impact on the competitors and reach a ‘millions’ of new clients appears to be a huge task, I haven’t seen any signs of an ‘A lister’ such as Ed Sheeran aligning themselves to Napster or the Warner Group promoting Napster, all appears to have gone extremely quiet. IMO

Perspective

345 million Spotify users in Q4 2020, 155 subscribers

Spotify 2020 revenue at €7.8 billion ($10.8 billion), with operating loss of $581 million ($696 million)

Having completed its acquisition of streaming firm Napster, MelodyVR has published some new stats about its business. Napster ended 2020 with 5.7 million “total platform users” – a metric that includes its consumer service, as well as the other streaming services powered by its B2B platform. That’s up by 126% year-on-year: huzzah! But wait, there’s another figure… Napster’s “average monthly active users” only increased by 15% last year to 1.2 million people: just over 21% of the total user count.
Meanwhile total plays (down 2.8% to 10.5bn) and listening hours (down 6.6% to 306.5m) both fell in 2020. Still, MelodyVR is understandably focusing on the positives, which include several renewals of deals for Napster’s B2B side. Its partnership with Sonos is expanding as the latter launches its Napster-powered Sonos Radio in more countries, while Panasonic and Telefonica Germany have both renewed their Napster deals until March 2022 and December 2022 respectively.
GLA

This is the baffling part for me, Napster employees liking this news ?? IMO

https://www.prweb.com/releases/amazevr_inks_deal_to_develop_groundbreaking_vr_music_experience_for_grammy_award_winning_artist_megan_thee_stallion/prweb18116927.htm

Hi LF,
I salute your enthusiasm, for me after believing in the strategy for five years the N&G debacle and the lack of performance has put this investment in the bottom drawer, as always, you never lose on an investment until you sell at a loss, so as I’m still invested there is still a possibility of a turnaround.
As for joining the ‘Telegram group’, I appreciate its great to share information, but as long as AM is in charge there will be no transparency only conjecture, I’ll keep tabs on this board, but don’t see anything happening for another 16 - 20 weeks and maybe after the release of new Platform will we see something substantial, unless N&G sell to a company for little more than their investment, then we all lose!! IMO GLA

Great to see you back LF, I guess the question will be, who is N&G lining up to buy their shares?
80 Engineers x 35hrs per week x 50 weeks x 5 lines of tested code (per hour)= 140,000 hrs of development and 700,000 lines of code, that’s an investment, this is on top of the system knowledge already achieved by MVR and Napster! Reportedly, Google is 2 Billion lines of code, Facebook runs on 62 million lines of code and Spotify 5 million lines of code, of course the source code will be different, however to produce an APP to be extraordinarily different, Napster still have a way to go! IMO

The problem with a CEO with an ego, is they cannot see the problem, AM’s problem is that he never finishes anything, he jumps from idea to idea and sucking in people and their money! If half of what he speaks had come true, after eight years it would of happened, give it another eight years and he will explain what needs to happen! IMO

Hi CB,
I guess your rightfully aiming your comment towards me, which I accept, however having been an advocate for over 5 years, I have changed my perception of AM & SH, the company was progressing in a ‘Cash positive’ direction with in my view a sound strategy, it struggled to develop a subscription model, therefore buying Napster with a ready made model, several million subscribers made perfect sense, however they have never progressed, they have proven the technology, however not capitalise on the already established business, they have moved in a new direction which has decreased the value of the company 15x, which has proved expensive with an unknown effect. Yes we have a New App, but what else? IMO GLA

Hi DJP57,
A more balanced view perhaps, or disappointment with the board not fulfilling their promises despite the company having an experienced and industry expertise, I believe we have wasted opportunities through inexperience and not letting people perform.
As we have lost certain opportunities we have now the opportunity to produce a all encompassing ‘One Stop APP’, the most important element we are missing if ‘PR’ both with investors and the general public, if we promote ‘Napster’ with professionalism over the next four months then there is reason for optimism, if we don’t get global artists and there agents behind us we will struggle, whatever it’s a long term project to break even for LTH’s IMO

N&G have done well at 1.4p, bearing in mind JG invested at 10x the price, I can’t see any of the early investors backing out until the release of the New APP why would they throw away potential.
I would imagine the New APP is the last throw of the dice for AM & SH so they have to produce a credible product.
My problem is still the broken promises and the lack of transparency, the Admission Document laid out the strategy, however there has been mixed messages from AM, if the AGM is just a rubber stamp of the normal business it won’t provide confidence and I can see the SP dip further, along with further conversion of Loan notes I see a further decline, the development of the APP and potential hasn’t changed, it’s a case of wait and see, but with no news and a possible suspension of the shares for another big deal my confidence is low!! IMO GLA

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

Hi Croydonboys,
I have been an advocate of the former strategy and VR sales are set to ramp up again, so why is Napster going in the opposite direction ?
IMO GLA

Hi Croydonboys,
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

Hi Robidicus,
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’ll buy in at 0.5p after the AGM if we have a reshuffle of the board! IMO GLA

Down 8% this morning already, looks as though Horse will be correct 0.5p coming!! GLA

Great to be able send a message direct to AM regarding his directorship, removing him as Managing Director, looks as though further dilution in the agenda! IMO

Hi KL,
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

Great to see we can attend the AGM in person, it should give us the opportunity to vent our disappointment with our directors. IMO