Member Info for colbaltblue

Prelims:

7/9/15
7/9/16
7/9/17

Got to be tomorrow or the dreaded Friday.

Why taking it to the wire? Won't the Auditors sign them off as a going concern?

Or more time to think of something, anything to break this period of silence and lack of visible progress.

I hope we don't get them on Friday. In my experience that's done for a reason.

Yes, roll on last week before we had the transformational news which promptly put an end to any rise!!

The possibility of good results and potential T/O's does not seem to be cheering the market.

So the logical response to that is why did we end up buying a cash- strapped company needing a serious injection of funds when we needed every penny for ourselves? Could it be that someone saw this as a personal project and engineered a way to fund it and then soon resigned to develop this new venture?

Anyway, that's history and I've no desire to spend all weekend raking over the ashes.

The Prelims will have to be out very soon and we may then see the full extant of our progress or the usual hogwash.

Yes, indeed. It demonstrated a master plan which worked for some but a public forum is not the place to make detailed comments.A Sports Company had been bought but needed capital to grow. Cue, the demerger and the subsequent growth of SiS and the stagnation of PXS.

In June 2013, this is the ultimatum we were given:

"If the Demerger is not approved by Provexis Shareholders the Board will be limited in its ability to implement the strategies of both the Provexis Business and the Science in Sport Business. Further, the Company would quickly be forced to seek further finance, most likely through the Provexis Group's existing equity draw down facility with Darwin or through an equity fundraising with existing Provexis Shareholders, albeit, that such funds realised may be insufficient to meet the on-going working capital requirements of the Company. The Board believe either of these fundraising routes, even if they raised sufficient funds to meet the working capital requirements of the Company, would diminish the value of the Provexis Group. Accordingly, the Directors unanimously recommend that Provexis Shareholders vote in favour of the Resolutions."

In other words, agree my plan or the Company will be finished.

On reflection,maybe we should have sold up, refused the plan and let the Company and the vanity project go to the wall. We would all be a lot better off, that's for sure.

Over 5 years later, PXS has clearly been the loser from the deal.

A very disappointing week.

That'll teach me!

What a strange question! The obvious answer is no provided they make the people they work for rich as well. This Company has decimated Shareholder value relentlessly.

There are many other examples across AIM.

I think you share the same cynical mental image as me!

Hat with corks, bad shorts and sandals with socks or maybe not. Perhaps the English Suburban Accountant has gone "native" and become a proper laid back Aussy. If the PT job entails, say 20 hours pw that's £90 ph. Very relaxing indeed!

I know your response is directed at Wheelds but if I might chime in?

Firstly, the 2010 AA is a better kept secret than most so we don't know what responsibilities the BOD have under that agreement but, judging by the lack any financial value for the Shareholders, I don't see the AA imposing any onerous workloads on anybody. Secondly, the protection of the IP would be managed by Lawyers as it is a specialised area of Law.Thirdly managing the relationship with DSM. This probably amounts to a monthly phone call from Australia to Holland to discuss the lack of meaningful progress to date.

Alf, are you truly blind to the shortcomings so evident with the Company?We have an abysmal SP and not much cash. We still await a major end user to put FF into a high volume product.

A keyman refuses to confirm his residential status.

I truly hope I am proved wrong when the Prelims are eventually announced but I'm not hopeful.

toolight, are you happy that as of Y/E 31/3/17 Ian Ford was paid £1800 pw and Dawson Buck was paid £1500 pw for running a Company with a SP of 0.039p? Furthermore do you think this rings a bit hollow at the moment..................

"Relationship with shareholders
The directors seek to build a mutual understanding of objectives between the Company and its shareholders.
The Group reports formally to shareholders in its interim and annual reports setting out details of its activities.
In addition, the Group keeps shareholders informed of events and progress through the issue of regulatory
news in accordance with the AIM rules of the London Stock Exchange. The Chairman and Finance Director
seek to consult with significant shareholders following interim and final results. The Group also maintains
investor relations pages and other information regarding the business, its products and activities on its website
www.provexis.com."

I haven't a clue about the way forward. Have you?

I hope so because at this rate tomorrows close will be the same or less than last week before all the "good" news!!

There'll also be more time to have a few tinnies on Bondi Beach which is only 20 minutes from Sydney.

Still a very disappointing market reaction to the news which was supposed to set us free!

It makes you wonder whether AIM is worth the bother these days.

I noticed this morning that the CEO of Ascent Resources has made the decision to go Part Time until the Company finances have improved.Two entirely different businesses of course, but I like the principle.

Very funny first para!

At last, one of my AIM shares with a future!

Why is it such a secret and is he not obliged to inform Companies House?

Christ Almighty, he's living in one of the most expensive Cities in the World courtesy of us. No wonder he's stringing out this out until the bitter end.

There's a few regulars on here who don't seem to have known.

Yes, that was a particularly arrogant remark by Alf who has never bothered to go to an AGM and prefers the comfort of his keyboard. I salute those folks who can be bothered to attend and if more of us had followed their example, we might not have the complacent overpaid BOD we have now.

If and when someone gets around to calling the AGM it could be interesting as I am unable to get the FD to confirm where he is domiciled!

I wonder why this information is being kept secret?

Thanks, BB.

I don't visit or post on ii since they completely wrecked the site!

Red has made an interesting observation on ADVFN that the results and AGM are scheduled for September but it looks as if the sole Antipodean employee has forgotten to give the necessary notice period!