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This company
has re-invented itself many times over the last 15 or so years. In
1999 it was a Cinema operator, hence the name I suppose. It was part
of the dotcom boom in and around 2000 when the old shares hit 13p or
more. Many were swept in at the time of the over exuberant boom,
paying 10p or more per share. Alas some failed to sell out as the
price dived off the cliff, along with about 99% of the other
over-hyped Dotcom minnows. Clinton and Blair, with comments on the
"new economy" were a significant part in the internet
inspired boom.
Most of the PCM
investments at the time folded or were written off. This site has a list
of some of them. The Chinese Channel and other TV interests were
aquired, and in the case of Sirius, were hastily dropped. Sirius had
apparently recovered, last I heard, and has interests you can see in
the UK. A shopping channel was also developed, and is still running,
moving to catalogue form perhaps and under the banner Responz TV in
Asia. At the same time a substantial stake was taken in an IMAX
Cinema venture, Bella Media, with very
influential backing, or so it seemed. That has now been sold - the
projects are taking so long to even start, let alone reach fruition!
This appears to be about to start building in Monterey
The company has
not, over the whole of this time used "rights" or other
fundraising from "ordinary" shareholders, but HAS been
supported by loans etc. from well heeled individuals or other
companies. Currently a major amount (over 90%) of the shares are
controlled by one such company MediaXposure.
The latest move
has been detrimental in a sense to many of those who were sucked in
by the dotcom boom and held less than 40000 shares. It has allowed
them to sell without costs, but only realising a pittance in a
cheque, plus a CGT loss for possible use. Effectively if you held
more than 40000 shares, you have now 1 new share for every 1600 old.
40000 = 25.
There has been
a substantial board change, and a reduction in costs (no compensation
etc) both here and elsewhere. That bodes the question as to how much
was being overspent in the past does it not? The new shares began
Trading on 2nd August at about 58/60 and there is quite a lot of
movement between brokers up to the time of this post. Actual
shareholder deals appear so far to be less than 50% of the overall
trades. Now (December) trades have evaporated to almost zero.
At the close
today (3rd. August) the shares are at an equivalent of the trading
low a few weeks back. Could this be a "double bottom"
situation? We still have the move to AIM to negotiate. Could that be
a cause for reassessment or even some announcement(see below)? Has
the ResponzTV site gone
offline incidentally?
It was being
edited apparently - and since there is a proposal to rename the
company with that name I would anticipate a relaunch of the site at
the same time. Trading does continue, with a considerable reduction
in costs. Shares are now 16-17p only,
The move to AIM
was at the end of December 2006, trading at only 16p. The
announcement re Reliant International Media came shortly after that
(22 Jan). There is also a new site here.
It has links to "infomercials" about the new products
listed! File sizes are large! 90mb! and they were created by Reliant!
Clearly aimed at high speed broadband! It actually works too! |
