Minorplanet Systems Share Discussion Threads

[503831rct] 21/6/2010 11:56

Another nail....

[andre] 21/6/2010 09:05

And then the advisors and brokers resign.....

18/06/2010

Minorplanet Systems plc ("Minorplanet" or the "Company")

NOMAD Resignation


Minorplanet announces that on 18 June 2010, the Company's Nominated Adviser,
Shore Capital and Corporate Ltd and the Company's Broker, Shore Capital
Stockbrokers Ltd, have resigned with immediate effect.

The Company will make further announcements as and when appropriate.

[andre] 15/6/2010 16:33

Hi Orange1 - enough said I think.

Though TFC were never really a tracking company. Like Road Angel they just rode in on the wave of their name having set up to do something different altogether.

No news from MPS may mean that nobody is getting paid so they don't care enough to tell the PI or market anything anyway.

It is a shame when capitalism shows its ugly side as it has done here for many years. But that is what AIM is about I guess. Smaller, less regulated and riskier.

All IMHO.

[orange1] 14/6/2010 19:49

Andre
Don't forget TFC in your list of trackers. They too are about to exit the market at a price if the deal goes through which does little for the shareholders but a lot for the directors.

[the diddymen] 14/6/2010 16:23

It beggars belief that there are any PIs left in this share. Its distress was well flagged up. Unfortunately there will be some PIs because despite the flow of bad news there were very few trades going through in January. I was equally amazed that posters were still supporting the shell. Hopefully not too expensive a lesson!

TD

[andre] 11/6/2010 19:43

Hi mudbath.

It's always nice to know that you are not talking to yourself - which to be honest I have thought I was many times over the years here. This has been a stock where few PI's have made money but previous management has made a killing in salaries etc. from a failing business which has been failing since it listed many years ago. The juxtaposition between talent and salary often displays a great chasm indeed.

The end of MPS is effectively the end of tracking companies on the stock market. CYH gone private, EIT shamefully privatised by their management in a legalised scam. Now MPS died the death of 1000 cuts to the private investor. The bleed-out was long indeed. So much potential from so many companies turned into such a damp squib. The question is why? This is technology. It should be the future. The question is why did EIT, MPS, CYH et al all under-perform so greatly. Were the expectations too high? Maybe. Were the valuations too high? Definitely. Were the barriers to entry too low? Probably, in the end.

But the end of tracking on the market does not indicate the end of technology or telematics itself here. It does show that in every gold rush there are crooks ready to take the unsuspecting (and fools who can easily be persuaded to part with their hard earned cash). And that bad business models even in good industries do not good businesses make. But I predict that the next phase will be those with better business models and management. Probably not vehicle tracking (although penetration of its potential remains seriously low).

So watch out for telematics related companies in the future. Suppliers of shovels to the this market have done well privately as have the diversified and niche marketeers. I think the future is bright for technology, telematics and M2M (machine to machine) businesses. It's just a shame that what has transpired so far has not represented the potential or the future of these markets. Thieves, crooks and poor management saw this wave off. The next one however.....

All IMHO of course.

[mudbath] 11/6/2010 10:24

Andre.
One final BIG thanks from me for your insight regarding MPS.
You encouraged my exit some four years ago and kept me out each time I wonderered if there were any value to be had.Well done!!
Mud.

[andre] 10/6/2010 16:55

And it is finally game over at MPS.

Minorplanet Limited (UK branch and basically the only part that MPS ever had any obvious handle on, cost-wise) goes into administration. MPS2010 assumes all the assets including the IP. Digicore take a 25% stake in MPS2010 for £300K plus a £2.7M loan. They then install their finance guys in Leeds to keep a close eye for defaults on the many terms and conditions of the loan.

Very shortly afterwards, Digicore recall the loan due to a default of the terms on the part of MPS (Digicore probably didn't actually let go of any of it anyway) - which explains the £3M value that they seemed to be attaching to the company when the market cap was £0.4M - they actually valued it at £0.3M. So they end up paying £0.3M and walking away with all of the shares in the UK company. Or maybe they don't even pay Terry back in which case the cost could be zero!

What did small shareholders get out of this? You guessed it.

And MPS? - left with loss making offshore business and no funds to keep it going. It is all over. The dog is finally dead.

All IMHO.

[cockneyrebel] 09/6/2010 07:40

The best laugh then Mudbath is that Hatetrader pumped STL for ages under his previous handle (one of them anyway) as Daydreamer.

Complete penny pump and dump clown he is, never in anything that's over a few pence as he knows he can sucker the mugs into near bankrup toot and get out quick, leaving them holding the baby.

CR

[cockneyrebel] 08/6/2010 14:38

RGT tanking HateTrader - you've been found out lol.

At last all the mugs you sucker into illiquid penny shares have you sussed my old son.

This suspended, RGT tanking, MUBL chart fallen over.

Good job you get that weekly giro! lol.

CR

[induna123] 08/6/2010 13:54

I'm not crowing btw. To be honest I've had it with these tiny microcaps, too high risk at the moment. I'm still in three, IGD, MHG and PAQ. There's a doubt over MHG and PAQ and IGD both suspended.

[induna123] 08/6/2010 13:48

I wan't going to mention this but I did sell my 10k here for a small profit about a week ago. I bought in with the Digicore story but after a couple of days I decided it was too high risk and sold. I think I've had a lucky escape here.

[cockneyrebel] 08/6/2010 13:30

Pumped and dumped by HateTrader - another penny dreadful he's mugged the punters into, dumped and left them holding the baby - RGT next imo - they have no cash generation and live day to day by placings - be warned everyone on ADVFN - if Watchout2 (HateTrader) is in it, you better get out of it!

Scum of the scum imo..

CR

[cockneyrebel] 08/6/2010 13:18

Suspended pending 'clarification of their financial position'

Looks like you are getting a reputation as the worst Jonah on ADVFN that ever existed - RGT suspended next I expect lolol.

CR

[watchout2] 08/6/2010 12:50

You might be right now andre !

Just been suspended, have to see if that is end game !

[andre] 03/6/2010 10:10

So Digicore gave them 300k for working capital. Similar to the 300k that Terry Donavan loaned them at (I remember) 8% over base rate - this is carried over to the new company. They burned through that in about 3 months and paid 50% salaries two months running, I heard, because they didn't have the cashflow.

Most likely scenario IMHO is that Digicore let them go bust now, take over the business for no further money from the administrators (as they will have secured the loan on something, hold all the IP anyway and are the only feasible way to keep the current customers tracking) and walk away with some IP that they may need plus all the ongoing customers who may re-sign new leases in time with Digicore.

And if this happens then shareholders get nothing from the administrators IMHO. I can't see any reason at all to keep MPS going as far as Digicore is concerned.

Cost to Digicore £3m for all of the assets of MPS. Value to shareholders - £0.

All IMHO.

[watchout2] 01/6/2010 12:35

Yes, spamming loads of threads cliley wont make me buy the stock, it will
make people more determined to avoid the stock.

Would imagine that the traders now out of this stock, it took very little
volume to move it up and the mm's have been bailed out today when they had
almost no stock.

At the end of the day Digicore look certain to buy a 30% stake for 12p a share
paying 3 mil in the process so there must be value at the current price.

Was almost impossible to buy earlier, now 10k online at 7.89p which is a lot
better than 9p.

[catswhiskas] 01/6/2010 10:47

Indeed I have and I will be avoiding this like the plague !

[cliley454] 01/6/2010 07:57

It's quite simple.
DO YOUR OWN RESEARCH!