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MMGames... "SOU were in 23 interested party discussions before"
Remember who told us that...
MMGames... "SOU were in 23 interested party discussions before"
Remember who told us that...
Biggest failure was having that big eared spanker JP at the helm, shaffted a lot of people with his BS....hopefully the new team can get this back on track and as you say restore some faith in the company which should encourage a healthier share price... #jpthespanker
If Sound have no immediate or even medium term financial issues what are their concerns with having independant auditors checking and confirming those accounts? If anything it would help restore some confidence in the company and may, heaven forbid, actually cause a small increase in the share price.
As you have said the $7.3 M is unaudited, with the board having been very reluctant to answer questions on this subject.
There has been failure after failure after failure, the BoD need to do something to restore confidence in Sound to be able to deliver on the plan, relying on hopes and dreams and ignoring cold hard facts is not the way to run a business.
The question is if James & Brian have been denied their Ludacris bonus pay offs do we now have more cash to see us through a bit further.
As I'm sure Sound still read this board I will make this clear.
DO NOT EVEN ATTEMPT TO BLAME THE VIRUS FOR THE DEMISE OF THIS COMPANY. THE BOARD, PAST & PRESENT ARE SOLELY RESPONSIBLE.
As of 31st january they have $7.3 M in unaudited cash balance which should take them through to second quarter of 2020. Hopefully covid-19 will be over by end of June. They still have income from LNG I think? Am I right they have some income to pay bills, staff wages. A fund raise might be needed if covid-19 doesn't halt by end of June. But maybe hot weather in USA,Italy,Spain will kill the virus - hoping for 40 deg C . Dean Kootz predicted virus in 1981, he said it will go soon although huge deaths will continue until then.
MMgames
No problem at all with your comments, this is a discussion board afterall, the main concern that I have is that we have no idea at all as to the financial well being of the company, and how much longer they will remain in business for without a fund raise.
With the share price as it currently stands how are they going to raise any significant funds to get them through until August?
Especailly as further dealys cannot be ruled out.
With RDSB, it is a very well known company, a diverse range of assets and income streams and a decent dividened, it fell from over £20 ps to not much more than £9 ps, it managed to regain some of those losses and rallied back up to almost £15 ps.
PRD has never even reached 12pps, it's long term average is about 6pps, they have plenty of potential and CO2EOR going on over in TnT, and SDX has of course proven resources, these companies have at least regained some of those losses over the past few weeks.
Sound has done nothing but decline in share price since the end of January last year, from about 25pps, (which incidentally is way above any historic PRD share price) and has not shown any sign of recovery.
This partial sale of the company to an unknown organisation does not show any signs of materialising due to whoever they are struggling to find the funding.
Is the potential there in the asset? Yes of course there is potential there but the management have made error after error after error.
Are you sure that there is sufficient time for Sound to get all the COGS in place?
I really do wish all the best for everyone that has invested and remains invested in Sound Energy but I just do not see where sufficient financing without massively diluting the shareholders will come from.
According to Rns on 1st April 2020, Sound has a MOU with State Power company of Morocco, ONEE . The Covid-19 case has delayed things till at least 30th June 2020. So MOU with such an important company strategically placed in Morocco means we have an agreement theoretically in place which just needs tweaking in due course from ONEE's side . Once all cogs in place then the SP will rise. SOU were in 23 interested party discussions before but have secured one in place all be it temporarily for now due to Covid-19 . So sp should motor along by July or August depending on Covid-19. Royal dutch shell and the other company u mentioned are much higher price so will be shielding effects of Covid-19 .
SOU should be back to 20p by end on year if not earlier.
Correct me if I am wrong on info posted. No hard feelings it's a discussion group for all to reflect on and learn from. Awaiting your reply and any one else's . Regards GLA
Trellis, thank you very much for the letter you have put together on behalf of SAG, you have raised some very important points.
So whilst Sound is languishing at a penny and doing nothing, with what looks like no future, a number of other stocks in this sector have seen increases in their share price since the impact of Coronavirus was felt.
RDSB from lows of about £9.20 ps to about £14.80 ps
Even more frustrating are the other companies that operate in Morocco, SDX has gone from 12pps to 14pps and PRD has gone from lows of about 1.5pps to about 2.6pps.
So although SDX is not a massive increase it would still have been a better return and of course PRD has done ok so far.