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Sounds that all is not lost? IMO, it could be a related business, maybe buy part of MW against the 1mln DVRG debt to MSYS?
I'm just guessing here, but although a bigger fundraise could mean bigger dilution for us, on the other hand it could mean a much higher Mkt cap upon re-admission, so maybe better if it means a viable MSYS.
"Additional information on the Acquisition and the Revised Fundraising will be provided in a further announcement expected in the coming days......The net proceeds of the Revised Fundraising will support the working capital needs of the enlarged group as well as the consideration for the Acquisition"
MSYS, in its previous state, 'd probably need 2mln for the year, so we are maybe looking at 4-5 mln fresh funds to be raised, to pay for Wcap for the "enlarged group", plus the Acquisition; this means a 90% dilution, as a minimum.
Further to the previous notification on 14 September 2023, the Board has made progress with potential buyers of certain assets and intellectual property owned within the Modern Water and Labskin business units and hopes to be able to agree terms for the sale of these various assets during the next month.
Could it be the acquisition for both MW and labskin?
Sol,
Labskin doesn't fit with MSYS; MW already has many clients, with units installed so there is a need for someone to continue servicing them (and take over MW's existing service obligations).
Of course, it could be an entirely different business, unrelated to DVRG; one of MSYS own clients/suppliers for example.
Lets not look silly here guys (experience gained and all that!) with any obvious as day follows night predictions. Microsaic has no money and no talent and well is a joke. They therefore can only acquire, guess what another joke that they themselves run and control. Lets not forget MSYS is DVRG and DVRG is MSYS and this is why the flurry of RNS's happen at the same time every time (just check the DVRG forums), as its all run by the same people Gerard Burton and Nigel Brandon or did I mix it up there, anyways I am confused myself! My point is its all coordinated, as well as clowns in a circus can coordinate that is. So the only company (company is a stretch) that could join the circus is Modern Water, which the last time we got one of those BS RNS's was run by Glanaco which was sold back to the Glanaco owners for 1 pound. Now I am sure the directors will be doing a 'shift Modern Water over to Microsaic' away from the sinking ship of DVRG circus trick in January. I might be wrong too, but when dealing with a circus never trust the clown ;)
DRD45,
we are just curious to see who would put money - and how much - for this "Acquisition; no harm in speculating, at the end of the day we don't expect much to happen anyway. And if someone does spend a few million, given the history, they must have done some DD, and hopefully get rid of the current Board.
FWIW,
from DVRG's RNS: "The cancellation of the admission of the Company's shares to trading on AIM ("Cancellation") is expected therefore to take place with effect from 7.00 a.m. on 27 December 2023."
From MSYS' RNS: "Recognising that Shareholders must be provided with all information necessary to allow members to make a properly informed decision when considering voting resolutions, the Company proposes to open the General Meeting and then immediately adjourn it to on or around 27 December 2023".
As I was saying MSYS is DVRG. They write their RNS's at the same time because the board in one is the board in the other. Another point to tidy up here, Due Diligence, anyone in their right mind wouldn't touch this circus in terms of investment unless they are in on the con, if they do get 1 million or 2 this is just a lubrication from ex directors to save MSYS the public company (public companies cannot operate on AIM without around a million or 1.5 million in cost covering each year) and they will get MW for nothing and call it some kind of strategic acquisition BS. Then the circus starts again and you will see the PR machine spin out the BS about this and that just like with DVRG RNS's until they pump it back up to 10million or 20million and then they start their extraction again, same as it ever was. Gerard Brandon did this with Alltracel, Cellulac, Deepverge, Modern Water, all nothing companies that he pumps up and dumps. Declan Service the ex CEO of Integumen (Deepverge) is going to jail for insider trading so lets see where this all leads in time. Looks like MSYS needs to be very very careful moving forward and I would urge investors in this circus to exercise extreme caution too and no, online due diligence will do nothing for you here when they wont even release a set of proper accounts. My local corner shop in Leeds even does a set of accounts each year!
The fine details of the ripoff will be known in a couple of weeks (maybe more); until then, a Merry Xmas and a less horrible year than 2023, with fewer scams!
Let's see what happens in the next week and from the GM on the 27th. We just have to wait and see. It does make sense that the acquisition will more likely be MW imo. There is the debt owed and bringing as a bigger group should avoid not being paid for work completed in the future
For us existing shareholders here (which we shouldn't forget), I wish us all the luck that they will do well from this acquisition. Merry xmas and here's to a better 2024
A bit of a wild guess last week, but it makes business sense and it makes use of the 1mln+ owed to MSYS by DVRG; hopefully, the funding will be completed (albeit at a huge dilution).
I agree LT. Makes sense. Looks like the next GM might not be next week now on the 27th.
Maybe another vote as well. But it doesn't say
Microsaic will shortly provide an update to Shareholders in relation to the revised date for the General Meeting, and the expected timetable of principal events relating to the Revised Fundraising and the proposed Acquisition.
It also makes MSYS more attractive to the (lucky?) Funder, as they will acquire a business with an existing clientele and an installed base of Water monitoring units all over the world;
Ideally, if it's a big player (the new investor) it will raise MSYS' profile and stop the rot of fund raises every 2-3 years!
I will be happy with a dilution of 80%!!!
Interesting information of connections drdoolittle45.
All legal ?
Looks like the next con is happening. I find it difficult to believe that the DVRG management team are transferring all the DVRG technology which has been developed at the costs of 10s £m at a token amount. Absolutely shocking.
This company has raised millions - where has all the money gone? GBs missus?
Why isn’t this company being investigated by the fraud police?
Yes, the scam has just rolled into Microsaic like clockwork and off they go to the races again. AIM is literally an embarrassment the way these directors like Gerard Brandon and Nigel Burton and Fionan Murray etc. just scam scam scam.
And anyone here thinking Modern Water has a client base is delusional, Modern water is an empty vessel and is just going to be a PR story once again to con investors into handing over money to this. At this stage everyone is aware of the directors and BS RNS's spun out which are just nothing but lies, so stay clear of this as it will end the same way as all the other companies these con men are involved in. Regulars on AIM, a joke.
@ripley94 all legal!!!! like that deal Microsaic did with Deepverge for services that staff in Deepverge know nothing about for over 1 million to try and extract money out of Deepverge into Microsaic, all legal I am sure especially when it was done by Gerard Brandon and Nigel Burton when they were both Directors of both Deepverge and Microsaic, easy to sign a deal with yourself right. And when Glanaco a company supposedly owned by Director Fionan Murray family member was bought for a few million and sold back to that family member for 1 pound, all legal. And the accountant Deepverge had cooking the books for the 2022 accounts where he overstated the results by over 100%, all legal, never mind the fact we still do not have an audit of Microsaic! We should really compile a list here as it seems the regulator has not.
Ill say it again, do not touch Turner Poop, and stay far away from Microsaic PLC in terms of investing.
Anyone know if there is another voting form for the next GM on the 29th? Or are they using the previous votes submitted minus section 6? I haven't seen one, apart from the previous one I submitted
Sol,
I only saw one, maybe there will be one by Friday or else using the first one; in any case, all is left to know is the % of dilution for us and who is the lucky investor getting MW and MSYS for just 1 mln.
We will see by the 2nd, when all is revealed.
@LTbeliever, you say lucky investor getting MW and MSYS for 1 million! I assume there is a heavy hint of sarcasm here considering what we all now know. Modern Water is not even real by all accounts, we do not have any accounts or audit to prove any sales or clients or partners. All staff with any expertise have been lost and Microsaic has been gutted with an embarrassing level of sales in 2023 that we cannot trust. Any client of Modern Water should at this stage be creating processes for alternative solutions because MW is all but dead. Dilution will be into the 80% and 90% and frankly they are just starting a new entity with plenty of spin once again to trick new investors as all the existing investors have now been used up. Microsaic should be bookmarked as a company to learn from and avoid.
@whitecells , absolutely, Microsaic has no staff, no experience and no sales and the directors running it have proven their incompetence , Modern Water is a vacuum, nothing. So a million on paper is way too much, but it does not matter because in 1-2 years this is what Microsaic PLC will be: https://www.lse.co.uk/rns/DVRG/cancellation-deepverge-plc-5sxp0n6ytok6ru8.html that is how this gaggle operate.
The snake has shed its skin from Deepverge to Microsaic.
Who knows? It could be an existing Inst. Investor willing to gamble "only" 1 million of investors' funds; how lucky/unlucky only time will tell (give it a year or 2); as for the dilution, yes, 80-90% is my estimate too.
We will know in 4 trading days.
:) LTbeliever we all have our thoughts on this but what I wont be on these forums is a f*&king delusional ramper. If anyone thinks they are lucky getting into bed with this degenerate board of directors and con men well best of "luck" to them. Everyone and their dog/kitten/rat (insert your pet of choice) knows what this is. I have learned from my mistakes and ill be calling this for what it is. What will happen in 4 days is we all dilute by 90% plus and some con man "backer" pops in 1 million to oil up the RNS machine to pump the share price, and then we listen to BS RNS after BS RNS for a few months how Modern water is doing this and that and consolidating this and that, when we all know nobody works there and Modern Water is just a few shipping containers rotting over in Cork Ireland with some spare parts in them and a few Irish with the keys. Time will tell indeed, can you list out the significant shareholders in Microsaic, the names should be Nigel Burton, Gerard Brandon, etc etc... !
Regulator regulator where art thou regulator!