Member Info for Jackastory

I’m curious to know what else you think this company has other than a bit of cash

Meaning the company has about 0.11p of cash per share and the rest of the share price is comprised of hope

Worth re reading the finals and interims and the auditor notes around the UBO loan especially since finals are here again soon

Basic Maths from interims….

Trading at 17 times cash in the bank on hope of same set of circumstances, different outcome is not a bargain by any stretch

But the previous high prices were when the market didn’t know that the talk of imminent PSC’s was actually BS so those prices are obsolete as there is a credibility issue that won’t be resolved until a PSC is in hand

The only winners, absent a PSC, are the warrant exercisers who are slotting the shares for profit to PI’s at anything above 1.2p….

More interesting that 70mn warrants said no thanks even when trading at 50% premium to strike

Decision this week is whether you think the 50mn new shares are going to be held for a possible PSC or flipped upon receipt to take the profit

Except that’s not how the financial report shows it. It’s a loan that UBO is using for activities and so is being spent. Upland recognise it as a loan and an investment but it’s not there to be called back in when needed and indeed the report says it will only be recoverable in the event of a PSC and successful exploitation. Also with only a 45% interest we have influence but no control so that looks like the loan is not recallable at all.

Do you read that differently?

BOV has always bothered me as it has just a tin pot website. It looks like an SPV to keep more ownership of the asset should we ever get it outside of just through Upland shares and I think Upland is funding BOV’s share of costs via the loan to UBO

Again be interested to know if you see different as the transparency there is zilch

Is the croc the elusive PSC in that analogy

On a serious note. Why do Upland only have £1.5mn in the bank and every strategic investor placing they ship the cash as non callable loan to UBO

I thought everyone was saying we were just waiting for March 1st and Petros would be in charge and all would happen then…

What time tomorrow is the great unveiling?

I do. All free as derisked and banked at BS takeover, BS imminent PSC and now BS warrant expiry non news. Fomo keeps me in (in case I’m wrong) but the red flags just keep coming. Want some more red flags to think about?

Leepot- after the BS around the imminent PSC last year and lack of explanation when they got exposed by Petros, I am on high alert for more BS

What BS. Most if not all will be exercised tomorrow. If they’re not it’s a massive red flag when the stock has been pushed 40% through strike by retail. Especially when PMDR’s hold nearly 10mn of them!

You also get screwed if it goes back down and you havent taken any profits. Do you not see anything untoward about the timing of recent news which actually didn’t contain any news and the warrant expiry. It’s a red flag to me as great as it is to see the share go up when they want and need the warrant cash in the bank to continue as a going concern

For those who went through last years BS - Be careful not to get screwed twice. A couple of pretty pictures of a random well head and a pop up stand at an oil fayre does not make a PSC but has served very well in getting these warrants in the money. Just be careful!

Another 100mn warrants to be exercised by tomorrow. Hope this hasn’t just been about getting that cash in bank!

28/02/25 or before. Read the interim financial report

They don’t or the main topic would be the warrants