Member Info for Doc83

IAMRICH AT IT AGAIN!

Criticising the so called derampers who have so far been far more right than him!

You must be Mike Buck’s *****cat. Supervillain pet.

*now underwater on these! So no selling from me and hope it still comes good.

K3 - I’m not underwater on these. But you’re missing the point. Management and MB have not shown themselves in a good light. Externally, the LP is extremely y important. But I’d argue what is more important within a company than its management team and BOD? Many on here seem happy to accept a team that doesn’t communicate to its investors (owners!) or when it does communicate, it lies or misleads.

Raises and even accelerated book builds some take time to put together. The legals for a start, going out to your large investors to enquire if they’ll support it who then have to go away and think about it. This would have been known for potentially some weeks.

The ultra cynic would say that MB knew he needed a raise so thought he’d dangle a carrot just before Christmas because he knew he couldn’t raise any cash with the SP at 1.6p. The dangled carrot being that he had a conversation with a member of the MG who told him 1-3 months back in October, hoping that would push the price up ready for a raise. He must have been like a Cheshire Cat when the SP went to 5.5p!

The slightly less cynical might say he seen the SP jump up so much that he thought what a great time to do a raise, too good of an opportunity to pass up, to secure wages for another couple of years… and all for a personal input of only $25k!

The non cynical way of thinking is that he misjudged badly the situation and his comments that we were “fully funded for velociraptor 1” were incorrect and so he needed to do a raise “primarily for velociraptor 1”.

But for me, with this not being something you decide in a matter of hours, something a bit fishy has gone on. But even the non cynical scenario shows poor judgment from a CEO. And that’s before I bang on about poor communication to shareholders again. Or the fact a London listed company is having its AGM in Mongolia.

And yet many on here still support him. Personally, I think it’s very poor behaviour. Guys, you can still believe in the prospects of the company without thinking the CEO is wonderful.

"I think they feel the 111 are not senior enough to get the trial...."

Professional, you may well be right. But IMO RM and the significantly experienced and well paid team he already has with him should be more than enough to pitch for a trial. But time will tell.

"that guy/Girl will only come if they offer a **** Load of money and options"

Maybe. But if I thought the company had no prospects or future, would an extra 20% on the salary really tempt me when I'd likely be out of a job within 12 months? The serious people applying for this role will know exactly how all this works so would surely want some reassurances. That said, plenty of experienced people, like Richard Francis, joined pre sprinter catastrophe.

Jess, I think you're correct.

But still would appear to be good news that they have bumped up the salary quite significantly. It tells me it wasn't some ghost advert form last year that got accidentally reactivated!

Christ alive, Unwiseowl is worse than a bad migraine with a hangover on top.

K3VMC - MATD make ZERO money and rely on fundraises to pay the bills and salaries. I took part in the fundraise in 2021, therefore I have contributed towards this.

How else do you think MB gets paid?

WHAT DO YOU NOT UNDERSTAND ABOUT THIS???

The number of people defending this is staggering. At the very least MB should have communicated things much better to investors. He has shown complete disregard to those who ultimately have paid his wages for so many years.

DocD - are you morphing into a DocManieeka!?

Well, another top up for me. I think we'll find out soon one way or another if it's an inspired move or just blind faith/utter madness.

I still think SNG001 will get that one last chance to prove itself. My biggest concern is probably now that us peasant PI's get shafted somehow. I have a small holding in Petro Matad (MATD) and the BOD have just done something very sh1.tty over there. Just a matter of weeks ago the CEO saying they were fully funded and no raise required when asked directly, yet last night they announce a raise and dilution. I hope the SNG have more scruples than that lot.

Geraint Anderson, CEO of TT electronics plc: “You must have regular dialogue with investors and analysts to build trust and credibility. You need, first of all, for the investors to understand your strategy and then you need to build their confidence as you execute that strategy. You need also to be very clear in setting the expectations as you will always be judged on what you said you will do.”

Anyone recall me posting this just the other day? While iamrich and unwiseowl criticise unhappy investors, perhaps they need to have a word with MB. He has not communicated with shareholders, therefore we don’t understand his strategy. He has not built trust by doing a fundraise “primarily for velociraptor 1” inside 2 months of very enthusiastically proclaiming we “have plenty of bucks in the account to cover velociraptor 1 and a start on 2”.
And he has not set our expectations as is clearly evident by how pi.55ed off many holders are, including some of the more sensible and balanced posters.

Communication is so key. If MB had come out and said LP is taking a bit longer but we want to crack on, we might have been a bit more understanding. But he has misled either knowingly (in this case he’s a scumbag) or unknowingly (worrying for a CEO, no?) investors and for that he should be held to account.

UWOS - you have no credibility here. Just fly back to your nest.

$25k is nothing relative to his salary. In fact, I think it’s a pretty derisory sum of money to put in when he has come cap in hand to investors he has just lied to.

moveonup - actually 50% more. But I clocked the “minimum” part straight away and so know we’d be getting diluted more significantly. 17% in the end did I read? Shocking.

Gunto - thanks for that. Can’t believe this hasn’t been jumped all over. Now urgent and with a material increase in salary to reflect that. Surely if there was nothing planned you wouldn’t be employing someone on such a significant salary and certainly not urgently.

iamrich at it again! You mean the same doom mongerers who weren’t listening to rampers like you and who were right that this wasn’t heading in one direction only…. You’re as bad a MB. Not quite a bad a mad owl though.

Monica Kraft - certainly a new name on me but clearly very experienced and as you say, has links with AZN. They’re certainly hanging around in good circles at least.

iamrich: “ Hold or buy more, velociraptor is on its way, LP is anyday,”

I’ve been out all night and come back to read the same old garbage from iamrich. “LP is anyday”, lol.

If LP was due anytime soon they wouldn’t be doing a raise now. They’d wait till after. End of.

$25k on a $4m raise is pretty small fry. I read nothing into that. The CEO has to partake and this seems the bare minimum.

Fundraises take a little bit of time to put together, so would've surely known this was in the offing a week or so back and makes it even more galling listening to his misleading words of 6th December.

I do hope they do a live, online/video conf Q&A at the AGM. There's certainly questions I want to ask.

Dozzawba - your measured thoughts on all this? And a comment on how this looks for the LP?

Thornogson - fair comments. But here we are drilling to find oil elsewhere, when we don't even have the LP for the oil we have already found!

Jay - they own 21%+ of the company. So if they don't want to be diluted they kind of have no choice.