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Not exactly a surprise. Good to get the placing away at a higher price than the last one. That's a good sign. The going concern part of the accounts is now signed sealed and delivered. Remember. This is still priced to go bust. That isn't happening now. LTHs understand the turnaround plan and this is all part of it.
Https://twitter.com/versarien/status/1767186709844828269?t=Lr5dbaA2WNNnHcqRqyfuSQ&s=19
Hardly the actions of a company about to go bust. Far from it. There's obviously a pressing need for this appointment. Somethings afoot. That's very clear
Versarien Korea Limited, which operated the Korean Plant, made a loss after tax of £771,690 in the 18 months to 30 September 2022. So that's a £771k loss off the books forever plus £604k for the sale of the assets. Ricketts garden leave payments are finished now too. Significant savings and much improved financially going forward
Even if you had £1m and tried to buy VRS outright you would find out that the company isn't for sale. At any price never mind £1m. There are parts of the company for sale but not the graphene side of things (apart from Hanwha IP which is independently valued at £5m)
The current MCAP is quite simply a joke. The 2 mature businesses that are currently in the process of being sold are worth more for sure. Also in the process of being sold is the Hanwha IP (which has been independently valued at £5m on it's own). Add those 3 together and you can see why this is grossly undervalued at the moment.
Nobody has lost their entire investment at all. In actual fact, I know that certain investors that actually took the bother to attend the meeting today came away positive and bought more shares. It's not all doom and gloom behind the scenes I can assure you.
Https://www.surrey.ac.uk/news/new-surrey-research-promises-end-potholes-create-safer-roads
Yes really. It's a great move by the BOD. Yes, he's young but my goodness, he's got his head screwed on the right way. For me, this is the first bit of really good news in a while for VRS. The future looks better tonight than yesterday.
Absolutely brilliant news. He's perfect for the job. Knows his stuff with regards to the company and more importantly the tech. He's exceptionally well respected in the graphene world too. More importantly, this (along with his recent share purchase) means that he's going nowhere and the company looks on a much surer footing now and going forward. Overall, fantastic news. At last something to smile about and shift the SP upward. Congratulations Dr.Hodge 👏