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Brew and Method have got it right here. These tests have been ongoin g since last may. The salesman obviously went out with some type of prototype that hasn't impressed.
Looks like the usual AIM tactics of bait switching ,method C and jam tomorrow spread all over this. In 2 months it will have been out in the market for a year. The aim for the BOD then is to lengthen the whole thing out for as long as possible to find their salaries. When does this share enter the realms of that?
Panama , yer great and I don't say that likely. But it seems in the next month the company will collapse, point one. No S p value will be left. Unless the BOD change their mind for whatever reason this is what will happen.
Let me rephrase the original question. Is there anyway by the end of Feb this can survive as a going concern for shareholders. Realistic if any answers pls!
Can someone set out what the res tructuring CEO might achieve. (Which I think is not much when you look at who appointed him)
I presume the expected timeline is the company runs out of money , the assets are split amongst the creditors and the company is bought out privately by the scum.
That is the likely outcome by end Feb ?
If the restr ucture has any legs at all how likely is he to raise the enormous amount required to pay debt and get production moving. People might mention the JV but they've been sent packing by these people already
I was talking about this months ago. They`ve had a sales rep out in the field for 9 months, he obviously had some type of prototype to show customers. Secondly customers have had trials running for nearly six months and no orders.
As with most AIM BOD`s silence is deadly, the longer no news the worse it generally is. If they`d got an order it would have been announced.
Before everyone erupts with what do you know etc etc, you don`t know any better and if a trial is still going on after 6 months something is most definatly amiss. Lets hope that whatever is wrong is not fatal. (As it usually is on AIM)
The persons you mention in your list may well (or didnt) ramped the company to high heaven but that was just their personal opinion as you have yours and I have mine.
What we want is to uncover the truth and reinstate the value in the S P for those fraudsters that tried to ordinary investors out of their money. They acted in an official.capacity, the rest of us havent.
Now having said that what is your opinion of those on the BOD, have they acted with integrity ?
You keep going mate. If I was you I would only post here once a day to give any news you want to say at tea time of first thing to save you replying to calculation et al and all his screwball mates. Will save you a load of time and will stop feeding them amm unition.
I must admit this share has taking an emotional toll on me, like many others myself and my immediate family must have invested £40k in here and it is indeed a sorry take of how ordinary investors can be absolutely ripped of f by a set of callous, greedy b*******, with no care for anyone else. I expect some of those low life read th is board. You know what if the BOD, had been stronger and less greedy as well - a message to all of you if you had got the oil pumping, got some decent finance and therefore been able to sign up a JV then there would have been enough money here for everyone.
As shareholders who did d/d we picked the right share but let alone having a load of incompetent s on the BOD we also had a BO D who then decided to work against their own shareholders.
A pound by Christmas was often said on here and by now we should have had proper finance, say 3000 bopd, and a jv. Could well have been a pound! In hindsight the sp drop last January when they couldn't organise finance with 5 banks don't forget that 5 banks looking at it, was a massive marker to the sort of idiots we had in charge and still have today.
I notice the debate beginning of the SHAG and high net individuals and the action they might take.
The way forward here is Firstly and immediately a new BOD, to be honest I don't know how a EGM would be called but 1000 shareholders turning up angry and annoyed would soon send a message even if we didn't have the votes. Get the oil pumping and get the JV up and running and let's have a raise done what ever say but properly to get rid of the suck holding this back. In two years time probably less we might be trading in the 20s again.
Thanks to RMB, undoubtedly the crooks who didn't want to tell the owners of the company (us) chuff all have had to start telling us what went on . Tomorrow will be the day to go through all the lies, misleading statements etc. The ve t y fact they've had to tell us something shows as individuals they are s******* themselves. Another solicitors letter asking for more details 're this rns is the next step. A superb well to RMB!
Remember an SP of 40p , the BOD talking of paying a special dividend (Just b/s and fantasyland stuff) . Now look at it. The idea this company has is fantastic yet obviously poorly executed and run by the wrong people. Start paying them in share options that execute at 25p ,that should focus a few minds.
Quite frankly theres no way I`m seleng a penny . We`ve come down from 40p to f all and if anyone thinks i`m going to sell my zillion shares I`ve paid 20k for a few beers and steak and chips they must be mad. Seems to be a strategy suggested by others who would also try to persuade us to do nothing!
Infact if you did have a meal , it would be the most expensive steak youve ever eaten and would no doubt stick in your throat
Just a point on the above. Perhaps someone else with knowledge of the administration process could confirm. In the UK we have two types of administrator one where the company feasibly can't tr ade and the court appoints one to collect and sell the assets.
The second is where the company knows ( or in this case wants) it's headed that way it appoints a "friendly" administrator to work with the company to sort the mess out. I'm afraid as the BOD don't want their mess sorted out appointing M r Kravitz is their best way of ensuring there will be no viable plan. Another rip off. Yet of course it will give a legitimacy to the whole thing.
Jambon e yes time is a crucial element as whether this is Firstly even viable, and whether we are fed reliable info by the BOD. Obviously when we employed a salesman last summer and provided him with a viable product to trial most on here expected immediate contracts as no one would want to miss out (me included) on such a revolutionary money making product. Here we are 5 months later and radio silence. Someone pointed out that there maybe t+c s to negotiate though as we are selling such a revolutionary product we would have had most of that done at the start in our favour.
Today this board has moved on from that to customers entering a bidding war for exclusivity. Which is pure fiction as last week's story was that every miner in North America would be signing up.
As for AIM CEOs telling the truth have a look at the liars at NN N and OD X recently. Best of all look at COPL which is actually going on now where the P Is have been purposely misled by the BOD to fill their own pockets . Usually with vastly inflated salaries so if the company has no real product it's worth the BOD keeping the yarn going for as long as possible .
As to why I'm invested in all these potential basket cases is because one of them one day will work
I've got quite a decent investment here but the trials have been going on 5 months now and the jam tomorrow scenario , to good to be true story is now beginning to appear ever closer. Of course there's all the terms to be sorted it it ever gets that far but if we don't get any contracts signed up soon then I would begin to worry. Of course with almost all aim shares at this level it's a gamble that if it comes off will provide rich re ward's but the longer this goes on the more doubtful the whole thing is
What about this scenario ? Our new CEO, (only been in post 4 months) looked at the offer/JV that Art (the less said about him the better) had been working on and thought hang on this just isn`t good enough. If the JV partner won`t improve their offer then it wouldn`t be fair to the company and shareholders to accept. So after 3/4 months he rejected it. (After all in a negotiation do you ever accept anyones first offer ?) No doubt some party will be back with a buy out/JV and at least AM will have nothing to do with it.
Also the fact that someone like Exxon are even interested shows we have some type of valuable commodity that can be commercialised.
Also and we are about to see whether this is true , can we go some way along the road in whatever way and be self sufficient to some degree and get up to 2000 and 2500 bopd.
The CEO has realised that he cannot just say the JV is off which is why we will get an update shortly as he has to replace this bad news with a sweetner. However as usual saying and doing are two different things.
Re production figures, this is a real bugbear for me. They know probably by the hour how much oil is being pumped. Being honest and upfront these figures should be announced every month at month end, end of, for good or bad.
A real priority and I don`t mean this either just because most of us are shareholders but out of respect for the companies standing, reputation, future investment, must be the restoration of the SP . Anyone looking at the SP graph would realise what a joke this company has been this year.
So CEO, two things a decent RNS this week or next. A plan to restore the SP to a decent level, firstly 5p then 15p. Then proper monthly/bi monthly detailed RNS`s keeping us abreast of actual achieved progress especially in bopd. Its not f****** difficult , we`ve got plenty going for us we just need to capitalise on it !!!
First of all nice to see an RNS with a good news slant. Very very wary of anything George says as he is undoubtedly unreliable. Even in this instance not much achieved.
However the Chinese seemingly have to stick with him (as we do) whether they like it or not. Roll on May not Feb when we will get the pile of s*** we've missed all the deadlines rns again. However if they can get it going in the first half of next year we might see 3/4 p ?
Can we fast forward to then ??
Jezconnor, backs up exactly where we are at. The company has made several claims about mining , speeds, etc which I presume they`ve tested in house presumably with some success. We`ve then employed a salesman. Then if you asked me the process has begun to stall, perhaps with good reason as some have pointed out to me , legals etc. Perhaps the whole thing is a load of fairytales and is to good to be true (which as time runs on will be more likely) or it could mine at 2.6 faster and turn a 2p share into a £2 share. this is the hope of course
We`ll find out soon enough early next year but if theres more delay and radio silence next year I suspect they can`t get it to work.
I`ve not got involved in this, but you want to take a good look at yourself , calling names, insulting behaviour etc. Of course you should take a break from this board for your own sanity and as ever on any type of social media you wouldn`t say half of what you do to anyones face. Its as simple as that.
This board is for everyone to better understand their investment not to read rubbish most of what was on here yesterday.
You may well be right. No one knows how long the actual signing up process takes. It takes as long as it takes and if it does we will be handsomely rewarded. However there must come a time where , time starts running away and doubt starts creeping in which is obviously different for different people. If there`s nothing by the end of Jan that will be 5 months. I won`t be selling out but in my experience of Aim, the longer something goes on the less likely it succeeds. Its a pessimistic but nevertheless possible outcome. We`ll just have to wait and see.
Don't be so touchy!! No you don't know either how long it takes to sign up. What I would suggest is that if something was as good as this is said to be and was a massive money spinner then if we were buying it then everyday wasted would be costing us. Also anyone who employed a salesman as we have would have paperwork pretty much ready for signatures especially as this is a revolutionary product with the potential to save buyers milions.
You would also be pushing your own lawyers to expedite contracts.
Indeed as you suggest a timeline of 2 months trials and two months le gals may not be unreasonable. My point is we are getting near that.
As for shorting you know nothing of me and are just spouting b****** I wouldn't even know where to begin to short a share.
I`m afraid Bob Cat`s got a point. the longer this carries on in "trials" the less likely the trials will be successful. The trails have been going on for 3 months now and no news of any sales. Why not ? After three months even with the necessary adjustments if it was that good wouldn`t someone have signed up by now?
3/4/5 months its as long as it takes ok . I`m heavily into this and like everyone else want an Argo but if its not working properly after trials, and presumably you wouldn`t send it to triall without being confident it would work and impress customers why the wait ?