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Thank you davey…good explanation
Just a big gap on L2 this morning. One mm was 2p offer and the next offer was 2.4p so they should have went 2.1p or 2.2p offer which is the current price online so by going 1.9-2.4p on the screen they are trying to stop people from buying and it's working, should be over 3p for me and possibly 5p+ medium term
Any reason or just rebounding from its recent low?
Still holding here
GL
Probably explains who sold in the news about the accounts though - our own senior staff trashing the SP to gain financial advantage - you could make it up.
Is interesting for who is not on the list - has Steve Flavell, co-CEO not taken his up or perhaps not been issued with any.
Also the suggestion that they sold a large proportion of them to cover tax, looks ridiculous as the CFO sold all of his and holds bugger all in terms of shares (no commitment!)
Monica69 - I really don't recognise your reasoning for your viewpoint.
The company is undoubtedly troubled and that is reflected in the poor SP, but they have money, the backing of wealthy shareholders and contrary to your assertion they have something to sell and an increasing number of companies are taking up the service and crucially not becoming disgruntled and swapping it out for another supplier - in fact they are adding additional services .
Are you saying they are being duped into buying an imaginary service - if you bother to research you will also fill Loopup holds it's own in comparison with best in class services.
You didn't bother posting to pour cold water on the gyration downward but feel conpelled to protest an upward movement.
I believe the result had two main downers, the asset write-down and the impending loan settlement both of which have been sorted out, the first by taking a non-cash hit and the second amazingly cost and penalty free, a great endorsement (confidence from the Bank) as they don't take additional risk cost free and know much more about the company's prospect than any of us.
I suspect yesterday was simply a relief rally when the realisation that the company is not in imminent danger landed - they now have another year at least to sort out the business and it is actually a much bigger business and cash generative business than last year.
It's very noble of you, but don't worry yourself too much about shareholders.
Dont get me wrong JTD any rise is undoubtedly good for holders....my point is i see it only as a short term gyration with nothing really to back it up. Let's face it they have no money and no product...or rather no product that anyone is interested in.
Always in the background to do their best to rubbish anything that might spell an improvement in fortunes.
Their efforts, and to be frank anyone attempt to drum up positive or negative sentiment are now a waste of time - those that wanted out are out and those left are more resilient than be influenced by scaremongering.
With no product to speak of.
Undersold more like......massive sales coming in now
It's not oversold if the directors love destroying shareholder value and the company is worth nothing...
Been a big seller who has ran out. Combined with bank deals means it's become very oversold
Someone is buying massive.
Holding a few here but can’t explain the rise in sp today ?
Any ideas apart from some sort of M&A or big contract?
GL
Def feel it will go when somebody pays 2.24p when 2p offer.
Think this might go on a decent recovery run once the overhang is cleared.
Lots of bombed out stocks see huge gains this morning
2.5 mil worked sale at 1.7p that is more like it
Can buy 250k again so still a seller mm's were just playing with me as normal
I cannot buy 25000 online, reasonable print of 629k at 1.7p now if it was 2-3 mil I'd think seller out, maybe that is it, just 629k was left to clear but seems low
If the bank had been concerned they would have demanded a capital raise as a condition of the extension - they always (ALWAYS) look to minimise their perceived risk - they don't care in the slightest about shareholder value just having sufficient security to safeguard their position.
So it's fair to assume the company is operating within covenant and performing financially in a way which provides confidence - there appears no pressing need for a capital raise but for every company there is the possibility.
Today is likely the time of maximum pressure with disgruntled sellers - now they have offloaded the news they can start to rebuild.
What really bugs me about companies like this is that the directors don't feel the pain and often benefit from failure with allocations of cheap shares - if they are not sacked then all bonused should be stopped and salaries relieved downwards - not staff, just executive directors and if they bu**er off.. Good.
Well I've just bought in 250k 150k and 100k around the 1.77p mark, if a institution is selling then thank them for the cheap entry price
If the bank have extended the loan. Then surely no capital raise is needed, which means future profits are forecast to be healthy?
Shows the company is still trying to hide their huge mistake in buying MeetingZone and there incompetence in integrating it, auditors having to tell them to recognise their error and write it off shows their effort to cover up their mistakes. The directors not being honest is the story here - not the money which was only notional
Notwithstanding that at least one (preferably both) CEO's should have been sacked years ago, the disclosure is a surprise only in the fashion in which it occurred - surely no one really thought that goodwill accounted to anything other that a number in the accounts.
Now they can get on with the business without it being dropped on up next year as a shock when hopefully a turnaround is supported by strong evidence. The loan extension provides comfort that the company has a future and also that the problem does not go deeper - if so the Bank would demand repayment of the loan and impose penalties.
I like it how they made it so casual as me and you finding £1 down the sofa Knigel :-))
Still I think this is starting to get in the "attractive" zone, the last time I traded this I made 50-100% in a day when it went from 7p to 16p highs and now 2p..overhang no support drifting like 95% of penny stocks
Auditors: “we just found a late additional goodwill adjustment of £13.5 million” WTF! At least the banking facilities are extended until late 2024