MPG - Metro Performance Glass

[winner (n)]

Another director resigns with immediate affect.  Is Bad news coming.....

https://www.nzx.com/announcements/421388

He obviously doesn't want to be around for next update

[BlackPeter]

Oh dear ... HY results are out:

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MPG/422573/408442.pdf

Revenue down and earnings ...

well, I guess they nearly would have achieved breakeven thanks to amazing Australian efforts, but then they found this non cash item they had to write off. Damn!

Another 9.2 million down the drain, but at least Low E glass seems to perform.

Not sure either, whether the rest of the year will be more promising, but they promise that they will ask shareholders if and when they manage to close a deal to sell their only cashcow - their Australian sub.

[BlackPeter]

Unusual volumes on bid-side as well as on offer ... even if it still looks like a Mexican standoff.

Somebody tries to sell more than 15 m shares at 16 cents and somebody else offers 14.5 cents for more than 6 million shares.

Something happening?

You cannot view this attachment.

[bulltrap]

Unusual volumes on bid-side as well as on offer ... even if it still looks like a Mexican standoff.

Somebody tries to sell more than 15 m shares at 16 cents and somebody else offers 14.5 cents for more than 6 million shares.

I suspect Yahoo's order volume numbers have been broken for years. Wayback Machine historical snapshot (there's only one) from 2020 shows improbably-high numbers too.

Here's what I'm seeing on Jarden Direct... tumbleweed:

You cannot view this attachment.

[BlackPeter]

I suspect Yahoo's order volume numbers have been broken for years. Wayback Machine historical snapshot (there's only one) from 2020 shows improbably-high numbers too.

Here's what I'm seeing on Jarden Direct... tumbleweed:

You cannot view this attachment.

Fair enough - my mistake to check only on one page which I don't normally use for this service ;

Yes, Jardens numbers (though not always reliable either) look much more likely ...

[Shareguy]

Since my last post we have replaced a further 5 low E DG panels that had blue haze. What was surprising was that half way through the job they said they would no longer install but would supply to the original supplier and installer Fairview as per warranty. Fairview came and installed the panels all no charge and made the comment that they stoped buying from Metro years ago.

[winner (n)]

2 more directors gone / new downgrade / Oz not sold / banking syndicate support is only potential after October - hmmmm - how's that other woofer MFB going?


The newly minted M(N)PG  Chairs other gig is a soft drink company - love the sentiment - We share one goal, being a force for good, for our beautiful planet and people, as well as for your tastebuds GET IN TOUCH. Founder, Director. Shawn Beck.

Maybe M(N)PG has found its saviour

Not a good update eh Snaps

Reading between lines F25 is going to be pretty bad as well

[winner (n)]

Jeez ....MPG shareprice 9.4 cents

That's pretty low

Punters must be wanting to get out ...in a hurry?

[BlackPeter]

Jeez ....MPG shareprice 9.4 cents

That's pretty low

Punters must be wanting to get out ...in a hurry?

The dark before the dawn? But then, the depth is pretty thin, isn't it?

But hey, what do I know ... its some time the new board started with good intentions to turn the ship around. No announcement yet. Anybody knows more?

[Cod]

Capital Raise incoming to reduce debt.

its current intention is to raise at least $15m of capital by way of
an entitlement offer available to all existing shareholders. A placement may
also form part of the capital raise.

[Greekwatchdog]

The dark before the dawn? But then, the depth is pretty thin, isn't it?

But hey, what do I know ... its some time the new board started with good intentions to turn the ship around. No announcement yet. Anybody knows more?

They paid the price for ignorance and Arrogance. Now they can't win it back. Losing biggest customer hasn't helped as they haven't replaced it with anything substantial.

Just liquidate the business.

Good luck to you shareholders.

[BlackPeter]

Rasing $15m capital...Hmmm...good luck with that.

Well, yes they will need it. Just noticed that their current market cap is just slightly above 17m - i.e. they want to double their capital!

2.5 new shares for every existing share at 4 cents?

Not sure I would want to participate as shareholder.

Discl: I know, I would not ;

[LoungeLizard]

From bad to worse to awful to...game-over? A capital raise in the state they are in? Just another company using shareholders funds as a bank whilst at the same time destroying their capital. Hard to see who might be interested in paying for the lifeboats whilst the ship is going down... 

[BlackPeter]

Jeez ....MPG shareprice 9.4 cents

That's pretty low

Punters must be wanting to get out ...in a hurry?

Well, I am pretty sure compared to the price of a new share in the CR the 9.4 cents will look pretty flash ; Maybe somebody with the right inkling ...?

[Greekwatchdog]

From bad to worse to awful to...game-over? A capital raise in the state they are in? Just another company using shareholders funds as a bank whilst at the same time destroying their capital. Hard to see who might be interested in paying for the lifeboats whilst the ship is going down... 

I can think of a couple who could buy it then integrate with existing business.

From memory they still own the property so if thats the case sell and and lease back.

You would be brave to buy and take on challenge and start from scratch.