The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
It's been an incredible year for SNT. A tiny AIM company that has started to land Govt. contracts, has ambitious expansion plans, has no debt, has billionaire backers and board members, has a net cash position of just under 1 million - and is already profit making!!!
Mapp, you're looking at the wrong villains here. TCG went bust because it owed over 3 billion quid, and wasn't making enough profit to service the debt (let alone ever repay it). Blame for this lies completely with the directors who got the company into this mess. Not with shorters, banks, hedge funds, the govt., auditors or Santa Claus. The directors. Period.
It has been so so so obvious for many months that this would end in total wipe out for shareholders, that I have no sympathy for them. The staff of TC, who by all accounts were dedicated and supremely professional right to the end - including the staff on the last flight to land - have my sincere sympathy and good wishes for the future. The BoD who were incompetent, clueless and grossly overpaid should be banned from being company directors, as they are incapable of doing the job.
Looking back, I concluded TCG was finished when the sp was 56p. CAA are now on standby to repatriate holidaymakers, reports are rife that TCG will collapse on Sunday, and even if it survives shareholders are being told they will be all but wiped out entirely. Anyone doing anything but dumping this needs their bumps feeling.