RE: Outstanding money8 Jun 2023 09:45
A fool and his money springs to mind, but maybe we all fall into that category still remaining shareholders. You do realise that since the 2.5p raise you could have received a similar return invested in SPY /S&P 500 for a fraction of the risk.
I was once a fan of the management but they continued to underdeliver and spout baseless claims on interviews. Ultimately you are left with a shell company with a) a dreadful product (read trust pilot) and b) a high likelihood of them burning through the cash and diluting shareholders further in the near future if they are not careful. I then question whether my money would be better invested elsewhere on aim and the answer is undoubtedly, yes. A common frustration has been the lack of transparency with this company, are we any nearer to hearing of this acquisition that the team has in mind? We are now 4 months since the RNS outlining the disposal of LBE. Given LETS is still trading, maybe they would like to update shareholders with a trading update... oh wait, I imagine its probably performing dreadfully.
My point from yesterday still stands that the outstanding cash is not for the team to play around with as they see fit, there needs to be a strategic and coherent business case for doing so - I fail to see how they can provide one in this market. A friend of mine who works in the city spoke to the team prior to the broker change to Cenkos, he referred to them as bandits. I'd have to agree if, as Horsetrader suggests, they look to invest in one of Higginsons existing ventures. If this was to go ahead I believe they would continue to fail in having shareholder interest at the forefront of future decisions.
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