Member Info for Helpful

Read the S1

No you misunderstand. See below.

"The Selling Stockholders have represented to the Company that they will consider selling some or all of their respective shares of Common Stock registered pursuant to this registration statement of which the Resale Prospectus forms a part immediately after the pricing of the IPO, as requested by the underwriters for the IPO in order to create an orderly, liquid market for the Common Stock. As a result, the sales of our Common Stock registered in this registration statement may result in two offerings taking place concurrently or sequentially, which could affect the price and liquidity of, and demand for, our Common Stock"

"As requested by the underwriters" "two offerings" "orderly market".

They are locked in but they might be able to sell via the Underwriters to create an orderly market, if requested by the Underwriters. This is not under their control and they can't sell outside that process because they are locked in.

DYOR

Nothing to do with Board from here on in: down to the ICSID and Enyo Law.

Yeah, always good to break a lock in agreement and have the SEC on your tail. They don't mess about.

Give it a rest with your standard boring rant.

Nothing you said is relevant to the news on the ICSID. This is now largely nothing to do with the board; this pretty much all down to Enyo Law and the terms on which they did the funding deal (we don't know the terms).

This is funded through to conclusion and Slovenia know that. If Ascent had no case, Enyo Law wouldn't have taken it and they would not have secured funding for the case.

The next step is that the panel sets a date to meet and draw up the procedure and the timings: it is not open-ended. We should know fairly soon when the first meeting is and that should give us a better view of timings. Again, pretty much nothing to do with the Board.

https://www.londonstockexchange.com/news-article/AST/arbitration-initiation-revised-damages-estimate/15585791

https://www.londonstockexchange.com/news-article/AST/completion-of-damages-claim-funding/15473433

Before you say the Board is obviously lying, they are not, as evidenced by the ICSID website:

Claimant(s):
Enyo Law LLP, London, UK
Respondent(s):
State Attorney’s Office, Republic of Slovenia
Clifford Chance, Frankfurt, Germany

DYOR

https://www.proactiveinvestors.co.uk/companies/news/1008396/today-s-market-view-greatland-gold-red-rock-resources-and-more-1008396.html?viewSource=TwitterUK

read the Lock in section

Says that Tweet has been deleted

Why would they take the stock unless they can sell for a profit?

There is not profit unless they can sell in the market at a price higher than the IPO?

This is one of the directors:

https://www.frankingriselli.com/

He has another one which should list Monday called Trio Petroleum.

This is David Blanchard

https://www.linkedin.com/in/david-blanchard-ab3222a

Look up Peter Elliott

https://uk.linkedin.com/in/peter-elliott-2112341

Peter got EOC into the hottest O&G jurisdiction in the world; Namibia.

DYOR

non-sequitor

Bucket shops? It will be retail in the US not here. Where is the upside to taking the IPO and then dumping if there are no investor warrants?

If they take the IPO and then sell in the market for a 20% turn I would be very happy. The absence of the investor warrants means that it is less likely that it will trade below the IPO, which is why it is more attractive to the retail market.

This is not like a placing in the UK where the shares are issued at a discount to the market price and then the investors can immediately sell for a turn as long as the price doesn't drop too much. They will be subscribing at the IPO price not at a discount. The only way that they can sell for a turn is if the share price is higher in the post IPO market.

DYOR

The process is that once you have your book you take it to NASDAQ to get their ok. NASDAQ wasn't happy about the book because it was too "concentrated". Ie., they didn't want more than 5% of the raise with any one party. They had to redo the book and in effect ran out of time and were slightly short but not much.

But you know better, obviously.

If you switched your brain on and had a little think you might realise what you are saying, "Companies where Spartan have been bookrunners have extremely poor share price performance after IPO."

And did those companies raise money from institutions where the IPO was "Units" ie., shares plus warrants? Did those institutions dump the shares in the market post IPO and keep the warrants? Penny dropping now?

There are now no investor warrants, it is straight equity: penny dropped?

I know it is counter-intuitive but there we are.. No investor warrants make it more attractive to retail investors. QED.

DYOR

Completely wrong.

Getting them to convert reduces the amount needed to meet one NASDAQ rule: which is year one cash burn plus $4mil post listing.

The main change is no investor warrants. The institution are keen on the warrants and the retail market less so. In the US, the retail market is worried that the institutions will subscribe, dump the shares and hold the warrants. No warrants means that it will be less attractive to institutions and more attractive to retail. That addresses NASDAQ's "issue".

DYOR

President appointed. This now starts to pick up speed.

Recently found against Spain.

https://icsid.worldbank.org/cases/case-database/case-detail?CaseNo=ARB/22/21

https://www.bredinprat.fr/fr/avocat/raed-fathallah/

He should be fairly favourable to AST.

DYOR

New S1 lodged on the SEC Edgar site.

It should be two weeks for SEC to respond and then two weeks to list. As always, these things are subject to left field events etc.

https://www.sec.gov/Archives/edgar/data/1865833/000121390023018656/fs12023a8_elephantoil.htm

Fingers very, very crossed!!

DYOR

https://twitter.com/StockBoxMedia/status/1633075810952265729?s=20

Spec, calm down you will do yourself an injury.

Accounts go stale every three months and have to be refreshed. At 12 months a new audit has to be done.

Each time the accounts go stale, you refresh and resubmit the S1 to the SEC. It is not a Biggie. The raise was very nearly done last time around, small issue with NASDAQ. I expect the S1 will go in again shortly.

DYOR

Seems the rise is because of a fuss about the EU Canada deal know as CETA. It seems "fracking bans" may be incompatible with the treaty and that the Slovenian constitution banning "fracking" may have to be changed.

https://corporateeurope.org/en/climate-and-energy/2013/05/right-say-no-eu-canada-trade-agreement-threatens-fracking-bans

https://www.stopcorporateimpunity.org/press-release-eu-canada-trade-agreement-threatens-fracking-bans/

https://tnc.news/2023/03/06/bonokoski-the-president-of-the-european-commission-comes-to-canada/

DYOR

The accounts went "stale" and have to be reviewed. A revised S1 needs to go in.

DYOR

Yep