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Instead of Scott buying shares to fund his salary, he should have said he will not take any salary for the next 2 years that way they would have saved the £1.5 million they need to raise lol.
at this price the 1.5M won't go through .. but just think .. if it did and the top end estimate of life from the cash happened .. then somewhere between 10 and 12% of that cash will be for Scott's salary
If they can't raise a minimum of £1.5 million it won't go through. Can't see anyone buying new shares at 2p and even if it did they predict another fund raise in 4 to 6 months time. No win situation for anyone buying shares apart from traders trying to make a couple of quid.
There is no way that placing is going to go through at these prices. what next for REDt
REDT is in deep sh.t and in my view unlikely to survive. The blame lies not with AIM but with management.
Plenty good companies on AIM. Just have a look at Advanced Medical Soltions (AMS), possibly the soundest company in the market, growing at a nice pace year by year and increasing its cash pile year by year.
I'll continue holding with the remaining % as not a lot of point but I guess it will depend on the size of your holding.
If one of the two big deals actually get fulfilled then I'll jump out on any spike then.
In or out for a trade on the bell?
The fact is we have all been sucked into shares by bull sh it a CEO comes out with many times on AIM and they get away with it. Probably won't change and will happen time and time again until no one invests in AIM which is probably starting to happen as we speak. AIM will disappear and so will lots of start up companies unless of course authorities take action. Wouldn't hold your breath though.
Scott is just another normal AIM CEO full of it just to make his salary and retire fat on private investors money.
Munters aka Chimers said it was a scam because of Gigha, he then changed his mind, he’s claiming credit for something he didn’t know or warn about.
Problem here is the constant lies from Scott, billion pound pipelines and sales that never existed, I checked the German deal and via mates in corporate finance, it was and still is laughable. Sadly that doesn’t help those who believe the lies being spun from the company.
We have all been here once or twice, I hope everyone gets their money back, I also hope Scott and Kenna get what’s coming to them in a jail cell, it is the least they deserve.
All of my research will be forwarded to the FSA when this company folds, that will include the major shareholders such as Schroders who will hopefully have the funds to take action against these fraudsters,
Scott has a thriving business paid for by shareholders same as Kenna, whilst the shite is left. Disgusting human beings who ran this business, greedy thieving filth.
actually, Munters and others have been warning for a fair time that all was not sweet smelling .... if people had read the RNS's, timed to meet fund raises, then vast expenses spending with little actual results, it was ruddy obvious.
No one is laughing at misfortune ....
nothing to takeover .. their technology is essentially not proven (some field trials in 3 years !) and other players have much bigger installations that are operating. The only IP of value is their proprietary stack arrangement.. which is essentially unproven in scale.
Hang on an see, but unless Scott has some nefarious plan to buy out the IP for a few quid and have a buyer lined up then this is a pure punt investment now - VC with oodles of cash perhaps ...
I fell very sorry for those who have lost money here.. right when VFRB is starting to takeoff
You can check power generation live stats:
http://gridwatch.co.uk/
I do hope the company can raise cash, we are on the brink of a disruption in energy and transport, we are currently running on 28% wind generated power, the new demands will need huge investments in storage and smart grids, don't underestimate the upcoming events pressing governments globally to invest in greener energy.
this sort of trash is the reason I dont generally read these forums anymore. Laughing at other peoples misfortune like you never had a share go bad in your life :)
And last but not least....and remember I warned all of you that this trash would collapse I warned you all for over a year and all most of you did was shout me down.
Well........THEY AINT SHOUTING NOW...
Grab what you can and get out while you can this is FINISHED...KAPUT...FINITO...BEREFT OF LIFE...etc
'Shareholders should be aware that unless the Minimum Amount is raised and the Resolution is passed at the General Meeting, the Directors would have to launch a very accelerated search process to find funders for the business, which if unsuccessful could result in the Company being unable to trade.'
And...
"The funds raised from the Placing will not be sufficient to see the Company through to cash generation. It also remains the Board's opinion that to fully capitalise on the significant emerging opportunities in the energy storage market, the business requires broader support from one or more strategic partners. The Strategic Review will take into account the amount raised from the Open Offer when determining the optimum outcome for both the business and its shareholders given the cash reserves available."
Along with...
"In the event that the proceeds of the Fundraising are less than £1.5m (before expenses) (the "Minimum Amount") the General Meeting will not occur and the Fundraising will not complete."
You jokers on here are still not getting it are you...IT'S OVER....
'It is possible, depending on the funding status at the time, that when the Company publishes its 2018 Financial Statements there may still be material uncertainty regarding going concern. Depending on the extent of the uncertainty, this may require disclosure in the Financial Statements or the Financial Statements may need to be prepared other than on a going concern basis."
Like many a big shock on the market reaction to the Sp after the RNS. I spoke to REDt today, there was the standard script response, there is however a slim hope Schroader have placed £1m, still a lot more £ required. Red are also doing the overhead reduction, another plus. But like most still a long way to go to secure the future. Very very disappointing. Scott you really need to look at your moral compass, hard working people have put hard earned cash in to a business you have presented to the market.
If any deal gets done now which looks doubtful as sp below discounted placing price then its likely existing shareholders will get wiped out, i sold immediately on the RNS and got out just above 2. I sold because there was no one willing to underwrite the placing. Not sure what went wrong, they seemed to have a good product but it seems with little sales and certainly not enough cash to see through to any profits.
Well there is a severe crdibility issue. Very surpised at this stinker as I felt the fundraise was not due for a couple months and hoped it would be off the back of positive German news. Oh well another bottom drawer share, live and learn.
I see all the miseries are here dribbling over everyones losses.
Is Red now a candidate for a takeover?
Why would anyone buy 2p when they can buy them cheaper off the market wouldn’t surprise me if the placing gets pulled as well as they won’t be able to sell
Not much chance of a successful fundraise at 2p given the falls this afternoon surely...
Has Scott taken a pay cut.