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Trust me, MSYS is finished as a PLC, it will never come out of suspension to trade again, it will get delisted as MSYS know full well that with an MCAP of just £300k there is not a chance in hell of anyone giving £1M to £2M probably needed to bring this back to life again. It will of course continue as a private company and the directors will make fortunes from it in due course but no one will ever know about it.
GB has engineered this situation quite deliberately, by over extending credit, and therefore no one needs to ask him if he 'gets it'.
Sadly by continuing to suggest that MSYS will get cash from DVRG it is pretty clear that you do not 'get it'
And they’re overpriced too🤣
I get it, give him a call. Tell him if he gets it
Nu once the results come in, we can all buy in for more shares than GB and Nigel have and vote them out
Sol - I am afraid that you do not get it. There will be no money from DVRG. DVRG owes at least £10m to preferred/secured creditors. It is likely that the value of assets will be significantly less than this. Unsecured creditors of DVRG will likely get NOTHING. You need to accept this and move on. It's how an insolvency works.
GB has cratered your company by using MSYS cash to prop up DVRG. It really is that simple.
The mcap of MSYS is now below the average price of a 4 bedroom home in the south east.
The placing is now 100% nailed on so PIs will be wiped out anyway.
GB has no qualifications, other than a plumber. He has a uniquely terrible record with ever company that he runsd being a disaster.
How does a plumber with a history of disasters ending up running a series of quoted companies?
How can MSYS possibly raise funding with GB's record of consistent losses?
Muggings give him a call +44 (0)1483 751 577. You know him much better than anyone else here.
This is getting ridiculous now. Dvrg has been a pain for this not paying the money on time. Hopefully it stays suspended until the cash comes in. This is dropping to crazy lows and even when the cash comes in, we won't be back up for a while
Nobody will be held to account here, end of.
AIM regulation is only there to to protect plcs and their awful directors from private investors when it should doing the exact opposite.
Legalised thieving from people who trust that aim regulations are there to stop this kind of market abuse.
GB has scr3wed this company as he has DVRG and Alltracel before.
He has used MSYS funds to prop up DVRG. His actions at DVRG caused that company to crater and, in turn, has caused MSYS to crater. Sadly, it was all too obvious and there were a few people on this BB who clearly did not understand how the DVRG liquidation would work and the impact it would have on MSYS.
The extraordinary thing is how GB was ever allowed to Chair MSYS given that he has clearly and obviously cratered the company. It really is shocking and th erest of the BoD must be held responsible for this and also by allowing the DVRG loan to get completely out of hand.
“Suspension” in most circles is a punishment. Alas when a stock is suspended it doesn’t punish the perpetrators in the slightest. I vote for a new alternative where the executive chairman is rounded up on the 10pm news, trousers dropped, and publicly spanked by Huw Edwards.
Anyone fancy ringing Gerry for a chat about this?
Gerry Brandon (Executive Chairman) +44 (0)1483 751 577
Also explains Miton's actions recently when they dumped a whole bunch of shares at a huge loss.
LTB,
Gerry could not care less, he made £millions from Altracell and I am sure his "fees" paid into his multitude of back channels from MSYS and DVRG for "Advisory" works have kept him and his wife very comfortable indeed.
It's an utter disgrace, now the BoD wants to hold a gun to PIs and other shareholders heads by effectively saying supportive a hugely dilutive discounted fund raise or lose everything. And people like this just keep on getting away with this kind of thing. Telling the market they ate financially desperate because of they way they bank rolled DVRG, you really have to LOL and write this off now as a valuable lesson learnt.
Yeap, I guess Gerry has burned MSYS too, 2 PLCs in 2 months...what an achievement for his CV!!!
The Company's shares will be suspended from trading on AIM with effect from 3 July 2023, pending publication of the FY22 annual report and accounts.
Not unexpected really, suspension to be followed by massive fund raise, PIs wiped out. Bravo Gerry Brandon.
That's it guys, 1 hour left of trading before the first numbers after waiting 1 whole year!!! Not much left to say, we covered all angles, Mr Market will give its verdict tomorrow at 8am.
I hope it will not be a damp squib, I think we all expect some fireworks tomorrow, many expect MSYS to burn or drown with Gerry etc. A lot of luck is needed, for all of us.
That's why I hope that - whoever puts new funds in (hopefully, not much though) - will demand Gerry's departure as CEO.
Fast forward to April (DVRG)
On 9 January 2023 the Company announced that it expected 2022 (unaudited) revenues to be approximately £17.2m. Following the board change announced on 6 February 2023, and the appointment of a new Chief Financial Officer on 7 February 2023, the new management team has undertaken a comprehensive review of all major contracts.
Whilst further analysis continues, based on the current available information and analysis to date, it is clear that revenues for a number of contracts have been incorrectly recognised in excess of works completed and therefore revenues for 2022 under the relevant accounting standard IFRS15 are expected to be approximately 45-50% of the £17.2m revenue figure provided by the previous executive management team and notified to the market.
In Jan 2023 NB stated the following for DVRG:
Dr Nigel Burton, interim CEO DeepVerge plc, commented:
"The Group's major achievements of 2022 were:
· Intensifying the focus on bigger ticket, higher value, technology and data-based sales;
· Gaining the confidence of partners and their customers to use our solutions;
· Putting in place the personnel and resource structures needed to support and develop this type of expanding business; and
· Bedding in reference sites across the globe which showcase the solutions we can deliver to customers.
These achievements, and the successful fund raise in November 2022, provide solid foundations for 2023