Member Info for Bermondsey

Disagree with you there destitute. Why would the company need to make a statement when a desperate pi doctors an insignificant press release? in that vein do you expect them to rebuff the trollope that you type? Lol.

Chinese economy is extremely sensitive to oil process fluctuations. They import barrels of the stuff. I would personally be trying to pull off a low ball takeover.

For a moment I thought he was moving somewhere with lower rent. Perhaps he's read the comments here on overheads. Reading a description of the building blew that out the water. Stefan likes the luxury.... Property details
Standing 74 metres high, this newly refurbished business centre offers a first-class, exclusive atmosphere coupled with spacious, high-ceiling facilities and multi million pound, five star fit out. As clients walk out the elevator they are greeted by the original commissioned

What a tease. We're due a development plan and we get a change of office notification

Jim I misread the cashflow statement. The 900k is there and accounted for. If you look the statement starts with our net loss which encompasses the income also. Been a long time since I took that accounting lesson. My error. Very happy with the direction of oil but would be happier to see a correlation with our share price. I don't doubt we are close to being cash positive but would have hoped the jv would get moving on aje 6. Aje 4/5 have been up and running for 2 years. Panoro may have other great assets on the balance sheet but really they have shafted this for us. Frozen on the spot.

Honestly I'm so sick of this dog of a share. It needs to have its day.

But the historical cost of the investment going down means there had been an impairment to the investment. So the auditors throught historical cost is over valued? in any event we have better things to focus in. Cpr report.

Yep all is good with the cashflow statement. Apologies

Forget that comment on the cash. I think it's already built into the loss the cashflow statement starts with. I can't remember my accounting lessons, was a long time ago.

I don't totally disagree. Although it still feels to me like we could have made further progress this year, at least got Aje 6 up and running so we can take advantage of high oil prices. Haven't we paid for the equipment already?... I am also a bit concerned by a few things in the accounts that i pointed out. Particularly where the 1m income from the jv went. Have a look at the cashflow statement, we didbt receive it. Have a look at the balance sheet, I dont see a receivable. I'm sure all is fine but I expect to see that cash somewhere and I don't.

Toold. I'd love a good week on mxo but it's out of my hands :-)

Sycric

Appreciate the reply Syric. It's a shame the balance os off balance sheet. I do see the debt repayments, unfortunately is muddies the water. I have no idea how to calculate how much there is to draw down on. In any event, you provide a level headed analysis of the cash situation.

I missed that Syric. Do you know what we've drawn down so far? I'm a realist btw. Happy to discuss the good and bad head on. The cash balance concerns me but if we have a large facility then that would provide some comfort. Are there conditions to the drawdown on the loan, such as a certain income level or milestones reached with r&d?

That cash balance is as of 30 June. So you imagine it is severely depleted given we are 3 months on. There was an equity raise in August 28million shares for around 43 k. Yes right to be concerned about working capital.

Supposed to read the least they could have done not threat

Trade payables are uncomfortably high. Nearly a million. This is short term debt. Although there is a receivable to offset in part. Accounts payable need to call on our customers to pay their bills.... The writing is on the wall for another fund raise unfortunately. Threat they could have done was give us a bit of spin to spike the share price before they raise.

47 k isn't going to keep the light on for too long. How did they squander so much cash in a half year. Raised 900k via equity. Well absolutely we need to sign some contracts before the year is out.

Thanks Philpot. Can't be that then.

This doesn't bode well