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Hi - I am not a shorter. I was a big long, now I’m a much smaller long, I resent selling my remaining position here and would now rather see some kind of shareholder action. I hear people talking about shorters. I think it’s very hard to do any meaningful short selling in a micro cap stock like this, where there is no liquid market in borrowable shares to short sell. You can sell a few on CFDs but it would likely be quite small fry. I’d be surprised if short-selling was the issue with the share price. More likely there’s just a big unwind of old buyers like me and those who participated in one of the earlier new issues (guilty) who have woken up and smelt the coffee or done more research. That and a total lack of any positive momentum in the business or price. I am posting here to exchange points of view for Infa and registered on LSE to do so. I may well be wrong in my assessment. In some ways I hope I am. I’m always listening to other viewpoints. Final point: I see a lot of people questioning motives of posts on here. Maybe that’s what some people do, but I think they’re wasting their time: in my experience these message boards have a much more limited influence on the share price than people realise. When someone posts a genuinely new piece of material information here (rare) that is picked up by large investors then maybe it could move the dial. But punters like me screaming “this is rubbish / brilliant” is just noise.
If a Killick decides to sell a few million shares it will move things, but message boards won’t hardly ever feature in their decision making. If I thought my posts could change the SP, then I’d start talking bullish as I have several grand at stake!
That is BC,(Before Consolidation), todays price would have been .18p. And I was derided when I posted that it would never reach .53p again. I didn't mind the derision. I had just lost all faith in the BOD. Never agreed with the HW buyout. I felt they ought to have stuck to the storage project. Sad to see what's happening. From the beginning of the HW era INFA was always dependent on a government handout. That all probably changed when the government ceased to need Unionist Party support.Double sad to see!
"He definitely wasn't here for the shipbuilding."
How could he have been, as he left seven months before H&W came into the picture.
The second installment for the Appledore acquisition is due next month.
This could put the share price under further pressure assuming the vendors sell the £300,000 worth of shares that will be issued to them
'Tranche 2 on the first anniversary of Completion of £1.50million:
A total of £1.50million consisting of cash of £1.20million and Ordinary Shares in the Company equivalent to £300,000'
" I am still convinced the ML is a done deal "
maybe it is and the SP is reacting to what the implications of that are...in relation to the "pool of investors"
" Subject to the outcome of the determination of the marine licence , we will seek to engage more actively with our identified pool of investors with a view to agreeing project level investment and equity terms with them and proceeding to Final Investment Decision ("FID") in the next few months. " RNS - 19th Apr 2021
So...to finance part/all/first stage of the project are they preparing to issue Equity to the "pool of investors " ??? ...
Iamsailing
Given the various works and projects on the go and working capital needs ...I doubt it is possible to know "exactly" whether they will paying more working cash out than getting in.by that year end date ...but...in the great scheme of things...I dont actually think that matters .... simply because ...a lot of the work being done is necessary ... and ..in many ways..the sooner it gets done...the better in terms of being able to attract client work
I dont think it is actually something to get too bogged down in.... the bottom line is a loss...but .. you have to assess whether that use of funds has been good for the mid-term benefits of the company and its on going objectives ....
Few companies can expect to be getting good strong revenues before they have built up the infrastructure etc necessary .... it always tends to be a slow start on revenue ..until what you have to offer is more fully in place ..which of course takes time and money...
Poker - absolutely right, I misquoted and should not have relied on my memory of why I originally though it was a weak statement. But now I see the actual phrase again, I remember why I was so suspicious: the words are very selective. ‘Annualised’ means they could be breakeven (in cash terms only) for a very short period, perhaps a month and maybe even less and still claim the target was hit. Given the lumpiness of the cash outgoings and incomings that should be easy to fix and wouldn’t necessarily mean anything positive in terms of financial health. It sounds to me like a slippery target from a slippery and desperate management.
Added some more at 18.25 I think we are pretty much looking at the bottom of what has been a fairly severe but justified drop owing to the lack of material progress to date which has been taken full advantage of by shorters.
The ML delays always smelt wrong.in fact I am still convinced the ML is a done deal..I wonder if all this has been set up for the gas caverns for someone else to step in and equally someone to step in for the shipbuilding assets .The sp is being walked down and I wouldn't be shocked if killik are behind who is to take on the gas storage project.This is why I think our previous chairman Mr Lyons was in place to set up the gas storage project sale.He definitely wasn't here for the shipbuilding..Any thoughts on who will be a good fit for the shipbuilding operation and related assets.
" The management saying they ‘expect’ break-even on an ‘ongoing basis’ by year end is empty guff."
Iamsailing
They have actually said : " annualised cash break-even position by the end of the current calendar year"
cash break-even is not, of course meant to mean "bottom line break-even" ..a totally different scenario which they have not alluded to
It is important not to misinterpret what they have actually suggested ....
Looks like it is becoming popular
https://www.reuters.com/business/sustainable-business/sse-equinor-plan-store-hydrogen-uk-gas-storage-site-2021-07-15/
BlairPeach In relation to your 12.48 post I would remind you of the terms of the February 2020 Asset Based Loan Facility as they do not seem to me to suggest that Harland & Wolff are over burdened with debt. I believe that this is what you were trying to imply by the use of the words ' Belfast is hocked.' The terms taken from the RNS are 'Under the terms of the Facility, Harland will drawdown the sum of £2 million immediately and the proceeds will be utilised for working capital purposes. The Facility is for a term of 24 months with the principal amount repayable as a bullet payment at the end of 24 months from the date of first drawdown. The Facility carries a coupon of 13.2% per annum, payable in equal monthly instalments in arrears. The Lender of the Facility has a first charge over all the assets of Harland. At the end of the 24-month tenure of the Facility, there will be an exit fee of 4% payable to the lender. Belfast-based Whiterock Capital Partners LLP advised Harland on the structuring of this Facility.'
You will recall that the assets of Harland & Wolff (Belfast) were revalued after the purchase to circa £6m. In other words three times the amount of the loan facility.
Nobby31,
"I’d happily take 40p right now from someone that can fund the company and get the yards operational".
I cannot imagine anyone would take these yards, even if they were free. They will never turn a profit today. Remember Belfast is hocked, too...
Shane not to add another 10k gla..
TheEast,
There has been radio silence because, every time JW posts something on social media, it gets called out for the obvious BS that it is, usually on here!
Prior to the last placing, I posted in April that the next raise would be the last; as stated by Iamsailing, INFA has simply run out of road. An immediate granting of the marine licence and some very canny funding negotiations are our only hope; having seen first-hand the state of H&W Belfast, I am more incensed than ever at the Turkey Twunt's trousering.
Clearly alot has happened here since I decided I got fed up with the gas storage project and endless capital raises. How did the board decide to buy into ship building/repairs etc?
For listed companies in general, exactly how many years( decades in some cases) of capital raise is considered normal before anyone asks, what about making money in the businesses rather than making it by continued placings etc?
They gonna bg clipboards soon IMHO
Let's hope John and Arun aren't spotted walking around Inchgreen, clip-boards in hand. ;)
Poker, problem is the corner Infa have painted themselves into. They have bought serially-failing and highly capital intensive businesses. Revenue does not equal profit, and as we have seen recently it more likely means loss. I dread them winning more scraps of shipbuilding business which will require them to raise more capital and incur losses until such time as they reach serious scale (imo never). The management saying they ‘expect’ breakeven on an ‘ongoing basis’ by year end is empty guff. The company looks screw&d. I think there’s a battle looming where Wood and co will extract as much cash as they can for themselves, probably award themselves a lot of options at the new price (ie reward themselves for the SP fall), and quite possibly take the business private for themselves and others (not you and me) taking the valuable assets such as ML and a few bits of yard land at knock-down prices, and trash-canning the rest. If this happens, there will have to be an attempt at some shareholder action but AIM is somewhat rigged in favour of the company execs.
Ha!!
Morning All,
Hopefully not as much as a car crash here today.
Note that JW hasn't posted anything on LinkedIn for a week, nor has H&W and I Fa's account now 2 weeks. Radio silence whilst the SP is obliterated isn't good enough.
BOD need to show their worth pronto or time for a major shake up. If we needed to do a raise now (one possibility for the SP), at these levels it'd be terrible, especially on the back of the current SP against the last placing. It would need to be under 10p to get enough interest!!!
Let's see if killik keep increasing.
Last one out, turn out the lights.
Personally i would wzit until the close of 2021 to see if the £30m revenue target and the cash flow break even is met...alongside seeing what of the pipeline " in advanced discussions" comes through..
A small % of the company shares are traded each day and today a lot of AIM was hit ....the market has to remain liquid so a low price is offered to sellers in order to bring them buyer...on a day when buyers dont have to chase the price....
July and August may not see much devision making and volumes may drop..causing volatility....
Some will have sold and be ready to come back in September.....
I sold my small holding for 22p at a loss...bad timing...but will keep in tune with when to relook in....
There is a lot of potential but all these contracts take time ...and the market plays to find its own gains in the meantime
...
So when companies like BP are around 300p, Vodafone are 117p, why would you stick any more into JW's pocket?
The money i put into this company was a punt, and whilst i'm about 55% down, i'll leave the money here, on the premise that Poots isn't stupid enough to let INFA go out of business by failing to allow them to build some caverns that no one will see, and allowing some salt to be pumped into the sea. (really is a special kind of NIMBY over there in NI)
That youtube video below showed the ignorance and stupidity of the NI politicians who are of the breed that are 100% taken in by the global warming scam and were seemingly against this project. This ilk are almost stupid enough to believe they can keep the standard of living they believe they deserve by harnessing the wind that unicorns make when flapping their wings.
Pity i stuck several grand into INFA and into Northern Ireland as i'd have had more to put in Gazprom and Russia, such is my faith in an imminent change to "green energy".