Asg Media Share Discussion Threads

[uumode] 03/6/2008 07:55

yes, not a lot (after existing liabilities are taken off) 175,000 minus existing 119,250 liabilities = 55,570 for working capital.
"Meanwhile the Company continues to seek further funding to meet the Company's short term working capital requirement and longer term development plans."

How many months will 55k last? 3? This is looking like a real struggle to stay above water.

[anusol] 03/6/2008 07:33

well they have some funding, but not a lot is it? And 10% interest.... which loan shark did they get that from? One thing I find strange - they had a convertible loan at 8.75p a share and rather than convert it to capital, theyve renegotiated it into an extension at only 2.75p...... surely they should have given the shares out at the higher price?

All in all a real stink, and they are clearly struggling to survive day by day.... perhaps nothng new to any of us, but something has to change soon or else we may as well put the lights out and let it rest in peace.

Interested to hear other views this morning.

[california joe] 03/6/2008 07:03

Avanti Screenmedia Group plc

('Avanti' or the 'Company')




Funding update




The Board of Avanti confirms that the Company has secured commitments for a total of £175,000 through the issue of a convertible loan (the 'New Convertible Loans'). To date, £125,000 of the New Convertible Loans have been issued, and the remaining £50,000 are expected to be issued shortly. The Company has also restructured £119,250 of existing short term liabilities into convertible loans on similar terms, details of which are set out below.




The New Convertible Loans carry an annual interest rate of 10 per cent. and are due to be repaid or converted in 6 months. The New Convertible Loans are convertible at a price of 2.5p per new ordinary share which, if fully converted, will require the issue of up to 7 million new ordinary shares.




In addition, £200,000 of the convertible loans, issued on the 26 September 2007, (the 'Existing Convertible Loans') have been replaced by further New Convertible Loans with a conversion price of 2.75p which, if converted, will require the issue of approximately 7.3 million new ordinary shares. The Existing Convertible Loans were convertible at 8.375p per new ordinary share,




In addition current liabilities of £119,250 have been exchanged into two further convertible loans (the 'Secondary Convertible Loans'), on terms similar to the New Convertible Loans, which carry an annual interest rate of 10 per cent.. £59,625 is convertible at a price of 2.5p per new ordinary share and a further £59,625 is convertible at a price of 5p per new ordinary share, with terms of 6 months and 12 months respectively. If converted, the Secondary Convertible Loans will require the Company to issue approximately 3.8 million new shares.




In aggregate the New Convertible Loans and the Secondary Convertible Loans if converted in full will require the issue up to 17.85 million new ordinary shares representing approximately 30 per cent of the enlarged issued share capital of the Company.




Full details of the New Convertible Loan will be announced in due course, and details will be set out in a circular to shareholders that will also contain notice of a General Meeting at which shareholders will be asked to approve the issue equity pursuant to the New Convertible Loans.




Meanwhile the Company continues to seek further funding to meet the Company's short term working capital requirement and longer term development plans.

[rbcrbc] 31/5/2008 09:44

Joe, I was trying to be helpful, it was just with comments like:

"the company has said it will need some more cash, no big deal"

I was wondering how much business knowledge you had !!!

I have seen several posts here in the past asking why ASG dont publish how much these mall contracts are worth in revenue.!!

Again no offence meant.

[hope67] 30/5/2008 22:32

Well California Joe you dark horse I thought you were an american oil barron.
Only joking glad to see someone else is positive getting fed up with the constant moaning agree with your post 1322 and thank you Bronking for all your research.

[rbcrbc] 30/5/2008 17:55

Joe - do you understand the business model ?

The high profile 'clients' get paid BY ASG for the contracts, the revenue comes from advertisers.

[california joe] 30/5/2008 15:01

Faugh, the company has said it will need some more cash, no big deal, it's still bringing in business, it has some seriously high profile clients and I have no worries about them going pop. They will either merge, get taken out, get some institutional support whatever, but they will very unlikely wither away! And my comment is not an excuse, it's a fact. The MM's have a bit of stock about! Again, so what?

[faugh_a_ballagh] 30/5/2008 14:33

c/j

how come someone always has an excuse ???????????????????????????? except the right one.

[california joe] 30/5/2008 13:29

Nothing worrying there Argy, been a few more sells than buys lately, stock available to buy, thats all!

[argy2] 30/5/2008 11:39

Currently very well 'offered' with little or no size on the 'bid' which is a bit worrying.

[california joe] 30/5/2008 10:42

I think we should be due for an operations update soon. The fact they have installed new screens as per bronkings link above shows that they are still actively acquiring new business, so I do not see funding a problem whatsoever.
Not forgetting the directors themselves piled cash in last year, I am sure they would have been quite confident of getting it back! Avanti have quite a decent client portfolio that would make them an attractive take-over target even if they couldn't sort themselves out!

[cyclingnut] 29/5/2008 22:05

yeah...you might be able to pick up the assets on the cheap from the receivers....IMHO....

[slckjack] 29/5/2008 09:53

Great find Bronking!

Good news indeed!

[bronking] 28/5/2008 13:44

like i said "faugh" i only post when i have something to post about







A New Generation of Digital Signage for The Mall
Digital Solution Specialists, Avanti Screenmedia,
Have Installed 16 New Generation Infinite Plasmas Screens
Creating a State-of-the-Art Digital Media Display
---------
great news

i just wish i shouldn't have to scour the universe to find these things out

[bronking] 21/5/2008 16:24

Money Spinner - 21 May'08 - 11:42 - 1310 of 1312


Bronking.

Just picked this up from another place,whats your view...

FWIW..Does anyone think that there could be something going on in the
background with asg and dare i say it with sct.??

don't think so
simon and tom don't like each other i believe

[babylon3] 21/5/2008 16:19

worth a re-read...



Would be nice to have news on funding....

[mooo2] 21/5/2008 14:07

How can two doomed companies make one good one?

[money spinner] 21/5/2008 11:42

Bronking.

Just picked this up from another place,whats your view...

FWIW..Does anyone think that there could be something going on in the
background with asg and dare i say it with sct.??