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Where did you find the info that they are in "advanced discussions" with BVT with regard to funding?
I assume your point about the rule 9 waiver is your opinion or have you seen it on any financial press?
Regards
Still no operational or accounts news Hiring staff - but no CEO/CTO Website not functional Online support available Mention of future offering and rebranding on job spec Should be out of money very shortly In advanced discussion with BV Tech for additional financing BV Tech takeover using the debt as leverage for a rule 9 waiver again, could be on the cards?
I've tried again contacting the company through live chat, as the don't reply twhen Ive contacted their Investors dept....not very useful as you can see
Hi, Im still waiting for a reply regarding below:
" Cyber security group Defenx said it was talking to its majority shareholder, BV Tech, about securing more funding after failing to win customers at an expected rate.
'Further to the company's announcement of 6 April 2018, the conversion of new corporate opportunities into firm orders is taking even longer than previously anticipated,' Defenx said.
As a result of the delays, he company said it only had sufficient capital to continue trading through September.
'Accordingly, the company is in advanced discussions with BV Tech S.p.A, the company's majority shareholder, to secure funding to assist the company in meeting its working capital requirements,' Defenx said.
The company was still seeking to finalise its audited annual accounts for the year through December 2017".
Can you comment?
Defenx typically replies in a few minutes.
Give them a way to reach you:
Operator avatar
You'll be notified here and by email
I have already done that, no return e mail or call
Hi,
this is the technical customer support. You can ask information on the matter you required to this contact page:
https://investors.defenx.com/contact
Regards
,
Help Marco understand how they’re doing:
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No reply from my phone calls, ill try posting on Linkdin, or faceboock or Twitter, see if I can get some feedback there. Bad way to treat investors
Good find, very encouraging, two specific bits I think highlight this in particular: “A cloud business offer is being rolled out in UK targeting SME market.” “contribute to the company’s growth after it has re-branded and restructured”
Maybe they will post their Accounts and get un -suspended
And 139 applicants for the vacancy too. This is good news. Evidence of being operational, a plan to rebrand & reorganise and the vacancy is in London.
The role "produces the annual and interim consolidated Group IFRS statutory accounts and disclosure footnotes" so published accounts might be a while yet.
maybe all is not lost
Thanks for that, Reddone. Good spot.
The advertisement says: "Reporting to the CFO the Group Financial Controller position is an opportunity to contribute to the company’s growth after it has re-branded and restructured, ensuring that financial reporting to executive management is relevant and timely whilst maintaining the efficient performance of the accounting function."
Very encouraging.
Sorry, why advertise a position. If they Weren’t planning on continuing to trade,
Just been on LinkedIn and a position as Group Financial Controller was listed 11 days ago reporting into the CFO.
Why would they advertise such a position if they were planning on contouring to trade and therefore having the ability to do so?
yes , still trading. peeps on live chat are unaware of the troubles the company is in. Investor relations dept don't return calls.
Your right this isn't a democracy its a vaguely moderated bulletin board on the Internet - if you don't like what people say you don't have to read it - you certainly don't have to post (and I'll use your own words) "then **** off this forum as your input has no value here"
You made a mistake and put too much into this dog of a company (as did I) - you shouldn't be taking your frustrations out on others - try being an adult and accept its your own fault and stop giving others hassle and abuse for your failings
does anybody have any knowledge whether in fact this company is still trading ?
Oilboil do you know how patronising you sound? This forum is supposed to be for serious investors.... not a chit chat board for people with 500 quids worth. And I'm sick of people being smug and posting about how clever they are. These are the same people who post photos of their cars as a profile pic on Facebook basically saying "I'm more clever and better than you" well no, I'm not having it, if you're not a serious investor with a serious stake, your voice, concerns, and smugness will not be gratefully received by me. I'm not taking anything put on anyone.... I'm just trying to keep it real. THIS IS THE AIM... NOT A DEMOCRACY everybody DOESNT have a right to be heard.
CaptJack - Wordog is entitled to his view and good luck to him for having gotten out. I too haven't got buckets invested in this so whilst it will hurt it is the risk we take when we invest - we win some, we lose some
Don't take out your disappointment in yourself for investing more than you should by screaming and shouting at others
Before you say anything smart about "you didn't invest more than you should" - just remember it was you who said this could ruin you - that suggests risky over extended investment. Never a good idea on AIM (or any single share really).
Half way through September and they have still not updated the Market. Shoddy management - no posted accounts yet, no return calls, Im a bit speechless about the lack of professionalism by the BoD.
"I don't hold many here any more" -why do we need to know that?.... do you enjoy rubbing our faces in it because you were so "clever" to get out sooner? Some us of could be ruined off this, so please stop beig smug! If you dont hold any then **** off this forum as your input has no value here.
“Further to the Company's announcement of 6 April 2018, the conversion of new corporate opportunities into firm orders is taking even longer than previously anticipated. As a result of this delay, the Company believes that it only has sufficient working capital to continue trading through to September 2018.” “Accordingly, the Company is in advanced discussions with BV Tech S.p.A, the Company's majority shareholder, to secure funding to assist the Company in meeting its working capital requirements.” Well it’s mid September........
I don’t hold many here anymore so not the end of the world if I lose it, but still frustrating.
This is going to be painful
I don’t completely disagree, but why bail them out last time?
27th October..... Big news release.... Bacccardi breath offers us 25% of what the shares were worth when we got suspended.. . We are on the fat whale's menu but he isn't ready for his main course yet! And I think he will probably try and run off without paying the bill... you think his guppie accountants are working in our interest? Ha don't kid yourself. They will be lining their own pockets whilst trying to get us to part with our shares for little or no money. All illegal, smoke and mirrors and shithead accountants.....as predictable as psychic Sally in big brother! DONT SAY I DIDNT TELL YOU!
No news, they don't take or return phone calls. Pretty unprofessional way to run a company.
Looks like this is a dead cat
Should be running out of cash about now, if they can’t trade the. They can’t do a placing, only other option is a loan from BVT or low ball buyout offer which factors in the debt and needs a rule 9 waiver. Obviously the other outcome is administration, still no permanent board appointments, even my optimism is wavering now.
They are run by cowboys.