Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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The company is putting in plans to hit the market for more cash. Looking around to see if they can raise cash by selling shares. Its the only thing that can keep the company and float and secure their salaries.
Looks like the next fundraise is between 0.10 - 020p
If it does not find a backer, its administration. If it finds a backer it is only with huge discount to the preset share price. 50% - 75% dilution coming. But it will not help. Its just to keep the gravy train going. There is no business here and its going to head into administration early next year. Income of £67,000? LOL
Probably all bought by one client for his Christmas gifts and will not pay enough to cover the salary of one director. The company is done.
Anna the ex CEO has publicly stated on her LinkedIn account that CBX has delivered over £5m of sales , what is the story there and who do we believe
https://x.com/paulrodgers10ma/status/1738189178637091048?s=46&t=3oQ2x6B8mYLlBRy_7ZWC7Q
Https://x.com/cellulargoodsir/status/1738093433879711869?s=46&t=3oQ2x6B8mYLlBRy_7ZWC7Q
Call them out on Twitter and make sure you #CBX $CBX , it’s beyond a joke now
Looks like a revalue now there is no news and we know that Darcy and his team are creaming off the company , sat at 0.3p , nothing keeping it higher now
When can we hold the BOD accountable
You have to request attendance
Paul, it's an insult to the shareholders.
The AGM is that an open house for investors to attend?
Shiny shoes -I agree 100% , it just doesn’t sit right
AGM next month , all shareholders should vote against the salaries of directors, what value are we getting ATM
Darcy on the same pay scale as Amanda Pritchard the CEO of the NHS.
Absolute joke!
Everyone should be digging him out
Maybe it’s about time we heard from Matthew Lodge , he owns 15% of the company and founded Kingtide , he is also a director , it is time he spoke to investors
They got a couple of months left looks like. Big dilution to come probably at half the current share price or less. 0.2 pence or less. With a dire Christmas trading this could all be over. Administration to follow. They just cannot seem to sell these products. Company to suspend share trading on a failure to find backers for more funds. Sorry guys. These results are appalling. They blame current conditions in the market and head-wings. Its got nothing to do with the market conditions but their own failure. Company to call in administrators in a couple of months. Cash gone.
I very much doubt it. Darcy and his Carbon hustle bandits Earning £250k good money for an interim part time ceo. 67k sales. Joke!
Where is friese? He's normally very,chipper about dar y and the carbon hustlers
Fingers crossed that they make something of King Tide. Good luck to you all :)
Mel - I don’t know either , I would guess about £500k per year in costs now
I have a friend by the name of Wayne Kerr! say it quickly enough and with & s on the end.
Yep! YOU GUESSED RIGHT! That's the BOD for yer. Completely!
All just a question but considering Darcy has taken the role as part time / interim CEO and stated clearly that we had no plans to recruit a new CEO to save costs, then to surprise the market with a salary of £220k is disrespectful to investors.
I get the role needs remuneration and that is deserved but what are we actually getting as investors for such a high salary ?
Darcy on LinkedIn does not even advertise himself as employed by Cellular Goods , why is that ? If you are CEO and getting paid for it then you should be proud of that role.
Sales - incredibly poor
Cash burn - trying to be controlled but still not a lot left in the bank
Kingtide - great opportunity but we don’t know a lot about it really and it’s a start up with all the hazards involved with a new business
I’m thinking at the AGM this should be questioned vigorously
I’ve probably got it wrong Paul, I usually do. However, their adjusted loss for the year was £2,739,781. They had £1.7 4m 4 months ago, it’s not going to take long
What’s your maths behind that figure for monthly cash burn ? I’m struggling to get my head around it
£1.7m was 4 months ago. If they’re burning £200k+ a month, they have £800/£900k left. 4 months.
they're taking the ****!
750k in salaries for 67k of stock sold!
1.7m will be gone fairly soon.
No real surprises, £1.7m in the bank which is positive , skincare as expected is dire but we already expected that, it’s all down to Kingtide now which if they get it right will be huge so good luck
Darcy squeezed the CEO salary in quietly 😂, no issue with remuneration that’s business but he is being well paid now so it’s time to change the outlook of this company and push it on , good luck 😉
Possibly Kingtide are making this a new beast
Maybe start making cash 2024?
Darcy is doing well out of his side gig.
The company is months away from being wound up. With income (even doubled) £67,236 will not cover one of the directors wages or even its listing. With cash almost gone, it will not see out next year. In the next few months it will need to raise cash to keep going. Expect a fundraise real soon. That should more than half the share price. If it cannot get a fundraise away it is finished. Months left to trade. Expect Christmas to be dire and a realisation that it is time to call in the administrators. Its got one last hope, that Posh and Becks may purchase the company, after all it is probably only them who buy their products.
No one want to buy these products. There is not business here except giving their products to influencers for free. Sell before there is nothing left. The company will be wound up. It seems to have no sales to speak of and cash is almost blown. Damn. End of the road.
Not many sells: this tells me that this share has a liquidity problem ie. quite a lot of people sitting on their holdings long-term rather than trading. Maybe this is what is keeping the SP elevated? I am really not sure what the MMs are doing otherwise as I would have expected the SP to be quite a bit lower than this given the poor quality of the recent RNSes and continuing cash burn.
I am expecting a rerate tomorrow to something significantly lower, which will likely trigger a few stop losses on the way. Rollercoaster time, too late to buy (or sell) your ticket now!