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Do we really care Naewise ?

It was my thinking in an earlier post that it would foretell trading trouble if the Directors didn't purchase the 7,500,000 shares at 1p to which they had previously had committed. That went through last week.

But this morning a large sale went through @ .78p of 3,183,333 shares worth just £25,000 - which doesn't bode well - the BoD need to show some real numbers of new contracts if they're going to turn this around.

Reading Vivek Murthy's wikipedia entry, he sounds a very capable and well-grounded individual for the post.

3cardbrag - VOG is required by Company Law to have an annual audit of its accounts.

In recent years the standards have been supposedly elevated whereby Directors have to provide a statement as to whether they continue to be a 'Going Concern' or else the accounts can't be signed off by the Auditors.

I thought the statement they've given is very clear for us all - no ENEO payments then they say there will be difficulties carrying the business on. I think I also read that they'd be able to get funds to cover this scenario - presumably another placing.

I'm like James though - and probably all of us - we were told lies in previous years by Directors - we all know who.

I don’t think any of us are in a position to advise whether a new investor should buy sng. And certainly not a newbie asking such a question.

But i do think someone who’s sold their shares really ought to refrain from further comment - it surely is bad form on a bulletin board !!

Almost certainly computer generated - someone has at least spelt SNGs name right ;-)

I think some comments on this BB are becoming unreasonably rude and disrespectful. I can understand why investors who may be in 'heavy' want to promote success but many of us have been here quite a few years and the promises made 2015 and particularly at the placing 2017 haven't materialised.

You can't gloss over that by rubbishing another's arguments. as small shareholders, we don't have any clout - my frustration, and perhaps same with other BB members is the Institutional Shareholders haven't put on any pressure to the board. You'll have seen in past comments that I'm not a fan of Philip Cartmell but that has grown really since 2017 when for a long time PC sat on our placing funds - not making the acquisitions he forecast.

To sell now for me would be a very big price as my average is very much higher than say 'Surprised' - this is the problem with AIM shares, constant dilution favours late entrants.

Disappointing that individuals entrusted to work on behalf of us in the UK, are 'blabbing' about our methods and/or work to date to outside parties. At best this shows business naivity but at worse could impede this country's progress for any manner of economic reasons.

The audited accounts are now published on the Co's website - there's still a lot of reference to Covid when frankly that shouldn't have been the case given that we're talking about the year-end to 31st March 2020. However, there are things within it which give some comfort and possible hope that from this miserable position they might dig themselves out.

Founder & ex-director John Blamire is now out of the picture - in my opinion, I always thought he was the principal financial waster at FLX. Some of the historic Share Options have been cancelled - those that remain have realistic exercise points and at current shareprice levels will benefit ordinary shareholders first. I regard the cash saving steps in exchange for shares as innovative and as they only vest at an sp of 1.95p minimum and at higher rates for other tranches, is very good for ordinary shareholders.

Staff levels at 82, on the face of it seem high for this level of turnover - but monthly cash burn is likely to be much lower now offices have been closed. Following the September 2020 placing raising £1,250,000, secures their future right to end 2021 and bringing in Amati as a new 16.41% shareholder shows good Board contacts and, if it was Mike Read's doing - well done, but he can expect to feel the heat from what are thought to be assertive stakeholders.

My principal negative is that Falanx has expected clients to come to them as well as expecting the SolarWinds link to be significant - the latter I don't think will ever be so. Mike Read needs to understand that he and his sales people have really got to push for this business. That negative sums up imo why the sp is where it is.

https://falanx.com/wp-content/uploads/2020/10/Falanx-Group-Limited-31-March-2020.pdf

My take on today's very delayed results announcement is disappointment. Particularly that Chairman Alex Hambro's statement is effectively nothing at all about the losses incurred for the year ended 31 March 2020.

It's not honest - as it's all about excuses and the impact of Covid which as we all know didn't impact them 2019-2020. Having some small commercial link to SolarWinds myself, I don't see that tie-up for Falanx as anything other than superficial and I've come to the conclusion it's not going to bear the fruit that Falanx thinks it is.

I'll only believe there's a 'possible' future for Falanx when I see the Directors honour their pre-results intention of buying the shares at 1p. And if they go beyond the £75000 which was previously indicated, then I'll feel a bit more comfortable.

Otherwise, I see a total loss coming.

I agree with you TinyTim - welcome to the board.
There's a couple of mentions on the internet regarding Phil Cartmell's salary package - apparently it was just shy of half a million but that was 2018.

https://uk.finance.yahoo.com/news/much-did-tp-group-plcs-112200123.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAACVtPFy1pjRyO03nj_pGv8a1R6gtQ3O6ox0dXfQuBMC8v8Tus-cJjB4DuBrF42sjo0kz1SnqN4W9_Q4mbzZ_jE7lcWBKO9L7Nl97tiGgA5I5pv_ApiMkNjBK7qeCPp81TdLPjP8kTc6VwLIgv87BP4loV3WLy9EFg-lYiavwFamk

It's rather inaccurate reporting by FX Street, Tanzeel - but at least it keeps SNG on the news front .

It's worth bearing in mind that the Engineering business was sold today for £1 - when we've seen that in other industry sectors, it's always been seen as a fire sale - and I would add represents a "management failure". Are there any other costs TPG has to pick up ie. pension fund contributions ?

I've been buying shares for several decades mostly AIM and it's not been an easy ride to be honest especially AIM which in my case have mostly been disappointing - constant placings. constant dilution.

I have to say that in all that time, I haven't experienced a market reaction quite like we've seen in SNG following such a relatively whopping placing raising £80millions only to see the sp fall so far from the 175p placing - so frankly I don't know what's coming in the short-term now.

I ignored the warnings from other holders that they expected it to fall to the placing price - but they've been proved correct - but I did come to recognise that I could top up in the market rather than commit to the PI offer - and thus be certain of getting the shares I wanted and be certain how much I was spending.

So yesterday topped up at 168p but held some money back until today - although not thinking it could go much lower - and bought another lot this afternoon at 160p.

But, that's it for me, can't spend any more and will sit it out now until next year - just thought my comments might help younger, newer investors.

I understood in the private investor offer document - that if signed then you're committed to purchase - surely ?

Decided against buying my PI placing shares as had a hunch it would fall today - bought instead at 1.685p - that's a couple hundred saved - that's a first for me :-)

I find it worrying that at this stage of the pandemic, the government is setting up yet something else rather than sticking with already known possibilities - remember Han**** did mention SNG in Parliament July

Morbox - been in TPG for 9/10 years I think - when as Scrodingerscat mentions it was previously called CORAC. Average price for shares paid over the years is 10p - with a whopping addition I made in July 2017 at 6.5p

A company like TPG - and why call it TPG ? - that was a question I raised with Phil Cartmell but never got the courtesy of a reply - has never been truly open with its shareholders. It might now sound like 'sour grapes' on my part but check past reports, and you'll see there's never any mention of shareholders. Enthusiastic noises were made at the 2017 placing but actions didn't match the words and for several years the money stayed in the bank.

Structural changes have been a constant at TPG which of course kept expenditure high or more like wasted resources. Now the interim reports further 'business streaming'.

The facts are that expenditure has to be sharply reduced and/or contracts have to be more remunerative. But the CEO can make a start and reduce his own grossly 'over the top' pay package because he's done little to earn it in my opinion.

Is it possible that Venrock have indeed sold shares into the market at the higher price knowing they would get plenty in the 175p offer ?

... keep the share price up ......