Motive Television – Part Two: 2015 Interim Results, the extraordinary litany of failure continuing…

Comments

1. ---

   Pissed off MTV investor

   29 August 2015, 04:48

   Steve

   Good article. I am unfortunate enough to be invested in this pile of shit. I have written off my investment. These guys (Fertig and Pilsworth) have taken the piss and milked the market relentlessly without any regard for the shareholders.

   Both of them are approaching or past retirement age (Fertig is 68) and Fertig in his media appearances (numerous Stocktube interviews) is full of bullshit and jam tomorrow but they have NEVER delivered on behalf of the shareholders.

   I would love to know if there is any legal redress against these 2 individuals personally for inducing investors to part with their hard earned on the basis of puffed up RNS and complete bullshit. It’s obtaining money through at best, negligent misstatements and at worst, outright fraud.

   Fertig has taken £800,000 over the past few years by way of remuneration. He has repeatedly mislead investors “2014 will be the year MTV turns into a butterfly”, “Tablet TV is a game changer”, “we are talking to everybody and everybody is interested”, “we will be entering into partnerships and agreements with household names” are just some of the gems that have slipped from Fertigs tongue over the last few years all of which have proved to be empty, meaningless puff!

   Sarah Lowther of Stocktube/Proactive Investor has interviewed Fertig many times and has put him on the spot in the past about salary and director purchases. In April Fertig, in response to a question “would you be prepared as a gesture to accept a salary sacrifice” threw shit in the faces of the investors by saying “our salary is tiny, we need to earn a living” (he’s 68 for gods sake), and then claimed that a salary sacrifice would “make no difference” and that “that isn’t going to happen”. The entire interview at https://www.youtube.com/watch?v=gBAtUz6Fmdw is an absolute disgrace! Look at the guys body language at 04:30 when she talks about the existing shareholders who suffered dilution after dilution – the fiddling with the tie, the sneer disguised as a sniff, the complete and utter bollocks when he says that the placing was available to everybody! I never got an invitation to take part!!

   The 5 star reviews he boasts about for Tablet TV in this April 2015 interview were mainly posted by investors on the day that the product became available. Fertig knows this but shamelessly grasped on to it as some kind of validation!

   Fertig claims that he can’t buy shares as he would be “criticized” for doing so – see at 04:07 https://www.youtube.com/watch?v=IKrl0zhK1lU – does he really expect us to believe that in the 3 years since he last acquired shares there has been no window of opportunity to show faith in the company and purchase in the market? There has been placing after placing here and the directors have not participated in any of them!

   They are self serving, greedy, incompetent pigs with their noses in the trough, spouting bullshit and do not give a flying f*ck for the people who pay their enormous salaries. No empathy, no concept of shame, no acceptance of responsibility for the destruction of shareholder value they have wreaked.

   Market cap is now £500,000. It used to be £5-£6m for a long, long time. The share price drifted downwards because of dilution but the market cap always stayed fairly constant but since the 24 November 2014 RNS it has bored mercilessly downwards during which time it has falled below the nominal value TWICE thus requiring first a 5-1 consolidation and more recently a 100-1 consolidation to give them “flexibility” in funding. The Market Cap is now so low that to continue paying the boards salaries alone they will have to double the amount of shares in issue.

   I am so angry at what has happened to shareholders here. No matter how much Fertig wriggles and says “it’s not my fault guv” and denies responsibility, the buck stops with him! A fish rots from the head down and this company is on its knees because of the attitude and “couldn’t care less about the shareholders” approach from the BOD.

   And before anybody says it, yes, I am a mug for investing here. I did research and accepted at face value the utterances of Fertig and co. Tablet TV was supposed to be a game changer. It was going to be available to mass market on the high street, it was supposed to be widely advertised with extensive paid for promotional campaigns etc etc. There are references in RNS’s last year to the product being available “on the store shelves” when all the time Fertig must have been aware that they planned to sell it only by mail order. As for the extensive promotional campaign that we paid for…. I have not seen a single ad for TTV!

   Fertig needs prosecuting or investigating. He needs to be held to account for his empty puff, his exaggerations, his downright lies. He needs to be drummed out of the company and out of AIM along with Pilsworth. A new, young, zestful board needs to come in with focus on the shareholders to see what can be saved from the wreckage.

   Last word…. a translation of the word “Fertig” into English is “finished”. http://www.oxforddictionaries.com/translate/german-english/fertig – I really do hope that Fertig will indeed be finished and punished before what is left of our company is finished through his self serving mismanagement.

   Please excuse the rant! I’m a furious shareholder who has been treated with contempt by Fertig – I have tried to communicate with him some concerns but my emails have been stonewalled.

   Cheers

2. ---

   DUCK AND DIVE

   29 August 2015, 05:19

   MTV is a basket case (it should have won at least three of the ShareProphets alternative AIM awards) and its shareholders are like laboratory mice which have been conditioned to accept ever more unspeakable atrocities.

   But a tour of the forums reveals why Fertig & Co have been allowed to get away with so much. The typical MTV PI sits right at the bottom of the food chain. He is dim, even by AIM BB standards. And he knows nothing about company law, the stock market or finance. He is a pathetic TV geek begging to be shafted.

   By way of illustration, some of them were urging others to attend the MTV GM earlier this week so that they could vote on the resolutions. They were shocked and sceptical to hear that most of the votes would be cast remotely via stockbrokers’ block votes. Hence, the PI-shafting resolutions were passed with only token resistance.

   Others are now urging some kind of class action against Fertig & Co. But exploitation of gullible, ignorant, passive shareholders isn’t a crime. Pissed Off, above, is right about Fertig but wrong to think he would ever be found guilty by a court. Otherwise, most AIM CEO’s would be up before the beak.

   He and the other misérables should be requisitioning a GM to oust Fertig, close some offices – especially the vanity address in Soho Square – and force the sale of any assets which aren’t bolted down. And they should be forcing directors to reduce their remuneration and link it to the share price.

   But since they don’t have a clue, they do nothing. Maybe Humanitarian Action Man Ben should step in to help them get organised and, just maybe, avoid some of the looming carnage.