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I won't be bullied off this BB by you or anyone else. i was here before you, I'll be here when you've gone
I actually though for once you weren't going to respond, made me respect you a little. Oh well, have the last word now I can't be bothered with you any more.
"Why would I look forward to a relist that has a very slim chance of happening, "
The EGM was held and the resolutions needed to proceed were passed, Box ticked
The migration to Guernsey has been completed. Box ticked
Next stage is publication of the prospectus (which I imagine is already completed)
After that it's completion of the acquisition and re-list
So, 2 out of the 4 already accomplished, and no evidence to suggest the next 2 won't be
Yet you think we should believe you and your denial that it will happen?
With May going anything can happen, don't see this relisting before government and Brexit are sorted out if it is going to at all. I get your point though, fingers crossed.
There is still hope for the company regardless of how much we have in it in my opinion.
Those licenses were issued and will be renewed .
There is no reason why they wouldn’t be.
New licenses will not be issued but the existing ?
I haven’t seen anything written that states anything negative about existing licenses and you and I know that when making these decisions the dots and tees are generally well accounted for.
The Welsh government are not that stubborn or stupid are they ?
(I’ve already had this arguement )
I don't understand why you think you have the gumption to answer every poster on here with your black for white arguments. The overwhelming majority doesn't make a decision right, unfortunately AIM is riddled with PI's willing to pull their own pants down and bend over. GW would never throw in the towel at the first obstacle with the money and time he has spent on this, unfortunately for us he has spent so much time we are out of time to do anything with the Transgas 'assets'. Why would I look forward to a relist that has a very slim chance of happening, who in their right mind would invest in an overpriced asset with one years licence left to run and no groundwork done! Get over yourself before directing others.
ttaa
Did you read my post about where we are right now? The RTO didn't materialise before suspension. That leaves us with shares in a private company that has a few £k in the bank. Were you really prepared to risk GW winding up the company because he couldn't proceed to listing? I wasn't prepared to risk that, and thankfully, the overwhelming majority of shareholders weren't either. You've made your position perfectly clear, but you were obviously in the minority, and the vote didn't go your way. Time to move on and look forward to the re-list, and whatever it brings. Absolutely no need for snide comments about 'wage jockeys', or trying to tell us what a great businessman you are. Nobody cares, get over it
Waste of time moaning now 3rd, I tried to get a conversation going when I first saw the deal and argued with Fyoz for day's. Of course we could have rejected the deal and let him know why as the terms are too much weighed in his favour, he would have came back with a better offer for sure. As it is all the desperate dived in voting yes before they understood what they were voting for, well they will find out soon how costly a mistake it was. I can't blame them entirely, having made business deals myself with companies I have owned in the past I can see exactly what GW has done and the sly accountancy used to do it...it's a bit much for a wage jockey to understand.
"Only an idiot would vote for yes to that resolution, or someone impatient, or someone desperate for their cash at any price ?"
Bigotry . . .
The generic ********.
Nothing written on paper mind you, so I don’t have proof.
But you are all welcome to go by what he has been posted on this forum by this individual.
Anyone others who see things his way are also of the same generics, why it may even be a family thing, but I cannot possibly comment on that.
INFT should have been adjusted in value by it original shares in issue.
This is the reason why most invested here.
INFT should not have been valued by Gerwyn Williams Issuing additional shares to himself as we are shareholders and not just people that work in the company, if that were the case I would have no arguement.
Only an idiot would vote for yes to that resolution, or someone impatient, or someone desperate for their cash at any price ?
What other options were there other than to vote yes ?
Let the company go to the wall and hand out the cash in bank to shareholders?
No, Gerwyn loses his £500,000 and he would not let that happen folks, and because the rules are a minimum 26% he issues the deficit to himself at a notional value of .0,004.
Oh it looks great ! We get w three bagger ! Wonderful !
We shall see ?
Perhaps I was wrong about your bigotry as you seem to have conceded with your .0024 forecast of valuation on open, but this is still way off the mark .
I await to be furnished with your generic opinion in due course at your earliest convenience.
"It's agitating that you shill this"
I'm not 'shilling' anything. The overwhelming majority of holders voted for the resolutions and to proceed to listing. My views are entirely my own, usually made defending an accusation from another poster. To think that I have any influence over the value of this investment is farcical. I have no doubt the real ramping and de-ramping will begin in earnest when we're finally trading again, but until then it's nothing but banter
If you can't stand the heat . . .
"Faheem,
Cash 31Dec 2017 £744k
Cash and cash equivalents 30Jun2018 £620k
6months Cash burn ~£200k
End of Jun 2019 Cash Balance should be ~£250-300k max
RTO costs???
Cash call incoming IMO"
Alexios, I think you need a new calculator. £744k minus £620k is £124k not ~£200k (assuming your figures are correct). So end of June 2019 should be ~£372k if cash burn is consistent
It's not an RTO it's a new listing on the main exchange
Still never let the facts spoil a good de-ramp . . .
"You are the ultimate bigot."
Definition of bigot. : a person who is obstinately or intolerantly devoted to his or her own opinions and prejudices especially : one who regards or treats the members of a group (such as a racial or ethnic group) with hatred and intolerance
I find it quite amusing that the person who is constantly calling GW greedy and a fraud, and is unrelenting in his own prejudice, is now labeling me a bigot
Fyoz knows he and I hold around the same no. of shares but we see things completely differently.
I hope Fyoz and all those that still hold shares in inft make a packit on relist ... to all the begrudgers .. those that sold out before suspension or have open shorts on inft can sod off !
It's agitating that you shill this, still deep down knowing we have had a toasting and few positives, if any remain.
You are the ultimate bigot.
I’m sure you’ll find another way of explaining that.
I see what you have said and agree to a point, but it’s generic waffle about facts on paper and not really anything to do with the reality of what happens next.
Again, you swerve the issue TO HIMSELF of INFT shares.
Sod the buyout etc etc,
Those shares could have been issued to the share holders or even revalued shares already in issue ?
That’s what should have happened really and it would not have affected the resolution rules about his buyout waiver.
Shafted !
No none if that.
.
Faheem,
Cash 31Dec 2017 £744k
Cash and cash equivalents 30Jun2018 £620k
6months Cash burn ~£200k
End of Jun 2019 Cash Balance should be ~£250-300k max
RTO costs???
Cash call incoming IMO
Thanks guys
As per PHC, Migration is done and now working towards admission, no time frame given.
Completion of Proposed Migration
By 25th May 2019
Publication of prospectus relating to the Proposed Admission
As soon as practicable following completion of the Proposed Migration
Completion of Proposed Acquisition and Proposed Admission
As soon as practicable following completion of the Proposed Migration
anyone got any idea when this will be relisting ?
Yes elcap you're right
They had to calculate an estimated value of Transgas so that GW could be awarded sufficient INFT shares for the 26% that INFT are acquiring. Presumably along with his advisers he decided that 0.4p was a reasonable notional value. I think he has short changed himself because I doubt they'll hold at that when we recommence trading. Or perhaps he thinks likewise and is prepared to take the hit to achieve a fair value for the 26%. Whatever happens he won't suddenly have £millions in the bank, just a huge amount of INFT shares, plus 74% of Transgas. So it will be in his best interest (and ours) for him to develop the true value of Transgas and hence INFT
At the moment INFT is a private limited company and has around £700k in the bank, ie, the true value of our shares are approx 0.04p based on that asset value, or about 28% of the closing SP. The closing SP of 0.14p gave us an MC of around £2.45m, presumably based on the cash, the value in being a listed company and the potential to acquire a slice of GW's licences. Once we de-listed a lot of that value disappeared (the portion assigned to the value of a listed company), and if the company had been wound up we'd have received something less than 0.04p per share after administration costs, because all potential value would have gone and we'd be valued purely on the cash
When we relist we'll each have the same number of shares as before (assuming no consolidation as part of the issuing process), yet those shares will now be worth much more because INFT, instead of just having £700k in the bank, will have the remainder of that cash, plus the value of being a company listed on the main index, plus 26% of Transgas and hence the PEDL's (whatever they're eventually valued at).
What's not to like?
What am I missing?
GW will have a fixed number of shares. These have been given awarded at a notional price of .4. He does NOT have £10M worth of shares. Made up of whatever number of shares add up to £10M depending on the SP. He has awarded himself X number of Shares, if .4 is taken as the SP then they total £10M. However if .2 is the actual SP then he only has £5M. He doesn't get to say "I am owed £10M, therefore my Shares are now X xs 2.
He has valued the company at Y. X is a proportion of Y. If Y goes down then so does the value of X.
If I am wrong I apologise. Not looking to start a fight with either side of this argument, just putting my view across. I am happy to be corrected.
(To me, if there is an area of complaint (and I am not complaining) it would be around the number of shares GW has issued himself, not the notional value of those shares).
"In every comment you make, you REFUSE to take into account the £10,000,000 worth of shares @ 0.004 "
Wrong again
Pre-suspension INFT hap approx 1.75bn shares in issue, SP was 0.14p, MC = £2.45m
On re-list there will be approx 4.44bn shares (with the 2.69bn new shares issued to GW). If all the shares are worth 0.4p our MC = £17.8m, but that would then value Transgas at £68.3m, which I believe is unlikely
If the estimated value of Transgas is indeed £41m, then INFT being a 26% holder will be worth £10.7m (excluding the cash in hand which will probably be used up in listing costs) and so each share will be worth 0.24p
If the valuation of Transgas is fair and the SP holds we'll have made a 71% gain on the closing price
Yes we will all have been diluted but we'll be shareholders of a much bigger company, simples . . .