Member Info for buried_treasure

Troactive, you do realise that the crowdcube raise target has officially been reduced from £3M to £350K, yeah?

That won't even pay the default interest, let alone touch the principal.

The placing to settle Atlas and Swanny could be done while the shares are suspended... but it is very unlikely.

Down this end of the swamp most placees will want an open (and more importantly liquid) market they can flip into.

£2M+ with a pre-suspension mcap of £2.5M is a huge ask. That means churning a potential overhang of almost the entire market cap.

There are other barriers too.

- the nominal value of 0.1p, the price below which new shares can't be issued without a capital reconstruction, and

- GM authority to issue what would be an approximate 50% dilution, plus

- the apparent Catch 22 of a placing that can't go ahead without accounts and relisting, and a relisting which can't go ahead without accounts that require a placing.

All while the company continues to burn cash and circles the plughole.

What a mess.

Troactive says "crowdfunding is an alternative to a bank loan, paid back over time."

He could not be more wrong if he tried.

127,000 posts. I'm still trying to find one that isn't complete muggery.

"...no material liabilities."

You sure about that ol' fruit?

Not exactly full of glowing praise, was he?

"Founding Investors

When our Company was incorporated, it was on a Crowdfunding Platform. I do not want to mention their name as I have nothing complimentary to say about them.

Founding Investors, invested @ £0.32p and I invested over 5 figures. I sold all my founding shares this week and cyclized a large capital gains loss."

Yes troactive. Crowdcube have taken the valuation given to them by the company out of, as you say, thin air.

What has me most staggered is that 30 mugs seem to have fallen for it.

If what I'm hearing on the grapevine is anywhere near true you're very very early with that post mazey.

They haven't raised any money yet and it certainly hasn't relisted.

See you soon Frankie. Have a good weekend....

*your

No mannan. It is an absolute basket case.

i.e., from a look at your posting history, right up tour street.

"The interesting part is still the £30million pre money valuation, crowdcube have to follow the law and financial accounts to get these valuations."

No they don't. They absolutely do not. And if you read their terms they have no opinion on the pre-money valuations of the companies they platform.

If you think a load of battery crushing equipment in a shed in Wolverhampton is worth £30M net of £11M debt I have a bridge to sell you.

Anybody who puts money in to the raise at that valuation obviously believes it to be worth that, but I would suggest they are probably an even bigger mug than you.

Oh and by the way if there is no truth to the reports there is a false market in the shares and the company should come out and say so.

Either way, the market should be informed.

Frankie needs to re-read my post.

But he won't because he now has me filtered.

So reports of one of the bigger shareholders suing the CEO's LLP (a related party in a number of other transactions) for a quarter of the market cap not worthy of a RNS then?

Right-o.

Back to Frankie pumping out the AI garbage opinions of his imaginary friends it is then.

Frankie screaming into the void.

"all is well behind the scenes"

I hope you are fooling yourself Frankie, because you're not fooling anyone else.

Welcome SouthWesterner26. How lovely it is to have a brand new poster here.

Give our regards to the other twenty-five SouthWesterners. Although I doubt that was how you were known before.

Ramptastic!

Mazey

Yes of course I take into account the macro picture.

But there are far bigger micro issues you are ignoring. Debt up to the eyeballs in both the PLC and the subsidiary being the most obvious.

Half the £3M raised will go to "working capital". It's there in black and white in the deck.

i.e. to fund ongoing losses.

For financial masochists only.