Member Info for itisagame

CA up to 8.3%

More trades coming through but so far
1020 Algo trades vs 857 Normal.
Very high number of Algos.

Did I miss anything of interest on here over the weekend?

What price are the bonds today?

“ Net free cash† of $106.2 million at 30 June 2020 (31 December 2019: $133.6 million).
· Net debt† of $123.8 million at 30 June 2020 (31 December 2019: $96.4 million)”

If the bonds are trading at <40p in the £ and creating the biggest financial fear for the company why don’t they buy back what they can at such a discount,
no point spending the last chunk of their main cash on exploration and wells until they have an actual idea on what they have, When they claim a 90% drop in reserves it’s clear they don’t have a clue.

Then when they have a better understanding of what is in the ground raise cash to drill that, or just save up every penny coming in from oil sales until Depleted.

Ignore the claims and the company is a gold mine whoever ends up in charge.
The important thing to work out is who would be better party to resolve the claims.

JB plan is to pull the money away from the company and tell the FCA / FOS / CMCs to swivel and start something else.

The Current board are just trying to work through it and go day by day and trying to not irritate the FCA / FOS and anyone else apart from shareholders, they seem to have great pleasure in pi**ing every shareholder off.

I asked it at the time but Why didn’t they convert the bonds when this was £1b Mcap?
They Could have sold them in to market and secured a good profit, probably more then the coupons, instead they are now looking at the bonds trading for pennies, unless they aim to take the assets in the long term.

signing off, Have a nice weekend all

Not a good rns, but They have a board of directors that focuses on putting so much negativity into every rns that it always overshoots the downside.
HUR has for a long time been an institutional short sellers paradise, The shorters make too much money trading it, but it’s always bounced in the past might just take a week or two, of course this might be the time it doesn’t, you can only deflate a ball so far before it stops bouncing.

I cashed in and put it in HUR @3p, I consider that opportunity to good to pass.

No large sell off here today. They are still willing to buy up stock from you, still think something is in the works.

Green :)

“ This is like the Desire Petroleum oil to water days lol lol ”

Des played the water in to wine card but I don’t recall des pumping millions of £ of oil out the ground...

Took 1m over a couple of trades, this has become a pattern since Trice left,

rns - Overdone drop, recovers over a few days / weeks to slightly less to where it started (excluding the pump)
Next rns - Overdone drop, recovers to slightly less then where it started.
Repeat.

It might not recover but I’m guessing it will be >4p Before long.

Fingers crossed It’s blue before finish :)

Still Able to get sell quotes.

Situation is more complex then a simple good or bad.

“ and (iv) the ending (at the end of October 2020) of the Covid-19 payment holidays granted to around 47,000 customers”

47k of 199k customers, A quarter of the loan book will be making repayments again, That Bump up the cash inflow dramatically.

As I said before, I’m voting for GC, but that doesn’t stop me voting against roger and Nayan.

If they do that JB has to buy atleast 5% off the open market BEFORE we vote him in, or walk away

and we know he wont walk away that easily.

i wouldn't be surprised if it said something like.....

"after consultation with our legal team we have concluded that Mr Benamor or Richmond Group do not control or formally represent a group of shareholders who control atleast 5% of the issued share capital of Amigo holdings PLC as per the shareholding threshold required under the rules of the companies house act 2006, We also believe that Mr Benamors requests are not in shareholders interest and have formally rejected his request."

and Ali Mortazavi (being in pharma) selling makes sense if they are moving away from the pharma plan.

Gut says im stupid for taking the risk and i know the potential 6 months will be extremely irritating but i have never seen >75% of a company owned by 6 people (26,044,800 of the 34,400,481 total share issue) so it intrigues me.

When i read :
"Since that time the Board has been looking to source an acquisition or acquisitions which would constitute a reverse takeover under the Aim Rules and the directors have identified and had early stage discussions with a number of potential candidates. As part of an update to the market on 7 May 2020, the Board was of the view that, even in the current environment, there were potential acquisition opportunities in the technology and life sciences sectors in particular and had decided to focus efforts initially in these two areas. Since then the Board has also been introduced to companies in other sectors which were believed had some merit. As a result, the Board has now decided not to limit our search to these two specific sectors. "

It makes me that think they have possibly found something better over the original plan.

End of the day Its just a gamble, nothing more.
Might be something, might be nothing.

it was 17p when it relisted and any of the listed parties could have sold some stock at 5-10p plus for months, but they didn't and kept the price too high the whole time, i have a gut feeling they have something planned.