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The only thing the directors are consistently good at is destroying share holder value. Just look at the graph. EHG will be on to them no doubt, upset that they're making under 100% on their conversions. They'll be converting at 0.005 before long!
And i'll stop with the negative posting here now, de-ramping my own investment. But if the bod gave a toss, they'd be doing something about it. They don't. The funding model, by design, will ensure vast majority of P.I's will lose money here. They want to build a business at the expense of P.I's who will ultimately see no reward for their investment.
will probably spike the sp to around 0.028 before the subsequent conversion and share dump drives it down as low as 0.012...which should be the bottom. The new range will be 0.012-0.02.
up quickly now here. Should be good to watch next week.
The value of icon was battered down to virtually nothing before this massive dilution funding programme kicked off. Watching the MCAP grow and the share price bounce around the 0.02 -0.03 range whilst EGHOS are gifted zillions of shares at massive discounts is difficult to watch.
The problem here is that ICON are continuing to issue these loan notes at 0.01p. This is contrary to how they explained their funding arrangements at 90% VWAP. This ensures share price suppression and massive quick profits for the 'investor'. Anyone care to explain this?? How is this right? Is it fraudulent? Certainly misleading.
How many months of this to go? How long will the 0.02-0.03 range be sustained before buying volume dries as investor frustration increases.
Anyway lets ramp away as it's now that part of the cycle eh.
Still at 0.01p.
P.I's blantantly getting ripped here.
Total shares in issue at this rate will be approx 22 billion. At todays price that gives a MCAP of £7.2M. If they're going to continue to raise at massive discounts and not even attempt to support the share price in upward trajectory, use that figure for MCAP as a longer term holder.
Great for short term trading if you can manage to sell.
*90% vwap
They're just making it up with the conversion price. The finance deal is bad enough as it is let alone converting at massive discounts. The bod are not financing in the way they said, at 90% discount. Need to explain this.
Nice one. Wish I'd done something similar. After all it's a traders stock for the foreseeable future.
Thanks for your info OilNovice.
I have the same questions tbh. I'm trying to get my head around the detail. Perhaps the bod can explain in a podcast. It would be nice. It's an important aspect of investor sentiment here. And it's difficult to fathom exactly what is going on.
Still confused on the issuance price of these convertible loans. Why 0.009p? I may have missed something but how was that arrived at? Is this the set price for each equity raise going forward or is it at % discount to price over a particular period?
They better not be needing to raise more than £2M either. With all these contacts and momentum they shouldn't bleedin need to. Surely able to attract institutional investor interest now.
at 0.036 is £1M.
Less than £1200 traded here today.
They sold their first tranche. We weren't expecting issue of 2nd so soon...and more importantly to allow for the sp to recover before the process is to be repeated. With evidence of sustained upward sp movement, the funding arrangement could just about work...not the case and P.I's will be turned off. So something has to change.
Yep, all that positive sentiment has been seriously dampened with the realisation of how all this is going to play out.
Short term there is little value. Longer term because relationships have been built and partnerships formed this could well lead to revenue generating business. Exposure is good.
But the RNS was probably timed to offset the ghastly funding RNS.
Yes and it's a share killer. I was watching to see how this first tranche would work out before issuing more equity. They've got a price of 0.0009p per share again. Why still so cheap? That's £100 000 down only another £1 900 000 to go.
Here we go...so it's going to get played like that. 50% drop because of fund offloading after rise on the back of good news. No recovery and next round already upon us.
So soon. Another 555,555,555 for £50K.
I've had a response from Hargreaves Lansdown who confirm that I'll be able to trade with them still once company moves to HKEX. Trading would be by telephone costing 1% commission (min £20, max £50) and also approx £100 charges from HKEX.
So all good, let's get this move done :)