Well done musicMagpie: bailout bid from AO World at 9.07p in cash, Minus 96% since 2021 IPO

I have to hand it to Steve Oliver and his team at musicMagpie (MMAG), this is a result. Given that Magpie is drowning in debt and burning cash, the alternative to a bid was insolvency so persuading AO World (AO) to pay anything at all for the equity is a triumph. AO could have simply approached Magpie’s banks bought the det, almost certainly at a discount, and seized control. But perhaps this is less disruptive. Having said this is a triumph…

musicMagpie (#MMAG) – recommended 9.07p per share offer from AO World (#AO.)

£60,000 a year buys you an analyst at Edison who is either bent or dumb or both – musicMagpie

That is the standard fee Edison charges for one big note and quarterly flash notes. And for that it will spout palpable bollocks. It has just published a new flash note on musicMagpie (MMAG).

musicMagpie Interims: things are getting worse, it is worthless!

Natch, there is no news of any bid interest despite musicMagpie (MMAG) tarting itself as being up for it since late November. Like the ugly fat bird tottering drunkenly outside one of La Willingham’s tatty nightclubs at 2 AM, even the down and out covered in his own vomit is not inclined to embrace her charms. Interims today show this company is worthless and that things are getting only worse.

musicMagpie (#MMAG) – H1 loss again £2.9m, “net debt for bank reporting of £13.8m”

musicMagpie AGM statement: read between the lines, it is all going horribly Pete Tong

Where to start? The turd is well polished but today’s statement at the AGM is bad. At all times I want you to remember that profit is a matter of opinion, cash is a matter of fact! musicMagpie (MMAG) tells us that post a record Black Friday period in November 2023 ( which we already knew about), subsequent Q2 trading has been "broadly in line" with management's expectations and has benefitted from cost control and lower overheads. “Broadly in line” is City speak for a small miss on already grim forecasts.

musicMagpie (#MMAG) – Q2 only “broadly in line with management's expectations” and even that only with “cost control and lower overheads”

musicMagpie – shares hit new all time low: when will it stop the bid pretence?

It is now almost six months since musicMagpie (MMAG) started pushing, via poodle journalists at the Daily Telegraph, the canard that it was operating under takeover panel rules and that it might be bid for at up to 40p per share. The shares are now at an all time low of 6p.

Non-disclosure: it’s what they are not saying but does anyone give a FF about the rules anymore?

The past ten days has shown that, twice, Ben’s Creek (BEN) and its, regulated by the FCA, Advisor Allenby has sat on adverse price sensitive information thus creating a disorderly market. Ben’s is going bust and desperate times call for desperate measures but Allenby is regulated and knows that price sensitive information must be disclosed at once. Will the FCA throw the book at it as it should? Whaddya think?

Letter to AIM Regulation: musicMagpie (again)

As I explained in bearcast yesterday, HERE, I think that musicMagpie (MMAG) is a zero. One think keeping the shares up, at 7.15p rather than closer to zero, is the misguided belief in some quarters that the company is going to get a takeover. I have written to the Oxymorons at AIM Regulation as you can see below.

Letter to AIM Regulation: Surely musicMagpie must come clean?

Yesterday musicMagpie (MMAG) released dismal results showing debt increasing alarmingly and it on the brink of breaching one of its key banking covenants. But there was no mention of the supposed process of finding a bidder. It is spoofing, its silence speaks volumes but it should be forced into making a formal statement. I have written to the Oxymorons at AIM Regulation

Musicmagpie Dog’s Dinner results suggests it is teetering on the brink and no bidder is mad enough

There was no mention at all of any possible bid approaches in today’s dog’s dinner results from musicMagpie (MMAG). For a company supposedly in an offer period that tells you everything. Nobody is interested. I have more chance of shagging Cheryl Cole than music does of getting an offer for its equity. And the results show exactly why. According to the world’s greatest expert on this company, “These results, for the 12 months to November 30, make an ideal case study in creative accounting aka turd polishing.”

musicMagpie (#MMAG) – FY further loss and net debt up to £13.1m

Three months is too long to take the piss: another letter to AIM Regulation about musicMagpie

It is now more than three months since musicMagpie (MMAG) declared that it is an offer period. The initial bidders, solicited by Magpie, both walked within days appalled at what they found. The whole industry know that trading is weak and Magpie’s banks are shitting bricks yet Magpie keeps up the pretence. I have again written to the Oxymorons, how long will they allow Magpie to tale the piss?

musicMagpie Letter to AIM Regulation: statement needed

The Oxymorons at AIM Regulation maybe busy reading ESG porn or dealing with the antics of poltroon Giles Balleny at Cavendish. If they do have a spare moment they should consider why shares in musicMagpie (MMAG) have collapsed in recent days and be forcing a statement. I am 99 sure I know the reasons but it would be nice to have that confirmed. I have sent the letter below by email:

musicMagpie – how long shall we keep pretending?

Back in November, agents for musicMagpie (MMAG) leaked to the hapless gophers on the Daily Telegraph that it had received bid approaches from both BT and Aurelius Investment Advisory Ltd and as gerbils in chatrooms yakked about a 40p per share bid (or more!) the company started a formal offer process. By 27th both BT and Aurelius had stated they were not interested. However…

musicMagpie: what is going on?

I have been contacted by a couple of readers spooked by the musicMagpie (MMAG) share price climbing by almost 20% today to 12.75p. Every dog has its day even this one. Two things will become apparent in the coming weeks.

Bulletin Board Moron of the Week can you beat this musicMagpie owning poltroon by Christmas?

Can you find a dafter post than the one below - and you might hunt happily on Canadian Overseas and Versarien boards today - from the LSE Asylum musicMagpie (MMAG) thread. For the avoidance of doubt, as explained HERE, I expect magpie to go bust in 2024 and shareholders to lose everything. But some folks are still fighting.

musicMagpie (#MMAG) – FY EBITDA expected to be up to £7.5m, but net debt still above £13m

Dates matter: has musicMagpie forgotten its trading statement?

I do not wish to be a bore but dates matter. It was on December 7 last year that musicMagpie (MMAG) served up a full year ( to December 31) trading statement. It is now December 12 and there has still been no statement this year.