Member Info for MrMagorium

This looks like a shambles of a company unfortunately, and I feel sorry for those who've lost their shirt due to this unscrupulous management behaviour. They've destroyed the value themselves, why on earth they are raising at such substantial discounts, in an act of despairation.

They've taken it to the line on funding too many times, and now they've got someone 'part-time' to tell them when the coffers are empty.

ToS1963 have you got the information in relation to them being able to raise below a penny? As their par is currently 1p, to my knowledge that's not allowed. Hence why they are raising either at, or a slight premium to 1p currently.

I don't like the dilutive nature of this business, and think there's big risks attached, but if there's a trade on offer; I'm all ears.

Hmmm, I think people are getting ahead of themselves! I always stick by the saying "greedy when others are fearful, and fearful when others are greedy"

Let's see if the management do make an offer, because based on the current business model, it to me feels like they certainly won't be offering £1.

Definitely good news an institution has taken a slice according to your news, hopefully the small PI can now enjoy the ride as it lessens the risk of any "unscrupulous" behaviour taking place .

I thought this would be sold off on the cheap back to management if I'm brutally honest, as the brand seems done for, albeit for a mighty revival plan.

Good luck to those profiting ! At the end of the day, it's nice when people make a few quid and not lose!

AIMHO, GLA, DYOR

In typical JV fashion, I expect an update in the afternoon or evening !

50k was certainly a buy. What a bargain somewhat get there eh!

Double digit revenue declines, Net Debt roughly 29mil and an underlying loss of circa 20 mil+, coupled with a CFO resignation.

Yet they are generating decent gross margins in the 50% range, which is indicative of their need to reduce overheads substantially...

I've seen it all before! Only one way this is going IMO, DYOR, GLA!

'What story can convince investors to come to SDRY?'

Hard question to answer, as to convince someone they have a relativley high likelihood of losing 100% of their investment, is enough to put anyone off an investment here IMO.

It's now really for the brave and ballsy, trading the swings as it becomes volatile, but as a mid-long-term investment; I honestly think this is finished.

I think the brand will live on though, just have a feeling that will end up resurfacing in Sports Direct next to the SolCal and Donnay heaps probably.

AIMHO,GLA,DYOR

Hedgehog, personally, I'm not investing in anymore shell companies, as I think the poor market conditions has been used as the scapegoat for many advisory companies taking a fair amount in fees off the shell companies to do DD on a company, which has very small likelihood of going ahead and ends up being aborted.

Only winners of late in this area, appears to be the companies "advising" the cash shells, and let't not forget some of these business have also been compensating the BOD via Salaries other compensation.

Aware ARA, does not compensate directors and has not yet signed a HOT to acquire another business, but just giving my personal experience of what I've seen happen as of late.

AIMHO,DYOR,GLA!

At least the 1p came true in the end!

I wonder if they have considered buying back the shares at this price. Unless they know of any impending investments which have potential to generate 100%+ returns in a relatively short time frame, it would seem a no brainer.

With the NAV at circa 25p and expectations of reaching/exceeding 30p if the the LS put option is excised, it doesn't feel unreasonable to me that 20p is out of the question in a short time frame, and that could still represent an opportunity for investors, still giving it a 33% discount to the prevailing NAV. Ie. 20p Market Price - 30p NAV.

Feels massively undervalued.

All views my own, please DYOR and GLA!

Could end up buying a falling knife with this one. Warning signs are all there, but it does feels like a brand Mike Cashley may consider taking on and putting in his Sports Direct Shops.

Trouble is, he's well known for buying the firms out of administration.

AIMHO,GLA,DYOR

Sorry, should say new shareholders are existing directors from the former company.

Ie, they've took the crown jewels from the struggling entity at a discount and left the old holding company with all the crap.

Not saying that will happen here, but I have seen it so many times the last few years that it would not suprise me if it does.

GLA, AIMHO,DYOR

If these comments are from a genuine source, that to me signals a massive sell on this stock.

Big shame, as I've seen so many of these scenarios the last few years where current PI lose the lot, but the the company carries on trading under different ownership, with the new shareholders directors of the new business.

In my opinion, that's actually a legal way of robbing someone. No wonder the public markets are in the state they are with such scenarios.

SP is too low IMO... I wouldn't be surprised to see investors start taking a sizeable stake here, especially those who bought in at the 21p placing earlier in 2023.

They must surely be considering bringing their average down, given the potential gains on offer here...

AIMHO, GLA, DYOR

It looks like someone could be accumulating given the uptick over the last few days, and no doubt it was always vulnerable to TO with the amount of cash it has in the bank.

GLA! DYOR! AIMHO!

Topped up a few more today, just whilst I can...

Lazy, I agree regarding the difficulty in securing equity funding for small cap businesses, but as you also highlight, deals are still being done.

Unfortunately there is likely disparity on the valuation of Line Hydrogen vs what the existing directors think the business is worth.

With interest rates at the levels they are, investors need stronger gurantees of the prospective returns they are chasing from speculative investments... Does Line Hydrogen provide that? I'm not entirely sure, given lack of any accounts/financials, which is concerning to me as a holder in NZI.

Wish you a Happy New Year in advance and hopefully a strong return for all holders in NZI for 2024!

People just don't seem to get it, but when the SP is back into the 20's, then at least you can say told you so!

Shaz, I personally think this could fly tomorrow, and so it should. It's too cheap and seems to have much more potential than the NAV it's reporting.

People criticize JV but he's done a stella job here IMO and good on him releasing the after hours RNS... although I think that is maybe due to timezone differences and not necessarily on purpose.