Member Info for Dibs61

Like a placing coming to me. All these inexplicable sell trades when everything is so rosy in the garden. Classic AIM.

What was the point of it? It’s all a bit desperate to keep regurgitating the stuff we already know. Doesn’t Adam Reynolds know any better than to do that?

Yes an encouraging investment by Piers Clark who joined the board as an NED back in January. He’s had a good look and decided to put a decent slug in. And at a premium in the open market which is interesting because I would’ve thought he could’ve taken some in the excess offer?

Absolutely no reaction in this torpid market to director buying!

Didn't realise (and therefore factor in) the R&D credit was due soon. So therefore I agree and thanks for the clarification.

Quote:

"Mike was very clear about the capital raising, based on business as usual they don't need funds. But have no doubt if the Solar Wind revenue picks up there will be a raising."

Based on BAU.... thats an easy get out clause. There IS going to be a placing and soon. The SP is screaming it out at you.

Missing your ruthless SP commentary here :)

To be clear not deramping here. For me its pretty obvious why this is selling off. They will need cash and quite soon. They had sterling equiv of £1m in the bank end June. They are burning cash at best approx £120k pm so end this month they're down to £0.5m. Thats not enough for a business with big aspirations to scale up etc etc

So yes prospects look good. I like the company. They have succeeded in providing shareholder value for long term holders whether you look at the 2, 3 or 5 year charts. So they've done pretty well by AIM standards.

I just think the market is working on a fundraising in the next three months max and thats why there is currently SP weakness.

On the 8th they announce additional funding should be agreed in the next WEEK and now 10 days later - complete silence. It’s quite obvious they absolutely need this £1m and soon just for working capital and yet more consolidation costs! And even then it’s not the end of it because if you read the announcement on the 8th it says the £1m is an ‘initial tranche’! How much more cash can they burn before someone says enough is enough, good money after bad.

It’s a very interesting thought. I guess it hadn’t occurred to me since the two companies have rather different business models. True they are in the same industry as it were. But OMIP are all about exploiting music IP rights whilst 7DIG offer B2B streaming platform solutions as well.

I don’t rate 7DIG management to make it a successful profitable enterprise but I could imagine that with MI and ID at the helm they could transform their business. Watch this space I suppose...

Can non-shareholders apply for shares in the excess application of OO? I think the answers got to be no but just checking.

In the circumstances can understand why existing shareholders won’t be topping up in the market atm. Good to have Sunup as a backstop for the offer too.

Need these partnerships to start converting into sales.

Yes its oh so easy to be clever in hindsight....

Nice website for WEC. They certainly seem to be what they claim them to be.

https://www.wecprojects.com

Let’s see what the market thinks.

Without fire

That’s because something IS up! An RNS in CAPITAL LETTERS should ring alarm bells immediately.

All very desperate and all very transparent

The market has well and truly wised up to this caper. Looks to be a big overhang on the existing Share capital before you even start flooding the market with more confetti!

I’ve been saying they need cash for the past week or so. This is a classic Flx Rampy Rampy announcement before the inevitable placing. And besides if they really are having to scale up as they suggest then more funds will be needed.

So, since we're now all agreed that more funding will be required despite Floridas incorrect reading of the RNS, How much do we think the company will require and how soon to the next placing? I'm going for another £2.5m within six months @ 7p. Not looking ahead further than that until we can see if growth at the previous rate resumes from the slowdown seen in the recent update.

Florida - I must admit that did bring a smile, no a laugh, as I clearly directed my ire at the wrong individual! :)

Apologies to Sorcerer. So come on then Florida over to you.....

For a person who claims to have magic powers (ie.Sorcerer) it seems to me that they may be necessary in order to produce your "Future Gold" prediction lol Perhaps you should get in touch with Lyn and puff away that £12m debt that has built up and no one wants to mention.

I'd be interested to know why you think all my comments lack any credibility when all I have done is extracted the FACTS from the companys results. I challenge you here to tell me what I have said that is untrue.

As for your dismissal of my suggestion of future fundraisings you clearly did not read the RNS properly. I will quote it here for you to remove any doubt:

"The new CEO is currently leading a strategic planning process which is due to deliver a revised business plan in the coming months, when the directors anticipate that further fundraising will be required to support the execution of that growth strategy and also ensure sufficient liquidity for the business. The Directors are confident that this can be achieved due to their strong track record of successful fundraising and their understanding of current levels of investor interest, along with the new management team and the ongoing support of investors now that the litigation risks have been resolved."

That is not a 'maybe' Sorcerer, a company cannot get any clearer than that. THEIR words not mine.

So, firstly, stop misleading people and secondly tell me what I have said that is incorrect.

No one seems to have spotted that they actually released a trading update with the full year results. And now, two weeks later they release another trading update for the same period. The difference between the two - £100k. Not worth it was it. Just looks desperate. The other thing to note is that they are comparing to H1 the previous year. Sorry Lyn you won’t get away with that one, this is NOT a seasonal business. If you compare to the previous half year period the growth is far smaller. So, what can we deduce from this once we use relevant statistics. We can deduce that costs/expenses are growing faster than revenues and that’s why they said they would focus on this, because they can see it is a major issue.

The other thing that looks desperate is to mention the litigation yet again. The ‘dividend’ from that has disappeared Lyn.

It is utter fantasy to be suggesting the sp is going to quickly recover to previous highs. The truth is out there now. There is a lot of work to be done to reign in costs. Revenues have slowed markedly. They need possibly several fundraising’s in the next year or more to get through this period. Don’t be taken in by PI’s who have large holdings and are trying to (understandably) protect them by spinning regurgitated news.

It therefore should not be any surprise that the market is selling this off.