Member Info for itisagame

I spent the weekend looking in to this and overall i think its potentially a good punt.

very low mcap (was the cheapest company on AIM at the weekend), low / negligible debt, willingness to change direction and strong chance of it becoming a shell.
Yes it currently needs capital very soon but this fuels and encourages the willingness to change direction.

I very briefly went over 856 aim companies over the weekend, picked out the 46 companies that were under a £2m mcap, and this seemed to be the ONLY company that has actively mentioned becoming a shell and has no mentioned partner.

There are only a handful of shell companies in the market at the moment, most are already in discussions, suspended, high mcap or already have their new partner involved.

As a potential shell target this seems to have very little potential issues.

This is the line that made me more inclined take a position, and at this price consider it a possible bonus :

"The Board are also currently giving consideration to hiving out the remaining assets of the Company, including the interests in the co-owned FlexGen sites, into a newly incorporated private company which would be owned by the Company's shareholders on a basis pro rata to their existing shareholding in the Company. "

par value of 0.1p means it will have to raise capital at 0.1p minimum or consolidate, to consolidate needs shareholder approval and the above line made me consider the fact that this could likely be done after said disposal to ensure that ownership of current assets remains the same.

As always its a Red or Black gamble on something that may not happen, but Good luck and fingers crossed.

JOA*

There is another possible way to get the money off SNPC.

Drill the bugger, get oil flowing at good rates and deduct it from their cut until paid in full, AAOGC (now Zen) are operator and able to do this under the PSA.

So spend the cash get the license sorted and get the well going.

(Very long shot, but possible)

I Wanted 3% but it rose, I don’t mind having a stake in a private company and a listed shell that’s worth double current.

Thanks, I took them :)

.4

Almost doubled on a week, can’t complain

“The Financings have attracted the participation of several existing high net-worth private investors, an existing institutional investor, as well as a Director of the Company ”

An Existing II?

A positive : June / July Oil continues to rise from its lows now at $23 Wti and $29 Brent

The Congo deal is the same situation as was planned in December if the original deal went through, just without longer term potential of £3.6-5.1m in extra liabilities going directly to AAOG, It has also delivered the Congo acquisition earlier than possible under the original plan, and on top the general oil market is also favorable to Zens position for acquisitions and with lowering demand for rigs and drilling specialists Zen should be able to negotiate even better deals for the work too.
There is nothing bad that is new or wasn't potentially bad in December.

Zen are waiting for approvals on Congo, Italy, Tunisia, etc.
Then once it has approvals and the other deals are done, with forecastable cash coming in, Zen will be able to use the bond facility and placings to fund Congo.
In the meantime Zen will be clearing up the mess left at Congo and be planning on how to progress matters.

Oh well, can always use the losses against any profit made from selling PPE :)

Thats what i was thinking, Highlander,

they never confirmed what company name was on DS' lapel or name badge at the time of the meetings and what company name was on any signed records.

is that the end of the potential ASKELL claim? I know positive news would have been against the Sarah and Co M.O so if it did get declined im not surprised if it wasn't announced.

Once Sarah and Phil are gone and the company name changes it by all means a different company so wouldn't that be enough to consider it not a problem anyway?

thats the last of the legacy issues then isnt it?

Yup, that was always the case, debts will be renegotiated or worse case assets liquidated with anything worthwhile moved from AAOGC to "Zenith Congo" as Zenith are the largest creditor to AAOGC they will be able to pick and choose first with the £12.5m that AAOGC now owes Zenith over the $2.7m.

it was £200k,hardly worth worrying about.

it was £200k.

And to prove that point- I know it’s now a covid ramp but mtfb just hit £5m Mcap, it was a £200k Mcap not so long ago.

You can never say never in the stock market.
We will just have to wait and see what news gets released.

Around £3m Mcap tops normally for shell speculation unless the board release some really tantalising news to bump the speculation more.

Well this is a bit of a damp squib rns.