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Well as usual this has really set the market on fire !
No surprise here !
The company should be investigated at the very least. Lie after lie for over a decade
just lies.........
Proposed Placing of the Placing Shares at the Issue Price, raising approximately £2.5 million (before expenses). The Placing will be carried out using the Company's existing shareholder authorities.
The Placing will serve to put the Company in a stronger position for the next stage of its development by providing additional working capital to support the growth and delivery of the recently secured contracts, which require upfront capital investment from the Company, together with ensuring the Company is better able to deliver on its strong pipeline of near-term potential major projects, which it hopes to be successful in winning.
B
So... what happened to the £2.5M placed to start up DRC?.... if DRC hasnt started, then shouldnt that placement money still be sitting in the "DRC account"..... with only £400K left, that money has obviously been spent on xmas parties and the storage costs for the Vending machines and mango masks, plus the museum that houses the Ferry Prop Shaft.... but quite clearly not on DRC as it hasnt started......naughty Fowlers......B
The million dollars question is what will come first???....major contract/s or another placing....
Basically cheap funds raising, or desperate even cheaper one.....:)
Your guess is good as any.....
Remains to be seen with hopes for the best outcome of the 2....
GLA.
Surprised he has not raised any money as 0.4 million is far too low given administration costs and loss. May be Pete thought he can excite market with his "triple digit bs".As things stand share-price is in terminal decline and I dont think Pete has much time .
So..... Pete is suggesting the worst is behind them and they are winning new business.... so if the 2 current MSCs bring in a steady £5M each year, and he wins another £5 - £8M on top, then he gets us back to 2019 numbers..... the thing is we were 4-6p then... now we seem to be 1.3p for the same numbers....... Plus he still thinks next year the other 2 MSCs will kick in.... so why does the market still think the company is still only worth £4M...... must be the Pete effect....... ie, he is a born "story teller"................B
Proceeds from placing £2.5m
Half year admin expenses £2.75m
Aiming... you can have a prize too.......
Pete has managed to give himself another 4 month "can kick".... all his prize contracts from June 2021 are still in the layby..... I do not understand how the Nomad can allow him to announce contract wins that have so many hurdles to jump over still.... Do we know of any other company that announces contract wins that are subject to "formalities" that then go on to never be enacted.... but the company still raises funds for start up costs when the contracts never start up.... this has to be illegal ..... surely......... B
This was mine
H1 revenue £5.5m
Net loss £750k
Cash 150k
Think I was closest:... I said
So let’s start the sweepstake:
H1 revenue: £4m............. spot on !!
Loss of £500k.......... loss was worse @ £800K
Cash : £250k...... cash was slightly better at £400K
I think Jimzi is right..... If they dont get the £3M in from their debtors, then how do they pay their creditors..... only £400K in the tin........going to be another tight year..........
I like that Pete still thinks IRAN might happen.....
I note "Protect Duty" is his next big opportunity..... lets just see how well placed you are Pete....... B
Yes, debtors very strange at £3.7m it represents the total revenue for the half year plus a bit - very poor cash managment or there is an underlying problem - creditors are high as a result and could prick the bubble if they get tetchy.
Most business would collect it and not mention an overdraft - needs explanation
Is the market still asleep?…. No reaction whatsoever….B
Who won the sweepstake:
Revenue:£3.9m
Loss:£800k
Cash:£400k
So… looks like our pig has a wig as well….
DRC…. We hear “we believe” and “expected”…to start in Q4.. no it won’t
Liberia…. Waiting for land allocation… it won’t start this year
KSA… we are winning contracts…. No your not, you won one.
Still expect to hit £13M for the year with £8.5m in.. so where is the other £5 coming from Pete?
How is the £400k going to get you through the rest of the year when you need another £2m to keep the lights on…
No nett profit again….
More crap from Pete… same old same old…..B
Don’t be fooled by the Fooler.
saw that, my glass half empty approach made me wonder what future bad debts were in there, you'd expect these values to be broadly similar to creditors if they were any good at getting cash in.
had to wade through piles of jam and delayed jam to get to cash figure of £400k, quickly followed by mention of overdraft facility which tells me they expect to have to use it imminently, why if the debtors value is healthy ? bad debts ?
SteveDawn…. Transformational
Anyone able to work out Revenue impact of the 20% move on TEMA ?
Same old dribble loss making, poor rev, got be one worse performing shares promised so much but never delivers, hard operate in these countries,
Our other West Africa port project has yet to commence operations as we wait for our client to finalise the land allocation issues with the government, but we remain ready to start once access is granted
Anything on Liberia contract ???
Drc in final stages. Not a bad rns in my view
Here’s the excuse in 6 months
The Board is mindful of the current global situation with serious conflicts in Ukraine and potentially Taiwan, which may present both opportunities and challenges for our business, and the growing economic crisis around the world, which may yet impact our forecasts.
Another loss, same old **** from the BOD and signed off by a toothless nomad.
JL- DRC ratification is EXPECTED in Q4. Big big difference from your lies on a BB, especially given WSG history of non delivery