Member Info for AIMing_high

Linton: I agree. Really pleased to see.

Mike: for me the size does matter. This is hugely undervalued (in my eyes) and it’s a chance for them to make very easy money (granted, it’s harder for them to subsequently sell…but they could put a decent slug in their pensions and not sell until retirement (which ain’t far away)).

Normally I feel bitter sweet on director purchases as it means no imminent announcements. But we don’t need one. We just need the cash to start flowing in, and we already know that starts over the next couple of weeks.

Bohercom: fair point. (And apologies Reece). I was looking on Bloomberg which is normally pretty accurate) - he does own more than me….thanks god!

Reece: he’s really not. He’s done a little top up. There’s no way his only spare cash is £5k. He’s been well paid for decades, is 70 with kids that have left home.

I’m not complaining, but let’s not over egg this.

And he doesn’t own 8m. Even I own more than him. (Options aside)

Pete’s bought a few. Only £5k but better than nothing.

2.8p please

Maybe we should have got our end July bets in before today!!!

Misty: M23….we’re dealing with Africa, this is why the margins are so high. I think the government should be able to hold off any more potential coups. Fundamentally, once we’re in and established then it shouldn’t really matter whom the government is. Why would they want to take over and then disrupt the international air travel that will be ever more important to their economy?

As a rather cold aside, DRC is a huge country and our contract really just needs Kinshasa to be operating well to be profitable. So skirmishes in the other areas of the DRC are much less important to us (from a purely financial perspective)

Not sure I care about no immediate dilution. They’re going to create another 33m shares in 12 months, so as far as I’m concerned we’ve had dilution . If we’re still below 3p then we’re on real trouble.

That said, we’re looking at c.8m in revenues by July 25, which is great. We should also be heading to c.50 margins from year 2 and 3 so serious profit.

This is exactly the sort of project that UK Finance should be funding. I’m hoping with DRC in the bag and operating that the next MSC will be easier to fund

Would be lovely if they could follow up with another director purchase tomorrow (don’t worry, I’m not holding my breath).

By my maths, day 90 is the 10th, so I’d expect revenues to start late next week. I’d wager we’ll get some form of RNS confirming that. I’m (maybe naively) hoping that that will be something a SP catalyst.

Misty: debt is expensive these days. High yield companies (with proven profitability and PE backers) are paying over 10%.

I’d have much rather paid 15% or even 20% for a non-convertible loan. But that’s because I have such confidence in the share price over the next year.

Shame the BoD can’t stick £50k a head of their pensions in this thing. I totally get why, and they can always give themselves huge options to get shares. But it would be nice to show real conviction that the share price is laughably low.

I’m hopeful we can get some form of update next week when the contract starts properly. But the financing would imply that all is going to plan.

My backstop thinking is that every day that goes by will just lead to more cash in the bank from next week. Don’t really see how we can’t be profitable this year now.

Ian: that would be fantastic, but I suspect we will get the dilution in 12 months. I’d expect that by then the SP should be much higher than now.

The other thing to remember is that because this will be hugely cash generative once up and running, it will be in a position to help fund any future MSCs won.

I’m not counting any other contracts until they’re signed, but this should put us in a great position to get them off the ground once won.

Win: I’d have to agree. Great to get the financing sorted, but there is clearly dilution. Nothing for at least 12 months, and at a premium to current SP at least. I’m hopeful that once the revenues start to flow we won’t need to draw the additional £500k, save on the interest and any additional dilution.

The warrants are just a rounding error so I’ll happily ignore.

Now I guess we just wait for the revenues to start rolling in and hopefully the next MSC. The margin on this should be in the region of 40-50% once fully up and running, so there are some great profits yet to come.

Vander: yes.

Iano: I suspect if it hasn’t moved until now, it won’t move until news. So I doubt we get much movement u until they confirm that the contract has started and money is flowing in.

I’ve been here a decade, what’s another month???

Mike: don’t you mean several debt options on the table? That’s was my read. I felt that equity was not remotely on the table (but not 100% ruled out, which they never can do as they can’t see the future).

Manx: by my understanding you’re right. But I don’t think it’s an if. They have enough cash for initial start up, but will require additional funding. But revenues (which should be in the region of $5m for the remainder of this year (assuming the revenues are split broadly evenly over the year)) will be used towards the ongoing set up costs.

I think they’ll do a debt funding of some sort (if they haven’t already) and actually think they may try to pre fund the next MSC (assuming it’s as close as they hoped).

Ian: there’s probably not much to say. Hopefully we’ll hear once revenues start.

When they can give us a more accurate feeling on passenger numbers we may get a bump. But I suspect we’ll hear about the next MSC before too long and that will hopefully really get us going.

Moz: I haven’t added for a few weeks….i am so over exposed it’s embarrassing. I’m going to sit on my hands. I think that this contract is a great one at this price (assuming nothing happens to the country) but I think the real kicker comes with the next MSC. The market is clearly still in a disbelieving mood. But it can’t ignore it if there are 3 separate contracts in 3 separate countries.

I have hope that this will tick up once the revenues start to flow and people realise that the contract is real and actually happening without an equity raise.

Ian: aren’t you saying that the one place the price won’t be is in the middle??? ;-)

I think there will be silence. Year end share price will be very interesting. I think any guessing over the next 3-4 months is incredibly difficult.

2.6p please

Mike: I hope I’m not in the hot seat in 2 weeks!! But then everything takes longer than you’d hope, hence my guess.