You are just a spoil-sport Blinger. Give me my 10 minutes of fun, I have earned the right (well, I have certainly paid for it)

lol pach, I admire a bloke who copes with failure so well- I bgt. Yorks Group some years back- just claimed the 5k loss on my tax-return, they are "of negligible value",as the IR so eloquently put it, stop losses ?moi?

lol@ we the downtrodden.

Come in yuff, the Cardies need your Company Law advice, hello guru, your brainpower is sadly missing, come in Moneylender they need a fewm,

ROFLOL@THE BRAIN-DEAD.

Disposal

RNS Number:5405X
Tadpole Technology PLC
27 January 2006


Tadpole Technology plc ("Tadpole" or "the Company")

Proposed sale of majority interest in the Streaming Division
and issue of a $1.5 million convertible Note

On the 2nd December 2005 the board advised the shareholders of continuing
discussions aimed towards resolving its differences and today announces the
outcome of those discussions.

The Streaming Division continues to incur losses and requires further funding to
support its current trading activities and future business plans. The Board has
carefully considered whether it is in the best interests of shareholders to bear
the entire risk of the necessary additional investment, given the uncertainty of
the timing and value of potential rewards. The Board has concluded that the
Company, as a small UK plc with limited financial resources, is not the most
appropriate vehicle to lead this investment role. Accordingly, the Board has
decided to sell a majority interest in the Streaming Division and has in
principle, subject to certain conditions, agreed to a three stage proposal with
DivestCap Management Corporation ("the Investor"), a New York - based private
equity firm that specialises in funding and growing software divestitures. If
all three stages are consummated Tadpole will have divested 80% of its Streaming
Division (comprising StreamTheory, Inc. and Endeavors Technology, Inc.) for a
cash consideration of $12.0 million, before expenses, retaining an equity
investment of 20%.

For the financial year ended September 2005 the Streaming Division incurred an
operating loss of #8.9m (a loss of #1.1m before goodwill amortisation and
impairment). The assets attributable to this division at the year end were #1.4m
gross and net liabilities (including deferred revenues) of #1.0m net.

The Company has signed, on 26 January 2006, definitive legal documents for Stage
1 and non-binding term sheets for Stages 2 and 3. Stages 2 and 3 are subject to
conditions including Investor approval, satisfactory additional due diligence,
definitive legal documentation and Tadpole shareholder approval. Under the Stage
1 agreement, described further below, the Company has issued a convertible note
("the Note") for $1.5 million which is convertible at the option of the Investor
into 49% of the share capital of StreamTheory, Inc. and a call right to purchase
21% of the share capital of Endeavors Technology Inc upon the occurrence of
certain events including consummation of Stage 3. The Stage 2 term sheet
proposes that the Investor would acquire 31% of the fully diluted share capital
of StreamTheory, Inc. for $3.5 million in cash and conditioned upon completing
the Stage 3 transaction. The Stage 3 term sheet proposes that the Investor would
acquire 59% of the fully diluted share capital of Endeavors Technology, Inc. for
$7.0 million in cash.

Following completion of Stages 2 and 3,, and the exercise of the conversion
options referred to in Stage 1 above, the Investor would own 80% of the
Streaming Division.

The Note, which is secured against all the assets of the Company, has detachable
warrants ("the Warrants") and carries interest at Wall Street Journal Prime plus
2% per annum set and payable on a calendar quarter basis. The Note is repayable
12 months after issue with the option, if the Investor elects, to extend the
maturity by an additional 12 months. The principal amount of the Note is
convertible as described above, in whole or in part, at the option of the
Investor.

The Warrants entitle the Investor to purchase up to 17 million ordinary shares
("the Warrant Shares") of the Company at a price of #0.01 per share. The
Warrants are subject to full anti-dilution protection and are exercisable at any
time, in whole or in part, for a period of 5 years from the 26th January 2006.

Further updates on the progress of the transactions will be provided as
appropriate.



This information is provided by RNS
The company news service from the London Stock Exchange

So the 'Stream Dream' dies. In truth, it was always a nightmare.

Well, well, well. Another 12 mill to play with - this saga could continue for ages. It seems a good idea to get rid of Stream (whilst maintaining a minority shareholding). It's never dull being a Tad holder !

does make the results later today seem more interesting if you take out SD losses.
If GSD manages a couple of million profit and lets say a p/e of 15 that means the valuation should be in the regiong of 35m more than double the current sp.

initial results out, disappointing GSD increased t/o but profits droped to 700k.
At least MK will have some cash to spend or tad could always do a share buy back with the 7m.

Results disappointing as ever - now let's see how they spend the money (preferably not on inflated salaries).

Tadpole to sell up to 80 pct stake in Streaming ops for max 12 mln usd UPDATE
AFX


(Adds full-year results)

LONDON (AFX) - Tadpole Technology PLC is to sell up to an 80 pct stake in its loss-making Streaming Division to a US private equity firm after concluding it did not have the resources to develop the unit itself.

Tadpole has in principle, subject to certain conditions, agreed to a three stage proposal with DivestCap Management Corp, which specialises in funding and growing software divestitures.

If all three stages are completed, Tadpole will have divested 80 pct of its Streaming Division, comprising StreamTheory and Endeavors Technology, for 12.0 mln usd cash.

Under the Stage 1 agreement Tadpole has issued a convertible note for 1.5 mln usd which is convertible at the option of the DivestCap into 49 pct of the share capital of StreamTheory and a call right to purchase 21 pct of the share capital of Endeavors Technology upon the occurrence of certain events including consummation of Stage 3.

Separately, Tadpole said it narrowed its operating loss before amortisation of goodwill in the year to Sept 30, 2005 to 0.8 mln stg from 2.9 mln.

Sales grew 89 pct to 9.1 mln stg.

However, following a non-cash impairment charge of 6.7 mln stg for a reduction in the carrying value of goodwill, pretax losses widened to 9.2 mln stg from 2.8 mln.

newsdesk@afxnews.com

Brilliant play from the mm`s , suckered a load more in- then dropped the price, dreadful losses, dreadful spread, dreadful future, and yuffer calls for another Emergency General- erm- anaesthetic, to remove his nut from his butt.

Cardies all round

ROTFLMFAO!!!!

I fear you are spot on bling.

SP doesn't even pass the Oct SP when SW called his EGM.

The MM's are class masters and will probably suck another load of mugs in.

Everyone seems delighted. The board will be even more delighted. Hey ho.

Beggars belief.

One lives and learns. Guess it is time to bow out. Its been a pleasure.

Beau

I have no pleasure seeing your plight Beau, you had a go and it didn`t work out, thats investing,.eg. I cashed some Etam (French) shares just before Chrimbo, looked them up today in my Financial Times on-line Portfolio ( don`t know if you use it but its a belter, all world shares virt. covered- free registry) UP +35% a couple of days after I sold, what a world- shafted -lol!!!
Check out GLE on a long shot (T+25 then maybe a roll-over), they are being stalked, around 4 is on the table, they are fighting - could be fun to 4.50???- who knows,

best wishes.

A real slap in the face under the heading Going Concern in the Prelim. Results is---

Going Concern
Blah blah etc. etc,------
"In the event that Stages 2 and 3 are not completed by the end of March 2006, the Directors will take urgent steps to obtain alternative sources of finance or
purchasers of the Streaming Division."
------
What the hell that means in English goodness knows, however in `Tadese`language,it`s spelled out- the old rule applies, when short of money ( and they will be), get a cash call out-GEM there you go- and also the results are not audited yet- what a pile of doo!!
Of course they had to engender a bit of a price rise to be able to even talk to GEM,
that is where the old mm`s are useful-lol!!!

Cheers Bling, shall check the FT on line.

How did you get on with Creo by the way because it was a strange one? I seem to remember it was jumping around bigtime. I watched it for a few days after you mentioned it and I seem to remember there were a few positive days, so you probably did ok.

Tad....spit.....yes, riddled with bullsh!t, confusion, caveats....what it means is...the shaft mate and it boggles my mind that some say what a great deal it is. Been a very interesting time, learnt bundles and met some decent guys out there. Worth every penny and wrote mine off anyway last January after the monstrous Gem debacle. I just hope some of the guys losing heavy get some reward, but I have little faith and see little prospect of that. Bagged a nice lump on HBOS and now only showing losses on Tad and MNT which were always risky. You win some and you lose some. But better than breaking even overall so not all doom and gloom.

Be lucky.

Beau

cant believe this is still going after all these years!

stay with mnt if you can beau......been hearing the odd rumour ( YES i know they abound ).

Cheers super

It's been a rocky ride so hope you are right. Don't actually require too much to hit my avge, so ever hopeful.

Beau

aye beau, creo was alright for a punt, got bored with it after a while.
I am getting bored too much these days, and have decided to go ` self-build`, actively looking for a plot,to downsize, Tetbury way, they are like hens teeth, but share punting has lost its allure, and my sprogs are gone- well nearly, they keep re-appearing
I had a clear out of old crap, to crystalise some CGT losses from the `crash` of 2001,you know the sort of thing Marconi, Telewest,Brit.Energy etc.- you think TAD board are shafters??, my god the things these fat cat twats get away with,

g`luck anyway.

Are they finally worth a punt if they dont do anything else stupid ?