The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Why would you put money into genedrive! You love screwing yourself in the ahole then lol. They'll be raising cash again with another dilution and stating they've sold very little again anytime soon, thrown in with some FDA progress to keep the SHs on the hook. Rise has already happened and the shorters will take it down like a disabled wilderbeast over next month. Total casino stock! Other than that great shout and good luck!!
BksyB - It's only money. we'll all be worm food in a few years so just be indomitable and happy! Find a better way next time:-)!
A bit of sober reflection on the state of play.
1. FCA role is to ensure the highest compensation pay-out that they can for creditors and as we know from past behaviour, creditors will vote for the most they can get. 6M in the pot is therefore better than zero and may well get FCA support. I believe that a creditor committee will be enough to approve this on behalf of creditors, rather than the full shooting match as previous? Thoughts on that?
2: 21M + 6M is still a base to grow from, but the lower base and market conditions will make this a much longer term play if indeed the business survives. The 10-11M convertible bonds are issued when there is no basis for a valuation so like the investors, existing shareholders can't really know what the value of the business and the sentiment will be like if they go back to court for amendments. We can start to make an educated guess that around 30M + a growing book of business could bring this back to about 4-5 times existing share price.
3: I think the risk and reward here will probably see the SP drop further maybe to 1.5p but at that point its worth a risk! I may top up again if it falls to that level. Otherwise I'll top draw/take up my options for the long haul or set up my own sub-prime solution on the other side. AKA going around Bootle with a shot-gun:-))
Beastly - argument could be the best in the world but 19/1 is the law with insolvent businesses.
A voice of sense - wind down would require the FCA to drive that process and want it to happen. So far the FCA have allowed a pilot and relending and written off a huge fine. If they have any doubt about being too heavy handed well here is the proof and I feel its far more likely that they will support than not. Where would be the point of that be. The Court will do what the regulator wants. I also doubt this time whether it would need to go through the same months long process. "Other options" could be a sale which would be IMO a bad result worth 3-4p to us.
STD NOW. Showing what little he knows. Under no circumstance do people get their debt written off. Idiot. Filtered like raw sewage.
That's true HH...Either way I think it'll be 2-3 years before this really gets going again. (if) Lending into sub-prime will always be a thing. Surviving will allow the business to figure that out with the FCA over time as to getting the balance right with affordability and to enhance existing products and develop new ones.
I'm a bit surprised no one has really picked up on this. We got a major concession from the FCA and had the fine waived. The FCA did this to support Amigo in its efforts to recapitalise. The same is now happening. Guarantor Loans are too expensive to run all the affordability checks and the Pilot hasn't worked so well for this product. I.e. very high demand with a very low conversion rate. This is owing to the stringent measures that the FCA have set out. The FCA are assessing the model as we know. If I was the Management Team I would do exactly this as part of the negotiation. Demonstrate that the rules are effectively choking sub prime lending when it needs to work. If the FCA are willing to tweak some of the criteria, this would then make the investment community more interested. The concern is that the FCA won't move fast enough here and I don't know how fast they can particularly pivot. Either way, this to me at least, feels like they are working with the FCA still on the pilot so that the balance is right.
You'll only go to a pawnbroker if all else fails! You'd try and get a loan first before giving up the gold teeth surely!
They didn't fine Amigo because no new investor in there right mind is going to take on a 70m fine to pay out and the FCA want the company to survive.
JB won't be allowed within a mile of Amigo by the mgt or by the FCA. Hamish Paton is the man who is at least as culpable and somehow has managed the same at Provident. Drives around in his Bentley and somehow not stripped of his FCA "competent manager" status. What a joke.
But this applies to every facet of life. Bankers get huge bonuses for us to discover that it was based on lies and unethical behaviour. How many companies have you seen on AIM get listed, the raise happens, mgt teams exit and the RI's get shafted. All the time. Basically, money gets extracted from the biggest schmuks and its all against all. Global Politics and the way Finance works has failed IMO. You have a generation of very sceptical people witnessing corruption left right and centre and wonder why people don't save into their pensions!!!!:-))
Correct - We talked about this a year or more ago that Amigo would have to do the "puppy dog close" and be on the floor to avoid punitive action. And here we are, though the SP this low is a more impressive feat of engineering than anything Isambard Brunel came up with!!!Remember that Amigo have started to push the gas a little harder on the pilot and at some point the FCA will come out and endorse the new approach. If investors are nervous, you have a regulator that is supportive of a return and that will provide the confidence and momentum. Build a position and make sure you take up all your rights. Give it 12 months and you'll do OK IMO.
Old vinegar t*ts over at Indebted Camel is putting her advisory fees into the pot as part of the RI apparently. She is going to use the upside to pay more out to the creditors. What a totally amazing she/it!
Haha Forest - I don't think it's Sara - She's too busy selflessly helping bankrupt people from Bootle. She's a real hero of mine how she tirelessly campaigns for the working class, debt riddled vermin out there. And no.. I'm not joking.
Ok I am really.
To be fair, the Cornershop closed cos they/him/her couldn't get an Amigo Loan.
That is pretty funny to be fair! Sara (They/Them/It) at Debt camel so desperate to be relevant, she goes on a crappy board, takes an ironic poke/comment at the situation and starts frothing over her keyboard to make a name haha! I'm not the one to get told to shut the F up by a judge at least. haha!!.. meanwhile don't get your knickers in a twist! I can make a crack if I so choose. You don't have to find it funny. I really don't think I'm going to change the course of history here guys!!
Still all deluded here. I don't care if this does hit 60p-70p, If it does it ll be entirely false anyway. Traders will lose. LTH at the right price will win. This isn't the right price. More funding required. Close to no sales will get reported etc. This was at 40-45 p when the raise was set at 25p so not even mgt give any credence to the share price. next raise will be lower still.
My comments are easy to explain. It's called 'irony' so lighten up folks. I can't think of a more inappropriate joke and a more appropriate place to put it then this board!:-::::::::::::-)
I think Mgt would be better served to close the pilot out post haste. It either flys from a regulatory perspective or it doesn't. At least you'll have a mandate for Investors whereas there is nothing yet for them to base a decision on. Finish the pilot - get green flag from FCA and then there is a business case. Running around market for investors with no clean bill of health won't cut it. Equally, the caution with all that has gone on is natural. This was always a binary bet and remains the way. Successful pilot = FCA thumbs up = investment. I don't have a crystal ball like anyone else so we'll see how it works out.