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IF you are the COO or CEO of a Business. Even a Sweet Shop No matter how little experience you have of Managing that Business. You can Afford to make a Few mistakes and Learn from them. RE: By Mistakes you Learn!. BUT You CAN'T Keep doing It without the relevant Consequences. Such Consequences has resulted In Most of the SHs In Valirx being Left with
Nothing, and I'll say So Far In case by some Chance "Something Will turn Up". Like GM/SATU GIFTING the CO the Money to Keep Going. In Doing So Proving to SHs that what We've being Informed of In respect of, How Good the Compounds are, That there IS Pharmas etc Willing to Invest In the CO on What they have been Shown. Feel Free to Correct me. IMO.
I suspect they are now trading whilst insolvent. Should get them barred from being directors. I trust the nomad is paying appropriate attention to their responsibilities
A BOD Need to Always Treat their SHs with Respect. Especially the SHs that INVESTED in Dumped Placings. Not being recognized AS ONLY being Second Hand SHs. Really Does Seem the almost Contempt that those SHs are held. Feel Free to Correct me. IMO.
Thoth2, the last balance sheet did not indicate that the company was insolvent. The BOD advised that the company would not be able to trade if we didn't approve the consolidation, they did not offer any evidence that Insolvency is on the cards. However its all moved on now since covid 19 as the chancellor announced a week or so ago that the resructions around trading when insolvent would be relaxed. As the EGM has been cancelled because of covid 19 I don't think they would fall foul of trading whilst insolvent. Its much more likely that the creditors will pull the plug on them assuming that the BOD's threats have merit.
https://www.lse.co.uk/rns/VAL/result-of-general-meeting-and-working-capital-update-4s98uxp3v7v1uuy.html
Directors own statement. 6 weeks trading from 17th February.
We are two days beyond when the directors themselves in an RNS said they coudn't trade.
Granted, that is what it says, but it does not explicitly say that the company is insolvent. It only says it is unlikely to be able to continue trading in 6 weeks. Reading between the lines potential Insolvancy would be a reason to stop trading but again the statement does not explicitly state this. As we have all noticed we have gone beyond that 6 week period. are we in the relm of what is beyond unlikely or is there reason to think the company statement was just bluster? Not suggesting anyone is wrong here only suggesting taking the company statements with a pinch of salt.
Granted, that is what it says, but it does not explicitly say that the company is insolvent. It only says it is unlikely to be able to continue trading in 6 weeks. Reading between the lines potential Insolvancy would be a reason to stop trading but again the statement does not explicitly state this. As we have all noticed we have gone beyond that 6 week period. are we in the relm of what is beyond unlikely or is there reason to think the company statement was just bluster? Not suggesting anyone is wrong here only suggesting taking the company statements with a pinch of salt.
More so, the director(s) that made the statement?
As it may not necessarily be all of them?
More so one, poss two...
But, we already know from bb & social media posts, one is very rogue and so Id say until we get a full BoD report, we should
consider the threat of closure a tainted and biased one!
only imo of course!!
Im not upping or downing. Just pointing out trading whilst insolvent can get them barred as directors. Its not a surprise as their own rns said it would happen by now. So there is not a legal leg to stand on. The nomad is aware and has insurance. For disgruntled pis where directors and advisors have not discharged their responsibities. Its not a surprise. It was in an rns. Who has the biggest insurance policy? Lets find out