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SIL3NT - Nops. Don't think so. This is probably legally conning shareholders .
Any legitimate way of taking them to court?
BoD are daylight fraudsters. They keep on issuing new shares and pocketing the salary and expense
Can we also point out that not long ago this company paid £5 million for a two bit stock alert website. Fair play to the guy that built it and had the fortitude to sell it on the back of a golden period for this style of site on the back of ps5 and xbox shortages.
He sold it for 2.5x what the market cap of this dog is now, we should make him CEO.
Just remember Midas. Top executives at top companies that make easy money doesn't always mean good at what they do. Try being an executive at Coca-cola you can't fail.
https://ofspace.co/project/athlos
Wonder how much this cost gfinity to develop?
I said on here after the 4p placing this was the time to sell and I think it went to over 5p....most of the long termers got out. Once a company like this discovers heavy dilution they start to rely on it instead of making a profit and 95% losses for the shareholders appear.
A fair punt at about 0.12 or so though. Hard to place more now so someone might buy the company...as they did with 7 dig despite 23 years of losses there. So I will be looking for a punt here with punting money only. No chance of holders getting their money back except by a risky average down. It can work.
Probably a fair punt at about 12 or .13
" Re-pricing previous warranties to 0.15p is another kick in the teeth."
doesn't make any difference ... whether they buy in a placing and/or from a warrant...same thing , ...both create a share at the same price
so we now have a placing at 0.15p, less than a year after a 1.25p one which was only 1 year after 4p.
Re-pricing previous warranties to 0.15p is another kick in the teeth.
The BOD need to get this moving now - GDM and Athlos look great, but they seem clueless as to how to make this company profitable
It is shocking that they now admit just how much more cash they need to get to a profitable business...and how they cant do it without partners...and the CEO just walks away from the train wreck....staggering
Well a 100% dilution is even worse than expected ....but.... I guess with the new 2.6 billion shares @0.15p ...that would be equal to 260m shares @1.6p ...which hides the disaster to anyone new to the s*itshow
I don't see why we would hire and top execs would join the company from Apple, Activision Blizzard, EA Sports, Future plc, if the company wasn't going places, plus a specialist to handle GDM if the company was going to the wall. It just doesn't make sense! For starters, it would damage their reputations.
I'm in at placing price.
Hasn't been a great ride here so far - but getting shares ar a material discount with no immediate danger of further solution presents an opportunity here IMHO
This is by far and away the worst part of this raise, all said and told the directors put in a measly 10k each which shows you how much they believe their own lies, charlatans…
“During the 2022 placing and subscription, the Company issued one warrant to each placee and subscriber that subscribed for one Ordinary Share at the Issue Price of 1.25 pence per Ordinary Share. The Existing Warrants were only exercisable for 12 months from the date of issuance, such date being on or around 04 April 2023.
The Directors recognise that the Existing Warrants are unlikely to be exercised based on the Issue Price of the Existing Warrants and the current share price. The Directors therefore believe it is appropriate to reduce the Issue Price of the Existing Warrants to 0.15p, being the Issue Price, for the remaining period of time during which the Existing Warrants can be exercised.”
In answer to your question I'm here and just as gobsmacked as everyone else about how a business with so much potential is in this position. Management briefings via RNS told a different story to what has unfolded. i.e. we were briefed via RNS that we were going to be in profit month to month this financial year. This was going to be a major milestone moment. We were informed at the 6 month stage that half year revenue was £3.3m, a 22% improvement on the previous 6 months (H2 21: £2.7m), half year losses were down to £0.4m, a 76% improvement on previous 6 months (H2 21: £1.8m loss) and following the £2.7m fundraise on 14th March last year GFIN was well capitalised, with a move in to profitability (All per guidance from RNS after RNS last year). The picture we were given appears to be the polar opposite to what has happened. If they had delivered - and that's what they told us they were doing - the recovery was well underway for a share price uplift. No wonder the CEO has gone but like many on here we have been let down big style. Lets hope the turnaround commences today as this could be a great business if managed correctly. The decision now is whether to average down....Good luck, Brighty
Desperate course of events, made by a company that appears to be on the brink. It had so much promise as well.
where is brighty and his 25p soon prediction lol
Subscribing shares that are worth less than confetti , is ridiculous and pointless ..Put the company up for takeover and do most of us a favour , prolonging the inevitable outcome is senseless
Think this company has run its course ..Time to let some other company buy the software, and maybe expand it in a business that is able to fully make use of its potential..
Feel sorry for you then fella , think all PI have been totally shafted by this lot
This sounds like the last throw of the dice if you ask me, as if this doesn't get the share price moving UP again, after initially going DOWN to the placing price, then nothing will, apart from a buyout. Hoping for the former. GLA
36.2% discount to Friday's closing share price. Bookbuild through Cannacord Genuity including warrants, and a GM has been announced as well, to pass the resolutions.
RNS announcement within the last 10 mins for a placing to raise £1.5m at a price of 0.15p per share.
I would think any placing ..would be around 0.2..But if Athlos is generating revenue of some kind but is case sensitive at the moment. So we are in the dark with that at the moment..Probably looking at quite a few 100 million shares again..
any guesses on placing price?
Maybe a takeover is on the cards ..