2781 days ago
It was rather inevitable but I bring you below the Companies House Notification which confirms the good news, the worst company on AIM, Motive Television (MTV) is now officially a dead parrot. Naturally what actually happened is nothing like what Motive told its moronic shareholders.
3856 days ago
I gather that Bulletin Board Morons (Motive Television (MTV) chapter) are begging the company to sue me for libel after this piece yesterday. Bring it on. All that I did was point out that the company was technically insolvent as at June 30th and will run out of cash imminently. The facts speak for themselves. But this begs the question: which company will sue me for libel next and so I invite you to vote in a reader poll.
4002 days ago
Once again, AIM Listed Motive Television (MTV) has announced that it has issued new shares. Clocking the RNS statements since interims were published in September there have been no less than 15 RNS announcements entitled “issue of equity or placing”. And Motive has also issued some convertible loan notes. That takes some doing.
So why issue more shares? The latest release says that it is “in response to institutional demand” Oh please…..Is the correct urban phrase LFMAO? The exact wording of the release is:
“Motive Television is pleased to announce that, following interest from institutional investors in the Company’s announcement yesterday relating to the Company’s development of its Tablet TV technology for the UK Freeview platform, it has raised £500,000 through the issue of 3,333,333,333 new ordinary shares of 0.01p each at 0.015p per share (“Placing Shares”). The proceeds will be used to fund an accelerated programme of development for this product and for general working capital purposes. The board has considered the Company’s overall medium-term funding needs very carefully and, given the high level of interest in this development in the UK market and its anticipated value in terms of future sales and profits, it has decided that this fundraising is in the best interests of increasing shareholder value.”
Yeah right. The shares were at 0.03p and institutions were so wowed that they offered to snap up a big line at 0.015p which saw the stock slump to 0.02p today. There are now almost 14 billion shares in confetti-chase PLC in issue.
