I'm done with Prem & GR, huge loss realised17 Jan 2025 09:18
Thankfully I sold what I had remaining at 0.05 a few weeks ago. This company is an absolute catastrophe. My parting was not to do with the business itself, more about how it is run and one of the worst CEO's I have ever come across. For context, my average was over 0.25, I have realised a huge loss here, I have no faith this will turn around anytime soon, especially with that man running the company. It is lies after lies after lies. Put it this way, I do not mind sitting at a loss in some stocks, so long as the fundamentals are positive, competent leaders and there is a good story coming. But here, it took me an unfortunate year to realise my capital is better placed elsewhere and I have begun the long journey to make back my losses. Thankfully I have made some good choices in the last 2 weeks, I have recovered 20% of my loss, if I had sat here longer, I would be down even more with no realistic route to recovery any time soon - just living in hope. Time value of money is real, every year inflation grapples the country, our investment value go down by that portion too.
Take a look at the retail offer, worded as if they are doing us a favour? I think it is criminal to word such things like that. Where is the money being spent? 250k to pay a tax bill, 400k to pay salaries and 180k to pay suppliers. What an absolute joke from a man, just 8 months ago who was screaming and shouting about having a first shipment. The plant has not run since last year, shipment is ages away, requires more and more capital to pay wages, taxes, bills, suppliers AND get this running. All GR is doing is squeezing every penny from genuine investors to compensate for his inadequacies. He should be brought to a tribunal for fraud based on the pathetic dealings he has done. How does the LSE not intervene in this, they are encouraging theft from genuine people.
I wish everyone the best of luck here, whatever your choices are but I would strongly encourage you to really assess when you will get a return back and whether it is worth the strain of your capital. Don't listen to any on this site whether they are a ramper or de-ramper, do your own research and make your own judgement based on your situation. Don't keep topping up for the sake of it, with this stock, it's basically the same as gambling with no return.