Member Info for giantsquid

I don't personally believe there will be heavy dilution when the funding arrives. I think the plan will be to keep the number of shares in issue as low as possible and i believe Lord Alli has previously said this himself. I suspect there'll be a lot of tough negotiation going on behind the scenes with financiers to cut the best possible deal for both the company and the shareholders and that may be part of the reason why the funding is taking so long? My guess is that Lord Alli will not want funding at any cost, he'll want funding at fair cost and on attractive terms and most probably won't settle for anything less. Lord Alli has an estimated net worth of �201 million so he has the personal financial firepower to sort the funding himself if he chose to, rather than accept a shoddy deal for the company and the shareholders. The hardman report suggests the number of shares in issue will increase to just 398m. It also suggests the funding will be completed at 25p. If you were to contact Hardman, even if there is some genuine basis behind their figures, Hardman are unlikely to be able to confirm their figures as being concrete. The reason for that is obviously because the funding hasn't been announced yet officially via RNS, so of course Hardman can't confirm anything or announce anything before an RNS is released. If you were to contact Hardman they would probably feel obliged to cover themselves somewhat by giving an answer along the line of "our report contains our opinions only and shouldn't be taken as gospel". Which is kind of what you'd expect them to say and if you or i were in their position you'd say the same thing if some Koovs shareholder phoned up asking for further information, confirmations or reassurances. My own opinion is that their figures will have come about after much analysis and importantly - discussions with the Koovs board. The question is, did Hardman write about the funding being completed at 25p and shares in issue increasing to 398m AFTER discussions with the Koovs board? Seems likely to me as i think they will almost certainly have been in talks with the Koovs board BEFORE the Hardman report was put together. So my guess is the figures in the Hardman report may well have some real basis to them and may well have been based on latest information from the Koovs board. Although clearly, until the funding has been completed and announced officially via RNS, nothing can be stated or taken with any degree of certainty just yet. I've posted this link before, it's unconnected to Koovs but it does explain very well about the benefits of putting the shareholders first when it comes to fundraising : http://aidanearley.org/news/

addicknt, go and have a good cry and blow your nose you'll feel better.

addicknt, i think you need to visit these vendors with a big box of Kleenex in your handbag / manbag. Once you've finished sobbing you can ask them yourself why they would accept unquoted paper and if there's any way at all in which you could possibly talk them out of it? Try pleading with them on your hands and knees?

Maybe it made sense for a major US coal asset to go to a US company that's destined for a main market listing on the New York stock exchange? Who knows, maybe Flagship will acquire Whetstone at some future point? doesn't it say somewhere on the Flagship website something about acquiring assets in Europe? I will admit it's difficult to join the dots but i think the general consensus is they may eventually reveal a much bigger picture when all becomes clear? In the meantime i think by far the best course of action right now is to keep hold of our shares and just wait and see what happens.

Okenia, we know from WRN RNS dated January 9th 2015 that upon completion of the original acquisitions, NAV was expected back then to exceed US $2 billion. We suspect / acknowledge that some of those original deals may no longer be there. However, we have been told that the "key" original acquisitions ARE still there and will now be completed by newco (Whetstone). By "key original" the assumption is that this refers quite probably to the largest and / or most valuable of those original acquisitions that were originally intended for WRN. �50m equates to around 4% of the original $2 billion asset value figure - the key original acquisitions will almost certainly have a combined asset value that's very much bigger than that, quite probably �100's of millions. So again, there is no point posting predictions based on �50m asset value - when upon completion of the key original acquisitions asset value will almost certainly be very much bigger than that. Now i know you were hoping to see low share price predictions, much smaller asset value predictions and predictions based on far higher numbers of shares in issue, however that's not really going to happen Mr Troll when we all know the key original acquisitions are likely to be worth very much more than �50m.

Okenia, the key original acquisitions could have a combined asset value that's way in excess of �50m so i see no point in posting predictions based on �50m. All that we know are these deals are heading for Whet and that they'll be acquired at very attractive prices and on very attractive terms and that shares in issue will be kept as low as possible going forward.

addicknt, it's not a question of what i believe - Aidan has clearly explained the business model. What i believe doesn't come into it.

Okenia, as far as im aware, there is no evidence anywhere that says shares in issue will increase massively, or even at all, upon completion of the initial acquisitions? Addicknt falsely and somewhat misleadingly claimed that shares in issue would be in the "billions and billions" upon completion of the deals - but has utterly failed to provide any evidence to back this claim up despite my asking him to. What about you? Can you provide concrete evidence, links etc, which clearly says that upon completion of the initial acquisitions shares in issue will jump from 57,848,282 shares to many billions of shares?

addicknt, it seems to me you are scoffing at Aidan's March 2nd post? And yet the business model makes perfect sense and there's no reason whatsoever why it wouldn't work. Infact there's every reason why it would prove a huge success - not only for the vendors of the businesses, but also for the shareholders and for the company as a whole. Your problem appears to be one of bitterness and jealousy - and it shows. The vast majority of companies don't care about diluting shareholders nor do they put the shareholders first. Unfortunately when you get a company that DOES put the shareholders first, that can cause sour grapes in some people and i suspect you're one of them. I assume you're an adult? Well it's high time you acted like one and let go of your pathetic, juvenile jealousy issues.

addicknt, i referred you to Aidan's post dated March 2nd which clearly explains the business model. The reason you won't read it, or pay attention to it - is because it makes uncomfortable reading for you. Are you claiming Aidan has got it wrong? Are you claiming what he has written is not possible? Because all I'm doing is referring you to what he has written and your response is to scoff at it, so i assume in turn you are also scoffing at Aidan's March 2nd post? I think what addicknt is saying is that he knows better than Aidan when it comes to acquisitions and corporate finance. Which of course he most certainly doesn't. These boards are full of phoney stock market gurus, self made billionaires and deluded, clueless outsiders who somehow think they know better than the company insiders. And addicknt definitely falls into that category.

addicknt, "this is the proof... It's called common sense" lol what an absolute cop out of an answer! Unbelievable. Just face it, you don't have a clue what your talking about nor do you have the faintest idea what's been agreed behind closed doors with the deal partners behind the secured deals. Of course you don't have a clue you're just an uninformed outsider with a very large chip on your shoulder. If you read Aidan's post dated March 2nd on his website, he clearly explains the business model. And what's more, Aidan's words make perfect sense - for the vendors, for the shareholders and for the company. And yes, it does make perfect sense addicknt, even for the vendors of the businesses. And if you can't see it, i suggest you re-read Aidan's last post until you do see it. YOUR problem is that you can't deal with it. And the reason for that is simple. You can see the potential here and it's uncomfortable for you because your own investments in comparison are mediocre and don't offer the same potential. You see a business model here that really puts the shareholders first, one that is focused squarely on richly rewarding them by acquiring acquisitions at very attractive prices and on very attractive terms and on keeping shares in issue as low as possible. Most companies are all too quick to dilute their shareholders to oblivion - and I'd like to bet some of your own investments fall into that category hence the reason why you quite literally can't stand the idea our BoD aims to put the shareholders first and really reward them. You my friend are suffering from the green eyed monster.

addicknt, "sadly it isn't" Can you provide the evidence to back that claim up? Answer = no you can't. You have absolutely no clue what has or hasn't been agreed with the deal partners behind the secured deals. And that's a fact.

addicknt, it's equally possible the initial deals have been secured and that the current 57,848,282 shares in issue is fully diluted.

All of the key original acquisitions are still there and will now be completed by newco (Whetstone) the largest of which is performing much better than expected.. Upon completion of the acquisitions, newco (whetstone) will have substantial net assets, substantial net cash and will be substantially cash generative.. The original (10?) acquisitions, according to the RNS dated January 9th 2015 had a combined asset value that was expected to exceed US $2 billion.. So how much could the combined asset value of the "key original acquisitions" actually be worth?.. If the combined asset value of the key original acquisitions amounted to just 25% to 50% of the original $2 billion asset value figure stated in the RNS, we could be talking in the region of $500m to $1 billion asset value (�354,935,000 to �709,870,000).. If Mcap hit just 0.5 x asset value (undervalued) : �354,935,000 asset value x 0.5 = �177,467,500 Mcap, to �709,870,000 asset value x 0.5 = �354,935,000 Mcap Based on the current shares in issue (57,848,282) : �177,467,500 Mcap = �3.07 per share �354,935,000 Mcap = �6.14 per share We are told these deals have been secured with seven figure sums so presumably they're not going anywhere and are essentially "in the bag".. My own hope is that we get a listing on an easily tradeable exchange BEFORE these blockbuster deals are announced - if that happens i think the share price really could boom - well into the �1 to �6+ range

Nigel, you allege you are an ex shareholder who's interested in buying in.. well you have the chance to buy in right now and yet you obviously haven't done so since here you are still spouting negativity, still arguing with the shareholders, still hanging around like a bad smell, still back slapping and agreeing with Roy, SK and the other adfvn trolls, still attacking the happy, chilled and relaxed simply for their 'crime' of being happy, chilled and relaxed, still intercepting positivity and seeking to put a negative spin on everything disguised in the name of adding "balance".. If anyone else acted like you do on one of your own investments you'd immediately go on the attack and be calling them out as non invested obsessive trolls out to spread negativity and cause trouble. Your posting history is full of such angry confrontations and exchanges with other posters. You claim your obsession with this stock and your aggressive, confrontational behaviour doesn't amount to trolling - all i can say is either you are fully conscious of the fact you are trolling, or you have an extremely distorted and high opinion of yourself, ie, you genuinely can't see yourself and genuinely believe you are this model balanced poster who sets a shining example to others. An example of your troll like qualities is the snide, sarcastic quip in your last post, "he (GS) deserves to be rewarded after waiting some FOUR years for these deals to actually happen!!!!" - you are somebody who has consistently displayed this same nastiness towards shareholders, this same bitterness, this same underlying anger, frustration and annoyance with those who are just happy to wait quietly and mind their own business. And what kind of human being finds other people's happiness a great source of anger and frustration? I think most people would answer that as somebody who is suffering from jealousy and bitterness - somebody who is quite probably sick and in need of help. There are several thousand stocks out there to choose from. If i myself felt anywhere near as negative as you do, had as many questions as you do, had as much disbelief and skepticism as you do.. I wouldn't even entertain the thought of investing full stop. Nor would i waste another second of my life even thinking about it. I'd move on immediately to something i do feel excited and positive about - since there are plenty of alternative investments out there. The only plausible explanation why a highly skeptical, highly negative, obsessive non invested poster would continue to spend a huge amount of their time intercepting positivity and spreading negativity thinly disguised as adding balance.. would be for reasons of jealousy, bitterness and malice. It's really very simple.. If you feel negative and skeptical then move on and invest elsewhere - that's good investment advice. But carry on as you are and you will continue to be called out as a malicious, undercover troll.

Wheelds, what on earth has ASOS got to do with PXS?? Let's compare the figures shall we.. ASOS Number of shares in issue : 83,630,000 Revenue : �1,150,790,000 Profit : �36,850,000 Total assets : �477,900,000 NAV : �237,310,000 PXS Number of shares in issue : 1,885,238,000 Revenue : � negligible Profit : � Loss making Total assets : �360,000 NAV : �250,000 For PXS share price to hit an ASOS style �70 a share : �70 share price x 1,885,238,000 shares = �131,966,660,000 Mcap (�131.967 Billion Mcap) �131,966,660,000 Mcap divide by �250,000 NAV = Mcap = 527,687 x NAV If the Chinese deal works out, you will never in a million years see a share price anywhere near that of ASOS. The number of shares in issue is approaching 2 billion, NAV is miniscule, revenue is negligible, fruitflow has largely flopped in the UK (not a good sign imo).. Comparing PXS to ASOS is about as ludicrous a post as I have ever read on these boards.

Reasons why the current share price might be cheap : We have been told by Aidan that all of the key original acquisitions are still there and will now be completed by newco (Whetstone). We have been told that the largest intended acquisition is performing much better than expected and will be a cornerstone of the new company. We have been told upon completion of the acquisitions, newco (whetstone) will have substantial net assets, substantial net cash and will be substantially cash generative. We have been told that the number of shares in issue will be kept as low as possible and that the acquisitions will be acquired at very attractive prices and on very attractive terms for the benefit of shareholders and the company - which is likely to result in a booming share price and attract a huge influx of new investors, further compounding the share price. Further to this, by "key original acquisitions" one assumes this refers to the original acquisitions that were originally intended for WRN. And whilst it may or may not be true that some of the original acquisitions intended for WRN may no longer be there, by "key original" one assumes the largest and most valuable of those acquisitions are still there and will now be completed by newco (whetstone). Therefore it appears that the original $2 billion asset value figure quoted in the RNS dated January 9th 2015 is still relevant to our situation since deals that made up that figure will have included "the key original acquisitions" which are now lined up and ready to be completed by Whetstone. Therefore the "key original acquisitions" may well have a combined asset value that represents a substantial % of the original $2 billion asset value quoted by WRN - they could therefore have a combined asset value worth many �100's of millions. So for the benefit of Mr 100 posts per month nigel the not so neutral not so balanced who d'ya think your kidding casual observer, are there any risks or downsides to all of this? Put simply - as with ALL INVESTMENTS when investing early stage ahead of news of acquisitions etc, there is ALWAYS a degree of risk and speculate to accumulate. However we've been told enough by Aidan to be able to speculate that the future share price has the potential to boom. Right now investors can choose to believe or disbelieve - to invest or not invest. That's the investor's choice. One thing is certain, those who buy before deals are announced get the lowest entry price and will be poised to make the most money if and when the share price booms. Those who wait for deals to be announced first may find the share price opens much higher, that they end up with a much higher entry price and their gains won't be as spectacular as those who bought in before the deals - but that's the risk/downside of waiting. Like ALL INVESTMENTS there are risks, upsides & downsides to both buying early stage & waiting too long.

Now that the gifted shares have been successfully distributed, maybe the plan now is to wait a short while to allow all those who want to exit early to do so. After that will we see deals announced first whilst still on britdaq? Or will we see Whet listed on a proper exchange first, prior to announcement of the deals? Either way, if the deals have been secured with seven figure sums, the deal partners behind these deals are obviously happy with whatever the plans are for the company - if they weren't happy the deals would not have been secured. My own preference would be to sort a proper listing first on an easily tradeable exchange. The deals can wait as far as I'm concerned - let's get Whet trading on a proper exchange first so that when the deals are announced outside investors are more likely to buy in and the share price is more likely to boom. Im only in favour of announcing deals whilst on britdaq if it's considered a necessary first step to getting a listing on a proper exchange. At least we're moving in the right direction now, slowly but surely, step by step, patience is required and a longer term approach/outlook. Within a couple of years from now hopefully we'll be trading on a proper exchange with multiple deals announced and a steadily rising share price in the �1 to �6+ range (�100m to �350+ million Mcap).

Ashley is obviously confident debenhams will bounce back or he wouldn't have invested millions into it.

Flagship to acquire Whetstone? Or whetstone to acquire Flagship? Either way would be great news for Whetstone shareholders and would surely increase the chances of seeing WRN come back as well? The plan for Flagship is a listing on NYSE main market by the way..