MUL - Multiemedia Limited

[lescent]

Re: MUL - Where to from here?

You're Spot-On BINGO

Today, being the last day for participating in the totally worthless and unattractive Rights Issue...the shares are well off the
boil and MULs next announcement about the success or abject failure of the issue is going to set the scene for Monday 31st October, when MUL have to pay the final $11 miilion.

I wonder how many of the 1 billion + shares on offer were taken-up ??

Findlays (aka Starlight Nominees) have quickly tried to suck as much out of the market in the past 2 days with the 134,758,710 shares (ie. an 8% dilution of MUL) that MUL gave it on Monday.

augh...don't you just love it.

Have Ballintine, Walker & Ellison got their excuses ready....or is it going to be
another 'rabbit-out-of-the-hat, at a minute past midnight' special ?????

I reckon we know the answer to this one.

Be ready shareholders...........

 

[Gandlaf]

Re: MUL - Where to from here?

Just found you guys.

I am one of the suckers that purchased mul.ax at 0.05 cents per share.

From reading all you folks, it looks like I should write this off.
Do you agree?

 

[zoop]

Re: MUL - Where to from here?

well, if true to form, we should expect bad anouncements at 17:00 on friday.
or they leave it till melbourne cup day, which would be the perfect storm day, the cup, and the dictatorial/fascist (and oximoronic) anti terrorist bill goes into effect.

 

[lescent]

Re: MUL - Where to from here?

Typical Announcement from Ballintine today

Just as we all thought it would....the great, 'last hurrah' rights issue has been
extended until 4 Nov for the strangest of alleged reasons.....institutional
investment queries to cover the shortfall ???????

Funny thing that issue extensions are normally announced BEFORE their closure and not a day or so AFTER their closure....I think that tells you something.

Also, what institutional investor in their right mind would want to pick-up
the shortfall of an issue that's going to dilute the shareholding of a
company by more than 50% ????? It beggars belief and would be the
quickest job threatening position ever to take. And if you look carefully at
MULs shareholder registry...there are virtually NO institutions of any size or note there, so why would they suddenly pop-up now and buy 100s of millions of penny-stock shares that continue to decline in value?? What does Mr. Ballintine mean by 'institutional investors' - it's a VERY broad term ???

If the issue is NOT fully subscribed as is the expectation stated by Mr. Ballintine in today's announcement.......what will ASIC say about this statement. Why weren't the shareholders advised of how much the issue has raised so far?? Why is this information being witheld from shareholders?? What about the rules of continuous disclosure??

Desperation is showing here and time's running-out ever so quickly. With MUL
having a Supreme Court judgement handed-down by the judge against them last Friday (they're seeking leave to appeal), and with them facing a Supreme Court trial on 23 November.......events are truly conspiring against them and time's just about up !!

Check........Mr. Ballintine.......Your move.

 

[Kauri]

Re: MUL - Where to from here?

Might be a spelling mistake...instead of institutional investors they might have meant institutionalised investors..

 

[tarnor]

Re: MUL - Where to from here?

hehe...


Can't help but feel the same way about the release today, looks pretty desperate, the fat ladies been singing for a while now... must be about time to draw the curtains. :/

 

[Kauri]

Re: MUL - Where to from here?

I think Mul's big problem was that it failed to evolve the way most Tech boom companies did/are....

 

[Lucstar]

Re: MUL - Where to from here?

There is a big order at 14cents today.
My question is, who would be buying into MUL during such a poor situation?

 

[markrmau]

Re: MUL - Where to from here?

It might be a broker (which has a vested interest in MUL) doing MUL a favour. It will make people think it is worth taking up the spp. It wont be filled though.

Same thing happened with GGN - $300k+ buy order at 30c (spp was @30c). Now that the GGN spp cutoff date has passed, the order is gone.

I was going to participate in GGN spp (sold all my shares at 32.5c when it was announced), but then read last Fridays quarterly cash report.

 

[Lucstar]

Re: MUL - Where to from here?

Ill be happy to sell out at 1.6cents. Just wanting to get rid of the dog. But theres just way too many sellers wanting 1.6cents as well. Hope my shares can be sold by the end of the day

 

[Anthony Hosemans]

Re: MUL - Where to from here?

Just found you guys.

I am one of the suckers that purchased mul.ax at 0.05 cents per share.

From reading all you folks, it looks like I should write this off.
Do you agree?

I took up my rights entitlement. It's obvious that negative comments made on this company recently are made by people who have not even read the prospectus. The prospectus states in the advent of rights issue not exceeding, all application funds will be returned.Shareholders had nothing to lose, after all the company they are buying is running at a profit, and mutiemedias leasing costs will no longer be applicable, the company wins on two fronts. It's a pity people waste their time as no homework has been done.
Gandlaf, there is no point in selling at the moment, we will know in the next week or so, if this company goes bust, or it's the best thing since sliced bread. Having followed the company for the past five years, and made substantial funds in trading, I'm prepared to wait. Regards KOOKA.

 

[son of baglimit]

Re: MUL - Where to from here?

joe - is there gonna be a prize for the 1000th MULlethead to contribute to this MUL thread ? - funny, but it seems appropriate for so many contributions, considering how many pieces of worthless paper they have on issue - last count, it was actually exceeding the number of people who have claimed they backed makybe diva in all 3 cups !!!!

 

[IcUrPoint]

judgment against MUL

Desperation is showing here and time's running-out ever so quickly. With MUL
having a Supreme Court judgement handed-down by the judge against them last Friday (they're seeking leave to appeal), and with them facing a Supreme Court trial on 23 November.......

Hi lescent

could you please explain in general terms what was the substance of the judgment which was handed against MUL?

on what grounds are they seeking to appeal the decision?

kindest regards

ICUrPoint

 

[Bingo]

Re: MUL - Where to from here?

Typical Announcement from Ballintine today



Desperation is showing here and time's running-out ever so quickly. With MUL
having a Supreme Court judgement handed-down by the judge against them last Friday (they're seeking leave to appeal), and with them facing a Supreme Court trial on 23 November.......events are truly conspiring against them and time's just about up !!

Check........Mr. Ballintine.......Your move.

I have not been able to find this in the news for 22 October. Please point me to where further information is? Like Anthony Hosemans I have taken up my full entitlement and applied for additional shares. I am in for a fairly big bet on a rise back to 2c.

 

[lescent]

Re: MUL - Where to from here?

ICURPOINT here's the Supreme Court Judgement AGAINST MUL....

Please login to:

www.austlii.edu.au/au/cases/vic/VSC/2005/425.html

The entire judgement is detailed here.

Everyone that takes up the SPP - good luck, because if MUL reach
a $13 million take-up, you've just invested in a significantly diluted-value business whose MAIN subsidiary will have a registered Fixed & Floating charge over it for 5 long years.

Think about it, how would you feel if you paid top dollar for a business with
nearly 100% borrowed money (ie. shareholders money), and then AFTER you'd paid FULL price for the business, the seller then STILL had a mortgage over the business for another 5 years?????

It's the most preposterous deal I've ever heard of !!! :swear:

 

[lescent]

Re: MUL - Where to from here?

Oh by the way I wanted to be # 1,000

 

[IcUrPoint]

Re: MUL - Where to from here?

Oh by the way I wanted to be # 1,000

thank you for the link - more bad news for MUL

best wishes

 

[Bingo]

Re: MUL - Where to from here?

I note that the Appendix 3B released on 3 Nonember to the ASX was for 34,092,851 shares for a consideration of $600,000 descibed as "an equity line retirement". Does anyone know who this was to or what it was about as the price was 1.76 cents/share.

Seems a good price?

 

[Bingo]

Re: MUL - Where to from here?

ICURPOINT here's the Supreme Court Judgement AGAINST MUL....

Everyone that takes up the SPP - good luck, because if MUL reach
a $13 million take-up, you've just invested in a significantly diluted-value business whose MAIN subsidiary will have a registered Fixed & Floating charge over it for 5 long years.

Think about it, how would you feel if you paid top dollar for a business with
nearly 100% borrowed money (ie. shareholders money), and then AFTER you'd paid FULL price for the business, the seller then STILL had a mortgage over the business for another 5 years?????

It's the most preposterous deal I've ever heard of !!! :swear:

Could you please explain I thought the share issue was to pay for the purchase ie equity not 100% debt. I also assume that a fixed and floating charge is behind secured creditors and is a general security for a debt. Doesn't seem that odd.

I am probably missing something.

 

[lescent]

Re: MUL - Where to from here?

Originally Posted by pro-MUL, Rights Issue Purchaser - Bingo........
Could you please explain. I thought the share issue was to pay for the purchase ie equity not 100% debt. I also assume that a fixed and floating charge is behind secured creditors and is a general security for a debt. Doesn't seem that odd.

I am probably missing something.

Aaahhh Bingo....yes unfortunately you have got it right wrong.
Go back to the Prospectus and other announcements and re-read them and you'll hopefully see the light of day.

In a nutshell, MUL are attempting to buy a business via dilutory equity and instead of owning that business outright as you'd expect after paying top dollar for it, that's NOT the case at all. Newskies will still have a fixed and floating charge over the business for another 5 years even though they won't legally own the business if the transaction finalises on 8/11/05.

If you don't see that as odd ????????

Anyway pro-MUL Bingo, what's your odds on MUL finalising the transaction on
Tuesday - we'd all love to hear?