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Retireby40, I think your incorrect about the RNS. Each drawdown requires an additional issue of new warrants at a price to be determined by the (average) VWAP share price for the previous 5 days' trading. DVRG would need to notify the market of the number of warrants issued and the reference price.
Short, we will have to wait and see but the potentially £5.7m in the bank come the end of the year should provide enough of a buffer to prevent any further shares being issued. Once we are profitable then there is a good chance we will be able to arrange more suitable financing to fuel our further growth. A lot is hinging on how we navigate the stormy recession seas. Dvrg appear diverse enough both product wise and geographically to hopefully come out on top. We'll see.
"my be" Hello Kazim
https://twitter.com/johndavid1958/status/1559453261651910656?s=20&t=Mt5QmAh2bPOx5KfuzY4X-A
Thank you for the reply . You have thou the business being split now MW and STC . It’s going to be interesting how the results are going to be shown Audited . The last RNS was saying my be Corporate action . USA companies interested in a stake in STC that’s good . Burning plenty money plus you got a very high head count . They need paying each month so to me overheads are well up . 18+ million i would say DVRG will make a profit . So as you say 22 could be in profit . But CB has a habit of delay after delay . Which if happens then we will be in a loss again . Been hiring people nearly every month . That in turn puts wage bill up .
Chesh, we RNS’d the details of the facility and what the initial drawdown was. I don’t believe we need to RNS any subsequent drawdowns. Maybe GB can clarify. He reads the board and I suspect silence means I am right.
I hope I am wrong and look like a ‘fool’.
Short,
We started the year with £1.8m and took £4m from the mezzanine loan. So £5.8m to play with.
I believe the business will be self funding in the FY22 accounts.
Assuming the £19m generates £11m gross deduct about £9m for admin expenses (exc D&A as non cash) and £0.6m in finance charges then we have £1.4m net cash generated within the year.
So that's £7.2m but we paid for Glanaco £0.5m. We'll also have to pay back £1m of the £4m this year so we end the year on £5.7m. We will need to pay back the other £3m of the loan by March 23 so that leaves us with £2.7m and hopefully we'll be self funding on a monthly basis by H1 2023.
This is obviously all dependant on how we can manage the working capital. Trade receivables increased massively in FY21 from £1m to £4.7m. You'd expect that as revenue grows but it's important the credit control team don't let that number become too big as a % of revenue. FY20 was 22% to FY21 52%. So with the right working capital management Dvrg may not need to dip into the mezzanine again and therefore save about £600k in finance charges.
It's looking good. Let's see what H2 has to offer.
Come on RB40.........!
you need to verify your 14:57.........!
one of us x2 is gonna look a fool..........?
All the best (I doubt it'll be me.........! :()
14:57...........!
"No RNS is needed if more money is drawn down. Remember we had this facility before (not for so much) and used it and didn’t issue and RNS."
You state the previous equivalent didn't require an RNS...........!
All the best (and yep, it did, and they didn't...........! :()
As what didn’t happen?!
I didn’t say we wouldn’t pay the initial drawdown back. I simply pointed out we will not get an RNS every time money is draw down. If that is inaccurate I’m sure GB would say so as it’s not material.
Interesting RB40........!
although I doubt that you can verify your thinking, as it didn't happen........! :)
Yep, you will get an RNS when the 20p warrants are exercised, like you got an RNS when they were issued.......! dya wanna date.........?
If........! massive IF, the loan is not paid, then yep shares are issued, but they are not the warrants in discussion ATM........ and what makes you fink the loan won't be repaid......?
All the best (RNS me ..........! :()
triple digit % YoY growth.........!
I am sure. If we do not pay the balance back within the year they may wish to convert which would trigger an RNS. Simply drawing down funds does not warrant an RNS.
If they decide to exercise the warrants (at 20p) we will also get an RNS.
*You sure RB40...........?
just the issue of warrants at a 40% premium, warrants an RNS..........!
All the best (if not, the draw down it's self must..........! :()
that's better...........
You sure RB40...........?
just the issue of 40% warrants at a premium, warrants an RNS..........!
All the best (if not, the draw down it's self must..........! :()
LOL best paragraph he's written since he was 16. Five years ago.
No RNS is needed if more money is drawn down. Remember we had this facility before (not for so much) and used it and didn’t issue and RNS.
Your name more than confirms your motive. Scaremongering won't dissuade informed shareholders who do their research. Time for you to move on.
No probs mate.........!
PR is everything still ATM IMO, and the Gold Standard label at the next on, on the 1st of Sept BTW, is very important..........!
There will come a time when this sells itself......! until then, the work put in by the team @DVRG will carry on...........! :)
All the best (triple digit growth YoY don't forget..........! :()
Thank you for info . It’s a disaster at moment just conference after conference it costs money for all this . As well
Shorteverything.........! not a fan of borrow to grow than I presume......!
https://polaris.brighterir.com/public/deepverge_plc/news/rns/story/xqopoqr
Just the one draw down to date from a £25m (BTW) mezzanine loan facility..........! :)
the use of the £4m is listed in the RNS linked .........! :)
All the best (ya welcome.............! :()
You have to ask now after all this time . What’s future here for DVRG holders . You have NO volume you have Knowbody interested in buying stock . Pis or iis . You have a rock bottom price . DVRG has missed all its promises to investors. All you can see is borrowed money 10 million gone . Has facilities for 24 million loan as well . How much they have spent of that we don’t know . Not hit any revenue targets always falls short . Tweets every day really disappointed now. It’s a Shame as Tech is great but can not get the orders needed to survive looks like . Got loan start pay back OCTOBER. If missed I guess the loan company will know and short this to nothing . Very very dangerous times with you investment . There is constant selling looks like no faith now in Company PROMISED LOADS BUT FELL WELL SHORT .