BNN Technology Share Discussion Threads

[perfect choice] 11/2/2018 17:02

Spot on redhill9 as expected, outcome from BNN share holders will be replacement with shares of acquiring company. If any remnants not acquired they will be left in the small private company which remains or maybe sold off elsewhere.

My thoughts on what may not be purchased in the football/Tmall type business versus the very different transaction engine based initiatives like mobile/motorist fuel/local government based services. The latter is the target to acquire I would say with the former being the add-on some bidders may not want. But in China politics play a role so may just be a necessary element of BNN an acquirer may have to take on? Just speculation but those are my thoughts.

[andy] 11/2/2018 15:13

Bergsy,

"These discussions currently centre around the acquisition of all or large parts of the Group."

That looks straightforward enough, although begs the question what happens to any parts not acquired?

I would be interested to know on which US exchange the potential acquisitors reside, I hope it's not the OTCBB!

[newbie17] 11/2/2018 14:51

Bergsy correct. There has been one offer on the table for some time. It now appears there are two interested parties.

[redhill9] 11/2/2018 14:23

bergsy, your interpretation is correct.

[bergsy] 11/2/2018 14:15

Balance 1 you post that BNN could be acquiring part or all of the US company , the way I read the RNS is the US companies bidding for part or all of BNN? I maybe reading it wrong,anyone else have a better understanding of this? No trolls please only sensible posters!

[redhill9] 11/2/2018 14:09

wetwestwales, on 19 October you said you were invested in BNN:

wetwestwales - 19 Oct 2017 - 21:16:12 - 8004 of 9572 BNN Technology plc - BNN

Just discovered this BB. Short term investor in BNN. Don't like what I am reading about prospects of recovery. It's been 5-6 weeks since listing suspended. No news. Do I admit defeat/loss or hope for sunny days ?

Then today you write:

wetwestwales
11 Feb '18 - 12:07 - 9567 of 9571 0 0 0

Redhill And11 Biro: I don’t have a grudge against DM. Never met the guy. Not invested. Not lost anything.

So which is it - investor on 19 October or not invested on 11 February, with no chance to have dealt in between. Are you confused or lying?

[highasakite] 11/2/2018 14:03

BNN couldn't get back on AIM as no Nomad would touch them with the crook Mercer being in the business. It is that simple.

[and11] 11/2/2018 13:49

Good post Balance1.

[and11] 11/2/2018 13:46

Hobnob1, l wouldn’t of thought so, as the American markets have a far stricter guide lines than aim....BNN have been for sometime trying to get onto the American market, where investors better understand the Chinese market. Aim was never the correct market for BNN & it’s business.

[hobnob1] 11/2/2018 13:33

westwet, BNN has made greatly exaggerated statements about its business propects, there are indications of improper bonus awards, and generalised corporate goverence issues, but it is not a ponzi scheme. A ponzi scheme is a specific kind of scam, such as the one operated by Madoff, wherby returns to older investors are fraudulently generated by revenue from newer investors.

Would be interesting to understand whether BNN avoided re-quoting on Aim to somehow accommodate Darren Mercer. In this case the new independent directors would be tarred with the same corporate govenence brush, and the company becomes uninvestible.

[wetwestwales] 11/2/2018 12:07

Redhill And11 Biro: I don’t have a grudge against DM. Never met the guy. Not invested. Not lost anything. But I know of people who have and I have heard a lot about DM. So from an independent position, I look at the facts: a CEO that has been globetrotting 1st class 6*, lavish lifestyle, at places most only dream of, and an extravagance that only billionaires would spend, certainly not things wealthy self-made hard working business men would spend on. Then I see his history; a guy who has never had a profitable company, has a chequered stockbroker history, an pub with ccj’s, and a ban from racing. Then I see BNN brought to AIM suspension because of financial allegations about DM and Qi. Qi cleared. DM not. PwC report kept secret. More allegations never aired. More bonuses and loans undeclared yet when exposed the board kicks the “investigation” into the long grass. 5 months on, without so much as a peep of info, on the very last day, the news investors feared. Delisting. And a scandalously bland no-detail RNS just to kick the scrutiny down the road. And no apology to all those that have lost money or whose investments are frozen or in limbo. Individuals who trusted in DM, borrowed money or put their hard earned savings into his DJI/BNN story. Who saw him lavishly spending it (oh and a cancelled wedding just as the chequebook was removed from his hand). And still we guess whether there is anything of the £27m cash left. No info, no Q3/Q4 trading updates, nothing. So all you investors are in limbo because of 1 man and his financial irregularities whilst CEO so serious it brought down an AIM listed company in 5 months. There is no-one else to blame. So that’s why I call it a Ponzi scheme; to tell a story, get people investing, funding a globetrotting billionaire-type lifestyle, and the company collapsed with nothing tangible left that you know of. It’s been a masterclass by DM. He is v clever and astute. But it was all set up to fund him and his lifestyle and he done good. But hey, that’s only my opinion . I don’t know him, haven’t invested, haven’t lost money. Just obvious to me. Sun up, early breakfast and a blast on the jet-ski now in order.

[charlesdarcy] 11/2/2018 11:58

Genises .

Good post and yes it’s the reason I invested the numbers are mind blowing and the potential is massive .
Unfortunately the ex CEO imploded by being greedy and living like he had already made his £50m by his paper value .
Sadly for us as shareholders he decided to act like a sole trader and not a CEO of a PLC and that is the main reason we are where we are.
The potential here in 2018/19 and the company run professionally this stock could of easily been a £4-5 pound share takeover .
But because of greed and ignorance and neglect I don’t see us getting 10% of those values today . GLA

[genises] 11/2/2018 11:27

China smartphone market forecast to increase from 785 million users in 2015 to nearly 1 billion users in 2017.
Chinese mobile-payment transactions doubled last year to USD235bn

This partnership has given the Group the opportunity to provide the technology to NewNet and Xinhuatong to facilitate mobile payments on the Xinhua Mobile app in up to 12 provinces with a total population of approximately 700 million people. The deal will allow the Group to generate commission revenues initially from the payment of utility bills, mobile top ups and traffic fines.

700 million 10 times the size of uk population,worth a lot to a mobile/bank corporation.

[redhill9] 11/2/2018 10:29

wetwestwales, when I read your posts I can sense you foaming at the mouth as you clatter the keyboard.

I said your reference to a Ponzi scheme is untrue, and it is.

Try to relax and enjoy the remainder of your holiday, sounds like you need it.

[birotop] 11/2/2018 08:06

He maybe a very bitter individual, but that does not disguise the fact that he is a muppet......

[and11] 10/2/2018 23:45

WetWestwales, answer my question from earlier please? You sound like a very bitter individual that has a serious grudge with DM... you say you state facts, which actually are just assumptions, not fact... who are you pretending to be... Please explain?

[wetwestwales] 10/2/2018 23:16

Redhill: oh really ! PMSL. It’s coffee time. Smell it fella. Read my posts. See the facts. BNN is a scam. Don’t believe me? Ok, here goes: £15kpm Mayfair apt, 1-2 luxury motors, Barbados and NY multiple trips, loans, bonuses, enquiries into non-declared retro-bonuses, other financial issues, huge wages, massive expenses, and no update on trading or cash reserves. That’s just a small amount of Mercer spend/trading. U happy with it ending in £0 value ? Follow the money pal, or go smell the coffee. Night night over there.

[redhill9] 10/2/2018 22:58

wetwestwales, one fact you have repeatedly posted that is untrue is your reference to a Ponzi scheme - you clearly don't understand what a Ponzi scheme is if you think it has any relevance to BNN.

[redhill9] 10/2/2018 22:56

Good posts dlm2602 and Perfect Choice. Such a relief to have some sensible posters on here.

[wetwestwales] 10/2/2018 21:53

And11: I ask again; tell me a fact I have posted that ain’t true ? Name one ?

[wetwestwales] 10/2/2018 21:49

Hey Birotop: 1st, I have told u I ain’t Welsh 2. It’s not wet where I am. 3 listen u utter n.o.b head, I know more about what’s happening than you. Think Madoff, think Ponzi, think scam, think losses. When u have thought, admit it’s over. Then go away.

[dlm2602] 10/2/2018 21:47

PC

Great post. It reminds me why I invested here.

I would add the following too.

The last RNS was very encouraging in many ways. MH could have easily played safe and just stated that the company were in discussions with two US companies that could lead to closing a deal that would be in the best interests of shareholders. The fact that he chose to add that any deal would greatly enhance shareholder value would be easily thrown back at him if this was not the case. Why therefore would he take the risk to his reputation to say this if he wasn't confident in the outcome? His arrival to BNN came long after DM was removed as an executive director so he has no allegiance with the old regime. He has had plenty of time to look in depth at the company and its finances and clearly he is happy with what he has found.

I know that there has been speculation on these boards that the deal could be a reverse take over. Given that MH suggests that the deal could involve the acquisition of a large part or all of the group I wonder if the two US companies are actually larger than BNN and are bidding against each other for the deal - thus the need to hire a leading US investment bank to negotiate the best price.

If I was short of BNN right now I would definitely contact JP Jenkins matched bargain facility and hedge my position. But I doubt any quote exists.

[perfect choice] 10/2/2018 20:12

Yes redhill9 looks like some shorters may be counting their chickens before they have hatched and have to wait longer which could be some time. That zero value assumption could now looking premature. But everybody I suspect just have to wait the outcome of these negotiations.

Feeling more comfortable on this potential deal and re-read old notes from the last AGM particularly by Wei Qi. Wei Qi is the key gateway to government which is so important in China. He worked for 20 years in the China government before joining BNN and I am sure is instrumental in the tie in with XNA and their official approved app. This alone would be a good reason for a USA company wanting to get into China commerce to tie up with BNN. BNNs focus has always been to optimise their transaction system for multiple markets and uses in China. Its the likes of Aibaba and Tencent which have come to BNN to help them during key events, where other transactional systems failed due to peak day volume, but BNNs didn't (that was noted by these players). Last year BNN helped Alibaba with 400 of their lottery stores, they came to BNN on a shared benefit approach. They have been used by both Alibaba and Tencent for major and big promotional events notably 11 Nov and 12 Dec + China Spring festival. These partners came to BNN due to their strong government ties (which is so important in China) and strong technology platform.

This is the sort of value a USA company can tie into and I'm posting this detail so people can be aware BNN actually does have some significant attraction to these USA companies. The question then is putting a value on it.

And where does the above information come from? Its not an RNS or Annual Report, its directly from Wei Qi in his answers to questions made at the AGM. If you don't attend you don't find out the finer detail like this.

My hope for the future is that the USA company BNN finally do a deal which brings in strong management with a track record of developing markets and technologies. I understand the companies in question are existing profitable revenue earning companies wanting to expand their reach in this case in China (or possibly beyond?). BNN management basically destroyed themselves at the worst time possible in my view. They have a proven transaction platform and had just started key agreements in new markets in China such as motorist and local government services, in their own right huge growth engines in due course. But take the local government services, it had only just been deployed to pilot regions as part of a 1.5 year rollout programme when all this blew up. Huge potential there but wasted with the BNN management then falling apart. In my view these USA companies have a golden opportunity to get into China through a government authorised route (i.e. XNA). Definitely worth decent value, but will only really know what that is when the deal is done.

So sit back and wait what deal is done. They are in final negotiations it seems as this has been going on for weeks. And to quote the RNS "We would like to reassure our shareholders that whilst the process of concluding these deals is complicated, these discussions have been ongoing for many weeks now and I am pleased to report that the considerable progress made to date, gives me the utmost confidence that a deal will be agreed soon"