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I dont doubt that RF have their fingers in many pies and some of those Pies went badly.. But..
The one big difference I see here is that MED was already on its knees in terms of the MCAP prior to RF getting involved. The MCAP is already almost "nothing" and after todays SP placing and the full RF loan is now ~5 x the current value of the company !! .. the risk / reward ratio for RF is very bad indeed.. its a terrible deal for RF should PyeBridge fail
This is what leads me to thinking that with a glass half full that if MED could get PyeBridge going at full capacity then the current MCAP has to be incorrect. For RF to extract / make a return here then MED has to succeed because the NAV wont be enough to cover the loans or the interest.
I just dont see RF wanting to liquidate MED as i think they will lose..
They might take a big chunk of MED.. but only if it succeeds !!
I feel for you guys having gone through the RF turmoil with SAR for many months now ...
In brief with SAR when they took on the funding arrangements the SP was 103.5p .... at which point we picked up a number of doomsters spouting 'death spiral' and watch this plummet ... most of us considered their spouting to be complete BS .. to our detriment .. I now wish I had listened when they started their negative rants ...
Initially RF drip-fed into the market and the SP seemed to stabilise at 80p ... but once they started offloading in larger chunks the SP really started to collapse and in the end the LTHERS and HNWI came in and bailed out the SAR BOD from their naive or incompetent RF funding decision .. but by then the placing was at 10p which also reset RF's warrants from 143p to 10p and all future shares picked up from SAR at 10p also .... so they have made a killing on SAR and have just today requested over 1 Million warrants at 10p, originally 143p
I am completely dumbfounded how any Companies still consider RF as a funding option after seeing the companies they have destroyed prior to this educational lesson;
PS : At one point many thought that RF were attempting to decimate the SAR SP in order to take over the company with a funded loan for a few pence a share ..... all just speculation but stranger things have happened
So my advice would be to look back at the SAR BB from the days when PUMA was spouting DEATH SPIRAL and look at the trend from that point and make up your own minds on what next to do .. hold or sell etc
Good luck to all and apologies that you have become entangled with RF
Regarding the other sites they may be after a site specific agreement with similar terms to riverfort/pyebridge. As the true cost of the engines and infrastructure for the site will certainly run into the millions. They won’t be cheap.
The loan is being released in stages so interest charged is only on moneys owed, not the full 4 million.
This is already priced to fail with a mc of 0.5 million. There is know sugar coating it, it doesn’t look great for the likes of me and others invested here.
But one things for sure there will be many upward spikes in the future. Until some more positive news on electric generation from pyebridge and/progress from other sites.
Kibo to cease selling for 6 months and there reduction to around 20% is positive, if your clutching at straws.
Ilovesushi,
Most investors have negative feelings about Riverfort because they usually end up creating a downward spiral in the share price of the companies with which they are involved. What investors tend to ignore is that they are a business with their own needs to create a profit. For many companies I suspect they are a lender of last resort, as they couldn't do any better elsewhere. The reason for the downward spiral in share prices is that the companies involved don't perform, and so have no alternative.
I may be unfairly critical but the balance of the original loan, which has so far not been drawn down, is around £2.4M. If Bordersley is classified by MAST as "early construction", why aren't they doing anything to get it operational. Is it not possible to do more than one thing at a time. Is the problem the MAST management, or is the problem Riverfort. Given that the company's most urgent need is the maximum revenue at the earliest possible time, it seems strange that relatively little, in terms of their overall portfolio, seems to be on the radar. As interest will be accumulated from the start of any draw down, the company may have concluded that getting Pyebridge up and running gives them the best cash profile, rather than a development that will take 9-12 months to revenue.
The problem for investors, as ever, is that the company haven't provided sufficient specific information on their plans going forward.
"Why is the loan from Riverfort only being released in stages. Don't they trust the management"? Normal logic will say one thing but reality points to another. Riverfort seems to be a specialist in giving loans then converting those loans at lower and lower prices. This seems the essence of a downward spiral and this company no doubts makes money even though supposedly they do not short. In this case they are locked up for a time. Not sure what Rivfort is up to. What I do know most of what they get involved with is company`s that have a downward spiral. Yet they benefit. AVOID any company they are financing or hold shares in. I saw this one coming when the price was double this and I suggest it was a sell, and hinted at Riverfort doing a usual diluting everyone. This place is a cesspit. DO NOT AVERAGE DOWN IN A DEATH SPIRAL. YOU COULD LOSE ALL YOUR MONEY.
Explains why the PS was held back low over the last 2 great RNSs
At least they have the funding now to progress to fair price.
Its business. happy days ahead, its oversold and under priced which is great to see.
plenty of scope of here now.
getting interesting now, was not much in , good things comes to those who wait. :)
I dont buy into the idea that Riverfort are the villans here.. clearly its the Management and companies like Riverfort take a large risk and finance dog companies like MED..
Ask yourself.. if you were asked to stump up £4M to run an almost bankrupt company with no liquid assets and a pile of debt what would you do ?
Who wants to end up trying to sell a load of old Gensets and wires..
Believe me I dont love Riverfort.. but I dont blame them either.. they will want a significant say in what happens.. they will also want their money back + change ASAP..
If MED survive and eventually dig their way out of this Mire then it was all worth it..
Like I say.. for me its still 50/50 win or lose gamble.. but if PyeBridge gets going full speed by the end of Q2 then MED has a punchers chance..
Look at SAR as a recent example of what the riverfort effect is. SP completely decimated and only now starting to recover once they are out.
@David, personally i dont expect Mast to recover quickly if at all - it still looks like a binary play to me.. but clearly "the Plan" is to get its current primary asset into play ASAP.. Pyebridge.. this is the fastest route to revenue and in my book is common sense if the company are to survive in any form.
For the record I do agree that Riverfort are likely calling the shots to some degree, as they would not take on this risk without some form of control. Is that a bad thing ? im not really sure yet.. clearly they will have their own interests first and foremost over the shareholders of Mast. (thats obvious from todays placing)
The path to any kind of recovery beyond Pyebridge will require more detail which you would hope is now being worked on in parallel to the current activities..
It is a bit of a sh*t show right now effectively a ‘back door’ placing, more dilution, warrants oh and hello btw Kibo can you stop selling for a moment so we can sell our stock we have into the market thanks. Yet again it is the loyal shareholders who get the kicking. Nice work BOD! A completely devoid of common sense deal and approach here! IMHO DYOR
3 Years since the IPO. 8p down to 0.2p. Riverfort in the mix. Are they really that much further on that 2021? Another LC special.
Normbeef,
It doesn't feel as if the company has any plan. It actually feels as if Riverfort are controlling the company rather than the directors.
Why was such a disastrous placing (for existing shareholders) necessary.
Why is the loan from Riverfort only being released in stages. Don't they trust the management?
Bordesley is in "early construction" according to MAST. There is a large balance on the loan. What are they doing?
Rochdale and Hindlip are "construction ready". Again, what is the plan.
Everything here seems to be very restrictive, and for the benefit of Riverfort rather than the existing shareholders. If it is too restrictive then MAST will not be able to advance as rapidly as shareholders expect.
Agree with that, no comments from TV or Eg, perhaps looking for their rose tinted specs
Ha
Now that Riverfort is on this only one thing to expect. Steer clear of anything with Riverfort. They seem to get into companies that are on a downward spiral. Saw this coming.
Ilovesushi
Posted in: MAST
Posts: 3,551
Price: 0.50
Strong Sell
Fundraise any day now26 Apr 2024 10:58
Dilution cant be far away.
I would very much like the directors to tell me why the subscription arrangement was even necessary, particularly at the current time. Overall, looks like a very odd deal.
It’s a company fighting to survive. But it has a plan.
Clearly pyebridge is only part of this. But it’s going to be an uphill battle foundling all this. The revenue needs to flow.
Placing of 162,500,000 shares at 0.2 included in the news …..
a mixed bag RNS ……
🤨
Well none today, bet it will finish that way too.
Forget kread, is hurt he bought 7p, and can't average in low last 6 months.
Tide is turning here
good to see low ps to buy off weak sellers --- and kread followers :) ha! lol
From funding RNS.
“ Drawdowns under the Investment will have a term of 24 months and attract an annual interest rate of 12% rolled up and paid at maturity.”
Not 6 months KREAD. Lying weasel
Keep tuggin on it kread..
24 months from date of the drawdown to pay the interest on the riverfort loan. Nothing to worry about for a while yet.
Kread is trading this like a right biatch. And why not, an instant 50-100% on each good news RNS..
Funding on the future plants is key to developments here.
The guys a weasel…
Mast will not get the investors you hope, they are a tin pot company. Their accounts are dismal. They rely on auction prices for a guaranteed income so no bank would touch that. They rely on the wind not blowing for income.
The only thing for sure you can rely on is the piggy wiggy snouts in the wages and administration trough.
If you was a bank what business model would mast tick to lend them money?
I said low 3's I reckon 3 to buy soon. They have already drawn down 450k @ 12% interest, they will draw another 500k to upgrade pyedie so 120k pa interest payments.
Riverfort will call in the loan soon after, sell the 8 mil assets for 1.5mil and walk away with a 500k profit.
All this within the next 6 months.
Last person out turn off the lights.
Lots of good effort from kread trying to keep the downward momentum going. Check his history. He has a hard on for Mast and LC.
When Mast release a financial package to bring Hindlip, Rochdale, Bordesley and stather lane (all construction ready or early construction) into play the sp will respond accordingly. Kread is right about 1 thing. As the company stands its liability’s are out of reach of just Pyebridge income.
Mast need financing news, a partner or JV ASAP.