Minds + Machines Share Discussion Threads

[hotaimstocks] 30/10/2020 13:27

MMX will go bust at some point ... glad I got out today with a 68% loss as its better than zero pence. mmx will milk everyone like cake did.. RED FLAG

[hotaimstocks] 30/10/2020 13:25

the funny thing is I put 90% of my 40k in CAKE and it went bust and then he delisted his LSE chat lol ... have a nice like muppets in this bust / fake company.

[hotaimstocks] 30/10/2020 13:19

STRONG BUY BUY BUY BUY ... this was above 8.5p earlier this year. sundaysun once told everyone it would be 21p and then he vanished from MMX hmmmm ...

[jackson83] 30/10/2020 12:55

only 4.75p to buy if your quick as be above 5p soon. STRONG BUY

[jackson83] 30/10/2020 12:53

I remember folk saying we were worth 20p on LSE

[jackson83] 30/10/2020 12:51

I BOUGHT BACK IN LOL ... STRONG BUY target price 10p / takeover 14p within 12 months

[jackson83] 30/10/2020 12:50

I BOUGHT BACK IN LOL ... STRONG BUY target price 10p / takeover 14p within 12 months

[hotaimstocks] 30/10/2020 12:44

your not going believe this - but looks like the folk that sold out are buying back in at a 30% premiere now .... would not be surprised to see 7p / 8p before xmas

[hotaimstocks] 30/10/2020 12:32

780k sell in the house

[hotaimstocks] 30/10/2020 12:29

its one last pump n dump so the boys that got in at 3.50p can exit with 25% profit

[hotaimstocks] 30/10/2020 12:24

as expected a lack of buyers now as its NT to sell 250k ... MMX has never ever held onto a rise in 10 years ... this will not end well

[hotaimstocks] 30/10/2020 12:10

more bad news will be dug up on this scam ... 2p

[transhoneyqueens] 30/10/2020 11:32

WAS GOOD TO BUY AT 3.5P for a quick 20% .....
this will be back to 3p / 3.50p soon ... no dividend this year RED FLAG and no TENDER OFFER RED FLAG ... probably a lot of the cash has vanished from June .... pure gamble now as this rise will be sold into next week... 3p soon

[effortless cool] 30/10/2020 09:24

I'm see good and bad in this morning's RNS.

The bad is obvious - 2019 revenue and profit were materially overstated by $1,715k and $1,895k, respectively. Looking at the historical revenue trend, it is apparent that new channel revenue spiked up in 2019 H2, so thus is likely when the "misstatement" occurred.

The good? Well, 2020 figures have actually improved; revenue restated $80k higher and profit $211k higher, with more in the pipeline. The company is still cash generative and still trading positively on an improving trend. Additionally, the NEDs have performed impressively, ensuring the investigation was completing quickly and taking decisive action on its conclusion.

I have revised my valuation model to reflect this announcement. The main change has been to move from a PE multiplier at a premium to the market (because of the annuity-like characteristics of its revenue stream) to a discount (reflecting the risk of more skeletons and the makeshift management team in place). I have also simply written off the balance of deposit cash not yet earned as revenue. These changes still leave me with a valuation in excess of 5p per share.

I went up to my shower this morning with MMX down 20% and me deliberating on how to proceed. I came down determined to buy more but found the price had rallied and I could not buy in any quantity at all but could sell loads, had I wanted to.

My view of the company's prospects is broadly as it was when I made the decision to invest, albeit there is more uncertainty around it. I do also think it is vulnerable to a takeover now, and has characteristics that would be attractive to private equity. I am, therefore, still holding.

[waldron] 30/10/2020 08:24

Minds + Machines Group Limited
Minds + Machines reports conclusions from formal investigation into certain contract revenues

The internet domain specialist said it continues to have a strong balance sheet and surplus cash to its operating requirements

Minds + Machines Group Limited - Minds + Machines reports conclusions from formal investigation into certain contract revenues

Minds + Machines Group Limited (LON:MMX) said it has concluded its formal investigation to determine whether certain revenue associated with a specific contract had been correctly recognised in the year ended December 31, 2019, and the six months to June 30, 2020.

The domain name specialist said it believes that revenue attached to the specific contract has been incorrectly recognised. It was previously announced that cash of US$1.125mln was received in connection with the specific contract and revenue of US$938,000 was recognised in the 2019 financial year.

Following its investigation the company said it believes any cash sums initially received pursuant to this contract should have been classified as a deposit against future sales and then recognised as revenue as the company's partner made sales to end-users. To date, the partner has made US$201,900 of end-user sales under the contract.

MMX said that the investigation has also identified two additional contracts entered into in the 2019 financial year totalling US$790,000 where receipts were incorrectly categorised as revenue. These contracts were offset with payment contracts that have been recorded as deferred charges or capital expenditures, thereby impacting earnings. It said the reversal of these amounts will not impact the cash position of the company.

As a result of the findings of the investigation, the company said its revenue for the 2019 financial year was impacted and was adjusted to US$17.2mln from US$18.9mln, while net income was adjusted to US$2.8mln from US$4.7mln. The results for the first half of the 2020 financial year were also adjusted to report revenues of US$8.48mln from US$8.4mln previously, while net income was adjusted to US$1.42mln from US$1.21mln.

The company also said that chief executive Toby Hall and chief financial officer Michael Salazar have by mutual agreement resigned from the board with immediate effect. Non-executive chairman Guy Elliott has agreed to assume the role of executive chairman on an interim basis.

Minds + Machines said it has appointed Tony Farrow as interim CEO to oversee the day-to-day operations of the company. He will not join the board at this time.

Independent non-executive director Bryan Disher has also agreed to oversee the finance function of the group and will assume the role of interim CFO until a permanent CFO can be appointed.

The firm added that given the investigation and the board changes, it said it believed it is prudent to postpone a proposed tender offer of £3mln, previously announced in September. The company said it remains committed to returning excess capital to shareholders and continues to have a strong balance sheet and surplus cash to its operating requirements.

Proactiveinvestors

[jackson83] 30/10/2020 00:59

Bakky this was in the 2p's in 2009 so no need to panic yet if you are still in profit...the calm before the storm.

[jackson83] 30/10/2020 00:20

THIS WAS SET UP TO MILK INVESTORS.. well Dweil warned us re china and spiral costs.
Going bust ! soon as this has been a well oiled scam , magic profits and out the back passage of porno Toby and chums .. just get ready for the shock profits warning ... 2p then. RED FLAG .. see u when its zero pence.

[dolittle1] 29/10/2020 23:45

Gosh, sjlawley revelations on LSE. Suspension????

[hotaimstocks] 29/10/2020 19:06

this is not looking at all good as .Vip and .Work and the other 26 names don't make us any money ... break even ... we are better off to give em away free to another company so we don't have the huge fees and costs ... just keep the 4 porno names and 3 staff .. costs £750 and profit $4m per year ... pay us a divi and in 15 years I will get my money back lol ... in a nutshell mmx is doomed and not worth much to a buyer ... put it up for sale for £40m and return any cash to shareholders .... only problem is nobody will touch us with a barge pole and the porno names are not required by the big players who want a clean company via acquisitions ... we are a junk nothing company. Hall in over 3 years has not told us the true cost re vip china failure ... this is just the beginning of the end for us. do not truth this scam company that sprouts lies re profits RED FLAG

[hotaimstocks] 29/10/2020 17:46

RE THE 70 POSTS BY THE A TEAM on LSE chat..
Strange none of them bought into MMX today ? maybe they don't see value at 4p or waiting 2p to buy in.

[dolittle1] 29/10/2020 15:01

Gosh, sjlawley making a guest appearance on LSE. Baky getting an orgasm.

[jackson83] 29/10/2020 13:38

get your cash out folks before it goes bust next year. 4p is better than zero

[jackson83] 29/10/2020 13:32

WHAT ARE THE BUYERS WAITING FOR ? MMX SALE PRICE won't LAST FOREVER...
you can purchase volume at 4.19p and even get it on a T20 for the same price .. 4P SOUNDS BETTER VALUE to buy in I guess. don't be greedy as it won't go to 3p unless institutional investors dump again.