Member Info for Hotfinance14

Not unpleasant at all. The fact is they have nothing to do. They are in 'waiting' mode.

The Quadrise Insider looks at what the staff will be doing today :

Management Accountant - He finished posting last weeks transactions by 10am on Monday so will be back on the online chess today

CFO - No reports to complete so will do dome calculations for the next open offer then will join his buddy with the online chess.

R&D staff at Clacton - back on the pedlo around the harbour

Alfie/Linda/Matthew - Back to the online course of 'how to look busy when there is nothing to do'

Andy Morrison - sat on the patio with a whisky and cigar with 'should i stay or should i go' playing in the background

Jason Miles - In the garden in his bare feet kicking a cricket ball as his not had a pay rise in 4 years. His neighbour is still plucking up the courage to put his head over the fence and say 'because your on a massive salary and achieved naff all.

Peter Borup - looking out from the balcony of his apartment overlooking the thames thinking 'why the hell did i say I expected 2 shipping agreements by the end of November'

Barking..There is a nice cafe at beachy head.

The placing price at the next open offer could well be 1p or below.

Only 1 week until the end of Q226 and positive news is unlikely. Looks like Peter's first 9 months as CEO have been unsuccessful.

'On Sparkle, we apparently have a willing customer, and the company is now working to secure feedstock, with agents working on this in the Americas, including Venezuela'

I thought Sparkle only supplied the Panama national grid. What do they mean by willing customer ?

Whithorn..I agree with your calculations and that without Valkor receipts cash will run out at the end of this year calendar year. They are probably working on an open offer right now but will be deluded by the expected take up. I doubt the take up will cover the brokers cost of £250k. We can conclude i their is no significant news in the next few months the company will be in a critical position.

You keep harping on about director loans. The company has no director loans and I doubt they will ever have any.

The SP is now just under 60% lower than what it was when Peter started.

Barking...how can there be a trading update if we have no trade ?

From what i have seen a business update RNS would be the same as the last update apart from Valkor milestones being moved into Q326.

We were told the Vertoro yacht trial was on hold as the company had issues. That was around September last year we were told that,

Fleets reposition for Hormuz reopening ahead of US-Iran deal :

https://splash247.com/fleets-reposition-for-hormuz-reopening-ahead-of-us-iran-deal/

If all goes to plan regarding the Hormuz straight MSC/QED can no longer blame the war.

Interesting article but cashburn should be a major concern.

The SP is currently 53% lower than what it was when our new CEO started.

Basherman..you think the running costs of £320k per month are low when the majority of this is staff costs ?

Vince..yes the KSA saga and Mike Kirk was comical. He was on a proactive interview and the chap asked MK when there would be an update on KSA. MK went into mute mode so the chap asked him again and MK said Q3. There was no update in Q3 and that part of the interview was taken off the recording. No doubt MK requested that.

I think the best one ever was Mike Kirk stating at an AGM there were no plans for an open offer to raise funds. About 3 weeks after the AGM an open offer was announced so they must have been working on this prior to the AGM.

I should add that on 2nd October AM stated the company had never had such a strong pipeline which were not yet at the RNS stage. This implied there were new projects around the corner. It is now mid June 2026 and we have not heard a thing.

46G..I think the last time Peter mentioned a 2nd shipping company was at the interim results IMC where he just said 'we are in discussions with some shipping companies' so it seems far away from any agreement. You have to wonder what was going through his mind in early October when he said he expected to have an agreement by the end of November.

46G..Great email.

Only 2 weeks left of Q226,.