Member Info for MrMagic

Looks like the age old MM trick of raising the Ask to me. Bid is still under 0.029p I believe. So, just a silly spread. Same old.

Orslega - "So £900K market cap pre placing + £500 placing =£1.4M" This kind of maths is a total fallacy I'm afraid. It's a bit like pretending you earn £200,000 a year in salary but have neglected to deduct all the tax and NI the government will take away which actually means you only take home £120,000. What you are doing is saying that if RRR gets £500K in cash then the value of the company for shareholders must therefore have increased by £500K. I would beg to differ. Some facts. In the years 2013,2014 and 2015, RRR raised just over £9m via various placings, share issues and CLNs. Thus by your over simplified maths the company ought to have a MCAP of at least that £9m, but yet here you are talking about the MCAP being just £900K pre consolidation ! Can you tell me then where that £9m has gone? Can you point me towards £9m worth of assets or projects where that money is residing? A great deal of the monies raised were, according to the RNSs, for working capital which I would argue has added little to no value whatsoever to shareholders.

"Many are now predicting oil at 60 dollars by the end of 2016" Of course they are, it's the media ! Regardless, can you tell me how much revenue (actual in the bank profit) NCT has been making from LM20? It has been producing since February hasn't it? And if you are suggesting that the revenue is in any way significant why did we issue 1.4 billion shares in March at discount and a further 1.5 billion shares in April also at discount? Does the POO rising from $40-$60 really change that? I'm afraid the sound bites, rhetoric and jam tomorrow spiel, constantly flowing as it is here, does not goad me into walking into the next dilution.

"I have also said that there are too many shares in issue and this would be excellent time to consolidate" What difference does it make how many shares are in issue? Blingy would still have 3% whether there were 1000 shares or 10 billion shares. The reason people don't like AIM companies with billions of shares, imo, is that it likely indicates a company that has heavily diluted in order to get into that position. It's that tendency to increase share issue (i.e dilution) that potential investors don't like, not the total number of shares. That worry does not go away with a share consolidation, in fact a consolidation can often make the perception worse If people deem it to be a "reset rinse repeat" strategy.

Nothing like preparing the way for bad news eh Orslega ! lols Consolidation is imo inevitable as I have said before. Most AIM companies end up doing them. Your sound bites purely deal with ways to "get away with it" without people worrying about it too much. i.e. Consolidating during a period of good news etc. The point to note is that a share consolidation isn't necessary at all if you have run/managed a company in a good way which keeps the SP buoyant and rising. If you repeatedly place shares, dilute and create money out of thin air then you destroy value for shareholders and with it goes the SP. Doing a consolidation is not a fix. It's admission that the company has been run badly and shareholders should never be positive about it imo. Here it's a case of embarrasment I would think. I mean the SP is less than 3/100ths of a penny for goodness sake ! RRR which you mentioned did 2 capital re-organisations in the space of 12 months which shows had bad things were imo. By the end of 2014 after the usual year of placings/share issues the SP had steadily fallen and was approaching the nominal share value of 0.1p. Bell's response was to lower the nominal value to 0.01p in that first capital reorganisation. Whatever the reasons were for doing that, I noted that under English law a company may not issue shares below their nominal value and thus lowering that nominal value 10 fold certainly allowed further placings to continue, which of course they did throughout 2015. By the end of 2015, the SP had once again fallen stedily and was now approaching the new nominal share value of 0.01p. Bell's response this time was a share consolidation (25-1). He cited his reasons as being lack of transparency in some finanacial systems which can't deal with tiny SPs in the order of 100ths of a penny. There is too much rounding which makes it hard for investors to know the true trade values. LTHs of RRR will of course hold their own views of why a 2nd capital reorg was done within the space of 12 months !! As I said, a share consolidation is no fix, no solution. It simply paves the way for "more of the same" whatever that "same" happens to be. The simpler option is for the BOD to add plenty of real value to the company and then the SP will rise of its own accord to less embarrassing values. But that value seems to be somewhat lacking, so I draw my own conclusions as to what will happen here.

You've done all you can Blingy that's clear. Nevertheless it is truly shocking that shareholders have to find out about a 3% holder via a chat board instead of the company/NOMAD dutifully putting out an RNS in a timely fashion. "I'm not a fan of share dilution but as ive said before as long as its to raise funds for asset building or participation in other projects rather than directors ferrari s" I have some sympathy with that viewpoint, however, BOTH the recent discounted dilutions with Cornhill mentioned Working Capital as their reason (amongst other things). Unfortunately shareholders of AIM companies are rarely informed just how much goes to WC and how much to projects. Personally if I see Woking Capital mentioned at all in relation to placings then I tend to take quite a dim view of it. GL with your 3%.

"how many sells at 0.026 and how many buys over 0.03..." The buys vs sells is not the issue I was raising. It was the fact that the sells, being in the 0.26p range, surely must be at a loss, wouldn't you agree? If so, why would they sell at this juncture?

"Ive notified both the nomad and the company of my increased holding now in excess of 3%" Noted thanks. Pretty poor that no RNS has been forthcoming. You've been at 3% for over a week now I think.

I note that no-one picked up on my post asking where the Holdings RNS was for Blingybird. Is it forthcoming, or was he not being truthful.

Another trade today in the 0.26p region, (ISDX 4.3m). It certainly looks like someone is slowly exiting out of the back door under the radar. I can't see how trades at 0.26p can be making any money unless they are shares somehow bought below that price . . . . . (!). There have been a steady drip drip of 0.26p trades over the past couple of weeks, worth keeping an eye out for them imo.

the children squabble . . . . Anyone know what happened to the Holdings RNS we were expecting from Blingybird? It's now a week since he (allegedly) bought another 60m taking him (allegedly) over the 3% limit.

Stuy - "I'd say confidently we are sitting on the bottom now and very unlikely to drop further" Pure speculation of course and given your previous posts I personally can't take them seriously. You appear to be in complete denial about what has happened to this share.. Your previous posts: 11 Jan (SP 0.0575p) - "IMO NCT has bottomed" 03 Mar (SP 0.065p) - "This is not the time to stick into a "bottom drawer" The action is about to begin very soon and you will miss all the fun". 23 Mar - Company places 1.4 billion shares at 0.0315p 31 May (SP 0.0275p) - "Defo sitting on the bottom now" I guess if you keep saying we are at the bottom enough times you might eventually be proven correct. Meanwhile, reality hits us all hard in the face. It's about revenues vs expenditures.

labrat - " it calls into question if the "comms" with RC are even real" It is for this reason that the LSE site here forbids the posting of any private communications with company execs/ceos/directors. If it were to be allowed, it is a situation that can be quickly exploited by unscrupulous posters. The problem exists, I have witnessed it myself over on RRR by a poster who massively mislead people with claims about things the CEO said. Bottom line is it is against the rules and should be reported whenever anyone tries to post such comms. If a CEO has something to say, then say it to the entire market via the formal channels. The "wink wink nudge nudge" style of posting by some here should be completely ignored imo.

Drillingcrew - "A company (probably alot more established) likes very much what NCT are planning for the future and seizes the opportunity to get involved with NCT by bringing their own funding to the Jv - perfectly feasible?" Were that the case, why then did NCT have to raise money in March and April via discounted placings via Cornhill? A total of some 3 billion shares issued at discount to the prevailing SP to raise £950,000. Your suggestion doesn't appear to tally with the reality. Why weren't your JV companies queuing at the door back then to offer their funding in exchange for a share of this these lucrative NCT opportunities?

"What is not priced in then? " The next discounted placing I would imagine. It'll be a doozey !

"currently up 12.5%" Haha oh the old one's certainly are the best. Up the Ask but not the Bid, looks like a nice increase but just the same old MM trick used for decades. Dummy trades just done suggest there is roughly a 15% spread. lols. When the Bid rises and the spread narrows, then it might mean something. As it is, I'm personally not fooled in the slightest and the lack of volume suggests few are interested in the jam tomorrow rhetoric here.

"at least an admission that finance is required has finally being given" Labrat you are never going to get this lot to fess up about funding issues, placings, and the like. One wonders who these people are working for, posting relentlessly 20-30 or more times a day. No normal employer would permit an employee to sit there all day on internet BBs posting away . . . who do these guys really work for? Meanwhile, very few trades again and I note another sell at the low SP of 0.027p (can't be making profit can it?). $6m loss just posted in the annual report ($9m last year), total administrative expenses of $5.6m, directors remunerations $808,000 . . . Fill yer boots it's gonna 10 bag lols

Orslega - "Of which $1.6M were for all staff (12 full-time) costs, the $4M balance was impairment and other professionals costs...." The point is, when you are a loss making company, you don't continue to expend high levels of money on Admin which doesn't deliver shareholder value. You cut costs to the absolute bone, you cut staff to the absolute bone, you sell off all the assets that are not on the primary focus track and whatever monies you have available MUST go solely to ventures that WILL return good revenue in a short timescale. You don't stick fingers in lots of pies, you get one or two really good projects that WILL deliver revenue and you focus on them and deliver them. When you have directors making a $6m loss ($9m loss prev year) and yet taking remunerations of $808,000 then it's nothing more than a pee take. Add to that a willingness to shaft/sacrifice long term loyal holders with discounted placings in favour of finding real investors willing to pay the going rate and what you have is a failing company that will only change if and when the BOD are removed and replaced.

Annual report awful. Not much really to be said. No wonder the crew here are working overtime with jam tomorrow and 10-bagger nonsense ! The salient bits for me: TOTAL LOSS - $6,137,000 TOTAL ADMINISTRATIVE EXPENSES = $5,660,000 (approx. £4.2m) This is a company with just over 10 billion shares in issue and an SP (shown above) of 0.0275p which equates to a MCAP of approx. £2.7m. There was a great session at the UK Investor Show over a year ago on which there was a panel of experts inc Dominic Frisby, Richard Poulden and Amanda Van Dyke. Dominic Frisby berated a lot of AIM companies (esp miners and exploration companies) saying of them: "statistics revealed that more than 50% of all funds raised went to management rather than "in the ground" and that a whole raft of lawyers and fund raise companies have emerged to support that poor situation and all need to be cleaned up." Richard Poulden (CEO of Wishbone Gold) was asked for tips on how to choose AIM companies and gave this advice: "You should look at how much management own of the company, it's very important. If they only own 3%, they'll go out and raise money to pay themselves as day follows night. The next thing is you should look at the G and A (General and Admin costs), tremendously important. How much money is actually going into the ground ? Are they paying themselves stupid salaries ? How much skin do they have in the game?" Wise words imo So, NCT . . . Total Administrative Expenses - $5,660,000 Total Director Remuneration - $808,000 (Randall Connally - $283,000, Ross Warner - $125,000, Daniel Jorgensen - $234,000, Ross Warner - $125,000, Charlie Wood - $94,000) I congratulate poster Earache who has clearer removed his head from fantasy land and seen the light. I note that neither of his 2 questions were answered. Where is the missing Audit Report in which the auditors have drawn attention to going concern ? Yeah of course this will 10-bag . . .

Still spreading the jam tomorrow Orslega, but those sells keep a coming. I'm not convinced one iota by the sound bites.