The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
lossingless - sonr/myredd are not working with reddit it just built an app, so reddit users can browse easier. To me, it looks like its still in beta development. The simple fact is, come its year-end at the end of this month, it will virtually out of cash and in IMHO a fund is a 100% cert in Dec/Jan. Rob's P prediction of being cash flow positive by Q1 (end of Feb 2018) is just not achievable - do the maths. Even on turnover of �15m it would still generate losses.
If you want to check the financial state of SONR News Ltd, before it was acquired, I suggest you go on to the Companies House website. Also, have a look a similarweb.com You may find some interesting stats on visits etc. Always good to keep your eyes open!
Until recently I had a small position left over from the days when Simon Cole was CEO, but thankfully sold virtually all in 2014. I went off it principally because the market has becoming saturated these kinds of businesses, which can only hurt margins. More recent reasons for me was the SONR acquisition, which was just too cosy, with too many related parties (SONR's will add extra cost into BOOM overheads were �966k in 2016 according to Companies H); also why is Rob P the only director registered with companies house, now the CFO has gone? Why did he go so shorting after the interim's (I thought he's Candy's man)? But my biggest concern in the immediate future is another large fund raise. Run the maths, even if it blows the brokers revenue forecasts out on the water, it will not have enough cash to convince the audits it can carry on for the next 12 month, post its year end the end of this month. For these reasons I'm no longer a holder and wish you all the best of luck.
Was a big buyer up and till recently- but I suspect he may be wrong with this cash burning dog
The only positive from these results is Walsh has gone...
Haven't owned these for quite some time, but look in to see how these pl*nk*rs are doing from time to time as this is the last day to get its accounts out before suspension. How difficult is it to get a very simple set of accounts out? Running out of money again. Will the conv pref share charity bail them out again? Is it still a going concern. We will find out later today.
Well it has now been a week since Myers purchased 400,000 shares at 26p and still no sight of the trade, so it wasn't a delayed trade due to it being outside a normal market size transaction. If this RNS on 15th May hadn't been announced AVO would have been forced to call a general meeting, as it created enough buyers to keep the shares price above 27.5p. The management IMHO can't be trusted and have shown utter contempt. How can anyone ever believe another RNS or anything they say.
Kenj - Plowman is another issue. Most probably called up shares, which he won't have to pay for. My grip is with Myers who bought 400,000 shares at 26p Monday before 1.00pm. The only way this was possible if the shares had been crossed and not put through the market. I think its NOMAD should perhaps be at least checking, as these director purchases is the only thing stopping a GM
I have lost money here, so my sympathies. The sums of money need to get this over the line are eye watering and I suppose a few eggs may need to be broken along the way. I'm still waiting to see prof Steve Myers 400000 share purchase yesterday at 26p (saved avo's bacon) go though the market, because from what I can see none of the trades at 26p yesterday add up to this amount and the rns doesn't state an average price. Later perhaps
Ian 1234 - news unlikely due to insider rules. Directors would be buying ahead of news, which is illegal. Interesting to see if another GM will be called or whether it scrapped through the 10 day 110% above 25p nominal value clause in the convertible loan notes terms. If it was based on a weighted average, I suspect not. If based on mid closing price a close thing. Whether we would ever be told is another matter cos after being lied to at the last placing, I wouldn't believe much the board says. I wish you luck with your investment. Off for a jog
As no one seems to appreciate, resolution 2 at the last GM allows the board of directors to issue themselves free shares up to the value of £6m from memory to compensate them for their heroic efforts of buying shares. Open your eyes
Firstly, I'm not currently a holder, but I have met Ajay, the company's Investor guy on a few occasions. This is my view why the share price has been heading south for sometime. Investors got into OPG because it was a simple model, build a couple of power stations and sell the generation into an expanding developing country. Once it started to throw off cash, it would be sold off to s specialist energy fund. Easy, but we had delays, which caused the highs and lows in the share price over the years, as investors moved on and new ones came in. What has shifted in investors sentiment since the middle of last year is solar power. This wasn't part of the original deal and the business model changed. This has led IMHO, some of the older investors to sell. New institutional investors will come in, but will won't to see this new model work first. Thus the catch 22 at the moment, older holders selling and few panic stricken PI's selling out. This business generates high levels of free cash flow and the people behind it do know the pitfalls of working in India. Personally, I think you will double your money from here on a 12 mth horizon, but it will need the management team to convince a new set of investors that OPG will be a major energy player in the next 10 years and that anyone investing is in for the long haul.
Latino - man of Latin American origin - this will be back to 0.10p soon...!!
Linto, it shouldn't even be 0.10p, so at 0.41p mid close its at a bonkers valuation. It not as though it has a product or may be something at the bottom of a hole to dream about. Its an investment company and its one and only real investment is worth zero (as per its announcement 4th May) and has about £800k in cash. Its another investment is being investigated for fraud and the books at £500k. Why this equals a current £6.5m mkt cap is just pure pump and dump, but hey what do I know DYOR
Latino - rerate on what? It's main investment has gone bust and has nothing else. Even the company has no idea why the share price has gone up. Bonkers