MUL - Multiemedia Limited

[Knobby22]

Re: MUL - Where to from here?

My question on the buy is how profitable?
No one sells a gold mine.

No one in their right mind would buy until we see the annual report.

 

[IcUrPoint]

Re: MUL - Where to from here?

As a result of the acquisition, the previously announced Multiemedia financial forecast for FY06 is redundant

so what happens to cash flow positive by Aug 05????

 

[tech/a]

Re: MUL - Where to from here?

Its now redundant.

People actually shell out money to buy this company.

Spose if you bought at 1.3c and sold at 2.3c there is a drink.

Damned impossible to see a future amongst the smoke/mirrors and white lies.

 

[doctorj]

Re: MUL - Where to from here?

Q: What sort of idiot sells a business with NPAT of $5.4m for $13m ????

A: The kind of idiot who knows it is not going to earn $5.4m NPAT in the future.

Enough said.

 

[lescent]

Re: MUL - Where to from here?

Hey Everyone,

Don't forget that not only is MULs stock going to dilute to 2 BILLION shares
on issue, but that it's still facing a Supreme Court trial on 3 October, 2005 with a Breach of Contract claim for $46,000,000+, with a 2nd Supreme Court action against MUL also having been registered by another party, and with a 3rd separate party taking legal action for a 3rd separate breach of contract matter.

Let's wait for MULs Annual Report announcement in the next few days because me thinks it'll be another big LOSS !!

Make sure you check the NOTES section of the report where MUL will have to disclose these events.

Get ready for fun MUL shareholders. :goodnight

 

[IcUrPoint]

Re: MUL - Where to from here?

Adrian Ballentine has been named as the new defendant in switchcorp Case he actually had a QC and a barrister trying to keep him out of the proceeding.. shareholders need to be sure that MUL doesnt pay for AB's legal costs.

 

[lescent]

Re: MUL - Where to from here?

Wow ICURPOINT !!

Is it true that Ballintine is now a personal defendant in the Switchcorp & Ors v/s Multiemedia Ltd Supreme Court case, and that he has to defend multiple allegations of deceptive and misleading conduct at the trial???????

I'll have to pay my money and search the Court files for all the details. I'd heard that John Walker was also going to be issued with a summons so I'll have to check to see whether that's also happened.

Can Anyone Workout How Ballintine is Going to Get $13,000,000 to pay for the Newskies acquisition??

If Newskies Australia costs $13m within 60 days and $2m has already been paid and the issued capital of MUL has diluted to an enormous 1,700,000,000+ shares and there's still $11m to pay and the share price is currently only 2.1 cents per share and Ballintine advises the purchase will be made with no further debt raised, then:-

1. The next payment of $11m will require MUL issuing ANOTHER 524,000,000 shares at current price, diluting the issued capital to approx. 2,250,000,000 (that's 2.25 billion) shares. Man that means if you held 100m shares, you wouldn't even own 5% of the co.

2. MUL has approx. $7m left of its Equity Finance LOC, so that will probably be retired with another $4m worth of shares issued.

3. Alternatively, MUL might mortgage the purchase like it did with Airworks and then tell the market that no further debt has been created like it did with Airworks.

Also, if MUL can't make anything work in the Middle East and it sacked all its local salespeople recently, how will paying 2.4 times net profit for a local company help its pathetically woeful performance to date? Any ideas anyone?

Ballintine & Kellett can't seem to take any criticism about their actions because they're having a lot of posters and posts deleted from other forums in the past 2 weeks, so it's a sign of desperation and blind panic.

Does anyone else know what's going on? :goodnight

 

[IcUrPoint]

Lets Go back one step ...... remember this one???

Director Appointment
Document date: Wed 01 Mar 2000
Published: Wed 01 Mar 2000 11:30:59
Document No: 202909
Document part: A
Market Flag: N
Classification: Director Appointment/Resignation

MULTIEMEDIA.COM LIMITED 2000-03-01 ASX-SIGNAL-G

HOMEX - Sydney

+++++++++++++++++++++++++
STEVE VIZARD JOINS MULTIEMEDIA.COM BOARD AS COMPANY EXPANDS
INTERNATIONALLY

Leading Australian multimedia and Internet company, MultiEmedia.com,
has announced that Steve Vizard has been appointed to the company's
Board of Directors.

"I am absolutely delighted to help make a contribution to
MultiEmedia.com" said Mr Vizard today, "I am also excited to be part
of a venture with Microsoft's co-founder, Paul Allen who owns 3 per
cent of MultiEmedia.com."

MultiEmedia.com recently announced a strengthening of its management
team with the appointments of Shaun Levin from Artist
Services/Granada Media Australia and Jamie Bartels from Crown Casino.

This follows confirmation that Ian McRae, former Partner in Charge of
Ernst and Young's AsiaPac PeopleSoft Practice, will be the company's
new Chief Executive Officer.

According to MultiEmedia.com Joint Managing Director, Geoff
MacLeod-Smith, the appointments provide added expertise and valuable
business experience to support MultiEmedia.com's drive into Europe
and USA.

"The appointment of Steve Vizard and the establishment of a new
management structure offers a sound commercial foundation for
MultiEmedia.com to launch into global markets while also cementing a
leadership position within Australia.

"MultiEmedia.com has developed a range of products that have
attracted the interest of international organisations and we will
shortly open offices in Dublin and San Francisco to service these
emerging markets," Mr MacLeod-Smith said.

MultiEmedia.com's plans follow the announcement that it would partner
Computershare in its worldwide expansion plan. As part of the
alliance, MultiEmedia.com will become Computershare's preferred
supplier for outsourced web and e-commerce developments.

MultiEmedia.com has already gained experience in distributing
Internet and multimedia software into the Asia Pacific region through
it's current Executive Directors who have been involved in
information technology start-ups for the past 13 years and have
developed business links with some of the region's biggest technology
companies.

MultiEmedia.com recently took a 22.6 per cent share in Sportsview,
partially owned by interests associated with Mr Vizard and Mr Eddie
McGuire, which provides Internet and e-commerce facilities for
sporting organisations including several AFL clubs. "I am looking
forward to the growth and development of Sportsview with
MultiEmedia.com as a shareholder," Mr Vizard said.

For further information please contact:

Mr Geoff MacLeod-Smith
Joint Managing Director
Ph: 9508 7000

 

[IcUrPoint]

how about this one

http://www.itnews.com.au/newsstory.aspx?CIaNID=12587


Multiemedia bags $40m Iraq satellite contract
By Byron Connolly, CRN 12 November 2003 00:00 AEST Security


Australian broadband provider Multiemedia - in conjunction with its UK-based reseller Transcom - has won a $40 million deal with the US military to rollout two-way satellite services in Iraq.

Charles D'Alberto, national sales manager at Multiemedia, said the deal was brokered at the GITEX 2003 telecommunications trade show last month in Dubai. The company defeated European telecommunications provider Eutelsat to the deal, he said.





Multiemedia leases a satellite from European satellite provider New Skies. The satellite is located over Indonesia. US soldiers in Iraq would be equipped with a 1.2 metre satellite dish for transmitting and receiving data and a server which acts as a gateway. The server has an Ethernet port which soldiers could use to plug in a PC or laptop, he said.

The US military would be charged each month based on the amount of bandwidth that is used by the soldiers. 'The need for services in that region is immense,' said D'Alberto.

Transcom would be running a network operations centre from the UK which would monitor the satellite service and set up the clients, D'Alberto said.

Initially, the service would be rolled out at 20 locations at a cost of $5 million, but would eventually scale to 200 locations, D'Alberto said.

Multiemedia chief executive, Adrian Ballintine, said the service lets the US military communicate from anywhere in the Middle East.

'There is only one service provider in the region providing any form of satellite service and that is quite old. The US military will now be able to set-up sites across Iraq and simply, by pointing this dish in the right direction, will have Internet and communication service equivalent to anywhere in the world,' he said.

The service would eventually be used by the Iraqi community as power, water and communications services in the country come back online.

'The US military will be able to offer broadband services to the local community, to schools and to those helping establish law and order under their local governance provisions as well as enabling its soldiers to email back home and surf the net,' he said.

D'Alberto said the deal is the company's largest satellite contract to date. Other Multiemedia customers in the Middle East include The Central Bank of Iran, The Iranian Embassy and CallSat Telcom.

 

[IcUrPoint]

who can you beleive??

http://www.computerworld.com.au/index.php/id;161241436;fp;512;fpid;133331573


Multiemedia wins $5m Iraqi contract
Brian Corrigan, ARN

13/11/2003 12:14:50

ASX-listed satellite broadband service provider, Multiemedia, has won a $5 million contract to supply the US military with Internet and voice services in post-war Iraq.

Its two-way satellite service, operated in conjunction with UK-based partners Transcom, will be used to enable forces based in the Middle East to communicate with the outside world.

The contract will be funded by the United States Agency for International Development (USAID).

Winning the deal, initially for 29 systems but eventually expanded to 200, means Multiemedia has to open up its Newcastle-based Middle East and African beam by the start of December – a year ahead of its original schedule.

The deal was brokered at the GITEX 2003 telecommunications conference, that has generated orders from all over the region, Transcom CEO, Bill Smith, said.

Referring to the USAID deal as “the tip of the iceberg”, Smith claimed other customers signed up for deployments in the Middle East included the Central Bank of Iran.



[ Printer Friendly Version ]
[ Other stories about MultiEmedia ]
[ Other stories by Brian Corrigan ]

 

[IcUrPoint]

Re: MUL - Where to from here?

http://www.asic.gov.au/asic/ASIC_PUB.NSF/print/03-035+ASIC+makes+declaration+in+relation+to+Multiemedia's+market+disclosure?opendocument

Media and information releases

03-035 ASIC makes declaration in relation to Multiemedia's market disclosure

Monday 3 February 2003

The Australian Securities and Investments Commission (ASIC) has declared that Multiemedia Limited may not rely on the reduced prospectus content rules for listed securities until 26 September 2003, after failing to fully inform the market of major changes to an existing equity agreement with the ANZ Bank.

Multiemedia is a listed company, based in Melbourne, which is involved in the development and distribution of internet and e-commerce enabling tools.

Under Section 713 of the Corporations Act, Multiemedia had been allowed to use a reduced format fundraising document, on the basis that the continuous disclosure regime, which applies to Multiemedia as a listed company, would ensure that material information is provided to investors on a continuous basis.

ASIC made the declaration preventing Multiemedia from relying on section 713, due to concerns that the company was not meeting its continuous disclosure obligations.

Multiemedia had previously disclosed to the market that it had entered into a marketing and equity agreement with ANZ. The terms of this agreement were subsequently varied in July 2001, however, Multiemedia failed to disclose this information to the market until 26 September 2002, following discussions with ASIC.

This declaration means that Multiemedia must comply with the full prospectus disclosure requirements of the Act in relation to any prospectus it may issue up until late September 2003.

‘ASIC is committed to seeking greater compliance by directors with their Corporations Act responsibilities, and enhancing the timeliness and quality of continuous disclosure by listed companies, to ensure the market is properly informed’, ASIC’s Director of Corporate Finance, Mr Richard Cockburn said.


--------------------------------------------------------------------------------

 

[IcUrPoint]

problem is ASIC - to allow this con Job.

they knew about it all along

http://www.asic.gov.au/asic/asic_pu...a+provides+additional+disclosure?openDocument

02/356 Multiemedia provides additional disclosure

Thursday 26 September 2002

Following discussions with the Australian Securities and Investments Commission (ASIC), Multiemedia Limited (Multiemedia) today disclosed to the Australian Stock Exchange (ASX) that material amendments had been made to its previously announced equity agreement with the ANZ Bank.

Multiemedia is a Melbourne-based listed company that owns and invests in telecommunications, creative web and content, e-commerce and new technology companies.

‘ASIC sought today’s announcement to ensure that investors were fully informed’, said Richard Cockburn, ASIC’s Director of Corporate Finance.

Multiemedia had previously disclosed to the market that it had entered into a marketing and equity agreement with ANZ, under which ANZ had committed to pay any shortfall in minimum revenues up to a maximum of $1,800,000 per annum.

In July 2001, ANZ and Multiemedia varied the terms of an existing equity agreement and entered into a four-year loan agreement for $3,000,000, under which ANZ was no longer obliged to make-up any shortfall in revenue. The marketing agreement was not changed.

Multiemedia disclosed the ANZ loan, but failed to disclose the termination of ANZ’s obligation to make up any shortfall of revenues.

At the time of the amendments to the equity agreement, it was anticipated that the revenues contemplated under the marketing arrangement would be generated, but this has not happened to date.

Today, Multiemedia also disclosed information on an in-principle agreement with ANZ to settle these transactions, which it anticipates will be settled prior to 1 October 2002.

The proposed settlement will result in a net outflow of funds from Multiemedia of $600,000, along with extinguishment of the loan through bringing forward of the remaining minimum revenue commitments.

 

[zoop]

Re: MUL - Where to from here?

THE HAGUE, Netherlands--(BUSINESS WIRE)--Aug. 25, 2005--New Skies Satellites B.V. (NYSE:NSE), the global satellite communications company, today announced that it has entered into an agreement to sell its Australian subsidiary, New Skies Networks PTY Limited, which owns and operates two teleports in Adelaide and Perth, Australia, to Multiemedia Limited, a provider of next generation technology and communications services based in Australia, for US$10 million. The transaction, which is subject to customary closing conditions, is expected to close in late October 2005.
As part of the transaction, New Skies Satellites has agreed to purchase teleport services from Multiemedia. In turn Multimedia, currently a customer of New Skies Satellites through its NewSat satellite services division, has agreed to procure additional satellite capacity on New Skies' NSS-6 satellite, subject to the availability of such capacity. NewSat currently provides satellite broadband services on NSS-6 in Australia and the Middle East.
Dan Goldberg, New Skies' chief executive officer, said: "We are very pleased with the agreement with Multiemedia, a strong player in the Australia and Middle East satellite services sector. Our decision to enter into this transaction is consistent with our successful strategy of delivering complete solutions to our customers by working with partner teleports - as opposed to wholly owned teleports - around the world. We are confident that Multiemedia will continue to provide the high level of services that New Skies Networks has always provided and we look forward to continuing our strong business relationship with them. We intend to use the proceeds from this transaction to reduce our outstanding debt. In addition to strengthening our balance sheet, we anticipate the transaction will be EBITDA neutral to accretive, depending on our ability to supply Multiemedia with the satellite capacity they have agreed to purchase from us as part of this agreement."
Adrian Ballintine, chief executive officer of Multiemedia, said "We have invested heavily over the past few years in building a solid business foundation capable of delivering world class satellite services to our customers. Acquiring New Skies Networks two modern teleport facilities and experienced employee base greatly enhances our capabilities and will help us to continue to expand our business."

i wonder how much of a future liability the bold section will have to the poor shareholders.. :-((

 

[tech/a]

Re: MUL - Where to from here?

Randwick Race 5 No 2 MUL .015c 500,000 the win Spring Carnival.


Is at long Odds but late mail is it could burst out of the starting gates.
Heavy punting by owners (Balintine) isnt reflected by punters.Part Owners ANZ getting edgy at soring training commitments.Hasnt been known for going the distance in the past.Showing at country meets very mediocre and not catching the eye with punters.A few small showings O/S reciently saw an early plunge which amounted to nothing.
Being set for the Sping Carnival this will be at long odds,look for a short un sustained burst of speed when least expected,extra weight a problem---hard to fancy this--particulary when under the eye of regulators.

 

[lescent]

Re: MUL - Where to from here?

Zoop's Post with the Announcement from NewSkies perspective states:

"As part of the transaction, New Skies Satellites has agreed to purchase teleport services from Multiemedia. In turn Multimedia, currently a customer of New Skies Satellites through its NewSat satellite services division, has agreed to procure additional satellite capacity on New Skies' NSS-6 satellite, subject to the availability of such capacity."

Rather interesting because Ballintine made NO mention of this component of the 'deal' when he made the official MUL NewSkies acquisition announcement to the ASX and shareholders on 25/8/05.

Why did he exclude this very important 'deal covenant' which might prove another contingency ala the 'Sportsview Contingency Fiasco' from 2001? Sportsview led to headaches, write-offs, vendor settlements etc. and nothing much else to MUL shareholders.

Could this be another repeat?

Why is it that MUL announcements always appear so carefully 'word-smithed' and that MUL shareholders discover more details about 'deals' from announcements made by the other parties to transactions with MUL?

Also, how can MUL pay for the $13,000,000 cash purchase of NewSkies Australia by merely diluting the stock from 1.6 billion to 2.0 billion shares as outlined in Ballintine's announcement on 25/8/05 ??

At best this will only deliver between $8m - $9m which leaves more than $4m of the purchase price unaccounted for. If MUL has supposedly just become cash positive, I can't see $4m materialising within 60 days.

Any ideas or knowledge of what the heck's going on here. Sounds half-baked.

 

[lescent]

Re: MUL - Where to from here?

MUL's Latest Loss announced today > $12,000,000. :swear:

Accumulated Losses now Total > $81,000,000 Unbelievable !!

With 2 days to spare, MUL decided to tell the market 30 minutes before close on a Friday that its losses had INCREASED again. As usual they're trying to smother any bad news by hoping no one will see the announcement late on a Friday before an AFL-focused finals weekend.

With Ballintine now a personal co-defendent (as advised by ICURPOINT) in the Supreme Court trial scheduled for 23 November, 2005 and with MULs Losses escalating, there's going to be much to debate before MULs next AGM.

At least potentially one of the Supreme Court actions against MUL will be settled before the AGM, but there are other major court cases against MUL pending - which will spillover into 2006.

There's going to nothing left to recognise by 1/12 on a number of fronts.

 

[Knobby22]

Re: MUL - Where to from here?

Awful result.
The sole good thing I can see is the increase in revenues but the cost of sales increase by a greater percentage!
How does this company not get put into liquidation?

 

[tech/a]

Re: MUL - Where to from here?

When are people going to realise this is a DOG.

Ive followed this thread for 12 mths.
Its an absolute joke!
Speculation on news!
Wait until the next news release!
Heard a rumour!
Whats Ballantine up to!
Its all Ballantines fault!

losers back losers------

Lose on this and its YOUR FAULT.

 

[RichKid]

Re: MUL - Where to from here?

When are people going to realise this is a DOG.

Ive followed this thread for 12 mths.
Its an absolute joke!
Speculation on news!
Wait until the next news release!
Heard a rumour!
Whats Ballantine up to!
Its all Ballantines fault!

losers back losers------

Lose on this and its YOUR FAULT.

Tech,

Clearly the sp has been going south at a rate of knots but there will be some people who are emotionally attached to it and even if they can't bring themselves to face it we shouldn't rub salt in to the wound by calling them a loser personally- for some it may just be a one-off decision. You're obviously trying to do the right thing by highlighting a danger stock but those who have held this long are probably going to hold longer. Also your comments should not be construed as financial advice, who knows, if it pops up and someone sells before that they may blame you.

In fact if there are people worse off than current holders it is the people who buy into MUL now for the first time. Apart from daytraders I don't really know why anyone would buy it. Beats me- maybe it's 'informational asymmetry'!!

Just one more thing that keeps me away from being a complete funnymentals person.

 

[markrmau]

Re: MUL - Where to from here?

What's your favorite part of the report?

I like the bit about the NTA decreasing from .7c to .2c LOL.

Should have kept the short open, but it was just too risky with a day traders favorite like this.