Member Info for MrMagic

In freefall???

Yesterday LSE had this down 11.76%

Today it's showing down 13.33%

When will it stop?

Pump and dump has completely failed here imo. Some have obviously been burned buying at silly prices on the ramped hype. Now they are looking at swift losses imo. I learned long ago that it's best for me to cut my losses as soon as possible once I realise I've been muged rather than throw good money after bad trying to average down in habitual dilution AIM stocks.

No question for me that this is heading swiftly for the proposed placing price of 0.0275p or lower. I wouldn't personally pay any more than that for shares even if I believed the propsects. DYOR.

Wrong board booboo, those were RRR investors

Sells at 0.0335p now.

SP will be at the proposed placing price of 0.0275p in no time at all imo

Just can not fathom why mugs bought shares at 0.04p. Lessons learned I guess.
Never ever believe "jam tomorrow" BS ramping. Always look at the company finances, behaviours of the BOD, amounts taken in salaries and expenses and frequency of dilution. How on earth are they expecting to get 7 billion+ shares away? Just can't see it myself. DYOR

Also note the large sells yesterday. 7m, 25m, 50m . . .

Rats leaving the sinking ship imo, or in this case failed P&D. Glad I'm not one of the mugs left holding the baby here.

@Jones

You are quite right of course. Ramper uNkwn has celarly been left holding the baby after the recent and abysmally failed pump and dump here. He's also on ADVFN trying to ramp and constantly filtering the many posters there who are posting the truth. Sad to see but the AIM world will always have such people.

All the "jam tomorrow" rhetoric in the world does not and can not detract from the catastrophic news just released in the RNS that the company want to issue over 7 BILLION more shares at the bucket price of 0.0275p.

That's all that PIs need to look at imo. 0.0275p is the very maximum these shares are now worth and frankly I would think less than that. They can wrap it up in ribbons all they like but it remains the same for me personally, an attempt to reset the clock, and start all over with the dilution gravy train. 7 Billion shares to come and then the share consolidation. Rinse repeat indeed !

bluesky : "potential is there for sure"

The "jam tomorrow" notion of potential is what feeds dilution oriented directors. First establish whether the directors are taking silly salaries and if they are expending preposterous amounts on admin and other expenses. If they are, then the value in the share is being stripped away and unless there are projects generating real income, you'll just see constant dilution and fundraises to pay for those salaries and expenses ad nauseum. Gravy train, lifestyle venture etc.

When the full year report comes out here you will be able to see what the total amounts are frittered on those overheads vs the income and liabilities. DYOR

None of that really matters partridge.

The plain fact is that the company is proposing to issue over 7 BILLION shares at the bucket price of 0.0275p.

Given there are only 1.5 billion in issue currently that clearly means the VAST MAJORITY of the shares in issue will be worth nothing more than 0.0275p, the placing price. Therefore I would consider myself utterly stupid to be buying shares here at the current time when MMs are ridiculously asking 0.04p. There is no investment proposition here that I can see given the extraordinary levels of industrial dilution being proposed. It is inevitable imo that the share price will drop to the placing price of 0.0275p in no time at all so anyone who wants to punt this is surely better waiting until those shares start being issued. DYOR

SP - "I literally was prepared to lose the lot, than let things carry on, it was necessary to get RGM to change, and put a stop to the status quo."

That status quo being Bell's long established MO of constantly diluting shareholders to raise cash which then gets exposed to preposterous levels of expenditure on admin and other expenses, i.e. running the company as a lifestyle venture.

And the proposed solution to this is to issue industrial levels of shares, mass dilution in order to wipe out former shareholders, reset the clock and start the entire process all over again?!! lol

Sorry but all I see is the same status quo, it's just that a different person or set of people are perpetrating that status quo.

The mining cycles had nothing to do with the catastrophes that have played out here and at RRR. The SP devastation was a result of repeated dilution, the gravy train of ramping "jam tomorrow" possibilities in order to then get placings away to raise cash to then expend on expenses and other things that add zero shareholder value.

You're clearly well down on your investment and need to find ways to recover. Ousting Bell is of no merit whatsoever if in his place you are simply going to continue the industrial levels of dilution. This remains for me a dead horse that people are still trying desperately to flog. The latest ramp attempt has clearly failed imo. Nothing has really changed. It's still just hot air, forward looking rhetoric and gazillions of shares to be issued. Mugpunters still required to take those worthless bits of paper off placees at silly prices. GL to you but this isn't the way imo.

It must not be forgotten that this POS share has already had its nominal share value lowered from 0.1p to 0.01p and it has already had a share consolidation back at end 2015:

https://www.lse.co.uk/rns/RGM/result-of-agm-capital-reorganisation-and-tvr-tfz9p6teu1m1qw2.html

The notion that everything will suddenly change now is puerile imo. This is just rinse repeat all over again imo.

Question is are there enough mugs to pick up the billions of placing shares at prices above the placing price of 0.0275p??

I seriously doubt it.

DYOR

@JezTheFez

I take it you didn't read the RNS then !! Share consolidation is nailed on as the RNS states:

Share Consolidation:

"Following the Transaction, the Company will have 8,687,335,144 Ordinary Shares in issue, each with a nominal value of 0.01 pence. The Directors consider that it is in the best interests of the Company's long-term development as a publicly quoted company to have a smaller number of shares in issue and a higher share price.

As set out in the Notice of General Meeting Circular, shareholders will be asked to consider, and if thought fit, pass resolutions which will have the following effect: that every 100 ordinary shares of 0.01 pence on the Record Date are consolidated into one new ordinary share of 0.01 pence each, (the "Consolidation"). "

Yep roll up roll up ! 8.6 billion bucket price shares to be issued (0.0275p) and then a 100 - 1 consolidation.

You couldn't make it up.

Only possible of course if mugs can be found to buy the placing shares for more than the placing price imo.

Count me not amongst them !

FYI

Recent Half Year Report here (to end Mar 2019) stated Admin Expenses at £335,000

So double that up for a full year and you're pretty much eating away all of that £700k placing cash right there.
Shareholder value? Can't see any myself. Each to their own of course and always DYOR.

Shack22 - "How much of this will go towards staff wages. Anyone know how much PJ takes for wages and expenses?"

You'll find out in the Half Year and Full Year reports. Bell has form here as he has taken (imo) silly salaries from RRR and RGM for years and expended £millions upon £millions in admin and other expenses. They were just lifestyle ventures imo.
There's no reason for me personally to expect tings will be any different here.

Pump and dump attempt appears to have failed miserably. Watch them rush for the door now as this tanks.

It was always a hopeless task given the company is proposing to flood the shares with 7 billion more at the bucket price of 0.0275p. I'd consider myself stupid to buy shares at any price above that TBH. DYOR as always

lol Helpful. Bell up to his usual antics of course.

Pithy update RNS and then BAM with a placing. Not sure there are many mugs left to fall for it any more.

Meanwhile now only 7 working days until those £1m CLNs are due for repayment. Tick tock.

What will it be?

Dilution to raise the cash?
Pawn off more "family silver" Jupiter shares ?
Roll them on for a 3rd year thereby indicating they can't afford to pay them?

Either way it's dire for shareholders imo and will see the SP hit the 0.3p levels before end of year. DYOR

You can only laugh TBH. Classic Bell MO. Stick out a pithy forward looking update RNS and then hit the naïve mugs with a placing. All the usual woolly spiel in the RNS that followers of RRR and RGM have seen for years:

"making great progress"
"expect further updates"
"we may move ahead"
"considerable upside potential"
"it is postulated, the potential"

etc etc

Can't believe people fall for this stuff any more but each to their own.

Nothing will ever change with Bell imo, his MO is too well established now.

What happened with both RRR and RGM is the constant placings and crazy expenditure on Admin and other expenses sapped all value from the share and drove the SP down to the nominal share price of 0.1p. Bell then simply lowered the nominal share price of both companies to 0.01p so dilution could continue. He also then did share consolidations with both companies.

Here the Bid shows above at 0.35p. If the same outcome unfolds from Bell's MO then this also will sink towards its nominal share price and so we can then expect similar capital reorganisations. Rinse repeat ad nauseam. DYOR

lol barnet

So basically you're just offering "jam tomorrow" hopes and dreams, a classic pump and dump, nothing remotely tangible to base it on just "hype". And I should fall for this nonsense why exactly . . . . ? Because some other share once had a big rise

"Invest here because another company went big" is classing Ramping 101 handbook stuff.

What next?

"something brewing"
"it's like a coiled spring"
"won't stay at these levels for long"
"wouldn't want to be out of this at the weekend"

etc etc

Once again, the RNS clearly states the intention is to flood the share issue with up to 7 billion+ more shares issued at the bargain bucket price of 0.0275p. I'd consider myself a complete idiot to pay any more than that for shares here. Common sense TBH.

From the RNS:

"The Transaction Shares as a whole would, if the required resolutions are approved at the GM, result in the issuance of 7,170,440,985 Ordinary Shares,"

Shares to be issues at 0.0275p

There are only 1.5bn shares in issue today. If they are going to issue 7 billion at 0.0275p then that pretty much tells you what the shares are worth. There will also be warrants at 0.055p. These levels of confetti will only drag the SP down and keep it there. People buying at 0.04p today are imo simply naïve mugpunters believing the "jam tomorrow" hype of the boiler room P&D crews spouting "something brewing" and "10p by Friday" and all the usual BS.

Each to their own as always. 7 billion shares here is industrial scale confetti imo. If you think that's going to see the SP rise then good luck to you and fill yer boots. I'll happily pass thanks. DYOR

TDT is correct

The end result of heavy dilution and constant share issues has been seen over and over both here and at RGM. The 10yr charts of either company show the SP devastation it causes for shareholders. All that happens is unscrupulous individuals then reset the system, perform capital reorganisations like lowering the nominal share price or share consolidations (or both !) then issue gazillions of shares in order to make existing locked in holders completely inconsequential and set about rinse repeating the entire thing.

With 7 billion shares to come here and another share consolidation it certainly looks to me like a basic rinse repeat reset.

DYOR

shareguru - "the past is the past and whilst i understand alot of money was lost. this is the future."

I can't believe you kept a straight face whilst typing that nonsense. The past always remains the future when the same
people who orchestrated that past remain in position. Their Modus Operandi's are well established and never change.
One only has to look at what Bell has done with RRR and RGM to see what that MO is. The SPs of both utterly decimated
over and over and over for years with endless dilution and ridiculous expenditure on Admin and other expenses. Lifestyle ventures imo. There really can't be that many mugs left to fall for that MO imo. DYOR.

Cgull - "What happens to the CLN's if the plug is mercifully pulled?"

Well you can bet your bottom dollar that those few large investors holding close to 40% of the shares would sell the assets and run off into the sunset imo. Problem is the JMS SP has crashed and so RRR's holding is only worth about £2.2m now, it was £4m last August. I'm guessing they would likely accept transfer of the shares to themselves rather than cash them in.

It's just yet another reason for me personally to avoid these shares like the plague. Poster Helpful posted this last August:

Helpful 17 Aug 2019 - "If it has not been taken private there is a reason, as will become clear shortly. We may still take it private."
"One other large shareholder wanted us to liquidate the company last September and we said no."

So you can see that at least one large shareholder wanted to pull the plug. Who are these people? PI's surely have no clue as to what they stand for and their motives. So why would PI's invest? Does Bell actually still control the company or is it in reality now controlled by these few holders?

One thing is for sure, if they take it private then PI's could have their cash locked in here for goodness knows how long. Remember when Jupiter went private???

Of course as we have seen time and time again here, large investors come and go with their tail between their legs all the time. Last year 13% holder Daniel Sklan finally dumped his remaining shares and left some damning remarks here on LSE. You can read them here:

https://www.lse.co.uk/profiles/d_s_/

Then another 13% holder Peter Gyllenhammar began dumping his shares last Christmas and has shed shares in chunks throughout this year. He now only has just over 3% I believe. Both sensible investors for cutting their losses and getting out instead of hanging around to lose even more value. SP this time last year was over 0.6p. Today the Bid shows at 0.4p.

It is what it is. IMO just a lifestyle venture run for the personal enrichment of the BOD. That BOD has to go for this share to ever do anything. Otherwise they will just continue taking stupid salaries and expending ridiculous amounts on Admin and other expenses imo thereby destroying all shareholder value and creating the constant need for dilution.

DYOR as always