Member Info for MrMagic

2.5m sold for 0.8p

Placees settling for break even?

125m shares have just been issued at 0.8p. Can't imagine there are many who want to buy shares here higher than that price, you'd surely just be giving the placees a quick flip easy profit.

On top of that there are £830,000 worth of outstanding Convertible Loan Notes (plus interest at 12%pa) which can be converted at 0.6p. Deadline for conversion is 19th December. Another reason for me personally not to buy above 0.6p.
Each to their own of course

DYOR

Helpful - "You were saying a few weeks back that RRR was going to write off DRC and once again you were wrong."

Did I? where did I say that? More made up lies from you? . . .

A rather desperate RNS presumably aimed at trying to drum up some interest to help get the placing shares away.

Basically, hey folks, look at these "latest kid on the block" projects. Don't worry about all the other stuff that's just . . . . irrelevant. Nothing to see there, just past failures, lots of them . . but they're not important :

Greenland sold off for £1
Ivory Coast gone nowhere
Shoats Creek written off
Steelmin gone bust
DBar oil, Candy Sweets, Cloud Computing . . . . . etc etc

No nothing to see here. Just focus on the latest carrot dangling POS and buy the god damn shares will you?!!

Thanks AB but no thanks. It's for me nothing but a pure lifestyle venture for your personal enrichment and I'm not contributing thanks. SOoooooooo many better and more decent shares out there to go at. Shares where the BOD actually RNS key loans, transactions and events.

DYOR

Bid above now showing 0.65p. This looks to be plummeting down to the 0.6p levels imo which of course is the price at which the £830,000 worth of outstanding Convertible Loan Notes can be converted (plus interest at 12%pa). Deadline for conversion is 19th December.

I estimate that conversion would result in some 150m shares being created.

I personally can't see why anyone would want to pay more than 0.6p for shares here because of that.

DYOR

lol

When in doubt just post up another facile meaningless ****ter link. Unbelievable.

This is going down. Get those CLNs converted whilst you still can. 0.6p beckons

SP has already sunk well below the recent £1m placing price of 0.8p

Can only suspect that the SP is now heading to the 0.6p levels which is of course the conversion price for the
£830,000 outstanding Convertible Loan Notes (plus interest). Those CLNs are due for conversion by 19th Dec.

DYOR

You have to wonder what the CLN holders are thinking right now. They could have converted at 0.6p and sold the shares for a substantial profit but now the SP is on the way back down to that conversion price. Do they convert now whilst they still have chance of a profit, albeit a much smaller one? Or do they keep holding on in the vain hope the SP will rise again between now and the conversion deadline date of 19th Dec ???

Problem is that imo Bell is likely to issue more confetti. Discretion might be the better part of valour in this instance.

Diveonin - "The entertainment/events/tourism industry is in the toilet and frankly the government don't give a toss. We are 'unviable'"

Yes I agree. I imagine a part of that is because many cruise lines are based in off-shore tax havens. All is ok when the going is good, but when times are bad, you don't have governments clamouring to bail you out as they might do with banks, building societies and home institutions. I guess it's a case of "yer pays yer money and takes yer chance".

ThriftyGirl - "the cruise lines need to be prepared for the risk of a covid case on board . . . . even if it is a false positive etc it is absolutely essential to reassure passengers"

Again I honestly think they are barking up the wrong tree. I'm not remotely concerned about someone getting Covid on-board any more than I am concerned about someone getting Flu or Norovirus. I'd happily take my chances tomorrow on a ship no question if that were the only worry. I think most cruisers would be the same. What cruisers want to be reassured about is that they won't get locked up in their cabins like cattle when there are cases on-board and have their holiday ruined with endless delays, endless swab tests, ports refusing entry and so on. The cruise lines are putting all their focus on hygiene and avoidance of liability and doing what they can to prevent any cases appearing on-board. Not unlike an airline does all it can to ensure there won't be a technical fault that will make the plane drop out of the sky. But what passengers want is concrete assurance of what will happen when there ARE cases of Covid on-board. That remains the unknown quantity and the vital factor that cruise lines keep trying to sweep under the carpet. The issue is not going to go away. They have to face up to it and be candid with passengers if they want custom back.

They need to tell passengers at what point will they quarantine all passengers to their cabins? How many cases do there have to be for that to happen? The current ships sailing are simply not remotely representative of normal cruising. They are mostly 3 day to 7 day trips and we all know that Covid symptoms don't appear for at least 5-7 days so they're avoiding risking outbreaks on-board by that short itinerary. Let them try some 14nt-19nt cruises and then we'll see how realistic things are.

The £1m placing has clearly killed the SP here. 125m shares at 0.8p.

Can't imagine many will want to buy shares above that price to give placees a quick flip profit at their expense.

Problem is there are also £830,000 worth of Convertible Loan Notes plus interest at 12% pa sat waiting to be converted at the even lower price of 0.6p. I estimate that would generate another 150m shares or so, but worth checking.

So again, who is going to want to buy above 0.6p and give the CLN holders an easy profit if/when they convert?

Placing plus CLNs will simply drag the SP down to 0.6p levels imo.

Aside from that there are warrants sat at 0.9p and more at 1.2p which imo will hold the SP back in the future.

So it's going nowhere fast and with so many better shares out there right now I can see no reason to punt this lifestyle outfit.

DYOR

Alyhels - "That's a good sight out with the old in with the new, this will be booming after consolidation "

Good grief it's surely comedy hour again. Do you get paid to post this nonsense?!!

The industry is in dire straits. Haemorrhaging vast sums of money every month. Cruise lines are currently unable to offer any kind of normal cruise experience and have now resorted to inventing a completely different type of experience which removes most of the aspects of cruising that most people love. Almost a glorified ferry service with the restriction that you can't get off at the destination without paying the cruise line lots of cash and taking their own restricted excursions.

Cruising as an entity is currently dead imo. It's not going to return any time soon. It will be at least a year if not longer imo. As a result the share prices of cruise lines are only going to keep tanking as more and more of those vast sums of cash seep away every month. Ships are being ditched, scrapped, sold off and soon enough entire cruise lines will get ditched imo. Cruising will get totally whittled down to a very small number of lines and small fleets and will become again the holiday of the extremely rich. Your continual need to keep trying to polish the t*rd and try and put ridiculous slants on everything are telling. There will be more lockdown measures, not less, and the bad news regarding Christmas will imo be publicised soon and the chaos of flu season will hit soon too. Nothing is going to change any time soon, most certainly not this year. Holding shares for any significant amount of time at the moment is a perilous proposition.

Cineworld have just announced they are closing down all their 536 Regal theatres in the US and their 127 Cineworld and Picturehouse theatres in the UK. That's how bad things are projected to be. The share price is down 35% so far today on that news. The boards were likewise full of unscrupulous pundits telling people all was well and that its a great "buying" opportunity. Shame on them, but it's a cut-throat world. They make money at our expense unless we get savvy to the BS. SP here will be a fraction of what it is today when we get to 2021 imo and the announcement of a vaccine is not going to change matters because all the draconian restrictions will still be required.

DYOR

botbot - "Most of the time now I do not get off the ship. . . . .Seasoned cruisers do not care about getting off at ports"

Desperate stuff Botbot, and largely nonsense. Sure, I sometimes choose not to get off a ship at certain ports, perhaps because there are too many ships in port or the weather is poor or we just can't be bothered. But those instances are few and far between for us and for the majority of cruisers. We cruise to visit places and be FREE to get off, wander around, visit local shops, sit in a café, have a drink or meal in a local restaurant, walk along a promenade, buy souvenirs, take a river trip, stroll around a park, watch the world go by and so on. We cruise to meet lots of different people, particularly at evening dinner, to have a relaxing 2-3 week break chilling inside or outside.

What is currently being offered by the few cruise lines desperately trying to restart cruising early is not cruising. It's a prison camp with limited freedoms. No getting off the ship without paying for a ship excursion, mask wearing indoors, no mixing at dinner unless you're a party, 4 to a lift, etc etc. It's a nonsense. But one can see perfectly what they are trying to do so desperately and why they need to. Bums in cabins is the bottom line. Unfortunately they largely miss the point.
All their draconian measures and actions are centred around avoiding liability and making things as safe as possible.
However the truth is that most cruisers are not remotely worried about COVID. The majority would happily step on-board a ship tomorrow and take their chances with catching it, just as they have stepped on-board 100s of times before knowing they will take their chances with Flu or Norovirus or any of a wide number of nasty viruses and bacterial infections that regularly frequent cruise ships. COVID is not the issue. Being locked up on-board is the issue, being treated as cattle is the issue, being subjected to draconian measures is the issue, not being free to visit foreign ports, cities and towns is the issue.
Stock promoters and cruise line promoters can wax lyrical all they like about the ships that are currently sailing. The core cruising fraternity is not fooled or convinced. They know that for the moment, cruising is dead, that the wonderful holidays they previously enjoyed are very much over and won't return for at least another year. The share price here is only going South as with all cruise lines. By all means keep scraping the 5%-10%s swings along the way.

The current handful of cruises that are currently sailing are not imo remotely representative of the wider cruising community. There will always be a tiny few willing to try anything but to imagine that those people represent the bread and butter cruising market is sheer folly. You can read reviews of people currently on-board some of these cruises. They look like ghost ships, with only about 35% capacity being used. Mask wearing inside the ship except in bars/restaurants. Lifts limited to only 4 people, no-one allowed to get off the ship and wander around local towns/cities, you must take ship excursions to get off and so on. It's not cruising, it's something else and there's just no way the majority of regular cruisers would set foot on a ship under those limitations.

Lots of people do still want to cruise, unquestionably, but they want the freedoms they have always had and an end to the ridiculous over-hyping of this virus. However that's not going to happen any time soon so cruising is going nowhere for the foreseeable. These "test" cruises will obviously continue and do their best to convince people all is well, but it's just a nonsense. Come back in a year's time and see where things stand. Meanwhile the share prices of cruise lines will only plummet further as the companies continue to haemorrhage enormous sums of money every month.

I agree PO

I think that group of investors have purpose and I don't personally trust them one iota. This is what Helpful posted here last year:

"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."

This kind of stuff makes it unclear who is actually running the company. Is it Bell and the BOD or do these investors actually call the shots or is there some kind of symbiotic relationship going on?

Either way it makes the share uninvestable for me personally. Why would you want to risk money here with that kind of threat and baggage hanging over it let alone all the dilution, the ridiculous lifestyle business model and the endless trail of failed projects and ventures?

DYOR

lol, but people have been saying the same thing for the past 10 years. "If he doesn't deliver this year he should go".

Year on year he stays in position along with the rest of the BOD. As a result the same tired old business model perpetuates which involves endless dilution of shareholders to raise cash, much of which just gets spent on salaries, admin and expenses. To be honest they should be removed purely on the recent appalling trend of failing to RNS key loans, transactions and events imo let alone the abysmal track record of failed ventures.

It is not going to change here unless and until the BOD are removed imo

DYOR

Gotham - "BELL Life style company..promises lots delivers nothing. Nick name in the city is calamity Bell."

Hard to disagree TBH. Company was incorporated in 2004 so Bell has had years and years to try and make it a self-sustaining profitable company. But the amounts of dilution have been horrendous and most of the cash raised has simply been frittered on salaries, admin and expenses. £16m+ cash raised since 2012 and over £12m went to admin and expenses.
So yes I tend to agree, that is pretty much the definition of a lifestyle venture. It's extraordinary that some still punt it thinking anything will change imo.

I agree, ships could well end up being used as floating static hotels or casinos in places like China, Hong Kong and Dubai. I would guess that foreign interests see cruise lines in difficulty and start eyeing up the choicer assets , wait until the last moment and then cherry pick the lucrative bits they want from a company and buy them for a pittance. I guess it's a case of watching to see if Carnival shed more ships. I suspect they will.

So there are 125 million shares coming at 0.8p from the confetti dilution

Then there are approx. 150 million more shares to come at 0.6p when the holders of the £830,000 worth of CLNs convert

Then there are load of spivvy warrants sitting at 0.9p, future dilution waiting to happen if the SP rises

And another bunch of spivvy warrants sitting at 1.2p

Plus Bell needs far more than the £1 million he's just raised so more confetti placings are for me personally a nailed on certainty

And in the background Bell appears to be pawning off the valuable Jupiter shares without RNSing it

It is for me a total sucker share and I'm pleased to say I am not one of the suckers who will give the placees a quick easy flip profit.

Nothing will ever change here whilst Bell and the BOD remain imo

DYOR

Alyhels : "Hold your shares (IMO) this will go one way when no sail order lifted, next spring this would have doubled"

Just lols and that's about as desperate as it gets, literally begging people not to sell so your punt doesn't lose value. Pretty shallow stuff. Anyone falling for this ridiculous rhetoric simply deserves to lose their money. My god it's basically "this time next year Rodders . . . .".

Carnival is haemorrhaging vast sums of money every month. Third quarter was $700 million every month according to the recent report. It's dire.

It's nothing but repeated bouts of waiting for the next batch of cruises to be cancelled whilst rampers desperately try to convince people that all is well and that magic vaccines will appear any moment and change everything. Like I said, anyone who believes this spiel deserves to lose their money. We're headed into winter Flu season. It's going to be chaos everywhere as people come down with all manner of symptoms and don't know if it's colds, Flu or Covid.
Government will take the opportunity to blame it all on Covid and boost the number of cases in the figures, then we'll have more lockdowns. Local CostCo store is still absolutely chock a block with people desperately buying toilet paper whilst they still can in readiness. They clearly know something is coming. Cruising is going nowhere anytime soon. The desperate attempts by a couple of lines to set sail are pretty much a joke. Maybe 35% capacity, masks mandated inside except in bars/restaurants, no getting off the ship unless you take a cruise line excursion, immediate isolation if you get sytmptoms or test positive, even if it's a false positive.
It's a dead duck for the foreseeable. Come back in a years time and see where things are. The SP will be far cheaper than today that's for sure.

DYOR

Oh dear. Yet more cruise cancellations

https://www.lse.co.uk/rns/CCL/carnival-cancels-some-cruises-for-november-and-december-3zwohm7wv8apwxp.html

and on and on and on the nightmare goes. SP only going one way

Rises often precede confetti placings in many shares.