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Personally I think voting TB out will create huge positive sentiment. It will also send out a clear unequivocal message to all AIM directors who milk their companies at the cost of long term holders, that this practice is unacceptable and will be challenged formally. I can sense that PIs want to get on with the job at hand of creating a business so to say, not have these silly games which confuse clueless holders. So if TB is intent on leaving disgracefully, I am certain we can facilitate it, or at least give it a damn good shot. I reckon it will happen even if he has managed to get a hold of say 20-30% of the share issue support indirectly. There is strength in numbers.

John Richardson has been acting as COO/Exec but not really showing any initiative or indeed exercising his moral compass in signing off these lame game RNSs. Very disappointing overall and change is in the air. The choice is between gracefully moving on, or facing a revolt and risking losing face. Good luck all

Folks: Please stay in touch with Nathan ref support for the warrants being voted down. There are still games being played in the background imo. There was no need for that ridiculous RNS today.

And why is TB still showing on RMS webpage, as Exec director when an RNS spoke about board changes.

Why haven’t any of the websites been updated? it does not befit a company with a 50m plus market cap. P2F and RMS websites look like a kid’s efforts.

I agree with Manifesto-lets rally together and vote on the warrants whilst also considering a meeting to oust the current directors; This will also be a vote for demonstrating the share holders REJECTION towards the board’s games and underhand news reporting.

Nothing would surprise me here, ref news flow to try and sabotage sentiment, PIs be prepared for more games imho. After all the BRH Divi is looking for a home to flip within weeks. Selling up here gives them a cheap entry to try and flip again. I imagine many placees have already flipped, after the share price was dragged into the mud. This is underhand behaviour and will not be tolerated. Raise concerns via every means available. This includes the FCA, LSE reg, SP Angel directors and John Richardson/Trevor Brown themselves.

Find the SP Angel directors on this page. Please raise your concerns about the immoral and down right unfair behaviour of the company and the NOMAD’s role in facilitating this practice.

https://www.spangel.co.uk/people/

It includes raising concerns about director practices, about the nomad conflict of interest etc. I have posted on this before.

Main themes: suspicion of insider trading by directors and associates, lack of independence of the NED Paul Ryan-he sold 41 million shares on the date of the RNS (16th Nov), conflict of interest given NOMAD acted as joint broker and offered warrants which have been flipped, rinse repeat type transactions involving huge dilution to existing share holders. Why wasn’t there a holding period for the BRH shares issued? Or the recently issued 400 m shares? Or the warrants? Shameful dishonest behaviour that needs to be examined, regardless of whether board changes or not.

Market.abuse@fca.org.uk
aimregulation@lseg.com

More the people writing in, more the chances of them taking serious action. Remember doing nothing or inaction will cost us all heavily. It already has. Dozens of investors have panicked during these games and sold out at huge huge losses. Merely resigning to the statement “ oh its AIM” “its the Wild West” etc reeks of learnt helplessness. DO something about it. There is still a window to act.

Underneath this all, there are viable scientific products, teams working to get it to a point where millions could be helped. Good luck all

Electra197: since you speak of accounts ;) Page 43 of FY19

The group has tax losses available to be carried forward and used against trading profits arising in future periods of £8,728,978

Hello folks :) just looking in. What a ridiculous RNS! Pointless and intent being clear as day. This board is spineless and requires every action available to dispose of. Comek: well summed up! They are treating us like we are utter fools. Disgraceful. Let the mechanics of the dirty games here be a red flag, a reminder to all investors of how TB operates “business”. Instead of a dignified exit, he prefers further indignation. Buy, hold and defeat that warrant vote overwhelmingly. Let it be a proxy vote for PIs aspiring for CHANGE.

“For what profits a man if he gains the whole world but loses his own soul”

Questions for those with deeper knowledge of the space and of ARB: I read that ARB holds some 6% of global Zcash mining capacity. Why was this particular crypto chosen as a diversification hedge by ARB? My guess is that ARB see it as of great strategic importance given its emphasis on privacy.

Zcash has been around 4 years and underwent its first halving (25% to 12.5% inflation rate) in November 2020. Can we expect some sort of recovery in its price as we head into 2021 based on the four year cycle of halving? Do we think that $100,000 “seed investment” into Luxor will prove significant in the future?

The more I read up on this company, the more I like it. Well done to all long term holders, I m new to the party and hoping to hold patiently next few months. Good luck all

https://www.nature.com/articles/s41467-020-17922-x

Evening folks :) I haven’t managed to read through the hundreds of posts, so apologies of this has been posted before. The evidence around use of masks, how they should be distributed, what effect it will have on virus transmission, morbidity is only just being studied globally. The article above for ex was written by Taiwanese researchers. Taiwan responded decisively to the “mask supply demand challenge” early. They ramped up manufacture, stopped export and made sure every citizen had adequate equitable supply.

I think our masks could end up distributed selectively to certain groups as the paper above describes-thereby targeting reduction in morbidity/spread. Eventually the population could adopt wearing medical grade masks rather than face coverings (if given the choice and being aware of the evidence FOR masks vs coverings, I think most would “afford” a 50p or £1 mask. We spend more on parking without blinking. A mask that is effective for 7 hours (possibly more as that test time was the max the lab could do) means it could be used for a few days, thereby reducing waste.

Another issue with the use of masks is how to discern when they become old or essentially ineffective. People have tried to create masks that may change colour or give some indication of shelf life-I imagine we can trust a chemist to come up with an innovative solution on this.

On the epidemiological side, the distribution of masks would make for interesting data on how say mask A is different from mask B, when both are used within the population. People may remember that Jeremy Burbidge is the majority owner of the two subsidiaries that (purple paper and ticket media) that Fortoaks now owns 51% in. Jeremy is also on the board of Flextronix. And Fortoaks speaks of electromagnetic tagging of labels. What if similar tagging is possible on a mask? It would create more meaningful data on stock/purchase etc. I suppose I m saying that we could get clear evidence of a mask and how it benefits a population/area in the future. I see the current surgical mask as the humble beginning. The mask will evolve just as the virus has. And I see our P2F mask as a leader in that evolution.

Governments everywhere are appalled by the environmental waste and implications from Covid. Covid shut down lots of industry, travel etc and reduced green house emission. Now its giving us billions of used masks, aprons and gloves thrown everywhere. Ironically the melt blown material used in masks is a petrochemical product. (Oil has to play a role in any dirty business ;) Going forwards, a recyclable/compostable mask will fetch a premium.. And it will be pertinent ONLY if it has no residual virus on it imho.

On the topic of costs/profitability per mask, I reckon a mask would be produced at 15-20P, rest is profit. Regardless of profit per mask, hugely scalable and WILL be licensed. To save lives. It will reach dozens of countries. Humblin

Zedd: Thank you much appreciated. More reading to do :)

Cheers Zedd that’s helpful. The margin here has kept rising (40% Oct, 57% Nov and 60% Dec). Going by what you have stated, it will keep rising given the meteoric rise of bitcoin last few weeks. And secondly the number of coins mined will be fewer as that difficulty rises? (Number of machines staying constant)

The “pool” of miners is not finite, and can expand given the incentive of say 40/50/60k bitcoin price? So to use an analogy within traditional ore mining, if the price goes up, more people get in, and marginal miners/older machines can get into the fray again? (Bit like marginal copper or gold mines becoming viable again?) Or am I talking rubbish

Tothemoon or others with more understanding: I m new here, finding this co interesting; although been in bitcoin for a couple of years. The FCA ban put an end to my accumulation within a SIPP (I was buying £125 monthly in XBT BTC).

A question on mining difficulty-am I correct that it increases as miners pool increases to keep the block reward constant as a function of time? So as Bitcoin keep ascending (assuming it does), the competing pool aiming to earn Bitcoin fractions will keep increasing, and therefore mining difficulty will keep rising too. Does that mean the bitcoin price increase is sort of balanced by increased costs and REDUCED mining numbers for companies like us (all other things being equal ie no investment in more computing capacity).

Second question: The bitcoin number reported each month converts the Zcash into bitcoin equivalent presumably? Does any one see any asymmetric higher upside in Zcash vs bitcoin, or is it just a side show?

Thanks in advance for any sensible replies and good luck all holders

For all we know, this current run up in sentiment is to help the placees and TB/PR warrants to clear at profit. Then a bit more bad news, to allow BRH holders (TB is 24% holder so for all practical purposes BRH=TB imo) to load up cheaply timed to perfection with their dividend payment. Then news ramp again to let them sell out. Then deramp.....you get the picture. Utterly lawless manipulation. Is the FCA even awake? With so many investors here, surely there are a few from a background that helps us build a coherent case against this type of game.

The only thing that invalidates the game is holding patiently. Thats exactly what I intend to do, until the board is refreshed. Good luck all

Aba/Tricky: It is impossible to guess the next move when the board holds the cards and actively trades on those cards. If I knew what news to arrange in which order, and could issue myself millions of options/warrants at the drop of a hat, I could make money every day of the week. No holding period for any shares issued or warrants. NOMAD completely in pocket. It doesn’t sound very shrewd or like good business does it? It’s musical chairs, except you choose when to stop the music and you choose how many chairs to remove. Infant you even choose who plays.. It is cowardice and moral bankruptcy to make money out of ordinary holders misery and to manipulate emotions in the way they have been. Fear often comes out insecurely as aggression-that explains the tone of the RNS threatening police action and legal action.

As regards who exactly is in charge right now, I am unclear. We might be in transition, and the confusion created is perfect for someone of our board’s calibre, to orchestrate further fear/anxiety. Perhaps another failed mask test? (Ignoring the other 3 that might have passed). Or the fact the truck is stuck somewhere, and we have no idea when it will arrive. Or the engineer needed to assemble it here has stated that he cannot visit until mid February when he is due to be vaccinated or due to lock down. Any number of creative scenarios; a blank canvas for a fertile imagination.

We are on the verge of revenue and don’t need that warrant dilution. We didn’t need the huge raise at 1.25p. At 2.5p, we could have had just 200m shares for the same £5m.

The LEMU post on instagram (1st machine) suggests that there are further machine orders potentially in the pipe line. Plenty happening behind the scenes and unfortunately board seems unable to keep it under wraps. IMHO only. DYOR

To be perfectly clear (before the Swiss police knock on my door), TB didn’t say the market demands discounted raises or dilution. He said the warrants are expected by the market. It is very interesting that TB has time and again hinted at the share price being over heated or crossing what are his expectations. The same man is willing to dilute holders by infinity, to a share price of say 2p.

2p warrants for 2400m shares is a market cap of 48m. To cash those warrants you probably need say 3p share price, which TB clearly thinks is achievable here. 3p for 2400m shares is 72m mcap. IF we had stayed at 1600m shares, that 72m mcap fetches 4.5p. So we are ignorant and easily manipulated but kinda understand what is being engineered here.

EXPECT more games if TB is still at the helm. For ex the RNS may say, oh the machine is on its way, but we have no idea if it will be stopped due to delays. Also given the Covid closures, we might struggle to have it installed etc. More rubbish to delay the sentiment change. Why? To time it to the BRH dividend on 06th January imho. It beggars belief the abuse of power that has occurred here. As I have said before, the NOMAD, Broker and board who played us can expect karmic justice

Hammy374: To be clear, they have raised 5m via 400m shares at 1.25p. They already had 700k. The 77m warrants at 1.4 p that TB and PR generously awarded each other, fetch a further 1m.

We are voting on the warrants at 2p, which would (theoretically) fetch a further 8m. And these warrants would dilute everyone by a further 20%. (400m shares above a staggering 2000m share issue).

Most here feel that the additional 8m is not needed (except TB felt strongly that it was needed). It was needed to line the pockets of those who participated in the raise, that includes friends and family presumably. We were told in one telegram group that the market demands warrants. And allegedly it demands 50% discounted raises. It also demands that the company get diluted by 25-50% every three months. And whatever the market wants it gets. Until us PIs decide it doesn’t ;)

Limpingalong: I think the orders will be confirmed once the machine is up and running, and producing the mask of quality and number we expect to see. It may take a couple of weeks to tweak imho. So regardless of any number of buyers being interested, no one would pay unless they see the machine is here, and secondly the mask is certified. Both are realistically possible within next 2-3 weeks imho only

ACE: I used to believe that and to an extent still do. However, at the murky end of the market, one persons loss is potentially another’s gain. And share price movement relies on rumour, hunch, misinformation etc.

Paul Ryan for example sold a large chunk of his holding to some unsuspecting investors at an average price of 5p; these buyers believed the share price was on a genuine trajectory to higher levels ie they saw further upside. They probably did not realise the positive bluster that board was putting out was somewhat over amplified or the “game” behind it. They actually trusted the words put out in official documents for ex the RMS P2F acquisition circular where they explicitly state

“.....The directors of Braveheart intend to retain the Consideration Shares for the foreseeable future.”. The resolutions to acquire P2F passed on 04th November at the general meeting. BRH sold its entire stake (37.57% direct share stake, PLUS millions of shares in warrants) within TWO weeks of the above transaction!! In other words, the directors either changed their mind on holding the RMS shares, or they misrepresented their intentions in the circular.

Why was there was no “holding period” for such a large share issue to BRH, or no restrictions on selling? NOMAD SP Angel participates in the raise being a joint broker, has a clear conflict of interest (they were awarded a further 10 m warrants for phucking us all over) and needs to be found accountable for this. For ex with the shares issued to the consultant who was awarded 10m shares the same month, they put in a tie in period up to August 2021. Funny isn’t it?

Paul Ryan is described as an independent director, and sits on the remuneration committee for ex. How a major share holder be independent is beyond my little brain to comprehend. He sold over 41 m shares at 5p, on the day the Nov 16th RNS came out. We still haven’t been informed of the ‘terms” with in the Volz contract or indeed if there is any commercial value.

How can a company quote unequivocally that they don’t need funding:

RNS 12th November
Funding Update
The Company has noted speculation regarding a possible fundraising by the Company. The Company has as previously announced both settled its convertible loan note debts and completed the admission, following exercise, of all outstanding warrants save for a remainder of 10,000,000 warrants or 0.64% of its issued share capital following Admission of the Warrant Shares. The Company has thereby raised additional funds in excess of £900,000 via recent warrant exercises. As such the Directors do not foresee any current need to raise further funds.

And then do a 360 degree turn around and try to raise 13 million?!!! Why hasn’t the NOMAD or independent director questioned this level of dilution and deceit?

The sooner we hear of dissociation between this type of character/conduct and RMS, the better the prospects get here. Good luck all

Selecta: I think the RNSs over last few weeks have been “gamed” to create negative sentiment and erode investor confidence. Main intention was to drag share price into mud and then issue confetti. Alongside this, there have been genuine minor delays (few weeks), which have been fully exploited by board and a concerted following of troops to try and spread fear and anxiety (seen in various social media). We have been given very little scientific detail (on why mask testing failed for ex, or what a remedy might look like) for what is essentially an innovative nano tech product. This has (understandably imho) resulted in some investors getting somewhat paranoid/jittery about any new posters and about intention. Indeed if one hasn’t researched the companies (GyroMetric or other aspects of P2F), it is entirely understandable to see this as a pure Covid play and to think our future prospects are binary ie hinged on just the masks viability. The mask is innovative, a scalable solution at an affordable cost (below £1 each). We will mass produce it through licensing to others and ourselves. Has TB relinquished control and do we see greater clarity in the RNSs going forwards? We will see. Given the raise was at “mates rates”, and warrants were also generously issued much lower than average sell price of any directors/BRH, I expect news flow to resume regardless of who’s driving the vehicle. A bit of integrity in reporting would help our nerves and faith. For me TB is no longer investable. I wouldn’t touch BRH or IQAI or any other venture associated with him/Paul Ryan, with the proverbial barge pole just based on the unholy nexus with broker/NOMAD and the manner in which PIs get played.

If investors aren’t willing to buy into a story because of a malicious presence, then I can see business threads, academics and other associates too pausing to reconsider. This has been like a dark cloud hanging over us. A resolution was needed and sometimes open conflict is the best way to resolve things. Good luck all

Selecta6: please click on my username and read my posts, they tend to be lengthy but newer investors deserve to know the history. Please read the one from 26th December 00:26 am. (“Warrants not needed” thread) to understand historic dilution pre consolidation.

The current board was interested mainly in lining its own pockets, those in its immediate circle. To understand exactly why investors have had enough of this board, you will need to revisit the journey since they took over in December 2017. The pillaging in 2020, culminated in two quick dilutions (share issue went through in November 2020) to take over Pharm2Farm from BRH and Dr Cave, resulting in 66% dilution to existing share number, and just days ago, a further (IMO) unnecessary raise resulting in a further 50% dilution (50% IF the warrants come in to issue). We “hope” this is a new chapter starting; we will find out within the next 2 weeks where our hope rests in reality.

Roace: allocation of warrants requires a special resolution and hence 75% of those that do vote, need to be in favour of the warrants. Every vote matters. Lets all vote to try prevent dilution. 400m shares is a huge number. If the 20m warrants to the crooked broker and nomad can also be blocked, I would celebrate.

Goofy here :)

Nolopus: For those 1.4 p warrants to get cashed and flipped, it needs news flow. And placees too would flip in a heart beat. Of course entirely possible board has huge support in voting, but PIs need to vote strongly against the dilution regardless of outcome.

With this much uncertainty on timing and board integrity, as you say price is likely to stagnate. It suits LTH as I said in various ways. As with most things in life, short term pain leads to long term gain. Imho only