Member Info for leew

Sandgrounded,

You have heard it from the auditors mouth, don’t think GST decided to write the names of 2 other companies in an official RNA making statements about the reasons for MKS moving on without them seeing the release statement and agreeing in advance?

I said it before changing auditors is usually a bad after accounts are not published and was dreading that outcome. The wording is very specific and detailed as to why, so there are 2 options. Believe what is said officially or make up theories.

I choose to go by what they say, because that’s what GST has to do as a business. If things were awful you would get 3-4 lines on an auditor change and no detail, where as this goes out of its way to be precise and detailed, which let’s be honest we are suspended so there is no need to do that.

I suggest if anyone disagrees with what is written go take it up with the regulators, GST, and MKS and present your detailed information that shows the situation is different.

The situation is the same today as yesterday, you can’t buy, and can’t sell.

Tbcx, it’s the word LISTED that is important in the RNA IMO.

Either way reaching the 12th August and coming to that conclusion is poor from the auditors (and possibly BOD) but the wording suggests no issue so you either believe the RNA, or think of different scenarios etc.

Had the wording on the accounts status not been in their I would have been very concerned.

Relisting is not an issue anyway, unless the accounts are so bad they can’t pay the bills, which is obviously not the case from what the already told us in terms of cash balance at $4.2m in March and significant raise 4 weeks ago.

Audavid, my view is the review of existing based on the wording and your suggested timescale is ample for the that activity.

Normally if the auditor changed at this stage I would be assuming issues however that is a very well worded RNA and actually means I am less concerned than yesterday.

You don’t write an RNA like that unless both yourselves and the current auditors are happy with the position and it’s factually correct.

Based on this I don’t think it will actually changes the timescales a huge amount and if all is in good order (GST and current Auditors say it is) then I would guess 3-4 weeks from today will likely start to keep my eye out from end of August onwards.

Ian, It’s been 1.5 weeks and as such I am not remotely worried, the reasons were clear in the RNA, and 1.5 weeks later does not suggest any different view being needed.

As always time will tell and nowt anyone can do it they are in or out so just sit back and wait.

GEX, would have worried me more given the wording on the auditor, but even that shows there is very little to be concerned about and was a swift return to trading.

Yes and the reason for an auditor change is usually something to look out for that can indicate issues but with GST it was not a change due to any reason other than the auditor went through a M&A process themselves, and GST stayed with the newly formed company, so they were obviously happy to keep GST as a client.

. The appointment of Moore Kingston Smith follows the merger of Shipleys LLP, the Company's former auditor, with Moore Kingston Smith

HHR returns, good examples and reading the announcements it’s easy to understand which ones I would be happy to ride out suspension and what I would have run a mile from given the time allowed.

If anyone is worried about GST suspension I suggest reading all these examples and it’s clear, as day is night, when something is worth worrying about.

I use BAKE for coal, I have watched it for a long time given my interest in GST and felt it had bottomed out and I must admit it’s doing a decent job of moving up recently but I cavaet that but saying I only put £225 on it in total to see what it does not to risk a lot of money.

It’s an easily resolved suspension hence people are still here talking about it.

My main disaster is recent years has all gone legal and the BB is like a ghost town because there is zero hope of relisting, if this was a serious suspension I suspect even now all of us would have lost interest and moved on.

Full audits can be quicker than you suggest so I don’t disagree with your view, hence I said I would not be surprised by end of August (1 month)

It will happen when it happens so all we have to do is wait, the info provided already suggests the results will show what we are all waiting for and if they drop extra news in suspension, as others would also like, then it gets better so let’s just wait and relax, it will be worth it I am sure.

AHS, after the arbitration RNA, the response I had was the company still expected to issue results before end of July at the time I asked, which sat with my view the arbitration did not affect results being published, which it does not.

I think I caveated that with “unless something new comes out in a different RNA” which it did.

You were right in your assumptions the results would be delayed, just not for the reasons of arbitration, so well done I was not expecting that last RNA on the auditor issue.

Audavid, I had no response on a time line as I did not directly ask as I know there can be no reply.

My 1-3 months is just my personal view with me being my usual pessimistic self, and probably based around a similar reason to Billy has referenced.

With the wording in the RNA, I would not be shocked to see it by end of August if I was being honest, but if I set my expectations at 1-3 months I probably won’t be disappointed lol.

Like i say I have no correspondence on a date as that is not something anyone would provide out side of what the RNA already said.

Rich, same comment as I made last time. Tell me you know nothing about arbitration without telling me you know nothing lol.

Also the failure to produce accounts is nothing to do with arbitration, when a company even tells you in black and white you choose a non written narrative, but if making up your own view helps you investment strategy who am I to argue lol.

The one think I will agree on is doing the placing, not confirming purchases, and then having the suspension is not ideal and something I don’t personally like.

In terms of replies from Tim I asked about publishing of results just after the arbitration notice as I wanted to check my understanding of results publication after an arbitration situation, which I was correct on and happy with the reply.

After the suspension RNA, my message was more a request / comment, which was received and commented on, again to a level I am happy with.

Lloyd, I can confirm that as I have had 2 replies since the arbitration RNA, which I was happy about

It results show £1 of growth .5p is about as impossible as opening up at 10-20p.

To hit 0.5p the news on opening would need to be catastrophic in nature along the lines of the company confirming they are doomed.

I personally considered 3-4 weeks in suspension as fast, and I guess i would go for somewhere between 1-3 months but I hope for fast as I think that will help with credibility for the reasons on suspension.

AIM, that is 100% my opinion and have communicated similar to the company, not to moan about the suspension but to suggest that further confirmation on BTC purchases, or strategy to purchase is made clear, because the optics of doing a raise, with retail investment, and then suspending 3 weeks later at the last minute is not great.

If they announce progress whilst in suspension and return with strong results it will be great news for commencement of trading.

Encephalopathy, I think from the volumes we were seeing on GS20 from Sept, when they were visible, I expect GS20 to have contributed quite a lot to the results and cash flow.

I have said it before as the fx side of the business progresses this could dwarf the other aspects so I am really keen to understand how this side is progressing.

Robert/AHS,

From my view BAKE has had $1.5m of large quick incomings and outgoings in the last 2 weeks that suggest larger transactions, I am not saying it is GST, but it is larger transactions.

The previous in and out was rapid as the asset value was only up for 1 hour before dropping again and although it’s not that accurate (based on the fact they mine for data) they update data every 1 hour so it was a swift transaction.

Wonder if this is another quick transaction or a longer term asset hold on BAKE.