Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Did Motive TV raise money on a false prospectus?

By Tom Winnifrith, The Sheriff of AIM

8 October 2015 00:52

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Shareholders in Motive TV (MTV) can only be described as stockmarket masochists. In they wander to the dungeon of the AIM casino to find a leather clad figure (Leonard Furtig) preparing to chain them to the wall for another beating. Whack, another placing, smack, yet another placing, are you diluted enough yet Mr Shareholder? And still these folks come back for more. But now I want you to turn your mind back to a placing on 26 November 2014 and ask the question did Motive TV raise money on a false prospectus and lie to investors?

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Comments

wildrides

8 October 2015, 03:08

MTV investors ………….why not just take all your money out into your back garden and burn it ………. cut out the middle man ………. and you know how the kids will appreciate a good bonnie .
DUCK AND DIVE

8 October 2015, 06:23

Ho, ho, ho – you’ll have to be sharper than that to catch out AIM’s most slippery fat cat.

Upon further investigation you will find that MTV didn’t proceed with the original $600k deal with CCAN because CCAN was acquired by HISCAN and MTV thought they could instead invoke the change of ownership clause in the original agreement which apparently gave them the right to buy out the outstanding MTV equity for $75k instead of $600k. So the current appeal is all about the $75k clause and not the previously agreed $600k deal.

But you may well ask what happened to the $600k raised in Nov 2014 specifically for the purpose of completing that deal. It would be a shock if it were still sitting in MTV’s bank.