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Since listing on the London stock exchange in 2021, Burt has raised £9m. Which he has promptly wasted. No one is going to give him more money to waste.
i don't think it will go into admin, there was somebody prepared to back the company only 3 months ago at 1.1p. from looking at the price action i do think the next lot of funding will be circa 0.25. the number of shares in issue are still relatively low which is the only positive. the question will be then how quickly burt ****es the money up the wall.
I didn't like Burt's manner or the way he came across in that focus IR interview last month, it put me right off.
Slip slidin' away
Slip slidin' away
You know the nearer you're to administration
The more you're slip slidin' away
We all knew this was coming but the question is, will Burt knock the final nail in the coffin. I can't imagine lenders are lining up to fund the company so he'll need to get creative. This could be a half decent business with somebody else at the helm.
Morning Spank
Wise, I thought after the run yesterday it might recover today but like others all waiting for news of finance package. It’s wether you feel it’s time to go in before the heard moves
Best of luck!
Still waiting to see what happens Toplocks.
Where those buys yesterday?
I suppose demand is there at the right price.
hopefully its the same with finance - the demand is there, but the price?.....well that is going to be the sticking point. and will be extremely interesting....
otherwise...this is the end.....
Its not listed on AIM roger
From July last year. Does this mean if they can't pay the loan that the company is secured on , the Chinese investor ends up getting it.
Proposed issue of GBP2.2 million of 10% Secured Convertible Loan Notes to strategic investor WHI in two tranches of GBP1,466,666.67 and GBP733,333.33 respectively.
-- The net proceeds of the issue of the 2025 Convertible Loan Notes will provide much needed additional working capital to support the Company's plans for continued expansion.
-- The 2025 Convertible Loan Notes will be secured by way of a debenture which contains fixed and floating charges over the assets of the Company; security to be granted over the Company's wholly owned Singapore incorporated subsidiary; and a charge to be granted over up to 75 per cent. of the ordinary shares of GBP0.01 each in the capital of the Company ("Ordinary Shares") held by the Company's chief executive officer, Tony Burt.
If all is so well with the company why are the shares down 30% today and languishing at all time lows?
Burt is clearly a very difficult individual to work with and given his lack of managerial and strategic skills I think it’s a great shame he hasn’t gone instead of the intl ii rep.
Another AIM failure. This will be bust in another two or three months unless good sales results can be released. If sales were going well why would this chap have resigned. Think it’s all over myself.
If that is the case Toplocks, why does the share price keep falling to dramatically?
Hi 007
I value your opinion. I’m seeing the finance deal/ restructuring has already been done behind the scenes. A different company and therefore the board member no longer needs to be part of the board. It happens all the time. New finance deal, new board member. Watch this space, an RNS very soon imho
Hi Watty
Like you I’m in it for the long term. Wish I had some spare cash, I would really fill my boots here. This is just the very painful dept period a company has to endure to become successful. Let’s hope one day we will see break even and strong growth
510,000 buy.
Couldn't resist at this price.
The share price performance and board exit suggest the company is in a death spiral. Unless you view the collapsing share price and the sudden board resignation of the representative of a major investor as positive news. I suspect some on this message board might be in the grips of irrational exuberance.
Ohh not that again, give it a rest. The brand alone is worth the market cap, the US could be sold tomorrow as a separate company. Glass half full and all that.
Feels like the company is in a death spiral....
Don’t miss the boat Spank. There’s a few also jumping in. A nice 1mill buy, well done on that one.
Just topped up, couldn’t resist it. It’s increased my holding by 25% so worth a punt. Just need a finance deal and this SP should really firm up.
GLA.
I think I'll wait a while longer and see what happens.
A good buying opportunity eh
Oh dear.
INL were one of 2 strategic Asian investors. Its easy to say rats and sinking ship. I suppose its more likely its something more complex - as CLNs and debt is passed about and everything is getting restructured in complex deal that will obviously be of great benefit to shareholders.
While its easy to laugh at the Pepsi connection the company is pivoting more to the US so while m007j would probably fall off his chair if it happens I wouldn't rule out a new American partner. Granted the company is ever so fragile looking but the amounts necessary to prop it up are just not very big.