RE: To all those morons.....25 Mar 2026 11:36
That's wrong - look at the annual reports for the last number of years. The auditors have highlighted the going concern risk every year. Problem is with a mcap below £10m raising funds is exponentially harder than years ago. there's a different (a huge gulf) between the company and existing SHs. You can keep diluting and raising more and more funds to a point - one more raise like this one just gone and the sp will back to where it was pre-dilution, so 1p. That is a 10x destruction in SH value. Yet again your statement below is completely false, misleading and un-researched.
"there has been no mention of any problems as a going concern before the balance sheet strengthening"
See below as you're clearly too thick and lazy to search out yourself. Reading the detail is hilarious - I assume by "rigorous cost control" they meant only paying Graham 700k, not 1m??
"The need for additional financing indicates the existence of a material uncertainty, which may cast significant doubt about the
Group and Company’s ability to continue as a going concern. These condensed interim consolidated financial statements do
not include adjustments that would be required if the Company was unable to continue as a going concern. Mana Energy, the
Operator of the Tendrara Production Concession (Concession) expect to achieve first gas before the end of 2025. During
August 2025, Mana Energy entered into a facility agreement (subject to some conditions precedent), with a local Moroccan
bank to fund Phase 1 of the Concession. The facility is intended to finance capital expenditure, for all the partners, attributable
to the engineering, procurement and construction contract with the mLNG project main contractor, Italfluid, during 2025. The
Company, through its wholly owned subsidiary, Sound Energy Meridja Limited which has a 20% interest in the Concession, is
in discussion with Mana Energy to conclude the terms under which the Company will access up to $5.0 million of the facility to
fund its share of the capital expenditure. The Company continues to exercise rigorous cost control to conserve cash resources,
and the Directors believe that there are several corporate funding options available to the Company, including various debt,
equity and equity-linked funding options. "