Member Info for WallofFear

Mayweather made more than $200 million in an hour of swinging his arms and getting bruised. Monitise was sold for $97 million in 10 years of negotiations, partnerships, 2000 people hired and fired, 3 CEOs, and much more. Other than Lee Cameron did anyone else make any significant (7 or 8 figures) money with Monitise?

Mark Pearson took the biggest hit since he was paid in shares and sold 4% of the company outstanding shares at a 90% loss a few months ago (took a hit of over $30 million). Cooperman in absolute terms with a loss of over $200 million.

The $20 billion company that never happened due to poor leadership and poor execution. Talk of cooperation that never led to cooperation. It seemed to have tremendous potential on its own. More than $2 billion in value that vanished.

And will likely trade to around 2.5- 2.6 pence immediately after. Anyone's guess what happens after that with other offers....

The numbers are not there. I don't believe have 75%. Does it return to 2.3 pence immediately?

Yes, Cavendish statement implies they will go along (though reluctantly). That is what I am doing as well. Will go for 3.1 pence(yes a steal but no other offers).

Where is the competing offer??

I have to unfortunately admit that Doug Kass called it right when he sold out at about 17 pence with his statement basically saying that he couldn't trust this management anymore. He said something about the company's projections didn't add up and he jumped ship and lost 30-40% of his money while his buddy Leon Cooperman was still adding shares. Many discounted the views of Kass at the time and felt that he was just frustrated with his poor timing. He smelled deception early on.

Institutional investors have been adding shares while having discussions with Fiserv....notice the 2.5 million share addition yesterday...

Likely Monday and should get the couple institutional hold outs to come along and get this deal closed. Fiserv needs to get moving on its mobile initiatives and $25 million will not hold it back.

The sliding dollar has made the acquisition cost for Fiserv go up by $4 million since the announcement 2 months ago...

This board and executive team has nothing to lose from giving away this company. I assure you Fiserv has given them offers to keep the essential FinKit leadership at likely twice what they are currently making. In return they push for a sale that saves Fiserv $400 million. The board has virtually no shares. Cameron's 10 million shares can be make up with 2 years of higher salaries. This was our biggest warning....and most of us didn't take it seriously enough. If this board and leadership team owned 20% of Monitise this price wouldn't have been a consideration.

Why won't someone offer £35 million for MCV now?? At EBITDA X 6 would be a steal!

Fiserv needs us to advance mobile efforts but at what price? The lack of other interested parties makes me question how much higher Fiserv will drive this price. I do consider it a failure that our board and executive team are recommending a sale at this valuation. They are admiting that shareholder equity invested (over $1 billion) and employee efforts for 10 years have not generated any increase in value since going public. Not a single long investor would have invested here since this went public if they knew or expected this would be the outcome.

What are your thoughts? Why given what appears like good technology did we not land FinKit contracts?

This has truly been a tragic story for a company with the appearance of massive potential. Lukies claimed $20 billion valuation was reachable when it was a $2.5 billion valuation. The subscription model transformation was supposed to open many doors. The US and Turkish acquisitons to open new big markets. The Santander and MasterCard investments and partnerships to open global projects. The recent partnership program to open up more innovation. With each announcement they declared such ambitious projections- even 6 months ago. Now they suddenly want to jump ship at a total valuation equal to 25% of what they spent on recent acquisitions in the last 5 years. I am not sure who was the most dishonest- Lukies, Buse, Cameron...

I sent Fiserv a message about my 23 million shares. I expect they will announce a 3.5 pence increased offer to get this through which will still be an incredible bargain for them.

Very interesting turn of events.....

I am trying to assess interest in my contacts in someone picking up MVC for 2 pence- what a steal!

Yes, I know you can make a strong argument for 10 pence here. My numbers were low-ball if vote is no. EBITDA multiple below 7 on MCV which is profitable and growing is a no brainer for an acquisition.