The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
And yet share price is up. Go figure. Can’t believe how many new threads you’ve made every time I stop by here
That tiny buy is hardly a show of confidence.
You clearly haven't followed the work of Riverfort closely before. Look at what they've already done in a short time - over 25% down.
Today's "good news" had little to no effect due to the RF effect. What do you think continues to happen. There is a reason shorts so confident here.
Why would they buy shares with the massive cln being sold? They will wait until its cheaper surely.
To simplify - It is basically like buying in reverse. To open the position - the shares are often be sold into the market. They have to be bought back to close the position.
Sometimes the company being used for the short has stock already on their books they can hedge against, but generally the company will want to keep a flat position. So client 1 has 100k shares long position , client 2 has 50k short position - company keeps 50k on the books. Not always an exact science I am sure.
You clearly don't understand how shorting works.
Fantastic find. Explains their reversal. Really well positioned now with the canmax support. I’ve been bearish on prem several times over the last few months but it’s in a great place now.
Next it will be a new thread for every sentence
Acker clogging the board with threads. Getting tiring.
Great to see the share churn through that placing stock ( I think Peel were selling for them as I was watching the book).
No doubt ready for a leg up for the rest of the week.
Sounded good to me. Risks much reduced - what's not to like. Close your short and go long
All the heroes buying here last week or so and still no bid. That's why CLN's are such a pain. Only going lower as we can see. Call them what you like but Tte naysayers here are 100% spot on. It will just keep grinding lower until Riverfort have sold their stock.
Don’t know why they didn’t do it last week but nobody can argue they don’t have full canmax backing now. Also canmax won’t be dumping into the market. All in all it’s pretty decent tbh.
As I've seen mentioned elsewhere -
"Think you’ve gone down a right rabbit hole there instead of focusing on where it leaves the company. Funded / in a much better position to keep going and with canmax/ supplier support.
Surely it’s pretty obvious that new shares will be printed and admitted to settle supplier invoices. It’s not part of the 4m as you say. And yes they can be sold on the market. I’ve seen it in other shares. I don’t see this as very concerning compared to where they were just few weeks ago - owing canmax $30m+ with some weak FM claim and no ability to raise funds. The way forward is clear now and uncertainty removed.
These agreements are usually received much better than fresh raises every time they need to pay a bill. Maybe they should have raised more from the start - I don’t doubt they could - but optics of this look better and hopefully the share price is higher when these are admitted so will be at a higher price and less dilution"
Nobody is robbing anybody of profit.
If you were to sell and it fell further you have the opportunity to make more profits by buying more for lower. I've seen enough CLN's to see that there is no point in being in the share until news is imminent or the CLN holders have stopped selling.
Not sure what you are seeing - its been 5.5 or lower to buy all morning
All the buys that saw it end 7.5% down.. Yeah sure...
It's not clear... they should have just given current cash position
The cash balance was to 31st may conveniently before the cash acquisition of £7.4m on 1st June 23 for Coris Bioconcept.
They are becoming increasingly shady in the way they are misleading us imo. Getting a little annoyed by it.
Cash balance will be less than £20m ...
Funding at 0.5p you mean for kod? Remind me what the share price is now?
More dilution and a death spiral cln. What a joke.
They can’t even get commitment for the cln and will likely have to raise again.
“Alliance News) - Velocys PLC on Thursday voiced concerns over its ability to continue as a going concern after it launched a fundraise and reported widened annual loss.
The sustainable fuels technology company aims to raise at least GBP32 million by a placing, retail offer, open offer, a conditional issuance of convertible loan notes to Carbon Direct Capital and potential further issuances of convertible loan notes and/or new ordinary shares to investors other than Carbon Direct Capital.
An accelerated bookbuild process for the placing is expected to raise a minimum of GBP6 million with the retail offer and open offer up to GBP500,000 and GBP2.0 million, respectively.
But Velocys said at present it does not have firm commitments from any additional investors to subscribe for the convertible loan notes and has set a deadline of September 30 for completing this part of the fundraise.
The funds will be used to provide working capital and to enable continued work on the reference projects to the point of reaching key decisions.
If the convertible loan notes are issued, the company will move forward with its plans to scale up the organisation.
But in the event that the convertible loan notes are not issued, further funding will be required, in addition to the GBP8 million announced today, to be able to continue as a going concern for at least twelve months.
"These conditions indicate the existence of a material uncertainty that may cast significant doubt on the company and Velocys PLC's ability to continue as a going concern," it said.
In the year to December 31, Velocys reported revenue of just GBP200,000, down from GBP8.3 million and said it expects annual revenue to remain uneven in the short-term due to the growing but concentrated number of projects in development whilst the market becomes more established.
Its pretax loss widened to GBP14.0 million from GBP9.5million the year prior.
Shares in Velocys closed 0.6% lower to 3.40 pence each in London on Thursday.
By Jeremy Cutler, Alliance News reporter”