Member Info for Globex

The shares in issue have increased. Anyone who didn't buy additional shares got diluted and now own a smaller % of the company.

Credit to you Mike for spreading word about how toxic these message boards can be when rampers are doing their thing. This board was terrible for it earlier on in the year.

Back then you couldn't even raise some of the more obvious red flags without getting a load of sh*t from certain posters. Some of the rampers across lse should actually be quite ashamed of themselves.

I am glad to see bearhol3r being called out like this. He - and aggressive rampers like him - are really just like con men who will say absolutely anything to try get others who might be easily influenced to buy their stock. The hilarious thing is nothing he says here will actually boost the share price but that won't stop him posting with more and more desperation all day long. Him trying to silence anyone with a different opinion is just as bad, this isn't North Korea.

I reckon bigger holders have been selling down for months now, just working around declaration rules. It's been a basket case for a while but price action this year definitely indicates a front running of bad news. Frankly it wouldn't be the first time there's been alleged insider wrongdoing.

I'm actually amazed this still has a £4m market cap. Crazy high.

Good points Redacted. The debt is key for valuations, market cap on its own for any company is meaningless without factoring that in. Enterprise value a much more telling metric because it takes into account debt/cash. That's how PE and everyone else would assess it. On enterprise value this would still be way north of £1bn even after Ingenuity carve out.

The positive is getting rid of Ingenuity being net positive for RemainCo. Will give much needed clarity in financials for FY25 onwards and likelihood remaining company has to be taken a bit more seriously by market. Or less of a laughing stock at least. It will eliminate all the accounting tricks and sweeping things under Ingenuity carpet. Unfortunately MM discount will remain.

If anything those that called this correctly should be getting a pat on the back rather than being told to go away.

Luckily no poster here is able to demand anyone goes away and there is no requirement to have a stake in anything to comment on anything. That's the beauty of these boards. Enjoy.

The other immediate practical problem is to get their full year accounts signed off they'll need to demonstrate to they're able to continue as a going concern for next 12 months (through until 30/09/25). Auditors won't sign off otherwise. But they've effectively said cash runs out early Q1 2025.

Unlikely to yield any value whatsoever for shareholders.

US investors aren't stupid. It's become a bit of a modern myth that companies struggling in the UK will somehow find success from US capital markets. If anything US is even more cut throat than here, corporate BS will be spotted a mile off.

Even if there was any value to be extracted, shareholders unlikely to benefit. The share price is telling us that. Plus look at the board's track record and how they've disrespected shareholders to this extent already.

It's entered death row now, at that stage where the kindest thing they could do really is put it out of its misery.

Trades say it all. Just before close 250,216 sells for £3,748 - when only 10 months ago that would have been more than £100k.

The board should really win some kind of award for such fast and utter value destruction.

Applied Nutrition's financials are on companies house. Recommend looking at them before making claims about whether it's overpriced/underpriced. Importantly look at the growth level vs THG nutrition. Also factor in that its founder says it will float with no debt. Ultimately only market can decide its value - it may well be its day one float price is too expensive. If that's the case market will do its thing and hammer it down. IPOs often are mispriced so can't really judge anything from that day one price anyway - I'm sure nobody needs reminding of THG floating at what we now know to be the mad price of 500p.

Yes even a placing is an impossibility now. Market cap now about same size as a few months worth of expenditure, no point keeping the charade going any longer. Practically speaking even the the low grade flippers that fund chancers like this will have realised it's a bargepole stock.

The option I've not seen mentioned is Ashley totally opting out of Ingenuity and instead taking his full allocation of RemainCo.

Looking at his MO, as we know he has a long track record of investing in down-on-their luck retailers that are publicly listed, and RemainCo fits that brief. Ingenuity is a much more nebulous proposition and would be a divergence - both in terms of its offering and being an illiquid private company. Consider that every time Frasers reports, it has to give a valuation of investments on its balance sheet. Piece of cake with a plc, less so with a private company.

Agree it's way too high today, but looking at the situation realistically even £2m+ would also be too high.

They've been quite clear cash runs out in "early Q1 2025", which is only 2.5 months away. Even before that happens, they will be at risk of trading insolvently, which as we know means an equity value of zero.

Good points, especially about risk/likelihood Ingenuity is never relisted.

Moulding could not have been clearer how much he despises the public markets. Submitting it to relist would actually contradict the clear signals he's given for the last 4 years now. As much as there well discussed issues surrounding his trustworthiness, I actually fully believe him on this point.

What this calls for now is a positive post by Givemesunshine, gone bit quiet though? 🤔

Probably for the best if you can't hold it in a SIPP anyway, imo you'd be a bit mad to entrust to your retirement to Moulding and co

The amount they've spent is absolutely eye watering. Why are they acting like lottery winners? Imagine keeping a straight face while incinerating £1m per month while overseeing a company with this few employees and revenue as tiny as this.

Looking at last 2 years alone cash they made from fund raises raises serious questions

October 2022 - £9.3 million

August 2023 - £6.1 million

March 2024 - £9.9 million

If you think about it, if they got all that cash then literally set fire to half of it while keeping the rest, they would be doing far far better than the position they're in today.

I've been saying it for a long time but this board, and certain members of it in particular, have acted in such a way that it's way beyond a typical badly managed aim company and actually should be carefully looked at by the relevant authorities.

It's another car crash as expected, this board have been truly found out now. They can't fool the market any more, all their false promises are really coming to ahead. Countdown to endgame is really kicking in now.