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"There was never any chance of an alternative deal, not least because AIM time limits required an immediate delisting after the RTO ."
AMENDMENT:
AIM time limits required an immediate delisting after the RTO was aborted.
hedgehog nice to see an informed view instead of the delusional posts on here -fancy cutting off your nose to spite your face and losing a sliver of hope .
the tax losses wont be availble as all the companies have ceased to trade and for other reasons as you suggest . i said this ages ago and predicted the rto would happen but investors would not get much out of it . so did bobby f .we were abused but right. i cant believe the irrationality of the no vote. anyway back to my portfolio......
"We also need to figure out how we can sell or benefit from the US tax relief."
Robbertwo,
Not sure of the US rules, but in Britain the rules for quite a while have been tightened up.
My understanding is that tax losses can only be 'reused' if the existing board is the same, and the new business is the same type of business as the previous business.
And for small biotechs, profits are usually uncertain, and some way off if achieved at all.
Which means that any value from tax losses, even if allowed, is uncertain and some way off, so would have to be discounted massively.
This is why generally little or no value seems to be attributed to a shell's tax losses for a RTO.
Similarly, 'failed technology' such as a failed drug seems to sell for relatively negligible value compared to the amounts invested into it.
MTFB's main value was its listing which has now been lost.
In contrast MTFB's liabilities will have mounted up considerably.
Accrued deferred payments to directors, and aborted RTO costs, with no money now coming in from the RTO placing.
No listing means that there is little or no attraction for a RTO candidate, and in any case a RTO requires a lot of time and money to arrange.
In summary, administration looks like the overwhelmingly likely outcome here, and always did if the RTO was voted down.
There was never any chance of an alternative deal, not least because AIM time limits required an immediate delisting after the RTO .
Just emailed. Am in for 825k (av price 5p unfortunately!).
Thanks very much for trying to organise sthg Hasiba.
Everybody let's stick together and see what can be done!
GL
One question that needs answering quickly and before the BOD can shaft us harder.
How much cash is left.
We need to ensure there is enough cash to keep the lights on whilst Orange Avenue can send some money our way.
We also need to figure out how we can sell or benefit from the US tax relief.
Maybe we can do some sort of merger with a private company that wants to expand into the US and also could help Orange Avenue.
Not much I can add or say. The RTO and any chance of us listing on an exchange is now gone. I spoke to a number of people today which I will not name on a public forum but we need to draw a line through that now.
What we can do going forward is understand the assets and what is happening with Orange Avenue. I am pretty certain there is more to that story than meets the eye.
I have sent my holdings to the email address.
It sounds like the action group has enough shareholders once validated to send a request for a general meeting with resolutions to the company.
We really need to set up a call / video call with investors beforehand to decide resolutions.
I would advise we try and appointment somebody on our side to be on the board and understand what is going on.
We now need to preserve cash otherwise the directors CAN force this into administration.
Hope Rooblertwo has the decency to come back and give an explanation to his fellow shareholders why he quit just as everyone was starting to get a Share Holder Action Group together.
Email sent 1,053,889
So far 16 shareholders sent emails.
Waiting for more…to join
motifgroup@outlook.com
I received all emails and we need more ,so please keep sending them..
motifgroup@outlook.com
I will give it more time to build up then email you all to discuss and agree what everyone thinks best…
rooblertwo:
You should show a bit of respect towards your fellow investors,
Can I please ask Think before you write messages in this board that will minimise all the confusion you creating,
Thank you
Yeah see you around,
Rooblertwo, what further info ?
Sorry but after some further info. I'm going to close the telegram group and not look to do any form of general meeting.
GLA
See you around.