Member Info for MrMagorium

Think you got caught on this one Sharebel.

A poster wrote earlier in week that 0.1p on the way and that seems more logical as everything now is speculation.

I personally believe this is going to zero or suspension. AIMHO, GLA,DYOR

With "thorough Due Dilligence" being required here on the potential asset sale, that can take months.

With it stating it had 25k in the bank last week, do you think it is likely to be running on fumes anytime now?

How can a company with no cash continue to trade?

Do you therefore think there is a potential risk of suspension, pending outcome of Due Diligence and potential asset sale?

Honest Question to you Sharebel.

Sharebel. Are you panning yourself in desparation as you've been caught out on this one? Your 1p prediction has now dropped to 0.2p, because you want out at your entry price. IMO, I think to take something is better than nothing. Better to admit when wrong and move on, then try and lose others their money.

Come off it Pipeperson, any value they offer on the assets will take into consideration the value of the liabilities.

They are businessmen not a charity for shareholder losses.

When no financial values are disclosed on a deal, there's a reason why. My points are valid, and I called out the ludicrous 1p predictions put out there by Sharebel yesterday.

One could argue this could be lower than 600k and possibly even zero or negative.

The big assumption, is if they are able to salvage enough from the asset sale to repay liabilities as remainder will be left to equity holders.

There are costs associated with the wind up and distribution, so a party may see it as in the best interests for shareholders to remain listed as a shell and pursue an RTO. There's a few shells out there at the minute with a sub 1 million market cap.

The big question though, is what value will the assets be sold for, if they are indeed sold.

Sharebel, you are the master of plucking random numbers out of thin air. You were saying this is going to 1p yesterday.If someone thinks it could go to 0.10, they are classed as a deramper and a troll lol. Hypocrite.

Sharebel, i'm talking total liabilities and not current.

And yes they are desperate, as they reported 25k in the bank last week. That means they are soon going to be running on fumes without some form of capital raise. The scavengers will certainly take advantage of this.

Also 'fair' value doesn't mean 1p. That's utter tosh, as no way in a million years are the assets worth 15 million, which you are alluding to with the numbers you quote.

Clearly don't have a scooby doo!

1p would give it a MCAP of 8 million.

It has 7 million of total liabilities. If you therefore think the assets can be fire sold for 15 million then there's your 1p value.

Trouble is, why would a company pay 15 million for assets that generate a revenue of 4 million and result in significant losses. The revenue is also almost half what it was 12 months ago. I can't see it happening i'm afraid.

No interested party has put a valuation on the assets. As it's an asset sale, any proceeds will go towards repayment of creditors before shareholders get a look in?

These are basics... buy somehow the P&D crew don't get it.

Sharebel got greedy and needs some gullable folk to to take their shares. Oh dear.

They had 25k in the bank last week according to their last RNS. There is no value being attached to the potential asset sale. Serial rampers are posting rubbish to lure in novices on FOMO.

What does that tell you? You may as well put your cash in a slot machine.

First liquidators report is avilable to those interested:

https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/4115480/37032594/entityFilingRequirement?backurl=%2Fcompanies%2Fapp%2Fui%2Fpages%2Fcompanies%2F4115480%2Fdocuments

Interesting the liquidators indicate the company was still trading until very recently and manufacturing ceased in April 2024. That seems to conflict with what some people seem to have been told by the BOD.

We agree to disagree.

The current BOD invested at a time where the outlook here was very bleak. They had to invest at a 1p as that is the nominal value of the shares and enabled them to get board control.

Personally I think with the cash this has, a now experienced BOD with proven track record in the property sector and the fact it is a main market listing (not AIM), should enable it to command a premium to the last and initial raise.

To dilute shareholders at the same price they initially invested, offers no benefit, now that the company has a much more clearer purpose.

AIMHO, DYOR.

See chairman statement in the annual report RNS issued on 29th February 2024.

https://investing.thisismoney.co.uk/rns/news/34121026

Provided below for further information:

More Acquisitions is pleased to present its Annual Report to shareholders.

Post year end and in late January 2024, Stanley Davis & I together with a Pension Fund subscribed for 31,224,000 shares at £0.01 entitling us on an RTO to 62,448,000 shares at £0.015.

Add 'AI' to a bargepole and look what happens.

Why did they not RNS that they had placed the appropriate company into Liquidation? Also, if you access their NZ website, it looks like they are still selling their goods on there. Surely if in liquidation, that wouldn't be allowed as indicates they are still trading?... doesn't add up IMO, think they have been pretty misleading.

Given it's exploring commercial property transactions, one can assume the majority of the funding will come from debt finance. They have committed to raise initial equity at 1.5p as per their RNS earlier in year when they took board control. I believe they are looking at an initial portfolio around the £30mil + level, according to LinkedIn. The intention is to then grow the portfolio from there.

Current mcap of circa 800k with cash in the bank. Could be a good bet, but comes down to your own preference for investing and your confidence in current BOD.

Accounts also overdue according to company house...

Nobody wants the debt, and I do wonder if the assets that back that debt are worth the value on their balance sheet. The full disposal of the JV is a nail in the coffin IMO. It's possibly their most lucrative asset and the value it has been sold for is peanuts, relative to the future value. That signals to me, this is not what Marston's wanted, more so, what the banks wanted to clawback some of the debt.

AIMHO, GLA, DYOR.

IMO, this is a damage limitation move. Marston's has finally relinquished all of the crown jewels to pay down the debt on their old and faltering pub estate. I imagine there is significant pressure on them needing to do so, hence the actions taken which has looked inevitable for years.

The talk about a long-term distribution agreement for their beer and soft drinks, doesn't concern me because ultimately it is not going to be as beneficial as made out. Carlsberg will now be able to negotiate better pricing with Marston's competitors on both beer and softs (following their acquisition of Britvic) so it won't give them a competitive procurement advantage relative to other and more better Pub Companies' out there.

This was a distress sale and the valuation numbers IMO aren't a reflection on what the Brewery side of the business was worth and that will be shown in the coming years. Poor decision.