Member Info for LOTM-13

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LOTM

Sorry my previous post was incorrect,

Cash at the end of 2022 was actually £11.3M, it was £9.8M at the end of June 2023 (which included the £6.3M raised from the share placement in June 23). It is still meant to be £6.1M at the ned of December 2023 although it appears MIRI don't release there annual report until June which is very late indeed & not helpful from an investors point of view hopefully the company will get it completed quicker than that this year.

I went back & found this https://www.edisongroup.com/research/us-momentum-accelerating/30886/

Edison are no longer engaged by the company, but it provides useful information regarding projections for YE 2022 & 2023.

If you look at the actual numbers (Exhibit 2) the number of shares outstanding doesn't change at 279.1M as opposed to the actual number that are currently in issue of 489.31M.

At 1st sight that is a little alarming to say the least, however when you read through the rest of it, the projections for the business to the end of Dec 2023 show it was expected to end up with a closing net debt position of £4.265M & current liabilities of £11.59M.

Whereas the company has in fact ended 2023 with £6.1M in the bank (that's £10.3M better than projected & £4M better off than expected if you factor in the share placing).

Revenue isn't as high as expected, so clearly the cash-burn rate is a lot lower than expected, even with all the activity that was going on in late 2023 signing all these deals & starting work on there implementation.

I guess another cash raise might be required in the coming month's depending on how soon some of the new contracts start to produce meaningful revenue, but it certainly looks like it won't be that long before the business gets closer & closer to breaking even on a monthly basis followed by profitability possibly as early as the end of 2025, I guess the company will give more guidance on that front when it releases the 2023 results.

One of the key points will be there gross margin, will they be able to maintain it at around 85% ?

Scale is everything here

LOTM

Company floated on AIM in Dec 2017.

At that time it was priced at £0.62 per share & had a market value of £63.2M with £25.4M in cash.

As of 31st December 2023 it had £6.1M in cash (down from £9.8M at the end of 2022).

Year End results must be due fairly soon, so they'll likely give an update on how Q1 has been going as well.

Personally I think this has a lot of potential, even although I only came across it this morning thanks to Discodogs post on HE1.

Will be looking to add more for sure.

GLA

LOTM

Most of the trades from trade no 1644 onwards at 16:28:55 were sells, yet the MM's were giving the sellers a better & better price with each trade!

Sellers started out getting 1.5615p then 1.5625p then 1.5635p then 1.5642p then 1.5655p & finally the biggest price for the biggest in size as well 1.5665p

They must still be trying to fill an order in the background or have been caught short of stock.

Bring on tomorrow

GLA

LOTM

Really tight spread now heading in to the last few mins 1.531p - 1.545p

Personally I'd rather be in than out overnight.

Only time will tell if I'm right with that assumption or not.

GLA

LOTM

Hi Dontbegreedy :)

Yes just need more churn to get rid of those that want out.

Those selling from the placing are doing so at a loss, you'd think they'd want to at least get there money back.

Nevermind at least another 1% of the company changed hands today :)

LOTM

MM's look keen to have stock on the books ahead of tomorrow.

GLA

LOTM

We also have increasing volume over the 3 days,

171M traded on Thursday,

179M traded on Friday

220M+ traded today.

So the cash amount traded each day is increasing significantly & a lot of the trades are getting chunkier in terms of size & value.

Activity seems to be picking up again as I write.

LOTM

Given the sharp rally in the share price from early-mid morning Thursday to today with significant increases from virtually the opening bell on Friday & Today followed by a plateau.

What is likely to happen tomorrow if there is again no RNS ?

Is there going to be an even bigger scramble by those currently "in the know" & buying stock to acquire more ? Or will those who haven't been paying attention suddenly realise how much the price has increased & decide to sell ?

Going to be an interesting close & open for sure

GLA

LOTM

Hi joseywales & Walkietalkie

Have either of you looked at MIRI ?

& you saxman303

I've just bought some ....... looks to have a lot of potential, in the very near term. Seems to be right up your street.

Still can't believe SYNT is where it is without news, lets see what the next quarterly update or AGM brings out.

GLA

LOTM

There is clearly a big seller out there who is happy to be dumping these even at 3.80p

Clearly the quicker they get exited the better all round. You really don't want them to be a drag on the share price when the next piece of news comes out. You want there to be virtually no stock over hanging the market, to get the biggest effect on the price. As that's what will draw new investors to the stock (yes & the day traders) but you only need a few new ones to think this is a good long term investment to change the shares dynamics.

LOTM

Hi Invest-thing,

No-one else can find the reason behind the sustained move since early on Thursday morning. Other than someone discovering that they were hiring a rig manager for 6 month's & put out tenders for rig equipment & services that close in just a couple of days.

There is clearly volume behind the move & at times the trading is frantic.

No smoke without fire as they say ..........

Hope that helps

LOTM

What is it with this 10:35 - 10:40am time window & it kicking things off !

LOTM

Spread is so tight at times its hard to tell which are actually buys & which are sells.

However what I can say is that the amount of trading going on says something is a foot.

Near enough 100M traded & 700 trades gone through in 75 mins. There is virtually no let-up at the moment.

Don't know where its headed but we'll find out soon enough .........

GLA

LOTM

Hi saxman303,

No I don't see this as a day trade type thing.

I think its at a low price & on news might give a very healthy profit on the spike.

No issue about an instant cap raise on the back of news etc & it has been as high as 40p in the past year.

Got potential I'd say & been hiring staff etc

LOTM

Equilibrium_TBC

No one on here at least - knows the reason for the rise the past couple of days. Other than the company putting out tenders for drilling equipment for the rig ( which may or may not have sparked some interest)

Clearly there is good volume & someone this morning spent nearly £100K buying 7.225M shares ! - if they'd done it yesterday morning 1st thing I think they would have got nearly 10M shares for the same cash at 1.05p instead of the 1.3285p they paid today.

So some news might be on the way given the sudden turnaround.

LOTM

Cupacoffee,

You might be seeing the quotes as 1.30 - 1.38p but that's not the actual spread if you actually put in dummy trades.

LOTM

The spread is incredibly tight at the moment 1.35p - 1.3595p

Actually just gone over to 1.3611p on the offer as I write.

Clearly at least MM is trying to fill an order of some kind.

LOTM

There were 2 double trades late yesterday & those 2 x 250K trades today that look like bed & breakfast type trades where people are moving stock into an ISA or such like or recording a TAX Loss on one account & moving it into another one, perhaps in a partners name.

LOTM

If you actually took a few minutes to look at all the data you'd easily know with confidence that the 7,225,518 trade at 10:58:30 was a buy.

Here's why .....

Fact 1 - the price changed from 1.25 - 1.30p at 10:39:50 to 1.25 - 1.35p & then to 1.30 - 1.35p at 10:41:49 on very little volume. The offer price of trades that transacted went from 1.286 (lowest) to 1.30p to between 1.32p & 1.332p highest

Fact 2 - the Trade of 6,144,700 shares at 10:43:37 was confidently a sell at 1.302p. The same price as 2 other sells in the 10:33 -10:35 time window. Meaning the large trade didn't move the price whereas normally just a trade would

Fact 3 - the quoted Trade price at 10:58 was 1.25p - 1.35p sales where getting around 1.286p at that time & buys were costing around 1.315p to 1.319p. so 1.3285p was a good health premium to the going rate.

So there is the factual evidence which gives me confidence in saying it was a buy.

If you want a story to go with it, buyer probably put in the order around 10:38am with a price limit on it, MM said we'll get that filled for you, started to move the price up, expecting to get a few sellers around the 1.30p mark which would still give them a healthy profit when along comes someone else willing to sell over 6M in a oner, MM couldn't believe there luck & said thank you very much. Only need another 1M & its filled without any hassle.

LOTM