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end of the day the RTO target doesn't have to be a good one, just good enough to justify a capital raise that pays for setting it up and a little extra for a bit of debt repayment, wages and create enough volume to bump the sp up for some conversions, better to keep the company alive to extract some new cash from shareholders and maybe restructure the debt then it wipe out and take a complete loss on the convertible debt.
look at wdc icon and the never ending conversions, it was rubbish for shareholders but the legacy debt (and a heck of a lot of financing fees) has been repaid with funds extracted from new shareholder funds over time.
Plenty of negatives but while its trading there is still a chance for a little upside.
Its not for me but i still keep an eye on this.
You make a fair point about the CEO but I'd suggest you check out George Lucan who was appointed as a director. He is a finance professional. It also states in the latest RNS that the company are searching for a reverse takeover candidate. It could not be any clearer.
The CEO has failed to execute a single successful project throughout his time here, so I have significant doubts about his ability to find a suitable RTO candidate before the company's ever-dwindling cash pile runs out. Time will tell anyway. One of us will be right!
Dan, the issue is you actually cant always buy shares. This rose significantly yesterday and has spent today consolidating at a higher price. I look at the company and the market cap and know it should be a lot higher. It is much more valuable than its market cap with a main market listing.
There is a book's worth of reasons why one might be negative about this company, but I haven't the inclination to write it (nor I imagine, does anyone else to read it).
I think we're all agreed that this company has nothing to do with wheels or indeed any other kind of project any more. It's now a zombie company running on fumes. They'll either manage to find a RTO candidate before the music stops, or it's game over. If the results are any guide, it's almost out of cash now. It's a punt, as we all acknowledge.
What irritates me is the kind of rampy rubbish which gets thrown around on shares like this, which is clearly designed to fool the gullible. All this 'can't buy a single share' drivel is easily disproven by putting through a dummy trade. You can buy as many as you want - tens upon tens of thousands of shares at any time. There's nothing wrong with saying 'I'm trading this dog share as a punt'; just cut out all the lies.
Dan, why are you so negative about this share? I was burnt here in the past too but I recognise that this company is nothing to do with wheels any more.
I can confirm that shares in this company are extremely difficult to buy. Yesterday they were NT for significant portions of the day. On Wednesday I spent half an hour unsuccessfully trying to buy and couldn't get any for the first 45 minutes reading yesterday. Today is clearly a consolidation day but it's a very positive signal that we are holding at these levels.
Lol, you can buy as many as you like. As always. One thing this company isn’t short of is shares in issue.
Well. Mr London. Maybe buying
Buy a bean