Member Info for elcap

Balance owed to RF is reduced by the price they get the shares at (10p for this lot), it is irrelevant what they sell them for.

If they sell them all and then the price drops to 7p, however many share they take at 7p will be how much what SAR owe them is reduced by.

It is irrelevant as to whether they sell then at 7p or 70p. It is only the monetary value equivalent for the no. of share issued to them at whatever price they are issued.

We need to pay them off asap in my opinion.

I think we would be beter off paying them in full in cash and having another WRAP.

Elcap

I hear you Laz, maybe Rf was a better option than the City. However the BoD could have apporached PI's first. The last WRAP proves PI's would have been a better option. Certainly in the first instance anyway. Could have then sought a smaller top fund from city etc if required.

I would take a lot of convincing that RF deal was the best option. Especially as it would appear they were on a mission to destroy the company (which they very nearly did).

Elcap

Looking aback at the agreement RF knew that if SAR owed over a million and SP was low then agreement meant that RF could not lend anymore money to SAR. If RF were looking at reverse takeover of SAR (like RF have just done to another company) then SAR being unable to draw down anymore funds from RF was exactly what RF would have wanted.

The more I look at it the more it makes me angry. Who the hell recommended the deal to SAR. At the next AGM or Investor meets meeting it will be the first, second and third question I will be asking the board. If it was Peel Hunt then serious questions need to be asked as to whether they were acting in their Client's best interest. James at PH may have some questions to answer.

Thank god us PI's stepped in to save the day. The more I think about it the more I am realising how close we came to the scenario above actually happening. I hope the board realise how close they came to losing the company.

Hopefully all now back on track and SP & SAR will go from strength to strength and that the board have learned a valuable lesson, never to be repeated.

Have agreat weekend everyone.

Elcap

AAAARGGHHH! The sooner we get rid of RF & PH the better.

W

Personally I would rather SAR pay them from the extra funds raised in the WRAP. We can then cut ourcloth accordingly without RF involvment

PLease can everyone sign this petition. https://petition.parliament.uk/petitions/657294

No more NOT more more. apologies

The plus side of SAR buying RF's shares off them is that those shares would be removed from the market. A WRAP for the amount owed would equate to more more shares being issued than what are already out there in RF's sticky little grubby hands. In effect it would be a transfer of shares in one fell swoop from RF to PI's.

Instead of RF selling when they want in an effort to surpress the SP.

Elcap

Interesst free loan or no. I would rather we get rid of Peel Hunt & Riverfort as quickly as possible. They are at best, an anchor on a share price, at worst, an extremely detrimental force on the Share price.

If we then needed a further WRAP in a few months time I would be more than happy to participate (as I did this time), n fact I would be even keener to be involved.

I welcome others thoughts on this as if a lot of us agree I will push this pont (via email) to Dr's Mitchell & Parker.

Elcap

An RNS stating RF have no more shares and Peel Hunt are no longer involved would have (IMHO) a significant positive effect on the share price.

It would be good to know when they have no more shares to sell. Yes they would still have warrants but I think it would be a huge boost for PI's to know RF are out of the equation (apart from warrants).

Well worth cost of an RNS I think.

Elcap

Is it not possible to buy RF's shares from them with the spare cash?

If the BOD used all the funds to clear Riverfort debt still owed. I would quite happily participate in another WRAP on the understanding that the BOD would never seek that sort of finaning without first getting agreement from Shareholders.

We could do WRAP after WRAP and still be far better off than the horrific agreement they entered into with Riverfort.

Never again!!!

They'd had better have learnt from this.

Elcap

How do we get rid of Riverfort?

How much to pay them off?

Elcap

I think they were damned if they do and damned if they don't iro the size of the WRAP offerring. If they had set bar too high and didn't get the amount they asked for it would have sent a really bad message to the market. Not set it high enough and we would moan they should have asked for more. They have probably played it about right IMHO. Any guesses on how much we think they rasied from the WRAP? I'll go for £750,000.

Elcap

I will raise a glass in celebration on the day it is confirmed Peel Hunt are no longer involved.

I will raise a dozen glasses on the day it is confirmed Riverfort are also no longer involved.

If Peel Hunt are gone that is fantastic news and well worth an RNS.

Warty - glad to hear you have had op and are now on the road to recovery.

I get people's frustrations. I too am frustrated, however I think you have to look forward. Yes I have concerns about the ability of the BOD to close the deal on 1801 & 1802, and I am concerned about their previous decision to consolidate and go with RF. But we are where we are, and at today's SP I think we are massively undervalued.

Do I think we will ultimately reach the promised land? Yes, I do but that is despite the board not because of them.

Do I think the board have learnt from their mistakes. I truely hope so!

Do I think the SP will rise significantly from these levels? Yes I do.

Hence I remain invested and will top up when I can.

There is no point reliving the past. Learn from it, definitely. Don't forgeet it but let it go as we are where we are and the future still looks very bright.

AIMHO DYOR

Elcap

fingers crossed for you warty that you have had op today and all is well.

i know how you feel 4 yrs ago i fell off ladder in my kitchen and broke my leg /ankle in 7 places. now got rod and 11 screws in my leg./ ankle.

rehab was a ***** but on the positive side i now know when it's going to rain. it's like my ankle is a barometer.!!

good luck!!

elcap

Dr Zed, you have to log into ii and it comes up as a corporate action