Member Info for Canoncan

Guys look lets put this issuance of shares thing to bed ok.
The company stop the right for MXO and to stop the snouts dig deeper into the trough.

Now that the company has been re organised they simply issue new shares when required along with an egm to vote to allow it.
A vote that sails through as nobody has the power to stop it and if they did it would be insanity as the company could no longer trade.
There will be future fund raisings and to begin with a small one for working capital to see them through to the big stuff.
It is standard stuff.
Its not a problem here anymore because this is no longer a penny oiler.
Normally yes its a pain but not if it is for the right reasons which is rare.
Eventually they will be raising funds at £1 and £2 etc but for now we have to pay the bills.
Thats how I see it and I think this is a brilliant opportunity to make some real money for all of us here.
Dont sweat the small stuff because the big stuff is going to swamp it.

So let me get this right , this gets suspended on Mon because the accounts are not audited?
I'm out.

Any positive news in the results could see this explode upwards at this rate.

There are many reasons for this Madam1.
Main ones are that when the spread is tight the algorithms cant differentiate between a buy and a sell and also MM's can manipulate peoples feelings by making buys look like sells.
You will only get the true prices by using level2.
You can tell by the trade price what is a buy and a sell mostly though.

Another small tick up though.

Its certainly looking strong but will it be sustained is the question.
Any price targets ?

Be nice to see 12p again :)

I'm sorry you have lost me results for who?
Where did you see this ?

I dont see why you think there is 'deffo news' tomorrow?

There could be for all I know but I'm not expecting it tomorrow or any other day for that matter.
Once they have the AJE take off figures they will let us know, perhaps it's tomorrow but just as easily not.
Is there a reason you think there is news out tomorrow?

Slow but steady this is what we want.

Remember the Warren Buffet adage...Investing is the transferal of wealth from the impatient to the patient.

We know all of this from the recent RNS and interviews in the press re the sheikh.
There were a lot of individual shareholders retail holders in MXO because of the vast amount of cheap paper in issue.
Now that it has consolidated there will be a shedload of these small holders dumping their stakes and moving on.
In their eyes holding what they deem to be a small amount of shares compared to the millions they once held is no use so they get bored and sell out so they can go and buy some sub penny punt and enable their dream again.
The smart money will be topping up here as it is very much all to play for with the odds stacked in our favour.

1.The company is already looking at several significant deals/opportunities.
2.The company is in discussions with high level and extreme high calibre individuals to become directors.
3.The company will be seeking new brokers and is currently working on this.
4.The company is in direct contact with the Sheikhs office and has a veritable feast of situations to look at and consider.
5.The company is speaking with significant companies in the Oil and Gas business regarding collaborations/deals
6.The company will be taking new steps and every step will be a considerable step forwards and improvement.
7.The company will be releasing news on the AJE take off as soon as they have the correct numbers.
All of this and a lot lot more is happening behind the scenes as this brand new company settles into its new role in the Oil and Gas business.
The Sheikh has already opened doors to the top tables in the world of Oil and Gas and Finance.
It all takes time there is no need to panic.

The company has already made it's strategy quite clear.
"ADM Energy plc, an oil and gas investing company quoted on AIM, is pleased to announce that His Highness Shaikh Ahmed Bin Dalmook Al Maktoum, has been appointed President of ADM Energy in a non-Board role. Specifically, it is intended by this role that His Highness will help leverage his network and bring new opportunities and contacts to the Company. The Company expects the appointment to be formalised in due course."

Some more action today , hope it all bodes well for the results.

Regarding the directors this says all there is to say for now I would say.

"The Company further announces that Stefan Olivier has informed the Board of his intention to step down as Chief Executive Officer. The Company will appoint a new Chairman and, upon appointment of a new Chairman, Richard Carter, current Non-Executive Chairman, will be appointed as Interim Chief Executive Officer. Stefan Olivier will remain with the Company until the appointment of a new Chairman to oversee an orderly handover.

The Company intends, in due course, to recruit into key executive management positions and appoint further independent non-executive Directors and has retained the services of a headhunting firm in this regard. As noted in the announcement of 15 April 2019, Shaikh Ahmed Bin Dalmook Al Maktoum also has the right to appoint one person to the board of directors, subject to requisite regulatory approval and process."

As announced on 10 January 2019, £7.2 million of annualised staff cost reductions were implemented in 2018, with further reductions identified since the year end bringing the total to £7.8 million. Various operational cost savings have also been realised including a reduction in software licencing costs and property costs.

The Board is pleased to report that as a result of these cost savings the trading performance of the Group improved in the second half of the year. Furthermore, the Company reached a settlement in relation to an outsourced service contract which will result in a saving of c.£3 million over the next three years, therefore the provision made at the time of the interim results has now been reversed. Consequently, the Group now expects to report a significantly reduced loss at Adjusted EBITDA* level for the full year compared to that reported in the interim results for the six months to 30 June 2018. Following the rationalisation of the cost base, the Group expects to report a much improved trading performance in 2019.

In addition to the progress having been made in relation to the Group's cost base, several of the Group's material customers renewed their contracts with IDE towards the end of the year, some on a multi-year basis; these contracts have a total contract value of c.£3.6 million.

The results will continue to show a loss from the past issues but it is the improvements in trading going forwards that these results will be about.

We can but pray.

This week.
I spoke to the company last week and was told the results will be out by the end of June.