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Well the only option seems to be, to keep buying. For me it’s averaging down. But will by another £2k at the end of the month. At some point we will have bought all the sellers shares.
What’s the market cap with the new shares? Don’t think LSE have updated.
Also, someone explain that rns, what price did they issue shares at? And did a director take £100k? All a bit confusing
The total shares will now be: 653,102,371.
The shares were issues at 0.44p and then sold in the market at 0.044p to allow the £900k debt to be converted into £100k cash and then of that £100k, £50k was given to 1 Director and £10k to another....
Hope that makes sense, as it doesn't makes sense to most of us. But it does seem like a good deal though unless we are missing something. Only speculation but it seems that needed to get sorted for the company to move to the next stage (whatever that might be)....
Doesn’t make sense! Thanks though
I tried my best ;). Anyway assume the 2 trades today are buys? Need a few more of those….
So what’s the mkt cap then? Did directors buy shares? I assume no debt now? Cash position?
Well if you take the 653,102,371 shares and multiply by 0.045p (mid price) although it's probably closer to 0.0415 at present then the market cap is: £293,896.07.
The Directors didn't buy any additional shares on top of what they already have.
Yes the company is debt free as far as I know. There is I think one development on the go which they normally get a loan for that gets repaid ones properties sell. Have a look on their website.
What about debt that got converted? Don’t understand that
Tried to explain it below. In effect the debt was converted into shares. The shares were then put back on the market immediately at the reduced price (0.044p). Those shares raised a £100k in cash of which £50k was paid to one director and £10k to another. How that works I have no idea. Not sure if the guy (who's name escapes me now) owed some money to the directors or there was some deal but in effect we have gone from owing him £900k to not owing him anything for effectively £100k worth of dilution.
Happy for anyone to correct me and that if they think better.....
Well that’s fantastic and I understand why this moved 70% the day it was released. Not sure why it’s right back down again?
The market is a ponzi, next time this is up 50% they will pile into it again. Risky but they were paying 0.07p on last spike and now because of the seller/overhang people are getting size around 0.043p, will check limits to see if the price has increase to mid price or higher after that 15 million of buys
Kwota. What amount is a notable stake here ? Might buy more but do not want to go over 3% which could be easily be done here given the tiny market cap
Davey before the dilution I was at one point over 8%. Informed the company but as I’m holding my shares with Interactive Investor it’s stated under their name on Trafs website. Been buying so probably now around the 5% mark again…..
Hi Kwota, Think your reading of it is correct.. the loan note from 2022 has been converted into equity, which then means no further repayment of the 900k is required (good news!)
The 100k raised has been reinvested fully (I read it other way that they have subscribed to pay johnson those sums - but no idea if I’m off or how it all works) but think it’s fairly telling it’s been reinvested into traf and Johnson has taken another cln.. does seem like cogs are moving and time to buy and hold. Even better if we have two 3% plus holders on here!
Potential even tomorrow find out more with larger buys going through.
They must be working the rest of that sell order, 5 mil buy and it's still 0.0428p to buy online
I personally hope it stays low until the end of the month. Only able to buy more then :).
Hmm that’s pretty good
So am I right - under £300k mkt cap & now no debt?
Business completely revamped
Bang it's gone the cheapies, 0.0495p to buy now almost full offer. Must be close to filling the sell order. I bet a 30 million block approx shows later at 0.04p
I would say debt free, yes. But not sure about completely revamped. I think this is why it’s so cheap. It is a property development company that doesn’t really develop. It invested in Hydroponics a few years back and nothing has come of it. I would however say that certain interesting parties invested heavily in the company who’s got major interest in the oil and energy sectors….and that is my reason for taking a stake early. Any news of going into that sector and this will go ballistic.
But please do your own research and buy on your own accord otherwise I will be told soon I left people holding the baby (quoting petroinvestor)
Own up, who’s buying all the cheap shares today? Please leave some….
It's popped Kwota I've been testing all the way down 5 mil NT 2.5 mil NT 1.5 mil NT and the 1 million available has just been took, overhang cleared.
Looks like NT for any value at mo..
Am I right - they cleared their debt at 10x higher?
Also to add I found Kwota very informative when choosing to invest in here