Legendary Inv. Share Discussion Threads

[soupdragon55] 26/3/2018 12:49

"What does it do that large multinationals with their own tech whizz kids cant do on their own?"

Sometimes its not about doing something that you can't employ someone to do.

Why have a team of tech kids on you're own pay roll when you can purchase the SaaS from someone else?
Not every company wants to do everything in house and have to deal with everything that goes with that.

[belt n braces] 26/3/2018 12:43

Glad your out Sid - best of luck for the future.

[soupdragon55] 26/3/2018 12:41

Sid, you couldn't be further from the truth.

VS product is tailored to each client for their specific requirements, its not always cost driven. The client procurement teams control suppliers and who is allowed onto the system. VS developers design the UX to suit each clients needs.

Ask yourself why 5 out of the top 10 UK online retailers use the system if it fails on the practical side?

Also, the problem you hit on is lack of information, you say they haven't signed up any new clients, but you don't know whether they have or not as they are not obliged to tell you.

You negate to look at the partnerships with IBM and Wincanton which were signed after you sold out. Another aspect of these will mean that VS technology will be used as part of their offer and you won't know it.

Have a look at the VS developers and their online postings, you'll get more of an idea of whats going on.

[carefreesid] 26/3/2018 12:32

It seems to be taken for granted amongst leg holders that vs 'has a lot of potential'.

Does it?

Its been around for a few years, and not got very far at all. What does it do that large multinationals with their own tech whizz kids cant do on their own?

It, in theory, merges suppliers into one giant market place.

Great theory, but the reason it hasnt taken off is because it is not practical. These multinationals choose their suppliers very carefully, in terms of quality, reliability, and of course, price.

vs only shows the cheapest price.

When you buy a suit, a shirt, food, sports equipment, electronic goods etc, is price the only thing you look at ?

Of course not.

I believe the reason vs isnt signing up any proper, large contracts is for this reason.

Great idea, but falls on the practicaility side.

That is why I sold out, and I believe that is why no insiders are wading in. vs is just not that great, and with vs not being that great, what else has this poor excuse for a plc got?

all imo.

[zipster241] 26/3/2018 12:25

is anyone still holding this apart from PP with 90m shares?

Who holds and how much do they hold ?
A new 5year low today, 0.076

id say they will be forced to sell up VS but that will provide a new valuation on VS.... a lower one as I don't see anyone paying the 66m that notion and leg paid recently.

[nortic 007] 26/3/2018 12:04

Nice bloke.

[krisg] 26/3/2018 11:29

Hi GBENSONYes VS as potential but that's no good if the LEG CEO is shafting shareholders.

[gbenson1] 26/3/2018 11:15

Hi Krisg, I have a hunch Joe Bloggs is connected to 2 of your questions! LEG has a jewel in VS, however Zaf has a lot of questions to answer, I certainly hope this doesn't finish tragically?

[soupdragon55] 26/3/2018 11:12

By the way, good discussion by all on the thread this morning.

Much appreciated.

[soupdragon55] 26/3/2018 11:04

krisg,

1) Don't know this one
2) Alcazar came on board in the placing of May 2014. (see Full Results 19 August 2015
"Following the placing in May 2014, Alcazar 1 Pte is interested in 11.1%. of Legendary "
3) Don't know.

Also, there was talk a while ago about why Beaufort replaced Peterhouse before the last placing.

Actually Beaufort and Peterhouse were joint brokers before that point in time.

[krisg] 26/3/2018 10:57

Answers to the following would be useful 1 who loaned the 30k 2 How did Alcazar get their shares ?3 who owns Manas Resources

[chinese investor] 26/3/2018 10:56

Thanks again Soup !

[soupdragon55] 26/3/2018 10:54

CI, the final results state "At the end of June 2017, US$250,000 of the facility was drawn down.

Not "by the end of..."

[chinese investor] 26/3/2018 10:51

US$250,000 of the facility could have been drawn before end June 2017 !

[soupdragon55] 26/3/2018 10:51

BD, my thinking is that if you take out a loan facility for one year, that means you have access to that sum of money for the timeframe agreed.

As you are not drawing down on day one, the final payment is not the same day as the facility expires because in theory you could draw down at any time up to expiry.

You wouldn't agree to draw down with only one day to pay back.

Hence the actual repayment is one year from the date of drawn down which will be end of June 2018.

[bionicdog] 26/3/2018 10:48

I guess you could read it either way Soup.

[chinese investor] 26/3/2018 10:46

I think they'l sell some of their VS.

[soupdragon55] 26/3/2018 10:46

BD, the loan facility has a term of one year, but they didn't draw down until end of June 2017. The repayment would surely be 1 year from the point of draw down. So not repayable till end of June 2018.

Post the year end, in April 2017, Legendary entered into a new facility agreement with Alcazar 1 Pte Limited for up to US$400,000. The facility bears an interest rate of 10% and has a term of one year. At the end of June 2017, US$250,000 of the facility was drawn down.

[behindthescenes] 26/3/2018 10:44

Think the aggressive seller this morning got wind of something imo.

[bionicdog] 26/3/2018 10:39

Soup
Surely they have to pay off the loan in a couple of weeks.

[soupdragon55] 26/3/2018 10:37

Pre, there are two options, they could use the remainder of the loan facility and borrow another £105k.

Or a placing, but that would need a broker which they don't have.

The other problem with a placing is that LEG will be looked down upon after the poor performance from the last placing in which none of the proceeds were used for the purposes stated at the time.

[chinese investor] 26/3/2018 10:17

Zaf could inject money into LEG from one of his (or his friends) many other companies !
BTW the correct price should be 0.08p !

[pre] 26/3/2018 10:14

ok thanks for the information Soupdragon55...on that basis they'll require funding...wonder if they are sorting this out ahead of broker replacement as time is running out to prevent suspension?

[professor pettigrew] 26/3/2018 10:11

Yup, that's the one KK, and you could also send it to [e-mail]

I doubt somehow that you will get a reply though Phil, but good luck.

His PR is quite simply appalling.