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Folks - ASI is correct.
LVCG need to submit their audited accounts to HMRC as a PLC.
If there's an admin delay then after 7 months of grace period there's only one party to blame.
Let's not pretend there's an excuse to blame anybody other than the board of this company.
There's an important difference between sympathy because of a technicality with a deadline and the fact that these accounts refer to FY2022. The deadline for initial submission was AFTER 6 months AFTER the end of the FY.
We are now 7 months AFTER the deadline, AFTER 6 months AFTER the Year end.
So for those who don't get it - we're 13 months behind.
This isn't an accident. It can only be because of a terminal incompetence or a terminal fail in ability to show we're a going concern.
Please, we're grown ups, let's not try to find cheap excuses.
I am pleased to report that after last night's post I have just received an amended communication from II.
This one now points out this is a possible delisting on Feb 1st but LVCG are planning to publish accounts before that date.
Somebody is listening - hurrah.
I'm concerned/annoyed that the note Institutional Investor sent me (us) hasn't been retracted at all. Indeed the media brief linked on this site (above) uses similarly concerning language - that LVCG are trying to publish accounts before end of Jan but have agreed delisting will happen on Feb 1st..... almost as though the delisting will happen anyway.
I would have liked some clarity on this - the RNS posted the day after (on reflection) doesn't address the delisting either, it only suggests accounts will be posted.
I have seen another company I used to hold (thankfully sold) have gone the same way last week OBC
Knigel - issuing equity is still useful whether the company is delisted or not - delisting is different to liquidation.
I am still hopeful II have jumped the gun and I'll be able to publish a correction email soon - but as things stand I have it in writing from my broker (Institutional Investor) that LVCG intend to delist.
I received the email at 15:33 from II - asking me to log in to my account and check the corporate actions.
I have the exact same corporate action email that father_Jack has posted here.
It's very real - we can all only hope II have jumped the gun here and that this relates to the extension to Feb 1st that AIM have granted the company.
Fair play Gumby - I also have this message today :-(
Too many are quick to judge if they don't like what you say.....
I hope this is a "if nothing else happens this will delist" message rather than concrete confirmation it is.
I have much of my shareholding in an ISA - which is a real pain.
I would imagine 10 working days Sue, but it's very possible it could coincide with relisting. A 2 RNS day.
Tintin - just breathe for 10 minutes, then explain why a "new cornerstone" investor with a significantly profitable business would team up with DC?
If I had a good thing I'd keep it a mile away from LVCG - and certainly not be wanting to allow my profits to inflate LVCG shareholders value.
No such thing as a free lunch.
I would hazard a guess Sue - but if there's a legal beagle can explain it better please do.
Resolutions go before Shareholders in an AGM or an EGM if required. I suspect DC is about to come to us cap in hand to say yes or no to some.
One appears to be routine, ratifying auditors.
One is a new director - that will be interesting, new investor or a replacement for SC?
Allotment of securities means issuing shares
Removal of pre-emption rights is the biggie for me - that's giving the current board (DC basically) the right to issue more shares without getting permission from us, to pretty much any level.
Knigel - You ask a direct question - you deserve a direct answer.
I have been very transparent about my investment here - if I am prepared to see this with open eyes and that's a bad thing then I'm proud I'm negative.....at least I've learned something.
I bought in big tranches about 2 years ago as the build up to Frankfurt 2022 gathered pace - I too should have sold at 12p.
I bought because I see the industry/market that LVCG operate in as fertile ground for making money. The mistake I made was thinking LVCG would take advantage of this. I invested in the opportunity and I got the wrong company.
LVCG have failed at every single turn IMHO since I bought in.
Some of this I take responsibility for - bad research.
Some of the issues are not things I could have foreseen. so I don't accept responsibility for these (failed O2 concert, misleading promise, suspension etc)
I cannot support this view that 2024 means a bright new future, be happy and smile etc. I'll believe the hard data and the events as they actually unfold and comment accordingly. I will take the truth every day over false hope.
That's all possible RB - I obviously hope you're right.
My worry remains the over mighty Chairman - how do any of us get a narcissist to step aside and let the good things happen? Without that key step we can only expect more of the same.
I always shy away from SP expectations because there will be large dilution - if we end up with 350 million + in issue in the next 12 months, then just 6p a share would require a market cap of £21M... which is 4 x where we are now.
In reality hype and expectation will be the best medicine for the SP - that will take a huge amount of goodwill from here.
I couldn't resist a quick peek at the last financial data we did get...
Sept 2022 reporting the 6 months ended 30th June 2022
Total Bricklive revenue £548k (full year equivalent £1.096M)
Direct costs £796k (full year equivalent £1.592M)
Admin £343k (full year equivalent £686k)
Amort/Depn £531k (full year equivalent £1.062M)
Conclusion - stinking loss maker.
Always open to others immediately telling us it's a different model now - but logic dictates we can't practically double the revenue from the same tired sets and halve all the costs at the same time...
If we do double the revenue that's your £2M Tintin.
If we do halve all the costs that's still £1.834M - so minimal profit.
And then there's the contribution to central overheads which are separate in the accounts..... so nothing left for us at group level.