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I see the mathematically illiterate are out in force elsewhere - surprised they haven't made it here yet - by claiming that the deal announced today is only worth £25k (when in fact it guarantees £50k [if really pessimistic] or £200k if you count everything mentioned - with an unlimited upside beyond £200k).
Yes £200k isn't a huge amount - though for Graphene related sales actually it is (and this applies as much to HAYD, DCTA or anyone else as much as it does to VRS) - it does demonstrate that things are moving forward.
Overall the last week has generated ca £700k of income with unlimited licensing revenue - not a bad story and shows that VRS are making progress regardless of what some may have you believe. Now if only they could come up with some news flow in relation to Concrete (and especaily Admixes)
Agreed LSE, this appointment augurs well, as I don't see anyone choosing to join a sinking ship, especially a professional of his calibre. Couple that with today's Korean sale news and licensing deal, then we might conclude that the turnaround strategy is visibly starting to come to fruition. I was heartened that it was some solid, progressive news, for a change and not the much anticipated further dilution. Additionally, I feel that NR must know that this phoenix is destined to rise from the ashes, otherwise he wouldn't be unashamedly chasing it through the courts for more cash - with all of the ensuing bad feeling from ex-colleagues/local business contacts - so he obviously feels that it will be well worth his while. Looking to be an interesting year ahead imo and no, I don't foresee administration just yet.
That is interesting,use99.i hadn't realised the still had the 3d printing machine (i assume from this appointment that they must still have it).
Https://twitter.com/versarien/status/1767186709844828269?t=Lr5dbaA2WNNnHcqRqyfuSQ&s=19
Hardly the actions of a company about to go bust. Far from it. There's obviously a pressing need for this appointment. Somethings afoot. That's very clear
Lse99
VRS lost £3.4 million in last six months.so Versarien Korea saves £250,000 in six months and Ricketts saves around £120,000 so Versarien still loses a lot even after removing your two items.
Versarien Korea Limited, which operated the Korean Plant, made a loss after tax of £771,690 in the 18 months to 30 September 2022. So that's a £771k loss off the books forever plus £604k for the sale of the assets. Ricketts garden leave payments are finished now too. Significant savings and much improved financially going forward
The sale proceeds won’t last 12 months from when accounts are published just look at how frequently it has placed over last 15 months.
The group remains loss making so a material uncertainty over going is pretty much nailed on from auditor.
I suspect net assets will be minimal as well once they record write of intangibles.
At last a patented use for graphene as promised by this company,i take it we didnt sell many football shirts then.
Don't talk rot. No chance of admin. The auditor will now sign us off as a going concern with this cash now on the books. Happy Monday everyone 😀
Will all be sold off and this will be in administration by summer
Due a good here, it’s dropped to the floor and ready to bounce.
Https://lifehacker.com/home/graphene-batteries-will-revolutionize-cordless-power-tools
GLA
Interesting article in the independendent 2 days ago -
"Wonder Material Graphene makes huge step towards practical use "
by Andrew Griffin -The comments in the article are by highly reputable people -Prof Williams I know and have the utmost respect for - ATB Jonno
Very strange to see a rise with plenty of trades, but no comments. I guess the rise is due to this:
https://twitter.com/versarien/status/1756966377154556005
I wonder how much of the placing money is left? Another one coming soon, I expect.
Audited final results were due in early Februrary, according to RNS, but still no sign.
Problem is we don't know the precise nature of the claims
personally i doubt the lapse f time here would be any barrier to a claim in principle.there may perhaps be specific time limits for bringing certain claims,but presumably that will have been considered by his lawyers when formulating the claims.rhere may well be some substance ,however,in the point about his own conduct being partly(or even wholly)responsible for whatever loss he is alleging.impossible to say until we know the details.
You would imagine that one track of any VRS defence against these claims would be why did it take nearly 12 months for the claims to be made, as surely the former employee was disgruntled / hurt / injured when they were originally let go?
Another would be that whilst contractually entitled to the 12 months pay received given the state of the companies finances and the actions taken by other Directors (in relation to cutting their earnings), with the claimant also being a major shareholder of the company, they should've had the companies best interests at heart, rather than continuing to line their pockets. Part of the argument here would be the claimant has culpability in the position the company now finds itself from decisions taken / actions made whilst they were the most senior Director.
Being recorded for later.
Doing his presentation with the Graphene Council on the subject of Polygrene - Graphene Enhanced Polymers. May get an idea of progress through this.
19/1/24 they got away a 0.09 placing market response down 40%.
Yesterday they were 0.157p the spread shown 7%
Dropped again today on Ricketts employment court case RNS.
In the big fallers and risers near every day .
Traders trying to skim the prices maybe.
So VRS finally sniffing the big time and he wants more... cant say I wouldn't do it myself
Probably - that's why it is unbelievable that the fat vag is doing this as it could break the very company that he created - another David Lenigas - I fear.
All just for greed - God how I hate [some] humans !!
Won't VRS need to raise capital for their legal case?
What a vag the f@t man is !!!
RIP VRS