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 ?

ravey
Not until all this is sorted out.
I am inclined to think shareholders should hold out for 40% of streaming rather than go with this deal, after all until SW got involved ETI WAS making good progress.

lol gravy- the only punt this lot are worth is one which is cast off into the River Cam, without a pole and then sunk with all the board on- board.
And the biggest lol of all yuffer STILL thinks its a going concern,and will be " sorted out" some people never listen.

1 No EGM
2.No sackings of any board member
3.A further share dilution inevitable
4.Stig laughing all the way to the bank
5.A NED with half a dozen salaries.

and what do the Cardies do, start another Q&A session for their delictation- oh and on aye-aye-aye, they still are demanding that the board be sacked, what a bunch of nanas

I see the Chief Cardie boasting that there may be $10m dollars after the latest sell out -IF - it ever arrives, there is however a major problem, they are burning cash at the rate of $14m a year, the $10m equates to about <2p share roughly, and THAT is what keeps the price from dropping to zero.
As the cash burns so does the share price- there goes another dollop today-DOWN
4%.
What a bunch.

Hi No1 and Yuff.

Surely the management will not squander another chance to get this awful
company into profit.

Ok i will set 2.75p offer as a buying in price if i get lucky.