As I first stated in the other thread on what this announcement...

As I first stated in the other thread on what this announcement could include looks as if they have just dumped their own subscription streaming business and left with just PPV and DVD.

Langsfords own comments in news articles over night state exactly this..

" Langford said, but he said Quickflix would be getting out of licensing for non-pay-per-view content."

"Speaking from LA, Langsford today dismissed this the reports as "nonsense."

Nice for some to be on holiday no doubt paid for to the penny by funds borrowed from investors just like every single dollar of salary and bonus he ever drawn.

"The deal between Quickflix and Foxtel subject to a number of conditions in relation to due diligence and funding arrangements and is yet to be fully finalised."

Oh Dear.... Why anyone other than armature penny dreadful day traders would buy on this ann staggers belief  without knowing the full details.  Announcement reads more like a MOU with conditions attached, (wonder if Langsford desperate for some news jumped the gun in the release, certainly looks that way).

Plus as others have mentioned Stan no doubt will be talking to their legal team to see if QFX are in breach of pref shares conditions.

Also in the announcement like how Langsford tries to spin it as if he had a queue of other parties outside his office with offers and it's just taken time to go through them all and select the best one. Reality is he just dumped their own subscription streaming business due to lack of funds to the only and lowest bidder/deal to try and limp along with DVD post which has always been a loser and PPV which will be competing against NFLX all you can watch flat rate subscription at under $10

Also Langsford will likely be hoping for a SP pump before another CR attempt, this morning it failed miserably with just 290k traded.

AS Stweeve said good to see some life back in the threads and names back, though unfortunate to see some repeating exactly the same mistakes of old.

Why the rule: Never buy on news announcements - especially when comes to penny dreadful stocks  isn't in everyone's trading plan is difficult to fathom,  in doing so just results in reckless gambling rather than making sound investment decisions with a planned entry and exit.


Kat.