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chester18,
10h04 - 'Who are the creditors?' You seem unable to understand that TRX owes MidCap more than $2m.
Sure, people paid more than the current price in the past but that was when the company was raising funds to take it to free cash flow. This has not happened so they overpaid.
'Sometimes I wonder wether people just try to act thick to cause a stir or actually are.' Reading some of the optimistic posts here today I wonder the same - did you expect the share price to improve on the contents of the RNS?
Anyway, if you think this will be bought out at 4p then fill your boots - time to average down?
Nomlungu I've just seen your comment about the market not agreeing that the assets are worth 4p a share.
There is a huge difference between market sentiment and the value in a buyout situation.
Try buying all of the TRX shares on the open market and see how quickly the price passes 4p.
Sometimes I wonder wether people just try to act thick to cause a stir or actually are.
Chester.
That's exactly what I thought.
The RNS is widely pointless except to double down on financial position, re-assert that demand is still there - possibly fishing for interest from industry buyers?
The other element of the RNS though was to warn of dilution/value reduction for shareholders.
The 'we are still seeking a financial solution' element is not really news.
I too have wondered if the BOD will have approached the UK gov for a loan. Surely the terms will be better than anything the company could get on the market given current volatility.
A loan under CBILS is not from the Government but from an accredited bank - who will not lend without security - the decision is made by the bank itself without input or reference from the UK Government
Another point that just struck me is :
Why announce these details today and not wait two or three weeks when negotiations could be at a closer state of conclusion?
Could it be that will or have approached the UK government for a £5m loan, siteing Covid-19 as a contributing factor in the companys inability to access funding.
Chester.
'The assets of TRX are worth a minimum of 4p a share'
The market does not agree with you, does it chester18?
In June 2017 Institutional investors took part in a placing at 10p a share raising £40m.
The RNS comment :
"is likely to result in a material reduction in any resulting value attributable to shareholders"
I would say is aimed at those Institutional investors and not at anyone who has bought at around 1p.
The assets of TRX are worth a minimum of 4p a share so a takeover should be around that price.
This advent of Covid-19 has already change our world and TRX are just one company that fate has affected negatively.
Their products are in demand and will still be in demand once the pandemic is over, it's now a question of who will step in to pick the company up on the cheap.
Chester.
Cash is king and shareholders are dispensable - don't ignore these facts if you want to protect your capital
"demand for the Company's BioRinseTM portfolio continues to exceed capacity. Consequently, the Company currently has not experienced any material reduction in net revenues versus expectations."
I wonder how much extra production they need to become profitable? And if another month and a half of cash runway has mainly been achieved through increased revenues as it could mean TRX could kick the can down the road again in May.
I'm no day trader but this is starting to get a little uncomfortable. If this keeps drifitng I'm going to get start getting SXX stage two funding flashbacks lol.
Speaking of which. If there was a share consolidation would that effect any potential takeover offers in the future?
It's not as if the quality of the products or demand would change.
From ADVFN - Channel Pirate :
This is coming across as it is being worked to "an agenda". Shareholders get nothing and the company is sold off to the likes of a private equity group for peanuts, and the top brass here get a big thankyou.
Maybe I am not awake properly, but does not sound so good for the shareholders. Let's hope I am entirely wrong.
I still have faith and will be adding when I can. Hopefully at these levels before more news
So the RNS basically contained no news except for floating the possibility of share consolidation for shareholders.
This is somewhat worrying as it may mean the only reason for the RNS is to warn of this.
At this stage it’s still a hold for me.