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BNN Bnn Technology

42.00
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bnn Technology LSE:BNN London Ordinary Share GB00BNBNSF91 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 42.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
41.00 42.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 42.00 GBX

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BNN Technology (BNN) Discussions and Chat

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Date Time Title Posts
25/3/202408:19BNN Technology plc21,673
18/9/202311:15BNN contact-
21/8/202316:07BNN & FCA3
11/6/202208:46Mercer’s liquidations-
25/8/201712:07shorting3

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BNN Technology (BNN) Top Chat Posts

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Posted at 25/3/2024 08:19 by sundowner2
What’s the latest on Tingo .
Has Mercer got brought back into investigation .
BNN been left with no accounts update let’s hope everything gets connected as millions went missing in BNN .
Posted at 14/3/2024 07:58 by sundowner2
The guy orchestrated this thing from start to finish the Nigerian side completely lost control of the scam even for Mercer and he jumped ship .
But something still doesn’t add up why Mercer is not being prosecuted and he must of snitched on the Nigeria fraudsters as the FBI always look for the big bosses and not the runners .
I still the think his world will collapse with White Prison can be a lonely place especially if you are inside and the rest are living it up .
BNN was a fraud no different to Tingo and I keep saying it BNN has not been tidied up is why company is still floating around .
Posted at 21/2/2024 07:18 by sundowner2
TIO , to be de-listed from market resemblance to the BNN fraud .

Lots of questions to come for all involved in TIO just got to get BNN connected
Posted at 03/2/2024 18:22 by genises
Previous Bnn coms
4th May 2020

FROM THE CHAIRMAN, MARK HANSON

Following the Company’s update on 3 May 2020, I have received questions and requests for clarification from a number of shareholders. I am pleased to share my responses for the
benefit of all shareholders.

Q. What does the Company continue to own?
A. I can confirm that BNN owns all the operations and assets that it did when it entered into the original transaction with Global Fintech Holdings (GFH) and ParagonEx. Prior to then, the Company’s trading activities had been restructured and streamlined in preparation for a corporate transaction or asset sale. To this end, the business comprises three core divisions:

Lottery Software and Games - developing new games for the Chinese lottery market. The division presently has two games progressing through the process for regulatory approval.
The first, a virtual ice hockey game, is now awaiting final approval from China’s National Sport Lottery. The second, a keno-based game, has been approved at provincial level in
Gansu and is also awaiting national approval. Each of these games will replace existing games which have historically generated significant revenues and, once approved, will be
rolled out across a number of provinces.

Technology and Operating Partner - our proprietary technology supports the official websites of the Beijing Welfare Lottery, Shanghai Welfare Lottery, Guangxi Welfare Lottery,
Heilongjiang Sports Lottery and Gansu Sports Lottery. In two of the provinces, we have partnered with a number of large Chinese banks to exchange customer loyalty points for lottery tickets.

Self-Service Lottery Terminals – Since 2012, BNN has been at the forefront of developing lottery terminals in China. The Company has delivered several major upgrades in payment systems for the lottery sector, allowing players to purchase tickets on either lottery terminals or their own mobile telephones, as well as printing winning tickets. On 1 July 2019 we announced a nationwide technology, promotion and marketing contract to support the roll out of a leading-edge lottery platform with one of China’s largest retail groups. This opportunity has not been progressed whilst we have been focusing on the completion of the listing, we will now however resume the roll-out whilst we are waiting to complete a
new takeover or other corporate transaction.

Q. What is the Company’s current strategy for delivering shareholder value
A. The Company owns several valuable businesses, contracts, licenses and assets, which the Board is very confident it can realise significant shareholder value from. There are a number
of options for us to consider and we have several opportunities to pursue, including takeover deals, as well as business and asset sales and also strategic mergers.
As Chairman I am personally leading these discussions and look forward to updating shareholders on progress as soon as is practicable.

Q. What are the staffing levels in China
A. Following the completion of our streamlining exercise and cost cutting programme in 2018/2019, we now employ 73 staff in China, which support our three core divisions. With
our focus on technology and online activities, the Company is highly scalable without the need for a large workforce.

Q. What is the status of the audit of the 2019 financial statements
A. The audit of the BNN Group accounts for 2019 is currently underway. The audit of the trading subsidiaries would have been completed as part of the GFH audit, had the transaction completed, whereas BNN is now undertaking the audit in its own right. The audit is being conducted in accordance with US GAASs, which are more stringent than IAASs, with the objective of presenting the business on a more compatible basis with
potential buyers. We are advised that the process will take longer than would ordinarily have been the case due to the severe impact of COVID-19. We will inform shareholders
when the audited financial statements are filed.

Q. How has the Company’s cash balance been impacted by the terminated transaction
A. As can be seen from the audited accounts at 31st December 2017, which was prior to the announcement on 26th June 2018 of our intention to pursue the deal with GFH and ParagonEx, the Group had £20.7m of cash and £19.5m of current liabilities, of which the latter included £10.8m of bank debt that was repaid in 2018, as well as a convertible loan note of £5.8m. Net cash was therefore relatively low. We alerted our institutional investors, other major investors and their representatives before embarking on the GFH transaction in 2018 that we would incur significant costs if we were to pursue what was a highly complex merger. This was met with their full approval and support, as well as their funding pledges. I appreciate how extremely disappointing it is to all the Company’s investors, as it is to me and my colleagues, that the GFH transaction has terminated, in particular as we were so close to completion. With the world’s financial markets impacted so severely by COVID-19 in February and March 2020, which caused the withdrawal of our cornerstone investor, it simply wasn’t possible to salvage the deal. As mentioned in our announcement of yesterday and also above, we are however confident of securing and completing an alternative transaction, once conditions allow, that will deliver significant shareholder value. I look forward to updating all shareholders on our progress in this endeavour in the coming weeks.
ENDS


30th July 2020
FROM THE CHAIRMAN, MARK HANSON
Dear Shareholders
Further to my previous communications of 3rd and 4th May 2020, as we approach the end
of July I am pleased to provide a further update as set out below.
As mentioned on 3rd May, despite the very challenging market conditions and economic
back drop, we hold a high degree of confidence in relation to achieving some form of
corporate transaction that would realise significant shareholder value. We mentioned at the
time that we would progress such opportunities as soon as market conditions improved and
allowed.
Whilst it remains a very challenging environment, especially for any deal requiring new
funding, such as ours, we have been able to make meaningful progress with several
potential opportunities. The most favourable of the options available to us involve a
takeover of the Company’s, business and platforms, including those relating to its lottery
business which remains intact, and/or its trading subsidiaries, which would result in BNN
shareholders receiving shares listed on a recognised stock exchange. Such deals are
expected to give BNN shareholders the opportunity to realise their investment in the future.
In terms of timings, the current climate and circumstances makes the process a slower
process than it would have been pre COVID, amongst other things in relation to interested
parties performing due diligence in China. I can, however, report that meaningful progress is
being made and that we hope to complete a transaction during the fourth quarter of the
year.
At the same time as progressing the potential corporate transactions, the Company’s
management team and work force in China is continuing to develop the business and seek
opportunities to further enhance shareholder value and make the business more attractive
to buyers. In alignment with the interests of shareholders, all management, including
myself, are highly motivated and interested to maximise shareholder value and achieve a
transaction that gives all shareholders the opportunity to realise such value at some point in
the future.
Once we have more clarity on our preferred way forward, we will consult with our largest
investors/shareholders to seek their views. We will, of course, update all shareholders as we
receive further news over the coming months and we will also convene a General Meeting
once we are at the stage of proposing any to shareholders.
Whilst writing, we are keen to clarify certain points in response to some of the most
frequently asked questions that have been put to us, which are as follows:
1. The Company’s accounts for the year ended 31st December 2019 were filed at
Companies House on 30th June 2020 and should be available to download from the
Companies House website within the next few days.
2. The Company has retained all of its businesses and trading assets, including all those
relating to its lottery business. It has not transferred or sold any businesses or trading assets
to GFH or MICT
3. The Company has licensed part of its payment technology to GFH for use in Fintech
applications, in return for a licence fee. The Board considered this to be in the Company’s
best interests as it generates additional income whilst also strengthening its relationship
with GFH and its value as a potential acquisition in the future. The Company retains the
right to continue to use the licensed technology in its own business operations and has
retained exclusivity over the technology in the lottery sector.
4. The Company sold its holding of 1,363,000 common stock of MICT Inc to GFH on 18
May 2020 for $1,800,000, which equated to a price per share of $1.32 (compared to the
share price at the time of $1.15), satisfied part in cash and part in the satisfaction of debt, so
as to generate urgently required working capital, which became necessary once its external
investment and takeover transaction had fallen through.
5. The current UK operating costs of the Company total less than £100,000 per annum
(including Directors’ remuneration). As a Board we are fully committed to controlling costs
as tightly as possible.
I look forward to updating all shareholders again in due course
Posted at 31/1/2024 23:03 by genises
BNN isn't named as this is a merger which included BNN trading companies under name of Beijing Brookfield. Previous was acquisition agreement including BNNplc and that acquisition agreement has been terminated in favour of this merger (stated on page 3 of current report in SEC filings)

No sign of any payment for acquiring Bnn platform
What I expect is the companies being wound up.
How do we know if the 2017 &2018 account are accurate with what’s been going on at Tingo not as if the auditor is going to go to china
Posted at 31/1/2024 22:14 by genises
So to read through the smoke and mirrors - Mercer has bought himself a position at MICT inc and effectively they will pay him via the investors funds that have been transferred from BNN.
Not sure how he can help with relationships in China as I would have thought most prudent companies would have taken contingency measures and changed suppliers as the BNN car crash became the saga it is today.
Shareholders are still hung out to dry with no sign of any hope of recouping their funds.
Update will be provided in the near future - meaning " I will continue the scam that has been going on with your money as long as I can get away with it"
Mercer still living it up as spotted in London this week and most likely wining and dining as usual no doubt on expenses that we the shareholders are funding.
SCAM !!!!
Posted at 26/1/2024 19:30 by skin18
BNN could not continue to fund the Chinese company, Beijing NewNet, a wholly owned subsidiary (via a complex structure), which was BNN’s main vehicle in China. Consequently, BNN has relinquished any rights over NewNet, which is now owned by Wei Qi and the other Chinese executives. So BNN now has no business in China. Wei Qi reports that the company is making money in the lottery space – quite ironic as the BNN shareholders will derive no benefit from this.
Posted at 25/1/2024 22:47 by sundowner2
Yes it is clear a lot of the so called money never existed but it allowed time for share price manipulation taming up the share price then shorting it .
We were all fed total lies whilst the company was run illegal . The ex finance directors who jumped ship whilst BNN was still trading should also be prosecuted as they knew what was going on and have not reported to the authorities
Posted at 25/1/2024 13:08 by genises
Just in case the website disappears
Dear Shareholder
Further to our update on 30th June 2022, we are pleased to report the updated position of BNN Technology PLC (the “Company”; or “BNN”) and the status of our business-sale transaction, as set out below.
Since the date of our previous update, both China and Hong Kong have continued to endure Government enforced travel restrictions and Covid-19 lockdown measures. The strict rules and lengthy quarantine requirements have made travel very difficult, both within China (between certain provinces and cities) and internationally. The lockdown measures have also resulted in widespread office closures, which has not only impacted on access to our own offices but also to the offices of our advisors and the purchaser. These factors have significantly hampered and delayed our transaction, preventing site visits and the progression of our buyer’s due diligence for several months.
Nevertheless, we have continued to trade well, as more customers convert from making in-store lottery purchases to instead utilizing our online-to-offline lottery ticket platform. Through the growth achieved during 2022 we expect to report significant year on year increases in revenues and profitability.
It should be noted that the strategic partnerships we had hoped to complete by now have been delayed into 2023, and we aim to close and sign these as soon as possible after Chinese New Year.
Following the relaxation of the Covid-19 rules, our buyer’s due diligence and the wider transaction process have recently recommenced and the parties are now aiming to complete as much as possible of the remaining work by Chinese New Year (on 22nd January 2023). The balance of the work will then be completed within a short number of weeks after the New Year holidays, followed by the issuance of a Proxy and Notice of General Meeting during the second half of March.
Whilst waiting for further news on the transaction, shareholders can take encouragement from the business’s positive trading performance and profitability. We look forward to updating shareholders again, which we will aim to do by end of February 2023.
Posted at 27/12/2023 20:11 by skin18
The company who acted as Company Secretary for BNN resigned from their post, and as BNN used their registered address, they had no choice but to move their register office.It was Gateley who told me that there was no proposed takeover of BNN before they resigned.
BNN Technology share price data is direct from the London Stock Exchange

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