Member Info for buried_treasure

What a load of bull on today's Sunday Roast.

Wait till you hear Crowe's side of the story!

"Maybe sell and don't post here anymore"

Mr Treasure's comment translation service :

"Because he's rumbled the bezzle and by hanging around he's putting off the new marks this needs to keep the fresh meat coming for the £7M plus working capital mincer.

Flattery will get you everywhere darling.

Welcome back ShrewedFrankieStark.

It's like you never went away.

I wonder why.

#MultiIDmug

Mr Treasure's RNS Translation Service :

"for general working capital"

= 

The lifestyle grift continues.

"Our immediate focus is on securing short duration, high return transactions..."

What with? Shirt buttons?

They raised £750K gross, most of which will go on servicing debt and trade payables.

So where is the cash for these "transactions" coming from?

And when is the next placing?

It's a complete busted flush.

"2.7 is low end"

Riiiiight.

If they write the legacy assets down to zero what else has this lifestyle grift actually got?

(In other news, Hopium to GBP spot rate hits record highs in late trading...)

I don't post on shares I like because the nut jobs follow me there and start trashing the place.

My fundamental belief is that clean, efficient markets free of the sort of lifestyle grifters and paid promoters here and elsewhere has benefits for all.

That's it, that's the raison d'etre. No side, no opinion, just the truth as I see it.

Monty330

I'm well aware of the heat one can get from nutjob rampers and delusional holders when pointing out the shortcomings of certain stocks, business models and their darling management teams.

My posting history on TM1, BMV, KEFI, SWC (the list goes on) and the responses demonstrate this.

I even had one single share telegram group lunatic doxx me and pay a personal visit. I flit between a few places through the year so wasn't home, but my SFSG trained son was there with a couple of friends and they were able to, ahem, discourage a return visit.

It gives me a fair amount of respect for the likes of Michael Gillard, Tom Winnifrith and others who call out the shenanigans without the cloak of anonymity. God knows the amount of c**p they must have to put up with on a daily basis.

"Investors is not stupid"

Er...

What was it Forrest's momma said?

Don't know where to start with that stew200 but the idea that anyone has been able to short this junk is laughable.

Because under Listing Rules, final accounts must be RNS'd within 4 months of year end or the listing is suspended.

31 December year end, accounts by 30 April or suspension on 1 May until accounts are filed.

I hope mistakes made become lessons learned.

The market becomes self-cleansing at that point.

Problem being there is, to quote Barnum, a sucker born every minute.

And most of them end up buying small caps up the stagnant end of the London pond.

Yes. I anticipate an after hours RNS. Suspension 0730 tomorrow if not announced.

As it suits them to keep everyone guessing, I'd think it's highly unlikely you'll find out any time soon how much the initial investment was or what proportion of the asset's revenue that entitles them to or what that amounts to in cash terms.

You may guess it is substantial, I may guess it is negligible, the truth may lie somewhere in between. That's what informs our decisions and makes a market.

We do know this though. Clarity and transparency are not exactly this company's strengths.

For that reason for me it is a confident avoid.

How much of the Texas rigs operation do they have a reliable claim to?

Is the answer

A. Zero, or

B. None at all?

Answer that... and build out your assumptions from there.

"...it's a dismal business model."

PING!!! We have a winner.

It is a misallocation of good capital. It deserves to fail.

And anyone buying equity in it deserves to lose their money, and let that be a lesson to them.

Holding the bag is hoping to sell it to a bigger fool. If it goes up in your face - and the bomb is ticking here until market close tomorrow - you have nobody but yourself to blame.

NMH21, what do the Disclosure and Transparency Rules and Listing Rules say about when a company needs to publish accounts to avoid suspension of the listing?

I think you might be in for a shock at 0730 Friday.

"Just saying".

Isn't it funny how one person's "crafty and shrewd" is another's "slam dunk rank market abuse".

I think you know which side of the debate I'm on. Despicable behaviour. Oily by name, oily by nature.

CHAIN

"longstop date" in the 10 March RNS became irrelevant when they failed to secure placing letters by 20 March. The CLN holders have been able to foreclose without warning since 21 March, over a month now.

Just as an outsider looking in I think Swanny is fairly relaxed as he has another small cap that despite rising petrol prices will keep his penchant for thirsty classic cars slaked for the foreseeable, but...

Atlas will pounce as soon as they see realisable value. There is an argument that the ramptastic announcements may actually have unintended consequences so far as that is concerned.

In general terms I think the market is definitely due an update on the "going concern challenges" alluded to over two weeks ago. The Recyclus Crowdcube flopped raising a fraction of the target and I maintain there is not a snowballs of getting a placing away for greater than the market cap. New money for old, a complete non-starter. It would also have to be at a substantial premium - 0.1p is par and no amount of warrant creativity can get around that without a capital reconstruction.

TM1 continues to circle the plughole.