Member Info for LOTM-13

Hi 2phevs,

Just about to buy another 518687 at 0.153p which will take me to 13.65M

LOTM

OMG less than 8% of shareholders cast there votes for this EGM.

Directors got new options that they shouldn't have, why did shareholders not vote down those resolutions.

Too busy trying to P&D the shares I guess

LOTM

Hi 2phevs,

Whatever gave you that impression! :)

I like numbers that are made up of just 1's & 3's :)

No doubt I'll be leaving 13,131,313 behind tomorrow! (depending of course on what others do)

LOTM

Hi 2phevs,

Thanks for the update.

I think best to just let things play out quietly, so I don't need to see the article etc

Clearly there is something developing, that lady is pretty senior & has a long history in the industry.

Watch this space as they say ........ & in my case continue munching up the shares in the meantime.

LOTM

Hi 2phevs,

You've got a new MTH post to read!

I hope its an interesting one!

LOTM

Hi buried_treasure,

All I can say is keep up the good work, far too many dodgy BOD's around.

Maybe we'll meet up again on another stock in the future !

LOTM

Hi Troajan,

You obviously are aware of Atlas but going by the initial reaction I got, many here are clearly not ! even with 20 reminders a day.

Which is really scary.

I don't need to be around buried_treasure has far more in depth knowledge of the situation than I'll ever have on TM1 that's for sure & can keep the newbies informed.

I've watch group after group try to P&D ENET at least once a week over the past couple of months just trying to suck innocent investors in or get long termers to average down.

Pretty sad really.

I'll just return to my normal pastures once more

LOTM

Hi buried_treasure,

Yes I sure did get confused with all these going ons !

Thanks

LOTM

THE_CHAIN,

Sorry, your right, I should have written CLG against the loans early in 2024, too many different interconnected entities around just to confuse people even more!

They provided some of the funding ... as per the annual report

"Previously, the Company had drawn £0.6 million under a convertible bond facility with CLG Capital; at the date of this report, the settlement of this amount, by conversion into ordinary shares or in cash, was under negotiation following delays in CLG providing funds due under the agreement"

LOTM

Hi buried_treasure,

You seem to be well on top of the financial side of things.

I hope you or someone similar goes to the AGM & questions the BOD & the Nomad about

"Previously, the Company had drawn £0.6 million under a convertible bond facility with CLG Capital; at the date of this report, the settlement of this amount, by conversion into ordinary shares or in cash, was under negotiation following delays in CLG providing funds due under the agreement"

In particular.

Given how much this looks like the CEO & CLG looking after themselves, I'd also be asking questions around the minority interest in Recyclus.

Given TM1's cash position have they been funding there Recyclus interest quid-pro-quo with the 51% owners of the company & if not what are the implications further down the line, are these simply re-payable loans or are convertible into Recyclus shares ? & if so at what price & what % of the company will TM1 ultimately own currently ?

I'd also want to know the new terms of the Atlas agreement ( all relevant documents should be made available to shareholders ahead of & during the AGM) if they don't produce them when asked then have the meeting adjourned to another date)

Don't think I'd trust this BOD with a barge pole never mind anything else.

LOTM

THE_CHAIN,

I've tried to answer your question about 3 times now & sadly your still not joining the dots correctly, last try.

"to enable future loans"

Gives the whole game away .....

CCL & the CEO are furious they couldn't fund the loans TM1 needed themselves at the start of 2024. Because they couldn't do so they had to find another source - step in Atlas - who got good terms for the funding.

If you read the annual report CCL could even come up with £600K never mind the rest of the money they were meant to find.

Along comes someone (ii) wanting some shares, instead of doing a placing which they could have done, they decided to get rid of a chunk of there shareholding instead, giving them cash in hand (CCL) not TM1.

They CCL will now be able to lend that money to TM1 on very favourable terms to CCL & conversely not on good terms for long term TM1 shareholders!

LOTM

Hi Troajan,

I'm not saying that at all.

Of course the bank will want to ask questions on the business plan, but first of all it will want to know the current state of the businesses finances, how much debt it has & on what terms, who the senior creditors are etc etc.

LOTM

By the looks of it @ THE_CHAIN, @ buried_treasure has looked into this in much more detail than I have or would even attempt to do unless, I was very seriously looking to invest long term & I'm not given the surface financials & dilution etc here.

LOTM

THE_CHAIN,

I've not looked at any mr01 from close brothers, so can't comment if you want to post a link i'll have a look at it later.

People clearly don't seem to get it, that I'm not posting about the company's technology & if its good or bad, I'm looking at the financials & dilution & that's it.

The most important thing is outstanding debts & conversion terms of them & warrants etc.

LOTM

Hi Troajan,

I think you're getting slightly muddled up with me saying earlier on to someone else that you were in general a trader & not a long term investor.

You were then pointing out the merits of the Business as you see them & wanted me to workout the cash flow from them.

I said I wasn't looking at it from a Business stand point, but from a going concern point of view 1st of all.

That means working out what debts are outstanding & there conversion terms & everything else along those lines. As you need to know these 1st of all to know what sort of EPS you might be looking at in the future & how far into the future & the cash needed to get to breakeven etc

You might say well its likely to make £x million next year or in 2 years time, but what is £x going to be divided by, by the time you get to that point in time (in the case is it 1.8B or a much higher number lie 3.5B or even higher)

LOTM

Hi Caspion7,

Normally if your asking a question to a specific poster you put there name in the post so they know who you're questioning!

I'm guessing the question is directed at me.

So no, I'm not a TM1 shareholder, & I've never traded the stock or had a long or short position on TM1.

LOTM

TheMagnacarta,

I give up with you, you simply won't do any research or read what people tell you ..............

Its not $10M there going to get all of £3.1M that's just over 40% of the headline number !

LOTM

Hi Troajan,

I'm not looking at it from the business stand point, I'm looking at it as a viable going concern.

It has lent a lot of cash to Recyclus Group Ltd (48.35% owned) but its also talking about them getting funding from other sources which will likely mean dilution of its Recyclus Group Ltd interest that you need to factor into your numbers.

They are only going to get £3.1M from the Irish sale not a lot out of the headline $10M figure is it ?

And once you've factored in what possibly 3.5 Billion shares in issue, that potential income your talking about gets diluted to hell on a per share basis!

LOTM

TheMagnacarta,

You should be the one looking for that info not me, I have no position in TM1 whatsoever.

And I'm not here to spoon feed people information they should be finding out for themselves to be honest....

but looking at the year end account its meant to be re-payable within a year from now but I can't find any actual date to it etc :(

I've found Atlas has 59,309,374 warrants - I can't determine the issue (conversion) price in the annual report

I also found this ....

Breach of loan covenants

Unpaid coupon interest

The CLG and ACM bonds require the payment of coupon interest on a monthly basis. If coupon interest is not paid on time, penalty interest becomes due at a rate of 2% per month on the outstanding principal balance. Accordingly, the penalty interest has been accrued and is included in other finance costs. See note 11.

Post year end the Company's market capitalisation fell below £5 million which caused a breach of the agreement triggering ACM's option for early redemption and the application of a premium of 20% and additional interest of 20%, plus a discount of 25% to the conversion price. ACM has waived such remedies for a year and a day in respect of each bond issued."

Which would indicate the convertible bonds may have more than a year to go !

Someone needs to go to the AGM & view all these documents in detail & ask the right questions of the directors present - that's for sure.

31/08/2023 £0.020000 73,500,000 385

05/01/2024 £0.018484 8,115,162 57

18/01/2024 £0.014983 2,002,267 11

20/03/2024 £0.014200 21,193,266 139

30/05/2024 £0.005900 20,469,153 60

28/06/2024 £0.004500 17,646,955 30

Total 142,926,803 682

So around 8% of current shares in issue there are warrants available to dilute the share capital further !

LOTM

EGPT,

Clearly not read a single word of what's been written as it doesn't suit there agenda!

They have another £1.68M to convert if they wish!

LOTM