Member Info for legache

I wonder what the implications of dumping these shares into the free float would be though. More liquidity, yes, but i cannot see that being positive. Or is it?

PVE have 65% of Sron. In the admissions document it indicates that after the 12 month anniversary of listing "After this period, PVE may consider distributing its shares in the Company to PVE's shareholders." Does this mean that we could get diluted by 65%? Or am i reading this wrong?

MGM is spot on ignoring personal e-mails and the like.. In my very thick and humble opinion Your opion is neither thick, nor should it be humble, Bob. The reason why i tend to stick my oar in, with varying degrees of success, is simply based on accountability. If you take one of these leadership roles, then your are the representative of the shareholder, in the agent principal relationship you are the proxy of the shareholders. That means you cannot [or should not] hide. We pay MGM very handsomely for his services and he needs to be able to run a business were he feels he can and should communicate with us. As Sir Richard Greenbury, former CEO of M and S said once "if you can't stand the heat get out of the kitchen". How this process is managed is another question. The only reason I am asking questions is because i want information. It simply is not good enough in terms of data which is emminating from SRON. If the data is poor i want to know and then i'm off. But i want to know to make an educated decision.

Obone, yes your comments re volume are what concerns me. The only this is going to move if with a bit of volume, which as i said before doen't mean me and you throwing in the kids pocket money. The only way we get volume is with institutions and / or funds buying in. In order to do that we need to create the data for their staff to analyse. At the moment there is very little data officially published. Particularly, financially. So doing these milkround events is great, but seemingly no-one is convinced and the SP is at an all time low which bears no resemblance to expected cash flows. I really hope this next trading update has so good news.

Repectfully, thats a load of nonsense. What you are suggesting is insider trading and people go to jail for that. I'm sure there's a lot of guys who are not prepared to go to jail for the potential profits at stake. Do the math. The daily volumes are pitiful. Say 500k share max per day and i'm being generous. Thats 22.5 sterling per day in value traded. The cap is circa 7 million. Its nothing. Zip. Say you can make 30% by timing it perfectly. You've made 30% of 22.5k (say). 7 grand. Say you do it a few times and you off load 3 million shares. Say. You've made max of 60k profit. Not worth getting bummed by someone called Dwayne for the next 15 years. If you ask me.

There is no evidence that TPI couldn't get the IPO away without selling some into the rise after the IPO. I think that's the key accusation. Isn't it?

It's still not clear what the accusation is. If they couldn't get the IPO away, and then had to drop these shares in post IPO, but told everyone that the IPO was oversubscribed, then that is verging on corruption. Is it not? Is that what you are suggesting? I'm not sure.

But that isn't the information mm had been peddling at the launch event. We were all told it was over subscribed. If what you are alledging is true. Then the FSA need to get involved. Have you got credible evidence to show t and p were flogging share on the manner you suggest. I have no formal connection to these lot, but if true, this would be a massive scandel.

Just out of interest, what is your gripe with them, in particular. Except the short term share price has not performed in the way you would have hoped? I cannot see what they have done that's partially wrong. The IPO was done at a price consistent with the value contained in the assets, allowing profit for placees. In time of course. You cannot control the market, not can they. To be fair. I cannot see what they have done in particular to warrant criticism. Is simply unfortunate, that we are were we are. I ma sitting on a massive loss, but i don't feel in any way like I have been mis-sold of what to phone up Ben and have a rant.

I should add, that is Euros not GBP.

Well, this company should have annualized revenues of about 3.4 million, with a margin of IRO 70-80%. So in that context, the cap looks a little on the low side. Just my opinion.

Its the linga-franca of all these companies. I too would like to start seeing more considered langauge, but it wouldn't make for very good reading would it. "the compnay are slightly dissapointed to announce" (!?) Can you imagine it! "Michael is really annoyed with the lack of progresss and will get his finger out in future, stop spending so much time at nice lunches and do more to develop the company" I should write these things. I'd have a bloody field day.

Beaky - All we can do is buy on the fundamentals of this company. Have hope that they will win out. My gripe is that although we can guess at 3.4 million euros in revenue. With a 70% profit margin, we are left fumbling around guessing the G and A and taxation situation. Its simply not good enough. We desperately need that trading update with financial information in it.

comment was not aimed at anyone in particular, just a general comment. No suggestion on my part of any sort of ramping deramping etc. I don't play guess the share price in either direction, it could move up, or down or sideways. My comment was purely based on the volumes below about 5.5p are not there. This would indicate to me this is oversold. It seems to me that holders are happy to wait it out, keep letting the cash pot grow (although a trading update would be nice to indicate if said pot is pocket change or megabucks) and hope that MM has something sexy tucked up his sleeve.

The amount of shares traded so far is less than my entire holding. Says it all. Don't panic.

I wonder what salary is MM drawing and what the terms of his LTIP are (if indeed he has one). How much time is he spending on SRON vis-a-vis his other duties. Undoubtedly, the ramping then subsequent sell advice BMD gave his twitter followers has (in part) caused the current destruction in the share price. I wonder what, if any, relationship the financial fox (or any SRON IR people) have with Daniel Levi. I also wonder, why the company cannot just release a trading update, to help us plebs get a grip on the numbers. Not releasing one is a concern. Its the PR and IR companies on AIM who should be treated with caution. IMO.

I just got my wrists slapped for posting MMs email address, without the right of reply to the Admin team. Admin - I was unaware sharing information like this was prohibited? I see other posts with contact details in for various people, are still live. Is it the @gmail extension (and thus construed as personal) which is outlawed?

obone. No reply as yet regarding a [working] email for Michael. I will post it if and when i get it. I have asked the question.

Ultimately, we have to trust what the company says, and if they say no placing, then that's good enough for me. My take on the huge fall we've had is a lack of clarity over numbers. I fully expect this to rise significantly, should we get a decent trading update. Or in fact, any trading update!

I cannot believe out all the things we could chat about, we keep coming back to the placing issue. What on earth is going on. This is a total side show topic! Couple of points on this. 1. MM only raised 2.5 million a few months ago - why would he need more cash now? 2. If he was going to pursue a placing, why would he repeatedly say he wasn't in communications? 3. We don't need to a placing now unless its to fund an acquisition. 4. Placings can be value accretive. 5. Bezzecca 2 needs data from Bezzecca 1. Therefore best case tiomeline for that is a year from now. By then our revenue will be large enough to self fund most of the development. Ok - the last point is a guess until i see some firm numbers but the average guess from PIs here is an operating profit of about 2.5 - 3 million euros. So feasible we could be close to self financing it by the time we come to. We may need some bridging finance, but its eminently doable.