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I wish him the very best, however there is a lot of experience and good will on this message board to help try and turn this around, which could be utilised. This still potentially has legs on it, but with each day that passes, the likelihood of pulling this out of the bag becomes more remote. GLA
So despite a few emails from 'Mo' advising me where to send my money, oddly enough no response to my qestions of (1) Which solicitors are you using, (2) What is your plan of action. Comical. There may be something worth salvaging from this mess, but with each day that passes, it becomes less and less likely. Wonder how Vinton and others who are heavily invested got on - my £50k - 500k at 10p - is now tuppence..... some you win, others not so...
I receieved an email form Mo advising me as to a SC and Accn No to credit my monies to. I replied, in the terms below, but have not had a response. To the organisers of this initiative, you have my support, but I have no idea who 'Mo' is - what is / are your credentials ? Is this money being collated into a Solicitors' Client Account ? Before use are we going to be assured that until the whole pledged funds are obtained, that insstructions will not be given in part ? I had 500k shares, now worth peanuts - but if someone offered me a credible investment strategy, to raise the £15m - think someone stted £5k per shareholder, then I'd be game, but only if there was a credible strategy. If there was a credible strategy, then my £5k would be considerably more. To the Board - what a comedy of errors !
I'd suggest because they are waiting for the Board to advise as to the definitive numbers.....is it £45m, or £40m....chucking £5m around like it's confetti doesn't endear anyone to anybody. I like Chrisalfa am close to £60k down, but to withdraw now for pennies would be senseless. Anyway EOTB - if you have now sold up, why waste your time bother posting on here ? Less of the negative waves, either post something constructive, or if not - off you pop there's a good lad !
I'd be happy to put £5.5k into the pot - but can only repeat what Scotcha has written. Previously they wanted £40m now it is £45m. There is a definite market for this type of product, just needs to be set out correctly. I am embarrassed for the Board, with the poor comms and lack of openness.
Mr. India - keep the faith. Only post constructive info if you have it to share. I did my research - guided by others on this Forum and the upsides of this are substantial - Microsoft.....however I'd go further and say '....without health, wealth is worthless...', as per the late, great Steve jobs, so this SP could be many multiples of what it is today. Taking a balanced view, it could also all disappear due to an unknown foilble. Good luck to you and others.
Congrats - Thanks to JHFH and others for taking the time to post objective and independent info. Mr. India - keep the faith, or sell up - or at the very least change your name to Moriarty - but let's be having less of the negative waves, stop moaning for the sake of moaning. We all wear 'big boy pants'. If anyone is creating a list of % - I'm at 5.15p ave with 1m shares - when it was at 1.8 odd pence, my alter ego was Mr. India. I was - this close ' ' to changing my name by Deed Poll to Mr. India in fact. I have no plans to sell at 20p or 30p - the MCAP could be substantial. If it all goes back to 1 p - such is life ! Good luck to all - DYOR etc
500k for me - thanks for your efforts
Yasawa - good point re mcapp and sh px. Many here are asking what the ratio will be when the RI hits and unless you have a crystal ball no one will know. The 'So what' - if they issue a RI now, the sh px will tank well below what it is now and I think it will be exceptionally hard to attract new investment. News of re-lending will only see the sh px climb, but the FCA must surely want chapter and verse on how many have sought redress and at what cost to the company. No point in rubber stamping re-lending, if the coy was to go pop shortly thereafter. Difficult times for the AMGO Board, but hopefully they will do better than the shambles of the first Court appearance.
Against. Just a complete shambles from reading the transcript of the Court Hearing (Thanks ISA), AMGO were not prepared to argue their position and its gone from bad to worse, since.. I had my finger poised to sell at 20p, but thought the Judge would see sense that payday lending (with a guarantor) is a genuine need and without it people will turn to loan sharks. When Judgment is reserved..........it is usually bad news. Congrats to Debt Camel - you got what you wanted. I will not be putting in any more money into this share and will consequently collapse. The genuine Claimants will receive feck all. With the CFO bailing, the writing was on the wall for this share - it's way overpriced now with a 19:1 dilution on the cards. Royroy - sorry to hear of your predicament - chin up and with majic fairy dust, this may come good - but that's at least 3 to 5 years from now and so much can happen between then and now --- not wishing to kick a man when he's down........next time remember the No.1 Golden rule - only invest what you can afford to lose. Happy to help you, if I am able to.
Dear All - in light of rising inflation and the talk of impending interest rate rises - what are your thoughts on the implications for borrowers - such as AMGO ? I hold 350k of shares - with a 13p average and have no plans to sell. For my 1p - my thoughts are with any rise of interest rates - the cost of borrowing will increase and lenders such as AMGO will be more in demand. The Board has a good track record - however the last Court hearing was embarrassing, when AMGO clearly did not have their house in order. When the interest rate rise is announced I can see AMGO's SP fall, but it will recover.....
Please do not email the Judge - notable Judges Lord Denning etc - were known to create new precedents by 'making the law fit the facts' , on the basis that - if on the face of it - the injured party had a slim chance of success. Best way to upset a Judge - is for someone who is completely unqualified to write to them directly - giving an unsolicited opinion. Do the Judge's Clerks, or even Judge's read these pages (they shouldn't) ? .....but who would ever know ! Don't email the Judge ! Best way for a Judge to find against in favour of a poor, belittled consumer, who's rights are being championed by the FOS, against a commercial behemoth with £ms at its disposal - that is arguing that it will go pop, if the SOA is not approved ! Don't email the Judge. GLA
Possibly if he adjourns on the basis of requiring further documentation by which to make their decision. In all reality highly unlikely, simply as there is such a backlog across all Courts. Freshfields will be asking the FCA what their bottom line is - they will relay this to Amigo and try and strike a deal. If a deal can be struck then the FCA will save face. No point in having a company go 'pop' however the Judge will be advised as to how much skin the Directors have in the game and this will influence their decision. Can you believe that a Director will let their capital go for a burton, when this is a proven business case ? Conversely AMGO will be painted as the nasty money grabbing commercial giant take the proverbial out of the poor consumer. Red of Black...........place your bets
On paper what a kerfuffle......but the fundamentals are there. The FD and others have not offloaded - and why should they ? What happened with Mint now creates 'difficulties' but these are by no means unsurpassable. Who would have 'mint it ? (thunk it eh ?) I would like to thank JHFH, Chad and others who provided some excellent info and direction, for a newby, as well as Pumpky and others for their diametrically opposed view. From the comments made against JHFH, Chad et all are unfair as 'we all wear long trousers / skirts'. My shares are not going to be sold at a loss - I bought an extra £20k at 6p.....lol.....down even more now. CT results......due at the end of this year, possibly next, or even whenever.....still think that these are oversold - but the PIs and MMs need convincing. GLA / DOYR
Like many I am disappointed in the drop in the SP - however - the FD bought and then topped up. My experience of Accountants is that they are exceptionally risk averse. We have not received any news to confirm that the FD has sold any of his stake. Compare this to the CEO of Avacta - who sold a number of his shares - last year - to be met by support from the rampers and criticism from the de-rampers. Shorlty after the SP then tanked, for various reasons. I would suggest that Avacta's CEO sold to maximise his position, knowing that the SP would retract when the various reasons became known. The humanised mice are the game changer here. Whilst I topped up recently at 8p - with another £20k - thinking that the news from Lilly was imminent - the SP would have now been in the 30s - 40s , or more dependant on the terms of that deal. Why would Vlad politely withdraw from any deal with Lilly ? If the research to date was untenable then I'd have struck a deal with Lilly before today - but by 'going it alone' to me gives clear indication Dr. Vlad and his team have confidence in their work. As it stands now my only regret is that at 4.45 p - this is an absolute bargain. GDA. DYOR