So in regards to management, Dion and the like, what happens to...

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AusSmallfry

105 Posts.

11/01/18

13:17

Post #: 30225725
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Originally posted by sashie ↑

Perhaps MSM will try a rights issue, so Directors can continue paying themselves high fees, bonuses and shares. BTW does anyone know how much of the $20m plus raised was actually spent on the App? 1-2m? The new capital raising pitch will be "average down" basis (or be wiped out by dilution) and it's the "best" way to recoup your loss:

Let's recap on MSM to date:
1. Raised a truck load of doe (but did not put much if any of their own money in-maybe a few% of what was raised), based on building an app on the "TV model" of Idol and X-factor.
2. Spent a truck load presumably (some on building the app)
3. Strangely built an app that wasn't the promised TV model e.g. App is nothing like X-factor or Idol- as both those have the vast majority viewers time with the cameras spent on judges not performances as per the app.
4. Signed Usher as a judge but didn't use him as a judge as per X-factor or Idol
5. Caused RaaS report to be released based on revenue and monthly active users (MAU) totals
6. Board issued themselves bonus and more shares above the vend
7. Raised more doe on the back of RaaS (MAU valuation metrics)
8. Released meaningless metrics again and again, and have "sat on" releasing the MAU metrics and expect this will not concern the market.

Why are some people scratching their heads, on wondering why the share price has fallen? when MSM: promised to build something; raised and spent a truck load of other people money; didn't build what they promised; took heaps for themselves; and haven't kept the market informed on the metrics (total MAU) that they set for MSM.

Perhaps they should of spent more on the App and built what investors wanted and not spent, other people's money, on what they wanted but what was promised.

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So in regards to management, Dion and the like, what happens to them. Other than making a truck load. How does this reflect in their reputation? Do they face any form of backlash (other than the $15,000 Dion spent on Market Price shares lol).
It is a sad story indeed. I never got out and am at such a big loss i feel as though i might as well leave it.

MSM Price at posting: 4.5¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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