Member Info for frankyee

In preparing these projections the directors have taken into account the Group's available cash as at the date of signing of these financial statements, combined with the ability to sell down shares in the Group's quoted equity investments, and are satisfied this provides the Group and Company with more than adequate headroom

Translation

We recently diluted our shares value and can easily do it again, and we can sell down our stake in salt GNIP Gdnt and Lucyd over the next year to pay wages and keep the lights on, not exactly music to investors ears

I accept you know more about Tek than me, im just a newcomer here so investors should listen to you Wozzer and take my comments with a pinch of salt, and you’re right the future isn’t determined by the past and things could be very different very soon, i certainly hope it is and you make a good return on your investment

Sometimes I think a simple breakdown of a business’s past performance is necessary especially if the share price looks attractive, there’s usually a very good reason for it.

They have said numerous times in the past they want to pay dividends but they never have, they’ve talked about bringing in new investments for years and years but never did until last week

and quite recently they patted themselves on the back for cutting operating costs it’s not a massive achievement considering they have left to do Gdnt has it’s own management as does the rest of the companies, God knows what they’re doing on a day to day basis

If 5 years ago the CEO come out and said - we want to do less work each year until we have nothing left to do, and we won’t replace a listed business with a new startup, and we’ll do 3 fundraisers a year and never give investors a penny in dividends. And Instead of investing our profits in new opportunities well just leave it in the legacy businesses we have no control of until it gets diluted to nothing

Right now all we know is that previous monetisation events haven’t been sufficient to either make further investments or give special dividends, and the only certainty is that there will be a dilution event at least twice every year.

Tek is nothing like what it was when it listed, and I have any idea what they will look like in 12-18 months time

I know the nav is currently quite high but salt is being diluted regularly and probably will be for the next few years, imo Tek should sell that quickly. The capital they had in BELL, LUCYD and GNIP has reduced until there’s nothing left it’s not really the strongest business model, if Tek insists on holding majority shares in these businesses after ipo they should put someone on the board to protect Tek’s investors

When I was buying tek I was looking at past presentations, this new business startup is the first new investment they’ve taken for near 10 years,

Before the BELL IPO they had gdnt gnip salt lucyd, I was wondering why they never took a new startup every time they got another company listed,

Tekcapital creates value from investing in new, university and corporate discoveries that can enhance people’s lives. But after the guident IPO they’re left with 1 startup that the CEO thought up over the weekend

I don’t know if this a good opportunity but when Gdnt is gone the CEO should take a 50% reduction of his salary whilst they work on his ideas, or he should step down and lead the new startup with Tek just offering the same level of support they have with previous investments

Im not smart enough to educate anyone i only know what the company says are the problems, at best im regurgitating old news from RNSs

Thanks for posting about CTL they look quite interesting, first impressions they look much safer investment than this company. I will stop posting now because I’d like to learn more about them gl

Of course there can only be one person who see this collapse coming, that’s funny but you’re doing yourself a disservice by making silly statements and not acknowledging the problem

Thats the answer to the question why isn’t PB buying any shares

And this investment isn’t for wife’s and orphans or anyone sensible

I can hear our Spanish friends shouting Ay, Caramba thats a sh,ite storm of a financial mess

Someone said yesterday that the mcap is less than the price paid for the central block, give it a couple months and the working capital deficit will be higher than the price paid for the central block

And the debt will probably be 3x the price paid for the central block, these are the painful facts

The capital deficit grows every time they update the market, txp said in December the vat refund wouldn’t be enough to cover the short term liquidity problem now 6 months later the deficit has grown by $7 million sin another month or so it will barely cover the increase in deficit since December

And the breach of the loan terms in December are obviously much worse now with the deficit increasing all the time, they won’t be lending more money that’s never going to happen, it’s a nailed on fundraiser coming at best 5p could be much lower imo

The issues never get resolved they just get kicked down the road

As at December 31, 2025, the Company had a working capital deficit of $15.4 million, excluding the convertible debenture which is only convertible into common shares of the Company at any time prior to maturity in August 2028. In the absence of timely collection of value added tax receivables and incremental production from its 2025 development well program, which historically has experienced additional capital costs and operational challenges impacting additional production, the Company expects that cash balances may not be sufficient to fund projected operating and development expenditures and required bank debt repayments of $12.8 million, included in the working capital deficit, over the next twelve months. In addition, the Company projects a breach of its bank debt net senior funded debt to trailing annual EBIDA and debt service coverage covenants as of December 31, 2026, which could result in the entire bank debt balance becoming due at that time. These conditions indicate the existence of material uncertainties that may cast significant doubt upon the Company's ability to continue as a going concern.

The Company's ability to continue as a going concern is dependent upon generating sufficient cash flows from operations, obtaining additional financing through debt or equity, or restructuring existing debt obligations and financial covenants. Management is actively evaluating alternatives to meet the remaining capital requirements, including potential additional debt or equity financing and adjustments to its operational and development plans.

FROM 14th MAY

Liquidity and Recapitalization

As at March 31, 2026, the Company had a working capital deficit of $22.2 million (excluding the convertible debenture maturing in 2028). Due to the current debt structure and projected 2026 covenant levels, the Company's March 31, 2026 unaudited interim condensed financial statements include a note regarding the existence of material uncertainties over its ability to continue as a going concern.

Cut me some slack i was addressed so I responded, I tried to end that conversation and you address me, so looks like im not leaving and get ready for some decamping posts for calling me Ross you little fool

And I know im poisonous too but I’m never going to write the deep research either, I read a few RNSs watch a couple presentations and invest if I like what I hear but sell just as quickly if they fall short of their goals

For the record i think stas has written some of the very best posts I’ve read, very well researched and worded. But he’s written some of the most poisonous personal attacks and stalked anyone who doesn’t agree with every word, he’s like a mix of the very best and worst of these chat rooms

Im probably nowhere near as smart as you stas and I’ve never claimed to be, but I’m definitely less bitter and emotional about investments and differing opinions

One last post from me for a while, I think the fundraiser will be done within 5 weeks, or 2 weeks following the announcement that the compressor is successfully installed. Whichever come first

Like I’ve told you previously the head is for investments and the heart is for family, don’t get emotional about your money because you’re end up losing it all