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Mrc_mrc_mrc_mrd 28 sep 20:04 post on SCIR BB
"Imminent is often used in the wishful thinking sense."
"I will stop posting here if this gets done by the new longs top date."
The deal was completed 4 days before the longstop.
That may have been profitable for investors buying into HE1 on floatation but abysmal for those that already held Attis oil.
Another possible outcome is that they get out of the AD plant business and become a cash shell company. We have millions in tax losses.
Attis oil helium one springs to mind.
Very strange that although the deal has completed and the first tranch of cash is in the bank the sp has barely moved.
Hoping that the next rns is a much larger deal that brings some profits into this company.
I would think that shareholder participation will be required.
That could be the tricky bit as the board have upset so many shareholders and lost them a lot of money as well.
It will be interesting what their next move is.
Roam these board's with to much spare time on their hands
Did the sp "spike" ever get out of the spread...?
Looks like another failed P&D by Perkins and co.
Ah, you did indeed say loan notes. Apologies for misreading & misquoting.
Nope, because it’s not really debt, it’s equity.
The only debt they have had is the ARA loan which was really an advance until the deal completed.
The BOD have issued a lot of shares and stripped the company assets to fund themselves and their associates IMHO
Mrc, that first sentence in your reply doesn't make sense in my opinion. If a company has only ever been able to secure 'death spiral finance', then wouldn't it be a miracle for that company to become debt free?
The history of Scirocco is clear which is why the market has wanted nothing to do with Scirocco since the KN1 shut in.
To come through 6 years of b.s debt free, I think is worthy of a pat on the back.
It’s not hard to be debt free when you have only ever been able to obtain death spiral loan notes!
The fear is that they have been able to destroy quite so much shareholder funds, and transfer money from the company to related parties.
They have done an excellent job.
All in my opinion
A pat on the back is certainly in order. The current board, despite some frivolous financial shenanigans have managed to cut all the dead weight Scirocco has been carrying.
To be a debt free liability free company is an achievement. The Board now has a clean slate, the company has been zeroed and they can actually steer Scirocco onto the path to profitability. Or the can repeat the same mistakes & flitter away a positive cash balance on G&A, fees & buying into business that won't return a profit for years to come.
Until they outline how Scirocco will achieve that, I am still committed to selling 100% when the Shareprice climbs a enough for me walk away with my tail between my legs.
I would imagine the will have something ready got go imo, we could get a pleasant shock fingers crossed
Imo they have had plenty of time on their hands waiting for the deal to complete and the first tranch of cash to arrive, I dont think we will get a one dyas size deal but one that requires shareholder participation and starts bringing in a lot more cash than a couple of AD plants.
Maybe even buy another business with ready made income.
Shouldn’t think that long to wait, weeks not months Imo.
Really its remarkable that this deal has been completed, Neil Ritson told me sometime ago that the Zubairs had openly said to him they intended to spend SCIR (SOLO) out so we never had enough money to fulfill our cash obligations and would be forced to relinquish our shares for free, but luckily a buyer came to the rescue, many may say its a bad deal, but if we never took it we would have probably got nothing imo.
You can be invested in the best company in the world and lose money or the worst company in the world and make money, its all about timing, it's when you buy and sell. One thing I do no is what ever gets posted on here doesn't influence the share price either way. You see there will be a lot of people who make 60% profit yesterday, I don't think they will have a bad word to say about the board.
Wow!
So you have lost 90%++ of your money and still happy with the company and BOD!!??
Quite incredible
Could see a suspension as we had previously on the announcement of a new deal,I don't believe the BOD have been sitting on their hand until approval, if they have anything about them they will have something ready to go imo
Scirocco finds itself in a very strong position and I for one am glad that I remained confident that the deal would happen as expected, not something that I think everyone even close to the tent were so confident. This deal leaves the company with no financial liabilities and clean as a whistle with money in the bank to continue with the sustainable energy policy.
The management promised to reengage with shareholders following the Ruvuma deal and that is what they are planning to do, the opportunities are out there, the team have a strong idea of what is best for the future and to create long term value. And they said it wouldn’t happen…
Im still here been here since at lease 2009
I’m Expecting news of new deals very shortly, the board you would imagine would have things ready to buy into, and financed of the the back of incoming promised payments, they won’t be waiting till the money comes in imo
Lol of course they read it SHS!
You might remember some rather harsh interventions they made to get BD suspended. And the squad of lawyers they spunked several hundred thousands on to defend them from shareholders revolt!?
No word from Nicely today. I wonder if he was just mindlessly ramping, or whether he actually dropped 10k or so at 0.67p?
One thing is clear…more posts on the forum than trades made…
If the Board members are reading this, please outline a path to profitability & how long it is envisaged for that to be achieved.
Maybe he should have said that if the deal goes ahead before the long stop date he would post even more than he already does on a company where he has no shares lol.