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The delay in DTC is a big blow, considering it's revenue and profit that's now required.
ther's always a concern that, once a company gets a history of delays/difficulties, that the assets become a target for cheap takeover and, having put all their eggs in China, have to wonder whether there'll be an attempt to push the company into further trouble to take those assets.
the upside is, if they can finally get manufacturing going, their assets are going to be in demand so... have to see what cack-handed further furnding they obtain, having pretty much trashed the sp in the TMT takeover.
This is a desperately awful RNS-full of terrible updates and with barely anything to offset the feeling that this horse could be on its way to the knackers yard.
Am astonished that there are not calls for the very obviously useless to follow the equally inept FD out of the door.
Useless CEO it should say.
Concept
My only thought is that the takeover lot knew of all this but still accepted
25,000,000 shares
They ain’t sold that many yet
That’s only piece of good news
On the face of it, it is an overreaction. Based on the projections and the substantial cost savings from increasing production to China valuation should be a lot higher if they can deliver. However, they have lost a lot of credibility with the market. They have persistently undershot projections in the last 5 years. Lack of leadership quality and another handbrake turn with the ditching of US production based which was costly to set up.
At least the underhand maneuvering of TMT hasn't done them much good. They are now underwater from where they entered. That cheered me up.
CM
They have 3 million dollars
No stock
Not yet written down any surplus stock and inventory
They have lied about production
Sales
Everything
The burn rate appears to be 500,000 plus per month and that’s when they produce nothing
Intellectual property may be worth few quid to administrator
But this is dead
Lies and lies
Theboyg,
Sorry about delay in response. I’ve had a plumber in most of the day replacing radiators and sorting the main drain! – shares not high on agenda!
As expected, I think a short-term over reaction and I see it as an opportunity to buy more and reduce my average still further.
Time for a cool head – it does help having a brain tumour, no pituitary gland therefore body not producing adrenaline or testosterone!! The world could end, and I still wouldn’t raise an eyebrow!!
No TEK shares held by me now, but I did very well indeed out of those! (until I realised, they seem to think the shareholders are invested for the good of mankind, rather than a cash return on their investment, so I legged it at 30p, cost just under 5p!) – I’m hoping that Bell is different and understand investors are looking for a return – albeit a bit of a wait – could be wrong!!
My policy over the decades is buy, when everybody else is selling (as generally the market has already priced in the bad news) – all that people do is to crystalise their losses – having said that, there has been one or two occasions where I made a huge loss but can often offset them for CGT tax against profits in another company.
Anyway, just helped myself to another 230K shares to round total holding in this company up.
Big bang
I just see what they trade on? No
Money to launch a product a year late!
No money to make product
No money to service old products
Inventory write down
If they are burning what is close to 800,000 a month without building anything their money won’t last the summer!
That 3 million includes the 5-6 million raised!!!
It’s beyond bad and no way back sadly
Just to watch 8-7-6-5-4-3p then administrator
Theboyg,
You may be right, but nothing in this world comes easy.
If you want big returns, you must take big risks…trust your gut feeling I suppose or leave the funds in a deposit account where it is safe. But don’t risk what you can’t afford to lose – a good spread in other words.
In any case, I do enjoy trading – have done for decades – used to think I was doing well in the 80’s with all the privatisations and used to be excited about making £200 a deal - I used to apply in all my families name and others in shares like TSB!!
Deals just got bigger and bigger over the decades!
This one could go bust or a takeover bid…who knows – we shall see, but don’t give me any of that ‘I told you so’ stick if it does go belly up!
One top tip for the youngsters – don’t stare at the screen all day and react to every little movement – go away and do something else!!
Madness for anyone to buy at these levels, this is heading under 5 p and likely considerably lower in the long term
Madness for anyone to buy at these levels, this is heading under 5 p and likely considerably lower in the long term