Member Info for Dodger16

Change of heart? After such a long planned trick to take SH money.
That's Dr Evil in reverse - why make billions, when we can make millions!

Happy - I think ENQ is the best option.

The CLNs are meant to be paid off now and they are not.
I have read the Jan RNS on financing now.

This advfn post:

The purpose of the January fundraising was to pay down the Convertible Loan Note. They paid down £0.56m immediately in February However, since then, nothing. Holders have converted ( so not paid down, just converted) £96,000 in June, and £112,000 in October, bringing the total outstanding down to £1.477m. BUT, the Company has NOT used the fundraising, or the finance facility to pay down the CLNs. The smaller and smaller amounts getting paid by Riverfort must be being used to keep the lights on. At 13.25p WSG would be getting £150,000 per month from Riverfort. But at 6p ( there are commissions to be paid) WSG will be receiving c£60,000 per month only. And it goes on and on, with each month Riverfort able to sell another 1,200,000 shares, not caring a jot the actual sale price.

yrab - was reading about the whole Riverfort not losing part on ADVFN. How is that? I thought they converted to shares so would want higher price. Bit of a novice understanding the whole CLN thing.

On yesterdays RNS - the cynic in me thinks it is a little unnecessary. If there isn't news on something material soon only the 2020 results will be the driver for recover (assuming they show a decent EBIT).

Dan, same here. Happy with progress on fundamentals. Sp can wait, will come good!

Mrd - fine is a laugh. A drop in the ocean of the profit they made.
You can imagine their BOD messaging their PR dept - "can you just put a message out to the press that we take the UK regulator seriously, something nice, we are too busy drinking champagne to do it ourselves".

It will come! Happy to hold. Its not as if each rns is bringing terrible news...

The lenders lost their appetite to roll the debt on further down the line. That was the problem. COVID mainly and impact on oil but the production was dropping off as well. Ultimately Solan finished PMO.
It has taught me a lot watching how the debt holders have worked with PMO over the last four years. I didn't see this coming at all, could have been very different with Zama sale and no COVID.

At least the value of the future company will benefit from a lot of cost synergies - PMOs board surely will all go.

Win4, you mean the convertible sellers? Was just looking at that. Its not bad compared to a lot of companies. Only £1.4m left as well. Im going to just keep holding this now for better or worse. Really believe good things are coming and its going to grow steadily.

Hope you haven't lost much sk.
I have just been on the sidelines, after last refinance couldn't stomach it.

The drive down of the sp from the pressure of the short left no options.
Agree though, board first for messing up solan then arcm for being deceitful.

ARCM finished pmo as a company and the FCA let them.

TR61 - good call staying out - and selling at that Jan high. It would have been tempting to buy again after such a drop.

Hope you are enjoying life.

I am going to give ENQ a go at some point.

Ammu, thats lower than the 32p you posted on advfn!

Am I being daft or is this as simple as - new deal values PMO at $280m, which after working out USD\GBP at 1.3 means 22p.
Why are people happy on here?

Win4 - they can't do a placing again, not one that would lower SP value.
After everything said in the results (inflection point, profit, £900k EBIT) - it would remove the last strand of credibility.
I am keeping my position here now for the long term. Ignoring SP movement of today. Good RNS - I like the long term recurring revenue element.

What support!?

Happy - enjoy the comedy!
Best ones are when people expect huge money then realise the SP is a reflection of the value of what one would expect to pay - imagine that!