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EBITDA 2022 loss Ā£6.4m
EBITDA 2023 loss Ā£3.8m
Total loss Ā£10.2m
Reduction in costs per month from an eye-watering Ā£660k to Ā£300k. Good. But the company still has to make Ā£3.6m per year to break-even.
Cash balance of Ā£954k which includes a short-term loan of around Ā£210k from Levi.
Levi recently gave away half the company for Ā£600k and will be hamstrung by the SP/market cap on any further capital raise. Those who bought yesterday are just bonkers in my opinion. But FOMO is a very powerful feelingā¦..
They need a lot of cash
And all you FOMO PIs have done is provide liquidity to Bergen and the market-makers at elevated levels. So Bergen has been handsomely rewarded for pulling the plug on its loan and not extending terms. And the market-makers have been able to get short at higher levels. Iām sure they all just canāt believe itā¦ā¦
@Stephenallday
Why did the CEO sell half the company for Ā£600k? Surely he knows the true value of this company?
So the company was unable to borrow Ā£600k to clear a debt. That means that no banks or last-resort lenders were interested. Thatās a fact. And Levi and his mates didnāt want to or couldnāt club together Ā£600k either. Hmm. š¤
@Quant
Do you understand what a P/E ratio is ?
Itās a price to earnings ratio.
You have of course quoted a turnover of Ā£10m. Not earnings. So either you are simple or are simply trying to mislead? Please Quantify
For those who think there are new deals in the pipelineā¦..
Why did Levi effectively sell half the company to clear a Ā£600k loan?
Why couldnāt the BoD raise Ā£600k to clear the debt?
Why would no other lenders lend to clear the debt?
Huge orders in the pipeline? Sounds to me more like a pipe-dream.
Well that message was aimed at Warrie but thanks for your reply Watching2.
Me putting doubt in peopleās minds?? Are you for real? The CEO sold half the company for Ā£600k. And not to a white knight investor but to clear a debt. By issuance of new shares. Yet you point the finger at me. Lol. Actually all I have done is simply highlight the existential risk here and warned those averaging down at 1.80 (after the deal was announced) that they were, well, mad!
I saw a post recently on X. It would serve you well to always have it in the back of your mindā¦..
āImmature traders speak in certainties. It is a dead giveaway that someone doesn't know what they are talking about when they say, "xyz will do XXX."
Professionals mention risk; those are the people to follow on X or anywhere else
@Warrie
Not all those with a negative spin on things are āleechesā wanting you to sell out cheaply. Thatās just a yarn continually spun by PI holders who own stocks that are performing badly. Average down, you havenāt lost anything until you sell, blah, blah. All absolute tosh of course. Ask CastlePaul13 over at NNN and any number of the other rampers over there. They never sold and they lost absolutely everything. As predicted actually. And the chances of failure here are very high too. Something that you should be very worried about and careful of. Telling newbies to average-down in a stock that is haemorrhaging is absolutely not sound advice, whatever you may thinkā¦..
@Watching2
The disgraceful ones are the likes of you and Castle who shamelessly ramp irrespective of news or circumstances changing.
Hereās your recent post , hmmm. Stock down 75% since then.
Watching2
Posted in: ENET
Posts: 6,582
Price: 4.05
No Opinion
RE: Dropping2 Nov 2023 15:04
Drizzly are you working for the MMS lol. This is. No brainer of a buy
Reads the rns. Matey lol x