Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Nothing, the SP is simply finding its way back to wear it was 2.5p-3p range before the smallcapprick /Stock Tracker / TOP AIM STOCK (on twitter) and his alise decided to P&D the hell out of it last week...IMO it will keep declining until formal RNS with positive news is released, you just gotta hold on for the long run or sell if you don't want to take that risk.
What's going on this morning...bit of a sharp decline in the last few minutes
So in a nutshell, FLFL & Kishore Biyani did not fulfil their side of the deal. They got their technology & platform from Koovs, they put Avni Biyani on the Board & are now blaming the RBI when they had all year to pay the money that was owed to Koovs.
Personally, I would like to see a clean break from FLFL, but I don't think Koovs could afford the legal fees to fight this. Could take years to sort out in a country like India.
They just do what they want in India. The CFO Robert Pursell REPEATEDLY mentioned that both deals (the 15p & blended deal) were legally binding. Biyani & co are just sitting there laughing knowing that a Micky Mouse company like Koovs run by clowns have absolutely no sway in India.
It has been nearly two months since the deal was stalled & still nothing!
With the RBI having thrown a spanner in the works & FLFL having not provided an alternative solution thus far, Koovs must now go ahead with alternative plans.
I believe that there are only three financing options now.
Money from outside of India to provide a placing, keeping FLFL on board.
Money from outside of India to take control of FLFL stake as well. By now, 18 months down the line, Koovs must know if FLFL are bringing anything to the table.
Another loan to get Koovs through to the next placing..
Personally, with this delay, I believe that there is a lot of legal wrangling going on behind the scenes.
Opening three stores in 18 months was quite pathetic & Koovs did look to keep an arms length from FLFL. We don't even know if Koovs utilised any of FLFL's warehousing, logistics, manufacturing etc
Koovs needs to release the mother of all placings pretty soon...….
Looking at this years FLFL Investor presentations & absolutely no mention of Koovs. Lots of mentions of their other brands esp Brand Factory, that is doing rather well using Koovs platform & technology.
https://futurelifestyle.in/financials.aspx#parentHorizontalTab2
The last significant mention was in the 4th Feb presentation FY 2019 which was a pdf from Nov 2018
https://futurelifestyle.in/Admin/pdf/20190204_Investors_Presentation.pdf
With the way FLFL have messed about with the funding all year (missing the March 27th 2019 deadline), I am seriously concerned about their commitment to the whole deal.
It has been nealy 2 months
Hi Putneylad,
I just created a new Twitter account. Just want to be anonymous. Thats me in twitter.
£250K placing at 28p was the real lock here. I think that was the lock placed by FLFL. Koovs could have given options and explanations for that £250K placing to FLFL as well.
For FLFL to take over Koovs at 28p for the remaining 75% it only takes £80 Million. But I really dont know if thats the plan of Kishore Biyani and even if it is their plan according to the RBI it is not allowed at ATM. I am sure for Amazon it is peanuts. It won' be tough for american companies like Amazon or Blackstone to invest in Koovs which is a UK company. We need to wait and watch rather than dreaming for takeover ATM. I am not sure if Waheed ALi will giveup at this point of time when everything has improved. For everyone including Waheed Ali it is easier to sort out the funding at this time when Koovs numbers are far more better. This company is improving in all numbers ATM except that its still running in loss which could take some time to break even. Once it breaks even it could be a replica of ASOS and Boohoo. If we noticed ASOS and Boohoo, both lost nearly 80 to 90% of its value after listing but managed to recover and then moved above its listing price. I think Koovs is exactly at that moment of its low. Waheed knows very well that this company needs some funding to keep it live for atleast another 2 years when it could turn profitable.
Billie, the RBI ruling regarding 'round tripping' where money leaves india (FLFL in this case) & finds its way back in (via Koovs), has totally scuppered any further funding from FLFL.
There is no way of getting any funding from India whilst this is in force.
The only alternative mechanism is by way of getting money from one of FLFL backers (Blackstone, Amazon etc) from outside of India.
It has been nearly two months now & surely Koovs & FLFL must have an idea if RBI are going to shift their position.
Personally, I think we have to look outside of India. The problem is that every single shareholder that has taken part in a placing has been stitched up. Koovs are now onto their third broker, after Peel Hunt & Whitman Howard decided that they had enough.
It is now up to Canaccord Genuity to sell the story to new Investors.
Unless there is real heavyweight backing from the Chairman Lord Alli, I can't see any money being raised until the two clowns at the top are replaced. The CEO Mary Turner & CFO Robert Pursell have bought the share price down from 80p to 3p
FLFL has confirmed its commitment to honour its investment into Koovs, whether through the existing mechanism or an alternative route should the approval not be forthcoming.
No.mention of the alternative financial options.
Definitely squeaky bum time as we approach the year end!!!!
GLAHS
How confident are my fellow investors.Have to say the inexorable drop in the sp appears to have stopped.Hopefully somebody is in the know
Really interesting to see these connections!!! I hope that FLFL manage to come up trumps otherwise could have some explaining to do to the wife!!!
Very interesting to see who the Chairman of Silvergate Media, Lord Waheed Alli's media company is. William Astor 4th Viscount Astor
https://en.wikipedia.org/wiki/William_Astor,_4th_Viscount_Astor
Samantha Cameron is the elder daughter of Sir Reginald Sheffield, 8th Baronet[3] and Annabel Lucy Veronica Jones. Sir Reginald and Annabel married on 11 November 1969. The couple divorced in 1974, after Samantha's younger sister, Emily Julia Sheffield, was born in 1973.[4]
Annabel later remarried to William Waldorf Astor III
So Viscount Astor is the Stepfather of Emily Sheffield, who is a non Executive Director of Koovs!
"When a person or group acquires interests in shares carrying 30% or more of the voting rights of a company, they must make a cash offer to all other shareholders at the highest price paid in the 12 months before the offer was announced "
http://www.thetakeoverpanel.org.uk/the-code/download-code
Now this could get tricky & the reason that Kishore Biyani paid the token £250k at 28.36p in the September placing for 881,523 shares. This is the one question that nobody inc Koovs have answered. I have asked Strand Hanson (Nomad), Newgate Communications (PR Firm) & the whole management team.
Black Diamond pointed this out to us previously.
But surely this also stops FLFL making an offer less than 28.36p??
Now if RBI ease restrictions & FLFL do not want to pay 28.36p a share (they have reneged on the deal before), £6.5 million invested at less than 28.36p will take them over 30%, so under the LSE rules, will have to make a cash offer of at least 28.36p a share.
Now I wonder if Koovs forced FLFL into this as an insurance policy to prevent a cheap takeover by them or anybody else??
The £250k was a token amount- a weeks worth of funding! This must have been Alli's idea, protecting his investment & company.
Thoughts guys?
When I was an early investor in Boohoo, I also thought that Boohoo would just be a female brand, but the BoohooMan has really taken off.
As an investor in both Boohoo & Koovs, I was intrigued to compare the quality of the merchandise. The Boohoo gear was just like stuff from the local market, some of it made in Turkey.
I managed to get a shipment of clothes from Gurgaon. There was no comparison. Each item was well packaged & the quality was excellent & true to what I had seen on the website.
Can you contact me on Twitter, I'll send you a couple of bits
https://twitter.com/Trebuchet_Kid/status/1203223224831676416
I noticed that Koovs Women Active currently listing 99 products against 75+ from yesterday. And 3-4 months ago there were 40+ products in this category.
This is one section that is growing gradually.
https://www.koovs.com/women/brand/k-active/
I somehow see Koovs as a female brand. The brands doesn't sound manly. They may have to come up with another brand name for mens. definitely not Koovs men. Looks at the mens brand names from FLFL - Indigo nation, Converse, Scullers.
None of the mens would like to tell that they wear a brand called Koovs. But they feel proud to say Lee Cooper, Levis, Allen Solly and much more to say. Just my opinion.
You are right putneylad!
The Koovs womens product range has touched 2400 and Koovs men has 1627 products at the moment.
2-3 days ago the numbers were below
Koovs women – 1700
Koovs men – 1000
2 weeks ago (On 25th Nov 2019) below was the numbers
Koovs women – 2043
Koovs men – 1367
4 weeks ago the numbers were too low.
Due to the black friday sales most of these products could have sold out and I think they are increasing the productst for the Christmas and Boxing day( I know its nothing for Indians. But since Koovs is a UK company it could offer more) sale.
This gives us more confidence now and is an evidence that these are not cash conserve measures and these are not the symptoms of a company that is about to go bust in 4 weeks.
This is what I hate with this management. The tell one in the RNS and act exactly opposite to that.
Sitting tight with my holdings.
Good Luck!
FB Message sent to illi regards the bird cage
Interesting to see that Koovs own brand has shot up to 2310 items, an increase of 500 from last week & the highest I have ever seen!
https://www.koovs.com/women/brand/koovs/
https://twitter.com/Trebuchet_Kid/status/1203223224831676416
Good to have you back English, there really has been some dross arrive here of late...
I just want to let the original members on here I will still be checking in regularly, but not saying much since LSE was invaded by 'twats, idiots, rampers, advfn, etc'
Koov is now rising fast, about to smash 4p could finish 4.5p to 5p today.
smart money powering in to koov now.
high spread is better, so the mm can build a base, and when times comes can race off .
Looking at the price action over the last week, this is not indicative of a company about to fold
Looking at old rns’s, only last August, Lord Alli, Emily Sheffield & Nina Amin bought about 11 Million shares between them at 15p when figures were rubbish!!
That was after £12 Million was raised at an oversubscribed placing also at 15p by Whitman Howard
Koovs are bigger & better now!
Koovs are clearly giving FLFL every opportunity to honour their deal, but the RBI are hampering progress due to the 'round tripping' issue. Until the RBI issue is sorted (which could take many months), we can forget getting any money out of India
It has been seven weeks now & surely Koovs new broker Canaccord Genuity must be gearing up for an 'emergency placing'.
If it comes, it will be interesting to see at what price with the blended deal & previous placings being at 15p.
Why is there such a difference in the spread to sell
There’s been some filtering done already this morning...absolute ramp central and not even 8am!
Good luck to all the genuine LTH over the next few days and hopefully we get the positive news we all want...
Joe, We have sent a message to a Spanish speaking friend of ours ana lili Santiago Madonna who is on FB, Ask to check hidden messages on FB.