MUL - Multiemedia Limited

[Knobby22]

Re: MUL - Where to from here?

Tech,


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

Hey!!
A person studying the fundamentals would not have touched it.
Read my notes, they are all on cashflow etc. and why you can't buy it.
You guys generally just follow what we fundamental analysis guys think and catch a ride!

 

[tech/a]

Re: MUL - Where to from here?

Hey!!
A person studying the fundamentals would not have touched it.
Read my notes, they are all on cashflow etc. and why you can't buy it.
You guys generally just follow what we fundamental analysis guys think and catch a ride!

Dont think we are seeing an arguement here with either Fundamental or Technical purists.

What we are and have been seeing is the best lesson I have seen anywhere in human psychology.
There are people here who are in this trade down a packet and ignoring whats blatantly obvious.
Emotion and fear of loss has complete control.
Commonsense,logic,FACTS and truth lie in a heap at their feet.
Have a read---you dont see statements of fact presented in any other light than HOPE.---if this --when that--wait for the next---

The lesson here for many is to accept their loss and move on.
If the loss is to painful then its a lesson well learnt.To some one poor error in judgement like this can take them out of the game.
The longer they stay in the worse their ability to handle loss becomes.
They develope an in ability to pull the trigger--both on entry and exit.

The damage a trade like this can do can be in some cases irrepairable.
It can destroy a traders ability to grow.
If your looking at losing say 80% of your free investment funds on a single bad trade like this---imagine your thinking if you were ever in the position to trade $100k or more in the market.---You wouldnt do it---you couldnt!

Most traders who are still in this trade and posting here on it have lost control of the trade---they lost it ages ago---the others who are new to the trade are in my veiw gamblers who ignore the facts.

This thread should never be lost it IS the best education a New Trader can get----all he has to then do is apply that knowledge---you'd think that was the simple part--obviously not.

 

[Porper]

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.

I don't think the thread is a joke Tech, in fact as you mention in a later post, it is possibly one of the best learning curves a beginner could have.

When I started trading/investing almost a couple of years ago, I was sucked into the hype on MUL on here without doing any of my own research, not even knowing about stop losses, risk management etc.Stupid ? of course, but this is how many people start investing unfortunately.

Through reading sound, knowledgeable posts on here, some of the excellent information on the internet and books we learn all the things we shouldn't do, which is more important than the things we should do sometimes.

I was lucky in that my initial capital to invest was very small so I only had to take a small loss on MUL, well worth the loss considering all that it taught me then, and still is, giving me the enthusiasm and commitment to learn more as I go along.

Sometimes it is better to learn the hard way.So I give the MUL thread the big

 

[lescent]

Re: MUL - Where to from here?

Highway to HELL......

$12,000,000 loss announced on Friday and another $11,000,000
to be raised to complete the Newskies purchase by October 26
with the shares on issue today at > 1,700,000,000 and going to
skyrocket to over 2 BILLION.........where's the money coming from ????

With MUL shareholders having already lost $81,000,000 of hard-earned
money, there's only ONE road that MUL can follow and it's all down.

Ballintine has much to answer for...... :swear:

Shareholders......start asking or the media will do the job for you.

 

[Anthony Hosemans]

Re: MUL - Where to from here?

Shares are probably going to be issued to Newskies as payment for the purchase. This will effectively be a merger rather than a purchase. That is why the increase in share capital. I can't see shareholders being put under the pump once again.It actualy looks like a good deal to me, and I have been following this stock for nearly five years, not just twelve months, and have made money many times in trades.
Regards Kooka.

 

[lescent]

Re: MUL - Where to from here?

Hi Kooka,

Good suggestion but it won't happen.

The deal to buy Newskies is CASH (as announced via the ASX) which means that Ballintine has to save his position and $2,000,000 of shareholders money
(which he alleges has already been paid as a non-refundable deposit
- more is going to come out about this) by magicing another $11,000,000
in cash by 26th October.

Shareholders should start a 'book' on the probability of success of this deal
or will it be just another deal that'll fail and be added to the pile of 5 to 6 other deals over the past 4 years that MUL told the market had been signed until they 'untold' the market about 2 months after each that the deals weren't actually going to happen.

What are the odds......place your bets.......don't be shy.

 

[IcUrPoint]

BAD Move by Ballantine

Adrian Ballantine could face further prosecution as a result of leaking sensitive information pertaining to the switchcorp case into their preliminary report

matters discussed in mediation is considered privileged and on without prejudice basis.

this is what Ballantine reported in their preliminary report


Note 25. Contingent Liabilities and Contingent Assets

The claim disclosed as a contingent liability at 31 December 2004 relating to the termination of the proposed acquisition of Switchcorp by Multiemedia is now set for a trial date of 23rd November 2005. On 24th August 2005 Multiemedia received an Offer of Compromise of $1.6 million in full settlement of the Plaintiff’s claim which was rejected. The Company has denied liability and the Directors are of the opinion that no loss will be incurred.

as if MUL shareholders haven't suffered enough

 

[markrmau]

Re: MUL - Where to from here?

More s/h suffering. 1,023,868,456 new shares.

 

[lescent]

Re: MUL - Where to from here?

Suffering Unlimited.

MUL tried to make a positive announcement about an agreement with Telekom PNG yesterday.
What a laugh, in the past 2 years the PNG Government has twice desperately tried to offload majority control (ie 51%) of Telekom for the princely sum of $46 million and it's crashed both times.
Telekom workers are on strike over a 'massive' 4% pay rise.
Telekom already has satellite offerings.

Seems that like-managed companies are attracted to each other.

MUL commits to buying companies when it doesn't even have the money and doesn't even tell shareholders the contingency plan of what happens if the $13 million Rights Issue announced today fails - other than it'll lose its $2 million non-refundable deposit - 90% of which it also had to borrow anyway.

With a potential 59% dilution of the share capital, and by offering the shares at 1.5 cents each, MUL have re-set the market price of the stock to 1.5 cents and below. MUL urgently needs shareholder support but certainly doesn't seem to care less about the pain and agony they dish-out to their shareholders.

It's funny how MUL have tried to squeeze the completion of this deal to occur just before it faces Supreme Court trial on 23 November. And then there are the other Court cases currently pending.....

Can't wait to see the outcome of this fiasco..........

 

[RodC]

Re: MUL - Where to from here?

If MUL doesn't care about their shareholders then why continue to hold their shares?

I can't understand why anyone would bother to buy (or continue to hold) such rubbish.

There are plenty of better prospects available.

Rod.

 

[tech/a]

Re: MUL - Where to from here?

Rod.

WHY
Its simple.

Many have losses so large that it would significantly wipe out their trading capital if they sold.
Its gone anyway and doing nothing to help them now--but its a lesson that needs to be learnt.


One day this thread will be made into a book!
"The MUL Prophecy's"
Trade your way to financial ruin.

 

[doctorj]

Re: MUL - Where to from here?

If you like to invest dangerously, its far more lucrative to do so in MUL's namesake.

I wouldn't think anyone who has recently participated in this thread owns any MUL and is posting for entainment only. Here's hoping anyway.

 

[RodC]

Re: MUL - Where to from here?

Rod.

WHY
Its simple.

Many have losses so large that it would significantly wipe out their trading capital if they sold.
Its gone anyway and doing nothing to help them now--but its a lesson that needs to be learnt.


One day this thread will be made into a book!
"The MUL Prophecy's"
Trade your way to financial ruin.

I agree tech/a, that trading capital is effectively wiped out already. Some don't seem to realise it.

Rod.

 

[lescent]

Re: MUL - Where to from here?

MULs Preposterous Prospectus Kicks-Off Tomorrow

Ah well MUL shareholder's, is there anyone out there silly enough to
subscribe to this titanic?

Does anyone really want to dilute this stock into the next decade
by buying non-renounceable shares at a price virtually the same
as current market price?

Where's the benefit in this Prospectus to the long-suffering shareholders?

MUL and Ballintine must be up in orbit with their satellite to expect
an investment anywhere near $15 million within a 2 week period.

Just in case the worst happens, Ballintine should start preparing the ASX announcements explaining why MUL has lost its $2 million non-refundable deposit when it can't/doesn't pay the Satellite purchase balance of
$11 million by 31st October, because I doubt that Newskies Satellite taking a fixed and floating charge over MULs Newsat Holdings will satisfy Newskies Satellites deal covenants unless they receive their $11 million payment.

Also, where's MUL going to get the $1.66 million to repay some loan to its former supporter, Findlays Stockbrokers?

It's rather clear that the writing's finally on the wall for MUL because time and strange 'deals' are finally going to catch-up with them by 31st October. Then MUL & Ballintine (who's a co-defendent) both face trial in the Supreme Court on November 23. The AGM thereafter should be unbelievable and represent a true validation of this chat-thread.

 

[ob1kenobi]

Re: MUL - Where to from here?

One day this thread will be made into a book!
"The MUL Prophecy's"
Trade your way to financial ruin.

I agree tech/a. I can't believe this thread is still going (for the record, I've never held shares in MUL)? Who knows, maybe they'll turn the book into a movie and make some money that way.

 

[Fleeta]

Re: MUL - Where to from here?

I went and saw the Enron movie yesterday, and it was a great flick on how not to run a company. I'm sure that this style of ignorant management practices goes on in Australia as well and its scary to think that we are investing in some of these companies where management is so hands off and too busy figuring out how they can get their next bonus or reconfiguring the corporate jet instead of making wealth for the company.

The funniest was when the CEO was asked the very simple question after announcing a record profit 'how does Enron make its money?' and couldn't answer it. To me, that would have been a sell trigger. I guess putting it in the context of this thread, all of the MUL shareholders out there should have been asking 'how is MUL going to make money'. The answer remains a mystery.

 

[lescent]

Re: MUL - Where to from here?

Yes Fleeta...what a great similarity !

All MULs shareholders should be asking Ballintine & Kellett - where's the
money going to come from if the Rights Issue flounders and the
October 31, 2005 deadline for payment of $11 million arrives and MUL is
$millions short to pay Newskies.

Will Newskies provide an extension after 31/10/05 or will they merely keep the $2 million non-refundable deposit already paid? If you read Newskies reports, they're as desperate for cash as MUL is !!

Anyway, if Newskies were truly confident of getting money from MUL when they struck the deal, why did they require a covenant that gave them a fixed and floating charge over the company for a 5 year period, even AFTER MUL had paid $13 million to buy the company ??? To me, that smacks of Newskies demanding security coverage for what they seem to consider a very high risk transaction. And anyway, what prudential management would buy a company at top-dollar and then allow the vendor to STILL have a 5 year fixed and floating charge over the company - it beggars belief.......unless one's desperate.

What will Walker, Ballintine & Ellison say to shareholders if it all goes belly-up after 31/10/05 when they as Directors of MUL, had committed the company to a $13 million + purchase when the company DIDN'T HAVE the money and they have potentially lost another $2 million of shareholders money if Newskies decide to keep the deposit ?? And don't forget - MUL even had to borrow the deposit.

Also, why did Ballintine state in a price sensitive ASX disclosure on 25/8/05 about the acquisition of Newskies Australia that its results as at 31/12/04 were $22.9 million in revenue and $5.4 million in net AFTER TAX profit, when the Experts Report included as part of the Rights Issue Prospectus (released on 28/9/05) states that Newskies Australia's figures as at 31/12/04 were actually only $16.778 million revenue and only $1.676 million in BEFORE TAX profit ?? Which is the true figure and who's going to believe any MUL figures when the differences are so HUGE !! Do you believe Ballintine or Pitcher Partners who have their entire reputation at stake ??

Yes, the second separate case against MUL started in the Supreme Court of Victoria today (you can check the court lists and see the details), so MUL is facing a trial in the Supreme Court on November 23rd, and the 2nd case will probably go to trial early next year.

A large group of shareholders are gathering proxies for the next AGM (if it occurs) to vote out the current Board and senior management of this hopeless company - make sure you give this group your support.

Let's just see what's left on 1 November, 2005.

 

[RichKid]

Re: MUL - Where to from here?

A large group of shareholders are gathering proxies for the next AGM (if it occurs) to vote out the current Board and senior management of this hopeless company - make sure you give this group your support.

lescent,
Have they got a website set up? If it's a large, serious group then they really should have a web presence. I don't hold MUL but think it important that sh's voice their views and make it easy to communicate with each other. If there is a site for the action please post it here.

 

[lescent]

Re: MUL - Where to from here?

Dilution....Dilution.....Dilution

MUL dilutes further by nearly 135 million shares to repay a $1.66m
loan to its sharebroker partner Findlays Stockbroker.

The loan was made so that MUL could pay a $2 million non- refundable deposit for its $13 million purchase of Newskies Australia. What a way to do business....borrow money you don't have to buy a business at 'top dollar' that you can't afford.

It's great for Findlays though because they got nearly 135 million shares at
just 1.24 cents each and funnily enough, the share price went up today to
1.6 cents/share (volume today is over 50 million shares) and possibly Findlays sell millions of its shares for an extremely creamy extra profit. All last week, the volume hardly made 10 million shares traded on any day.

Me thinks that the Rights Issue to raise $15 million is going very poorly and because it ends in 2 days some people want to make some quick money before it all evaporates.

Can't wait until Thursday to read MULs ASX announcement about how it all goes - should be the joke of the year.

 

[Bingo]

Re: MUL - Where to from here?

I assumed that the announcement to-day and the push to 1.6/1.7 cents was all about getting shareholders to subscribe at 1.5c. The amount of money involved to get the price to rise was not that great.

Still I am a cynic.

Bingo