Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Does not look from this site that any hedge fund is short here , for some time .
https://shorttracker.co.uk/company/
This was my post in Jan 22
https://www.youtube.com/watch?v=SgE_7nex6Yk
32 minutes
interviewer asks what happens if no deal in 6 months
Stamp says ' maybe merge with another company or fundraise at attractive prices '
I was very surprised he made this comment and decided to sell down
That's because even though he said a decision on funding would be needed by July 22, they did nothing and left it far too late and on July 22 the SP was a lot higher.
He made this statement about needing to decide by July 22onn January 22 on a Q&A, where he said they would need a fundraise by July OR merge with another company.
Had they done this earlier it would not have been a panic with massive dilution, but I am betting Stamp and co are well covered financially in all of this.
He had his hands tied - majority shareholders rejected the Bioasis deal which was much much more attractive without the mega dilution - this option was the only option other than insolvency
I am not invested but it is a disgrace what has happened here.
They have racked up 127 million in losses ( using existing shareholder funds ) now these existing shareholders are being massively diluted in a deal that I cannot even understand why they agreed to it.
Legalised theft springs to mind.
If I could make it to the meeting I would actually go to give multiple-shots-on-goal-stamp & Co a piece of my mind
down 20% stateside as well .
The ADRs from Wall street Journal
REAL TIME 9:33 AM EST 03/08/23
$0.4096USD-0.0815-16.60%
Volume
43,670
65 Day Avg Vol
48,705
1 Day Range
0.4902 - 0.5051
52 Week Range
0.4902 - 5.25
Cancellation of admission of Ordinary Shares to trading on AIM 26 April 2023.
Anyone have information if there will be a transfer to ADRs offed ?
Main broker had this as top faller down 20% this morning must be to just draw attention to it .
It had a little lift after 6m private placing to 2.35p .
Dropped back to 1.25p now with a 28% spread .
SHAREINTHIS posted he did buy recently after my question, maybe around the Christmas 2022
Part of 9th Febuary 6m private placing RNS......
"The Private Placement will result in significant dilution to existing equity holders in the Company. Upon issue of the Placing Shares and exercise of Pre-Funded Warrants, existing shareholders would be diluted by 70.5%. Based on the Company's current issued share capital, should all existing warrants, share options, A Warrants, B Warrants, Placement Agent Warrants and Investor Warrants also be exercised at their initial exercise prices, existing shareholders would be diluted by a total of 87.8%."
One of the worst companies on any exchange bar mpl ports.
Glad I sold my holding and got something for them
What a complete and utter joke this company has become. Nothing more than a shell company for others to short or dump losses into. Now the much promised AIM listing has been scuppered. By the time this converts we will be sub 1p
Stamp should hold his head in shame.
Can see this dropping sub 1p intraday before a March / April pump
Looks to me like some of the new 'investors' are selling part of their holding to get some of their money back, with the warrants they got each share quite cheap and so can afford to take it low to offload. I do not intend to buy back , but if I were, I would wait a while.
0.70 on the bid ffs!
This has been massively manipulated by those who organised the no vote on the Bioasis deal - only genuine solid news on their clinical trials would see a rise. Midatech is a shell company for them to offload and short into
Do we have the exact details of the deal now?
I've just started reading the details - not a pleasant or an easy read - certainly finding it difficult to calculate when to buy some more/average down. Maybe not yet? Anyone doing the maths on this? Sorry to ask when I should be doing it myself but one always hopes someone else has put in the hours.
You know I thought similar last night - a punishment for daring to say no!!
I suspect he is still licking his wounds as to why the Bioasis deal fell through - this has been manipulated IMO, somewhat out of his control. Now we have huge dilution with countless warrants hanging over us. Only major news would lift us out of the doldrums. I'm averaging 10p, which once upon a time was not too shabby. Now I need to decide whether to average down more... painful
If you do intend to average down wait until you see the exact deal in relation to what they call ' the price floor adjustment' as this could increase the dilition if as you say MTP has fallen.
I was considering adding myself depending on where this goes , but the deal has angered me so much last night my stomach was bad. Not because I had a lot of money here but because of what they were doing to loyal shareholders.
Stamp said over a year ago they would need a raise if no deal by July 2022 , yet they left it till the last minute for whatever reason?
Hope it all goes well for you!!!
Ron
There should be some recovery from here not sure it will cover you if you have averaged down from on high unless you take a serious number at these low levels.
I emailed Stamp this morning with what I thought about this deal and how it treated the shareholders who had given/supported the 120 million they have had in the past
LTH sadly - screwed at every turn
do you trade this WTF or a long term holder?
some chunky sells pm - mirroring new all time lows in US.
Feel like we will be stuck down the 1p -1.50p range for a while until a miracle happens
I think holders will do OK from these levels but decided to put my 100k holding into POLY this morning as there was a buying opportunity
Something must have shored up the investment… the pipeline needs to start bearing fruit for Midatech. Hopefully that becomes the focus in the short to mid term this year whilst there is a decent cash runway.
Also placing will only last for next 10 months till Dec 23 only…so only short term diluted funding so another placing just round corner.