The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Isn't there some cash in the business? They are also selling assets. Surely there has to be a balance otherwise they couldn't run as a plc and get signed off as a going concern? But I'm sure they've got it all planned how they can keep it going to drain every last drop.
Anybody on here still got a stake holding in EVO? We should get organized and vote off the whole BOD at the AGM. From the annual report the key shareholders likely to support the BOD hold less than 40%. So we have 60%? And if we could get IP Group to wake up and do something about the current ******s on the BOD, we'd be quids in? No one seems to have questioned why Townend who is the NED representing IP Group has just sat and watched this go down the pan? Are they really such an incestuous bunch of lackies? So why not move to dismiss the whole BOD and insist the business is closed down now instead of ****ing about with this non-existent IP nonsense and return any cash to shareholders? This new "strategy" (ha, don't make me laugh) is just a smoke screen so the BOD can continue to line their pockets. I bet they'll start drawing remuneration again once the heat dies down and the FD (Bamforth) will keep the accountancy contract (nice little earner). They are the only ones not losing out - unlike the shareholders and staff. It will become a shell cash cow for them. Alternatively is there a philanthropic senior manager out there in blog-land willing to lead a new BOD who can actually do the job, keep it open and resurrect the value? Someone who can build bridges with the staff, bring in marketing and sales expertise and save it from going down the pan entirely. I see Bojar has still got his shareholding so he should be still around to help get it back on its feet.
Still in for a small amount. Sold most at a loss when the **** hit the fan. Im no longer angry about the money. Its now about the unfairness of a good little company going to the wall and everyone losing jobs because a bunch of numpties want to massage their egos and line their pockets. Even now, where is all the loot going if they've closed the site and sacked the staff? And for 3 more months? Can you smell the fish?
I’ll admit a vested interest here, in that I know some of the (ex-)staff at Evocutis quite well. So for the record and while we’re in the process of correcting misconceptions the LabSkin technology was developed by Bojar and Co. They used it in Leeds Skin Ltd. (http://www.linkedin.com/company/leeds-skin-centre-for-applied-research-ltd.?trk=company_name) and called it "Skin Equivalent Technology” before it was bought by Syntopix plc 3 years ago. So I know most of the development time and costs were expended by the Leeds Skin team. They’ve got the publications to prove it (http://www.evocutis.com/labskin/labskin-science/publications/). Ironically the link comes from the Evocutis website! So it’s misleading in the extreme for the Evocutis BOD to suggest they’ve wisely invested our £millions and 10 years time in developing LabSkin and they’ve simply been unlucky in not finding a buyer. The truth is they've tried to ride the coat tails of the technology, done nothing to contribute and got found out. Some might call it justice?
What utter nonsense. I’ve never read such an unmitigated pile of tripe passed off as RNS. It’s just a procession of excuses wrapped up in bunkum to cover their incompetent backsides. Just what IP are they talking about? So everyone is clear, LabSkin is NOT patented. "The board considers that the value within the Group vests in the LabSkin technology”. But doesn’t the real value vest with the know-how of the staff? Oh, I forgot, silly me - we’ve got no staff. So after talking to 100 companies (really?!) and finding no one interested in putting their toe in the water for as little as £0.5m, who on earth will be interested in licensing? The Directors are idiots and seem to think all the shareholders are equally challenged. Doesn’t “reduced loss” actually mean no staff and the business is shutting down? "Considerable effort” equates to total mismanagement of the sale over the last 12 months whilst allowing the business to go down the tubes. Shame on the BOD. You need to grow up and stop assuming all the shareholders are as dumb as you lot.
Are they not OBLIGED BY LAW to communicate with the shareholders? Where's the annual report and the AGM? We all just want to draw a line under this debacle and get some straight answers from these jokers.
Baker. Not sure what you mean by changed to zero?
Just visiting from over at EVO where Gwyn Humphries is our CEO. He's made an absolute pigs ear of EVO, bringing it to its knees within 12 months. Some poor folk have lost their shirts and more, with SP dropping 20-fold in a few months. From this BB it looks like AVCT have some problems too. Obviously not to the extent of EVO but it makes you wonder whether Humphries is a common link? Forewarned is forearmed.
Is this really a dead parrot rather than a dead duck? People are still trying to convince us there's life in it yet! Maybe Michael Palin is an investor? I hear the Lordly Humperdink (CEO my arse) has transferred his investments to Thomas Cook (for the frequent flyers discount). Only joking. But seriously, he's involved in quite a few other businesses. They must be warned!
Last year we had: Final results RNS 3 December 2012 Notice of AGM 10 January 2013 So what's happened this year? Maybe they forgot? Or can't be bothered? Or the cruise ship is late docking? Aren't there rules governing this sort of thing?
Majority of staff left before Christmas. Skeleton staff now working their notices and closing the site. Not what you want to hear but that's the truth. A dead duck run by twits.