Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
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I sold out back in October at a significant loss. I want to get back in, but I’m not confident about the management here.
I hope I’m wrong and that you LTH are able to claw back some of your losses. I might be back amongst you soon. GLA
I would stay out... less risky options out there.
Please take a look at the share price chart. It is 100% in a downward trend
Agree therein lies the issue. Clearly some long term bulls have gone all-in at the eleventh hour to recoup losses which is a big call for sure. The bottom line is the business is still losing circa £500k per Qtr on current revenue. The £2m logik repayment will be in and out pretty quick. £650k straight out the door and the rest to cover ongoing losses from operations.
It still leaves them with over £5m in debt to service/repay with no visibility as to when they can ever achieve break even. For sure MC of £3m seems crazy low given the tech but its only low if one can trust Mgt to deliver for PIs. My instincts remain that with a record numbers of companies delisting from AIM, DP will follow suit in due course. The plan was always to covert the £5m Riverfort debt but SP collapse prevented this. I see a deal being struck with the relevant parties to get to the 75% voting rights needed to take this private for next to nothing. The pivot has come too late in the day for me.
A shed load of warrants out there and lock-in periods ending in June will continue to put pressure on the SP in the meantime.
I've looked. Trends have an end point. At the end of a trend, there is often a reversal. Rerate incoming.
I,m afraid Management buyout was always the endgame here when Altair planted Palumbo as CEO.
PHE is looking good for the future
Absolutely shocking what those clowns have done to this company. I have to agree I see shades of VLS here, I lost alot over there. The thieving directors blew all the placing cash 40m plus on lifestyle with very little going on RnD. Share price collapsed , partners pulled out, ended up going for a fraction of a penny, then bought up by the partner that pulled out( as part of a consortium). Massive buys went though in the final days slightly above the offer. That I assume was to get enough shares to 'win' the vote to go private.i genuinely hope that doesnt happen here,but ignore these warnings at your peril.
Yes, but it's down to the cost of living crisis, this share slide. Haven't you noticed all other stocks falling 99%
Palumbo has now thrashed the shareprice 98.5% lower that what the previous CEO was given the tin tac for .
Palumbo needs more time and money. 50 million didn't touch the sides!
This is now all about management trust and that Palumbo and team has not always had a devious plan. If they did they could be reported to the SEC and potentially go to prison if it did play out under nefarious circumstances. They have extracted £50m from private investors or £40m revenues etc but working with, what looks like, a a backroom of snakes who simply dump stock driving the price further. I cant imagine Verde will happen now since Altair just got a boatload of warrants for nothing. Can someone explain why when you make a loan that will presumably receive a interest payment that they appear to get £180k of free warrants that at these levels are close to 10% of the company? Was this for the £200k advance that we still need to pay back or what is this for? Palumbo for the record has a chance to explain to investors his long-term plan to grow the company as a listed company and he should do that. if their plan was to always take private then really the best strategy of all investors is to keep on buying and build private investors stake in the company to 30% collectively as at £2m market cap this is ridiculous. I am aware of the £5m debt now but surely we have Idex and so many other projects due to come in and this is really very low debt for this type of company. on the one side i am very confident but on the otherside i am not trusting DP in his intentions.
Just come off an investor meeting with another company, who's CEO is the complete opposite of Palumbo, when the topic of funding arose he said "The worst thing a company can do for funds is to get in bed with a pit of snakes that demand a discount, sell the next day and ride the warrants". It appears that Palumbo wasn't paying attention on that day of CEO school!
I just hope the new versions of Andii and der sack didn't manage to persuade anyone to top up or take the plunge here recently during palumbos latest 1.2bn pre consolidation dump RNS yesterday.
I just hope the comments of FJ and C909, which are totally unfounded, based on lies and entirely self serving, aren't discouraging anyone to invest here. Unbelievable value now. Basically free money
Its becoming evermore difficult to keep remaining positive about this POS of a company or BOD.
Fill yer boots then @Try
You've never posted a positive comment here, so don't play that. There's plenty of us which are positive though. Anything and everything can change. Very quickly too.
TryTryAgain: Was this comment about me?
Rest assured the one and only post I have made on EQT was on the 19/12/23. My comment being " I can still get quote on IG"
Why should we post anything positive, revenue is clearly far short of break even let alone cash positive and with no contract wins and warrants due to flood the market come 1st July do pray tell where are the positives? Even the year ends will be a car crash there are no positives in the short or medium term and this is clearly not going to be the bottom. The market is tired of constant dilution just to keep afloat and will only turn when they start generating enough cash to not have to rely on equity raises to keep the lights on.
My £8K invested due to outright misleading literature and board lies now sits at £90, and I'm only holding now to sell at a loss when I need to reduce my capital gains bill.
All these rampers, are you just completely ignoring how this business has been run over the last few years. Yes they have pivoted but they were far closer to being cash positive when they were raising a couple of years ago, you can talk about improvements but they need to be either Transformational or large in number. It's May and they've secured zero, zip, zilch in contract wins which their own literature highlights is essential for the new model to work.
I will be positive when it looks like this isn't a dead duck, but the YE's will highlight to the market why they still need external finance to continue, and without repeating but this is fundamentally important the business is not a going concern without external finance, anybody with eyes can see that from even the last update. No auditor in their right mind is going to be able to say that this business is or will generate the revenues or have the reserves to continue for 12 months hence the logik money is essential and equally why Verdes is as well. The clues are there they need working capital it says it in black and white. All these financially illiterate rampers trying to hoodwink buyers. Look just accept if you bought in you've fallen into the same trap we all did just years or months later.
For me to recover my capital invested here I need a shareprice of 77p, so it's never going to happen and the goalposts keep moving as they keep issuing more warrants.
No one is investing in green tech. Oil companies are cash rich because of massive investment by funds.