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Clean shell, over£500k cash, no debt and barely any cash burn at all confirmed today. This puts the company in an extremely strong position.

The statement you've qquoted daft is the one that tells me the RTO is close to happening. I read that ststement to mean that after a RTO has started going into motion, it would be tough reaising more money in 3-4 months time. He's stating that if a RTO went into motion today, there'd be no need to raise cash in 3-4 months time because we have enough to get it over the line.

Credit where it's due. I was estimating they had maybe £300k-£400k left, but they have over £500k left. I have to give it to them, they are managing the cash exceptionally well here.

This RNS tells me they are not just draining the pot to pay wages but are barely taking anything out for themselves. It appears they are genuinely seeking to get a RTO over the line at the moment and by the wording it sounds as if they have a target and could be close. They also state no fundraise needed either, which is great.

Did you not read my post?

I clearly said most people who post on LSE and Telegram are crooks and nobody should be investing on the advice of morons on here or on Telegram.

The cash position is a difficult one, but we know the biggest dent in the cash position ocurred when they paid down debts, so you would expect them to be back to low cash burn now. If I had to guess, I'd say they may have £300k-£400k left and would expect a raise once they're down to around £100k or thereabouts.

If their cash burn is very minimal then they may have enough cash to hang it out another 6 months perhaps. Obviously I'm only guessing at all this, but if previous figures are anything to go by it wouldn't be unreasonable I don't think.

The problem with this stock is that the price has fluctuated wildly because of people who claimed they were in close conversation with members of the board who suggested and hinted at this that and the other.

I lie low in umpteen Telegram groups and say nothing, including the FPP one, and you've only got to read what 4 or 5 people who are con merchants in my opinion write those groups. There's a few characters in that one Telegram group alone who are notorious liars and market manipulators by most peoples estimation. For now most of them have gone quiet after ramping everyone in and selling out. Their modus operandi is to alternate between posting a hype statement in the group and starting a ramp, then going quiet, selling out, then returning to hype some more.

I've no idea how much the board of the company are in communication with individual investors, but it's not unheard of for the board of a company to feed optimistic lines to select individuals knowing they will tell everyone and serve as free PR essentially.

Having read some of the messages in the Telegram group over the last few weeks, I note that a few invesors appear to be growing weary and I've even noticed suggestions of action groups to remove the board from one or two, which may not actually be a bad idea in all fairness. The problem with trying to form an action group (I know from experience), is the majority of shareholders are optimistic morons who like to believe the best of the people rinsing them. They tend to wait until a company is completely out of cash and their investment is in tatters instead of reacting to the red flags and making a move before things get worse.

As far as I'm concerned people should not be taking any advice to buy or sell from cretins on the likes of LSE or dubious Telegram groups. This stock as far as I can see is a total gamble currently.

My biggest question here is when this is likely to happen and what has held things up?

I recall the previous debacle here, so I hold Retter in pretty low regard. The fact Brown got involved and cash was raised nearly 12 months ago, and there's been little in the way of so much as an update is what concerns me.

If Freedom is indeed the company FPP is looking at, then why isn't FPP suspended by now? The only few reasons I can think of are either Retter is being awkward, Freedom is nowhere near wanting to list, or Freedom isn't what FPP is looking at. It's all dragged on way too long for my liking.

The bit in the RNS about the possibility of further funds being required is just standard stuff.

If any funds are required once a RTO is initiated, it would likely be for a few 100k to cover a few bits and bobs, and at that stage the raise would likely be at a massive premium to the current share price. Look at the raise from last year for £1m that was done at a huge premium to where the stock was trading a few weeks prior.

Not a fan of the company or its board, but if a RTO is initiated and they actually make something happen here, absolutely nobody will be complaining about a few hundred grand being raised at a huge premium.

JPP, people have been saying "not long to wait" for nearly 12 months here since David Brown got involved last year.

Also, ask people who've been in this over half a decade where their patience got them.

I've no idea what you're looking at that the rest of us aren't

I've made no secret of the fact I don't like the company and the way it's been run over the years, but neither do I agree with people deramping this desperately on every rise.

The fact is, none of us here know anything about what is going on with this. I lean more towards the negative side, but only because of past form.

As best as I can see, any rises here in the last 6 months have been a product of some people claiming to know something everyone else doesn't, only for their claims to turn out false.

How do you propose a RTO occur without issuing shares to the shareholders reversing their company into yours?

That's precisely what I was asking JPP. Why is he assuming the company being reversed into would need to dilute itself to the precisely the share of the new entity it will get before the RTO?

It's an extremely warped assertion.

I don't like this company or any of the people running it. That being said, it's never been necessary for the company being reversed into to dilute itself to the precise share of the new entity it will be offered. That's a ludicrous assertion.

The Brown thing worked to raise cash but that doesn't appear to have come to anything now, and I never thought it would personally. The communication from the board, or lack thereof is rotten here.

When you consider how long Retter has had to get some sort of deal over the line, it's very difficult to conclude he isn't the biggest problem. It almost feels like he's more concerned what the deal means for his personal career going forward as opposed to getting a great deal away for shareholders.

By the time he finds a deal that he is both able to get over the lione and allows him some sort of board position and/or career post-RTO we'll all be in the grave.

This company is so ridiculous. They raised all that money while BTC was at a high at a huge discount, then ended up having to sell the BTC near recent lows to pay everyone off just before BTC started to recover.

The recent business this company has done could have been conducted in a similar manner if some random nob from LSE was running the company.

Treasury companies are currently trading at 0.5 mNAV and SATS is trading at nearly x2 mNAV. Long way to fall you have to imagine now. What an absolute catastrophe this company has been.

That's correct.

A lock-in doesn't mean they can't sell part or all of what they hold off the market.

Given the value of what they hold currently it would be extremely irresponsible of the board not to seek ways to access at least a portion of these profits to keep WCAP afloat and clear any debt. Going back to the market at the present price for more cash while sitting on hundreds of millions of pounds in shares would be the ultimate insult. The board need to address their shareholders now.

And as usual, once the company goes private the board suddenly find a way to run it efficiently and profitably. Funny how that works isn't it. Absolute scumbags.

Like so many BOD's, they always prioritize their own jobs, bonuses and futures over shareholders and the business.

The products here could have been sold and made shareholders a very pretty penny. That would have been the correct thing to do, but they chose to dilute everyone into oblivion to keep their personal cash cow flowing.

Great to see shareholders standing up and being counted. Well done Mr Nugent and everyone here.

Hopefully we see half of the gobshzites running this get booted through the door.

I always thought Brown was a tozzpot to be fair.

He's had plenty of time to do something now. Looks like he's blown it.