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The negligible value has now been confirmed.
The process should be a claim through your tax return to register the capital loss.
Apparently, you need to do it through a tax return otherwise you can't use the loss as an offset against same year gains or against future gains.
https://spacenews.com/streamlined-and-ready-for-africas-growth-markets-qa-with-avanti-communications-ceo-kyle-whitehill/
Interesting article, admittedly 6 months old, but shows that the business itself is not fatally flawed, but the way it was financed, and the original retail focus was wrong. With the debt burden significantly reduced, it will be interesting to see whether the can turn it around (though of no consolation to PIs who got stuffed, albeit, somewhat predictably).
Well it does seem that the business is still alive and kicking, but like you say, of no consolation to P.I.s or will there be?
Its kind of like a rebirth, if they can aquire $100 million per year than it looks as though theyll be on the road to recovery. asked if Avanti could reach this figure Kyle says' We’re a little bit short of that at the moment, but that’s what the revenue expectation will be for 2023 year-end. There are about four or five commercial initiatives we just need to deliver in the next 12 months and we’ll be there'. Well thats a good positive statement, now im not sure whether they ever will re-list, and if they do then the question is ; will we ever get back some or even all of our past investments?... or is it lost in space?!
Hi LongTrek, I think there is zero chance any PI will ever seen any money it should be written off. I follow Avanti they are doing well winning awards and some big business but its not the same Company we invested in.
Hi Tyche,
Im the type of person who always holds out hope, (rightly or wrongly)
going by past experience, one example is when i thought one of my investments had been wiped out because this company i had invested many thousands of pounds into de-listed, and there were all sorts of things going on, like accusations of corruption in the company, bad management etc.
Then a few years later, unbeknown to me, the company had been taken over, changed name, and re-listed on the aim market.
Then out of the blue some time later It suddenly appeared on my share dealing account, and all of a sudden i was up by a few hundred pounds.
The amount was not much to get exited about, but i did make a profit, after having thought the company had died a death.
Maybe this is one of the reasons why im slightly optimistic...
Sorry to disagree Tyche, but it is the same Company YOU invested in. It's just that you don't have any financial interest in it anymore following the wave of debt holder bailouts required to keep it going.......
Is this even possible? If it ever came back and got listed again surely it would have another ticker symbol? and be a completely different company?
I am wondering if I could get some advice I have the shares just sitting in my ISA still - is there any chance I can do anything with them. I cant even sell them or get rid of them? does anyone else have a similar situation and is there even a small chance these shares may in 10 years become active again?