Member Info for Dartron

When many of these companies raise, they always say that it is for some benefit, like the scenario you say of expediting drills etc. I think a lot of the time, this is used as cover for them running out of cash. There was no explanation for why this ran over 2 months, possibly covering up more recent costs incurred? I don't feel I'm missing out, by not being invested!

I too am wondering about the finances.

(May 26, 2023) - ...providing for an additional US$7 million revolving loan

The existing term facility component of the Amended Loan Agreement currently has a principal balance of US$25.5 million, with seventeen equal and consecutive quarterly principal payments of US$1.5 million outstanding.

Touchstone intends to use the revolving loan proceeds to maintain financial flexibility while we proceed with Royston-1X production testing operations and Cascadura facility construction where we continue to target for first production on or around June 30, 2023.

So this date has slipped by over 2 months, and I would assume that payment for gas must be somewhat in arrears. So I would expect that they have to make at least 2 of those 1.5M principle payments so far.

We also dont know the flow rate, or consequently the amount of cash they would start to receive. I would have thought money would be extremely tight.

My concern is that the presentation on the 27th September is planned to be a post raise presentation. I sold most of mine over the last few weeks, this has proved to be an excellent decision, each tranche I have sold, has seen the price drop.

https://www.lse.co.uk/rns/TXP/q2-2023-financial-and-operating-results-wwbxv2emswqwnip.html

operating and financial results for the three and six months ended June 30, 2023:

$5,135,000 in quarterly capital investments primarily focused on expenditures related to the construction of the Cascadura natural gas and liquids facility and two Royston-1X production tests.

Amended our Trinidad based loan agreement in May 2023, allowing for an additional $7 million revolving loan component that was fully drawn in June 2023 to provide liquidity while we complete construction of the Cascadura facility.

· Exited the quarter with a cash balance of $10,138,000, a bank debt principal balance of $31,000,000 and a net debt position of $28,913,000.

So had $10M at the end of June, but will have paid another 1.5M loan repayment. Will be due to pay another one as well.

So that takes it down to $7M, obviously we dont know what else has been spent, but I am assuming most of that is gone on CASC and Royston.

Kind of you to say, yes we have both been investing small caps for a while, and have been in several of the same stocks.

What you have to take in to account here Agri, is that without mentioning names, there are multiple 'promoter' accounts here, trying to dictate the conversation, especially to brush past misdemeanours under the carpet. I have had 2 reasonable wins on BVC in 2023, so not sore on the stock in absolute terms, but there are issues that hold this stock back and for me make it an unattractive investment. Most notably returning value to share holders. If you removed the promoter accounts, this board would be virtually dead.

What are they planning a stock consolidation? 4 for 1! ha ha. I think it closes that gap from today, struggles to break 30p. Multiple opportunities to trade this for 10%. Not one to hold for reasons I have stated at great length. See you all soon.

Best way is in and out quick, 26p to 29p. That's the only way I can see to make money here. Some more money extracted from here, whilst enjoying the bants.

HSBC raises Moneysupermarket.com to 'buy' (hold) - price target 305 pence

If we were kept informed (not by anonymous posters on discord) I wouldn't need to interpret these vague "99%" type phrases. Cant blame me for speculating. Until I hear otherwise, ill assume there is a problem. Price is not showing that everything is fine is it? Or maybe, it is, but discounting a huge % for liar liar Paul "2 weeks time" Baay.

I think its more likely an issue with the control system. Sign off's can be anticipated, software and hardware integration can not, - I know as its my job.

I thought this was wording was intriguing:

testing of all electronics, alarms, and systems at the facility to ensure full functionality is 99 percent complete.

Its clearly a figure of speech, rather than a precise measurement. So, what is the issue stopping the control systems from working? If they are trying to track down an issue, it could be preventing the operation from starting. This is why he.. 'anticipates' gas w/c 28th. If there were an issue, it could involve suppliers (even multiple suppliers).

Another vague timescale, and lack of detail about the progress I thought. I really would like to see PB replaced going forward. The level of reporting is just not good enough. Again, the 28th, now firmly anchored in most peoples heads, is just a best case timeline given by an extremely optimistic, inept manager. He really needs to go, to give this share any credibility going forward.

I find a distinct level of irony in the post from Chelsea11.

Regarding the acquisition, we have no details of what multiples were paid, or how it was funded, which I think is rather poor. Also could the headline names be approaching retirement age?

Bluerill, are you an official spokesman for BVC? Why do you have intel, that is not publicly available? Can you confirm whether you benefit in payment or kind from posting here?

@Agricore, the buy back issue was never addressed, so on that basis you have to be wary, even of RNS announcements here. You are right to point out that share based payments has increased, very contradictory to buying back shares isn't it, and contradictory to the argument that the share price is low. They seem happy to dilute here.

Those 2p options were the give away as I said.

I think they have held off updates to the market to get this deal done. Probably wasn't as bad as they made out. I'm sure a handful of people have done well here at the expense of many. I sold for less, but the t.o. price is lower than what was my 3p average. Shows how these companies are investable floating over 1 pound and gone for tuppence.

What point do they become customers? When a NDA is signed? Or when a LOI is signed, or when an order is agreed, there are many steps before receiving the paid invoice. Previously when they RNS a big contract it said, X million, to be recognised in yy years revenue. Nowhere near the same is it. What is the average customer spend here? It cant be much if they have run out of money again. This stuff is quite simple to read through for a company like this. How many are PAM customers? did someone buy a single end point license for a toaster?

You know nothing about what the customers look like here, other than they were not juicy enough to warrant an RNS, which given the poor show here, id of thought 200k spend would of got a whoop. Stop putting lipstick on this turd please.

New article as already linked:

https://www.investorschronicle.co.uk/ideas/2023/08/22/anexo-s-discount-still-has-room-to-narrow/

"Anexo's discount still has room to narrow

The credit and legal services provider is rated on a PE ratio of 4 even though the outlook is improving

August 22, 2023"

He already had it as a recovery buy from July

https://www.investorschronicle.co.uk/ideas/2023/06/13/anexo-is-now-oversold-and-undervalued/

Wording is ambiguous at best. They used to RNS large contracts, not for last 12 months, and company running out of money, tells me they don't have enough business.

Depends how many shares there are by then. I would not buy here if you just want the dividend. I really would not bank on anything here, until we are enlightened further. I3E is a hold at best, possibly a sell given the weakness in seeming good conditions. Market was right last time, when the dividend was cut, what surprise is lined up for us this time? 1/3 extra shares issued? and 1/3 warrants.

What the heck are you talking about Yos3mitesam? No Contracts RNS this year.

That's why they go no money...

GLG short.

I was very greedy last week.

"JSE is currently an easy 10 bagger on a takeover approach" Easy tiger! I think most people would accept a buy out at the placing price of 45p, I know I would.

People taking what they can before price is destroyed by next raise or failure to raise.