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Rice,
Appreciate it.
I fully agree, what the company has done shouldn’t be legal. It is shocking. Unfortunately, it worked a treat, ‘bears’ were successfully silenced, ‘bulls’ ran a mock, LSE was even complicit in deleting my posts.
A sad state all round
I really do not understand this market now and especially the punters playing it. The companies tell you clearly they have no money left and then people pile in and multiples of previous prices when it sticks out like a sore thumb that any company needing to raise serious funds now will only get that money at a substantial discount. The vendors only feel safe if they know they can sell it on for a profit. I see loads of stocks being pushed with super high cash burn MIRI is a great example, how are they going to raise the next amount of funds at a fair price to keep that gravy train going. BIDS was another one that went into administration yesterday VAST should not be allowed to keep doing placings because it's a scam and there's endless others
This 'unsolicited approach' business happened at UPL a few months ago. They, though, did not need to do a placing.
They issued a 'Termination of offer period' RNS quite quickly in which they said: "Further to the Company's announcements of 23 October 2023, the Board of Upland provides an update concerning the unsolicited, very preliminary approach it received regarding a possible offer for Upland (the "Approach") and which the board unequivocally rejected.
The Board of Upland now advises that it has received information that has cast significant doubt on the veracity of the Approach and identity of the potential offeror."
The difference here is that the unsolicited approach was from according to RENX 'a large and well-capitalised publicly listed strategic diagnostics company, which is in the process of evaluating an acquisition of the entire issued, and to be issued, share capital of the Company.'
It will be interesting to see whether the management here refute the unsolicited approach and admit that they sort of imagined it and terminate the offer period or whether there is in fact any truth in it and it remains an option.
Guys,
Especially Maj, I’ll do the honourable thing and admit you were right! I did say it was the spin of a wheel but now it doesn’t even look like that! My question? How is this even legal? Have they broken any rules/laws, was there even any offer? Can this be persuade anywhere? The RNS didn’t even have any mention of an offer, I feel this is one big CON
Sharebel will say he has averaged down and a good buy now!! Along WITH Tricky!!!
Yesterday you posted:
“MADGE is in so deep he’s wearing a rubber gimp suit instead of waders lol! Well 40’s finish and some confident buys. Let’s hope MADGE saw sense finally and one of those was his to close his short! IMHO DYOR”
Well, looks like you’re wearing the ‘gimp suit’ buddy, with a big Renalytix shaped object stuck where the sun doesn’t shine.
I hope those who use LSE regularly start seeing you for what you are: A novice, incompetent, unintelligent, inexperienced ramper, who costs people considerable money with your quite awful fictionally positive spiel.
This had bells 🔔 and whistles on it !! Not really sure why people didn’t listen.
Raising at 20p with the view to raise again
‘Back to school with me’ … as some muppet on here said ha ha
Told you the switch RENX into atome .
You can lead a horse to water …
Oz,
No, not for personally, my views were/are that the company is just a cash burning machine. As Davey says, $10m keeps the lights on for a few months, then they need to find more funds.
I think it’s abundantly clear there never was a genuine takeover offer. The board should be investigated for what they have pulled here.
The abuse and insults directed at myself over the last 2-3 weeks should be directed at the company.
MAJ, would you still say at 20p it’s a bad buy or worth a punt at that price?
$10 for them will last them just months too the way they burn cash
This is standard practice as companies use the rises to strengthen the balance sheets
If as the company stated in a RNS a potential offer for a takeover of the company was near"WHY raise all this cash"another not so credibly RNS IMHO
Bloody most obvious one coming and people like sharebel were pumping yet again another stock ahead of terrible news.
To be be fair I went for 10-15p and they have got 20p but they threw in that bid rubbish so they could get this away at 20p when it was being chased as high as 60p+
Well, just as I said, the company has successfully spoofed all of you. This entire scenario was likely fashioned to be able to get a fundraise away.
It’s only due to the naivety and stupidity of the many I’ve named on this board that they achieved 20p.
Those who have pushed this at 70p, to newbie investors, need to apologise. Absolutely shocking that all the ‘bulls’ have ganged up, creating an echo chamber of positivity, even having many of my entirely factual posts removed. Shocking.
Who saw this coming??
Highlights
· The Placing involves a placing of new ordinary shares of £0.0025 each in the capital of the Company (the "Ordinary Shares") at 20 pence per Ordinary Share (the "Placing Price") to raise approximately US$10 million (c.£7.8 million).
MAJ called it right.
"Inexperienced and gullible retail investors inflating a share price"
APTA. (31 July 2023. Price 2.0). 0.79 GBX -38.71 (-98.00%) past year 11 Mar, 16:30 GMT.
MAJWandCo. Premium Member
Posted in: ITS
Posts: 808
Price: 3.15
No Opinion
APTA secures funding at an 80% - Avoids bankruptcy, similar to the ITS play31 Jul 2023 07:26
Could be the next big riser from the lows in the coming days.
https://www.londonstockexchange.com/news-article/APTA/fundraise-proposed-board-changes-rpt-gm-notice/16061909
“Harwood capital bought 10% last week” 😂😂😂
The clangers keep coming thick and fast.
Harwood Capital is the vehicle in which the Chairman, Chris Mills holds his 10% position. The 8.3 simply informs the market this is the case, it isn’t a new position.
A fraction of research/knowledge would tell you that, mind, I appreciate research/knowledge is in short supply around these parts.
Suppose “Wen AZ takeover” is easier to repeat.
Harwood Capital bought 10% last week. Polar Capital bought 4%. Shorters Citadel are down, Armistice down and Millennium are down. International kidney day on Thursday. And the consultation for the US authorities governing the medical insurance industry ends next week. They have already recommended this test for $950 dollars each. The market in the US alone is an estimated 10-14 million people with type 2 diabetes or chronic kidney disease. The US government has just agreed a contract with RENX to cover all of their armed services. But of a vote of confidence.
This is very likely to happen imho. It will save US insurers about $35 billion on kidney dialysis and other acute treatment for failing kidneys. It will save hundreds of thousands of lives. And big pharma like AstraZeneca will probably double the sales of their chronic treatments already worth about $5 billion. Kidney disease is a big cause of early mortality in the world and destined to become the 4th largest unless we do something about it. Kidney disease can't be reversed but it can be managed and prevented from getting worse if it's caught in time.
$1.11 now on Nasdaq. 43p. Just climbs every day whatever we give it to them at. The US understands that when this gets nationwide insurance coverage, (currently in consultation for exactly that) the current bid will quickly become just a baseline for competitor challenges.
Shorters are closing Maj. Check it out on the short tracker. Soon there will just be you amid a stampeding herd of bulls😄
He1. 1.22 today. • "Inexperienced and gullible retail investors inflating a share price"
MAJWandCo. Premium Member
Posted in: HE1
Posts: 807
Price: 5.775
No Opinion
An amusing dynamic this morning26 Sep 2023 09:03
A punter with a disastrous record this year (and I mean, seriously disastrous) is ringing around folk this morning to try and initiate a short on HE1 today.
It’s probably the best thing anyone long of the stock could hear this morning due to the track record of this character in 2023.
So the attempt to lower the stock this morning is just a coordinated attempt to cause distress.
What will be glorious is when said poster is squeezed out when this short attempt fails - It will happen.
Added this morning
SEDBel - What is it about investing in basket case companies, just seen you’re now telling everyone on the COPL board that your investment there will be ok.
Do you hate money, are you allergic to it?
Jokes aside, I don’t like seeing people lose money, the market is a better place when retail favourites are going up, but you have been insulting from the off. You have also spread continuous misinformation, which I think is your total lack of intelligence, competence and experience, rather than anything more deceptive or sinister.
I do though hope that people will start to take note of how dangerous you are, and people like you. Those who frequent bulletin boards and promise great riches are seriously, seriously dangerous to the wealth of other inexperienced investors/traders.
Your track record is deplorable, yet you have a strange arrogance.
EUA, SED, COPL…
But “RENX will be the one”
Also climbing on NASDAQ
MADGE is in so deep he’s wearing a rubber gimp suit instead of waders lol! Well 40’s finish and some confident buys. Let’s hope MADGE saw sense finally and one of those was his to close his short! IMHO DYOR
Uncle Ben,
My only frustration here is that I couldn’t short more. It’s rare that a collection of events all line up in synchrony:
• Diminishing cashflow as per interim results
• The company then telling the market they were out of cash in 4-8 weeks
• High interest environment meaning funding is very difficult
• Inexperienced and gullible retail investors inflating a share price
Nervous no, frustrated that I couldn’t do more, yes.