MICT Inc (MICT)

[The iron man]

My price target is .45-.50, no later than 1:30pm. Take it or leave it...

[tiger3]

Will back
down very quickly from the past records.

[crudeoil24]

MICT > Key Terms of the Transaction:

GFH successfully raised $23.5 million at $1.65 per share to fund the transaction (the "Financing").
BNN Technology PLC, a 15% stockholder in MICT and majority stockholder of Brookfield Interactive (HK), will commence a tender offer to purchase up to 20% of the issued and outstanding shares of MICT's common stock, not already owned by it within 15 business days at a price of $1.65 per share, in order to increase its ownership percentage of MICT to a maximum of 35% (assuming full participation in the tender offer).
MICT and GFH will complete a merger whereby MICT will become a wholly-owned subsidiary of GFH.
Brookfield Interactive (HK) shareholders will transfer to GFH all of the issued and outstanding shares of Brookfield Interactive (HK), resulting in Brookfield Interactive (HK) becoming a wholly-owned subsidiary of GFH.
ParagonEx's shareholders will transfer all of the issued and outstanding shares of ParagonEx to GFH, resulting in ParagonEx becoming a wholly-owned subsidiary of GFH.
At or within sixty (60) days of the applicable record date, GFH will spin off MICT's interest in Micronet Ltd., a partially owned subsidiary traded on the Tel Aviv Stock Exchange under the ticker MCRNL, to its shareholders who retain shares of MICT after the tender offer.

[novicetrader]

Trying to dig deeper into this, here is what I find:

From the last 10Q filing:
As of November 19, 2018, there were 9,342,115 issued and outstanding shares of the registrant’s Common Stock.

From this present news release:
MICT Shareholders (other than BNN's current ownership, and assuming that no shares of MICT are sold in the tender offer) – 9,048,077 ordinary shares of GFH, representing approximately, 5.27% of GFH

Are they saying each MICT shareholder will get (or is equivalent to) 1.03 shares of the new entity GFH
( 9,342,115 divided by 9,048,077) ?

My brain is hurting trying to figure out the math,lol!

[MTH4]

I saw that too and have the same question as you.

[novicetrader]

At long last the anticipated news comes out, had almost given up on this! One thing I'm still unclear about though-they say BNN will purchase another 20% MICT shares(making their MICT holding 35%)-what about the remaining 65%?Will all of us be able to get the promised $1.65?Or will it only be some MICT holders who will be able to get that price?

BNN Technology PLC, a 15% stockholder in MICT and majority stockholder of Brookfield Interactive (HK), will commence a tender offer to purchase up to 20% of the issued and outstanding shares of MICT's common stock, not already owned by it within 15 business days at a price of $1.65 per share, in order to increase its ownership percentage of MICT to a maximum of 35% (assuming full participation in the tender offer).

[MTH4]

Here is news release link below on MICT merger.

https://finance.yahoo.com/news/mict-brookfield-interactive-hong-kong-224800197.html

[MTH4]

I saw this today on BNN ADVFN England board about reverse mergers and listing on NASDAQ and I am wondering if these rule would apply to MICT if this reverse merger goes through in regards to this new company being listed on the NASDAQ at this link.

https://www.sec.gov/rules/sro/nasdaq/2017/34-80888.pdf

At link I posted above one scenario requires a $4 NASDAQ listing price minimum and another alternative price minimum of at least $2 or $3 on NASDAQ
Member mars00 posted this link above today on the BNN ADVFN Board in England and I posted direct link to that board if you want to read this for yourself. I am thinking if an eventual listing on the NASDAQ would occur for this new future company if this reverse merger goes through between MICT BNN and a third party at the very minimum $2 this would be a huge increase from share price today and even a 67% gain for me with my average of $1.20 a share for MICT. Would these be the correct SEC laws that would apply if this reverse merger goes through.

https://uk.advfn.com/stock-market/london/bnn-technology-BNN/share-chat?

[ClayTrader]

* * $MICT Video Chart 11-23-18 * *

Link to Video - click here to watch the technical chart video

[420man]

And another Holiday squeeze!

[MakeaFuss]

Hey chemist...This one blindsided me also. Been at this for 35 years
Thankfully, I needed money and sold 1/2 my position at 1.54 long ago.
Really thought this guy Lucatz was on the up and up. Have a broker friend that spoke with him on a regular basis and I still took a hit.
I think this guy could care less about shareholders. He was just out to line his pocket. Screw the shareholders!!

[chemist72]

Ouch, sold all my shares today for a loss of $5K.

Played this one like a beginner. Shame on me. Luckily I can use this loss to offset some large short-term capital gains on another stock. (I think you know what that one might be. Starts with a "P".)

[value1008]

From p. 19 of their earnings news report today (disclosure-- i don't own any shares):

Results of Operations

Three and Nine Months Ended September 30, 2018 Compared to Three and Nine Months Ended September 30, 2017

Revenues for the three and nine months ended September 30, 2018 were $2,216,000 and $12,897,000, respectively, compared to $5,473,000 and $11,937,000 for the three and nine months ended September 30, 2017, respectively. This represents a decrease of $3,257,000 and increase of $960,000, or 59% and 8%, for the three and nine months ended September 30, 2018, respectively. The decrease in revenues for the three months ended September 30, 2018 is primarily due to a decrease in customer orders, and their value, a trend that has continued throughout the current fiscal year. The Company is experiencing a significant decline in the rate at which it receives new orders, against the background of a record volume of orders recorded by the Company at the end of 2017, which contributed to the high revenues in the first half of 2018. The decrease in orders received this year has had a significant effect on the low revenues recorded in the third quarter of 2018. The reasons for the decrease in the volume of the orders are the delay in the launch of our fourth generation products, high levels of inventory among the Company’s customers and increased competition in the market for the Company’s products

[MTH4]

Wish I knew the awnser to your question so we are in the dark here for now.

[MakeaFuss]

If we've got a deal why does this POS keep going down?? 63 cents!!
This guy Lucatz is scum!!

[novicetrader]

been reading that thread regularly, lots of discussion there, will see how this thing finally plays out, but still holding patiently.

[MTH4]

The BNN shareholders received news most likely today or yesterday and the sentiment is that a deal will be made in December with potential Nasdaq listing of new merged company on January 1 2019. If you go to the BNN ADVFN Board link I posted they are many discussions about all this and I saw at least one message where someone pasted something directly from this news release. I could not find a link so I think this news update was only sent to shareholders. I have shares from around the $1.20 range that I will continue to hold long.

[MakeaFuss]

This stock looks like sheet!!
Still holding 1/4 of my original position. Something is obviously wrong with the merger. Wish I'd dumped it all...
This clown David Lucatz got his money and appears to give a rat's arse about shareholders! Typical BS in this segment of the market!!

[MTH4]

There have been 150 messages posted on the BNN board in England between Novembes 11 and so far today November 13 at link below.

https://uk.advfn.com/stock-market/london/bnn-technology-BNN/share-chat?nomobile&_ga=2.52333162.254638932.1542123943-106876345.1542123943

[MTH4]

150 messages have been posted on BNN board in England at link below between November 11 and so far today November 13.


There has been a lot of discussions going at this BNN board in England concerning the merger of MICT with BNN and a third party and you can read all about it at the link below for your information. You can also get a free membership with them to post new messages and respond back to messages.
https://uk.advfn.com/stock-market/london/bnn-technology-BNN/share-chat?nomobile

[MTH4]

There has been a lot of discussions going at this BNN board in England concerning the merger of MICT with BNN and a third party and you can read all about it at the link below for your information. You can also get a free membership with them to post new messages and respond back to messages.
https://uk.advfn.com/stock-market/london/bnn-technology-BNN/share-chat?nomobile

[tmeier]

Went to crap!What happen to all the talk of big contracts 5 dollars by eoy.lol.Pumpers Stink!

[MTH4]

Yes I saw he filing thanks.

[novicetrader]

Quoting portion of the SEC Proxy filing(annual meeting 26th day of December, 2018) filed just yesterday (Nov 8) linked below, it looks like the BNN transaction is still on(at least the fact that it is not 'off' is something positive):


....if we proceed with the proposed transaction contemplated in the letter of intent with BNN Technology PLC, as previously reported (the “BNN Transaction”), we intend to issue awards of up to an aggregate of 1,700,000 shares of our Common Stock under both the 2014 Incentive Plan and the 2012 Incentive Plan (as hereinafter defined) to our officers, directors, employees and consultants assisting with the BNN Transaction. If this proposal is approved, we expect to have sufficient shares available under the 2014 Incentive Plan for the next 12 months. Our Board believes the ability to grant stock options and other equity awards provides us with a powerful and necessary mechanism to attract and retain directors, ....

See
PROPOSAL NO. 3 – APPROVAL OF AN AMENDMENT TO THE COMPANY’S 2014 STOCK INCENTIVE PLAN
https://www.sec.gov/cgi-bin/browse-edgar?CIK=MICT&owner=exclude&action=getcompany&Find=Search

[MTH4]

Yes I am also glad we held our shares here. Hopefully we will get a deal announcement soon with a much higher valuation for MICT in the near future.

[novicetrader]

glad we held on through the MICT panic of last week,it surely was scary!Looking much better now even though we are still in the dark about what's going on with the $1.65 Tender offer deal.Hoping for the best here.Good luck to all who held on.

[MTH4]

Yes I agree that MICT is worth more than this alone. Market is pricing that deal is broken and even lower than MICT is valued on its own. Hard to believe and we are all in the dark about what really could be happening.

[novicetrader]

I'm holding too (for now at least). Have always regretted whenever I've panic sold before, lol! Wish the companies(either MICT or the UK one BNN) would put out something as an update.But the way I'm seeing it is-even in the worst-case scenario(of deal being dead),the company MICT should be worth more than today's prices!Let's see how this all plays out.Good luck on this.

[willlbone]

Got some bids here.
Under 60 cents.

[MTH4]

Not sure exactly. MICT hit 70 cents today at 75 cents now. I am down too much and have to hold. Hard to believe and we do not know for sure what is going on. Wished I would have sold all at break even last Thursday.

[bigcat2]

MICT - Add this to the long list of losers someone has picked

MICT
NURO
IZEA
DCAR
BKYI
SIGO


Is there hope for any of these?

[novicetrader]

what would be the intrinsic value of MICT by itself?Even if the deal falls through?I'm thinking at least a buck,right?Then why is this falling so hard,not making sense.Panic sellers maybe?

[novicetrader]

neither did I expect this to be below a buck, but thinking maybe the fact of being the lowfloater that it is, might be the reason for the big swings.It is a bit nervewracking, but hoping it will play out well soon.My avg is now $1.01.

[MTH4]

Did not expect we would go under a $1 here with recent action.

[novicetrader]

Got some more @ 0.90 now, just couldn't resist, hope I don't regret this,lol!

[MTH4]

I was just checking and MICT released their 2nd quarter results on August 15 so I would think that 3rd quarter results should be out around November 15.

[novicetrader]

Found this detailed July 2 press release & few other links (these might've been posted before but might be helpful as a recap for us new investors).The '3 months' from July being mentioned everywhere doesn't look like it was set in stone(can't seem to find PR where that was stated-recall seeing somewhere though).From the looks of it seems the deal isn't dead(at least yet,lol), so maybe recent volume action is encouraging.Company quarterly report should be soon,right?


http://www.bnntechnology.com/~/media/Files/B/BNN-Technology/BNN%20and%20MICT%202%20July%202018.pdf

http://www.bnntechnology.com/

https://www.sec.gov/Archives/edgar/data/854800/000161577418006111/s111197_sctoc.htm

[novicetrader]

Got a MICT starter here @1.12. Nice volume today on this low float play.ash, you still in this?

[krk1030]

What's going on here?

[ash111]

Hi, MTH4, MICT Revenue increased by 25% and 65% to $4.7 million and $10.7 million for the three and six months ended June 30, 2018, respectively. Profit Margin expected to Increase no matter BNN deal. Its a complex merger, If i got it right:
BNN Technology acquired a 14.89% stake in the company at $1.65/sh

BNN + another co. will buy an additional 35% stake of at least $1.65/share ( to 50.1% Ownership) and will be trading at $160m.

MICT to raise $26-$36m and will acquire BNN.
Btw, i think you are holding potential pot stocks. I also own a few you have mentioned

[MTH4]

Ash what happens to MICT if the deal will BNN and.a third party falls through? Without this deal that would offer new expansion will they still be able to become profitable in the near future? Earlier I messaged you on MIII but meant CIIX. I thought you were optimistic about this one but it was actually someone else on your board. It was unclear to me if China trade war going on could have impact or not on CIIX. I have DTEA GWPH INSY and ZYNE on my watchlist if I get some cash freed up. Appreciate you and Kei continued excellent ideas on your IHUB board.

[ash111]

Yes

[ralphrotten]

Ash. Are you holding any MICT?

[value1008]

I'm presently NOT holding shares (never had many to begin with); i may buy back in at some point, but i hope for all longs that the stock jumps hugely and sooner than later

[MTH4]

Hello value1008
Just wondering if you are still holding MICT. Saw this message below recently from Twitter MICT board that there is a 60 day window from the July 2 press release where other companies can make a bid which would start tomorrow. I was surprised a deal was not made this week and we are all probably getting a little impatient at this point. Any thoughts on how this may impact MICT?

With balance sheet, revenues and pipeline, stock seems cheap even without the deal and beginning September 2nd, other companies can make a bid, so timing seems in favor of a tender soon

[value1008]

Well, on early morning of Aug 15 they're holding a conf. call to hopefully clarify some of those items on their financial and balance-sheet statements.

----------
MONTVALE, N.J., Aug. 12, 2018 /PRNewswire/ -- MICT, Inc. (NASDAQCM: MICT), announced today that it will release its financial results for the second quarter of 2018 on August 13, 2018 after market close and will host a conference call on August 15, 2018 prior to the open of the market, to discuss the results at 9:00 a.m. Eastern Time that day.

The Company invites all those interested in participating in the call to dial: 1-888-281-1167. Callers from outside of the U.S may access the call by dialing 972-3-918-0685. Please dial a few minutes before 9:00 am Eastern Time. Participants may also access a live webcast of the conference call through the Investor Relations section of MICT's website at: www.veidan-stream.com/micronetq2-2018.html. A slide presentation accompanying management's remarks can be accessed at Investor Relations section of www.mict-inc.com.

A telephone replay of the call will be available for two weeks at: 1-888-326-9310, outside of the U.S: 972-3-925-5936.

[chemist72]

Let me know what you think tomorrow when you get a chance. Thanks!

Their balance sheets are confusing me.

[value1008]

Chemist, i think when one subtracts the losses from the discont'd operations, it comes out to about even. I could be wrong on that. I'm on my cellphone and can't easily check the filing....

[chemist72]

I'm trying to figure out if they gained or lost money in Q2.

Is this the number I should be looking at?

Net loss from continued operation:

Three months ended
June 30

(1,347)

So they lost about $1.35M in Q2?

Going forward, is MICT forecast to become profitable this year or next??

-TIA

[value1008]

Chemist, that big earnings gain was "a capital gain from disposal amounting to $6,844 [thousand, i.e., $6.844 million]" on the sale of Enertec to Coolisys.

So it's a one time gain.

More positively going forward, Enertec's losses won't be dragging down MICT's earnings from their continuing operations.