Cellcast Share Discussion Threads

[21st century media company] 24/1/2009 23:09

rascal

thank you

[the analyst] 24/1/2009 23:00

rascalhardin,

Could you let know us which of these companies MN was acting in a non-exec role?

Cheers

t.a.

[rascalhardin] 24/1/2009 22:04

LDMachin,

Your post 1526. Yes, minority shareholders in WTV are annoyed that we are unable to trade our shares, but there is more to it than that. There has been massive dilution of shares due to the loan note - Your company also has a loan note. And Mike Neville, when he was working at WTV disposed of a subsidiary, Kamera AG, for thousands of pounds when it was clearly worth much more. Three years later Kamera was sold by the anonymous beneficiaries of the disposal (who WTV referred to at the time of the disposal as "high profile investors") for millions of pounds.

WTV minority shareholders do not think that Mike Neville was acting in our best interests when he disposed of Kamera. And we are deeply suspicious of his role at FLX, MNT and Crucial Plan. There comes a point when the circumstantial evidence against Mike Neville becomes overwhelming. It surely cannot be coincidence that he is involved in so much reduction in shareholder value and so many alleged breaches of Stock Exchange regulations - please see Minmet header.

You need to ask yourself if Mike Neville is a non executive Director on your board to benefit shareholders or whether, as was the case with WTV, Minmet, FLX and Crucial Plan, shareholders appear to have been the unwitting victims of a number of rather obscure actions by Mike Neville and his fellow Directors.

The Minmet thread gives a very good clue to the type of person which Mike Neville is. The company has been the subject of numerous lurid allegations about the alleged diversion of shareholder funds. It has been severely criticised by the regulator for numerous breaches of Stock Exchange regulations. And the shareholders of Minmet have referred a long list of allegations, with supporting evidence to the Serious Fraud Office.

What does Mike Neville do? Does he order an inquiry? Does he try to answer investors concerns, apologise for the breaches of regulations and try to rectify them? No, he carries on as if nothing has happened and even issues an RNS about a bid for the company which he describes as good news for investors. Only trouble is, the bidder does not have sufficient assets to back the bid.

It may well be that this warning has come a bit late for CLTV shareholders, however I honestly believe that worse news is on the way and that in the not too distant future, you will find yourselves unable to trade your shares. As has already happened at a number of other companies where Mike Neville worked.

[21st century media company] 23/1/2009 19:30

LDM

Yawn!

If you really believed your own bull then where are your trades?

This share is heading for suspension & administration.

I.M.H.O.



In Thailand, us expats have a saying...............it's not what they say but what they do!

Never forget it sunshine.

[the analyst] 23/1/2009 18:35

Not sure how relevant the recent ofcom stuff is for Cellcast

"PhonepayPlus Announces First Companies Permitted to Offer Phone-Paid ITV
Posted on December 23, 2008 by itvtwp
PhonepayPlus (formerly ICSTIS), the organization that regulates phone-paid services (including fixed-line and mobile-based interactive/participation TV services) in the UK, has announced the first companies to be granted permission to offer phone-paid interactive TV services, following the UK's participation TV scandal. In February, UK communications regulator, Ofcom, announced that it would amend TV broadcasting licenses to make licensees directly accountable for phone-paid services in programs; because broadcasters typically rely on their telecom service provider to ensure services are compliant with the law, PhonepayPlus announced, at the same time, a prior permission regime for service providers.
The service providers that have now been granted permission to provide phone-paid interactive TV services are: Dialogue Communications, Eckoh UK, Harvest Media Group, Interactive Telephony, iTouch, Minick UK, Mobile Interactive Group, Netsize, Oxygen8 Communications (formerly Opera Interactive Technology Group), Sky Interactive, Telecom Express, Teletext, and WIN. "Viewers clearly enjoy having the means to vote in a talent contest, enter a competition or otherwise interact with a television program," PhonepayPlus CEO, George Kidd, said in a prepared statement. "Today's announcement marks the latest step toward rebuilding trust in these exciting services. Broadcasters and service providers are clearly committed to ensuring their processes are compliant and transparent and these licenses will ensure they deliver their promise to viewers."

[ldmachin] 23/1/2009 16:38

21st Century Media Company,

I see you learnt nothing from 2008 pal, you made a right teet of yourself all year. Your credibility is unfortunately zero. Poor old woolies.

CLTV made a loss before the channel sale. But approx. £900k of costs on Sumo.tv have now ceased as of end of H1... costs have also been slashed and the business has been grown to include web live show, freeview channel output, cardfish, casual action, etc, etc...

... not to mention the Cellcast asia holdings.

Current market cap is £300k-£400k. One to watch in my opinion.

[21st century media company] 23/1/2009 16:09

CLTV could never make a profit before the OFCOM investigation (the channel sale was a one off), so the decision is non material either way.

[lord santafe] 23/1/2009 15:24

MM's may have wind that the Ofcom decision is going to be favourable?

[ldmachin] 23/1/2009 13:54

21st Century Media Company,

Yeh, i see that tick down on the offer, MMs closing the spread to make a more realistic market that's all and about time too... haven't seen WLW tick up or tick down recently though... ;-)

[21st century media company] 23/1/2009 13:20

LDM

Hey chump - you see that tick down?

Market says they are only worth 0.3p & that's for a small size.

Try selling 500k - I reckon 0.1p.

lol

This share stinks.

[samsan] 23/1/2009 00:09

If I remember correctly I think couple of years ago some 1 did warn us about MN and his dealing in similar fashion as rascal is pointing to at company call Tele-cine(I think) I.E jam tomorrow promises but never delivered and than selling company for almost nothing. I can't remember who the poster was. Have to go back and check the posts and now..........OH SH*T comes to my mind......:-o

S

[ldmachin] 22/1/2009 18:26

21st Century Media Company,

Er, i was just asking a question... which i hope rascalhardin will answer, so i can try and assess what he/she is saying.

... WLW has left you very bitter pal... cheer-up, 2009 may be a better year than 2008 for you...

[21st century media company] 22/1/2009 18:22

LDM

Grow up sushine.

rascalhardin has provided some extremely valuable information - most likely saving PI's from losing thier hard earned cash.

I for one would not touch this with a bargepole now.

Once bitten twice shy.

[ldmachin] 22/1/2009 17:55

rascalhardin,

Had a quick look pal... so am i right in saying that World Television PLC still exists, is still trading to this day, you are still a shareholder... but that the company is now privately traded, rather than being on AIM?

So, you're annoyed that it de-listed and that you can't easily trade your WTV shares?

Does that sum the situation up?

[rascalhardin] 22/1/2009 13:55

LDMachin,

If you look on the WTV thread, you will see some information about the Headstart Fund. Don't know whether it is the same Headstart Fund that administers the Loan Note for Cellcast.

[ldmachin] 21/1/2009 22:13

rascalhardin,

Don't worry pal... i'm more than aware that PLC directors are nothing but scum most of the time. I'm just looking at some of the signs here and they don't look too bad. It's only the shareprice that has took a hammering because the MMs are taking advantage because of the uncertainty over the pending Ofcom decision... overwise Cellcast are still a business that could, if managed correctly, could make at least £1m net profit per annum on the existing business alone.

[rascalhardin] 21/1/2009 21:20

LDM,

The fact that other Directors may have invested substantial amounts of their own money sadly does not mean your investment is any safer. Steve Hagerty was the boss of WTV a few years ago and invested over £100k of his own money at around 1p per share. This did not prevent the subsequent share dilution in favour of the Concert Party or the delisting.

He was against delisting and against the way minority shareholders were being treated, but he was outvoted by the CP. He resigned and his £100k plus investment is now worthless.

I have learned through bitter experience that things like a company's prospects etc do not matter nearly as much as the type of people who are running the company and the commitment they have to treating shareholders in a fair manner. Companies and Directors can and do prosper at the expense of shareholders.

[ldmachin] 21/1/2009 11:17

21st Century Media Company,

The shareprice has been down to this level before.

I'm watching with interest...

... ofcom decision imminent?

[21st century media company] 21/1/2009 11:08

This really is very sad for shareholders.

I think the company need to make an emergency announcement to the stock exchange.

[sans souci] 21/1/2009 11:00

Nonsense

I think we are about to get MBO

[ldmachin] 21/1/2009 08:19

rascalhardin,

I can see you've been burnt elsewhere, but just to balance your arguement a little:

1) The directors, everytime there has been a need to raise funds, have dug deep into their own pockets. Even at much higher prices than these. At 4p the management put in £280k of their own cash at the last fund raising.

2) I know Neil Craven (20% shareholder) is aware of all the 'inter-company' dealings. i.e. the dealings with Cellcast and the vehicle companies the management own. And i know he fully supports the board... if he wasn't happy, i'm sure he would have tried to offload his 20% for any price to anyone.

3) CLTV made a profit in H1, mainly due to a £1.4m sale of assets. But in H2 they have dramatically cut costs, no more money being put into sumo.tv and the business is now 99% UK focused... there are signs that they are actually growing the business at this time.

4) When i wanted to contact the board and ask them a few questions, it was actually non-exec Mike Neville that helped make that possible, so he did his job well on that occasion.

In my opinion their product is good, there is a business here, it just needs to be managed correctly and for them to have a bit of luck with the ofcom decision. This company should be able to make at least £1m net profit per year from the £12m turnover they make with the current business.

[rascalhardin] 21/1/2009 07:27

the analyst,

Whether or not the board are of the same mindset as Mike Neville when it comes to shareholders, the share price graph tells it's own very sad story. The share price has fallen dramatically from 12p or so a couple of years ago.

If you are expecting anyone to feel guilty about removing money from shareholder's pockets, I think you may be expecting too much. All of the warning signs are there as clear as the sunshine on a winter's day. Share price fall. Yes, this happened at WTV, MNT and FLX. Concert Party. Yes, same at WTV. Loan Note. Same at WTV. Lack of transparency. Same at WTV. Failure by Directors to communicate with shareholders or answer awkward questions. Same at WTV.

All the signs are there of a Board that does not give a fig for shareholders and views them as a resource to be exploited. I doubt whether any of your Directors would lose a minute's sleep if shareholders lost all of their money. As the share price currently stands, you have lost virtually all of your investment already.

Sadly, due to WTV, I am already in the category of Investors who have had their lives changed for the worse by a bad investment. I also tried to convince myself that the Board of Directors, despite mounting evidence to the contrary, were committed to increasing shareholder value. Sadly, the evidence in the case of WTV is now undeniable. After diluting the minority shareholder's stake to almost nothing, WTV Directors delisted the company from AIM. The shares are listed on JPJenkins with a selling price of 0.0p and are untradeable.

Do WTV Directors feel bad about the effect this has had on people's investments? No, they refuse to answer reasonable questions about the anonymous beneficiaries of the Kamera disposal and have awarded themselves massive pay rises which they justify by stating the savings the company is making from no longer being quoted on AIM.

Directors only care about their own livelihoods and their own pockets. In many cases, they will do almost anything to make money for themselves. Shareholders are a resource to be exploited, not a group of people who should be respected for their commitment to the company. They do not deserve answers to any questions. They do not deserve a return on their investment. They deserve nothing and your Board of Directors is well on the way to achieving a 100% loss on your investment..

[the analyst] 20/1/2009 22:56

I agree, Lord Santafe

I would also be a lot more concerned if MN was an executive director. But he is not.

As a non-exec, he does not have the power to do as he wishes. He can't destroy all value for shareholders on his own. If that is indeed his aim here, then he will need the execs to also want the same thing. There is no evidence to suggest that is the case

Of course, this doesn't mean that shareholders won't be screwed over by the Board of Directors. Perhaps as rascalhardin might suggest, MN is on the board to give advice on how to take value from shareholders in the most efficient manner? We just don't know. Unfortunately, just as there is no evidence to suggest they are planning to take us to the cleaners, there is also no evidence to convince us that they are trying to create value for ALL investors.

There is no transparency.

This is why investors need a very clear statement from the Board of Directors - What EXACTLY are these mystery off-shore companies? What DID happen to the margins? What really constitutes the massive 'cost of sales' we see in the accounts? Investors don't need some ridiculous one-liners to answer these questions, they need detailed explanations. Nothing else will do. If I was a major investor I would be pressing to get these answers in rns form, not some string of word of mouth smooth-talk promises that means absolutely nothing.

In the end, the person that really matters here is Andrew Wilson. Whether we succeed or fail is down to Andrew, imo. If he wants to steal money from shareholders and leave them with no pension, lost homes, destroyed lives etc, then he can do that. He can also, if he wishes, do everything in his power to try to increase value for ALL shareholders. It's up to him

At this stage, we just don't know what Andrew Wilson has on his mind with respect to this company. We don't really know what his intentions are. I really hope he is doing his best for ALL investors. If, he does take money from private investors to line his own pockets, then yes we will be poorer, it will ruin lives, but it will be HIM that has to live with the guilt on his conscience for the rest of his life. He would lose all of his self respect.