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What a crazy, very unfortunate 'pickle' we're in; to put it mildly!?! Suspension come Monday looks a dead cert I'd say, whilst shennighams & desperate efforts are made to solve this mess, in the hope to come up with a solution & continue trading in the future.
TB to come out fighting, two falls, a knockout or
a submission to decide the winner. Apologies, but the weather's finally nice & some levity needed to compensate the situation!
Who knows, clutching at straws maybe but could the Chinese INL & last fundraisers Galaxy etc come to a compromise, negotiation, the former be paid off partly, & go to own the Asia 'arm' of East Imperial. And maybe even some future fortunes( % ?) of the USA to compensate if ever that becomes very successful.
And the further raise by way of existing " large shsreholders"
I've listened to that interview by TB a month or so ago & his actual words are, as previous posters have suggested are " A major group of shareholders that remain very supportive, large shareholders, their preference as is ours, to further to continue to explore...." 4mins in on interview & later " great strategic partner in China there now starting making some headway with Galaxy Entertainment in Macau..." etc
Could
Daft question but from what I've read these notes aren't due for redemption before 2025 so how can they suddenly want their money?
Why wouldn’t this be bought out ??
Perfectly put MM. What happens next all depends if Burt is involved with pulling the rug. I've always had the impression that Burt had regrets about being listed, interestingly this question was asked in the last interview so clearly I wasn't on my own. If Burt is involved (I think he is) then they will let this fall into admin and we know the rest. However if this is a INL trying to kill the prey whilst it's injured then Burt will obviously want to put up a fight, you aren't going to simply hand over your baby. Can Burt find the money? There's no coincidences here, the Director leaving and that funding RNS from Thursday.
Top, sorry to hear your situation here, hoping you can recoup losses in good time if that does materialise.
Key point here will be if TB has reached an agreement with INL behind scenes.
If he has, IMHO this is finished. If he hasn't and there's hostility between the two parties, then what's to say they can't get raise sufficient equity.
In his last video he mentions this has some 'large investors' and seems reluctant to carry out any dilutive fundraise, preferring additional gearing which is of course a massive risk to a business like this.
If what he says in his videi is true, i'm sure those same investors will be contemplating to treat their existing investment as a sunk cost, or stump up financing to give this business the level of funding it needs to finally reach profitability.
GLA, AIMHO, DYOR.
Morning xviolet, thanks for the kind words. No one else to blame only me, I left a fundamental principle of multiple low cost shares and was drawn in by the potential of the company. I still can’t believe Burt will take this lying down. Desperate times call for desperate measures and if he’s genuine he will find the money to pay them off. What’s 2.5/3mil in business. I feel a dilution is possible, additional shares allocated for the company to survive. I can’t see Burt throwing away 75% of his holding.
I see a short term suspension of shares very soon which will afford time for someone to time 3mil down the back of the sofa. Here’s hoping. Have a great weekend all, it’s only money
Assets will viewed to be worth the same value, if not less, than the debt of circa 2.5million IMO.
INL's notes were secured on the singapore incorporated operating subsidiary and also all of TB's shares.
Given his shares look like they are worth less than toilet paper, the singapore operating subsidiary must be the crown jewels.
What else does the company own that should be taken into consideration? There must be something as why would TB need to pledge his shares as security?
In the interview only a month ago Burt made a statement that the Chinese were supportive. The timing of the RNS yesterday was no coincidence, a strange RNS to release if you ask me. We know the company were in discussions to raise funds so why release a "nothing" RNS. What's done is done but you can't help but feel this is a big stitch up with Bert involved, I have good friends with significant holdings and it makes me sick to the stomach to think this has been set up by the company. What are the assets worth? Hopefully some funds get distributed to shareholders.
This evening's RNS suggests a war between TB and INL. Its not his first either.
I just don't know if he's thrown in the towel or playing games with them.
I very much doubt Burt will still be there if the Chinese end up buying it. He's proved beyond all doubt he's not a capable businessman. My guess is - a wild one I admit - that the recently departed Chinese sales rep will end up being appointed the new CEO or head of an Asian arm of what ever EISB ends up being called. Probably a million miles off as usual. Just relieved I didn't throw more in here when the sp was hovering around the 2.5p only a few months ago. Since early Jan it is down over 90%. I always live in hope these minnows can survive and stick two fingers up to the establishment but they rarely do. When there is something worth having the iis get it by hook or by crook. In this case the inept CEO played right into their hands. The Chinese got their man on the inside and have seen this collapse from a bird's eye view. They probably knew they were on to a winner over a year ago.
What a bugger. Only hope is they actually buy it out but I don't see why they need to bother now. They'll end up being given it.
Sorry to hear that Toplocks. I know those are the breaks but they never feel good. As you say live and learn. I know I didn't lose much this time but it still hurts - feeling cheated. Feeling stupid. But actually I don't regret buying this stock - I only buy stocks I like. And I stick with that. I've been self employed for years so I know how hard it is to get a business going, that why I was a supporter here. Anyway, money comes and goes. And as you say, Live and learn. And takecare.
sorry for those losing money but i made my opinion very clear here for last year and a bit. they had failed to change tact to higher volume lower margins with a cheaper product outlook. this cottage style mantra of ultra premium around the world without a lot to **** in was a dreadful business plan. burt has been at this for nearly 10 years prior to coming to uk market to milk it. problem is he was 10 years too late and uk market now doesn’t play ball like it did.
you cannot say you will possible become profitable in a year or so when your whole business plan revolves around investment for growth. it will never make a profit on this current business plan and i said that ages ago.
it was doomed unfortunately to ever succeed when it started to lose mcap it couldn’t raise to carry on. i hasten to say covid shipping prices did kill it quicker but it was going to die.
fevertree cheaper and frankly nicer!
aberdeenman again finds another howler of a company lol 😂
The whole thing stinks. The fact that this dropped yesterday suggests insiders knew, Burt covered himself by releasing the funding RNS. He never wanted this on AIM, the last interview gave that away. Why pull the trigger now, a day after the company announced they're still in talks over funding.
Spank.theMonkey
Appreciate your reply. Not saying it will happen, but I have been here before in another situation ironically around 10 years ago. After absolute pain for 4 years not only got initial investment back but also profit. As I said it may not happen here but will see how this plays out.
As I said. Chinese will end up owning this and Tony will probably still be there.
Inevitable situation really, especially back when the death spiral finance was issued. There was no way existing shareholders would ever have a part of this as a profitable, cash generative business. The new owners will though IMHO.
Hi Spank
Yes as deep as the titanic I’m afraid. You live and learn. I’m still hopeful there may be some rescue package so as they say it’s not over till the f*t lady sings, although I can hear her warming up in the next room
Farewell to my £4.9k - and that was when the share price was at .5p.
Burt is a stupid see you next Tuesday. Oh well another one down the drain.
Spank...
it was worth a small punt....I've seen worse. And made and lost money on worse.
anyway its possible TB is bluffing his creditors....like putting a gun to his own head
not a great tactic but lets see how it all goes.
Toplocks - I hope you're not too deep in this, all the best.
Countingcards - absolute gift, hilarious.
East Imperial plc, the global purveyor of super-premium beverages, has today received a Redemption Notice from INL Investment Limited ("INL") issued in connection with a Convertible Note Instrument dated 7 August 2023 (the 'Loan Notes') and a Deed of Share Charge dated 16 October 2023, first announced on 17 July 2023. Under the terms of the Redemption Notice, INL seeks immediate redemption of its Loan Notes totalling £2.2million, together with all interest due under the Loan Notes.
The Company is unable to meet this redemption liability and therefore the board is now in discussions with professional advisors in connection the Company's possible administration or liquidation, and with the FCA regarding the potential suspension of trading of the Company's shares on the Main Market of the London Stock Exchange.
Much darker in the end!
farewell to my £400 I think
shame.
Can this be forward selling at this price ? Unless of course a placing will occur at .1p
As for the idiot who calls this an investment project... I've been here since just after it was listed and have seen 90% of my 'investment' wiped out in just the last 6 months by Burt's inept handling of this business. He's been a car crash for this company. No two ways about it.
Price drives narrative. Yep. spot on. Sp is on the floor and going to zero so guess what, major shock , retail investors have a moan on a bb about the CEO being crap. Burt needs to step down immediately and the company needs to find a new and respected individual with at least some track record of being able to sustain professional relations longer than 5 minutes.
Personally think it's too late now and that this is over.
Forward selling is my guess, the RNS yesterday was pretty much stating that a book build was underway. IF they can pull off a placing then it gives them a good chance. Hit B/E and this could turn into a little gem. For clarity, M007 has been taking this stock down for months and would to see it go to the wall.