Member Info for kolonik

There's your RNS, I thought it might be him.

Crownos, the rules are that it should be reported by RNS within 3 days, but I have seen multiple instances where it is reported weeks or even months later, or just not at all. The FCA don't do anything about it, they're spineless. According to 4 or 5 websites I've just checked, all of them now say that the total Shares in Issue is 3.187 billion, so I think that the transaction has gone through OK. If it had been cancelled, I think we would have heard by now.

You're not the first one to lose faith 46G, and you probably won't be the last. Premier Miton and Canaccord bought 14% of the company between them during the placing two and a half years ago, they didn't hang around too long. That bloke on twitter, Myles somebody, he fell in love with bioMSAR and bought about 15 million shares, he didn't last long either, he sold out at a 30% loss.

Then there's the staff turnover. We've had 4 general managers, Sam Saimbi, Robin Lloyd, Martin Verle and Mark Whittle, all gone. It was a massive coup to get someone of Bryan Sanderson's stature on the Board, he didn't last much more than a year. George Davidson gone, Matthew Bridgeman gone, Mike Kirk gone (not many tears would have been shed at losing him). It would appear that nobody wants to work with poor wee Jason.

I'm sure that JP will be suffering the same as the rest of us, he's a shareholder too.

Oh wait, hold on, I've just checked, Potter only holds 26,500 shares, so his current TomCo investment is worth £13.25 - enough for a pint and a large doner kebab on the way home.

I think it has to be within 3 working days of the % threshold being crossed.

At least he has finally admitted that he is the reincarnation of haggis, have a look at his post at 14:45 on the AFC board yesterday. After constantly denying it on here for months. It proves once and for all that he's a liar.

Russell Grant, Madame Zelda and Mystic Meg have more credibility than Zac Mir, he's normally the kiss of death.

Call me sceptical, but this looks like a concerted effort to pump the share price up so that they can get another placing away. We know they've got less than 2 months cash left in the kitty. If they don't defer half of their salaries for a couple of months, as I suggested earlier, another fundraise in the next month is inevitable.

That RNS was from 10 months ago though, maybe Steve was confident that TOM would get funding last November, and now he doesn't think they've got a hope in hell's chance.

It looks like you've jinxed it ColdFishPie, sink like a stone more like. Is all this dumping this morning just because of general market conditions, or has someone got wind of another soon to be released disappointing RNS?

Rearrange into a well known phrase.

18 August RNS - A replacement pump of alternative design is being expedited to Morocco for installation later this month. The trial is now expected to be completed in early September.

12 September - A Quadrise team is now on site installing and commissioning the replacement pump. The trial will re-commence at the next available client production window now estimated to be early October 2023.

If TOM only have enough cash until the end of Nov, and funding might not come through until early Jan, Potter and his team should seriously consider deferring 50% of their salaries until the funding deal is sorted. That would probably be enough to get them over the line. The deferred amount could then be paid with maybe 10% interest added when the deal is done. The only other option is a massively dilutive placing, the number of shares in issue increased by at least another 20 - 30%, just to pay their wages for a couple of months.

Them doing so would at least show shareholders they have confidence in getting a deal signed off, but this is TOM, so the chances of it happening are probably slim.

From kdisckon's AGM notes -

Qn: How long can our cash last? Will we need another placing?

JP: It's tight if the funding process goes beyond end of November. Already had discussions with a couple of entities re if funding needed to get us over the line.

In this latest Proactive interview, John has said it will now likely be early January for funding to be complete, if it ever does happen. That's a delay from what was said at the AGM, and that was only a week ago, so another placing will probably now be needed. At what price? 0.045p a share? The 60 million shares which have been dumped today started immediately after that interview was released, that's probably why.

"Imminent news, watch this space."

I suppose Jason was right for once, it's a shame both pieces of news were stinkers.

So if they drill the 4 wells in October, get all the data and results needed, they might be able to back to DOGM in November and ask for the unitisation plans to be approved. Still a chance of the $1m in the bank before the end of the year then.

A distraction AKHM? It was a distraction that would have paid £1.2m into QED's bank account before the end of the year.

A 27% drop in the share price, and not a word from HaggisMcRampFace, or from the company. Speaks volumes.

"Still never mind we still have Panama and Mexico. LOL"

And Madagascar and Ecuador and Japan and KSA and the Caribbean. Even more LOL.

You're not him though HF. It wouldn't surprise me if the first thing Jason knew was wondering what caused the 22% drop in the share price this morning.

He didn't HF, but what do you think the chances are he was? I would say very slim. I don't think he cares enough, and according to him the decision was a formality, so why would he bother.

The decision wasn't made until 2.30am UK time, so Jason won't have known until he got into the office. I don't know if he'll be able to RNS anything until he speaks to Steve, and unless he's up late, he'll be sleeping now too. If an RNS is released, it will probably be late afternoon or after hours.