Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Don't forget some of the risk taken on by RiverFort/YA was quite possibly reflected upfront in their convertible loan fees of £502k.
.
This company suggested that it believes it is a going concern based on it past experience of raising funds?
There you have it. It is based on past experience. Lets hope past experience does not guarantee future prospects. Yes YA must convert but it will leave so few shares left. Will it need more authority to issues more shares? It is time guys to refuse and take no more. Let it die. RIP
AT what rate the next conversion by YA? 0.02 is my guess. or is it 0.01?
At it will raise so little money...
And still no one confronts them on X or social media. I don't understand that. They have a twitte/X account and people should be dombarding it and demanding action from these morons
Can’t even blame bad luck, bad luck was dropping the tools down the well, this is a total shambles an incompetence at the highest level from someone on half a milly a year, OR, it’s just been a massive scam the whole time.
Failures like this don’t happen overnight, this has been ran into the ground by a total clown of a CEO over several years with moronic decisions and awful gambles with shareholder money, all whilst taking a huge salary. It’s actually very clever what Sanderson has done, a modern day Ponzi. I can’t believe there are people who still defend him 🤣😂
I would think the people who received them seven years ago would be sick as pigs that they cashed them in back then, were that the case.
They are just desperate to get as much of their money back as possible.
RF/YA would love the SP to go up as that's the only way they can get their money back. UKOG have a fixed number of shares they can give RP/YA which at the current SP isn't enough.
Annual report. Extract from "going concern" ;
"....the Company, if required, will take actions to address any cash constraints by seeking to raise capital through equity or debt. Whilst there can be no certainty that sufficient funding can be obtained in the timescales required, the Directors are confident of their ability to raise capital, which is supported by successful capital placements in the past.
For these reasons the Directors adopt the going concern basis in the preparation of the Financial Statements however confirm that there remains a material uncertainty that may cause significant doubt over the going concern nature of the Group.
The independent auditor's report also refers to material uncertainty related to going concern."
Do not say you were not warned; raising "SUFFICIENT funding". Can not be done now by issuing shares, imo
Its ridiculous that a company can declare them selves a 'going concern" on their past history of issuing confetti.
The game is up.
Is this drop orchestrated in order to convert at a lower price? Every time we see these companies involved in financing there appears a death spiral. Although we are told shares are not shorted, but it is funny how the price goes down to a level where cash is exchange for a lower share price. Is this all orchestrated? Sill how much can it raise and with the exchange be even lower and at a bigger discount? Looks like Administration beckons.
To be honest, I don't think there is much chance of anyone being dragged into this stock, it only takes about 5 mins of some basic digging and it is clear that this is doomed... anyone trying their hand on this one deserves a top medal if they can spin any micro profit from a quick trade. There are far better stocks out there to take even a high risk punt on than this dead dog.
Ocelot still trying to polish the proverbial! And drag others in to this mess? You and that other character FOTH have a lot to answer for, you both should be investigated by the appropriate authorities, there’s something not quite right!
I haven't owned for a couple of years.
Just because you don't own doesn't mean you don't have an interest.
If you're interested you can post.
Don't let the nutters here (of which there are plenty) influence you.
Hitting new records every day. When’s the pound party. Remember that one a few years when I bailed out at 2p.
Any company can apply to NSTA when UKOG's PEDLs lapse due to insolvency.
AimDogs,
I thought of that but decided against it: please correct me if I am wrong but I believe UKOG's licenses are specific to UKOG.
Ocelot. I think if any entity is interested in any of these assets the entity will wait and get them for bottom dollar when UKOG goes into administration.
Prior to the latest 200,000,000 issue the loan balance was £545k.
Say they manage to get 0.035p (being generous) for each share then that's would reduce the balance by £70k to £475k.
UKOG has authority to issue 1,220,034,718 new shares, if they all go to RF/YA and sell for 0.027p that's would generate £329,409.
So even if RF/YA are immediately issued with all the allowed shares the loan balance would still be at least £145k.
Administration must surely be coming very soon.
A favourable supreme court judgement; a farm-out of Loxley (still the website's home page photo after more than a year); the successful conclusion of discussions with one or more international investor(s) re their participation in Portland.
The list of potential positives remains the same while the share price succumbs to the lack of new updates.
This is the final part where the Titanic breaks in two.
Apologies for posting as I do not own this share anymore , dropped my cods like every other person.
I just cannot believe the brilliance of Sanderson , he has literally robbed the bank in full view , and I imagine he will attempt a last hurrah.
I got sucked in by the absolute BS , but at the end of the day only MR Sanderson has won. And for that I applaud him , hopefully he gets his come uppence at some stage.
The company has stayed afloat as people were daft enough to continually buy its shares despite the history of failure. Looks like no one want to buy any more. So technically it can no longer to continue without selling shares. We know it is attempting to sell shares as that was why it requested authority to do so. I cannot understand why investors gave the company authority. They knew they would be wipe out in another heavily discounted share sale. Its the end no matter what the out come. Could all end this week or even days. The company has to announce it is having difficulties to to raise capital and failure to do so would put the company in jeopardy and administration. WILL IT MAKE THE NECESSARY ANNOUNCEMENT? Cash is gone and the company is not a going concern? LAST CHANCE SALOON . RIP
"You still can't polish a turd can you?"
It will not stop a few trying... and the dumpster divers will be sniffing around to see if getting covered in bin juice is worth trying a trade. Just got to be careful that the bin has not been used by dog walkers to dispose of their dog 5h!t.
If anyone buys more than £34k worth they have to issue a 3% holding RNS