The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Nope. Nada
Has anyone received their voting forms yet?
Another load of BOT trades at exactly the same time. You just know the mms are messing with this and obviously there is a plan.
Roger in 2 weeks people will be able to question the board at the AGM. I myself am unable to attend but I am sure that questions like, how are sales going? what is the amount of the vat refund? If sales are rising, when will break even be reached? will be put. As I have said. if the purpose is to fund paying increasing production costs then I am 100% in favour. If sales are flat then "working capital" means just to extend the boards pay. Since July the share price has been a car crash, hence my lack of trust in this board.
Clarity? CLARITY? from the VDTK BODs ?
That is the only time I’ve laughed in nearly 5 years of being a VDTK share holder.
Written off now. It’s bent imv. 100% dodgy and finding someone’s lovely lifestyle in a beautifully Asian country
If this passes at the AGM you are just voting for having a JV with yourself. Due to the vagueness of the financial announcement I will be voting against. Some clarity would be welcome.
Been on the morning grogg?
Likewise, I'm just going to have to sit it out and wait to see what the stink is. Who ever is coming on board has already been gifted 20% of the company for £500k. Amazing to think they'll now be given another 40% for possibly even less than that. I wonder how Rob Richards will be benefitting. Dark deals going on here. Clear now why RR lives in Thailand - very far away from the reach of the FCA. Not that they'd give a f...k what was going on here.
I had got an end of year share price target of £1 per share, does this mean that I will have to lower my expectations to 50p?
Sorry posted before reading the news. Well they are not wasting any time. Only need 50% for this and having diluted earlier I do not think they can be stopped. I am going to hold my nose and wait for the sales figures.
Roger correct me if I am wrong, any major change to the company would require a special resolution. This would require 75% of votes to pass. If there is any foundation to your earlier comments regarding a possible buyout then someone feels the company is worth buying. If the company has to raise capital because there is a problem paying vat and invoices on an increasing order book then I am all for it. The wording on the announcement seems deliberately vague.
Ah excellent, only 100% of share issue. You could not make this up. Deal already done imv and company to be given away for peanuts. Actually, peanuts that I paid for. Clever old me. Don’t care any longer if this goes bust, I’ll be voting against just to try and shaft the Directors.
Roger the numbers are suggesting sales are rising rapidly. The company had 135k cash at the end of June and an additional 500k ( minus expenses ) in September. If we say 600k then even if we assume no revenue we have a cash burn of 100k a month ( they say they have 4 weeks money left without the vat refund). For the refund to last 8 weeks IT MUST be circa 200k. But 200k vat in Q3 suggests a surge in direct costs ie materials for production. Not hard to work out that you need to spend circa 1 million to get a 200k refund. Also you cannot have a refund if you have not purchased items that have vat added. Q3 is July To September. If the company had given the vat figure it would have been easy to work out a rough idea of how the sales were going. Why was this not done? It is certain it was not done to protect the share price.
And now we have more shenanigans to bear. Whole load of small trades all at exactly the same time. This is where AIM shows itself to be such a cess pit and just a shark infested pool where the pis are considered fair game
If this even gets back to just .45p then I’ll sell at a loss but be happy to be away from these people with no morals, no scruples and nota shred of decency in them. Can’t print the word I would use to describe them.
Roger I am not certain on a buyout as that has not been mentioned. I think you may be right that a deal has already been agreed. I am more in the "a friend of a friend" gets to own a large share of the company for peanuts. The announcement is vague and lacks detail. Why is cash so short? How are sales going? What is the amount of the vat refund? What is a significant stake? Collaboration in what?. In the next 4 or 12 weeks? that is a wide window. I think we are expected to greet the deal with gratitude and praise the brilliant way that we have been saved. There are only 2 scenarios, The company goes belly up or we hold our nose and see what comes out in the wash. If sales are rising they only have this one opportunity to make a killing. I cannot see any body investing if sales are declining or flat and yet the company says it has no money but discussions of some sort are going on? Does not make sense to me.
Unless the deal is already done and this way it doesn’t seem like such a complete car crash if the sp is .2 and a buyout is for .4p with Directors carrying over their shares. Honestly, I wdnt put it past this CEO
If the announcement is factual then I do not see any way out. The board will have to prostrate themselves before any investor and plead with them to invest for the sole purpose of the board remaining in their well paid jobs. Any investor would not take kindly to the fiscal incontinence that they have presided over. Hopefully any investor with 500k to spare will demand at least 51% of the company and then sack the board before the ink is dry. I know my shares will be diluted hugely but it would be worth it. Only a moron would announce such financial weakness during investor discussions.
Now up over 7% in live trade....
Gavin Mayhew and john Celaschi have the option with the convertible loan taken in May. What I do not like here is the constant "mushrooming." The announcement is very vague. To announce during active discussions is unusual and very foolhardy. It could be that the company badly needs someone or something to come to its rescue and the board are really that thick ( or desperate). I am going to prepare for the worst and hope for the best here. Ever since the board were given the green light at the AGM things have been a disaster. I cannot see how sales have not increased in H2, but maybe I am clutching the same straws as you.
And that in fact there have been decent sales but they are deliberately painting a glum picture and things aren't quite as bad as they appear? Hanging on to the barest of threads here....
Could there be some Director buys now at this level?
The numbers of this financial statement do not add up. The company is suggesting that the amount of vat refund will give them an extra 8 weeks in which to give a large part of the company away. We know that the company is burning through around 150k a month in H1 most of which is admin expenses ie non vat. The total direct costs were 319k ( with one off costs) so we will assume that all of this has vat applied. We then have to assume that the company forgot to claim for quarterly vat refunds the 20% rate. Say that sales have been flat so direct costs have stayed the same , the company can only expect to receive 90k in a vat refund for the 3 quarters this year. That will only get them to week 3. The only way for the company to receive anywhere near the amount of vat refund to last 8 weeks which at minimum would be 200k is that sales have increased and therefore direct costs. On this evidence I can only conclude that the announcement has been made with the intention of lowering the share price. As the romans said "cui bono"
They have guaranteed that the share price remains subdued for the foreseeable future. Looking back at how the share price was seemingly manipulated before the placing it could easily be argued that the door has been left wide open for someone to pick up a bargain If this is true then at least someone wants a slice of the pie even if it is at virtually no cost. The problem is that the board have been given a green light to do as they wish. If they are as inept as they seem the future is not bright at all. Half of me hopes that there is some dodgy dealing going on as this would at least show a degree of intelligence. Some would argue that getting paid 150k a year for achieving nothing shows plenty of intelligence.
Well it’s already halved since the placing price of .4p!
Saietta did much the same recently - the share price halved!
That seems more likely to me ohs
Thing is, that suggests they’ve known all along vdtk is worth having but have manipulated the situation to get it for peanuts. If it turns out to be this other company that Rob Richards I’d involved with then surely that will trigger an Investigation by the FCA?
Twink - For all we know, the £500K subscriber and this latest 'potential strategic partner, active in the solar energy space' are one in the same...... and they're simply going to average down their subscription investment by taking a significant stake in the company for peanuts.....hence why we possibly never saw the subscription shares hit the market....