Parallel Media Share Discussion Threads

[knigel] 20/9/2015 11:06

My best guess is that you will keep posting on a share you have never been invested in or intend to invest in for whatever sad reason!! I just cannot understand single share posters - (yes BB has occasionally posted elsewhere) - especially when they have no financial interest. I agree actually it's dire and no sign of a turnaround... but the same can be said for other AIM shares in the past that recovered over a long period * - and if anyone is still invested here at 15p - is there any point in selling now? Granted we need some (any!) news soon. I hope BB has noticed how well STY * has been doing recently :-)

[britishb] 20/9/2015 08:40

Excellent tripe DD! You should open a tripe restaurant.

Why would DC "support" the share price. He can presumably get a waiver from the t/o panel and issue new equity to himself (and/or the next insti mug) at 1p or whatever if cash is needed (very possible, no?).

As I've said several times there's probably not enough cash to see out the year unless they sell off the tournament rights and even that might not cover existing liabilities.

My best 2 guesses - a) a loan from DC to prop things up, golf rights sold off leaving nowt for shareholders and b) bust.

What's your best guess...?

[littlemadam] 20/9/2015 07:12

Duss, MD.
I am off to Lanzarote for the winter. When i return in April i want to see this at £1.
Seems the sun is affecting my brain already

[dusseldorf] 18/9/2015 19:21

britishb- By price support I meant from DC. He's inferred for some time it's undervalued, but not purchased for at least 18months, I was highlighting he's restricted. The price collapse is due to many factors, not least the sell off by anyone who has ever been paid in shares and is not a company employee or major investor. There are very few shares in free float, don't underestimate the impact of rapid reversal in fortunes albeit even I'm aware it's a remote possibility. The two other major holders may also be insiders to something.

[britishb] 18/9/2015 15:56

Err the fact that they had only £3k cash at 31 st Dec and I guess have been loss-making since might be a more likely reason for the "lack of price support"!

Or the fact that, IIRC, they haven't made an annual operating profit this millennium whilst shareholders have been diluted time and again.

Or the fact that the only full-time exec dir seems to be more interested in his art stuff.

etc etc

Unless they sell off tournament rights they look toast to me and even then it's not clear that there will be anything for the poor poor people unfortunate enough to own shares here.

Good luck!

[dusseldorf] 18/9/2015 09:52

I re-read the 2013 Dec agreement / placement and it appears DC is restricted in buying incrementally linked to PCM revenues unless he gets takeover panel approval. The only way he can get more %'age at present is via option agreement worth £50k at todays prices (circa 333k shares), but these vest in accordance with how much money PCM agreement generates - the full amount will have been available when £500k is reached.

Might explain the apparent lack of price support.

[dusseldorf] 16/9/2015 12:58

Mister MD - agree with your sentiments, I can't help thinking the company fortunes would change if he reversed the ART interests (PCA) into PAA

[mister md] 16/9/2015 08:15

And DC's yearly salary over last decade or so is equivalent to 50% of current market cap ! Lets hope he turns things around to get his 34% stake (and our tiny holdings) worth something again, but there can't be many investors left here who believe that. A quick googlesearch on DC would seem to indicate he's now mainly active/ more interested in the Art world ...

[dusseldorf] 15/9/2015 12:59

britishb- fair enough, I've re-read your comments on a PC (was mobile yesterday) and you do caveat.

[britishb] 14/9/2015 22:47

DD. I have not inferred that all is lost. Just that it is a very real possibility. I remain of the view that of the 1000's of listed companies this is one of the ugliest as an investment proposition. Each to his own.

[daytraders] 14/9/2015 22:10

Lets hope you right Dusseldorf.

[dusseldorf] 14/9/2015 22:07

P. S looks like we narrowly missed out on gaining a new tournament. Can't help thinking the poor state of the company finances and trading made this a fruitless exercise against the might of WSG. Still, at least the co. Is still active in the arena. http://www.theclubhouse.com.my/2015/08/no-break-for-malaysian-open/

[dusseldorf] 14/9/2015 21:42

Daytraders - despite what bb might infer, all is not lost. We have 2x tournaments (assuming key sponsors during q4) and ongoing partnership with live nation in Asia. Two large backers who have invested millions i'm sure want to ensure survival and avoid dilution at these levels as do smaller PIs. DC will not be immune to the poor performance of the share price as it narrows options and has meant salaries postponed. You can bet your bottom dollar Oryx had a few choice words as Halewood (from memory)

[daytraders] 14/9/2015 18:36

Not checked my sipp in over a year, even worse than i thought, paa cost £9,107.19 now worth £543.38, my break even would be £2.26 per share :( bought april 2013 have wrote them off in my head, will just have to live on the state pension if there is still one when i retire.

britishb: its wrote off in my head, and no, course i dont blame Duss

[britishb] 14/9/2015 18:26

Still posting your optimistic tripe DD after all this time.

The balance sheet shows net liabilities of £1.6m+ so there's no reason for it to be valued at more than zero - unless they manage to not pay a load of people they owe money to (as they say they might) in which case balance sheet shows about 3-400k. Add in H1 losses and it goes negative again, most likely.

So unless they manage to flog more tournament rights or start making an op profit (which they haven't done for 15 years IIRC) it's really worthless IMO. Both are possible but I most certainly wouldn't bet on it.

Daytrader would you say the tripe that DD has posted here has contributed to your £8k losses? Are you prepared to lose what's left? That seems a very real possibility to me.

[dusseldorf] 14/9/2015 18:10

Daytraders - what's your break even? (I'm now circa 57/60p) I've averaged down with some purchases 12k shares over the past month or so around 13.5/14p level. At 13.5p/£400k the business carries virtually no value. I'm waiting to see what's announced after/at results as more news is expected. If nothing happens (positive ), in next 6 months I think I may call it a day. The company has been cleaned extensively and I suspect the interims perhaps the last of it. As long as tournament sponsors are delivered soon all might turn quite quickly- PGA European finalise next year's tournaments in Nov so eyes peeled around then. At these prices if we can avoid dilution, the way up is not so distant, and a surprise deal may surprise some who've written the Co. off....

[daytraders] 14/9/2015 14:59

Only £8K down of my pension money on this :(

[dusseldorf] 14/9/2015 14:29

Interims due next 3 weeks. Expecting barely a pulse, sizable losses, but still breathing. Would be good to get update on tournament sponsorship either at results or shortly after.

[littlemadam] 02/9/2015 12:28

MisterMD
Afraid not. There was a time when I virtually lived on golf courses. Played for over 30 years. Suddenly got bored, even though got down to 7, and not hit a ball in ernest for nearly 10 years. Now thinking of digging the clubs out. Probably have to be content playing to 17 now.

[mister md] 20/8/2015 16:33

are your properties adjacent to a golf course .. would be handy ;)

[littlemadam] 17/8/2015 19:33

This now valued at £420k. I am thinking of selling a couple of properties and snapping thius up. Would a £350k bid seal it?
Then a few if us here could give it our full attention, which ius more than DC is doing!

[dusseldorf] 13/8/2015 08:30

Strictly speaking there was no timescale on receiving funds. I'd hazard a guess the payment schedule timings changed when parties found out in April that the tournament was being delayed until 2016 (likely ahead of the RNS we received), i.e. an initial deposit is agreed, but further funds are released on securing the tournament date (TBC in PGA 2016 schedule) and a title sponsor - though if this was the case that level of detail should ideally have been announced.