Member Info for Millertime

I have sent a couple of emails to Ivan and Barry, at the address on the website, over the past couple of weeks and received no reply, has anyone else had any luck getting in touch with the BoD?

Considering the the firm's website states that 89.53% of shares are not in public hands I find the volume traded since the announcement of the conversion a little hard to fathom

In general loan note conversions shouldn't necessarily be seen as a bad thing as it shows that the holders would rather take the more risky option and therefore have increased faith in the company in exchange for higher rewards. The conversion itself shouldn't affect the price too much with each share being worth the following after the conversion ((SP x 990)+(0.1 x 100))/1090 I think in this case the issue is that the sheer scale of the additional shares that are being created (circa 10%). INC has been a fairly thinly traded stock and the new issues have flooded, which can be seen by the SP trading at a discount to the conversion price so soon after the conversion. If someone is willing to give up a loan to convert at 0.1p the current share price should look attractive to others and it will just take time for the extra amount of shares to be absorbed. Medium term this should be ok and go above the recent conversion price with an additional spike once the $300k is received. Longer term is more a matter for the BoD who should answer a number of the good points raised on this board.

unless you know that you are expecting shares at 0.1 and have tried to pre sell them in the market an in doing so have reduced the price, albeit your overall average would have been above 0.1 and you would have made a quick profit compared with holding the debt. It is worth noting that this is illegal if proven! This would also explain the amount of sudden liquidity for a prevously thinkly traded stock

Atalanta, please let us know if you hear anything back on your questions.

Good digging PF, I certainly think the BOD should be clear on the legacy arrangements / holdings as well as those instigated more recently by Ivan

There have been some very large lots looking to sell. I wouldn't be surprised if these were by the owners of the loan note that was recently converted.

So the Melken investment in the RNS could be Merico?

Ivan said that annual operating costs are £250k, so that eats up the money from the first contract. The value is in potential for future deals, which would have minimal incremental overheads + assets (stakes they have bought in Canadian firms) - loans outstanding + 500k value of an aim listed shell Whichever way you look at it, at £1m it Is almost a free option on future contracts

Good to see an improvement in the NAV, with OXS and FOGL leading the way.

Just rewatched the ShareProphets presentation, unfortunately Ivan didn't come over any better the second time. It's a shame that Barry didn't get a turn to speak. Has anyone found a decent explanation of PPP? Until this is clearer I believe that there are too many question marks around the company.

Given the recent fall, an RNS from the company would be much appreciated to put PI's mind at rest.

You look to be spot on broker

2 points on this I think. 1. The assets listed are assets under management and therefore they will earn fees as a proportion of these assets, which may be a fraction of a %. There are a couple of RNS's that show the amounts raised to invest in other firms as £250k in November and £60k in July, unless we are told otherwise I would assume that they are held as cost. 2. Looking at the date of the RNS's I can only assume that they were made after the last set of financials and will be included in the next published set.

Ivan eluded to ongoing discussions at the SP talk but was very wary about saying anything as he has been burnt by the delay on the 300k order. I would be surprised if going forward any deal is announced it is 100% confirmed.

Hi all, Long time lurker, first time poster. I was at the evnt last night (asked a number of questions about Americo in the Q&A) and followed up with some more details later with Ivan. Turns out the company owns close to 20% of Americo, which surprises me as I hadn't found reference to it before and given the size of Americo would represent a good chunk of the INC assets (http://www.americo.com/Who%20We%20Are/Pages/Profile.aspx). I can't say I was completely sold on PP but the Americo holding has won me round MT