Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
They have far, far, far deeper pockets than you, and can take this share price anywhere they want. If it is at 0.7 while you empty your piggy banks before they crash it and convert at 0.5, that is what they will do.
This exact outfit have done the same at SBTX (where they were given the boot yesterday), and the same people at VAST and others.
Wake up.
They're nowhere near done yet. Another 5m sell declared late yesterday.
Remember any and all buying, especially telegram mug payday topups, will be aggressively sold into. If they can forward sell 0.05 higher, they're delighted. You mugs are only encouraging them.
I assume you've seen something in your tealeaves.
If you're a chartist, I pity your different level foolishness.
If you could tell anything about future movements from past movements, you'd all be billionaires. You can't, which is why you're probably the most gullible mug punters of the lot.
And being a good, loyal golden ticket holder you would have said exactly the same at 4p, 3p, 2p, 1p.....
Questions :
1. How much better off would you be if you had heeded my first warning to sell in early November?
2. When are you going to wake up to the fact that you've been shafted?
Remember, any and all buying will be aggressively sold in to by the CLN holder. It's why the bid is not rising on L2.
And with all the noise last night, my questions on the now near impossible RTO approval have been conveniently buried.
So the board assert on 13 February that the RTO is still happening, on terms materially similar to those announced in October 2022. Again, we have to ask ourselves what is "materially similar"? 921m shares or £48m valuation? Because now at 0.65p, those remain two very different things.
I maintain that against this backdrop the chances of the regulator ever approving this RTO, with all that has gone on, are as close to zero as makes no difference.
Let's just look at some facts around this RTO - "when not if" according to The Chain and his happy band of telegram mugs.
First announced 19 October 2022, well over a year ago, expected to complete at the December 2022 AGM. Initial terms indicate will lead to the issue and admission of 921m shares at 4.32p = £39.8m.
Since then we've had, according to RNS
A few fundraises, supplier payments with shares - dilution
Death spiral with Macquarie (Atlas in the background) - more dilution
125m options granted at approx OMV (but now well under water) - even more potential dilution
Lots of expensive "industry experts" onboarded
Lots of RNS Reach communications (non-financially material noise) around Leinster and Cameroon
A fire (or two)
RTO update 30 October 2023 (just after the anniversary of the first announcement), says expected to complete "early Q1 2024" on terms that will be "materially the same" as those announced in October 2022. Is that concerning the issue of 921m shares? A valuation of £39.8m? Because by now with a share price of 1.35p, 921m shares and £39.8m are two very different things.
Then the RNS that first got my interest - 7 November 2023. Margin Loan Facility between CLG Capital and Century Cobalt, with TM1 shares as security. How CLG could potentially de-risk that borrowing didn't take long to work out. Then when looking into the characters and chancers involved in what the company assures us is its past (oh yes, despite there being various offshore vehicles and nominees we are assured that the beneficial owners are all fine upstanding people) I start to fear the worst for the small mom and pop shareholders in this little bunco. The share price starts to drop almost immediately despite some buying, because of heavy selling (as I predicted).
Warrants extended - a definite sell signal
Replacement holding announcement - "administrative error". Another big red flag.
Then a quick rally around the AGM statement, indicating that the RTO Prospectus should be circulated in Q1 (note the slip from complete in early Q1). Revenues are a paltry £372k for the year, barely enough to cover one month's costs.
Then whammo - 8 January - £5m death spiral also with CLG. £1m drawn, another £1m can be drawn before RTO completes. This is no doubt to provide much needed cash for overheads, and to prove liquidity to the regulator. Obviously it does anything but.
The same RNS covers the repricing of warrants, but almost none are exercised as they go immediately under water. All that achieved was to crash the price further.
It has been downhill ever since. Very little news during the lock in to support the price, all buying has been swamped by large sells.
So the board assert on 13 February that the RTO is still happening, on terms materially similar to those announced in October 2022. Again, we have to ask ourselves what is "materially similar"? 921m shares or £48m valuation? Because now at 0.65p, those remain tw
More free education for you - they can hold out as long as they like pal. They do not need to convert to any specific timescale now the lock in has passed.
As of today a related party could forward sell the rest of the holding to be converted into existence and crash the price. They may wait longer though, to drip-drip more shares into mug punter topups at these prices before crashing it with the last 20m or so.
The rest of your post is prima facie evidence of Stockholm Syndrome. Seek help before it bankrupts you.
This company, its related parties and enablers are exactly the bad actors I describe.
If the CLN holder has not converted today, and none of us not on the inside know whether it has or has not, it is because it feels the share price will go lower, or can be made to go lower.
As a reminder, the lower the share price the more shares it gets for its £1m. At 0.6p it gets 167m shares (9.8% of the company). At 0.5p ot receives 200m, 11.6%. Its motive for holding off UNTIL just after the price rises is clear. It's a one way bet.
Your logic for how it should act and the timing is flawed. I conclude that your "payday top up", the type of mug punter behaviour that encourages these chancers, will work out as badly for you as all your other purchases.
So maybe another 10m churned out to mug telegram punters in the last few days. Plenty still to go, and as of today the conversion notice on all £1m drawn hanging like the Sword of Damocles.
Last seen the cash burn was about £300k a month, there has been little news since to move the dial significantly. Last drawdown of £500k was on 18 January. When is the next CLN drawdown / grant of warrants RNS?
Sjb777 I was slightly more generous with the assumptions and had 100m churned, 50m to go.
But if the noteholder can drive the price down to 0.50 in selling those 50m, the conversion then creates 200m shares, so another 50m to be churned after that.
And yet some people cry foul at the use of the term 'death spiral'.