Member Info for buried_treasure

I think you've stumbled on the answer Silverlight.

It wasn't worth that then, it isn't worth half that now.

It was and is technically insolvent and burning cash at a right old rate. Target price 0p, but probably a few Hail Mary placings on the way down.

"[Adams] can't hit a target if it was the size of an oil tanker and 3 metres in front of him.."

To be fair, it doesnt matter how big the target is if it's three metres in front of him and he's only got one metre arms.

That will be his excuse, at least until next payday.

"Next update will be material"

You could have said that every day for the last 10 years.

The "not the RNS we were hoping for" RNS count must be well into the hundreds.

Adams has you lot on a string. It's a lifestyle grift. Once you see it, you can't unsee it.

Dusty, you don't see the need to find out how the final coup de grace will be delivered?

Oh boy, you're going to take it harder than you think.

(Not that the lying batards would be honest with a mug shareholder like you anyway.)

No other comment on it Dusty? It goes to the heart of my question from last night you're too scared to ask.

You'll come back just to stick the boot into another poster, but not to comment on a salient question.

Says a lot about the kind of person you are.

Wkw

This is where the whole 'related party' issue becomes a real problem and why this sort of ownership and control structure should never be allowed on public markets.

Recyclus is owned 48% by the public company, TM1, and 52% owned / controlled by the directors of the public company.

The private company, only 48% owned, has had its operation set up and paid for 100% by funds from mug shareholders in TM1. It owes TM1 £7M (and counting) and continues to make losses and guzzle vast amounts of cash.

The Recyclus EIS fundraise wouldn't even pass the most basic due diligence, because investing equity behind that £7M debt is financial suicide. New money for old! And EIS funds must be spent on new operations. To spend EIS money repaying old debts would make the company's EIS qualification invalid, tax relief would be withdrawn and the subscribers to that share issue would be asked to give back the relief.

TM1 cannot demand repayment from Recyclus. Recyclus has no hope of repaying that debt, and would be immediately insolvent. That debt going bad would make TM1 itself utterly insolvent as well.

The whole thing is a ticking time bomb. As soon as a TM1 loan note holder or other significant creditor pushes the plunger with a stat demand, the whole lot goes up.

You can see why the FCA kept kicking the RTO prospectus into the long grass. The whole thing is scandalous and stinks to high heaven.

Tick tock on that bomb.

Dusty dare not ask the question because he cannot handle the answer.

If any of the defaulted loan note holders presents a statutory demand it is immediately game over.

So what is there to demonstrate this company is not trading while insolvent?

Tick tock.

Dusty

As you appear to have their ear, please could you ask a supplementary?

Q: When Paul presents a statutory demand because he hasn't been paid what the company promised and his convertible loan notes are in default for the umpteenth time, what's the plan then?

Tick tock.

Great value! IF you ignore the market cap dwarfing debt.

Except when you factor in that debt - £6.7M last seen and likely growing - the equity is utterly worthless.

As the Roast PR boys said themselves, 'priced to fail'.

Anyone buying here is insane.

THE_CHAIN

There are circumstances where it would be in the CLN holder's best interests NOT to put in a conversion notice, but you probably don't want me to go into those. If I say 'double dip' maybe you can work it out for yourself.

But why the rush? That was 25M shares - 1% of the company - put on the tape in small parcels inside an hour just after noon.

That's some aggressive selling in the last hour.

Atlas offloading at any price, even a loss on conversion (if it ever gets to that)?

"I'll return when things update" going well again I see.

Is 36 minutes of self-imposed exile a new record?

C**k.

Dusty showing his famed martial arts self-restraint there again folks.

I bet his dog hides when he hears the car come round the corner.

The Mrs isn't so lucky.

You can buy as many as you like for 0.1065 this morning. I don't think I've ever seen it that low.

How long before the ask goes below par of 0.10? As they found out when trying last year, the company cannot issue shares below that so the confetti cannons will be defused pro tem.

"an embarrassment to our species"

...screams the man whose ego arrives five minutes before his bodily presence everywhere he goes.

What a c**k.

CRML over $2 and demented meerkat308 pops his head up again.

Bold call Dusty.

This could well be THE_CHAIN's dead cat bounce - a real one. That was a very sharp rise up to $1.80, typical of a dead cat short close out.

If you were short at $8 and you're already $5 in the money after cost of borrow you don't wait for the last buck fifty, you close and enjoy your weekend.

We shall see, but it may go below $1.50 - if not this afternoon, on Monday.

More likely to have been from the date of the accounts.

The waiver from Atlas would have been a condition precedent to the auditor signing off. Auditing standards require a one year forward whitewash, it was in nobody's interests for the shares to remain suspended although arguably the regulator should have insisted that the financial position be clarified especially in light of what has happened to the assets held for resale (Leinster).

But as we know, on London anything goes these days.

"Time in the market, not timing the market."

With this at all time lows and "priced to go bust" according to the market savants at Roast PR, how's that working out for you?

Maybe you could also let us have Warren's views on averaging down after you chat to him at the next BH shareholders' day?

I'll move on when I want to Gerard, thank you very much.

I suggest everyone do the same.