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Got a big pile of something.. Store it away and hope it doesn't rot...
They are playing games. With 60k volume they're trying to shake. lmao
Yup MMs moved off the 006x range! 0087 up
It seems mm are working hard to shake people for shares. A brilliant future is on its way!!!
Yup.....MMs on the ASK 2 minutes before the bell were @ 008 then 0075 then 006x. Manipulation for sure IMO
LCNMQ
Shorted and manipulated down starting before the bell even opened at -50%. Ridiculous.
9/17/2015 8:00:00 AM
IMIMOBILE COMPLETES ACQUISITION OF ARCHER DIGITAL IN SOUTH AFRICA
London & Johannesburg, Thursday, 17th September, 2015 - IMImobile, a leading global provider of mobile engagement technology and solutions, today announced the acquisition of Archer Digital (Archer). Archer is a company specialising in mobile engagement solutions for banking and government across South Africa. The acquisition will support IMImobile’s international growth plans and expand its product and customer portfolio.
The purchase of Archer, based in Johannesburg, further enhances IMImobile’s footprint across Africa, also adding customers spanning banking, retail and government sectors among others. Archer’s products, which include patented solutions for mobile bank statements, reminders and transactional payments, will be integrated and offered as part of IMImobile’s portfolio of enterprise mobile engagement products.
Jay Patel, Chief Executive of IMImobile commented: "We see tremendous opportunities in Africa for enterprises to use mobile as an engagement channel driven by the explosion of mobile devices and better networks as well as the limitations of the physical infrastructure. Archer has been successfully working with leading blue chip clients over many years and we believe that combined with IMImobile’s software and solutions we will be able to leverage the existing client relationships and deep experience of the Archer team to seize this great opportunity.”
Over the next seven years mobile operators are planning to spend $100bn in expanding their coverage and capacity across sub-Saharan Africa and smartphone penetration is expected to grow to 525 million in 2020 according to the GSMA; an increase of over 600% from 72 million in 2013. IMImobile will utilise Archer’s existing infrastructure and presence in the South Africa market to expand the penetration of its portfolio of enterprise products across the region, while enabling Archer’s technology and products to be offered to new international markets outside of South Africa as part of IMImobile’s global operation.
Ross Venter, CEO of Archer said: “We are delighted to be joining IMImobile and the integration of both companies will take place over the next six months. Our customers will continue to receive the highest level of service and will now also have access to the combined benefits of our product portfolios to harness the power of mobile as a key part of their business strategy.”
Archer, which will continue to operate under its existing name, is now a subsidiary of IMImobile. Under the terms of the agreement IMImobile will pay $5.6m in cash. Archer Digital was founded in 2005 and provides a feature-rich suite of m-engagement products to clients across banking, satellite services, mobile operators, retailers and municipalities. The company has enjoyed year on year growth since its inception and employs 50 people in Johannesburg.
*** End ***
About IMImobile PLC
IMImobile is a leading global technology company providing software and services which help businesses capitalise on the growth in mobile communication. Its services, delivered in over 60 countries in Europe, the Americas, MEA and India, help its clients to engage and transact with their customers more efficiently through smarter mobile engagement. The company’s solution allow customers to use mobile as a channel to create new revenue streams, as CRM and customer engagement channel and as a channel to improve business operations.
$300 on the ASK LCNMQ Thin IMO
I agree stervc it appears they will use this to gain access to US markets
Yup equity was purchased. S/S Neil remain unchanged. IMO IMI wants to trade in the U.S. and will use this she'll
LCNMQ
I read that but I also read the part that says, "The Company was the sole owner of all issued and outstanding shares of Lenco International Limited BVI (“Lenco International”) prior to the sale. Lenco International owned, through its subsidiaries, all of the Company’s South African business, which is the subject of the sale described herein."
Using a figure of 82,145, 314 OS divided by $5.6m only makes a purchase price of 6 cents.
Am I missing something?
“Pursuant to the terms of the SPA submitted to the Bankruptcy Court for approval, IMI agreed to acquire all issued and outstanding shares of Lenco International for the total purchase price of $5,600,000 (the “Purchase Price”), comprise of (i) cash at closing payment in the amount of $5.2 million, and (ii) deferred consideration of $400,000 to be paid within 90 days of the closing date. …”
The part that concerns me is this...
"The Company was the sole owner of all issued and outstanding shares of Lenco International Limited BVI ("Lenco International") prior to the sale. Lenco International owned, through its subsidiaries, all of the Company's South African business, which is the subject of the sale described herein. Pursuant to the terms of the SPA submitted to the Bankruptcy Court for approval, IMI agreed to acquire all issued and outstanding shares of Lenco International for the total purchase price of $5,600,000 (the "Purchase Price"), comprise of (i) cash at closing payment in the amount of $5.2 million, and (ii) deferred consideration of $400,000 to be paid within 90 days of the closing date."
If the company was the sole owner of all shares then where does that leave the commons? It sounds like they bought the preferred shares?
Took some .008s keep dropping I'll add
Trades way thin your gonna get shaken out.. Goes both ways quick.
Bid ask undercut 0066 up p/m
Major_Bankz, with this LNCMQ strangeness...
I agree that such was strange, but strange in a very good way. IMImobile is a $8.1 Billion+ company. They could have just acquired the assets of LNCMQ and allowed the stock to just cease to exist or trade. That's what you normally see in these bankruptcy cases with a stock.
Not here with LNCMQ. Instead of ceasing to exist to where the equity gets wiped out to be worth absolutely nothing, IMImobile acquired/bought 100% of "all" of the Issued and Outstanding Shares of LNCMQ.
Because of such action, I am strongly inclined to believe that IMImobile truly must have a plan for using the public vehicle of LNCMQ trading within the US Markets. Patience could transform into something very lucrative.
v/r
Sterling
so what happpens to my shares? i tried to do some DD but i keep finding a bunch of hoopla
Acquired Equity= Good news, Acquired the assets only= bad news . Glad they chose the first option. imo!
Acquiring 100% of stocks means acquiring all the liabilities as well, Why not Acquire the assets only since its in Ch. 11 ?
I think they are planning to keep it as a separate entity, reason for acquiring 100% of the stock.
This is a strange deal, They could have just acquired the assets but instead they acquired 100% of the stock. Of course its good for the stock maybe they are planning to enter the US market?
http://www.imimobile.com/press_releases_detail?newsid=134
Archer, which will continue to operate under its existing name, is now a subsidiary of IMImobile. Under the terms of the agreement IMImobile will pay $5.6m in cash. Archer Digital was founded in 2005 and provides a feature-rich suite of m-engagement products to clients across banking, satellite services, mobile operators, retailers and municipalities. The company has enjoyed year on year growth since its inception and employs 50 people in Johannesburg.
IMImobile (Multi-Billion$ Co.) acquired all of LNCMQ…
To put things into perspective, IMImobile is a multi-billion dollar company. IMImobile acquired ”all” of LNCMQ. IMImobile is far too big of a company to suspect anything other than success for LNCMQ from this acquisition. I think this IMImobile acquisition of LNCMQ is because of them having some major plans for success for the company as I presume after reading through the 8-K that was filed with the SEC below:
http://ih.advfn.com/p.php?pid=nmona&article=68933495&symbol=LNCMQ
LNCMQ mbay gone completely and .02 back up on huge 8-k today.
.03s on deck
LNCMQ .025 falling! Nice post Sterling.
She's gonna blow
MMs moving up to 03 range
Lone Wolf, with LNCMQ...
I feel you. Me either, but I was able to throw a little lunch money at it this morning. I have more research that I will share later today about LNCMQ when I get back to the computer sometime this afternoon. I believe that there is much going on from huge companies involved that will pleasantly surprise the few of us investors that are here.
v/r
Sterling
Looks like she's got more in her..
What a move. Haven really been able to get what I want here. Trading too thin.
Yup just saw it! LNCMQ .05 coming IMO
VMB-1, with this LNCMQ move...
The acquisition/merger here with LNCMQ is actually bigger than what I had originally thought after doing a little more research, which is probably why the price has not come back down. I'm guessing that we are definitely not the only ones learning about LNCMQ.
v/r
Sterling
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Lenco Mobile Inc (LNCMQ) 8-K
http://ih.advfn.com/p.php?pid=nmona&article=68933495&symbol=LNCMQ
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