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HML - Henry Morgan

Discussion in 'Stocks 0-H' started by System, Oct 11, 2015.

sentifi.com

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  1. skc

    skc Goldmember

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    Yeah I could never figure out their end game. Did they think they can bundle some fringe financial companies together and flock off JB Financial in a real public IPO (i.e. IPO not backed by their own insider money)? Or were they going to attract more funds other new listed entities and then steal the money and exile on their pirate ships? Just bizarre.

    I can't wait to see how much money they actually made with their trading and global calls. My guess is fk all given how busy they were decorating their office with pirate themes and making up $hit.
     
  2. McLovin

    McLovin

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    Wouldn't that just be the NTA that the auditor signed off on. I mean they basically made some big swings on binary outcomes and they were right. Had it gone wrong it didn't really matter because they had the BS "proposed estimate" (I still LOL at that) of NTA to fall back on.
     
  3. skc

    skc Goldmember

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    May be... but given the dodgy stuff they are doing, I put the probability of them actually trading anything to be low.

    Most of the funds within the entity are insider money, so if they are not competent traders (a reasonable guess - if they were they'd be trading and not doing these unlisted revaluation fraud) they wouldn't just take random bets on global events, using their own money.

    The half year report showed some profit but may be they could have closed profitable positions while keeping losses open and calling them hold to maturity or something like that?

    We will soon find out.
     
  4. galumay

    galumay learner

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    Well that was an entertaining couple of pages of reading, I had never heard of HML previously. I shall await further instalments from you guys!

    (You didnt just make all this up as some sort of ASF in joke, did you??)
     
    Value Hunter likes this.
  5. ansgar

    ansgar

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    There's many defenders of the pirate crew... Even some people willing to invest in the JBFG IPO!
     
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  6. McLovin

    McLovin

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    The threads on HC about this are like a Monty Python sketch.
     
  7. McLovin

    McLovin

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    I give these guys full marks for audacity. They have ASIC crawling all over them, they've been suspended for months, but they're still up for buying the franchise to an aviation themed chicken wing restaurant. It has the usual complex accounting to go with it. The master franchise, Birdzz, will pay US$1.1m to the brand owner Wingstop as a license fee. Of course Birdzz (which is wholly owned by Bartholomew Roberts Ltd – which is unlisted) doesn't have any money, and apparently neither does BRL, so they will issue a convertible note to JBL that converts or redeems in a year.

    If BRL doesn't have any money, then why doesn't JBL, or HML just acquire the franchise rights. What is the point of the unlisted BRL or its subsidiary being involved in the transaction? I'm fairly confident that when the note becomes due it will be converted for shares in Birdzz, not redeemed for cash.
     
  8. galumay

    galumay learner

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    Now I am sure you are just making it all up McLovin!
     
  9. skc

    skc Goldmember

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    You are aware that there are only a few individuals in this world who can claim to be an expert in trading global markets, managing fin techs AND know everything about fast food industry.

    Quote from Stuart McAuliffe... captain of pirate gang and every industry on earth.
     
  10. McLovin

    McLovin

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    You can hear the man explaining all.

     
  11. padman

    padman

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  12. greggles

    greggles I'll be back!

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    Henry Morgan not permitted to issue reduced content prospectus.

    https://asic.gov.au/about-asic/medi...ed-from-issuing-a-reduced-content-prospectus/

     
  13. McLovin

    McLovin

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    This company has been suspended for over 12 months. They shouldn't be allowed to raise money from retail investors, period.
     
  14. greggles

    greggles I'll be back!

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    Do you think HML will ever re-list? I can't quite figure out what they're up to. The back and forth between HML and the ASX in four installments between March and May this year is some of the most bizarre correspondence I've seen in that context.

    I don't get the pirate thing either. Henry Morgan. Bartholomew Roberts. WTF? :shifty:
     
  15. McLovin

    McLovin

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    Probably not. Just look at the please explain that the ASX sent to the HML yesterday. And this morning the terms for what is basically a related party transaction are released. In May HML said it was to receive $79.16m made up of $67.16m in cash and the rest as a convertible note for the sale of JB Financial to JBH. Today the terms are actually that JBH will issue a put option to HML that can be exercised at any time in the next five years for $67.16m (so probably never) and a $12m convertible note paying 4.1%. Quite a different scenario. You can connect the dots.
     
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  16. greggles

    greggles I'll be back!

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    They certainly get points for trying though.
    I'm looking forward to the ASX's response. :D
     
  17. greggles

    greggles I'll be back!

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    The ASX is still playing hardball with HML. No dice.

    screenshot-www.aspecthuntley.com.au-2018.07.05-09-11-40.png
     
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