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Plus 28 day
The Board is excited with the potential that the acquisition of Sorted should provide to Location Sciences and will update the Company's shareholders in due course.
Last quarter in time to catch the run up to Christmas and the return after
I will try that again - well time will tell!
We’ll time will tell!
Figures, look like a lot better management
and with regards to sorted we gone from nothing is certain to excited.
They take the assets, which is a good return.
Never Been A Fan Of Giving Loans To Other Companies ….
If It All Goes Pear Shaped ….No Chance Of Recovery Of Cash Usually ….
All sounds like it’s still going to plan with the RTO and expected to return to trading in the last quarter.
I agree, I think it will be this month because the year end audited accounts are critical to the financial plan going forward.
I don’t believe that this wasn’t looked into in significant detail before they committed to the loan, and the board currently haven’t showed any reason to doubt them, apart from taking a long time to find a target acquisition. They likely can make significant savings with the Kamani’s connections/office space etc as it is, undoubtedly they saw an opportunity.
I can’t see an dea being greater than 0.2p anymore as they are asking for Sorted management/investors to invest to align themselves with LSAI holders, that pretty much says to me they want them to invest at 0.2p also, that’s just my take on it, and yes any less and that’ll instantly damage shareholder confidence.
I reckon we’ll hear something this month
I think everything depends on the final accounts.
It’s hard to believe they will have significantly improved in the 12 months since last years. But it’s how big the loss will be when reported.
So, can we turn the business around without going to the market or an injection of funding from elsewhere.
That in my mine will dictate the return to trading SP.
I do hope we see a minimum of .2p if not I will also be pretty peed off.
LSAI had cash of .15p or there abouts prior to suspension, they also have a big tax asset on the book and all concert party are in at 0.2p, all in all I’ll be pretty peed off if the deal isn’t done at that same price .2p. Personally I just don’t see it, I can’t see Kamani and Co doing a deal for lower than where they bought in with a significant lump
Interesting read and suggesting that the potential deal could be finalised by September.
I suppose the final accounts will be critical to what the proposed deal will look like for both parties.
This is the article
https://businesscloud.co.uk/news/what-happened-at-techs-poster-boy-sorted/
September was mentioned in an article possibly the one that also mentioned Wilkinson could not say to much,
We are now in September,
the 30th is the deadline for sorted accounts
We should see some action in this month hopefully
I’m surprised we haven’t heard something by now for that very reason.
I don’t see how the process can be agreed and signed off in anything less than a month once we have the details published.
And in all that time Sorted are burning cash.
It seems as though Sorteds management team will have to agree any deal that keeps the company solvent, and that becomes more critical the longer the process takes.
Varies massively some can be done in weeks 6-8 weeks others can take many months. I would expect to hear something relatively soon regarding this RTO just because of the cash burn at Sorted, it’s not something that can drag for months
9 weeks since suspension.
Does anyone know how long on average an RTO can take?
Sorry accounts are already overdue it's penalties after 30/09/2023
Overdue Confirmation statement made on 25 Ausg 2023 full 2022 accounts may follow with news will be overdue afted 30 sep 2023
Hughes and Kamani Saw that with blisgate that why it still there and David Rae as
advisor,
It’s got to be marketed from a power position.
All in the future. Hughes said they were going to buy struggling tech companies.
I have not given up on Verify I truly believe there is a market for it, I would use it in my campaigns, I been paying for ads to appear in my excluded areas for years very frustrating and impossible to stop, I started investing in 2017.
I know, with all that gone on and this is a different and the right direction (I hope)and verify is on the back burner waiting for the right time, it’s still there.
Blimey Rob how many you holding if your talking retirement fund haha!!!
I would be happy to get enough to retire