The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
For me Lionel, ignoring any content, it's strange he kept shouting down the other side of a conversation. Almost as if his purpose wasn't in fact to find anything out.
Oh yes petergar just that some crazy guy started ranting and raving about death spiral financing and every time Mr Kirk attempted a response he was shouted over. It was a spot of Bedlam in both senses of the word.
Lionel, it would never have been possible to give detailed confirmation on a signed contract. We are self evidently in the best position we've ever been in. All that remains is for you to sell all your shares now and rebuy them some time next year just before you're confident we will in fact sign a contract.
Barking - in spite of him saying that commercial progress was expected THIS year, that is, the next 4 months, when he had no need to do so?
Hi Lionel, yes I popped up here after being banned from the forum, to what does your "hmmm" allude? Originally of course I was on the iii discussion platform but didn't really understand the format after the redesign.
1. It seems that you're the only one who has thus far stated that you're disappointed or deflated, yes.
2. With what evidence can you state we're not close to a contract?
3. "Exploring opportunities" is a default term for anything prior to having a contract.
4. We have a great number of these opportunities, some of which are faster than others
5. Once again it was explicitly stated that there would be significant contractual progress expected THIS year. And we now have assured funding for two further years. What, besides a contract which would take the share price to 50p overnight, could be any more positive than this?
I'm buying, and expect the share price to be north of 15p by Christmas and 8p by the time the OO has been taken up and died down. So relieved we've finally found a rock solid and very long term form of funding to get the dozen or so commercial pathways over the line
Lionel: none of us are deflated, quite the opposite, incredibly bullish after that call with the next best thing to certainty that we'll have positive news THIS year as that was what was explicitly stated on the call as a viable expectation.
Personally thankful too that this has absolutely no relationship to death spiral financing that one apparently quite unhinged shorter on the call alluded to.
Solid CC, very pleased.
Lionel, apologies, I missed your comment below
"Number 1 - This is NOT a Hedge Fund - this is an Asset Management company Bergen Asset Management who manage the Bergen Global Opportunity Fund ( this is a closed private equity fund NOT a Hedge Fund) there is a significant difference between the 2."
No, there's no difference between a free asset management company and a hedge fund. They both invest in whatever they like in whatever way they like (subject to their stated themes) for the benefit of their professional-only clients and shareholders.
Lionel, you're right. It's taken longer than anyone would've liked. But we're all familiar with the various false starts. It isn't that most companies would've succeeded by now, it's that most would've failed and been forgotten about. The huge almosts with parties like Maersk and KSA who partied really seriously with QFI are what have kept it above water all this time and our investments with it. We are where we are, and as of right now to me it looks great.
Ello sunshine.
1. Yes it's a precommercial company with the stated aim of totally upending the world's largest energy market. You want an easy buck, write an app.
2. Yes, the directors get salaries for their efforts like everyone else on the planet. Performance pay is me buying shares in QFI and sitting on my fat arse. This isn't that.
1. Yeah of course shorters come on boards like this, the views are massive relative to the trading volumes with a genuine prospect of altering the share price. The way you know that is that Lionel erroneously accused the board of harbouring rampers. If you can have one you can have the other.
2. A "master coup" doesn't have to relate to being involved with a completely unique mode of financing. Remember this is a company with zero revenue who got a hedge fund to write them a cheque for £2M with the promise of another £2M.
Volume is and always has been incredibly low. Most of the buyers here are existing shareholders with new blood only coming on board post contract. Thus, a small fraction of existing holdings being released in an Open Offer is all it takes to quell buying.
Also the fact that the share price is going down so the ramping must be very poor if it exists. What's he worried about?
No, not strange at all. The share price cannot rise with an announced OO at 3.96p. That's a good thing. When it's over the share price will rise once again.
1. Your main point recently was questioning whether QFI was a going concern in spite of the board's assurance that they were delivering a finance deal exactly like the one they did. Will you do the honourable thing now and apologise?
2. It doesn't have to be "paid back".
3. No one is ramping beyond being relieved the company has essentially all the money and thus all the time it needs to follow through on literally two handfuls of deals with multiple parties and industries and regions around the world.
4. We're not seeing the results of ramping nor do we care to. We expect a significant share price rise within 90 days.
5. I'm not on the forum now so I'm all yours. Enjoy.
6.. Will you do the honourable thing and apologise?
Petergar, you've read it correctly. The OO is more of a gift to us though, set low, not urgently needed.
No it isn't known as death spiral financing. That's a different type of financing. Read the RNS. This is a hedge fund handing over £2M in cash in a deal that bears no interest.
Will there be anything else from you today?
Just another note: all the shorters on here who've been going on and on about the fact that this isn't a going concern and about to go bust....we won't see them here today but you shouldn't forget.
Right I'm not going to work. Going to have a few mimosas instead. Feeling just a bit elated
£2M secured. Funding is secured. They'll also do an OO at 3.96p to reward existing long standing shareholders. But the £2M is the news, breathe a sigh of relief.