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Motive Television – Memorandum of Understanding announced as directors scramble to keep their lifestyle funding rolling

By Steve Moore

9 December 2015 05:00

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Scrambling to keep their lifestyle funding rolling, the directors of Motive Television (MTV) have announced the signing of a Memorandum of Understanding “to provide educational content to tablet users in South Africa, with possible further expansion throughout Africa to follow”. Convenient timing hey, just as the company seeks to conclude discussions with holders of £2.98 million of convertible loan notes which mature on 31st December…

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Comments

DUCK AND DIVE

9 December 2015, 08:08

Poor old Len. Between a rock and a hard place, he doesn’t know whether to say nowt and let the SP fall freely or ramp up the assets so that the CLN holders might think it would be worthwhile forcing MTV into liquidation.

An MOU is typically non-binding unless specified otherwise and wouldn’t hold up in court.

That said, there probably is a market for his tech in the third world, if only they could afford to buy it.
Phil

9 December 2015, 14:37

Poor old Len really will be between a rock and a hard place if he expects to create margin in South Africa because he will have no chance.

The problem for shareholders is this play is in Africa and Africa will play bitch- time, and Africa will always make you wait. There is no such thing as a late African and no distance we will not walk

It maybe some time before the consequences show up, in the meantime the lifestyles will continue