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*yawn*
this sounds like the end coming, but slowly. Glad I did not buy anymore in this bag of p.....oo
700k for 17% of the company on a crowd funding last year. Problem is to know how much that was a PR job in preparation in order to create an inflated price tag.
ago they did a fund raise https://t.co/fMrRbz9xfB
Going to be repaid ? If Sofa need funds immediately ,it doesn't sound like they are financially strong .It would be good to see some financials from Sofa . I
The asset is only valued at circa £3m. As I thought all the way along all the focus is on Fri. I expect a placing at 0.04 at best
I agree but it shouldn't go through full stop. This isn't what was promised by Adam Reynolds. It looks to me as though he is making the best of a bad job, held back by the others on the Board. Delay plus shoddy deal is the result of unresolved conflict at Board level.
Looks a right load of rubbish....I don't see the deal going ahead with the current board in place
Just looked at this bit . As a precursor to the Acquisition, the Company has also agreed to provide Big Sofa with a short-term loan of up to £500,000 for working capital purposes. This loan will be drawn down in two tranches, with £250,000 being drawn immediately. The loan will pay a coupon of 6 per cent., is secured by way of debenture and is fully repayable on 19 October 2016 in the event that the Acquisition does not proceed. It is also envisaged that the Group will seek to raise additional funds from both existing shareholders and new investors to finance the development of the Group going forward. I can't believe they are only charging 6% ,When the funds were raised in the placing (£3.5 million gross - £2.8million net to the company ) = 20% ish Unbelievable !
That was biopharmaceutical and this is IT. Enterprise Video System Management is going to go the way of Enterprise Document Management Systems. There is no patent protection and it's a free for all. They may or may not have assembled a world class development and consultancy team but there is no guarantee that they will stay together or be bought out by a big boy like Oracle. Their EVSM solution has been around since 2011 when they said it would be big in five years and it isn't. This looks like a deal of the desperate to me. No wonder they suspended dealing as this would have plummeted.
Opti had a 200 to 1 consolidation then 10 bagged. It was 0.04 p to 8p. Now it's 80p plus. AR smashed that.
consolidation would be the obvious step IMO.
Just to make sure I've got it right . Will there be circa 10 Billion shares in issue .? 55% to Sofa and 45% to Existing New shareholders . As Sofa shareholders will hold the majority of the shares. Does this mean there will be a re jig of management ? Will there be a name change of the enlarged company or will they trade in tandem under the 2 company's . Obviously extra funding is required , How many more Billion shares do people envisage ,or is it more likely there will be a consolidation ?
replace ********** with (join the 2 words below to form 1 word) nwog action
Sorry email add in my previous post blocked. Here: (hope you get it) enquire @ ********** dot . co dot uk
repost from Ben Turney's tweet...... Ben Turney ‏@Ben_Turney 8h8 hours ago Now that #NEW is suspended pending RTO anyone can join #**********. Email us at ************************
Spoken to someone who knows a little more of this co. business. To explain simply - is like an 'inner google' system employed by their clients' for advertising and promotion work of their business. To use Big Sofa's tech. the clients may have to pay an annual subscription fees of a few to several million of pounds to Big Sofa. This is a quite a new co. and is still in it's infancy and I guess they have so far invested lots of money to build the tech. & co. and now needs more fundings to bring it to the next level which is delivery the business and profit perhaps in the next or following year (that is the reason for the loan and also merging with NEW). This is my initial research and obviously more will be released. AR has always said in all his RTO into shells, he'll want to buy in at a placing price which he will also look after the long term and current supportive loyal shareholders.
Absolutely, god it was getting boring.
In with the new. Reynolds and Lee know exactly what they want for long suffering shareholders and it is not oil. You have to trust what they are doing to EVENTUALLY clear out old management and get a new direction for the company in something more tangible. Money is lost so easily in oil exploration but Big Sofa has the potential to be much better.
Not far off that myself, I would certainly hope for a multibagger.....but only time will tell and at least something has finally happened...LOL
Thanks. I'm in at 0.8, o anything over that would be good.
tozerk, listen to AR's previous interviews. He always says he tries to help the long suffering shareholders as well as make money himself. Gains are not guaranteed, they never are and this is AIM after all. However historically AR has managed to give a decent return on investment with most of the RTO's. Note I say most...this is still a gamble , but one that I am comfortable with. To be fair the amount you make will depend on your entry point. I've done this before and have invested 50% already with the 50% in my ISA waiting for the cash call. I only got involved because AR is. Good luck to you anyway
What happens if you've got nought left to contribute wibble, is it all still good?
Spike...Don't bite mate...they are obviously haven't got a clue and have no idea about what AR does with RTO's. I've got a few quid put by for a capital raise as this always happens, then onwards and upwards ;)
If you don't know the background to this stock, or the BOD, you really shouldn't be invested here. Happy days ahead :-)