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LOTM you don’t need to apologise. People should do their research and when there were less positive news you listened and didn’t shout it down and try and discredit. Hopefully short term pain before gain.
Just for the record, I haven't sold a single share that I've bought since coming here on 8th April & am fully invested cash wise now, with 1M plus another 325K that was for trading, so I have no free cash to participate in the placing, to bring my average price down from around 2.12p
LOTM
Well we knew they would need money but didn't expect that price. Shows how tough these markets are.
As I said, I'm done with AIM, just Russian roulette
I'm truly Sorry to everyone who has bought in recently, following me highlighting the company & asking people to take a look at it.
Yes I did know a fund raise was a possibility, but I didn't see it coming so soon & its slightly larger than the £5M max requirement that I thought they might needed.
The issue price is a disgrace quiet frankly, if that's the best the company can do with the pipeline of opportunities it has & all the hints its been giving through informal channels. The CEO has a lot of explaining to do & his position is in Jeopardy for sure after this, if not untenable.
Again my sincere apologies to everyone.
LOTM
Reading the proposed fundraising document - it indicates that without the fundraising the company can fund its activities only until end August 2024. Suggests that for all the positive activity about relationships etc there's been little or no difference to turnover over the past 6 months or so ?
in the last 2 years (and before) the ceo and cfo have had packages worth well over 50% of the total revenue. what a joke. i mean how is berringer commanding a basic of nearly £500k and why the **** are they getting bonuses on top!?
2021 packages versus revenue - ceo £678,000, cfo £345,000 so £1.23m they take from £2m revenue so nearly 62%.
2022 - ceo £574,000, cfo £357,000, £931,000 of £1.5m revenue £1.5m so just over 62%.
what a joke.
Stampee, if the share price did fall by 60% there'd be no point participating in the retail offer - you could buy the shares (should you so wish) cheaper on the open market !
Gonna be a huge drop tomorrow, 60% .
Daughter asks what best way of earning a good living, hummmm...start a AIM company.
I'll never invest , another £, in AIM ever again, talk about taking the p..s
I must have the worst record ever, so no f...k..g surprise.
Sound, fair enough but this isn’t one that came out of the blue so selling over weeks looks fishy. As I say a raise inevitable. The selling could have been shorts but I doubt it. Some IIs have also been reducing (not rathbones as that’s nominees).
Anyway, short term pain and might be long term gain. Need a new CEO/CFO.
Lovable - You're preaching about this forum not taking into account and dismissing alternative views and then being condescending about mine.
Your suggestion is very possible, intelligent people doing intelligent things. So is mine, dodgy people in a dodgy business doing dodgy things.
Perhaps be a little more open minded ;-)
Sound. If I read you right then I get you. However whilst I have been a cynic no-one deserves that after hours betrayal. The only positive I see is that they did not wait until after hours on a Friday with a Bank Holiday weekend. They have booked tomorrow for early pain.
Bob - I think you're trying to get on a bus that's already full, but I get the impression there'll be another one along soon...
They certainly need to look closely at the identity of the seller over the last couple of weeks.
I’m sorry the above shows a complete lack of understanding. Whoever sold looked at their accounts and knew a raise in H1 inevitable so they rightly reduced their stake. That’s why I said it’s crazy to buy even with stupid LinkedIn posts as a raise en route.
"Am I wrong?"
Sorry. I should have read comments from the regulars first before trying to work it out.
2Phevs
Worth taking leave and get some rest and let the price tank and settle.
Then return at full strength with your incessant posting of useless links and how we are working with companies worth billions.
I won't forget when you sold and came on deramping about a better competitor.
Mirriad is a brilliant idea in the wrong hands. It is an amazing concept. I have seen a few similar companies in the past get destroyed by management. And when the company finally finds it's feet. They pull the plug strategically and take it private. Bids etc.
The board needs a complete overhaul. Good luck all. The price has been lower than 1.25 with far less shares in issue in the past year. Don't be surprised if it drops below 1p because there will be no news worth manure this side of the year or next. The next significant news we are waiting for is next years placing. So until then, peace and love.
They certainly need to look closely at the identity of the seller over the last couple of weeks.
Anyone dumping large amounts continuously just before a placing is dodgy as hell. Probably wouldn't have to look too hard to find links to either the CEO, BoDs or Broker.
90% to the Sophists and 10% to the Plebs. The Plebs have to vote for it or the company is no longer a going concern and delists? The management would like to take part but they can't. Placing at 1.25p when closing SP today is 2.175, a 43% discount? 489.31m shares in issue and they want to issue another 450m? OK so I'm not invested here, I did have some once, but I have kind of followed it, with cynicism, but if this is not rape it is a comprehensive sandbagging.
Am I wrong?
CEO has no credibility. The raise will be oversubscribed given the price but there has been someone dumping for weeks. I do feel sorry for any newbies buying as a result of the incessant ramping here. Anyway, may well come good but always do your own research and read past RNSs. A lot of regurgitation today.
I'm getting out tomorrow, fortunately I have a relatively small number of shares, but I'll wait when (IF) they ever get to breakeven, which may be difficult with, I believe, the CEO pocketing £200,000 + per annum.
As I said I’m not gloating but pointing out it’s not healthy when a BB becomes too rampy and an echo chamber. As you know I’ve been invested for years and when I post a view which is balanced other holders should listen and not have the resident ramper throwing a hissy fit and trying to discredit.
I hope it comes good and maybe the BoD will buy lots of shares and not just a token number.
Well done you LL I'm all in here so seriously down now hopefully this gets done and dusted while Mirriad cracks on with the progress it has made in the last 9 months
This is a lifestyle company, we are all being taken for fools. He's sitting there laughing in some 5 star hotel, with champagne etc massive salary giggling to himself. I'll post some stuff on social media and shareholders will eat it like starving animals.
Last year this same company gave up and was put up for sale as they saw no way forward. After endless placings in the past. No one took the bait and they returned, no sale, no one wanted to buy it. Instantly, they have deals with top tier companies that can't be named. Nothing has changed and nothing will change.
This is a lifestyle company and they are taking us all for fools. 5 million and 50% discount. This is not Sar that has a product in preclinical with results due in a few weeks time.
The cash burn here is ridiculous, no one is using Mirriad. Break even is years away, of possible. There will ne more placings next year. We've been down this road for years.