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Dear god, stop ramping! Buy and shut up, but don't try to fool other people. "More investments" at this point (if not already) will highly likely involve drawing down on the "nuclear option" of £1m for 500m shares/warrants. At which point your shares will be worth 20% face value.
Have you noticed all the numbers given are expected Revenue... i.e. before expenses. This isn't investing; its poker (playing the people not the hand).
shh, you spook the flock.
Just leave them to it; it'll be entertaining either way.
Revenue is not profit. Also, if EG were getting ANY profit why would they effectively sell off 50% of the their company a 1.5 million loan that have to pay principle + 10% ! Surely a company with millions in profits could have asked a Korean bank for a loan?
certainly have balls at least.
/mjpopcorn
Any fool can buy in...
Like that matters. :P
November 11th: "If the full amount of the total of £1,000,000 under the Facilities are fully drawn upon, it would result in the issue of 100,000,000 ordinary shares and 400,000,000 warrants. If all these warrants are exercised, the total 500,000,000 issued shares would represent approximately 79.5 per cent. of the then enlarged issued ordinary share capital of the Company (assuming that no other ordinary shares are issued and none of the other warrants already issued by the Company are converted). The Company is not subject to the UK City Code on Takeovers and Mergers.
Good luck with that
You've seen the bit where they pay for the £1m by issuing x4 current shares? Take your profit --or at least take your buy in-- before fooking chan draws down.
Technically it was undervalued as-was off the back of the sales... but the moment they enact their last funding agreement for 1m, they will have 80% dilution and it will sink to 0.1 - 0.3.
That has to be the most obscure bs I've seen yet...
Henderson sold 0.5m shares and now they've bought them back all around the same price range. Seems a bit odd. :/
Same here, it looked oversold on the drop and I very nearly bought back in. But with this RNS I have to ask why did they miss this in favor of removing hedge? Why didn't they renegotiate the debt months ago? I just see this as really bad planning imo.
Agree 100%. I just cannot fathom how anyone can think the last funding RNS is anything but bad news; the guy has effectively sold the company for £1m, with current shareholders expecting a drop of at least 70% of value when the the warrants are enacted. Then on top of that the only part of nova that was of any worth has now been sold.
Personally if you are already long and wish to keep the position, hold cash to hedge against another drop; if it drops way below what you feel is bare-bones fair value then pick up some more.
I'm sorry, this all bullsh*t. That funding is awful and now they've just sold their only decent asset. So buy if you think you can make money, but quit with the ramping bullsh*, its insulting.
quite a move on no news, I take it someone smells a bad 4Q?