Member Info for Fusion98

105k how long will it last?
I'm not an accountant so to me it a bit grey. The financial reports are from June 30th 2020 but the RNS is from Dec 2020.
It does say that with reduced expenditure (producing shares like confetti) they should (theory) have enough for 6 months, that part HIAB got right.
Its in Tangs interest to get NOMAD signed so he can continue to milk the company, however as per the RNS if they don't get funding, its game over and the license is an asset which will be sold by any insolvency company, to whom is anyone's guess but other AIM companies have sold the key assets back to a new company owned by the same Board of Directors. If GCM is delisted Tang could sell the asset then close GCM in the same minute and PI's would be screwed. As for POLO without a green light the mining license is a drain on resources and they could not sustain it.
Dyani is Chinese based, that's all i know but I would guess at them. Polo doesn't have £1.3m to spare every year so it would be in Tangs interest to sell it to Polo who in turn sell it to Dyani, but that's a guess. I would not be surprised to see Tang appear on the BOD of Dyani which is why (in addition to Chinese security) he refused to say who was on the board.
Either way PI's get screwed over. The alternative is dilution with a share price of between 2p and 5p much like Polo was before being delisted some time in 2020/2021

The PM of bang is in power until 2023 and she has said no to additional coal plants, GCM can not last that long.
if Dyani has deep pockets in 2023 with a new election, if they get the green light the coal could be extracted and sold in China allowing money for the bang gov without increasing their CO2 emissions as its burnt in another country.

All this is from the RNS - 22-12-2020

1)As GCM does not yet generate any revenue, the Board expects that the Group's operations will continue to be funded by a combination of equity and debt financing.
2)Continuing for the foreseeable future, the Company's cash expenditure is not expected to increase and, as far as possible, obligations to key stakeholders will be primarily satisfied by the issue of new ordinary shares in the capital of the Company ("Ordinary Shares"), to both incentivise those stakeholders and preserve cash.
3)The Group recorded a loss of £1,515,000 during the year ended 30 June 2020
4)Administrative expenses were up by 37.7% to £916,000 for the year
5)the Company currently has approximately £105,500 in available cash

the section you appear to have skipped over

the Company would urgently need to secure additional capital in order to continue as a going concern, which may not be available on terms acceptable to the Board or on a workable timeframe.
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Section 2 refers to the likes of POLO, Dyani and others, just not PI's
They are paying their staff in shares now, diluting your investment on a daily basis without any minimum term to sell them effectively milking GCM for all they can

So tell me HIAB - which part of the above is a lie?

Answer the Questions HIAB
How much money does it cost a company to list on AIM market per annum?
In the event of no NOMAD , what price do you think GCM will offer you per share once delisted?
Who is on the board of Dyani??

How can you be so sure that a ''New nomad'' will be announced tomorrow? - he doesn't
Have there been any update on progress (Broker) - no there hasn't

Even if nomad is provided (which I seriously doubt) the company is broke and a big dilution is coming, its in the RNS

LA LA LA LA LA LA - i can't hear you - LA LA LA LA LA
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There is no sell off because most long term holders know the facts.

I said quite clearly, "I used to work for a company that supplied parts to Halfords." I know you have trouble reading what's in front you but do try to make a little effort. If you unsure please ask a grown up.
I was in the IT department for a company that had an annual turnover of £25m, you can work out what £25m is, its 2.5x the size of GCM last week and funny enough this company wasn't listed on any stock market either.

Ricky, go read the post from the 18th Dec again, your another one that's got half a story the wrong way round.

Ricky, i'm not bitter, not in the slightest. It just seems idiotic to me that while everyone is in a single room that is on fire despite being told that its on fire by people far better than me, you simply choose to ignore this fact. Result is you get burned.
Stay, sell, its your money i couldn't give a **** anymore, you have two trading days left to sell up.

On Jan 6th i'm sure that HIAB will gladly pay every person 5p per share they still own, as he has such faith in the company to continue to be re-listed.

I'm not on ADVFN or any other board apart from BarcPlus (private board). Its not about being a pessimist its called realism, ie when you realise the rug has been pulled from under your feet, a bit like your about to feel. You see even if NOMAD is found and i doubt it will, funding will dilute you out of existence. You have two trading days left in which to sort your affairs. When GCM is private Tang will no longer have any legal obligation to conduct his affairs with share holders in mind. He will be able to do what he wants, when he wants and with out recompense to you. If that isn't "preferential" then what is?
The company will NOT be re-listed in the future and you can take him to court if you wish but a company based and run from outside the UK is not subjected to UK law. Good luck with that.
Done.... you have been.

the plan is simple, take the company private and never relist. Why would they?

Bought in at 268 inc all costs, looking for 280+ exit
Used to work for a company who supplied Halfords, we used to call Halfords a cash cow as they sold everything we supplied and they paid on time.
Good luck all

Being delisted in 5 days and having no money might have something to do with it.
The person who bought 30,000 units 8 days ago and sold them this morning lost £600 in the process.
just saying

For those of you who are going to continue investing in the stock market next year i give you the following advice, take it leave it, laugh at it, your choice but think before you buy.

Personally i think no deal is a sure thing and exchange rates will swing large amounts making raw materials very expensive. Unemployment will balloon in April 2021 when furlough finishes due to Covid19 and then there is the knock on effect of tariffs to trade with Europe (WTO rules) making British goods more expensive than ever resulting in more unemployment. This will effect GB based companies most (LLoyds being the biggest hit). How long this will last 8 months or so i personally think, after which the economy will pick up again. In the mean time here are some rules to ponder.

1) DO NOT invest in AIM
2) buy a company you understand, if you don't know what they do or how they make money, walk away
3) Look at debt levels of a company, its cheap to own debt now but in 3 years who knows interest rates might be 5%. If they have more than 2.5x of debt to annual earnings (like BT) then walk
4) don't listen to people who tell you "its a sure thing" or "there is so much product in the ground". A product in the ground means jack **** as you can not sell it.
5) Look at the share price over a minimum of 5 years, if the trend is down, walk, if the average price is near, walk, if the average price is say £5 and the current £2.5 look into why, it could just be Covid, its probably not.
6) Diversify your portfolio, some in goods, services, telecoms, oil/gas, banks and international companies spread any down turn in one particular sector or country.
7) Has the share price risen significantly recently (80%+) or is it a new company, walk it will probably crash just as fast.
8) NEVER invest money you have borrowed.
9) NEVER get attached to your investment, its not personal, its a purchase. Some will not sell at a loss even though its never coming back up, me included.
10) BEST FOR LAST - Do you believe with the information you have today that the company has a possibility of going under?

All the best
Fusion98

The next election in Bangladesh is in December 2023

Rubbish, there is nothing stopping them appointing a new NOMAD and releasing a statement saying they will be appointed on Jan 6th 2021.
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Sounds as if they would not be able to advise a replacement Nomad has been appointed until after Jan 6th.

As soon i got out, you drag me back in.
The conspiracy theories are just that. One says the price went up after i sold, the other says it didn't move, which is it then?
I can show you the contract notes if you like, i sold in many batches over a period of time while telling others to sell also.
The only "agenda" i had was to make money without trying to fool others to invest, there is no benefit for anyone to do that. I advised my thoughts as I had gone through the same thing with Xcite energy ($350m), same result, same MOU, same funding issues. Some people just stick their head in the sand and ignore what's in front of them.
Polo had £1m in the bank at the end of 2019, they have many investments that require cap-ex and expenditure all of which ceased, read the RNS and financial statements, they too use money to survive and due to Covid19 income had practically stopped in 2020. Mines need water pumping 24/7 , salaries need paying, etc.
As for hibiscus stake, its an asset for POLO, do you expect them to sell it to prop up GCM? If so how long do you think this would take to turn in to cash and why would they when they need the money for themselves?
Polo lost £6m in 2019, £5m in 2018, they have no free and available cash with which to loan GCM, read the financial RNS if you don't believe me.
GCM looses about £1.3m per year, this is clearly more than POLO had in reserves, hence POLO has no money to lend.
Polo and GCM are owned by Tang, if GCM has no money for a going concern, what do you think will happen to the license? Polo is front of the line if (and i mean if) GCM is liquidated. Far easier to sell/loan claw back this to POLO once private.
Dyani will no doubt have a contract with Tang directly, you do not invest millions in a company on a whim and without some form of guarantee, yes it was their time and paid in shares but 30% of zero is still zero. They will be taken care of, PI's won't be. The more important questions you should be asking is "who is Dyani" and "why can't i find any information about them and who the directors are" Bang Gov?, China?, Tang himself?, no one knows.
If GCM does get a NOMAD then funding is an issue, in 2019 no one wanted to back them, POLO funded them (Read the RNS). If they do get external funding then a rights issue is one of the only ways left to raise cash, dilution for existing holders.
Has anyone googled how few companies that are left who provide NOMAD? Two left GCM in 2 years, why do YOU think that was? Does Strand Hanson Limited still offer NOMAD to AIM listed companies, try asking them on 0207 409 3494
I know some people won't like or believe the above, that's their choice but if you can't read a financial statement then you shouldn't be investing at all.

I've spelt it out in large print, do some investigation work and then come to your own conclusion but i would hurry as you only have until Jan 5th 2021 to sell it on the AIM market.

Don't bother whining these are FACTS, I'm d

Sold the last of my holdings today. If and i mean IF, GCM do manage to get a new nomad and sort out financing then I may dabble with GCM in the future but all squabbles with other posters put to one side, I seriously doubt this company will achieve both. I have asked myself numerous times, what is in it for Tang and the rest of the company to keep this company on AIM?
Once private he can do as he pleases. GCM have no money, POLO have no money, China won't bail him out. He could sell the license or even liquidate the company and then get the liquidators to sell it back to his new company for pence (other AIM companies have done this) Not saying it will happen, but its a possibility and funding was a major problem last time.
Good luck to those that hold I genuinely hope this works out for you.

I have HIAB on ignore as he is a 25 year old child spouting rubbish form his bedroom. The price is 8p and falling. If this company is in such good shape how come the price is falling? How is Polo expected to bail out GCM again when it had about £1m left in the bank at the end of 2019? If you have shares in a company that you can not sell to anyone other than the company itself who will offer next to nothing (if anything), that's not an investment. When a company hasn't enough money to exist, its not a company its a liability. For those who think that you can cash in if the deal goes through after delisting, your in denial. No cash, No bail out position, No Nomad, which part of these facts is is a con?
I've been busy with my investments in Shell, BP, HSBC, L&G so I've increased enough to cover any losses here from my reduced exposure but it doesn't matter what anyone tells you. you won't listen and you know best so good luck to you.
The biggest problem is that people think companies on AIM act and are obligated to work like those on FTSE, they aren't. The only winner from this company is going to be Tang, in addition to his £303k annual salary. https://www.erieri.com/executive/salary/michael-tang-3zr5

As for preferential statement, if you steal a grand no one cares, you steal a few million they come after you. If you think the large investors didn't get some re-assurances from a company board hemorrhaging cash, your in denial. I've been here since 2007 and seen the price at over £2 to 3p and I've never been more sure of this companies future.
Your money, your choice.

Although paid by the listed companies that they represent, Nomads may deem it appropriate at times to resign from their position and/or report the company it regulates if persistently failing to meet the AIM rules and regulations that they are there to advise upon. This would be to avoid being fined by the London Stock Exchange for failing to properly police the market.

Under such circumstances, where the Nomad had relinquished its responsibilities towards a particular company, the company’s shares are suspended from trading and then delisted if no replacement is found within 30 days.

https://aim-watch.com/project/advisers-brokers-on-aim/

" so if anyone was waiting in the wings to take over BT have they left it too late??? "
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personally i can not see ANY UK government allowing a foreign company to own openreach so it would have to be split from BT before sale. No government would allow the control of all of their telecommunications to be governed by a non-uk company let alone one that could either sell the data or out source it to india or somewhere a few years later.. Also as both companies have direct access to military and political offices i dont know of an alternative either would trust. These services would have to be removed also.
With this in mind i can not see anyone buying BT either now or in the future as long as open reach is joined.
Just my thoughts.
Fusion98

correction, what became Openreach in 2005 was off limits.

Actually the UK is the 5th largest economy of the world and while California creates more GDP than most states put together, if you removed the bloated tech companies out, it would be worth less than Idaho.
Regulation in the UK is there to protect the consumer from companies screwing them over and choosing not to provide the basic amenities like a phone or internet access, you know just like in the United States.
The UK government under Thatcher stipulated that telephones were listed under basic amenities right beside water, gas heating and electricity which is why every household in the UK has access to a landline at least, not so in other countries.
With this legislation she allowed privatisation of BT but stipulated that Openreach was off limits to outsiders for a limited time.