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Motive Television

  • BY: Andrew Hore |
  • POSTED: 27/05/2015 |

Motive Television has been manufacturing even more shares.

Even though, Motive TV consolidated five shares into one new share in March it still had to issue nearly 1.64 billion shares at 0.011p each to satisfy the conversion of £180,000 of convertible debt owned by Bergen, which takes the number of shares in issue to 18.5 billion (equivalent to 92.6 billion prior to consolidation). The current share price is 0.00925p.

In January, Bergen converted £700,000 of debt at 0.014p a share but that was before consolidation so the equivalent price was 0.07p a share.

In between times, Motive TV managed to persuade investors to subscribe for shares at 0.015p each (0.075p pre-consolidation) in order to raise £1m.

To put this in perspective, shares have been issued for a total of £1.88m this year but the company is capitalised at £1.17m.

The convertibles still held by Bergen are worth £641,838 – possibly another 5.8 billion shares if they are converted at the same price. That is further heavy dilution.

Motive TV has still not published its 2014 results.

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