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Yes cash rich due to recent investors buying stakes in the company
As soon as we've cleared the remainder of the placing churn then we will begin our ascent
Sell side is non existent. Take out the two MMs sitting at 0.30p and price to play here jumps to 0.35p. Next MM above that is 0.37p.
My point is that you don't get to raise £3m and find there are a couple of new directors on board overnight. Grant - Rennick seems to be on the BOD of a number of companies including AAA which I know nothing about but appears to have come from nowhere. So I take the view that this was all lined up before MOGP decided to sell the trading assets and then raise the £3m which was oversubscribed. And it all happened very quickly. We don't of course know what the £3m will be used for but you can bet it will be soon - perhaps with a few shares to make an acquisition. So IMO a MC of less than £6m, with £3m in the bank is an interesting place to start
Thanks Yelnirb, I am well briefed with the cash shell scenarios and appreciate that Mountfield are a new company but knowing what they have in the bank is pretty key to identifying whether this is a decent buy in price.
There must be cash burn and salaries being paid or have all staff been shown the door.
The more money that Mountfield have the less dilution/money needing to be raised once the RTO takes place.
I presume as the change in direction was late last year the business burnt through at least the 500k cash as part of the half year report.
Just wondered if any LTH had a rough idea of the operating costs that would still be valid for last year.
I have a price I value cash shells at and adding in the cash in the bank gives me a price I am happy to buy in at.
This company ticks most of the boxes except having a rough idea of the cash available to them.
Kind Regards and thanks again for your response
Thanks Yel, I am fine with the cash shell scenerio hence why I am here but there must be money in the bank, and appreciate Mountfield are moving in a new direction but does that mean they have offloaded all previous staff and only have the directors on board? There must be some ongoing operating costs etc so just trying to work out that it wasn’t until late last year that the business went in a new direction so presuming the 500k has gone and trying to work out if any of the recent placing needed to pay off any other bills hence asking whether any LTH’s had a rough idea of the running costs as would still be live until the change of direction in the company.
The cash shell valuation can be construed in many ways but currently we don’t know the identity or what % of that newco we will get.
In summary, knowing what cash in the kitty plus my valuation of a clean shell helps me identify whether it is worth a play at current market cap.
Thanks again. BC
What's all this SPAC stuff about? The IPO process has demonstrated itself to be incredibly uncertain and costly for private companies wanting to go public and as such, left them cash constrained, financially inefficient and unable to take advantage of market opportunity. In Europe, the first wave of SPACs are preparing to list on Euronext. In London, government is racing to catch up and streamline regulations to attract SPACs as well as increase IPO attractiveness. The number of billion dollar tech companies in Europe is increasing apace but the opportunity still remains largely untapped.
Ismalia
No one knows what its value is, this could be way overpriced at .30 but my feeling is there gonna announce the name change and then immediately announce a reverse takeover of a cannabis company.
So the value of the share in future terms is certainly 100p plus but until announced its a giant lottery ticket.
Big cheesy -
The company is a shell and a completely new set up. They have no value in all honesty until we know what there investing in or reverse takeover of.
Until the rename to spac uk plc the share price is anything.
It could be 500p or 0p until we know . All company history and figures now mean 0 its a entirely new venture
At current levels I feel that any new investor will not be paying too much of a premium over the placing price which was oversubscribed. Should not be too long before we get an RNS AS I suspect that things were all lined up well before the original suspension and of course once news drops then sub .30 should be left well behind imo
I am hoping some of the LTH’s can help with cash flow position here. I can see as of June 2020 - 500k in the bank and recent placing for 3.1 mill.
Can anyone help with running costs and rough figure of what they feel this company has in the bank.
Trying to get my head round the half and yearly reports but struggling a bit with this one. Thanks in advance BC
I brought this share knowing its a month off any announcement or updates, I just love the mystery and excitement around here. Plus spac will give it a hell of a boost. Day traders will run out of luck here as the buy and sell price will never actually let you make any real profit on day trades.
This is buy and wait to see if the gamble pays big or just a few times your money
As it's an AIM listed company, they have 6 months from the beginning of this month
When does RTO have to be completed by?
Think the initial excitement for an immediate trading gain has given way to reality. Indeed, a potential bagger for those able to hold maturely. If the top team has a target in mind, not long.
Yep - far too oversold here - I just picked up another 3.5m - will be delayed - toying with buying another 3.5m - huge upside from here
27M Purchase at. 30.
Deliveroo deliver, maybe they could they deliver their upcoming IPO here???
Ha - I use the same barber as Ronaldo - it doesn’t make me a footballer !
Update:
Per the MOGP website Peterhouse capital are the broker:
http://www.mountfieldgroupplc.com/contact.html
So, there does appear to be a connection, but i haven't seen anything that provides confirmation that MOGP is to become either a cannabis firm or a medical device company.
Jemg, please can you post up any concrete links?
The Peterhouse Capital twitter feed makes reference to a cannabis firm that is looking to float:
https://mobile.twitter.com/peterhousecap?lang=en
However, i haven't seen how this relates to MOGP. Perhaps Jemg could clarify
Where is this confirmed please jemg ?
I'm interested to read up on it.
I do not believe orph are anything to do with mogp. I think there just investing in a plan mogp put forward to their big boys.
either a cannabis company who is up and running and generating revenues or a medical devices company into Mountfield
They have two shells that they are working on for these, one is MOPL
Exciting times
Bollovks about ORPH
I'm reading alot of speculation in here - remember if you're here to follow CF - he's only dipped his toe in MOGP ? I don't see him investing 70% of his portfolio - there is a certian sercurity in Orph, very little here, if one of the 3 major inverstors decide to have a change of heart, or MOGP does't make the criterior in 5 months or so ????
I too am invested at punt level here, so I obvioulsy want this to scream off the startline, howeve for me today it's punt level only , my opinion, DYOR GLA