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I really do hope it gets some slack. I agree PPE and scrubs would be great.
50yr company hanging on by a thread.
prime.
Seeing all these people making scrubs for nhs. Surely Bagir could get funding from government to do this???!!
With their big manufacturing bases why not turn their hand to ppe.
Must be able to make face masks in huge volume ?
If the court passes favourable judgement it would buy them one huge month thru to late May, which gives them a chance to figure something out to avoid receivership. Especially if US and starting to unwind lockdown in late April and UK early May, then then I'd guess they have half of chance of finding emergency funding from somewhere sometime in May to tide them over thru June and into July and that then hopefully allows them survive.
If the court ruling goes against them then its very likely insolvency (which shareholders may well get very little OR nothing out of)
You would think that the court will pass favourable judgement in respect of the current climate.
Let's see if they want to be mean abut this!!!
out
Yup not good plus lockdown will be extended. No orders no money and no money for materials. This is gone. Buying gold stocks myself now. Hope everyone gets there loses back elsewhere
I don't think they have any intention of exploring other avenues of assistance. They knew damn well that the new investor wanted this private hence this BS about going bust.
there was a system problem and all share prices showed trades as 13 Feb, since been solved but guess this will stay showing this until suspension lifted.
You're not the only one - i bought in here on the Ruyi deal - av something like 2.2p.
Even topped up on the dips.. since then this has been one big dip... game over :(
Why is it showing buys only till 13 February?...
The rns were good. Great revenue. This was going somewhere for once. Then the deal fell through. Crashed from 3p to .050 now admin basically. these directors and boards are crap at there jobs. And they get shed loads of money. Skilled men in there fields. Laugh out loud.
As I mentioned the other day, this might not be curtains for Bagir.
DYOR
Thanks Obone.
P.
I emailed and received this reply.
"The Board is exploring all options and will update all investors in due course through an RNS announcement."
Does n't enlighten but atleast they replied.
Yep. Director’s have taken the ****, and SH get screwed over. It’s fairly common in AIM but I thought it would be different in a company thats been around for 50 years.
Hopefully we walk away with some of our money
Only if I had deep pockets as I would possibly sue the directors.....they're probably sitting at home , smug with the fact that they're counting the queen's heads!!!!
Same in many stocks especially ones operated abroad.most go private or bust
They put no efforts to RAMP the share up (like most other AIM dogs), they could of done a placing then, but NO they just kept milking it.
I feel for all the employees and hard working staff.
As for the dollar , I can make it back, but many can't in this C19 crisis.
Prime.
Thanks for that GW.
It's shocking the directors have milked the cow , it's criminal.
So dumb they milked it so much to nil and I hope they all go down with the ship.
Prime.
H1 Trading Highlights
? Steady trading period reflected in a 32% increase in revenues to $32.8m (H1 2018 $24.8m) driven by increased sale orders from existing customers and sales to 19 September 2019 were $46.0m with an order backlog of $20.1m
? Improvement in adjusted EBITDA* to $1.0m (H1 2018: loss of $1.7m) and gross margin of 11.9% (2018: H1 6.7%)
? General and administrative expenses decreased to $1.1m in H1 2019 (H1 2018: $1.5m)
? Reduced loss before tax of $1.05m (H1 2018: loss before tax of $3.6m)
? Cash and cash equivalents of $1.6m as at 30 June 2019
? On 19 June 2019, a new unconditional completion date, of 31 March 2020, was announced for Shandong Ruyi to make the remaining cash payment of $13.2m and complete the proposed transaction
? Appointment of Micha Ronen as CEO, well known to the business having previously held the roles of CFO and Deputy CEO of the Group
? Operational focus on providing innovative products to major apparel clients in the US and the UK alongside expanding the Group’s uniform division
1.6 mill in the bank 9 months ago- you would think they must have some in the bank.....
All they have to do is shut down all operations incl suspending salaries (I wouldn't even furlough them) to the greedy directors. Resume trading once this blows over.
Lucky you! I invested very heavily here and twice was in 30% profit but thought this had much more potential. I wonder what the bank balance is and the current burn rate.
Generally at this point shareholders get screwed over. Just glad I’ve only got a sensible amount in here!
Yes GW it baffles me also - over 3 million dollar cash injection and they just squandered it - probably in over inflated salaries.
I’ve accepted my investment here is Zero now unless some miracle funding comes through.
Prime