MUL - Multimedia (not yet
edited):
Total Shares Issued:
1,140,605,652 (Very high - will impact
liquidity)
1) Price:
Reached .006c April 2003 so
there could be long term holders out there who could
afford to go close to this and still be in
front.
Also, has only been
travelling in the 6-12c range since around September2003
so there is some danger from those who bought well under
these prices between Feb02 and Aug03, however; one would
think if they were going to get out, they'd have already
taken advantage of recent increases SO my best guess is
there would be some stability/support around
6c.
2) 10.2.04 announcement - new
issue: 1M shares are payment for consulting
services
3) 14.1.04 - significant
contract signed with Airworks on behalf of major Airworks
client, Woolworths - conditional on certain commercial
criteria - based on satellite broadbank to 700 Woolies
stores - includes additional hardware sales opportunites -
hailed as vote of confidence in NewSat solution which went
live Oct03 (could be commercial criteria have been met so
the build up could be related to this
announcement)
4) Director share purchase:
Clinton Starr 20/1/04 - disposed 802,809 for $47,595 in
January, 6/2/04 - disposed 2.5M for $209,668 in Feb,
shares remaining 25.5M, so disposal did not represent a
large percentage of his total holding but an opportunity
to take advantage of increased share price.
5) 6.1.04 - USA Dept of
Defence now live in Iraq - opening of Middle
Eastern/African NSS6 beam - first customer US Dept of
Defence went 'live' - successfully implemented a hub that
enables broadband to over 30 countries - Multimedia's
Newcastle based space facility is considered to be one of
the most advanced VSAT communications Hubs in the world
with both the Aust and middle eastern services operating
simultaneously
6) 16.12.03 - two tranches of
options were issued a) 35M @ 10.5c b) 55M @ 8.75c (exp
1.12.08) were allocated
7) Change of Directors
Interest Notice: 4.12.03 - John Walker - acquired 83,333
$5K, sold 25,000 $2.5K - held after change
643,333
8) Change of Directors
Interest Notice: 4.12.03 - Adrian Ballintine - acquired
166,666 $10K - held after change 31,008,976
So far, with the exception of
number of shares and number of options on issue in terms
of liquidity, all very, very positive.
9) 3.12.03 - allocation of
shares as result of SPP (share purchase plan) - a) 249,999
@ 6c and b) 15385 @ 6.5c
10) More director share
change announcements - not yet viewed
11) 13.1.03 - delivers
broadband - WaveCall, the world's leading provider of
Maritime Satellite Voice and Data Services has selected
Multimedia's NewSat services to exclusively deliver
broadband to ships at sea within Aust coastal waters
utilizing SeaTel's state of the art antenna system.
Service available during first quarter 2004.
12) 14.11.03 - Chairman's
address to shareholders: very positive - refers to VSAT as
having extraordinary potential
13) 1.10.03 - full year
accounts $16,027,818 net loss in 2002 was quite high but
was reduced by 30 June 2003 to $5,623,809. As at 30.9.03
company had liquid funds of $1,696,375. Events subsequent
- $4.25M capital raised through clients introduced by
Findlay & Co Stockbrokers. Reduced costs, supplier
relationships improved and broadened. Director's shares as
at 30.6.02 - 63,483,977. Total liabilities were $7,264,224
and without recent financials it is difficult to ascertain
current revenue, debt, (and possibly profit)
levels.
The wise and cautious would
wait for release of financials before committing. This
does not mean that everyone will wait for this as a look
at the buyer volume tells us that there is anticipation in
the air. Perhaps an anticipation of a half-year
report.
A) Suffice to say the
release of positive/optimistic financials would push this
higher. Loads of potential if they keep up this
progress.
B) Providing cash burn is OK,
debt has remained stable or has been decreased, and sales
are continuing to come in, it should remain relatively
stable but this would depend on market sentiment, i.e.; it
appears the market is anticipating good news. Because Mr
Market is very sensitive, he doesn't like it when his
expectations have not been met. This could cause some
volatility, which is a higher risk when liquidity is an
issue due to higher total share volumes.
C) Anything outcome other
than A) or B) is likely to cause a sell off.
Regards,
Cris
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