Member Info for ExMS

The 15bn headroom was only ever going to be used for a placement as the warrants simply never get exercised

The warrants are used as an additional “sweetner” to the already heavily-discounted placement to encourage mms and small brokers to participate.

But it’s a death spiral because the savvy simply sell their stock then go short the stock protected on the upside by the warrants.

My take-this will be the last placement.

The RNS said this:

At the EGM, shareholders will be asked to approve resolutions to:

· increase the Company's share authorities to issue and allot up to 15,000,000,000 new ordinary shares of no par value ("Ordinary Shares") on a non-pre-emptive basis; and

· approve the conversion of unpaid salary and director fees of certain directors of the Company into new Ordinary Shares at the recent placing price of 0.004p, with such amount to be converted to be up to £70,000.

The share authorities are being sought to enable the grant of Warrants associated with the Placing, details of which were announced on 2 February 2026, together with providing additional fundraising capacity, should it be required.

So yes the 15bn shares CAN be used in a placing

Castle is not a paid spokesperson, he really is that silly!

Castle

Your investment thesis seems to be:

Buy, get it wrong, justify.

I remember your reasoning for continuing to buy NNN

“Gareth Cave hasn’t sold”

I mean WTF

Déjà vu with the recent paltry director buys here it would seem

Castle

I assume they must pay at least min wage. You never know, you might need them?

You have made disastrous-investing an art-form.

Happy days 🍷

PS don’t tell the wife…..

Happy Days Castle?

Spread the risk?

I remember you owning:

NNN- gone

VAST- suspended at all-time lows

Braveheart/Truetide -90% since you bought

PHE- nuff said

Well thank you Perry for stating the obvious.

For the avoidance of any doubt you are saying that if a placement fails due to lack of demand then the shares won’t be issued. Erm yes.

1-2 more placements before that time

It’s a good job we have you here otherwise we’d all be lost.

That’s true escape.

They can in theory just keep issuing as long as they have the headroom.

Expect an EGM after the placing. SP so close to zero DL might announce a stock consolidation too.

So more dilution until the train finally runs out of gravy…..

Not difficult to calculate the cost base. DL has told you

Sense does not come into it. They lose in the order of £200k per month and will be close to zero funds again shortly. There is an £800k net shortfall if the warrants don’t get exercised, which they won’t of course. They never do. So a placement of 15bn at 0.002-0.0025 seems obvious. The end is nigh……

Incorrect the 15bn shs of headroom can, and will, be used for a new placement.

8 years of losses

No growth in revenues

£50 m spent

25 bn shares and 15 bn warrants issued

So no, not all CEOs have the right products or ideas

But never mind DL still wins every month

Love the “fully-funded” comment.

Absolutely nowhere near.

£900k short from zero warrants being converted.

DL said that even with the £900k from warrants then funds would only last “towards end of 2026”.

Watch for a volume spike followed by a 15bn share placement between 0.002-0.0025.

Rinse, repeat, and a finally a long-overdue death will follow

I think retirement does strange things to some people.

You’re coming across as a bit of a NUTCase(SIC)

Hamster

Aren’t there any cats that need rescuing?

My bad, I thought this was an ENET board

A 50% rise this week? I’d love to see your workings!

Hello TKOTM

Damned if I do, damned if I don’t. You want me?

🚀🚀🚀

Hammy it’s on my watchlist too!

So at least we can say we are equals on that particular metric!

Unable to answer a simple question Hammy?

Are you embarrassed? I was just asking. I’m curious to know that’s all 😁