Member Info for Jamesthesecond

I have sent in a few questions.
Why directors being rewarded for failure.
Requested breakdown of hours worked by each director what work they actually did in those hours,
why £ 12 million is necessary when we have already paid for most , processing plant can be leased/hire purchased and another £5 million expenditure can be deferred to be funded from revenues. Effectively, why mortgage an asset at an extortionate rate when all can be done via existing resources.
Why the information of severe cost escalation was withheld.

4 separate questions. Lets see whether this delinquent BOD will publish the questions and answer.

each individual has its own personal views. While HSBC sold, MM bought.

0.6p last year. the small 250k placing

HSBS shares are placing shares some of which have been sold. No big deal. MMs bought them which should inspire confidence.

Yanis- Angs has paid a deposit towards the equipment already and that cost is also coming down. Angs has a few million in the bank . At most Angs needs £6 million (thats pushing it) to get the gas flowing and it already has £3 million in the bank. The shortfall is not £12 million. The other costs can be funded form revenues. So WHY IS the company taking such a loan at extortion rates and other kickbacks?

RNS 23.09.20
The proceeds of the Proposed Debt Funding will be used as to:

o £1.8 million toward pipeline installation and connection to the National Transmission System of which £1.1 million has been spent to date;

o £5.7 million toward processing facilities;

o £1.6 million toward site preparation, planning and contingencies;

o £2.4 million toward a reserve for drilling the planned 2021 sidetrack of an existing well on the Field; and

o £1.5 million toward an abandonment reserve for the Field.
Item 1 paid for already. with the exception of plant/processing all the rest is completely unnecessary. Why cant all the rest be funded from the production/revenues. Considering that we had substantial placings even some of the plant ahs been funded via deposits. Consequently it would be a fair assumption that the BOD are engaged in some sort of a dodgy funding deal and getting the company into unnecessary VERY EXPENSIVE DEBT which is not required. Are they stealing SF? A few million should get the gas flowing and the revenues from that should fund all other items. BOD ARE UP TO NO GOOD. This financing is a red herring and should be investigated by the serious fraud office IMHO. I am beginning to suspect that the BOD are planning to steal the SF project by mortgaging to mates while shareholders have incurred all the expense of development.

The issue of going concern rests upon the £12 million debt financing. Indications from BOD are that the costs may be lower but no clear guidance provided. It would be fair to assume that the debt funding will cause SF value to be crystallised resulting in a very good rise in SP and thus triggering the warrants generating more capital for the company. I still cant understand what the £12 million is being spent upon. Only a year or so ago, according to the BOD, we were able to complete the project with existing resources at that time. We have had further placings and the pipeline is all done practically. Where is the £12 million going on SF? I would like to see a detailed breakdown of the expenditure. Is the £12 million really necessary? I certainly do not trust this BOD. The dodgy BOD , which withheld cost escalation, perhaps can now explain where the money is going in a detailed manner .

Geothermal requires its own funding. its years away and considering the past track record of consistent failures and non delivery , heaps of dilution is a forgone conclusion. For SF alone , we have been diluted by 33% already due to BOD failures and even then we are seeking loans with very juicy rates and equity kickbacks and all. FD should be fired!!!
Concentrate on IMMINENT FINANCE of £12 million and then we can see how the projects kick in. All those promo videos are nothing more than deceit .

Ocelot- without financing its all BS. Gl and BOD have not delivered on SF. They have awarded themselves huge salary increase. One could digest GL rise but what about the others. Lets have an analysis of hours worked per week by each and every director. Lets really find out the hourly rate these incompetent people are earning.

https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of-the-auditor%E2%80%99s-responsibilities-for

Did the auditors audit the severe cost escalation at SF and BOD withholding information from shareholders?
Did the auditors audit the financing paperwork and "imminent" completion?

Big Bear2-Totally agree with you. SHOW US THE MONEY YOU INCOMPTENT DELINQUENT BOD. Stuff your videos and presentations. DELIVER

more importantly the market maker has taken a big lump, as reported yesterday of nearly 3%, may indicate he believes that the financing is a done deal.

yes. let be positive and the next move is doubling the SP on confirmation of financing or draw down.

they do like exposing themselves !!!!

not another recording? Sick and tired of chit chat and all the porn in those videos. DELIVERY DELIVERY DELIVERY! That's what everybody wants and GL gets it but FAILS repeatedly. Show us the money or sack all the fat cats robbing the company and shareholders.

Cant GL say that some disbursement ahs been made under the loan. We are almost half way through March.

YES- The emphasis is on the word "imminent". Come on GL. Bring on the good news.

The chat is mostly green due to filters being applied. Its a like a plague/virus spread by AAAG. So much time and venom,.

Skyfarmer- Could not agree more.

we require the successful completion of the funding ASAP to get the gas to flow . Deferred tax will only come into play when we start making money. Until then its worthless.