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Aim, you've hit the nail on the head in your last sentence !

The whole MRS deal announced yesterday stinks, £1.3m for a company with only £48k of assets, I'd love to know the due diligence that went on to agree that the price is valid, got to ask questions of the Nomad there !

It really doesn't sit well with me the fact that Zorbas structures his activities in such a way that he is becoming the Dynamo of Aim

Trout,

All valid questions you ask that I can't answer, but the back drop to this is that it looks like through the acquisition £1.3m is exiting the business for little benefit to MRS, then look at where that cash is going, that is what triggered my senses yesterday. It does appear to be a Trojan horse type play similar to the premium raise at URU at 4.5p whats interesting there is that Zorbas really isn't bothered with the losses he has incurred, so you have to assume he recovered his ' investment ' at 4.5p in another way ?

What people are trying to do is untangle the web here and understand this with logic & facts that are available.

As I have said many times before it appears that there is a great business on the ground in Oz, but it needs to sort the debt out and get rid of these in Cyrus & Wales that aren't adding value to their core business ?

I wish you well if you decide to invest, as you will have done so having understood exactly what you are getting into, and based on historical SP at a pretty low price

As I've said before the biggest alarm bell for me here is that the refinancing needs to be sorted before it becomes really interesting.

It's been discussed for many months but not concluded which after this amount of time is a concern for me.

However currently its all fair and well being profitable its then a case of what happens to that profit, if its reinvested wisely in the development of the business then that's great, but if its being ' spent ' on dubious ways such as inflated acquisitions or MMA fight sponsors etc then its pointless making the profit ?

its a false rise as the spread is 40% ????

Is that the whole thing was triggered by InvestorWorlds posts on here yesterday.

If he hadn't have tried to pump the appointment of the " FB Heavyweight " people wouldn't have started to dig around into his back ground and then piece together the various connected parties, once this was worked out it became blatantly clear what the motive of the deal was.

Had he left it alone then I think most would have just questioned the logic and the ability of paying £1.3m for a company that's only existed for a number of months, never traded but with £48k in tangible assets.

For me this smacks of a desperation move to extract cash from the business, from what some have posted here it sounds like the personal bile from Leon towards me yesterday may well be the driver behind this, who knows the truth but I am sure in the fullness of time it will become clearer.

As Weedavemac said had they applied themselves to driving the business forward rather than constructing a way to get the cash out then the business would have been in a far healthier state for everyone !

For transparency I don't hold any MRS I sold out sometime back as I was uncomfortable with the way this was going and I experienced the mode of operation in other investments.

I certainly wish you all the best in getting things sorted here and protecting both your investment and the company as fundamentally it is sound

Austin, as I have said before yes it is making money due to the hard working people on the ground doing the work, the t issue there is still a high debt to service, and with questionable acquisitions such as this it is going to be sucking cash out of the company you have to ask is that the best thing for the company moving forward.

It would be an outstanding business if the debt is refinanced and the trapdoors are shut for the cash to bleed out of the business.

As you said before ids £1.3m fair value for what the business is getting ? and again how has this valuation been reached ?

What other business activity has the business had as looking at what others have posted it doesn't seem to have been that active or successful to warrant the purchase price paid ? this then looks even more suspect when you look at where the money is going

Austin, I think that you have hit the nail on the head here.

Austin, you have to also ask yourself why Leon keeps repeating the one piece about the gut previously working at FBm which is true as his LinkedIn Profile says that, but all the other information he chooses to gloss straight over.

Uni's post and links makes some interesting reading, especially the companies house links and look at how and where the company are set up and ask yourself why do it like that, what is the business benefit ? now it is my guess that its all smoke and mirrors but I would love to hear any other logical view for doing this ?

I have just looked at the following page http://www.lawyersincyprus.com/article/advantages-of-company-registration-in-cyprus and from there its really clear as to why this is being structured in this way.

Ask yourself - do you trust them when its all registered in a way to take benefit as registering in Cyprus does ?

Colin's been honing his talents here for years, he has it nailed on in how he does the old rinse, dilute & repeat shafting of PI's

All he needs is a band of lemmings to blindly believe in his story and its off to the placings we go

Hiya Leon, nice to see your typical mature and non emotional response.

Care to be more mature in your response and counter any of the points that I make, as that surely is the purpose of the board ?

I am happy to be corrected if any of what I have said is wrong and I certainly won't be lowering myself to your level of personal digs even though there are so many place that I could go with that.

I would love to know how you know the performance of my holdings, can you tell me what I am currently holding and what my buy price was ..........

Over the years I have learned to not take anything that Zorbas / Hogan are involved with on Face Value, as often with a little digging around you get the full picture, not the headline that they wish you to be dazzled by.

If you dig really carefully there is a slide deck that they issued via Proactive investing that was pulled for ANR that also had some very creative resumes for some of the people involved here both before and after this ' acquisition '

But remember there always seems to be the same people involved, with the same outcome for retail PI's just they change the ticker of the company that they are operating behind.

All I would add is PLEASE do your own research into the people involved here and their history, the performance of the business they are or have been involved with, both AIM listed and private then you will know the type of people you are investing your money in.

Don't get taken in by my posts anymore than you would by Investorworld or any of his other alias.

Looks to me like the vol is starting to return here as this is now 2 days of above average vol, once we see a couple of days of over 20m traded then we will see this really start to rise

OK so a little digging around shows me that Elliott Talbot is in fact linked to Leinad Energy as their Advisor, that's the company that Leon & Zorbas tried to reverse into ANR ??

His LinkedIn profile makes some really interesting reading https://www.linkedin.com/in/elliott-talbott/ as I quote 'Elliott cultivated discipline and attention to detail while serving in the military, and refined these skills during more than a decade of investing in the London Stock Exchange. He also brings 3+ years of experience as as a senior manager in emerging technology at Facebook to his work, where he researches blockchain, DLT's and advises various projects and startups. His guiding vision: to help build a worldwide ecosystem that enables universal access to secure financial instruments.

Sophisticated Investor
Currently investing in the emerging Distributed Ledger Technology market, supporting start-ups as an ICO Advisor, token metric reviewer and coaching to converting investors in this new asset class. Looking to increase the UK and Europes market share of real world use Blockchain companies, pulling some of the overwhelming majority from Silicon Valley and the Far East into EMEA market. '

Strange as there is no mention of Facebook or the work that is described in his headline, it is there further down the line, looks like he is someone that has been trying to get into Blockchain / Crypto space ?

With his link to Leinad this all looks far too chummy chummy for me & I would love to know how the valuation has been set as you could be cynical and say that they amount paid will through a web of company structure and consultancy fees wind up in Zorbas's pocket ?

All looks very similar to Nigel's latest venture, albeit in a different side of the world,

It reads like they are looking to design & build their own offering, which whilst an adjunct offering I doubt many in the business have any experience in, plus with etc new ' FB Heavyweight' being on a 12 month contract with a 6 month notice period means they need to get all the R&D work complete in a short space of time

as an indicator here is the link to Nigel's company. https://www.remotemonitoredsystems.com

Having read the RNS a couple of times I have to say my mood has been lifted, whilst not a signed deal the RNS certainly gives us much more detail on what is going on, something that under Minty was not happening, it also reads in a more pragmatic way and none of this ' transformational ' wording.

Seeing some of the comments here, and on twitter are very thought provoking about what some of the references are or could lead to.

For me this all points towards a scaleable business being built here with many different opportunities to progress, we aren't you're traditional O&G explorer with just a single asset to prove up, although we also have that in NFL but so much more than this.

Happy to hold, even at these crazy levels hoping that the 2 fields mentioned are concluded very shortly !

John, spot on, just hope anyone looking at anything hogan is linked with takes 10 minutes to look at his background and maybe his social media history. It tells you the full true story, not the blatant ramp attempts that now are failing as the majority of AIM investors feel like you & I do so won't touch anything that he is involved with or promoting - it's the biggest avoid sign in the world to me and the best way to protect your capital

Looks like we are pushing on today, should continue this week in anticipation of news post the San Fran conference

Just as a thought though, and thinking as an advertiser. I don't think that the advertiser would want to be committed or tied to a single platform, part of the Bidstack proposition is that the advertiser can have their ad placed on different platforms / games, it would also mean that while a shift in gaming behaviours and offering is afoot they don't waste money backing the wrong horse. Of course they could strike up separate deals with the different options but that's not really the way the big companies work.

While considering the direction of the gaming platform / changes in format, I think it would be wise to also think about how the potential clients of Bidstack / gaming advertisers will want to go as after all they are just as important to Bids as the games / platforms.

Which ever way you look at it the opportunity here is enormous, and from speaking to a friend who works at FM19 he is not aware of anyone else even considering doing what BIDS currently do

Interesting to see that the only thing actually happening here is that Colin has taken another day's pay from the company.

Funny how he only ever speaks in the lead up to a fund raising , then he scuttles off back to his cubby hole littered with empty bush mills bottles leaving the PI's to scratch around for translated updates on what might be happening