Yet another BS trading update out this morning.
Shareholders, or potential shareholders, can infer less than nothing from it. However as a long term watcher I'll assume it means they are still losing money and a placing is on the cards at some point this year.
Exactly. In fact in my opinion the chances of delisting are now high because I'm now almost certain it is only insiders subscribing to the placings. If that is the case why do they need the listing at all? They can save perhaps 100 grand per annum by removing listing costs.The company is not viable IMO.
Well with the O'Neill/CCCAL controlled EP&F valuing the shares at 0.023p that equates to a valuation for the entire company of just over £300,000 which to me is still too high but is much closer to fair value. The recent placing was at 0.1p which is FOUR times more than EP&F are valuing the shares!
It begs the question who on earth is subscribing to these placings? Obviously no independent 3rd party would put a penny into this junk. So its related parties obviously and I'm coming round to the idea it is simply employees subscribing. They each put a small amount in but get it all back as salary. That makes sense since its what O'Neill is doing so why not the companies employees? The unfortunate thing is the placing price therefore does not reflect the value of the company in my opinion. It inflates it because this business is barely solvent, has never posted a profit in 15 years, has a large working capital deficit, and teeters from one placing to the next. We're already taking bets on to when the next placing will be. Its inevitable there
Obviously the market has not cottoned on yet to the massive writedown by EP&F on their Mediazest shares.
Bizarrely the share price graph is a straight line the last month. When did that ever happen? The mystery here is what is InUrface doing? If I didn't know better Id have said they have bought all the shares in the open market that were placed at 0.1p!! All very strange.
How can MDZ place shares at 0.1p in February this year when EP&F Capital PLC , who are controlled by the same party, value the shares at only 0.022p in their accounts?
Answers required. What the hell is going on?
I have some shocking news for holders
EP&F Capital have written down the value of their MDZ stake by 67%
They were valuing MDZ shares at 0.067 pence.
Since Jan 2019 these are now being valued at 0.023 pence which is a quarter of the current share price!
Its been written down from from £17,877 to £5,959. Check page 19 of the recently release EP&F Capital accounts which can be freely viewed on the companieshouse.gov.uk website.
As we all know by now EP&F is the other company we know off that is controlled by Lance O'Neill and his opaque offshore company City & Claremont Capital Assets.
EP&F Capital still hold their 26,448,571 according to the Mediazest website. This has recently been updated with the InUrFace (Jarvis Investment Management shareholding) so we know its up to date.
This company is a joke and you are going to lose all your money. As a shareholder all you have to look forward to is continual losses and continual share dilution.
This stock belongs in the toilet.
There's nothing else I can say.
All very odd. They've picked up 10% of the company without moving the share price.
Either this lot are in some way connected or they are not the sharpest pencils in the case. MDZ is completely controlled by O'Neill/CCCAL.
Their 10% is completely worthless IMO.
The latest placees are already sitting on a 20% paper loss. Not bad going. And not much to look forward to either given the outlook statement.
I really would love to know who is contributing to these placings. I mean it would be hard to find a more unattractive investment. The only logical conclusion I can come up with is vested interests. I don't believe any independent 3rd party would subscribe for shares in this effort. We know Lance is taking 60 grand a year so it makes perfect sense for him to contribute £10K in the placing if it helps keep the company solvent.So maybe other employees are doing the same? Or maybe there are other offshore companies, owned by the directors, subscribing.
I still rate the equity here as worth zero. The financial liabilities are a million quid and wipe out any value int the shares of this perenially loss making effort IMO.
Its almost like these buyers haven't done the slightest bit of research in the company's true ownership. Why would anyone take a stake here knowing O'Neill/CCCAL control the company and can call in a loan that will sink the company. Surreal.
History would advise you to completely ignore news, and the value of, of new contract wins. They are completely misleading. The problem is they need sizable contract wins every year just to keep standing still. Recurring revenues are only £0.7M. And we have no idea if any of these contracts are going to result in a profit.
Im amazed these shares have held up so well today. An extraordinary share price performance.
The shares are a strong sell. Despite the benefit of significant business rolled over from last year they still post a loss.
Disgracefully they post the results from the subsidiary. You don't own shares in the subsidiary! You own shares in the Group.
Then there is the usual jam tomorrow BS. They've been publishing this rubbish for 15 years.
Exactly. The 10 grands worth of shares Lance bought in the placing were effectively a gift. He received a 10 grand pay rise (20%). Remember Lance is a part time non-exec with multiple directorships. Why he was given a pay rise is a mystery given the total value destruction that has occurred since he has been present at this company.
Does the new 6% holder know CCCAL can call in their loan soon? Every year CCCAL (almost certainly aka director Lance O'Neill) must pen a letter primising not to call in their loan for another months. I can only assume InurFace haven't bothered to read the company accounts! They've also not spent 10 minutues googling CCCAL. If they had they'd know this is completely uninvestible.
You mean O'Neill. Recall he was given a 20% pay rise last year.That pays for the pathetic 10 grands worth of shares he bought in the placing.
O'Neill has presided over a 99.8% reduction in share value since IPO. He's a non exec with multiple directorships. This is a part time job for him. Probably spends a day a week on it. Do you think he deserves 60 grand a year for his achievements with MDZ so far?