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Versarien Korea Limited, which operated the Korean Plant, made a loss after tax of £771,690 in the 18 months to 30 September 2022. So that's a £771k loss off the books forever plus £604k for the sale of the assets. Ricketts garden leave payments are finished now too. Significant savings and much improved financially going forward
The sale proceeds won’t last 12 months from when accounts are published just look at how frequently it has placed over last 15 months.
The group remains loss making so a material uncertainty over going is pretty much nailed on from auditor.
I suspect net assets will be minimal as well once they record write of intangibles.
At last a patented use for graphene as promised by this company,i take it we didnt sell many football shirts then.
Don't talk rot. No chance of admin. The auditor will now sign us off as a going concern with this cash now on the books. Happy Monday everyone 😀
Will all be sold off and this will be in administration by summer
Due a good here, it’s dropped to the floor and ready to bounce.
Https://lifehacker.com/home/graphene-batteries-will-revolutionize-cordless-power-tools
GLA
Interesting article in the independendent 2 days ago -
"Wonder Material Graphene makes huge step towards practical use "
by Andrew Griffin -The comments in the article are by highly reputable people -Prof Williams I know and have the utmost respect for - ATB Jonno
Very strange to see a rise with plenty of trades, but no comments. I guess the rise is due to this:
https://twitter.com/versarien/status/1756966377154556005
I wonder how much of the placing money is left? Another one coming soon, I expect.
Audited final results were due in early Februrary, according to RNS, but still no sign.
Problem is we don't know the precise nature of the claims
personally i doubt the lapse f time here would be any barrier to a claim in principle.there may perhaps be specific time limits for bringing certain claims,but presumably that will have been considered by his lawyers when formulating the claims.rhere may well be some substance ,however,in the point about his own conduct being partly(or even wholly)responsible for whatever loss he is alleging.impossible to say until we know the details.
You would imagine that one track of any VRS defence against these claims would be why did it take nearly 12 months for the claims to be made, as surely the former employee was disgruntled / hurt / injured when they were originally let go?
Another would be that whilst contractually entitled to the 12 months pay received given the state of the companies finances and the actions taken by other Directors (in relation to cutting their earnings), with the claimant also being a major shareholder of the company, they should've had the companies best interests at heart, rather than continuing to line their pockets. Part of the argument here would be the claimant has culpability in the position the company now finds itself from decisions taken / actions made whilst they were the most senior Director.
Being recorded for later.
Doing his presentation with the Graphene Council on the subject of Polygrene - Graphene Enhanced Polymers. May get an idea of progress through this.
19/1/24 they got away a 0.09 placing market response down 40%.
Yesterday they were 0.157p the spread shown 7%
Dropped again today on Ricketts employment court case RNS.
In the big fallers and risers near every day .
Traders trying to skim the prices maybe.
So VRS finally sniffing the big time and he wants more... cant say I wouldn't do it myself
Probably - that's why it is unbelievable that the fat vag is doing this as it could break the very company that he created - another David Lenigas - I fear.
All just for greed - God how I hate [some] humans !!
Won't VRS need to raise capital for their legal case?
What a vag the f@t man is !!!
RIP VRS
Ricketts never fails to disappoint
So Ricketts wants more cash from this broken business he ran into the ground before he was sacked as CEO.
He waited until after they paid him most of his cash before suing.
What a piece of work.
Wow this company never fails to be an absolute sh*t show does it
Could see a major re-rate if they deliver!
Time to buy