The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
They have announced as of 7.57am in 2nd RNS that they ceased trading and have appointed an administrator.
Newgrange
I made a point that I did have an investment over 10 years ago which was suspended with the threat of administration looming. It came back 13 times the suspension price a month later and ended 4 years of constant torture, and a shocking profit. This is not suspended nor in administration thankfully. Initial surprise is always there but then by going through old news with fine comb it starts to slowly make some sense. I am hoping they are using the weekend to thrash out something.
What is becoming clear is that East Imperial have an excellent product despite what a few say here and it has won industry awards but the opposite of that is finance always seems to be an issue, or logistics, or especially people leaving. Something is stalling the process and it needs attention and quick.
(cont'd)
There are several reasons you call in a redemption notice and one of them is a default, or is that Horace Ngai resigning has triggered this situation? He was the representation from INL and has this upset them 24 hours later? What caused his resignation and then the subsequent chain of events.
Also consider on the news of the resignation there was not much activity in the market, but then also when news of possible funding update was announced there was a run of buying. One could argue shorts closing which would tie up with the negative vibes we see on here towards EISB everyday, but then its hard to short something like this, or its buying in anticipation of further news. Afterall as I said before why was this not suspended or placed into administration immediately, since EISB confirmed they were unable to pay back their instalments to INL.
17 July 2023
Jason Ieong, CEO of WHI, said:
"Being a leading distributor of Imported Spirits & Wines in China, we are excited to extend our business relationship with East Imperial, the global purveyor of ultra-premium beverages. With our support, we believe East Imperial will be able to fast-track its global development in all strategic markets and capitalize the premiumization trend in the beverage category globally."
So, I am slightly confused without more detail how we have got to yesterday:
East Imperial plc, the global purveyor of super-premium beverages, has today received a Redemption Notice from INL Investment Limited ("INL") issued in connection with a Convertible Note Instrument dated 7 August 2023 (the 'Loan Notes') and a Deed of Share Charge dated 16 October 2023, first announced on 17 July 2023. Under the terms of the Redemption Notice, INL seeks immediate redemption of its Loan Notes totalling £2.2million, together with all interest due under the Loan Notes.
With all the openings we are getting in the USA, has this been where the larger focus has been and expenditure which has made INL think twice?
Another thing and I know others will think I am clutching at straws, but if this was over then they would have called suspension last thing yesterday, OR they would have confirmed they had breached solvency and gone into administration immediately. All that has been said is on the 11th of April 2024:
“The Company has been in discussions with a wide range of potential sources of finance, including debt funders, over the last few months to seek to provide the working capital required for the continuation and development of the business.” So were EISB aware of a brewing situation for some time.
The next day we get:
The Company is unable to meet this redemption liability and therefore the board is now in discussions with professional advisors in connection the Company's possible administration or liquidation, and with the FCA regarding the potential suspension of trading of the Company's shares on the Main Market of the London Stock Exchange.
To me last year BODs were telling us this was the only option we had, and we should vote it through and then it got voted through. This after the messy boardroom fiasco and Taylor Partners messing with selling into the market 2022-23.
Spank.theMonkey
Appreciate your reply. Not saying it will happen, but I have been here before in another situation ironically around 10 years ago. After absolute pain for 4 years not only got initial investment back but also profit. As I said it may not happen here but will see how this plays out.
Absolute gift price this morning. Thats two investment projects for me closed off in one week. When others run around screaming and crying, and get all emotional they cannot see potential opportunity, its best to be away from it as their failures will rub onto you, if you are not careful.
Its an investment and should be treated as such. If its a punt then I have no sympathy for you. Its an investment that can go up or down and should be respected as such, and if its a punt then it will always fail and deserves no respect.
I am getting a lot of blanked out posts as a few are on filter, and I have no interest to read their content, although it shows how many of them suddenly turn up on what I accept is a massive drop in price and value, but it shows how emotionally attached they are.
Its an investment for me.
I agree given that they iNGENu have the quality to provide access to venture capitalists and also other funding groups who target Bio-techs, with a good degree of success. Also potentially access to other Australian Federal and state incentives. They can get start ups for phase 1 or 2 trials up and running between 8-12 weeks. This is why I was interested that this will positively impact our numbers going forward on costing.
Based on the recent buying I am getting more convinced that we have 'interested' buyers taking a stake.
Surely this will have a positive impact on reducing overheads while the phase 1 studies are being conducted and hopefully going forward.
No idea but took advantage of it and added.
And another...
https://twitter.com/East_Imperial/status/1775040639316492686
If you want to get it right and you are in an area which is highly competitive and sensitive then its not awful, you need that time and space. If you need constant updates then yes I agree it would be awful.
Neil has been a respected poster and grateful for whatever they pass on.
Just to add to the discussion, that when this was suspended back in late 2019, it was 554 days roughly before it came back to the LSE, and throughout all that time it was so painful not knowing anything other than it was going into the healthcare arena. Try and imagine what 554 days of silence felt like. It was like getting blood out of a stone time. I am just pleased it is alive and kicking, and reasons why it may have needed the silence, but if you have gone through that pain you understand the confidentiality around now too. I am not knocking others but I respect your need for some better communications.
Ps Team leader (Rotweiller) Neil conspicuous by his absence.
Neil?
Baiting like this is not needed. Its a BB and people can post as and when they need to. Family comes first, then those close, and so on, and it may be they are satisfied with the current situation. Jace has been an honest upfront person since I have known them and so I can only assume you are having a bad time of it here recently and need space to rethink what your investing strategy must be going forward. I too have considered muting you, as you have started to get personal. By all means chuck out questions so long as they have relevance.
Sorry Tech you have lost me. What is the connection between your science degree, you working in the MSM, and your pal at the DM?
Why is it nearly time for the company to put up or shut up?
The BBC and Sky being notified and so what will that do? Personally I have little appreciation for either.
I have been here for over 5 years and patience is what I have learnt you need. Your questions will be answered with good time.
I believe from the RNS it says that the shares will come to the market around 11th April 2024. So it will be interesting to see if Allenby have managed to secure good investors and with holding RNS to follow, or sold simply to individual investors. I have spoken and met John Depasquale, Director of Allenby, when I attended the AGM in 2019, and they were aware of what mess this company was in back then as Photonstar, and it has come a long way since. Just a little more push, which I am confident they will get through.
How do you think that there may not be a tie up with Bio-Techne? I have no knowledge if there is or not, but working with them is a major plus.
Lifetsyle company? How much salary have the directors taken over the last few years?
There was nothing to hint of any delays.
Techtonic
This is the language which is music to the ears of those who are building. “not happy” “lifestyle company” " v near term "starting the sound like Bull.” “Im locked in”
If we break that down it seems a lot of psychology comes into play. The market understands a few will sell at the first sniff of break even or back into slight profit down the road. The selling over the last few days has been clearly a mix between the above who used the rise to sell and some ofthose who were involved in the placing cashing in. The buyers this morning above the 250k, and I am only guessing look like some adding to their positions.
When I saw that the E3 drawdown had been cancelled and instead taken up by this placing, I was happier as the drawdown could have been at even lower than we saw today.
The CDT holding is a long term investment rather than short term share punt to keep eyes on all day and press the button to trade!
I would concur with that FF. This is always a precursor to the main event. The trades selling make no difference when you have quotes like Behnke's from yesterday and the fact that Cizzle Biotechnology Inc:
Certificate of Formation
Company
Cizzle Bio Inc. Filing Date 2024-02-23
Filing Number 01335796590004
Filing Type Certificate of Formation
Filing Code 000000010101
Company Number
0805434362
Agent Name
William Behnke
Agent Address
1 Charterwood, San Antonio, TX, 78248, USA
Not one to be traded, rather accumulated.
CEO@ The Behnke Group LLC, CEO@ Cizzle Bio Inc. USA. Performance-Driven Executive
This is the title he has in the comment. Very interesting. Thanks LB and Oak
Just wanted to make the point. The 500k buy took out by the looks of all stock available earlier as they paid the full ask price. The last two buy trades have been paid at full and this for 10k and 20k. One of those was above the ask so confident the price will move up before close. Though individuals trades tell you little, it does show from the larger picture that each 10% drop, is being caused by a request for stock and then gets moved back again to the previous band. 2.10p was bid last week, but this week it was the ask and now looks like being the bid again or bettered.
For someone like myself who has been here 5 years and have no issue staying till the end game, the little movements only confirm the confidence that is building. Like Jace, I now have little interest in the daily movements other than it confirms what we already believe is happening. These last ones did catch my eye though. Have a great weekend.