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I think so too, forward sold .
Depends if they still hold shares... that may tip them over.
Though personally, I suspect this tranche has been forward sold
Agree, I am trying to get a call with Tim, but no one in the office answers.
Current buy price is 13.65, showing up as a sell
The question is could the BOD have raised more to pay off RF. If the answer is yes, then why did they not. A possible next question is is there anything we the shareholders, can do to change course. The next question would calling an EGM be helpful in getting a change of direction.
2.9 Million shares is probably 2.999% I.e less than 3% so that no threshold is crossed
- if we don’t get a holdings rns , then RF has sold the news shares. I don’t think we will
To normal colour today red red red even though reds my fav colour hate it here
Re-reading the terms of the Equity, RF can at any time request the next tranche of issues once they have exhausted the previous set. I think this is just the next 50% to 65% range of the funds owed to RF. 2.9m taken, remaining 800k owed (after this issue), and this set equates to 300k approx. we're just over halfway through the RF saga.
Damion, they've got used to feeding off investors with raise after raise. I don't think over the past 20 years we've seen much business acumen here otherwise we would be much further forward than we are today....
Good luck, as we are clearly going to need it, Brighty
I see that was the tactic. Tim and Co to blame. PH worth the money.
The only possible way that this makes any sense at all, is that positive news is very very close, why else would they do it. Let’s wait and see.
In fact why are they even talking about spending the extra money on preclinical hasn't every RNS stated that all funds are being directed at 1801, it's like they don't even know what to do with it, how about pay off RF you Muppets or keep it towards P2a or for extended working capital..
Answers?
By the removal of paying RF in "cash" from the RNS and now stating "the Company expects to settle all balances by the issuance of Subscription Shares prior to the Maturity Date" That feels like a kick in the nuts after the extra WRAP raised and to do what crack on with 1802 when they never should of stopped working on it... frustrating as f**k this share.
Let's hope we get a positive RNS soon....GLA
Hopefully you're right. I don't mean to be negative, but I'm desperate that the well-intentioned in and around the company learn from this and win out over the malefactors.
The move to Australia and the recent placing were nimble moves that give me confidence, but perhaps a little too white-knuckle for my liking. Here's to calmer waters, to unmix the metaphors.
It has been a sorry tale since PH were appointed on 29 Oct 21 when the share price was £3.20; the consolidation, which was I guess, recommended by PH was on 4 Feb 22 when the share price £1.85; the calamitous RF funding, again I guess recommended by PH, was on 3 Aug 23 when the share price £0.97p. The price then fell to £0.10p. It has been absolutely shocking.
With right advice we could have raised significant funds at £1 or more quite easily in early 2022 and that is what the broker ie PH should have been recommending at that time. This could have helped fund us through 1801 P1 and 2 and most of 1802. Why didn’t they do that?
Thank goodness long term holders have come to help out this last week or so.
Onwards and upwards from here
@Leggster, and they might be already out on nearly out … onwards and upwards in anticipation for trial results
At least we know this is the final position. Hopefully better news from here onwards, always high risk high reward, the science continues to progress. I am looking at the positives rather than the negatives. GLA
What sort of clowns are advising the BoD, and I thought we had a very experienced set of suits. Everyone knows that RF are a massive threat to the SP, why the the hell didn’t they just extend the WRAP, which was over subscribed, by another 8 million shares and get rid of these shysters (We have just given RF nearly 3 million anyway!) We have all seen what RF has done to the SP over last 6 months, and IMHO the same threat is still there. Do another WRAP at 10p and let genuine holders get involved. If the recent SP attack continues, the BoD’s judgement must be questioned.
From Chumpden and on the money.
RF have run rings around the BOD, and will continue to do so until they achieve their objective. Surely they need to be excluded as quickly as possible? A few individuals who should have known better have some questions to answer, in my opinion. It looks like incompetence, or worse.
Who ever is responsible, should be kicked out big tome. Is it Parker & the Peelers.
2.9m shares , the late trade of 1.4m yesterday could have been the forward selling . Another late trade today 350k … there were other 100k sells . They are nearly out if not done already .
It's hard to forget what they have done to so many small investors. I'll be happy to forget then when they are out of the picture.
Why can't we talk and look at the positives Forget RF
I don't understand the RF 'arrangement', and I don't really want to. The fact that nobody else seems to be sure either indicates, I think, that it is working as intended by RF, to befuddle and bamboozle. Surely TM must be feeling sick and perplexed at the way his company has been taken so quickly to the brink of destruction. And that can't have been an accident. And it seems we're not out of the woods yet.
My biggest worry for the last few years has been not that the science will fail, but that the closer we get to success, the harder it will get to avoid getting mugged. In the last few weeks exactly that looked to have come to pass. I may be wrong, but I get the impression that the creators of this project have been far too trusting, unaware of the sharks they are swimming with. I suspect that recent challenges, namely the MHRA debacle, the unnecessary consolidation, and now this punitive funding deal have been part of a concerted plan to wrest control of the assets, either to obtain them cheaply, or to put them on ice.
I had hoped that the WRAP and placing was evidence that TM had woken up and acted to save the company. That and the Australian move both struck me as pitch-perfect. I am sure he would prefer to be in the lab, but he needs to direct a small part of his considerable intellect to the dangers and complexities of financial and commercial shenanigans. I wouldn't trust anyone, especially where such enormous sums of money are involved.
RF have run rings around the BOD, and will continue to do so until they achieve their objective. Surely they need to be excluded as quickly as possible? A few individuals who should have known better have some questions to answer, in my opinion. It looks like incompetence, or worse.
Apologies for the length. I probably won't trouble this board again soon. And in the unlikely event that anyone referenced above should read this, I apologize if I am way off the mark.
I am no expert at all but can one say that RF was dumping approx 2,9 Mil shares over time and now delivers the lot and shall not being burnt? (No squeeze out)
I remember when the Riverfort deal was announced, the SP was somewhere around 100.
A well-informed poster said RF would drive it below 50, wait and see.
I thought that was a bit unlikely.
Alas, if it were only to 50!