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Still and if at the moment. Comms clearly terrible.
Doesn't seem there is an IF anymore. They only had about £900k left 10 months ago, despite being favoured by a hefty windfall gain from the Brexit fall in Sterling. My guess is they won't have more than £550k now despite "cuting costs to a minimum", which seems to equate to an extravagant £400k+ a year for runnning a non-trading AIM cash shell. £550k is about 1.5p a share - but residual cash could be a lot less. Who knows what has been spent in the last 10 months on such items as spurious due dilgence, entertaining and 'performance bonuses'. It doesn't currently seem we are talking about people with any great sense of shareholder responsibility here. And there is the little matter of the loan to the DBC, will it be (or hopefully has it already been) repaid, or will it be quietly written off post delisting? I will be pleasantly suprised if they even call an EGM without coercion, despite being mandated to do so. I wonder what JM's salary in this farce was (and sadly probably still is).
If this gets cancelled today how much money if any do you think will be returned to share holders?
Is not the man i thought he was...possibly why he so wealthy....no concern for others comes to mind...
If this gets cancelled tomorrow it will be the worst performing share I've ever invested in. $1.5m and 18 months to do anything, literally just spin a wheel and invest the cash we have.
I understand from my previous experience with TEN that the share listing will be cancelled pre-trading on 6 April and so we would appear to have until by the close of trade tomorrow. Love your comments, but extremely p..sed off by this apparent fiasco. I don't think AIM gives any extension time, unless you know otherwise.
Is it Tomorrow or Thursday? Will they announce a date for the promised EGM at the same time? (Don't bank on it given their organisational skills and apparent total lack of interest in their shareholders). If they don't what then? Will Mitch ("Six months ago I couldn't spell CEO, now I are one") Anand come riding to the rescue at the last minute on a worn out donkey called T - Almost certainly not. Will JM leap suddenly out of his rocking chair, rejuvenated by life extension drugs, and requisition a further 2 weeks from a compliant AIM to complete the RTO of the DBC, I think no. How much money is it realistic to expect for cashback? 1.5p?? Any guesses?
Werberone - have a look at PRS's bb which is being used by GWIK holders. I have not posted as just waiting like your goodself. The PLC i3 Energy has now been incorporated but still don't know what the timetable is for the IPO.
Hi Saintpeter7 what is the latest with gwik ? since the BB went down i not been up to speed with what happening
This is the fourth shell I have been involved with, the others being GWIK, FOR and SMA. The first came up trumps, the second ended up on NEX (thankfully only a £500 punt) and the other has until July. In my short time experience, rarely does anything happen quickly and the six months time limit before AIM cancellation seems to be fully utilised. I took comfort that JM was involved, but now not at all sure. Last minute - let's hope so.
Until our fate is known.
The Diabolical Boot Company is continuing to churn out feel good tweets every few hours. below is a puff piece on them from The Manufacturer dated yesterday. There is presumably some cynical reason for all this ongoing feel-goodery, after months of somnolence. http://www.themanufacturer.com/articles/wearable-tech-soothes-diabetic-suffering/ If LIFE is not to be delisted next week looks like an investment in the DBC, on which shareholders will not be allowed a vote (ie not an RTO) is a strong contender. This is likely to be at an unrealistically high valuation imo, to suit JM, and is in many ways a worst case/nightmare scenario, at least in the short term (as other perhaps more attractive investments would presumably follow) . An investment in something new and promising at a decent valuation is a lesser possibility imo, with DBC perhaps to follow later, and might be best case, with an EGM giving limited cashback between these two options in desirability and perhaps the most likely.
Dead and buried...seems so ,or is their a glimmer of hope ?
Not surprisingly, DBC will be late in filing their Accounts to 30 June 2016 if they are not filed today. Not that the Bod are probably worried - what is a £150 penalty to a company of their size. That tweet just makes you think there is an outside chance that an investment will be announced before 5 April. I don't think it has to be an RTO for which time has surely run out. The fact that they shortened the current accounting period to 31 December 2016 from 30 June 2017 and that there was registration of a charge in December in relation to £2m CULNs 2018 indicates that they have been planning something for DBC. We live in hope.
Quite possibly that famous 'Anand' tweet was just JM's idea of a wizard wheeze anyway. Who knows? Only 2 or 3 more trading days till cancellation RNS it seems. I wonder how much has been spent/squandered on un"due diligence" and other expenses/salaries in the last few months for FA? How long will they be able to delay the EGM/Wind up/cash back if nothing is forthcoming? Place your bets.
Not sure how they cannot release an RNS today? Whatever the outcome it's a fundamental change? Independent indeed, but then AIM is a joke when it comes to that rule.
I'd rate the chances of an announcement tomorrow re the loan as less than 50%. Anand's real life independence would seem rather unconvincing if he is tweeting from Mellon's twitter a/c at 3.25 am, he will likely just do what he is told imo. If whatever was coming here was going to be well rec'd likely we would have heard already. Although it is possible JM wanted to get the Regent Accounts away whilst it was still faintly plausible to maintain an RTO was on the table. All in all reasons for optimism are not exactly thick on the ground currently.
Due back to us + interest tomorrow. Surely cannot drift into next week??
Has treated us all in a disgusting way...would never touch any company he is involved with ever again...shud hang his head in shamei
Interesting thanks, I see that is from results dated today, but the transaction seems very much in question now, as the requisite deadline re an EGM to approve it prior to potential delisting appears to have been missed. In the case of a delisting LIFE is obliged to call a different EGM to offer cash back to its shareholders. Few LIFE shareholders have much if any enthusiasm for the DBC I think it is fair to say, except as an alternative possibly marginally better than nothing. The $17 million valuation given to the DBC in the RP accts is extremely speculative imo, to put it politely
Hi this is an extract from RP's results statement thought it might be of interest. After the further subscription of GBP 1 million (or approximately US$1.45 million) in Diabetic Boot, the Company notes that, on 6 October 2016, Alternative Investment Market (“AIM”) listed Life Science Developments Limited (“LIFE”) (LON:LIFE) announced that it had signed a non- binding term sheet to acquire Diabetic Boot for new shares in LIFE without any specific valuation being revealed. No further announcement has been made by LIFE and the Company understands that the acquisition remains subject, inter alia, to the completion of due diligence, documentation and compliance with all regulatory requirements, including the AIM Rules and that there is no guarantee that all such matters can or will be completed. The Company further notes that the acquisition would, if completed, amount to: (i) a connected or related party transaction of LIFE, given the cross interests of James Mellon; as well as: (ii) a reverse takeover of LIFE under the AIM Rules. Should a binding offer for Diabetic Boot materialise, the Company will assess the merits of the transaction at that time, together with any HK Listing Rules implications it may have in accepting or participating in such transaction.
Longevity companies are in the news today I see, topically enough. Http://www.nzherald.co.nz/lifestyle/news/article.cfm?c_id=6&objectid=11827118 i suspect we may all need this kind of treatment if want to live long enough to see any return on investment here.
As JM was talking about investing in longevity, perhaps even at this stage, LIFE will be investing in one of those companies he listed at the Master Investor Show rather than DBC. Unlikely I know, but ...... We live in hope.
Yes, I assumed it meant transaction. I guess he felt he couldn't say more, but I did laugh at the picture you conjured up in our minds of JM stopping MA in his tracks. even at 3.25 am!
Yes, I think you have nailed it. A Transaction, Tequila Slammer and a Terrible Idea all at the same time must be the worry. 50% of their funds invested in the DBC on laughable terms would be pretty dire for example, and far too possible.