Member Info for MrMagorium

Alan55, a fairground ride is a cheaper thrill than losing my cash on your dog stock tips.

I most certainly am... one of the most exciting BB on LSE.

Have to praise RMD in my opinion. Managed to get a free Main Market Shell and a JV in what looks to be a profitable business without owning a share. Kudos.

Anyone know where current shareholders are likely to stand now in all of this? Does it look likely they could be wiped out from an upcoming fundraise?

What shareholders fail to realise, is that this can't trade out of it's current highly leveraged status. That is why the business is being sold.

I personally think they will walk away. 50p is too much for a company that they can leave to go bust and pick it out of administration for peanuts.

AIMHO, GLA, DYOR.

Zag, i'm appreciating the work of RMD in covering both bases and snagging a Main Market shell for free.

One could argue the time spent by the Directors to do all the work isn't for free though, as they will likely be compensated with shares and a healthy remuneration post RTO completion.

Timbo, it looks like RMD have secured both bases. If the vote is 'No' they call in the loans which are secured as a Floating Charge over the companies assets.

They have played a blinder really.

RMD have secured themselves control of a MM listing vehicle for free and don't own a share. Masterstroke.

36% Spread...

Yowch... you must be well in the red P&D crew.

This looks like a dog, and anyone ramping it must be losing a load from a failed pump and dump.

Big shame people can still do this activity and get away with it... same names as always!

A 30p share price prediction, with reasoning "Financial Crisis" probably won't mean much to those who have run proper valuations on this stock.

I think the company could be on to something from an Open Banking perspective. AI driven credit scoring and of course access to potentially millions of bank accounts here and, if they manage to pull off some deals in Europe... it could be their too.

The founder want's to build a $1 Billion company, not be someone's $1 Billion Dollar hire.

You would have to be brave to bet against him from what he's achieved so far.

Obviously have to see how they get on with the Connister Bank rollout first which when they get that succesfully implemented will serve the blueprint to deals with Banks in Europe hopefully.

GLA and Please DYOR.

A buy for me...

Toffee, you do realise the money wasn't raised at 1.5p? It's unsecured Loan Notes. Not an Equity raise.

As the interest accrues on the Loan Notes this effectively gives the holders a larger sum to covert to equity, which reduces the 1.5p issue price downwards. As illustrated in the RNS.

It still should work out at a decent premium, if the debt is converted in the next 12-24 months. Those selling at 0.6p probably made a decent return from 0.4p level and decided to take some risk off the table...

I bought a few more today, but bit suprised the EBT hasn't announced any further purchases at the current level... unless they exhausted their available funds at 7.5p...

UAT can depend on the complexity of what is being tested. In this case, they had originally planned to deploy December, so clearly something doesn't sound like it went as planned.

Q2 is technically Apr-June, so plenty of time for them to update and I see thry made EBT purchases at a premium to today's price indicating confidence...

Very cagey in revealing who is lending them money to keep the lights on.

300k provided in January 26 with a monthly interest rate of 3%, seems very expensive but with how distressed this has been and how many times it's not been able to do a RTO, it's probably indicative of the risk the lender faces.

There's an expectation the RTO will complete in coming months, but i'm not so confident based on how things have been historically.

You might miss a decent %. If they announce rollout in Apr-Jun, this should go back to 10p+.

Will have to see if they are delayed again.

Well my prediction seems to be coming true. I might bite the bullet around this sort of level...

The new financing is secured to take the IP and whatever else remains of value for circa £10m max.

The Accounts or AGM forms are not present on the website despite RNS indicating they are...

You would think under the laws of probability, they will one day get something right.