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Indeed Twink99, well said.
It really wouldn’t harm things though if the company were a little more forthcoming on publicising contracts that land. Perhaps just a tweet about any that are above the value of £25k or so would create a steady stream of comms that’s unarguably positive.
Would love to see a Director buy or two just to turn the current tide. If they’re working on this potential JV though does that constitute a closed period and forbid Director purchases?
Just to get rid of this silly "placing" nonsense. The company raised £500,000 in secured convertible loan notes which was announced on the 3rd of May. The "shorters" forgot to say this. The company has already raised additional funding without the need for a placing.
May I remind people of what the company have actually said " The company have adequate resources to continue in operational existence for the foreseeable future" and "may need to raise additional funding in the NEXT 18 MONTHS". There are a small number of people that wish to gain from the fall in the share price by mere rumour. The company is right to remain silent on these rumours and treat them with the contempt they deserve.
Mms dropping it even on the first trade of the day. They are desperate to get it down. Director buys coming soon perhaps, whilst it’s as low as poss?
What ever, given the recent RNS this current drop does not add up. All the Sells since the RNS don’t even add up to £100k so how can a company with mcap of what was about £4.5m lose nearly 40% on potentially transformational news? Time to switch off from here for a week or two. Think it’ll come good soon.
Roger I totally agree, to drop the market cap on such a small sell difference seems to me a little extreme. Tomorrow may be very interesting. We will see.
Twink99
It’s dropped hugely these last few days on very low volume. The cynic in me says don’t trust mms and that they there’s a good chance this will come good. Very good. And they’ll coin it in. Last week this was hovering at 1p and now it’s 35% down! Something not quite right given the RNS heralded something the Chairman pointed out could ‘transform’ VDTK’s future. Hmmm
Roger I do tend to agree. I’ve been watching the drop in case I got tempted and have just shelled out 7k prior to close today. I was hating this share some months ago after all the fiascos, but I’m mighty impressed by their product currently and feel a snifter that things are in motion. I may well rue this day.
WOW someone just sold 65pence worth of shares and the price has dropped. The difference between sells and buys is less than 1.5k and the share price is down nearly 10%. Folks I have no clue what is going on here.
Both my buys this morning, value £210.05, being reported as sells. Probably being a fool but I’ve long believed vdtk will have its day so bought in the dip. If one or two other stocks in my pf have ac good day I’ll keep gradually lowering my average. Come on Rob Richards, let’s have something positive and ramp-tastic please!
"shorters" someone has just bought 8 shares for 7p. Vultures are not known for their bravery. Are you sitting there sweat running down your brow, hand trembling over the buy button. What are you going to do?
*has only just started…
You’re right shave but…there were contracts amounting to £395k in the first half of 2023. We have no idea just now how many more sales there have been or the income that can be expected from them in this second half of 2023. The increase from the previous year was substantial and, given VDTK hasn’t only just started selling its products in partnership with Lindab AB this year, perhaps the financial position might just be a little more secure than some here fear? I have no idea but if the products are good then there’s no reason to expect fewer sales contracts will be forthcoming after the marketing work undertaken by Lindab and Metrotile earlier in 2023.
Twink99 thank you for making me smile for once when reading a post about VDTK.
I will say that there is a "near term chance of additional orders" That means there is no "guarantee" of orders just the same that there is no "guarantee" of needing additional funding. The company is right to mention it though. All the "shorters" have to buy back the same number of shares at a lower price than they sold at to book a profit. We all know what will happen when the first ones ( or clever ones ) start to profit take.
Twink, the company themselves have highlighted that there’s a near-term risk of requiring additional funding. That’s not a rumour. If you can prove that they’re rolling in a profit to avoid that, that would be most welcome.
The bottom line here is that actually there hasn’t been any bad news at all. The only thing eroding trust, confidence and sentiment is the non engagement with share holders by the BODs. So we’re all left guessing what on Earth is going on and what they’re up to on various issues. A simple update on sales this year would give a welcome shot in the arm but it’s just not what this Company does for reasons I went into in a recent post re TW.
WOW a placing?, delisting? what next. Maybe a sex scandal or that someone thinks Putin is a major share holder. All the really nervous people have already sold at a loss on nothing more than rumours. The "shorter crew" need more sellers for their plan to work. On a lighter note ( no pun intended ) if a company that makes solar panels cannot keep the lights on, then they are in trouble.
And if they’re nearly out of money where do they get the next bit of funding from needed just to even keep the lights on? Put it all in themselves?
BODS have massive number of shares here. If the Company does well they stand to make millions and millions. Taking it private would also damage all their reputations, and they all have other business interests so I’m not sure your drastic prediction makes a great deal of sense.
I hope I'm wrong but this to me has all the looks of a delisting by the management team. It's happened to me at least 3 times on the AIM. I hope I'mwrong but there are a lot of companies run by shysters on here who fleece the investors then when timing is acceptable do the dirty. Just my opinion but I speak from costly experience.
In one of my rare optimistic moments I keep looking at the Chairman's statement in the recent RNS and feel a wee bit excited.
'....the potential to transform the outlook for Verditek.'
In one of my many pessimistic moments however I think of how many times I've seen that kind of statement in RNSs from AIM companies and my shoulders drop a little...
If it's confirmed any time soon - anyone know how long these MOUs can take to come to fruition? - then we'll be looking at a very different kind of share price this side of Christmas. I hope.
Tell me about it!
I should add that the market cap has taken a beating and on paper some people are down by a large amount.
£25k of share sales is nothing in the big picture. True it is moving the share price down and some people will make some money but it is the large share holders that the board will be keeping in the loop. When the herd starts to stampede on a "fear" it takes a little time for things to calm down.
I agree on sales and that's why I don't understand why the company can't even put out simple twitter posts informing share holders of new contracts. It would cost them nothing but do immense good for sentiment. Companies who stay silent for long periods always end up losing the trust of investors looking in and from those who are already in.
VDTK just seem to think that saying absolutely nothing is acceptable once pis have handed over their money in pressing the buy button. They have responsibilities to share holders and also in attempting to attract new ones. As a Director you can't expect support if you ignore your share holders completely. Clearly they should be able to see from the sp action over the last 3 or 4 days what the market thinks of the way they're communicating information...? And that it isn't working...?
Do something. Say something. Anything!
Even though I may lose money on my investment I feel that on the sales side the company has done really well. Year on year sales up 4 fold. Half year turnover almost equal to the whole of last years earnings. Even stripping out the Metrotile order sales are running at over £10000 a week up until June. The Metrotile order should have been paid by now so short term cashflow is not a problem. On the actual achieving side I give a thumbs up, communication is however dire. The company has not rushed out a panicky statement as yet so that may be something.
Regretfully I know from experience this company gives out the bare minimum in terms of updates, and really only when it’s absolutely essential and unavoidable. Other than basic company news and price monitoring RNSs this year the company has only put out 3 comms. One was announcing the end of the agreement with a distributor pretty much before it had even got off the ground and then announcing a new agreement with Lindab AB and the recent MOU with NZV. That’s it. I don’t expect anything other than what they are forced to tell the market. This paucity of comms is apparently down to the fact the CEO was regularly attacked by Tom Winnifrith and his crew on anything they put out. It seems the CEO, Rob Richards, is terrified of Tom and so we now hardly ever hear of what he or the company are up to and what they’re current or long term plans are.
vDTk has got huge potential but the way the company is run leaves a lot to be desired. Unless they’ve really got things to hide then they need to front up and ignore TW and his like. Hopefully there’s actually some good news just around the corner and this current dip represents a good buying opportunity. If VDTK land this deal with NZV and get things right the potential market is vast and global.