GM notes29 May 2025 09:42
My notes: NOT ADVICE. DYOR.
- GM was very professional, simple, to the point.
- The 4 Directors, layers, advisor, broker (Peterhouse). 4 PIs.
- Marcus ran a tight meeting. RE engaging and focused on building a long-term business. The 'business' of GM was straightforward, 10-15 mins.
- As most of us knew, the issue of 'serious loss of capital' (SLC) is a non-issue. Companies Act requires Dirs to call a GM when there is an SLC.
- SLC is when net assets is less than 50% of capital. This occurred in DKE days and before any of the current Directors were appointed.
- Current BoD could not ascertain whether previous BoD had held a GM.
- SLC has no bearing on company finances. SLC being addressed through new operating strategy.
- After the GM, plenty of Q&A with RE and Ronjon. Both as open as they could realistically be.
- RE confirmed Company cannot issues shares without a prospectus - hence the need for the Stock Loan Agreement.
- Company has four Dirs (Richard, Ronjon, Sarah, Marcus). Zero employees. Extremely tiny costs.
- Per RNS 14 April, no plans to fundraise. No dilution except when in best interests of shareholders.
- BoD stressed (again!) that they are all remunerated through stock holdings (as we are).
- The projects in the RNS were examples, others are being looked at. We didn't push on specifics.
- Re RNS Appendix note 6: As previously clarified, CPAI is an 'operating' company not a portfolio investment company.
- Was nice to meet a certain Mr Crucifix. Nothing sinister (as had been speculated on here) - just another PI, who just happens to have a lot of shares in DKE/CPAI. Really nice fella.
- Stockbox interview with RE and Ronjon to be recorded - due out in coming days.
- JonnyP and I commented on news flow and potential for the SP to drift down if no news. BoD aware of this issue - asked for patience. Ronjon reminded us that he is very visible.
- Ronjon demo'd an example AI tool he'd been developing which 'may' head to CPAI.
- Focus is on media and medicine AI. Media: the content world is being revolutionised, these will be monetised through revenue. Biotech more likely to be monetised through IP.
- Interims due before end of June. Will include details of warrants to improve transparency.
Ronjon talked about his first 'tiny unicorn'. In the 90s, $500 investment, 3 people built and sold business for $12M. And the 100's of companies that have come through R42.
If R42 offer projects to any investors, CPAI have first refusal. Ronjon would make a recommendation but recuse himself from that CPAI decision.
This is my reading/perspective - others may have viewed it differently. JonnyP may be able to add some more colour. Official line via RNS, Stockbox interviews etc.
SP will fluctuate day-to-day. but (IMO) it's only going up as projects get announced and commercialised.
Not advice. GLA.
Sign In
Follow the stocks
