Member Info for Mooney111

You're welcome right whatshare in that it raises more questions in than it answers. And horsegob is right in that it's all speculative.

I'm not sure whether it's a positive that they're leaving more open to speculation or whether they're lacking clear direction. The app itself you would say is clear direction as is user numbers but the retention of the MVR brand is a curve ball. Is it manipulative to allow fuel the speculation and try and generate excitement or AM with his little toy that is this business . I would certainly hope for theatre as the brand name fits this content I think, but after the last 18months I certainly don't have any confidence in speculating about what may come. Blockchain and NFTs etc seems like a bit of speculative jump too when they're not managing to control or deliver on their current targets. And the absence of any confidence in VR now seems a bit odd. Why drop or abandon one element of new technology which is likely to be on the verge of a bigger user uptake with 5g, but then speculate over possibilities with something that's likely to add less value to the business and increase overheads ( merchandise is a way to improve margins but monetising merchandise via alternative means appears to an unnecessary leap). The more I think about it the more it comes across as disjointed which I find disheartening today.

And regarding partners, I think historically they've leaned too much on partners a need to follow through being being a 'nimble business' and deliver the current business plan effectively first.

GLA.

Thanks WhatShares really appreciated.

Not much to get excited about there is there.

Thanks for the frank response Mel. Much appreciated.

This kinda hits the nail on the head too with regards to the admission document - in that they have stated about how things are planned to be rolled out 6 months ahead of time and then provided no further update. And i think its a sh*t.

Lets hope Equitory continue to exert greater influence on this front and AM livens up a bit.

GLA

Good Morning Italian

I'm guessing there's be a time period otherwise technically it'd be open ended to ever pay the money back too? Assuming the 12 months is the period but as you say its certainly not expressly clear and is the type of thing that should be clear. This is where i think it's unacceptable that they continue in this manner and if i'm honest i don't think it'll change until their collar is felt by the FCA or similar or they're getting it in the neck frequently about it. Not suggesting that FCA is applicable here, but they're definitely doing whatever they want regarding this stuff and filling minimal level of obligation rather than consider investor communications as important detail. And Equitory at this point have proven little value from this perspective as accuracy of RNS's has certainly not improved since their onboarding. Their role appears to be more promotion side of things which is obviously very important in pulling the SP up and sustaining it. But it is different. Just seems craziness because they seem like easy wins to me to encourage people to trust and invest.

GLA

Thanks Mel

this is where the disconnect exists though i think. Emmy lovell will no doubt have a strategy thats being rolled out now and this is not necessarily what i'd be expecting from Napster as this is the sort of stuff which i do believe would be sensitive to competition. But communications to investors remain poor IMO and even if its argued that the practive investor interview and the Music Week interviews are good PR - its not investor communications and shouldnt be dressed up as so - even if it does help entice new investors which the interview appeared to be at least partially successful with.

May i ask what their reasonable response entailed? Explanation or justifications of their approach has been extremely hard to come by in my communications with them.

GLA

and for the record I do believe the bottom is here / almost here (been wrong on this several times though). But i still expect the company to be accountable for what they're saying. I don't think lending an additional £1.5m and releasing all £8m at an accelerated rate is acceptable to do without providing any explanation as to why to shareholders. just like i do not think its OK to hide things that are not competitor sensitive such as what capex savings have been achieved.

Same as usual for me here. Long term supporter and significantly increased my holding over recent weeks but short term i continue to be highly frustrated.

Croydonboys - All of the CLN value due to released to Napster by June - approx £1.5m per month across april/may/june. Good news that this is due to be completed quickly. Pretty sure they have the rest of the year to choose whether to convert to shares or not but not entirely sure on this one. Need to go back over the original CLN RNS as apparently the original terms remained the same? Sorry might have made it more messy here.

GLA.

Hi Mel

May i ask what emails were responded to for you? I have sent several and anything remotely tricky to answer they have completely ignored. Hoping that you've managed to be more persuasive than myself to convince Napster/Equitory to provide answers.

GLA

And we still appear to be trying to go below 2. Jesus! I hope this interview in music week turns up some good info

GLA

Napster and equitory appear to be avoiding all communication now, unless it's just me being ignored.....

GLA

Need an activist shareholder to start giving the rest of em some **** Id take up the role if I wasn't such a peasant shareholder lol

Hey lord.

Been a while and hope you're well. You're right it is the only thing that's going to change the sentiment here, and also you're right the nasty conversations and personal attacks are not necessary. It's ironic really because the negativity drives me crackers but being honest with myself too, there's nowhere else to go to rant with anyone who knows what you're talking about when you feel you need to vent. Wish I had your and Mel's calm surrounding this but I just don't lol. I feel like I keep waiting for the machine to kick and then it just doesn't. Almost wishing away time so I don't drive myself mad over it.
GLA

Appreciate that but It is complete bullsh*t thugh that the company has borrowed more money, and added the possibility of more and significant dilution without explanation. How the hell is that acceptable to not communicate that to investors?

Especially when the board continues to be complicit in the decemation of the shareprice by the absence of communication.

GLA

I think my comments are being taken out of context here. I have genuinely topped up significantly because i do believe whats coming is going to be good. I'm just very frustrated with the lack of direct and concise communication to investors.

Everything is always a little too far in the future for my liking. I can get on board with waiting long term and indeed am on board for long term because there's a plan there. the problem is not delivering the first step of the long term plan, and not communicating about it as important details continue to fall by the wayside - such as the lansing davis board appointment, such as sharing the information about what the capex savings are, such as why 02 are doing deals with competitors for what should be our bread and butter as an existing partner. It's just an unnecessarily painful journey. I went back over all the previous spikes in price and all were circa 5-12 weeks of explosive upside so this is very much what i'm expecting when it does take-off - and i'm very much looking forward to it. i'm just getting very impatient because of the continued downward pressure and absolutely bugger all being done by the management team to stop it. Every 1/2p down we go is 1/2p which will be stolen from the upside when it does take off. and i know i never thought we'd be down at these lowly prices, let alone still see downward pressure. I would also rather that they don't wait until annual results just for them to sling a negative curveball in there and take all the wind out of the upside until the app is released, and subsequently put a lid on the upside for another 4-6months.

Good luck to us all. Lets just hope they pull it out the bag sooner rather than later.

GLA

Hi DJP57

again i agree that it needs to be right, however as most people here have experienced there are those that are paralysed by attempting to deliver perfection and therefore do not deliver anything at all. In the scheme of things starting the PR campaign now or not is not necessarily a big thing at all, but its the fact that we're provided with such little information and then that information is ignored or buried under the carpet with no explanation.

Acceleration would be what we're all hoping for, and potentially they've not declared this to attain first mover advantage with an additional couple of months of advantage over competitors.

I think its worth re-reading the operational update again as we're now a month down the line with no further information, and in that knowledge - see how much actual information is in the operational update. almost bugger all. Why would they be waiting before releasing information such as what the 'significant capex savings' have been achieved. What advantage could this possibly provide to withhold this information? Maybe i'm being Naïve here but this kind of thing is what angers me. I cannot see any business case for not providing this information - yet they refuse to provide it. Despite things like this being an easy win to drop out an RNS on this and help support the share price. I'm aware that they're not obliged to do this, but why wouldn't they?

and sorry for repeating myself but again a large amount of this is probably attributed to me believing that the communication would improve. More fool me

GLA

hi Italian

again this is another important point. I personally do not believe this is a 6 month task. There must have been more too it otherwise it wouldnt have left it in the admission document as loose as it was. However - its not insignificant by a long shot. Just more rubbish commuication

GLA

hi Mel

I completely agree and have therefore added to my holding significantly as the priced has dropped but i find myself highly frustrated - probably mostly with believing the rubbish that we get told. Between equitory being on board, the sketchy communication still, and the fact that now on top of everything else - the admission document which lays out the roadmap appears to be delayed or changed on the basis that the marketing campaign to refamiliarise the consumer with the napster brand has not started in may (yet) and there continues to be no comms which details what the hell is going in. Their operational update was effectively nonsense because it offered no new information that other RNS's hadnt detailed and also provided no information of what the comapny are doing operationally, only what they are not (i.e not marketing MVR). And all the while, things like the O2 combined concert experience is now taking place with competitors instead of us (regardless of how big or small). They keep talking about the leverage that all our partners have for pushing the brand but there comes a point when the company need to do some legwork themselves. Although not officially annoucend anywhere the trend at the moment has been that we make great in-roads with big names but then nothing comes of it - i.e. facebook, O2, )2/LiveNation. Complete an utter speculation on my part but the fear is that without anyone really pushing this from Napster perspective, we will lose more great opportunities. Yes i appreciate that the tech side of the industry needs to mature and this has no doubt had a big influence on past uptake, but this should be even more reason that things like 02's immersive combined concert experience is something that we should have been involved in. Thats what we're aiming for? why is that not an easy win with a huge partner for us?? That should be bread and butter money for very little work and an opportunity to expand and improve on everything that's been learned through the various concerts put on with LiveNation.

Apologies for the rant. As i say, i've increased my holding significantly because i believe in the fundamentals and what is to come. But frustration is definitely getting the better of me today because of continued sh*it communication. and the biggest problem i have with it, is that i think its nothing other than lazy and very much doubt it has much strategic purpose despite that being the obvious argument.

GLA

Was thinking the same thing this morning. Music defo got me going though haha

Some big numbers flying about today on both buy and sell side!

Hi Italian. RE discussions about Invesco going from 2.6% to 5, I've had a response. Turns out no TR1 was issued and Invesco never submitted anything to Napster.

Supposedly Napster have no obligation other than to report what gets issued to them (investor responsibility to notify Napster as applicable), but this all sounds very wooly to me.

What do you think?

Hi Mel, certainly good news of increasing institutional investment Today's announcement was for a reduction in voting rights as a % due to the issue of new shares (presumably nice and greens) but when did Invesco go from a 2.6% shareholder to 4.88% (5% before today's RNS). Surely that should have been subject to a TR1?