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Batm, are you really that dim or lazy that you haven't read news releases, notably most of last year, even this year; they have a team picking up venues in the U.S most weekdays, as mentioned on X( twitter) And I'd have thought not all new additions are mentioned too. And APAC has been mentioned in recent news releases too!
I said it looked like it was heading for 0.5p. Not far off now. Shortly after Monday we might hear what the further placing price might be . It's anybody's guess really 🤔🤔 Anybody 🎯
Is it just me or are they just adding one bar/restaurant at a time? Seems a bit ineffective if they are looking to become global and they just have one person in the US and one covering the whole of Asia. Has TB annoyed all other distribution routes?
If you read the RNS properly you'll realise they only had the ability to raise a small amount more on a non pre emptive basis, so to raise substantially more would have required going to existing shareholders, a more costly and time consuming exercise. Clearly additional funds could have been sought say last summer but at that time the directors obviously were working towards breaking even in H1 2024, so didn't think additional funds were required. Keep in mind that any additional funds at that time would likely have been dilutive as well. Post Xmas there has obviously been a discovery of a hole in the finances, hence the FD getting pushed, and this definitely should not have happened if everyone had their eyes on the ball. Tricky with a streamlined team and the stage the company is at and we don't, and probably won't get, full details on exactly what has happened. Short term there is likely to be quite a bit of dilution, especially when the CLNs convert as well (assuming they do) but long term i still see a lot of value in the company. Talk of administration, and a buyer waiting for this is silly, especially since the business would likely be split in two with the Asian side going to the CLN holders
At. 575 share price wise will not be easy raise, why not raise more money when initially raised, somethings not right, quite clearly having issues getting money raised, GL.
The 2nd February RNS stated the finances quite clearly; the ÂŁ325k raised a couple of months ago is sufficient until April & the next raise is intended to see them to profitability later in the year.
May hear more this coming GM on Monday 19th, also stated in the 2nd February RNS
The mentions of administration by some is absurd & ridiculous!
Placing will provide the Company with a cash runway until April 2024. 2 more months then what another raise, looks doomed too me or am I reading this wrong.
The brand certainly has value but only in the hands of a new CEO with a new marketing strategy. Otherwise the brand will continue to be loss making for another decade (I remind you that although the company listed in London in 2021 it has been going and loss making since 2012 when Burt founded it). I am not sure why anyone would pay a premium to the going share price. Surely it would make more sense to allow it to go into administration and then buy it from the administrator?
M007j .... I would disagree; the brand, and the distribution agreements/contracts they have in place do have value. As such, I see this as both having potential in its own right, and the brand being very vulnerable to a bigger player taking it out at a premium. I’m therefore primed to jump back in. At these low prices, I consider it well worth a small punt for these reasons. I’m already burnt here though. It’s risky, I’d agree.
I don't see why any investor would get involved in a fresh equity raise by the company. Even at 0.5p. Not with Burt still running the show as CEO. Since listing in 2021, the company has raised just under ÂŁ9m. And yet it remains loss making and annual revenues are not any higher than they were back 2021. This is inexcusable!
I think it was Einstein who said "Insanity is doing the same thing over and over again and expecting different results". Are investors really going to give Burt more money to carry on doing the same thing. The company may need to part ways with Burt if it is to raise the money it needs to keep going. And the new CEO will have to come up with a new marketing strategy. Because the existing one is not working.
Bad day so far . A couple of million sales at 0.54 , yikes. Good news is that Allenby managed to get a placing away for Fab at only a 6% discount today, so 0.5p placing may be possible 🤔
M007j - someone somewhere somehow would know if sales figures were good and the sp would not be down nearly 75% in just the last month.
Another statement from Burt with no financials or figures. Just many words. Soft drinks is a volume business. So what were volumes for Q4 2023 vs 04 2022. Burt does not say. Why? Is it because volumes are so strong and he is a meek man and does not like to boast. Or is it because the numbers are not very good at all? And it is better to hide behind vagueness.
Burt will be desperate to try and get the sp higher before doing another raise, surely?! God forbid lths get shafted even more attempting a placing at a discount to current share price levels.
How long has it been since the CEO actually put some numbers together for investors to scrutinise?
Sales figures are what are required but for some reason BURT just cannot or will not commit them to print. hmmm
Okay, fair enough.
Establishing the Company's US base and distributors has taken longer than planned, and with sales in China growing slower than expected, the Company's cash flow break-even point is now expected to occur later than anticipated. Therefore, the Company requires additional working capital to finance operations during 2024. The net proceeds of the Placing have provided the Company with a cash runway until April 2024.
1 million buy this am....
Maybe someone has some shares left they want to dump? Try and get us all excited with a buy...get the sp up...and then...well. we shall see.
I’d read the second of the two 2nd Feb RNS’s before committing
I thought they had just done a fundraise on 24th January at 1.1p. Have they said that they need to do another?
Why not wait till after the fundraise?
Unless you think they are going to raise at 1p. Or 0.75p.
Today's RNS is not showing here so I will post a link to this:
https://www.investegate.co.uk/announcement/rns/east-imperial--eisb/continued-global-account-wins-in-2024/8034346
This was trading at 3p - 5 times higher than today - just a few months ago and business has continued to improve, including in the target USA market. M/cap is currently just over ÂŁ2M.
Absolutely, sales and margins improving. Wish I had some spare cash I’d be piling in. Nice 1mil buy, good luck
Possibly - even probably.................
Is this worth a punt?
I said it is possible that there is manipulation - and it is. If you think it’s not possible then you’re ignorant. I have nothing to substantiate, but those kinds of things are quite common - it happens all the time in micro caps.
It makes no sense to raise such a small amount if they will need more in two months. Even if they couldn’t get more straight up from one investor, they haven’t even asked the existing shareholder base for support on the basis that profitability is en route. Why not ask the existing shareholders before destroying the share price (which was 4x this level a month ago). The fact that the FD has left simply adds to this suspicion.
Maybe they have trade receivables incoming that will allow the 325k to see them through - which would make recent chat about issuing new shares misleading (and the mystery new investor will make a great return). Maybe they have no cash and low sales, which makes the CEO’s recent statement that profitability will come in summer misleading. Either way, there is someone not telling the truth - but this doesn’t matter a it is easy to just justify such lies with statements like “our forecasts were too optimistic”.
in any case, ask why we have a new mystery shareholder that just dropped £325k into a company that is being portrayed as going bankrupt at the end of this quarter in the form of shares that they will have known would plummet after the announcement? Something doesn’t add up.