Member Info for MikG

It's dropped almost a £1 on the trading update news being published (worsened once it was subsequently delayed). As MA cools off on buying, folks clearly aren't buying into the notion that the results will offer anything tangible enough to keep the prices in that breakout level. No MA buying = shorters enjoying themselves & helping Mike load more cheaply.

A quick glimpse at the chart and price action helps. Folks have been well advised to place their money elsewhere.

Think of more concern is that this share seemingly requires %s of the entire stock float to be bought up to keep it afloat. We've dipped multiple percent almost every day this week and without a MA bout of buying, we get marked down on next to no volume. Hard to see a good outcome for shareholders when market makers clearly run these stocks for the benefit of the never disappearing short interest and/or MA who can acquire a huge stake in this on the open market for an every cheaper price.

Absolutley agree - this exchange servives nbody bar the funds, shorters and paid for press. To start this downward spiral on a well hidden Bloomberg piece by two analysts giving a sum of parts value triple where we are now, yet suggesting this might not be a fit for Apollo has started a 120 to 75 spiral across 5 or so trading sessions. Utter nonsense.

More panic selling into the close to print new lows. Clearly Apollo leaked news of zero intent to buy a week ago, hence I cannot understand why such incessant selling pressure would persist. Suspect if news comes Monday, at the current rate we will be lucky to be above the price pre the Apollo declaration of interest RNS.

Laughable that we've now almost entirely retraced the whole "Apollo bid" news and folks still think a massive dump is coming if they walk away. I mean it absolutely will, but how ridiculous is that? In the time since the bid news we've had Kelso, Bloomberg etc reiterate the sum of parts value, so any return to below the previously horribly undervalued market cap underscores exactly what MM says about this exchange.

Anyone looking to take a presence will want to see AM/SH's significant combined shareholding of >20% reduced. I had been shocked this hadn't happened until now, and something you often see when "activist" type holders are stake building or loitering. Given AM/SH founding status, I suspect their presence and direction over operations would be considered too much concentration of control. Lets remember that 13m shares each is cumulatively less than 10% of their 270m combined holdings. I'd expect we see more of the same as new players take control, and IMO that is necessary for bigger players to be interested in taking equity stakes.

At a time where this felt on the cusp of takeoff, with all the right press and coverage escalating, a raise is announced. Timing seems a little whiffy and Founders stepping aside further, coupled with the increased presence of the likes of Global Frontier Group, suggests a large holder will be coming in in this placing, and AM/SH are losing grip on their "baby". For holders this allows MelodyVR to get the content they need at the time they need it. This is a big positive development IMHO.

What's getting pushed further and further away The Ganfeng review delay has been and gone, factored in and RNS'd, and they are now fully back up and running having gone through the draconian measures that Western companies couldn't dream of doing. There is nothing in Sonora to indicate anything other than business as normal, no shutdowns etc so I don't know what impact to the timelines further than those expressed by the company that your envisage holding this back.

Sensible money has bought at circa 25% higher than this price, recently. We are talking Ganfeng, M&G, leaders of their sector, so I think I would be best to follow their lead on this one.

Time to stump up a couple hundred mil and take this out. This will be the future of his industry and he could get the proprietary hardware and technology straight into the theater, to the masses, without any competing distractions. You'd envisage it would be a couple of hundred million well spent by him given he clearly sees it as the future, and given what might be near term short comings for Broadway attendance, at these low ball prices, it feels like might be a perfect time to strike and offer attractive premiums to shareholders against current levels.

Mmmm, yeah. If only we had a lucrative backer in that sector who could get us transported to Broadway from our own homes.. :) Nice little thought for hopefully the very near future. Enjoy your afternoon.

Matlot, gentleman-like response.

To your defence, Bell was very convincing, with his primary strengths laying in his ability to continually tap the market to fund excessive remuneration, while servicing marginal prospects. Despite your post of recent times in defence of Magic, I do recall him being the anthesis of yourself, Dan (the man), Vinny et al back in the day. It only rings bells because I used to was engrossed with BBs at the time, whilst wetter behind the ears about them being a genuine platform for information exchange between sophisticated investors. Unfortunately as a result I lost an utter boatload on that share, being more vulnerable to believing the information that posters purported to have was more sincere than it transpired to be. Either way, the past is the past, and if nothing else, your capacity to garner a cult following has not diminished sir. The number of butt kissers already springing on me is a testament to that.

We're on the same side of the fence again, and here's to hoping it proves more fruitful this time. I certainly wouldn't want to be out of metro over the weekend.. :)

"I trust Matlot 99%"

Having joined this site as a poster on RRR, I'm all too familiar with matlot and his pie in the sky business contacts from those days. He'll no doubt remember lambasting the factual voices such as Mr Magic with his brash language and fantasist innuendos of supposed contacts in the inner circle (Bell, Jupiter etc). I remember fondly his claims of having the inside track on Kenya and other deals that everyone would be foolish to dismiss as the ramblings of a fantasist. Oh well, with nothing transpired as he eluded to, and the share price now 99.999999% down from from the prices at which he professed the next big thing was imminent, I hope history doesn't repeat itself here. His posting patterns and few loyal followers that love the confirmation bias his ramblings provide, are all too familiar.

I guess those other stocks aren't going to deramp themselves with nonsense to get a cheaper entry, are they...

As is always the case with this share, a positive is becoming a negative.

Almost incredible that the second a material buyback is in place, a massive seller (trumping the £300k buyback spend so far) has come in to suppress the price and mute any route of progress.

Market sentiment is clearly so negative that it's almost as if the market is pricing in the BOD as the sellers here into their own buyback, else I cannot fathom why it is achieving so little. This share is majorly illiquid, and almost £300k of buys (1.5% of shares in issue) and the promise of more buys to come, are generating panic selling below the bid and a major seller. You couldn't make it up, and yet with the form of this share, I'm hardly surprised.

@pudding1006 - I think you’ve got to read between the lines on this one. JGO are clearly in an accumulation and stake building phase, taking substantial holdings in the 4s and at 9p. The option priced at many multiples of today’s share price is clearly linked to an expectation they had of a buyout at a premium to the option price by year end, which would enable them to still acquire a greater stake at a cheaper price than that prevailing from any offer.

It’s pretty exciting running into the final month of year knowing they felt the need to have this option in place. An informal indication to MelodyVR that a takeout offer could arrive by year end would not be a mandatory disclosure to the markets as it would be just that, informal and non binding - and embedding options to protect a well-timed, supportive shareholder in an important raise might be considered a reasonable course of action. Especially on this market.

BBN, I appreciate your time and in no way am I saying this as a critique of your actions. To again reiterate, I am of the view that given your following and reputation on this board, to have disappeared without sight or sound would have been unsavoury. You can never please everybody, but I personally think you’ve done the most decent course of action. I will personally continue to enjoy hearing your points going forwards, especially if it’s a bear case and runs slightly different to my prevailing bias. On a couple of your points;

“What I do not like is the fact that a good many other parties have gained access to the information well before we have, and that means any further bad news will likely go the same way.”

If this makes I3E no longer an investment case, then it makes nothing on AIM an investment case. It is a market rotten to the core, as corrupt as I’ve ever seen, and one that thrives on inside information, nudges and leaks. As disgusting as Monday’s turn of events was, it an endemic flaw as opposed to an I3E specific one. If you consider the main markets a tilted deck in favour of the investor (QE, Central Bank easing, Trump tweets, market pumps), essentially anything to elevate asset prices to enhance the wealth of the investor (consumer), AIM is the antithesis of that. Everything about AIM seems designed to part the investor from their money, be it forward selling leaks, pumps and dumps etc into the coffers of the placers, placees, brokers etc. The few successful AIM operators, if honest, would concur. From what I can gather, where AIM works if you’re not in on that, is finding extreme price inefficiencies, and holding out for eventual reversion to mean.

“I may well be wrong but given the hit I have already taken here, why would I feel the need to take the further risk?”

I appreciate that, but from what I have gathered much of your risk was taken prior to any of these drills and with the share price about 2/3x higher.. forgive me if I’m off on that, as I have observed these boards as opposed to diligently following them. It again brings me back to, instead of thinking of solely the risk, at a £16m market capitalisation having hit Serenity and the inherent out of the money call option pertaining to RRE on that discovery, Liberator still not fully defined in terms of the hit though massively dampened from early expectations, what exactly is priced in? Irrespective of hits to date, if you objectively look at the company today, and its prospects, do you feel that I3E is overvalued at £16m? Markets exist by punishing investors at extremes, when their emotions take over from their head, hence the swathe of sayings around buying when there’s blood on the street, fear/greed etc etc. You seem inundated with messages, so even if you don't get back to this, thanks for your time in replying earlier.

BBN,

Your a massively respected figure on this board - and I welcome your open stance concerning your position. A question I just have to ask is, following three straight down days, the loss of circa 65% of MCAP, and being heavily oversold - why now? Are you essentially saying that at £16m market capitalistion you think I3E is overvalued?

I have no position here, but am watching intently. One thing I have learned throughout my career is turning points are often marked by the final bulls/bears capitulating, and today seems to have marked that event. I hope for holders and those looking for a new entry, this is the case. ATB.

Sounds like that would finally get the share price moo-ving.

Yeah, JGO a massive contender for any buyout, and any offer external to him would require buying out his holding. What price would he want? Well, his options suggest he sees the value in this share at many multiples of today's price, so it's unlikely any takeover would go through for a song (pardon the pun).

And as buoyant as all the forecasts and predictions are .. today's price action belies the problem and why M&G, Ganfeng et al get these shares for a song. Despite days of solid buying and muted movement, a few sells this morning and 5% is instantly shed. This erosion of share price and shareholder value remains perpetual, and has to turn at some point. I would have expected the M&G investment to put a floor under the 25 level and a springboard for a re-rate.