RE: Contract award7 Dec 2023 22:51
this company took 6m in revenue, which cost £9m to generate. meanwhile the debt to gordon watt increases as he bleeds the thing dry - currently owed £1.8m, not to mention a further £1m in convertibles. almost the entire market cap is owed to gordon watt!
to put this another way, for your 8p buy in here, you can lose 6p per share in losses over a given year, plus 2/3 of that 6p you owe to gordon. he can also half your 6p when he converts the loan (or delists it). if you read the rns's the reasons for this range from boris johnson, the ukraine invasion and of co**** covid. he might be right to blame some of this on the economy, but reading many other companies reports, they seem to have managed. could it perhaps be the systematic approach to burdening the company with so much debt to him that is really the problem here. its basically un investable.