Member Info for DerSack

I expect a 10-12m sell between 1.425p and 1.45 at 16:30h +/-5 minutes. Delayed publication in the early evening.

There are a lot of assumptions in it. Of course, everything can also be completely different.

When it comes to greed, this is a real masterpiece. When the Employee Incentive Warrant Pool was invented a little over a year ago, it looked like a kind of self-service. It should not be ignored that at the time it accounted for 15% of the share capital.

I can now fully understand the 196,968,812 for David. Something like that motivates. The 157,575,049 for Gerry, however, were a joke, especially when you see that he was "incentified" to leave shortly afterwards. But maybe that was already his parting present at the time. And since then we have diluted his wine a little with two capital increases, so what.

What I still don't understand is why GM has now executed the warrants? After all, he had to somehow get the 300k pounds together and took a risk. The original expiry date was 03/31/2023. If you still execute, even though the sp is below the latest placing price, it suggests that you either need money or there is a condition regarding the expiry date when leaving the position / company. Unfortunately, it is not clear from the RNS from that time whether there are corresponding rules regarding the departure that shorten the deadline.

I would add this and a few more trades than just the 9m trade:

30 Jul 21, 16:39:16: 6,000,000 @ 1.35p
03 Aug 21, 16:23:38: 2,760,951 @ 1.3p
04 Aug 21, 16:36:51: 1,460,000 @ 1.3p
05 Aug 21, 16:36:11: 2,000,000 @ 1.3p
05 Aug 21, 16:37:39: 3,325,000 @ 1.3p
06 Aug 21, 16:40:41: 1,500,000 @ 1.3p
10 Aug 21, 16:22:34, 2,000,000 @ 1.32p
11 Aug 21, 08:27:21 1,000,000 @1.40p
11 Aug 21, 08:30:21 2,500,000 @1.40p
11 Aug 21, 08:31:43 2,500,000 @1.42p
11 Aug 21, 08:44:15 2,500,000 @1.40p
11 Aug 21, 08:49:23 1,000,000 @1.40p
11 Aug 21, 16:30:36 1,000,000 @1.40p
11 Aug 21, 16:33:05 9,000,000 @1.393p

Since the SP went higher, the break even does not require as many shares as before. I have caculated a possible taxed turnover of those trades, based on the assumption that those were alls GM's trades, that the shares were acquired through the warrants at 0.25p and that GM has to tax his profits at 33% Irish cgt:

sp: profit per share / taxed profit per share / taxed turnover per share
1.30: 1.05 / 0.7035 / 0.9535
1.32: 1.07 / 0.7169 / 0.9669
1.35: 1.10 / 0.737 / 0.987
1.393: 1.143 / 0.76581 / 1,01581
1.4: 1.15 / 0.7705 / 1.0205
1.42: 1.17 / 0.7839 / 1.0339

=> GBP 384,416 taxed turnover in total.

So if those were all GMs trades, this should pay him his 300k for the executed warrants. And there are only GBP 10k missing to execute the remaining 37,575,049 remaining warrants from the "Employee Incentive Warrant Pool" at 0.25p = GBP 93,937.63 in total.

=> Hopefullydone <=

Next big thing should be the november warrants, but I am sure, he knows he can get more for his shares later on this year, so hopefully he calms down for now and for the next ten weeks.

Ufhpaul, I explained it in the beginning of this thread:

Earlier this year there was an rns staring that he had to sell shares to pay his taxes.

A few days ago we had an RNS that 120m warrants had been executed for GBP 300k. Only two perso s had enough warrants @.25p: DP and GM. If DP (as a director) had executed, this would have triggered an RNS. Since we didn't get such RNS, only GM remains.

The fact that he had to sell shares to pay for his taxes earlier this year indicates that he may need 300k to pay for exercising those warrants.

Update:

Today we had 16:22:34, 2,000,000 shares @ 1.32 which I would assign to GM. The trade is marked as "buy" by the LSE site, but if you look at the qty. bought after the sp went down, this should be a sell over a longer period of time, since no MM accumulated 2m shares after the sp went down.

This brings us to

30 Jul 21, 16:39:16: 6,000,000 @ 1.35p
03 Aug 21, 16:23:38: 2,760,951 @ 1.3p
04 Aug 21, 16:36:51: 1,460,000 @ 1.3p
05 Aug 21, 16:36:11: 2,000,000 @ 1.3p
05 Aug 21, 16:37:39: 3,325,000 @ 1.3p
06 Aug 21, 16:40:41: 1,500,000 @ 1.3p
10 Aug 21, 16:22:34, 2,000,000 @ 1.32

Probably 19m GM shares done => 12.5m to go for his free ride.

Thanks to DavidBlack for pointing me at the 2m shares trade.

I have to correct my own numbers: I assumed profit after taxes to pay for the 120m shres. But for a free ride the taxed turnover is enough, so only 31.5m for a free ride, ergo:

Probably 17m GM shares done => 14.5m to go for his free ride.

Regardless, he will need another £ 500-600k by the end of the year to exercise his other warrants. There are still 37.5m warrants @ 0.25p left and until November there are 67.3m warrants @ 0.67p = GBP 500k which would otherwise expire 11/24/2021.

Sounds like many shares, but only because we are in a phase of low volume. At the end of last year we had volumes of several hundred million shares in a single day. At that time, 100m shares more or less over 2-3 days would not have mattered any further. As soon as one of the bigger projects lands, GM's gone without us noticing.

Update:

30 Jul 21, 16:39:16: 6,000,000 @ 1.35p
03 Aug 21, 16:23:38: 2,760,951 @ 1.3p
04 Aug 21, 16:36:51: 1,460,000 @ 1.3p
05 Aug 21, 16:36:11: 2,000,000 @ 1.3p
05 Aug 21, 16:37:39: 3,325,000 @ 1.3p

And today (only visible on L2):
06 Aug 21, 16:40:41: 1,500,000 @ 1.3p

Probably 17m GM shares done => 25.5m to go for his free ride.

"Unfortunately," GM is no longer a director, so his sales are beyond our knowledge. We know he's one of two people who could execute the 120m warrants. And the only one of the two who could have a reason to do that.

We know from RNS (Number 0846O / 20210205) re older sales: "The proceeds of the share sale will primarily be used by Mr Madden to satisfy taxation and other liabilities arising from a number of salary sacrifice programs initiated by the Company."

So, he may currently not be the man with 300k in the pocket, which he would need to exercise 120m warrants at 25p (GBP 300k in total).

Since he seems to be Irish, without further tricks, he would have to pay 33% CGT. At an sp of 1.30 (and a corresponding profit of (1.3p-0.25p = 1.05p before taxes) he would need to sell 300,000 / 0.0105 / 0.67 = 42,643,924 shares for a free ride, and even more if he want's to spend some money for something else.

We had 2-3 major "double" trades in the last few days of July. I would book them as rollovers and not assign them to GM. In addition, I would not assume forward selling, so I would neglect everything that was "far" before July 30th.

I believe that GM is the cornucopia that provides stocks on demand at the end of the day currently. There had been a pattern for a few days now: At the end of the day at market close there is a big trade at a 0.05p below the ask, which compensates the difference between buys and sells:

30 Jul 21, 16:39:16: 6,000,000 @ 1.35p
03 Aug 21, 16:23:38: 2,760,951 @ 1.3p
04 Aug 21, 16:36:51: 1,460,000 @ 1.3p
05 Aug 21, 16:36:11: 2,000,000 @ 1.3p
05 Aug 21, 16:37:39: 3,325,000 @ 1.3p

So we probably have 15.5m GM shares done in the first week => 27m to go for his free ride.

Maybe some of the odd millions during the past days were also his, but wouldn't bet on it.

I hope we can close this chapter quickly, but I don't fear his shares. His stocks are just a nuisance in day-to-day business since his timing is bad. But when good big news drop, I don't worry at all. At the end of last year, after good news, we had volumes of up to 385 million in a single day. In such situation, GM's bundle is irrelevant.

Ups, sorry for the typos. I'm not used to type on a tablet :-)

Come on Tenpins,

"Appears we have yet another down day so far GLA"

Until now, we are, where we were yesterday at the bell. In total 381k bought at full 1.35p, 68k sold at an average of 1.265p. Someon with some sens of humor woud state that we have buys vs. sells 5:1 :-)

Anyway, until today I was alsways kind enough to talk to you in full sentences and answer questions, if possible. Could you please answer my question:

What is your background anyway? You are not on any other board with this name and you are making every effort to save people from investing right here. Do you have EQT shares? Or do you want to buy some cheap? Or are you a disappointed former investor on the crusade against the stake on which he once burned money?

Good morning Tenpins,

"Secondly a lot of investors on here have been waiting for a very long time and/or sold there holdings at a loss. and/or were left holdings the bags."

That may be true for traders, but not for many investors. I got in a little over a year ago, back then for something like 0.68p. Back then there were people who told exactly the same thing as you said today.

I went through the valley of 0.35p after the fundraising at the time, bought more from time to time and am still very satisfied. So far it's still a very good _investment_.

Surely, one could have safely sold in winter and finally bought it again for a little over 1p. I might as well have bought all of my stocks at 0.35p and sold at 3.2p last year. If one only knew before ... But it is always like that, isn't it? Everyone has to determine the right moment for themselves. That's why nobody here asks to buy or sell.

What is your background anyway? You are not on any other board with this name and you are making every effort to save people from investing right here. Do you have EQT shares? Or do you want to buy some cheap? Or are you a disappointed former investor on the crusade against the stake on which he once burned money?

The last trade on Friday was a 6 million trade at 1.35p at 4:39 pm. The trade was published late and can currently only be seen on the LSE website if you have L2 access. The free LSE access was no longer updated at this time on Friday. Google, on the other hand, updates without delay and takes this trade into account as the last price for Friday.

According to the order book, the MM ask was 1.45p on Friday at the close. It is expected to be there when trading starts today.

The probability that trades will go through at 1.45 on opening is high. And while the free LSE site sits on delayed data for at least fifteen minutes, Google will show the corresponding price change of (1- (1.35 / 1.45)) * 100 = 6.89%.

And up once more ... :-)

Thread up to the top of the board after Tenpins' useless RNS post.

Don't feed him too much Andy. The poor guy doesn't have it easy. Spending the whole day under a nickname on one and the same channel on the Internet, only to denigrate one and the same stock over and over again.

At the end of his days, he will look back on his life and ask himself: What have I done with my life?

Tenpins, of course you need money to grow. And those who want to grow quickly sometimes need more money than they can acutely earn. Especially when projects can take 1-2 years before you can reap the fruits of your work. Amazon did it years before, Tesla is making profits right now for the first time in a decade or more.

From nothing, comes nothing. Anyone who wants to sell something must first ensure that they have goods, customers and staff. And all of that costs money that you don't have at first.

What's your alternative? Do not make any contracts, accept no orders or not sell anything so that we can save money, material and manpower?

If that is too risky for you, then you better have a look at Disney or Coca Cola, they have already survived a few crises and always delivered. But then you also have to be satisfied with single-digit percentages.

CB, nope, that is not what i am saying. That is your interpretation.

As you know, I am tracking the warrants and options. I am on vacation, and do not have full access to all my documents, so I could not look up the exact numbers this morning. In fact, there were only two persons (not even three as mentoned before) who could currently exercise 120m warrants at 0.25p: DP (196m) and GM (157m). YA is out, he only holds 98m.

DP is our CEO, this would have triggered a third RNS. So only GM is left. The question is: Why did he exercise and why 120m and not all? The expiry date was March 2023. I find two possible reasons:
(01)
These warrants were from the Employee Incentive pool. Maybe there is some rule that changes the expiry date when he left the company or he is still in until the end of the month and has to exercise them before he goes. This would mean, the rest will follow, soon.
(02)
He needed some money. This would mean, he needs or needed 300k in short term to buy the shares and will sell more in medium term.

Hope he has an ii who buys the full bundle.

120m shares for GBP 300k means 0.25p each. So these must be from last years employee warrants. There are only three persons with enough warrants. And only one of them would not trigger some directors dealings/holdings rns: GM.

The fact that he sold shares earlier this year to pay taxes makes me expect him to sell at least shares of 300k worth to pay for them if he hasn't forward sold during the past days.

Let's hope he does it a little more carefully than last time.

Basically we would have gotten away with the same 3-4% today as all other green tech companies. But ... someone here made the perfect treeshake into the price decline.

If you look at the details of the 0.95 trade at 10:30:54, this was marked as a non protected portfolio, single protected transaction.
And if you take a closer look, there was another trade of 2.5m at 1.11p just half a minute earlier.

It almost looks like someone who bought 2.5m shares and quickly sold them back to the person or MM they trusted in order to trigger a price slide. Possibly also a nice touch among MMs.

Before the action bid = ask = 1.20 was set to clean up, then the action, and then briefly bid = ask = 1.10 to clean up again. After this it went further down and it was harvesting time.

I have never seen such thing before, but it worked perfectly. Within five minutes we were from bid / ask 1.20 / 1.25 to 1.05 / 1.10.

Looks like the minutes have been changed. The whole "'Biomass Energy Plant – construction: Wade Wheeler reported [...] More to come, as this plays out.'" paragraph has diappeared. Only the Who is Who is still therer, but eben there statements like "This was mandated by Lapis as one of the conditions to avoid foreclosure. " are now missing.