Parallel Media Share Discussion Threads

[britishb] 30/6/2015 17:07

A complete horror show.

Balance sheet now shows a clearer picture with net current liabs of almost £3m, net liabs of £1.6m.


And err "PMG is in current discussions with creditors concerning non-current debts of approximately £2.0m that are no longer deemed payable which should allow for a considerable balance sheet improvement in the future." Err non current liabs are shown as only 300k???

12p on the bid in the morning?

[mister md] 30/6/2015 17:05

..perhaps implying they might have some more substantial deals to announce going forward?

[dusseldorf] 30/6/2015 16:41

Annual report is actually now on the website:

[mister md] 30/6/2015 16:06

agreed we've seen this all before

[dusseldorf] 30/6/2015 13:26

KNIGEL - its all relative, look from where the co. has fallen from its a drop in the ocean really. I think volumes in excess of 200k would be a leak, 15k shares just looks speculative given its results day

[knigel] 30/6/2015 13:01

Leak? That's some spike/volume for this share..

[dusseldorf] 30/6/2015 11:53

britishb - Unless music turned a tidy sum (I believe we have the festival end last year perhaps to contribute) it's unlikely to look good regardless, still I'm in no rush as pretty much my entire holding is now in SIPP.

[britishb] 30/6/2015 11:15

Well tournament rights are in the books at £1.66m at interims. As they've "created The Championship (Singapore) Pte Ltd and have sold 15% of the shareholding to third parties for US$$750,000, valuing the company at US$5,000,000" they may well increase value of tournament rights in the books. Just the JV could be valued c. £2.7m so that alone would created an accounting profit of £1m+ (plus they presumably retain rights on top of the JV - Korea?).

Operating results will, as you say, be ghastly, but they may just about be able to declare a profit for the year.

Mr Market is well capable of sending this up 100%+ if they do that, even if it remains the same ghastly company (IMO!) as before.

Best hope, as I've always said, is that new partners in the JV buy out all the rights, or take control of JV and actually make some money for a change!

[dusseldorf] 30/6/2015 11:03

britishb - I have no doubt that reported results this time will be shocking - I don't envisage profit until next year, the bathwater has been thrown over the past 2 years, the baby only narrowly clinging on as interims alluded to. I'm not after a mad spike - though obviously if it really was mad I'd consider trading it. I'd prefer a slow steady increase and who knows, perhaps in a year or so DE will package PAA up and sell on.

The thing I'm most cautious of from a value perspective is dilution. Oryx would be the same I'm sure having made their 'first' investment at £1.50 a share only 18 months ago....

RE: DC Dealmaking, well, PAA is still trading is it not? somehow he's managed to get investment of circa £8m over the past 8 years, and deals with companies worth $0.5bn so shocking performance aside, he certainly knows people with deep pockets.

We now in theory have two Tournaments, music, which had been doing well, and significantly lower overheads. I believe PAA now has skeleton crew and overheads are to be dropping significantly.

I don't like dilution, and I don't like Parallel Contemporary Art. I might like PCA more if it was absorbed into PAA, else it's just a drain on resources, company cash, and director commitment - even though its an independent entity, in theory, sponging off PAA resources - supposedly not making money, but somehow housing £300k cash.

[britishb] 30/6/2015 10:58

Au contraire littleloser. I have always been even-handed wrt PAA. I have analysed it to death and called almost every event to T. If only you had been paying attention....

[littlemadam] 30/6/2015 10:35

For once Britishbear you have given even-handed comments.
I have e-mail PAA to ask if results will be out today.

[britishb] 30/6/2015 09:20

"should be able to make good margins based on deal capability of DC". Err are you using the almost exclusively loss-making deals of the last 15 years as your benchmark there, DD?

Results will be interesting. Might just see a better profit figure than you are expecting if they revalue tournament rights based on recent joint venture/part disposal.

You might even get a mad spike to sell into but I predict you won't!

It's just conceivable that at this market cap one could make a profit at some point if they have the sense to sell tournament rights lock stock and barrel and shut up shop. I predict they won't and the gravy train will rumble on!

[dusseldorf] 30/6/2015 08:54

To be fair to DC littlemadam it was 'on' or before. I'm keeping an eye out on the statements re: music and as we know the co. is planning to run 2x sanctioned events next year. at £0.56m, assuming no dilution (and that's a big assumption), a turnaround in fortune could easily see this 300-400% on fairly modest profit numbers.

I don't mean profit in these results, as they will be shocking, I'm talking about the fact that the company is still here, has cut-overheads and essentially should be able to make good margins based on deal capability of DC.

I haven't given up hope of making my money back - my break even currently circa 78p per share or mcap £2.2m. PAA used to have mcap £4m even when loss making....

[littlemadam] 30/6/2015 08:41

Yes, trading statement said results will be out BEFORE 30 June!

[dusseldorf] 30/6/2015 08:16

...let's hope it is just in time, he has also been known to be late, which leads to suspension

[dusseldorf] 29/6/2015 08:34

DC missing a trick here, he should publish the shocking set of results on a day where there is a sea of red, however, no change to the 'just in time' policy adopted where PAA is concerned(!)

[cottoner] 02/6/2015 14:24

I'd assumed PMG was a 'not-for-profit organisation' as well!!!

[mister md] 02/6/2015 14:04

yes the ad states: "Parallel Media Group is a leading communications agency specializing in sports, entertainment and art."

and Parallel Contemporary Art is a separate "not-for-profit organisation "... indeed odd to see potential staff overlap between the two

[dusseldorf] 02/6/2015 11:47

Looks like PAA have been hiring in Singapore for someone to help with Brochure/Marketing material for events. Whilst the advert says Parallel Media Group, the link says parallel Contemporary Art.

(22 days ago)


I have to say I am confused at how PCA can sit outside of PAA and yet share resources e.g. staff and phone numbers(!)

[dusseldorf] 13/5/2015 08:13

Results within the next 6 weeks, I think I'm just going to close my eyes when they come out count to 10 and repeat, 'at least we're still trading'...

The key for me at this crucial phase is that we avoid dilution. Events, deals, partnerships can begin to generate reliable income and new ones can be added, however, dilution at these levels would be catastrophic for shareholder value IMO.

[mister md] 10/4/2015 20:36

It had been so many months since the last update and with a market cap of 0.5m I'm sure a few of us were wondering whether there was any life left in this company...

Still, some interesting snippets in latest RNS on both golf & music:

- The Championship in Singapore for Spring 2016 (European Tour 2016)

- a "Championship" or similar event in Korea. Discussions in relation to an event in Korea during 2015 continue.

- in advanced discussion with a further investor in the Championship (Singapore) Pte Limited, and is working alongside that potential investor to secure a title sponsor for The Championship.

-continues its discussion to stage the 2015 edition of the Prudential Causeway Trophy in either Singapore or Malaysia.

- an update regarding the Music Division of the Company to be provided in due course.

[knigel] 10/4/2015 20:14

Dusseldorf, I agree. IF the company can get a sponsor this time and IF 2-3 golf events are arranged for 2016 and IF the music division starts to grow - especially in Japan - then the current share price may be cheap... but I been here long enough not to make a song and dance about one RNS .. good, neutral or bad... I just presume we have a lot of non holders still posting because they lost money here in the past - which is fair enough... we will probably get the music RNS in the near future - then we can reassess the situation going forward.