Member Info for Kheldar

That’s the point Magmanus the original contract was for 4 years and £54m and hence why £24m was spent on fitting a factory. The eom wanted out out that’s why the share price originally fell. They then agreed for a fixed £8m contract to July 2023 and nothing else . That is why I’m the rns it states placing maybe needed in July .

That’s me done explaining.

I really hope it works out for you guys.

Atb and good luck

There is no pipeline and there is only one contract which is up to July 2023.

I don’t have any shares nor do I intend to buy any. Good luck to the long term holders:

This is from the rns and hence the reason for massive dilution.
The new agreement (the "New Commercial Order") was entered into for a fixed quantity of flexible printed circuit boards due to be delivered through to July 2023. This New Commercial Order provided for a £3.99 million advanced payment, which was paid in October 2022, with the balance of the contract value (being an additional £3.99 million) satisfied by standard payments on delivery of the products.

Magmanus - that is the only order they have which was renegotiated . They got paid £4m in advance because they run out of money and will be paid £4m.

Do you know which company that order is with? Look up and see why the contract had to be r e negotiated. Other than this contract they have nothing hence such a dilution.

Magmanus - fair enough. Just one question for you - name one contract that is in pipeline? There are none lol - that is why I’m the rns they have have said they will be looking for another placing next year

Atb

Magmanis - how is it a silly idea if you’re not planning on taking up the placing offer?

I don’t hold shares here as I sold a few weeks ago when it started falling.

What I do see with this placement is giving the II and the directors the opportunity to be made whole by dumping these 1p shares on PIs after an uplift.

If there was any other contracts then placement would have been done at a higher price.

I really hope it works out for long term PIs.

The placement is a foregone conclusion as the directors and II have already agreed as they are getting two bites at the 10p cherry.

If you’re not planning on taking up the 1p offer then there is a way for you to get more shares.

1. Sell 80% of your shares now at whatever price above 1p
2. Buy back the shares at 1p in the offer as you can will get 4 shares for every one you have

If you are planning to take up the offer then the above won’t work for you
ATB

From the dividend rns: “based on the higher of £1 million per month or a pay-out ratio of broadly 35-40% of free cashflows.”

The fact that they have put ‘higher of’ means they seem very certain they can pay £1m each month. Seems very bravado when you consider we are producing 2400bopd and the price fluctuation.

Im beginning to think they are producing more than this just not reporting it lol

If they pay the dividends I don’t care haha

@magmanus - I think you’re calculations are wrong. At 23p the market cap was £8.7m as there are only 38 million shares. Once this initial placement to II and new investors is done you’re going to end up with 460m shares - so the 23 p equates to about 1.7p. No point taking the new money as an asset as that will be used as working capital. On top of this there will be another 150m shares which will dilute it further .

Then another solution next year - madness

The only ones left while are the II and they have screwed the PIs - the II will be looking to dump some of their shares onto the PIs on any upward movement

ATB

Spot on Knowles- not sure why people keep saying multi bagger.

The placement will get approved as the existing and new IIs are already on board and with the directors 18% shareholding it’s a foregone conclusion.

@maganus - good luck with your trade mate but I don’t see why you think it will go to 4-5p.

The placing offer rns is clear the money raised is to cover up to next July. They have said they will probably need another placement next year - it’s high risk in my opinion. Those down 90% it’s not worth selling and best to wait it out.

They have only one contract there is no guarantee they will get any other contracts hence the low park placement.

Good luck and ATB

@jtan - my average is 34p. Yes I’ve seen it go up to 55p and then seen it fall. I’ve not sold but neither have I bought anymore.

Iag and boohoo are hamstrung by the same macroeconomic conditions yet you talk boo down and think Iag is a winner. IAG is lumbered with huge debt and soon will have higher interest payments due to hike in interest rate.

Look at the bounce today that’s not PIs buying but more likely shorters reducing. The MMs are helping them as let’s be honest it’s the brokerages that have lent them the shares in the first place. Will know soon once short tracker updates.

If anyone thinks this collusion doesn’t take place then read up on the LIBOR rate scandal. Did any pis get compensated after being screwed by financial institutions- did they hell.

Jtan: manipulative spike up to end the day

Psst- don’t you worry about boo. I think IAG needs your attention. Interest rates going up - going to need a bit more money to pay the interest on the humongous debt

The mcap is currently £566k - what’s stopping an II from buying all the shares now and dispose of the companies assets and recoup their losses

How have they managed to lure in the new investors with that placing if the technology is crap?

I think the technology works but the new investors have picked up a large potion of the company for peanuts with very little risk to them.
The company has a £8m contract already ??- are they seriously saying they couldn’t go and borrow money from a bank against their assets and current / future contracts. The existing shareholders have been shafted - no doubt about it.

Jtan - how’s IAG mate? Can see it heading down more today and tomorrow. Interest rates going up today and tomorrow - borrowing is going to get expensive on all that debt.

T4g - sometimes you are as bad as the Fudsters lol. Looking at buys and sells as a percentage on trades in its own doesn’t make sense.

Every trade is someone selling and someone buying. The real thing that determines is what price they are buying at.

I think we will finish blue today . If not , I’m happy our friends Jtan and Jongle have made some money

Haha haha

Look at these Fudsters triggered just because I said it will go up.

FudSters, don’t worry nothing I said will make a difference to whether it goes up or not - so stop panicking. Cheer up it’s Xmas time - time for Santa rally

Let the shorters spend their load first thing and then this is going up today.

Got a good feeling about today.

Go BOO

Price rises in UK slow in November with the inflation rate down to 10.7% from 11.1%

Still high but moving in right direction

Santa rally is going to happen this year

Someone has to sell in order for someone to buy. Last few weeks we have seen some quite chunky sells and even today close to a million at the end of the day.

In a perverse way this is good as someone is sweeping up these shares. A few attempts have been made to take the price below 4 but it has always bounced back up.

As long as divis get paid then 4p is the bottom. By bringing existing wells back online in Q1 2023 should give us close to 5k bopd and that’s not even taking into account the new well or 802 results. That should give a lift in price so those that want to bail can do do. Personally I’m here for the divis.

ATB