The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
neptunes - having another bad day?
with the possible exception of trellis I have never come across anyone so unrelentingly negative.
of course there is always the possibility that you ARE trellis as well.
Can we moot the following RNS':
18/06/2019 - placing to raise £2.5m
19/09/2019 - half yearly report and going concern qualification from auditors
So the money was raised, with no real agenda clarified, undisclosed investor(s) (again!) and anyone who asked was told it was to satisfy some aim takeover rule or to show they can raise funds if need be.
3 months later, the cost cutting exercise has begun, directors take a aggregate 29% base salary cut, half year reports issued with auditors qualifying the going concern of the company.
So what was the point of raising that money? It proved nothing in the grand scheme of things because it's not enough to:
- prevent auditors raising issues about the ongoing viability of the company
- fund another drill
- re-work the flawed 'state of the art' seismic
- pay off the debt
With cash burn of approx £600k/month this takes them nicely to the end of the year, when (surprise surprise) it is expected the marketing process will conclude by....
Reading between the lines, what was known at the time of the equity placing that was rns'd? Probably that no feasible offer will be made and they might as well stretch the ass out of sound plc to xmas 2019, have yet another lavish event at shareholder's expense and then pull down the shutters because nobody made a decent e nough offer that really values the asset as much as the current BoD think it is really worth....but yet again the half wits failed to realise it's only worth what someone is willing to pay for it!!
#pinocchio parsons waiting to strike again
Andy, armed guard...lol! All he will need is some cake to accompany the coffee & he'll have nothing to fear from me...unless of course the coffee is instant...we might have a problem then!! I can't, under any circumstances, abide instant coffee!
to ... to
Not sure we have been lied to. But then I guess that is down to interpretation.
Great potential gains comes with risk........ these things can go up or down.
Mr Jobbinsci, a little unfair. Some would say a little too trusting and understandably upset. I thought "blaming the victim" was an outdated response nowadays. Interestingly, in all the half-year results and final results I have never heard the shareholders and stakeholders referred to as punters. And any gambler will know "winnings" are tax free whilst profits on share dealing are taxable
Hi Crude,
It really doesn't look like you think we will be left without an offer and resuming the drilling campaign.
Looking forward to hearing feedback of your visit to HQ
I think you are one of the few investors that JP would actually see without an armed guard
All here to make money...... wasn't here to be bare faced lied too.... and god have we been lied too!
Indeep blaming others for his/her greed. Standard AIM gamblers stance.
Ponks, I wont be the one to shut the lights out, I will leave that to our Capitan!
Ecos, I did say at the end of my post that others will have had different experiences & of course I sympathise with anyone who loses money on the AIM! I lost a few grand on NEW & recently delisted Swedish Stock Exchange company Matra! Where will they next list? I shudder to think it could be right here again!
Jez, those canvass photos were taken by a really nice investor called Pete (last name witheld) & his pics were also used for advertising purposes. They are of TE6 era & are top quality. The Company had some mounted on canvass & they grace the walls of HQ!
Dave...amen to that old compatriot!
I personally feel I've been raped and pillaged and given the family jewels to a lying bast'ard who was way out of his depth. If i could get hold of one of those canvasses i'd smash it over JPs head and tell him thanks for ruining thousands of lives whilst he drives around in his AM!
Crude, it means now't if we don't get a satisfactory deal out of this lengthy marketing process, as someone who has been here as long as you everything is crossed we have some financial closure here. Good luck on the 30th.
Crude,
Your heartfelt message reads more like an eulogy. It "sounds" as though Sound is drawing near to its conclusion from the tone of your message. Have you heard something that would suggest we're almost there....at the finishing post? Well enjoy your visit to HQ and don't spread your hyperspamtosis to any of the BOD. It can be awfully catching if you're unfortunate to contract it. There is no known cure, other than to eat like a tortoise for several months. My body is still recovering from yesterday's dinner. Cabbage and red lentil pasta with loads of other nasty vegetables chucked in for good measure. I haven't eaten today as of yet as my body is still in spasm.....or should that be spamsm?! I suspect you're invested in CORO and ECHO and possibly NUOG, so there'll be plenty more opportunities to pinch one of those canvas pictures of a 1970's oil rig off the Boardroom wall. Last time I saw one of those was on one of those Open University Geography programmes with some dude in a brown suit with elbow patches and big framed glasses speaking nonsense to the camera. Each to their own I guess.
Jezza
Crude - Up here in North Britain we have an expression "If you are among the crows you are sure to get shot".
As a winner just have some thought for those who invested into the hype and bull****.
Sounds (sic) like a video of "Deep Horizon" and a package tour would have been a cheaper and less stressful option :0 have a nice cuppa and hopefully they won't hand you the keys to lock up on your way out.
Jez, I am hoping to pop into 'TCF HQ' on 30th October for a coffee & chat...maybe say farewell to whatever staff are left & have one of those canvass rig pictures off the wall when no one is looking! What a momento for me that would be! I had such a great time as a Sound Energy investor. How many opportunities in life does one get to climb onto an oil/gas rig in an area of the world you would never think of visiting? How rich was the experience of spending time in Oujda in the company of some very interesting & extremely likeable fellow investors & company staffers! I will never forget my visits to Morocco or being able to speak at the Shard from an investor viewpoint & then post-Shard drinks in Borrough Market. Getting to know Sound employees & especially James, who I always fealt & still feel has shareholder interests at heart & has tried to build a company from nothing! I do accept others have an understandably different perspectives & experiences regarding their investment & risk but I can only relate my experience as a Sound Oil/Energy investor.
Crude,
what day next week are you planning to pop by Sevenoaks? You'll have to let us all know what the general mood is down there? If you're asked to join them in a game of table football or paper airplane making, then you know things are getting pretty desperate. You may even get the opportunity to stroll across the way to M&S with Brian for an egg mayo sandwich and a chicken tikka samosa. If you see N4aPound en route, sitting out in his Austin Metro and his Bresser binoculars in one hand, flask in the other then send him my regards. His nads must be frozen by now.
Esox, I am even thinking about adding to my CORO at the expense of buying any more Sound! probably have to do some research first though.
Morning, Crude.
At least news at our Sister company.
Esox
Very droll!
Is the Spam served Battered, like the Sp is at the moment.
Esox.