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LOL Hodgeyd and Folio.
I though I'd won...see VAR !
SHG was my only share holding until recently after going into safe funds after making a killing a few years ago, although I gave a small amount back with a few loses including GCAT. So i'm not in this game anymore and have tried not to post, but it got the better of me on this BB as it was so easy to reply to the rampers.
You guys continue wasting your life monitoring this BB and trying to make your fortune; I have and spending time on here is a waste of the good life!
Signing out :-)
"Absolutely no one here is trying to deflect from any numbers - I am shouting from the roof tops to look out for this very detail. That is what all the holders here want - to get to the bottom of all the numbers." - then why bother replying to my first post, although the wording I used was ~£5m short of the total I used? But the total figure is correct.
There's no need to discredit me personally when the total number is correct. I know a lot and I mean a lot.
I'm leaving it there, there's clearly a mile between our opinions and I've been is situations a long while ago where I've defended companies when people bring up negatives, to protect my investment, so it's unfair to spoil this BB as this chat is discussion nowhere.
I'm not an investor here; could be one day, but a clearer picture of the financial status of the company is needed.
GL
JC,
I'm not going to answer your follow on questions, which tbh don't need a reply as it's all about GCAT financial status and whether it's a Going Concern.
You first need to state why you did not include the financial status of the company in your list of points about what Shareholders should look out for?
Hopefully it is a Going Concern, as I hate seeing shareholders lose money when they just read BB's and base their investments decision of posters just showing one side of the story.
The figure that the company owes was £15.5m on 31st December 2022, which is the accurate figure as stated in my first post on the Thread and cannot be disputed, even with waffle, discrediting and spamming. We are none the wiser since as to the figure on 31st June, as we're still waiting for the AR.
I'm fully aware what that £15.5m is made up of(please!), which also includes the CLNs and Shares that have been promised, but never issued. Hopefully the Prospectus will take account of these and they can be removed from the liabilities. Although that comes with a double edged sword, as those that have been promised shares may sell them, especially as some have been waiting since the RTO. E.g Mayflower, although tbh they set this company up and have already taken their profit. The additional shares also impacts on the MCAP, which was obvious so really didn't need explaining!!
This is the list of the CLNs(can be converted to shares) and shares owed at at the last AR in November 2022
- 150m shares owed to Mayflower(prospectus)
- Management incentives(prospectus) part of the 142m criteria ahs been met
- 116m for Tanz acquisition(12/08/22 rns) - which is probably why we here nothing about Tanz as it's still not fully theirs yet, if the shares still need to go to the vendors.
- 37.5m for former directors(03/08/22 rns)
- CLN for £2m to Orca(22/03/22)
- Loan note Instrument of £1.2m to Mill End(21/06/22), with interest of 133.333% of the principal to be repaid by 150 days(still not paid)
- CLN for £2m to Koenig(18/07/22)
- CLN with Orca for $1m(16/01/22), with a further $4m that can be drawn down.
So has will the total liabilities have increased since the Interims? By the way people are trying to deflect from this number and attempt badly to discredit me...IMO I'd say yes, by quite a bit, especially as those trying are very close to the company(probably on an NDA which is fine). But we do know that RM pledged all of his shares to Mill End after the Interims, so this will increase the number. So too the other shares that have been pledged but not issued and further CLN's that have been taken out. Although we don't know is these were taken to cover other previous CLNs/loans
We'll all know the detail within the next 6 weeks, if not we'll never know
GLA, including those that have invested on the basis of comments made on this BB and those that have overexposed themselves financially to the BOD and it's promises.
More waffle and still avoiding the point!
The company has massive liabilities of £15.5m, which is bad in a high interest environment, especially on the interest rate they are being charged...fact
JC,
My first post on this thread was crystal clear. You listed a number of points that investors should be looking at when making their decision to buy, hold or sell. But you missed at least one point, which I added about the total amount the company owed, £15.5m
My post didn't even need a reply, but many came(+trying to discredit) and trying to hide all the facts that are relevant. The best investors are those that understand all the positives and negatives.
Condescending post. Not showing yourself in good light.
Balance is required here, not the only positive comments you write, when the company has been failing to deliver from an Operatorial, Corporate and Investor communication basis.
We've heard the same diatribe from the BOD for too long, encouraging naive investors to put there hard earned money in here. Yet, they've never delivered on any of their targets since RTO(3years soon) and the CEO constantly gives false timelines for news. Whilst also having private chats with a select group, including even mentioning the royalty company that's supposed to be the future funder, which is clearly prices sensitive inside information. I could go on and on...
IMO too many people have been "ripped" off here, including myself who believed what was being said and promised. My bad, small hit, but for some its not the same.
Total Liabilities £15.5M and IMO has no doubt increased since the the last results, due to them running on fumes and appears to be no production for 2 quarters.
I've explained my point without you understanding. Pretty basic stuff the "Going concern" issue here
"I have corrected you on both points." lol...absolute rubbish
Investors beware of rampers, that think Liabilities are a good thing and that it's ok for these to be 2.5 x current MCAP, to try and protect their investment without giving Investors the full picture, but instead the rosy one!
So you think investors should ignore the Liabilities the company has? Will they have risen, or fallen. I know what I think.
Liabilities vs MCAP vs Cash / going concern. Surely I don't have to explain, like I did with you on basics of exploration/mining.
Really?
Read the RNS dated 31 March 2023!
https://www.lse.co.uk/rns/GCAT/interim-results-31-december-2022-9af9qzxjmwf2iul.html
"Total Liabilities 15,537"
JC,
You must also include the current Liabilities, which was showing as £15.5m at the Interims.
Also, if the Prospectus comes, the number of extra shares that will be issued for those they've already pledged since RTO, but never issued.