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Vote no
RMS should use the founders £33K gift to keep Gyrometric open for as long as possible using the time to find a buyer.
The major turbine manufactures who is supposed to be trialling the tech will make an offer if the tech works. They'd own the tech and get tax losses so they would pay something worthwhile. If they don't and another buyer cant be found stop the support and let the company go under.
If you assume there is no point owning 15% of something nobody else wants to buy and then Gyromentrics goes under we are no worse off.
Star786, I am very well. Hope you are well. I like your business attitude, very wise. Now the bod are using their wisdom. Better late than never.
if it's such small fry then why are we writing off 500k (10% of the cash we have - because that will not be on the 2020 accounts as that action occurs this year, no?). may as well carry the losses for 3-5 years and then decide (and if profitable then can use it as tax writeoffs)
Why care about and waste time with something small (Gyrometric), when you have bigger fish to fry (nanosynth). Think about it or have a little patience and you will find out.
Good move by the bod.
DYOR
308. - agreed. Looks like if you only look at RMS then the information is lacking - to be polite... BRH appears to state more information (for a lesser shareholder...), however I would be pretty hesitant of trusting any RNS from any company where TB is a Director due to what happened here.
Do we actually know how many shafts, generally, fail due to something that this technology can detect? I haven't seen any decent information on wind turbines, and for me this is critical. If not many fail (i.e. initial manufacture is more robust - probably unlikely if built in China) then could be there aren't really many opportunites. That said, for ships, there can be a significant issue e.g. if there was a slight grounding or knock or so on that than create issues in the rotational symmetry to avoid shaking/further damage etc.
Not any information one way or anothoer, maybe the BOD has this.
Do we have the opportunity to ask questions at the AGM on this?
I just don't think they have given us the full picture of Gyro to make that decision.
We have just had an update and I am still none the wiser if the trails on the wind turbine actually took place and failed or if they never took place at all.
I'd be mighty peeved if we handed back to the founders then they announced a successful deal.
Also I have some concerns about the 15%. What's to stop them raising money by dilution and us ending up with very little?
I think on balance they would be better to keep hold of it but curtail any new avenues. Try to get minimum expenditure and see if the sales on the ships gradually goes up. I'm not sure Ganni have really had chance to push this angle fully since not long after the deal we ended up with Covid pandemic.
Just my thoughts on it. I'm considering voting 'no'.
https://www.lse.co.uk/rns/RMS/braveheart-update-on-p2f-rms-update-on-gyrometric-d19op6c0vm8q1ny.html
"Gyrometric continues to be in detailed technical discussions with one of the world's largest manufacturers of offshore wind turbines about the installation and testing of this Gyrometric technology on a large wind turbine early in 2021.
The testing aims to prove the Gyrometric designed laser system, a relatively light touch installation, and will provide monitoring of important parameters not previously measurable on a rotating turbine or indeed in the field on an extremely large and powerful wind turbine."
https://www.lse.co.uk/rns/RMS/proposed-transfer-of-gyrometric-systems-limited-1o84kq0wmirtw6z.html
"GyroMetric had shown potential in the discussions with offshore wind turbine manufacturers. However, significant investment would have been required to take advantage of this and other opportunities for GyroMetric's technology.."
Question is in the title.
Does this make good financial sense? writing off 500k (which is about 5 years worth of losses). Surely best to see where we are in a few years and make the decision a little further down the line - or at least try to find a buyer then write off the debt as a sweetner.
Any pros for this? I understand reducing year on year loss of 100k but not for writing off such a debt.
Genuinely interested in all view points.