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All I'm getting is buy at market best offer
And do you think the drop from 35 is sustainable? This is just the beginning of the climb back and beyond. SL
everyone deserves to take profit.. thats their agenda , however does that mean you are not a holder?
'Bailed' at 0.18 because there was a 30-40% gift that wasn't sustainable (imo). But it really isn't a brag as i doubt many folk made a profit on that trade.
Need to see some news now as proof of positive future.
I see the wallies or out in force this morning , face it the shorters who wanted doomsday .8’s Have now lost 30/40% , and if it pushes up expect them to bail
Or flip and go long ... if you look at the price action 2 bailed 18m lots at .18 and another 2m at .16.... why do you keep reposting the old crap - it’s a new thing now . Get with it and accept it !
No news to counter this morning, but still up bashing this stock.. either way, it’s all academic as the media and marketing wheels have started to turn. If BIDS can climb to where it did on the predicted revenue, then this one may start doing handstands on what is in the pipeline. Let’s get the news out this week and move on from the legacy issue anchors
Silverlight - completely agree with you regarding banning short selling.
Icon's SP hasn't dropped because of shorting though, its dropped due to the opaque financing arrangement (still no clearer after the Q&A RNS) and incestuous deals with their mates...
Yep Bestmate that’s just what they do. A shorting ban should become reality in the UK, they would all disappear then. SL
Totally agree Silverlight, the news flow is about to begin and the doomongers and shorters will up there game. At the end of the day, it’s been a struggle the last few months but this company should be given the chance to turn the corner, regardless of what DS manages elsewhere.
If we move up again today and this week, the naysayers will still talk this down.
Reso - 25 posts in the last 30 days trolling ICON and now things are on the up getting desperate and quoting Share Prophets hahaha hmmm wonder who has an agenda hey.. all going good from here true lths, so much to come and it starts this week. 40-50 before the month is out as a base. SL
Lse management, please block and investigate these posts posts, they are spreading false truths. Bet you don’t as usual and allow this stuff to be continually posted. SL
Reso, anyone who shares posts from Newman needs their head read. He’s a blatant shorter who is out to line his own pockets and had me and anyone who questions him blocked. Most people think Share prophets are basically criminals, and your sharing their tripe, your obviously in the same gang, shame on you. SL
Why Reso… we didn't know you cared that much... Things in Slooooooovenia must be extremely boring, for you to be so concerned for us all. Thanks... but your arguments are irrelevant. The proof will be in the progress, or lack of. Let's wait and see. I suspect a different outcome.
… I suspect that it will get rinsed by EHGO, and the £1.375 million debt is repayable after 12 months, along with a 5% interest rate, so where on earth is that money going to come from? Unless that debt also gets converted into shares and the death spiral financing continues.
If you do try to have a trade here, just make sure you aren’t the one who ends up holding when it does come tumbling down.
… Currently the nominal value of the shares is 0.25p and the shares are trading at 0.15p, so things don’t exactly look great for the company unless it can turn that around quickly, as the warrants are exercisable as soon as they are issued, with a five year term.
It also had to issue nearly 238 million shares to EHGO in settlement of previous debts, so that has given it an awful lot of firepower to sell and to keep the share price low – which is in its interests to do so whilst the finance is being drawndown over the coming months, as it will ensure that it receives a larger number of warrants (the amount issued is also based upon the VWAP over a five day period) and a guaranteed minimum exercise price of 0.25p (with Iconic being responsible for the difference, in money terms, for anything below that).
So, taking all of this into account, the company is basically in a death spiral financing agreement, for an amount which may only settle all of its existing debts and leaving very little working capital, and with potentially huge amounts of shares to flood onto the market over the coming months.
Based on all of this you have to wonder why on earth Social Alchemist would choose to sell to a company like this. If it really was a strong private company with such exciting prospects, it would easily be obtaining funding from angel investors/venture capitalists, or at the very least would sell to a listed company that had the funding available to accelerate growth – if it is as good as it sounds then they should have been queuing up for a piece of it. You certainly wouldn’t sell to a company that was in trouble, had little in the way of working capital, and little prospect of raising further capital. Don’t forget that Iconic can’t raise capital at below the nominal share value of 0.25p, which is around 65% above the current share price level. I suspect that the accounts of Social Alchemy are far less impressive than has been hinted at in the RNS – it could have a tiny revenue and profit, and still fit the description of it in that release.
As if all of that wasn’t enough of a concern, the executive chairman of the company is David Sefton, who doesn’t exactly have the best track record to say the least.
On top of that the company has been heavily pumped across social media, including by those who have a track record of being involved in causing brief spikes on micro cap companies before disappearing when the share price subsequently crashes. Often this is accompanied by rumours, or even fake articles sometimes, and in this case the story doing the rounds is of a £3 million deal with Sega!
The market cap here is only £2 million so I suspect it will continue to be prone to wild share price swings, and some will benefit from trading that, but as an actual investment I can’t see any reason to buy it, with large amounts of further dilution due and the company in a position where it is unable to raise any further funds via an equity issue currentl
… From Gary Newman at SP...
It never ceases to amaze me how willing many private investors are to forget past failures and accept that a complete change of direction in a business is suddenly going to bring success.
WideCells (WDC) failed as a stemcell research business, so it has now reinvented itself as a media and technology business, having changed its name to Iconic Labs (ICON), and many are immediately assuming that the new company will be a big success.
A lot of the excitement seems to revolve around the previous involvement of Iconic CEO John Quinlan, and chief business officer Liam Harrington, in social publisher Unilad. What seems to be mentioned less often is that Unilad went into administration last September before a deal was finally done with LadBible to save the business, although it would be downsized, as LadBible owned a significant chunk of its debt.
Around the same time as all this was going on, former LadBible creative lead Jono Yates, now working for Dugout, incorporated a company in the UK called Social Alchemist Ltd.
Iconic (or WideCells as it was still known then) set up a media and technology division back in March, at the time Quinlan and Harrington joined the board.
On August 6 an RNS landed stating that Iconic had signed a heads of terms agreement to purchase Social Alchemist using a mixture of cash and shares. What is strange though is that both parties are refusing to disclose the actual amount of the consideration being paid, and given that Iconic is a PLC I don’t really see how this information can be kept from shareholders.
The RNS stated that Social Alchemist is ‘revenue generative, cash flow positive and profitable’ but no further indication is given as to exactly what extent – especially when it suddenly becomes part of Iconic, and with all of the corporate overheads that it has, I suspect it will be far from profitable at its current level – and it will be some time before we see the Social Alchemist accounts for the period in question.
In early August the company also announced that it had secured up to £1.375 million, gross, of financing from the European High Growth Opportunities Securitization Fund over a six month period. The company has stated that it hopes that this financing will settle its outstanding debts – although there seems to be some confusion as to exactly what is still owed as it is still in dispute with creditors to the tune of £400,000, and if it loses then it would also be liable for that, although it has made a contingency for that.
Looking at the way in which the funds are drawable over the six month period, and the fact that warrants are attached to them at a 10% discount to the volume weighted average price over the five days prior to exercise, or at the nominal value of the shares if that is higher. If they are exercised at nominal value then a fee is payable by Iconic equal to the difference in price.