Member Info for fatherelmer

Wassatt, in the OO RNS the �0.37m was to cover costs / fees associated with the OO (�0.11m) and provide working capital to TSTR to fund day to day BAU (�0.25m) so this is fine. The issue for me is that it would now appear that after the OO instead of 'only' having $740k of the original loan $6m outstanding it would appear that only $2.7m of this loan was paid off (so leaving $3.3m) to which a further $2.8m has now been added (for a total outstanding loan of $6.1m). As today's RNS also says the terms of the loan are the same as the previous one ie interest at 25% and requires repayment by 30th June 2018 it's almost as if the OO never happened.....

Krispy, it's probably even worse than that as the OO didn't fully pay off the original loan notes ($740,000 was to be left outstanding @ 25%) and so this latest RNS just confuses (well me at least) as it only talks about $2.7m of the OO proceeds being used to pay down the original loan, thus implying that there could be several $m in total still to pay off between the combination of the two loans.....given that the terms were debt or equity fund raise to pay this off I suspect there is (a lot?) more pain to come for us poor PIs before 30th June EVEN IF the $2m commissioning related payment is received (in time)...... Does anybody now know / can confirm the total outstanding between these two loans and the payments terms attached??? Surprised the SP is holding up TBH.

Krispy, the $2m due upon commissioning won't be enough as the principal is $2m and the interest rate is either 15% or 25% depending upon which previous loan they are talking about. I also wonder if this has to be repaid by 30th June 2018 which may make any delays unhelpful....

So Herald Investment Management have reduced their holding (by ca. 1m shares) I wonder why, taking some profit or calling the top?

Capt, to go weapons free usually means you've been authorised to engage the enemy, all guns blazing....

Flappingchicken, IMO you are giving a couple of shorting numpties on Twitter too much credit, this is nothing to do with them but rather the usual (of late) decline due to lack of news that seems to follow the sugar rush high of a positive RNS.

This is the reason... http://avherald.com/h?article=4b3cb9b8

Or 54m kg - given that they can only make up to 1 kg (or perhaps after last years fundraising it is 10 kg) at a time then that'll be quite a challenge!! Growl, growl, growl ;-)

AJ, if what you say is correct there are going to be quite a few upset folks and the Brokers would appear to have right royal FUBAR'd the process. I guess time will tell - especially if folks try and (or even successfully) sell the shares that may have been incorrectly allocated / processed.....

crackup, no they won't this is NOT franchising - the deal with the Chinese (should it be completed) will result in the Chinese investing $55m in the new Chinese factory / Science Park, cash will only come to VRS as part of licencing revenue and / or expenses for 'know how' (eg in setting up the machinery / plant). Any similar Asian deals that Neill talked of yesterday (via the new VRS Hong Kong entity) are envisaged to work in the same way.

I agree that Neill handled this poster well, though that doesn't mean that some of the things said, and questions asked weren't perfectly valid. Also interesting to note that they declared a 96p short position and so today aren't looking too bad....

luckyorange, that's good to hear, though as Neill says (on the podcast) the deal still has to be negotiated and closed, so lets hope this position is maintained.....

Neill and the team are in London today and tomorrow, where I suspect they are talking with their lawyers on the next stage of the China news ie the contractual details of the deal, and it's this deal that they then plan to replicate, so don't expect anymore news re further Asian locations anytime soon, as they'll first have to negotiate, and close, the Chinese one....

Escovido, no problems, no offense taken and hopefully none given, upon re-reading I can see you meant it for someone else, it's just I'm usually the lone voice on here ;-)

luckyorange, this is very much my point - today's RNS was about a Letter of Intent (ie something with POTENTIAL) when the facilities become operational and VRS are sharing revenues / profits etc (we don't know the terms as per my questions earlier) then this will indeed START to be Transformational (as would last weeks RNS, for instance, when orders start to flow through) but not before - let's review again in June, or more likely September when the Finals come out.

francobett, don't worry about me I've been in here for about 4 years, with an average of 16p, and no plans to sell

IMO none of the news since October 2017 is Transformative for VRS, however, all the news does have the POTENTIAL to be Transformative but individually on there own, or collectively together, as they stand now are not. In order for them to be Transformative they will need to deliver two things (regular / repeat and growing) orders AND profit, until then..... I also know that this view is counter to most on this board and so I fully expect to get some flack - so fire away.....

escovido, I will admit by nature I tend to be more of a pessimist than an optimist, that doesn't mean however, that a little caution, and some healthy pragmatism, isn't actually a good thing when considering investments rather than just believing in hype.

luckyorange, I look forward to hearing Neill on the Podcast and learning more as I certainly hope he knows more about this, and the other, deals than I do - doesn't mean (for LTH like me) that my concerns and questions aren't valid. However, I can understand if you are a trader looking for a quick buck then you don't want to hear these kind of things / anything remotely negative / concerning.

hpsauce, you may have noticed that on this board anything that doesn't say VRS is the best thing since sliced bread and that the SP will be �1m before the close of play is usually given short shrift here.