Motive TV appoints administrators - the great journey of value destruction is over

Comments

1. ---

   MrMoto

   23 February 2016, 06:02

   This has got to be THE example of how disastrous investing on AIM can be. How many billion shares did they end up with in the end and is this the biggest loss of value (99%) drop on AIM ever? It’s got to be close.

   Not sure on the mathematics of it, but constant dilution will only send a share one way : down. As you call it a death spiral.

2. ---

   DecoyDuck

   23 February 2016, 06:33

   Tom
   When will these complete and utter muppets ever learn? Always, always, always look at the business record of the executives. Ten minutes research would have demonstrated that this is the now the third complete wipeout of a listed company that Leonard M Fertig has been involved in following the AIM-listed Media Content plc (MDC), and Futuremedia plc (FMDAY), a UK company listed on NASDAQ. He’s a total disgrace and shouldn’t even be in a charge of a piggy bank let alone a listed company. No doubt he’s already planning his next venture.
   Quack

3. ---

   S Foster

   23 February 2016, 06:52

   Cannot blame the death spiral for this corporate failure….. company ran out of cash long ago and could not generate sales. Look at its debts, issuing confetti was its only hope.Death spiral simply kept the party going til now at the expense of dumb PIs. Should have been put out of its misery but board wanted to prolong the agony. Companies who cant generate sales and make a profit eventually fail and blaming the type of funding is ignoring what a sh1te company it is and blaming someone else for your own rubbish investment / gamble.

4. ---

   Duck and Dive

   23 February 2016, 06:53

   Absolutely shameful that AIM gave free rein to these con artists. And the biggest stitch-up of all may not have happened yet. By some sleight of hand, one of the CLN owners is MTV itself, via a subsidiary. So who gets first dibs on the IP?

   I have no sympathy at all for the PIs who ignored all the warnings. Infinitely more distressing is the demise of Tara, whose plight left me incapable of posting yesterday. I can’t adequately express my commiserations.

5. ---

   Russ O'Callaghan

   23 February 2016, 07:31

   Y’know, I’m really going to miss these blokes. In the final days the share-price price got so crazy that you could have had a scenario like this: Nanna gives sixth-former six hundred quid for doing well in his mock A-level exams, but tells him “No buying rubbish like concert tickets, mind. You buy some good shares. Think about your future for a change…”
   Kid buys MTV, six hundred quidsworth; finds he’s subject to Stock Exchange rules and has to complete an RNS on the grounds of “An Acquisition or Disposal of significant Holdings”!

6. ---

   Simple Moving Avarice

   23 February 2016, 07:47

   No doubt AAPL’s price will take a significant knock now that such a key partner has gone. But the big question is how will people watch Freeview on their main television without MTV’s innovative product? (Most moronic product announcement ever?)

7. ---

   VINES

   23 February 2016, 08:47

   at least Leonard Fungi and Michael Jobsworth have something to tell the grandchildren

   the good ol days when they ran a company on a division of the London Stock Exchange

8. ---

   Drunken Sailor

   23 February 2016, 10:53

   Whilst the passing of Tara is sad, putting her down was the right thing to do and she did not suffer for long. Why is the same humanity not applied to flea ridden dogs on AIM? All the “just one more placing / do a death spiral to keep things going while we wait for Apple to approve our worthless app that enables you to watch TV on your TV!” – I do get the white balls and bags thing now, but I still do not get the point of the MTV app.

   It is the mug punter PIs that always end up paying more and more to keep the flea ridden dog alive, when having it humanely put out of its misery much earlier would be the kindest and cheapest thing to do. However there is still the despicable homophobe on ADVFN, who bought in before the bell on the last day of trading (only £150, so below TR1 level – just) claiming it was a 50/50 punt – even I can work out that was never 50/50 and was always 0/100, and lied about earlier trading to pretend he was just reinvesting profit, to take the piss out of. So every cloud really does have a silver lining.

9. ---

   Mark

   23 February 2016, 12:56

   I think aim should apply for a D notice from the govt on this one, utterly disgusting fraud , big dirty fucking fraud who’s ultimate shame must rest with Aim for allowing this shite to have continued for so many years, can’t blame all Pi’s for buying in, like first time house buyers , aim needs them, and that shit delapidated house on the corner is always gonna get bought up at some point, if I ever see Fertig in the street. I would happily slap the little squirts face and stamp on his glasses, and finally ram them down his greedy throat, would love to see those expense books, is that possible after administration? Will never forget the great news RNS’d way before the Mcap went pre £1m “we are going to a fucking PUMPKIN festival in las vagas!! A fucking PUMPKIN festival!!! Just a quick note of my feelings anyway after I was once a first time house buyer. Regards all 1st time house buyers

10. ---

    Drunken Sailor

    23 February 2016, 21:07

    MARK

    AIM will want the dead body removed as quickly and quietly as possible. There have been so many dead bodies like MTV AIM has a well worked out undertaker scheme to ensure the stench stays in the coffin.

    The Administrators do have to file a report with the insolvency service regarding any wrong doing they find. The main administrators report will be on Companies House in due course, however the report to the Insolvency Service will be kept confidential. Given that it is unlikely that much cash will be raised from the carcass of MTV, the creditors will not want the administrators racking up too much in the way of fees investigating. Serious wrong doing needs forensic accountants to investigate and they do not come cheap and it is very rare that someone will agree to pay for them – most of the stench will remain in the coffin. Fertig will be free to start up another shit business in order to fund his life style.

    Unfortunately, first time house buyer or not, everybody has to take responsibility for their own investment decisions and that means doing the hard yards on the research before piling in on any old ramp / tip.

    Shareprophets does some of those yards for you, but it would be wrong to assume that if there is no negative comment on Shareprophets about the company you are researching then everything is fine. The team work hard, but they cannot cover every shit company on the markets. However by looking at how they analyse the various shit companies they do look into in depth, it is easy to learn how to do in depth research for yourself. Google is a wonderful tool and Companies House beta service is also indispensable.

11. ---

    Duck and Dive

    24 February 2016, 01:40

    https://www.dropbox.com/s/153srf472a3kvdq/AIM-coffin.jpg?dl=0

12. ---

    Pain Au Chocolat

    24 February 2016, 02:02

    @DRUNKEN SAILOR

    I couldn’t agree more. Not being brought to punters attention here is defo not a tacit endorsement. Always DYOR. They do a great job here but they also purposefully avoid the shit companies that they have a pecuniary interest in. Andrew Bell is a speaker at one of their events so rest assured no company he is involved with will ever get the treatment meted out to the others who possibly have a better record anyway! There are so many similarities between MTV and RRR that you definitely need to have your own eyes wide open. No mention of the RRR BB morons ever either.

13. ---

    mammyoko

    24 February 2016, 02:36

    From Bergen’s website:

    Bergen’s substantial point of difference is its willingness to think outside of the box and see opportunities where an investor with more conventional thinking would overlook an asset’s potential. This creativity is coupled with Bergen’s management’s experience in idea generation, and efficiently and effectively assessing, structuring, executing and managing investments in its ideas in both US and foreign markets.

    Another key component of Bergen’s strategy is its philosophy of win-win – only those investments that deliver value to both Bergen and the existing investors and company management will be successful in the long run.

14. ---

    Duck and Dive

    8 March 2016, 05:39

    http://www.thetimes.co.uk/tto/business/industries/technology/article4697661.ece