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Hope they go to jail for this !
Working capital update
With its limited cash resources the Company is dependent on the ongoing cooperation and support of its creditors to manage its working capital position. In the event that the Company is unable to raise further funds and its creditors are unwilling to provide their continued support, the Company is unlikely to be able to continue trading after a 6 week period.'
That's an fein joke! to trade you have to buy and sell! what they mean is , it will take us 6 weeks to cream off anything left in the company's bank!!
I have never met a member of the BOD but I do believe the statement in the RNS dated 17 Feb:
'As a consequence of the resolution not being passed by shareholders, the Company is unable to raise new funds by the way of issuing new shares. The directors are considering their options to resolve this situation.
Working capital update
With its limited cash resources the Company is dependent on the ongoing cooperation and support of its creditors to manage its working capital position. In the event that the Company is unable to raise further funds and its creditors are unwilling to provide their continued support, the Company is unlikely to be able to continue trading after a 6 week period.'
The future looks bleak to me.
You’ve hit the nail on the head there they won’t communicate never have communicated just spouted what little we should know to raise cash.
Ask those that’s met the BOD if now they believe a single word they say.
Get one to agree with you and then I’ll back off.
JUST ONE OK.
Rightback- with respect if you want to sow division and anger between shareholders and impact a combined cohesive approach to dealing and communicating with VAL and the BOD- then you’re certainly going about it the right way.
Maybe music to the ears of the Company and it’s advisors!
Keep fishing SL100 fella but I doubt you’ll get any bites.
Good that’s fine.
SL we are seeking direct legal advice on procedure and direction, thank you
ValJu- just my opinion. I feel that we need continuity of leadership at present- so it’s important that yourself Fred continue to speak for the shareholders and interact with VAL BOD.
It would be useful maybe to have a couple of contributors to review future draft documents intended for submission. Maybe somebody with legal / contractual knowledge would be good as well HeadinHoncho seemed to be knowledgeable (apologies if spelling incorrect).
But clearly we need communications and response from the Company.
So we await developments.
Morning Yamsel, thanks for clarification!
I did wonder, as not seen you on here before and so please forgive the assumption of maybe what deemed an "advertisement" for said parties mentioned :)
Thanks again VJ
ValJu I think my suggestions have been incorrectly interpreted, I was not promoting class action above the current path, I said 'if this does not work out' what I mean is, if the current discussions don't work out and the company was taken into receivership, and shareholders decided on class action you could then look at the suggestions made.
having seen the advice / information offered, I think we all would prefer a solution that enables the company to continue and thrive, rather than just burying it for "anger/frustrations" sake?
that having said, it takes two to tango and without meetings and discussions, that are balanced / fair, not much is likely to be achieved?
so until we get an acceptance of our requests, for a further GM, once we have formally resubmitted them, I dont suppose much can happen from our end. what the Co is doing I have no idea... at this point
I did suggest a central meet, for any and all who cared or were concerned enough to come and discuss it, but only the original few responded? and as most of us talk daily, it seemed little point? what we needed was fresh blood, with other opinion's / idea's that could help the situation/
anyway... further transparency updates, to follow, once we are corrected and ready to start again...
as Drac states, the Yamsel suggestion, would be imo a very very last resort... as with no bad reports todate, and four compounds, there is all to try for... until we are told differently by rns!