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But now that they have the $10m funding, why have they not paid these CLN's off at a small 5% premium? They have served their purpose. Our SP would rocket and any further funding would be far easier to obtain. That's what a savvy BOD would do..

I am a long term supporter of TNT however anyone can see that the current SP performance is going to make future funding very difficult and therefore the long term plan very difficult. This would was self inflicted, we now have the means the means to fix it, but are choosing not to?

It is down because our CEO is naïve enough to issue discounted CLN's and completely ruin any interest in the company.

CLN's never ever ever end well and I am beyond frustrated that 1) they decided to issue these, 2) they are STILL not exercised and 3) they aren't deciding to cancel these and pay them back as allowed.

Is the BOD just going to let us fall for ever? Who is going to fund us at £11 when the market price is 50p?

How is it legal to do what he's doing? He's not 'reporting' (used very loosely) facts which the company have given, but instead reporting on things that haven't given and coming to his own conclusion.

Surely it is market abuse and illegal. What is the FCA doing about it? He has sh*t talked many shares I've been in and clearly profits from somewhere for doing do. Very very shady

For me, if they land the 2nd $15m funding then they should pay the CLN back in cash. This will send the SP to £5+ easily assuming the 2nd batch of funding is also done at £11.

From there if they are somehow desperate for cash, they can drawdown on the further $7m CLN's available but by then the 5 day average will be above £5 and would result in far less dilution. Maybe this is his plan too?

I'm leaning that way myself MHL. It is impressive to conduct a fund raise at 500% premium, yet even more impressive to crash your SP when announcing this news.

This could have been so much better and I fear that they've messed up their chances at further premium funding.

Roll up roll up. Who wants to fund our company which is 75% down from the highs and has discounted CLN's in issue? All we as is a small premium of 1000% on market value

I don't see why they wouldn't want to repay it though? Surely it is easier to sell funding at £11.50 per share to institutions when our current SP is £5+ and going strong? Rather than scraping along at £1.50.

Secondly it is much easier for us PI's to hold shares longer term and believe in the long term vision when we are not 50% under water.

If the BOD repay this with cash then the SP will rocket.

My only worry is that the tone on yesterday's RNS was basically 'We don't give a sh*t about the current share price, focus on long term or don't buy our shares'. So I'm not holding my breath

These CLN's need to be cancelled ASAP. Who in their right mind would pay $10m for ~650k shares when the loan note holders are getting >2m shares for £3m

Long term I'm sure we will be fine but you have to question why on earth the BoD would issue discounted CLN's at the exact same time as announcing the funding at such a huge premium.

It makes no sense and has completely killed the SP - I believe we would be at least £7 without the CLN's. Are the board naive enough to think they would have no impact or just straight up amateur?

Just re-reading this RNS again and this bit is interesting. Everyone has been working on the assumption that the funder can cash in their $3m funding for shares at any point based on the 5 day every less 8% discount, however this clause says that Tintra can reject this if they chose and opt to pay a 5% cash premium instead.

"Tintra will have an additional right (but no obligation) to repay the subscriptions in cash based on the market value of the underlying Subscription Shares (with a 5% premium) at any time within an agreed period. In addition, Tintra will have a further right (but no obligation) to forego issuing Shares in relation to the subscriber's request for issuance and instead opt to repay the subscription by making a payment to subscriber equal to the market value of the Subscription Shares that would have otherwise been issued."

There could in fact be zero dilution?

156.90 to buy 156.50 to sell! Wafer thin

Looks like the same story as yesterday.. Bid constantly creeping up despite a few sells, there must be some big buys going on in the background again and should jump up soon.

I'm hoping we can get back to £2.50 before the news lands at the end of the month, then the skies the limit

"Further, the Subscription Price will not be the subject of a cap and will be the subject of the Floor Price of £1.10 per Share. "

Try harder

Yes that's correct but only in relation to the first $3m. The final $7m is all at tintras request and again, an 8% discount really is peanuts compared to most raises I've seen recently on aim.

What boggles my mind is a $3m raise at an 8% discount has hammered the share price whist a $10m raise at 400%+ premium (even more now) has been basically ignored.

Either way, we will be in a far better position come the end of the month when the $10m is paid and hopefully a further $15m announced.

I think 'CLN' is the wrong terminology. They have not loaned tintra any funds nor do they have the right to exercise/create new shares at any point.

If you read the RNS, each tranche of the funding is exercisable at Tintra's request, not the funders. This is the key point.

I see this as a safety net fund which allows tintra to draw down some funds if absolutely needed at a minor discount. This isn't death spiral CLN's as everyone keeps saying.

I agree that the past few weeks may end up having no impact on the long term picture - However the board need to be careful not to get a reputation of over promising and under delivering, never hitting deadlines and promising updates that never come. They could end up driving this into the ground before it has even taken off.

What a crap way to treat shareholders. I gave them the benefit of the doubt after the last RNS's and had hope that the end of year update would clear things up but they have not said anything. Nor have they replied to my email to investor relations.

How long will they leave us in the dark and let this slide before they pull their finger out and clear things up. Furthermore, the way MM's handle this share is a complete joke. Any trade over 3k is printed an hour later and 10k+ gets printed the following day. We have a £20m market cap FFS I have seen shares with <£1m market cap with more timely trade reporting.

Extremely frustrating to hold this ATM.

I think tomorrows update will clear up any questions around the bridging loan. I bet Tintra were flooded with queries over the past few days so they will definitely address this tomorrow.

Also hoping that they reaffirm the $10m funding due, and also give an update on the $15m additional funding planned to reassure investors.

Finally I would like to see an update on the potential NASDAQ listing. AIM is a micky mouse market and too easily manipulated. It is not the right place to value a company like this. How can you raise money at a 400% premium and see the SP tank!

I always wonder why people sit on BB's on Saturday and talk down stocks they don't own.

Food for thought

What these obvious derampers are failing to mention is that any funding drawdown is completely AT TINTRA'S REQUEST:

- $3m funding today at 504p per share.
-$2m funding AT TINTRA's REQUEST will be issued at an 8% discount, or 504p again if done within the first month.
-$5m funding AT TINTRA's REQUEST at 8% discount.

These are not CLN's issued to some shark company. The ball is always in Tintra's court any nobody benefits from a low share price. The company are already in for $3m at 504p, and if the price goes too low Tintra will not ask for further funding.

Ignore all the BS being spouted today