Member Info for slowburner

Under this five-year, renewable agreement, the Company provides existing machinery on a bailment basis to Jabil and makes no initial capital outlay. Should the Company not order a minimum of 143,000 pallets per quarter, it is liable to a pay an under-production gross-up payment to Jabil to enable Jabil to recover USD2 million in capital commitment to the project. There are also a few other snippets towards the end of in the report of interest which gives far more detail on production than previous reports ( maybe the Woodford influence ) as follows A significant sale of pallets, to be delivered in Q4 2016 is under signature process with a major US-based company. The expected sale of pallets in Q4 2016 is not factored into the net monthly cash outflow of USD 2.0m and could bring additional cash inflows up to USD1.0m per month in the course of 2017, subject to the delivery schedule required by the customer.

Looks like BANGO have been busy with Google with 2 launches in the Middle East and whilst Batelco are relatively small the relationship with Ooredoo appears to be developing very well and with approx 114m customers (according to WIKI) could be very exciting going forward. https://news.bango.com/2016/12/19/bango-continues-rapid-fire-roll-out-of-google-play-carrier-billing-with-two-in-one-week/

Funkybeats Just to clarify they have only drawn down the additional 1m not already spent it so they still have 2.5m to play with and presuming no income (which I doubt) gives them breathing space until June next year. Lets see what the trading update brings

So the Bango twit account stays silent on the MEF award for BANGO Boost ????? Maybe Josh thinks the mention of iTunes in the complaint is more important lol

Every September H1 Results Bango state they have a healthy pipeline of activations underway for the remainder of the year and then what do we get ? Deafening silence No wonder the market gets ****ed with them Ps Playing out complaints on the Bango twitter account about some guy wanting a refund on an iTunes gift cards he purchased with BillToMobile can't help either

As you say lets hope this is on the way back up although without the update on the manufacturing facilities in Mexico and China I find it hard to see this will go far. It's also interesting looking at the BoD deals over the last 18 months and even taking account of the shares in lieu of salary they still need a SP of circ 45p to recover their investment although if I was chucking £3.5m at my company I would not just want my money back !. Also they do not get their share options unless the SP closes above a thirty day average of £1.00 ! PS Some interesting video footage on the RM2 twitter feed of the guys at the Packexposhow but not sure if they appear to be having a fun time and they also know things are on the up or they have just given up and making the best of things

Maybe Donald could give Nicola a call and the men in Kilts could help to build the wall as like the Chinese they are also experienced in building walls and as their oil fields are put to sleep and they have no footy games to look forward to for the next 5 years they have some time on their hand lol lol

Looks like Trump is backing down on abolishing Obarmacare so maybe the Mexican wall and the tax on Mexico & China imports will also go lol

Looks like another f*ckup by the RM2 BoD

Apple have launched further carrier billing routes in both Russia and UAE ( Megafon & Etisalat) with reports stating that DCB take up in Russia since the first launch have exceeded all expectations which is good news for the DCB industry generally for exposure to other markets considering whether to go down the DCB route. In relation to Apple DCB I have not seen anything news wise to confirm who Apple are using for their DCB payments processor other than rumours last year that it was Boku but nothing since and none of the Apple launches mention who they are using which is the case with Google and MS. There is also nothing on the Boku web page regarding Apple and Apple was not mentioned in the recent Boku fund raising which I would have thought would have been a key issue and if they did have the DCB deal with Apple for the last year you could ask the question why did they need the fund raising in the first place. I know BANGO worked with Etisalat launching both Google Play and Samsung Apps in June 2014 and it would be a shame if Etisalat / Apple were not using the same payment processing system all though this can not be ruled out. Anybody have any update on who Apple are using or are they DIY as Bango call it ?

Things must be looking up for RM2 as it looks like they have employed someone in the IR department lol

Mexicon was my fat fingers and was not suggesting that RM2 are up to no good lol

As I said update on manufacturing facilities is now required asap

I think ELIoT is more about the supply chain being able to track the goods rather than pallet loss as the RNS headline would suggest. I would also prefer the BoD concentrated on actually making and selling / leasing some pallets and then worry about how many that get lost Update on China & Mexicon manufacturing would be helpful

When are Igas forecast to breach ? Whilst wishfull thinking wouldn't it be interesting if in fact the BoD announced the possible breach this week to flush out the bond holders knowing full well they could reduce the outgoing cash flow and therefore avoid the breach for several weeks and buy some time to negotiate the best deal knowing who the bond holders were and their intentions We will know in the next days

Option A failed Option B unsure of the outcome Option C Dead cert Why don't the BoD get on the train to Newmarket tomorrow morning with the remaining US$27m and lump on No 7 in the 3 o'clock @ 3-1 and have done with it Heads we win and stick 2 fingers up to the bond holders Tails we loose and it's all over but at least the Bond Holders don't get their mucky hands on the cash and the company would be well and truly f"cked

Looking back at the timing of the RNS regarding the agreement with Jabil Trump and Clinton were almost neck and neck in the polls and the outcome of who would be the next US president still open. Makes you wonder if RM2 had considered the implications of Trump winning in that his manifesto was to bring in a 30% inport duty on all goods from Mexico to North America With the cock up on the manufacturing costs in Canada, the cock up with import of equipment into China and the above you must question the competency of the RM2 management . On the Trump issue maybe the fact that Donald couldn't keep his hands to himself and his gob shut RM2 may have had a much needed luck break

Does anybody know if the equipment has cleared customs in Shanghai yet or is this another RM2 cock up

I have been traveling this week so did not have time to fully read the interim report but on doing so found this which was not included in the RNS about the agreement with Jabil Under this five-year, renewable agreement, the Company provides existing machinery on a bailment basis to Jabil and makes no initial capital outlay. Should the Company not order a minimum of 143,000 pallets per quarter, it is liable to a pay an under-production gross-up payment to Jabil to enable Jabil to recover USD2 million in capital commitment to the project. There are also a few other snippets towards the end of in the report of interest which gives far more detail on production than previous reports ( maybe the Woodford influence ) as follows The pultrusion machines shipped from Canada on July 15th are currently awaiting customs clearance in Shanghai. (not good news thus the agreement with Jabil ??) A significant sale of pallets, to be delivered in Q4 2016 is under signature process with a major US-based company. The expected sale of pallets in Q4 2016 is not factored into the net monthly cash outflow of USD 2.0m and could bring additional cash inflows up to USD1.0m per month in the course of 2017, subject to the delivery schedule required by the customer. The one-time-costs relating to the transition to China previously estimated at USD 8.8m now amount to USD 9.9m as the Group has decided to upgrade some equipment before commissioning. At the end of August, only USD 1.6m has been paid regarding these one-time-costs. (they need to find USD 8.3M ???) Approximately 92,000 pallets were produced in Canada in the first four months of 2016. As the Group moves toward an outsourced production model, the Group has carefully managed the inventory and the commercial deployment over the first half of 2016. 20,000 pallets have been deployed in the field, taking the total active pool size to 250,000 pallets. The pallet inventory has grown to 160,000 pallets, which will be allocated to future contracts until outsourced production starts in the course of 2017. The revenue generated by the lease activity in the first half of 2016 was USD 2.7m, which almost equals the full year 2015 rental revenue. The Group expects to contract a significant sale of pallets in the last quarter.

Peer Is it not that Zamano were getting a free ride and now need to pay their dues to play in the game What are the actual new changes advised by Payforit and are they not driven by the all the MNO's and the payment platforms and not just Bango Can you also explain further why you think Bango are to blame and how this will / did impact the Bango SP