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I am not too bothered by this fund raise, and as you say, having a supportive investor like Sea Pearl is a positive (quite a big one for me).
Some delays are down to slow regulatory approvals, which are outside the company’s control.
For me, there are too many near term improvements in the pipeline (as per the interims) to ignore, and I do feel that break even/profitability are not far off.
The funding may simply be needed to deliver on pipeline projects.
Accordingly, I have just topped up.
I feel your pain and am 71% down here myself. However, personally, I blame the AIM market currently more than the company. I am seeing the same thing across AIM and 2023 has been dire. Most of my portfolio has been decimated. I have another tech stock down exactly the same amount today on a similarly small number of sells. People are understandably giving up, but I am just going to stick it out and wait for the recovery. I would actually top up here, if II would only let me add more cash to my account, which bizarrely I can’t do at the moment (waiting for a response to my email on that).
Of not or
He may not have an obligation to do so, but he would be doing us all a big favour if he did. I really would like to see an investigation or wrongdoing here.
Agree Troy. The contrast with the 4th July RNS is quite marked and it’s worth noting that Shaun Robinson when leaving said encouraging things about the company (he is a big holder) and referred to allowing the company to make fresh appointments (plural) to guide the company in the next stage of its evolution, or words to that effect.
Every day Modern Water post on LinkedIn as if it was business as usual. Very odd, and quite annoying really.
It’s all deeply odd. I hope someone with the necessary clout and interest sets up a ‘class action’ or whatever to seek some redress for shareholders.
They were probably waiting to the end of July hoping to close on one of the “several key projects” that they say are near to commercialisation and somebody was off sick or something and hence they missed their own deadline by one day.
Very interesting. I think it’s entirely possible that the redundancies of “all remaining staff” referred to in the last RNS were just Deepverge Plc staff and that the subsidiaries are still functioning. Modern Water social media activity carrying on as if it’s business as usual. All as clear as mud.