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Just got notice of report & accounts and AGM. Having forgotten about this share I thought I’d just cast an eye over the numbers. One director getting £1m plus huge bonus for delivering a £7m loss made up of costs associated with failed legal cases. Genuinely speechless.

30p is a complete pipe dream. 5p alone is a dream. Take it from a long term holder.

The difference with skiing being the downhill part is pleasurable.

So am I but I’ve done that before and regretted it. Not going to do it again.

We will know if Sound is going to be successful one way or another within a few months (relatively speaking). We are heading towards the final crunch so might as well be patient for a little while longer. If GL turns out to be another JP (I don’t think he is btw) then so be it. There’s only potential upside for me now. If my shareholding ends up worthless I’m not much worse off than I am now.

I’m not sure I’ve ever seen an “update” with Sound. Too risky to say anything until stuff is signed surely?

That is the question isn’t it? If the prospects are so good then why doesn’t the so reflect that? I’m not calling it one way or the other and either inside might be right. I’m just holding and hoping.

Back in the bad old days there was talk of CoS at around 25/30%. I should have considered that more critically. What would folk say it is today?

You would have thought so. As I’ve said before you would surely expect the ministries of Finance and Energy to be speaking with each other. It’s not in the country’s interests to make things difficult for Sound.

I’m not surprised at the drop. There was no solid news so no real reason for the sp to go up in the first place. So predictable.

Surely Moroccan energy minister and Moroccan finance minister will have a conversation at some point and do the right thing?

I think you’re right Sundance. I can understand why as I’ve lost a fair bit myself. However, work is progressing - we just need to be patient and I’m reasonably confident I’ll recover some of my losses. . Not impossible to think that some will double their money if they invest now but I won’t be one of them.

I read an article recently which suggested this share could grow 1000% - a sensationalist headline to grab your attention most likely but anyway…..were we to witness anything even remotely close to that when would it happen and over what timeframe would it happen? 3p to £30 overnight is too preposterous for words. What would be a more realistic scenario?

8.5% down this arvo. Good time to top up?

I could only stay for the first 25 mins but what I heard sounded credible and reassuring. Not something you can say for an AIM company. A good product with high demand, not too much competition, well financed, clear strategy, profitable. Much to like. As with many growth scenarios it will be about then getting the scaling right.

I hope you’re right. Can’t help thinking the Moroccans would have forced the issue if they felt the company couldn’t swallow it. They wouldn’t shoot themselves in the foot would they? Or would they???

Well good news would be good news. They couldn’t issue an insignificant RNS. They’d get clobbered at the AGM and make the question of options more divisive.

It seems to me that the company haven’t hidden anything and that they have been transparent. Some people expect to be spoon fed and appear to feel they have the right to expect a personal email from GL providing a running commentary on what is happening day by day. The information is there, you just need to look. I was a bit miffed at the news but I had no reason to be and I was wrong. This was a car crash and the new team are doing their best to generate some kind of return. That doesn’t come for free and anyone who thinks it does is deluded.

Was it/funding mentioned at the Q&A?

Just received the annual report. A loss of £3.7m made up pretty much by legal costs (£1.1m) and wages & pensions (£1.9m) of which £1.164m was paid to the CEO. £489k was salary and £675k was bonus. So he got paid more than the lawyers.

The claims are going to run on into 2023 and 2024 so he’s not going to do too badly. Mind you he does have to deliver some value back to shareholders.