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With labour most likely going to win uk election and going GREEN , AC should be getting their act together,some hope most likely this firm is going under when they could be making tons of money.💰
Don’t forget shareholders have been ******* as well.
Seems there’s not going to be a ARA for 2023. Wonder what the highlights would have been:
Total fundraising since MR became Chair in 2016; $50m
Coalswitch produced: 0
Other operations/achievements: 0
Value of company: $0m
So if "It remains the Board's belief that CoalSwitchÒ has the potential to become a market leading, next generation renewable biomass fuel that can transform current coal consumers including coal fired power stations, heavy industries and its use can be extended toward the existing biomass industry and its current dependence on the use of white pellet fuel resources."
How could it possibly be true to say that
the BoD " believes that it will have no option but to consider a members voluntary liquidation, in order to return capital, if possible to shareholders."
None of it made sense. I’m assuming 1.1m went into paying down creditors debt. The fact the company is talking voluntary wind up, it cannot carry any debt. I guess at this point, they cannot mislead people, as no one knows how this is going to pan out. Although I’d still rather lose money here than support the mass burning of plastic as an answer to the problem
If you double £100. What can you buy with it. Nothing. Pound is valueless now a days As everything is gone very expensive
In a RNS made on March 6th Rowan announced AEG had received the $1.65m repayment from Player Design as settlement for yet another failed business partnership.
In today's RNS we are told absolutely nothing has been achieved in the last 2 months other than Rowan spending over $1.1m of our rapidly depleting shareholders funds and he may now not be able to produce accounts for year ending 2023 because there's only $500k left in the bank. That's some eye watering cash burn and I'm sure there are plenty of accountants capable of knocking up a trading statement for 2023 especially for a company with zero sales.
He does however finally confirm AEG's ownership to 4.1% of Alpha Prospects shares which seems to have been kept very much out of public eyes but presents a low valuation to its worth.
At the very same time Rowan was getting his fingers on the Player Design repayment Alpha Prospects placed 40 million shares at 12.5p to secure yet another licencing agreement for the STRIKE Foundation revolutionary emission reduction technology therefore increasing its market worth.
Surly knowing you need to liquidate your position in this exciting technology any good CEO would want to talk the value of this investment up or at least value it at the last very recent placement price. So how can our supposedly illustrious leader believe it's value to be approximately a third of that at 3.4p?
As Rowan reign comes to same disastrous ending at yet another AIM listed PLC you must wonder if it was either his capabilities or his true intentions at fault.
https://www.alpha-prospects.com/latest-news
I'm not sure, it's likely that the accounts won't be finished because of going concern risk (hence the suspension from AIM) and it'll be a fire-sale of the patent in an effort to pay creditors, there'll likely be nothing left for investors, I'm staying out.
Might be worth investing £100 on the hope I might double my money.
Of course it comes from waste wood mate. There will always be wood waste, as humans need trees to capture carbon, and produce oxygens, and they need to manage them to ensure survival by making room for the young and keeping disease at bay.
Yes, I am smart. Smart enough not to go around proposing further pollution by burning more toxic 💩. 🤣. Honestly 🤦🏻♀️.
@blue - well aren't we a smart@rse? if you knew much about renewable biomass generation then you'd know that far more of the material comes form waste wood (sawdust) from logging / timber production (definitely not old, sickly trees) or from short rotation coppice like willow or poplar, because it grows back quickly and can generally be harvested every 3 years.
it's always good to quickly spot the rampant ******* on the board, so i know who to filter out in order to have a grown up conversation rather than with some @utistic bedwetter.
What is this?
Who knew burning plastic (which is a derivative of oil a non-renewable source of energy) could produce energy 🤦🏻♀️.
However, the planet needs trees, and needs humans to manage said forests by removing the sick, the weak and the old, to keep forests healthy, and free from natural disasters like forest fires. Which makes coalswitch an actual renewable source of green energy 🤦🏻♀️
It was posted earlier. So come on, own up. Who got pumped and dumped earlier on?
Who is left holding little baby timmy?
Hey all - I'm going through the list of AIM Alternative Energy companies (it's my sector of experience) and wanted to see if there was anything interesting / potentially useful - this one looks bloody horrific to be honest. I don't see me investing at any point soon, but I'm genuinely interested to hear from those who know it best. From what I can tell this CoalSwitch stuff looks like biomass based charcoal pellets, so in theory it's a competitor for N+P's SubCoal, which unlike CoalSwitch, is made up of general non-recyclable waste (a lot of it is plastic).
This is being pumped by the usual pump-and-dump crews via Twitter aka X. Stay away, or you will be left holding the bag!
So £160k mcap? 🤣 cant see it myself
50 million in and the output is 2% of that. Look at the '2 million' in that other company. They cannot write an RNS in English. Look at the names.
That tech process is not proven. Its almost like they know they cannot scale it
Something never made sense about that air permit back in Lumberton. Its like they did it well..
Hard to say. Patents are dependent on production. Funny if Tyler bought it and got AEG shareholders to pay for it.
Anyone else selling low 0.30s… Asking for a friend lol
Looking forward to seeing how much cash they actually have after liabilities/ wind down of existing assets, I think people may be surprised, should be more than current mcap if so the road to a 1p shell should be simple.
Even if it’s little cash left there’s £50m of retained losses which may / may not be valuable to an RTO target.
Didn’t want to buy again but talked myself in to here again, rude not to after the 300% day last time
Good Luck…
I have complete sympathy with your point BioE. I said for a long time that Rowan had no interest in anything but selling the patent. To me it was a clear as a bell and I said so at the time.
Don't forget how late in the day it was that he announced that he had run a company that has gone bust and then only because it was an AIM Rule requirement. Ditto Aitken who had helped to run more than one company that went bankrupt and had to make at least two AIM Rule 17 statements. Soon they can add another company that they have been involved with has gone bankrupt. Coincidence, bad luck? No chance to my mind. They knew what they were doing from day one. Look at the remuneration packages for failure after no action after failure after no action little earner - eh Tommy Boy?
Anyone seen Michael 'Tommy Boy' Rowan's apologists on here since the news of their erstwhile leader's failure?
Looks like Aladinsane and Seattle they were nothing more than we thought - a pair (actually the same person in all probable truth) of paid ramping guard dogs for Tommy Boy. Remember when Seattle told this very board about a so called 'delivery' of coalswitch a whole weekend before the initial announcement. He never did explain how he had inside information. It was the same Seattle who, on this board, asked people to send him questions to pass on to Tommy Boy Rowan at an AGM.
Having inside information, asking for questions to pass on to the Board - hardly the actions of a private punter on here is it?
What if one of them was Rowan himself? That would be the height of saddo, but nothing is beyound Rowan - take a browse at the RNSs for the past years and see how much of it could not have been true at any stage.
Like you Bio, Rowan and his Board of Directors make me sick. Every last one of them.
Bear in mind that Michael Rowan is a crook who will bleed the coffers dry as long as he can.
Let's not forget he went behind the shareholders backs and handed over $1m to Player, after informing the markets through official RNS that Player would finance the plant entirely.
Michael Rowan should be in prison for fraud!
His goal is not to get as much return for the shareholders.
Thank you for the information.