Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Ignore the garbage posts about 'short life' from the shorters and trolls.
The truth is that TOM could last 8.4 months on £300k!
As I posted a couple of days ago, the £100k raise lasted 84 DAYS.
So at the same burn rate £300k would last 252 DAYS, which is 8.4 months.
Just bear in mind that we are only 10% down from before that pump last week.
Hot are you the diddymen ADVFN? as you both have the same outlook on Tomco.
Yes Hot, indeed by Easter but he did not specify which year.
SC---You are some charachter.2 plus 2 is 45 in your world.
HF14,
Still clutching at straws to try and justify your incorrect claims, and failing because it's so transparent.
If you don't believe it's going to happen then why are you still here? There's thousands of other stocks to move your money to, presuming you even have any in here right now, where you can try to make the losses back that you don't believe you can make back by leaving your money here. That way we won't have to keep reading your made up mind games posts trying to create as much negativity as you can so you can buy back in lower.
SC...What you have to remember is that 2 or 3 years ago Potter said the funding should be compoleted by Easter. That sums things up for me. Since then all the money raised has gone on salaries and legal costs for the placements. Oh and his travel expenses to the USA nearly every month.
Just watched the video and l get the feeling they just havent got it in them to get this sorted. This has given them breathing space but it will end up with (sorry, we did try) p.s. thanks for our wages. Was getting annoyed with nodding zac lol. 99.9% down on this so not worth going anywhere. Come on you mummies boys, prove me wrong.
You can argue as much as you like, it doesn’t get us anywhere.as far as I know the 2 bonds ahead of us are large sums of money. As regards legal fees. Anyone that has gone through a divorce, knows they don’t come cheap, far from it. I think the BoD, have done the right thing here. TOM are not in charge of events. Yes, disappointed like all. But we are where we are.
"Based on ContractsCounsel's marketplace data, the average cost of a lawyer in any legal field is $250 - $350 per hour ."
https://www.contractscounsel.com/b/how-much-do-lawyers-cost
This is why they need £300k, not to just keep the company going for 8.4 months, it's blatantly obvious that they want to get the project funding agreement in place ASAP, so within a month or two. The last £100k lasted 84 days, and that would mean around two thirds of the cash is for the legal fees.
"Based on ContractsCounsel's marketplace data, the average cost of a lawyer in any legal field is $250 - $350 per hour ."
https://www.contractscounsel.com/b/how-much-do-lawyers-cost
This is why they need £300k, not to just keep the company going for 8.4 months, it's blatantly obvious that they want to get the project funding agreement in place ASAP, so within a month or two, and that would mean around two thirds of the cash is for the legal fees.
SC..So you think the hundreds of thousands they have raised over the the last few years are for legal costs.Legal costs for what as nothinh has happened ?
You speak more BS than what comes out of my local farmers cow field and it's one hell of a big field.
HF14,
I see you are clueless about how much legal advisors, attorney's, lawyers cost.
I suggest you research that before posting baseless assumptions and clutching at straws to try and make out you are right.
Your 3 points are total BS. You have zero factual evidence for any of them.
As for how long TOM could last on £300k, as I posted a couple of days ago, the £100k raise lasted 84 DAYS, so £300k should last 252 DAYS, which is 8.4 months, thus proving without a doubt that your "just around the corner" is baseless garbage.
Just a thought.
The discount was 47%. If the business is going down the plughole as most are suggesting, why would any mug throw 300k at it?? On the other hand it's not a lot to a speculator who can afford to spash the cash with the chance of a spectacular windfall.
As I said. Just a thought
SC Note the below :
1. Salaries are expenditure as the other poster stated. Where else do you think the money is coming from to pay the salaries ?
2. If all these fund raises over the last few years are for legal costs then something is very very wrong
3. Todays RNS basically states the end of Tomco is just around the corner bar a miracle.
I see this company`s shares suspended in a month or so.
47% discount. So the company has been sold for a song.
"Anticipated Expenditure"
Google, can salaries be classed as 'expenditure'?
"Allowable expenses include your basic office costs such as stationery and the bills you pay on your business phone. Travel costs and staff salaries are also included"
So yes, salaries, oh, and travel costs. What's the weather like in Cayman this time of year?
HF14
"You can guarantee the majority of the £300k will go on salary payments"
Well that is a load of BS as usual because it states the following, which points to legal costs, not salaries, which would be termed "operating expenses":
"The Fundraise has been undertaken to provide additional funds towards the Company's anticipated expenditure as it seeks to progress its plans for its wholly owned subsidiary, Greenfield Energy LLC"
Got my top up and a nice average down today. That is what situations like this are for if you believe funding will come through, as I obviously do.
To the moaners, carry on moaning, it achieves nothing, only action achieves something, either action like I have taken, or sell up and move on if you don't believe it will come good and then you'll have no reason to come on here moaning about TOM ever again, saving you time, stress and worry.
@ASI
No idea what has gotten you in the mood to insult me. I simply take what is given to me by way of offical RNS news and react accordingly. This RNS extends our road towards attaining funding yes, but apart from this it does nothing but reduce shareholder value, and as to whether funding will ever come is up for debate given how long we have been down this road.
Trying to call me out as some pump n dump shorter is absolutely hilarious, I have been in Tomco for quite a few years now and I haven't sold any shares, only bought to average down. I know full well what I entered into and I only invest what I am willing to lose, but that doesn't mean I should be complacent and wholly tolerable to all dilutions and negative RNS's that come my way, we all have thoughts and feelings on matters when official news is dropped, whether that be good or bad. If you take this RNS as good news, then so be it. If you don't agree with me, so be it, but don't insult me and make assumptions about my character which is wholly unfounded.
I take the good with the bad and even laugh about what I feel is becoming a slow motion train wreck as I watch my long time investment drain further down. I accept and own it, I always have, but that doesn't mean I should dance around news to appease others.
As for your consistent claim that the 666+ million shares were issued at 0.045 pence from 0.062 pence which is less than the 47.1% discount, please show me proof of this, because from what I can see in the RNS is that they issued 666+ million shares at 0.045 pence from the close price of 0.085 pence as of 20/02/2024 equalling to a 47.1% discount. Where is this 0.062 pence you state coming from? Because the only thing I can see in this RNS which stipulates anything close to your 0.062 claim is a declaration from an old placing where an error was made on around 42 million shares where the placing was issued at a price of 0.061999 which is obviously close to your 0.062 pence round up, where the shares should have been issued at a price of 0.061911 pence, and so they needed to re-issue a futher 60k shares to rectify the issue.
I wont insult you because I'm not the type to be so petty, if I'm wrong and evidence shows me to be, then I will always accept being wrong. But if you are going to call me into question, you had better back it up with evidence.
...and some (like me) have been bitten too many times to realise (too late) that AIM is nothing more than a legalised extortion racket.
It looks like the same Petroteq gangsters and mafioso then tried the same trick in Norway, I spotted this recently, it's the translation of a Norwegian article.
https://pdfupload.io/docs/0f7feb36
And someone just posted that Ecoteq Energy are about to be deregistered from the Oslo stock market, it was announced by the NOTC yesterday afternoon. Maybe related to the above article and the lawsuit against them in Norway.
https://www.notc.no/NOTC/selskaps-meldinger
Crownos As I have already stated the placing was based on the share price at .62 so isn't a 47.1% difference. It was inevitable that TOM would do a placing had you known its history and its current financial situation. Simple maths isn't your strong suite is it. You know the risks in P&D's that you partake in and ramp the hell out of. You have probably been spiked, man up and accept it and stop playing the victim. Now you know how it feels for those you ramp while you sell and leave to take the hit.
"Is it any hope here ?"
About the same as Petroteq, another "oil sands" get rich quick scam where unscrupulous executives siphon off Investors hard earned cash as salary payments, while achieving the square root of zero!