RE: Masks hitting the shelves very soon20 Feb 2021 11:23
I don't interpret it as such.
Alex was the only person capable of commercialising the offering, him coming onboard was the shining light.
Shall we represent the facts as you have a case of misinformation.
'agreed pay FortOak Rolls Limited (a company wholly owned by Alex Vergopoulos and part of the FortOak group of companies ("FortOak")) a sum of £150,000 and provide Alex with 8 million shares and options over a further 7 million shares (the "Options") in recognition of the work, and related expenses, that Alex and the team at FortOak have provided in bringing the machine into operation and securing raw material supplies. '
So Alex has received 8M shares, options on a further 7M & £150,000 cash - you claim he gets 8m alone and it is 'nothing' actually it represents nothing has changed when it comes to the company diluting shareholders.
I think they will get there but it isn't going to be soon. Honestly i think it will be Q3 until it starts coming together.
This isn't some masterstroke by Gareth Cave.
'With the mask machine now operational the Company has embarked on a strategic review of each of its three subsidiaries (the "Strategic Review"). The purpose of the Strategic Review is to identify how to employ the funds raised last year to focus on and develop the most attractive opportunities among the large number now presenting themselves, alongside the investment that has been required to manufacture masks.'
They raised funds without knowing why they were raising, it is so amateurish but to admit it? my word.
Production is not round the corner either.
'The current production rate is significantly below these levels and the commissioning process has identified a number of issues that need to be resolved over the coming weeks in order to improve the machine's productive capacity. '
So they misrepresented their ability on a massive scale when stating 5M per month, they underestimated the task at hand so greatly that they are not trustworthy at management level.
This isn't going to come together for some time, i still have some shares but they are bottom drawer and come back in August.