Member Info for FrankyS1971

I can't help thinking that after 2 months and given all the conversations with the FCA have been happening before then, that the delay is not what we think. Alternative is that this is entirely kept under wraps so that Amigo can organise the fund raise which does always take time. We know that the FCA are looking at the future business plan alongside the existing problems as the last RNS stated. This would make a lot more sense to me at least. At what price they will be setting the fundraise/dilution then becomes a near 3 way conversation with the Brokers involved. THAT would be more plausible as to why this is dragging.

I agree spadger..i think the next big area that will fall foul of the FCA will be buy now/pay later platforms. There s a klondike charge in that sector because of digital. Digital is great as its fast and easy but thats at loggerheads with affordability checks and due diligence to protect customers. Thats why i think the Amigo products will be very interesting to see as one would hope they ll get the balance right. Either way, if anyone knows how to set up a claims mgt company i m like totally in. BNPL will make us rich!!-))

Spadger. Sorry but if you re invested in Amigo snd don t understand basics you shouldn't be. Overdrafts and high cost lenders offer entirely different products. The former is often 1k that people dip in and out of short term as a bridging loan until the salary lands. The latter is often 2-5 years thus the total cost of borrowing is vastly higher. Further the FCA can t be blamed for spelling out rules that were already in place under the 7 principles section of the FCA handbook about CONDUCT. They did not change any rules but have now simply crystallised and spelt out to firms breaching what was already there. And should have been practiced. They should however have been far more proactive and respected shareholders rather than reactively shafting them. Finally. Under the senior managers regime, the mgt team at that time including James Benmore should be culpable and in the dock. The reason so much fraud goes on is that these guys can take the money and run without the law every prosecuting. Its too easy.

Welll despite greening Jimmy i saw that last post and couldnt agree more. Shareholders will have to take losses in a restructure to remedy past mistakes. I think we got that 6 months ago so great to see Jimmy really moving the conversation along haha. How much value remains is the big debate but essentially if there is a business on the other side of this then investors at these prices should be fine in a few months or so. What i would say is that the vast majority of SHs deserve a result they being retail and/or new IIs. Im not sure the same is true of the majority of conusmers. Finally don t be surprised if we get bought up on the cheap by an II. They can pay the upfront costs to settle the issue and build the business up for the long term. We may as the shareholders get a derisory offer and cut out if this is privately owned going forward. This qualifies as a restructure.

G203050 and Investor6. If you actually bothered to read the posts no one has said anything disrespectful about Judge Dicker whatsoever. Scum/Pond Life comments when no one has said anything immoral. I comment on his performance back in the year and nothing more. Pair of morons trying to stir it up IMO. GLA.

No offence but we might be properly represented next time. RD was sadly a shambles on the day.

Again to knock that notion on the head. It is a LEGAL right to have a Scheme of Arrangement. This is the whole point of the construct and it can t be denied. Hence NO to the first proposed scheme but not to A scheme. As you can t actually say no provided creditors agree and were fairly engaged. We fell short there but won t this time.

I put it out there simply to stir a bit of conversation up because I guess this will prove to be the key to us LTHs. We know the FCA are also looking at the future business plan so maybe they are yielding and will in fact consider both the past and the future of Amigo together as opposed to them resolutely saying "sort the past out then we'll talk"...The one word that matters is "restructure". There is clearly going to be some mechanism transferring our equity to complainants and the gamble is how severe it is? I rather suspect it will make Amigo a Long Term Play as the FCA can't allow this to go zooming up like last time whilst settlements haven't started. They would be criticised through the media and beyond. Anyway, Amigo will survive and if there is a business on the other side, then its just down to time.

Is anyone prepared for an 80% dilution? 12p becomes 4p for example.. does anyone else think thats impossible and can t happen? It might be that on relending you only see 10-12p again but 6 months down the line.

I think the company culture says a lot and it always gets driven, often unconsciously, from the top. You have a business here that has been thrown a lifeline by investors for 18 months tops. It won't become self-sustaining in that timeframe so we all know that history will repeat itself and another raise will eventually come. That may not matter if the business starts getting going, however I am of the view that ADHL is a real slow game and will take 3-5 years to really penetrate these global markets effectively. All health authorities need to make it best practice in all jurisdictions for this to fly. The point here is that if I am a sales-guy joining the team, I know there is a limited timeframe to sell something I haven't sold before into the market. I can take the money build a pipeline, make the right noises and then leave after 12 months or so after delivering nothing. There is a whole bunch of sales guys who shuffle around the market playing that game and they deserve a hiring manager like Budd who is cut from the same cloth. Honestly, this doesn't deserve your money. It should be privately owned by VC's who would absolutely hold them to account, not a public company that rinses naieve retail investors who can't hold them to account and can't offer the stability a long term VC business can offer. This is the right vehicle for Genedrive and I believe eventually a VC will come along, buy them up as an absolute bargain. They will make all the money a few years down the line whilst the retail investors that helped get them there will enjoy a derisory amount back. Thats why they get rich and we get poor and a guy like Budd doesn't actually care cos he gets paid handsomely regardless.

If it was straightforward we wouldn t be one year into an SOA as a solution or 6 weeks into the FCA pushing back on the proposal. The key points. 1. The judge did not see a short or even mid term chance of insolvency. 2. It was a no to that scheme not A scheme!l and its our lawful right to get one. Its very clear the FCA want the shareholders to get carved up and further they don t want the solution to come from future business but for a line to be drawn on the past before they allow us to return to lending. Its a huge stand-off. There is no doubt that politically the FCA have to make this very tough and i m pretty sure that our 11p shares will probably be worth 3-4p after some form of sizeable carve up. Once relending comes you ll still see 15-20p and a rerate..then a slow ride up. The trajectory of this share will be much shallower than some LTHs think and i doubt we ll see 30p + for another 12 months. Thats stillna great investment. HOWEVER the risk of insolvency is very real and the odds in my head are the same as they were...about 70/30 in our favour...i might lose everything or i might be pleasantly surprised and find out that the SOA2 is a lot more palatable but the picture painted above is what i feel the likeliest narrative. GLA.

Put this into context. 6m from iis. Its just a spec of ****. The mcap is notbing and the investment is peanuts. This is a minnow of a business selling into a tiny niche market attracting beer money. Whatsmore there is no money for future R@D as they didn t raise the extra. Overalll this is on borrowed time and unlikely to ever suddenly become a major concern. Over hyped and many many better bets elsewhere with quite frankly more interesting profiles.

Rubbish. If you read the matetial available the initial uk sales will be circa 200-300k and thats it. Will take a full year for the saturation of UK market to hit 1-2m of the 5 m available. EU from trial to decent sales...2 yr journey IMO. This is a LTH.

Got spiked at 78p and will average down but....not yet...no sir....not yet!!!

The duration for which immunity lasts after infection or after vaccination is not yet known so rapid and reliable detection of immunity after an individual gets COVID-19 or receives the vaccination will be crucial going forward. Only around 10 POC tests have EUA approval. There is still time to join the party here. I'd also add more generally that Budd has taken a good shoeing from the board which is justified to a level. SHs should be demanding and CEOs should communicate adequately, However going forward if our products are any any good they should sell themselves in time!!! LT hold. Give it 3-5 years you could see mutliples of the SP but they need to become self-sufficient and make progress. Definition of madness will be investing in new product without the old ones selling IMO. Therefore a crucial 12 months ahead!

Irony Magpies. If the SP had kept rallying at the very moment we put SOA2 in to the FCA for review, they would do what they did last time, which is to tell us to F right off. So I'm glad to see it go back down!

I m relieved. There is a proposal in with FCA and sp goes to 20p. What happens next? Duh

As sugggested 12 months ago, the solution is to raise funds both for the comps pot and future lending together. The stand off with the FCA has been because they want an soa that dilutes shareholders before they will talk about relending..this stand off is now probably removed with the submission of future lending plan and soa 2 together, something the FCA must have in principle accepted. The FCA may be conceding this is the only viable way given the SP tanking down removed the equity argument. Lets hope that a 50% dilution and relending comes soon. Thw 2 together will see 25p-30p again quite quickly.

I take the statement as putting some cold water on the good news to ensure the SP doesn t go bounding up. Much smarter way to play this as the FCA agreement on the scheme will fingers crossed happen before the scheme details are ever announced and way b4 court.. therefore the SP can do what its like therafter.

Lol my ass:-0 show me the money.