Member Info for MrH_m

Italian

From the admission Document (as posted before):

RE: Positive Momentum18 Mar 2021 11:44
The Company
15.1 Merger Agreement dated 24 August 2020 between: (1) the Company, (2) MelodyVR Inc.,
(3) MVR USA 2, Inc. and (2) Rhapsody
Under the terms of the Merger Agreement, a wholly-owned subsidiary of the Company will be
merged with and into Napster (with Napster being the surviving entity). The Company will
pay consideration totalling approximately $26.3 million to the vendors of Napster to be
satisfied in aggregate by $15.0 million in cash, and the issuance of approximately 200 million
MelodyVR shares. Upon completion of the Acquisition, Napster will be a wholly-owned
subsidiary of the Company.
10315.2 Lock-in and Orderly Market Agreements dated 8 December 2020 between (1) the
Company, (2) Arden and (3) each of the Locked-in Persons, other than Grant Dollens
Pursuant to the Lock-in and Orderly Market Agreements, each of the Locked-in Persons
(other than Grant Dollens) has undertaken to the Company and Arden that, subject to certain
limited exceptions, they will not dispose of Ordinary Shares held by them for a period of
12 months from the date of Admission.
Each Locked-in Person (other than Grant Dollens) has also undertaken that for the period of
12 months following the anniversary of the date of Admission, they will only dispose of
Ordinary Shares held by them on an orderly market basis through the Company’s broker
from time to time.
15.3 Orderly Market Agreement dated 8 December 2020 between (1) the Company, (2) Arden
and (3) Grant Dollens
Grant Dollens has undertaken to the Company and Arden that, subject to certain limited
exceptions, they will only dispose of Ordinary Shares held by them on an orderly market
basis through the Company’s broker from time to time for the period of 12 months from the
date of Admission.

My reading is RN are a ‘locked in party” but happy to be proved otherwise

Plus they are the second largest holders - we do well, they do well

Real Networks cannot sell for 12 months

Mel - I’m leaning towards the Melody VR account being closed down when the new app is ready, such that everything then goes into Rhapsody/ Napster. There are benefits to doing that in terms of moving bad debt and overheads into the dissolved entity. Just a hunch, based on lack of promotion of anything ‘MelodyVR’ at present

Best way to look at it is this: at the moment Napster Group PLC own RI (t/a Napster) and also Melody VR. Both are separate subsidiaries with separate accounts. My post from a few days ago posed the q when the two would merge and into whose accounts; and what would happen to the non-surviving accounts

BB - there is no reference to ‘Real Networks’. They used to own ‘Rhapsody’ who traded as ‘Napster’. We now own Rhapsody/Napster under Napster Group PLC

On one hand you think this BB has no impact whatsoever on the SP; yet on the other you seem intend on being incessantly negative. Why? It just looks like you are trying to cause investors to panic and sell, and new investors to stay away. All very odd for someone who claims to be invested. Actual investors want the sp to rise

Yes i'm only speculating what will happen post-new app, but the accounts will have to be merged somehow

We know 'Napster Group PLC" is a recent development (see Companies House and recent RNS). This must be a recent update - they could have re-issued / updated the IP Certificate to 'Napster Group PLC', but instead kept it under 'Rhapsody', which is interesting and suggests all financials will be moved under the Rhapsody accounts in due course

Agreed BB (dealing with the date bit). The copyright date will represent date of issue. This will be updated manually on updating the IP certificates

Lowie - I get how it works (its the same for my companies). The bit im interested in is:

"...a subsidiary of Napster Group PLC. All rights reserved"

That's the new bit added manually recently (to my knowledge). I'm not interested in the date

Lowie - I think It’s relevance in terms of (a) showing activity / progress; and (b) showing the split between Melody VR and Rhapsody

Clearly the boards intention at this stage is to keep Melody VR and Rhapsody as separate subsidiaries within the Napster Group with separate accounts etc. Will we merge the two subsidiaries when the new app is released, or simply close down the Melody VR subsidiary? This would explain in part the Market’s reluctance to take Melody VRs financials into account.

A few new jobs being posted for ‘Rhapsody’ working in their Seattle office too (all mentioning the RTO)

Apologies if you’ve already seen (or posted) this. Update to footer of webpage:

© 2021 Rhapsody International, Inc., a subsidiary of Napster Group PLC. All rights reserved.

...or we put our foot down re ‘lack of funds’s as you say

It’s a 12 month lockup, which suggests to me they either (a) don’t need the extra cash now; or (b) they believe they will get a higher return on the shares in 12 months. I thought RN were struggling financially so hoping it’s (b).

I’m struggling to get my head round Real Networks having the second largest holding here - what was the consideration for giving away such a high percentage, yet taking on all the running costs? The two companies must think Napster has a much more positive future with us...

This is not a dating site

Rikki’s ‘39 week point’ is a useful analysis - this take us to end Nov which would suggest a big Dec/Xmas 2021 campaign