Member Info for LTbeliever

Thanks Howardzz.

I v been following the events, my only worry now is how much the Co will have to raise as a prerequisite for the EPC, when (before or after EPC is sealed) and at what SP (thus, determining any further dilution). Most of the scaremongering of ALB - as expected -has not come to fruition (delisting, bankruptcy, license revocation etc) but we will need funds to develop the mine. But, we are nearly there and Africa will be a huge market for our potash.

Jiving, how dare you say ALB is deceiving the BB? He's simply entertaining people. Always with WIN WIN comments!

If SP drops after further dilution, he will say "guys, I sold ages ago at 0.48p"; when the SP rises, he will say "guys, I have now 20 million shares at an average 0.50p, or thereabouts".

He can never lose, I guess we must thank him for his funny comments.

Amazing! Within a year, Gerry ruined 2 PLCs leading to huge value destruction and countless jobs and livelihoods lost; is he adding these to hic CV?

Private Co means zero control for minority shareholders (us), probably allowing the board to create new entities to cherrypick profitable ventures, whilst running MSYS to the ground.

We will know within the next 12 months whether MSYS will survive (or disappear).

Well, cash is finite so it will run out soon, one way or the other. Whatever happens (I am not a fortuneteller), the clock is ticking. Taking it private might also be a plausible scenario.

B4 dilution (good scenario!) or the end (bankruptcy); as per 25 Sept RNS:

"....continues to meet its obligations as they fall due, providing a funding runway through to mid-November.

... discussions with several parties about strengthening the balance sheet and aims to conclude a fundraising within that period. The Company would then seek reinstatement of its shares to trading on AIM... subject also to having published the FY22 report and accounts... its interim results to 30 September 2023 and augmented the leadership team. ... £1.5-2.0m would provide sufficient funds."

Just guessing here, but the RNS mentioned zero cash by mid-November; this might mean that (otherwise why issue an RNS, especially now that the crook is out of the picture?) they are close to getting the funds needed i.e. we'd hear sometime in October about both funds being raised and the Audit's conclusion.

My worry is not the above (1+ million should not be hard to find), but that Nigel and his mates will buy the new shares at heavily diluted prices and basically take full o/ship of the Co, and leave us with next to nothing.

Sol,

The main issue for us is the dilution ahead; if Nigel, who has lost already a lot of money, is willing to invest more money in the upcoming (I hope) Placing, and with Gerry out of the way, a Placing might be successful;

we still need to have more info about the cash burn (100k or 200k pm?), Gross Margins, business outlook, the 1.4mln debt by DVRG (is MSYS getting something back eg stock?) before anyone can make any assessment, especially new investors;

Sol,

It's related to bioprocessing i.e. drug development by big pharma.

https://www.microsaic.com/2023/08/24/revolutionising-bioprocessing-mid-proteinid-for-smarter-workflows/

If not BS, then maybe new investors will fork out good money (and dilute us along the way).

Re Cash, the Co had said a few months back that:

"Microsaic has cash of £0.8 million as of 17 April 2023 and is due to receive R&D tax credits in respect of 2021 and 2022 totalling circa £0.5 million, as well as the outstanding DeepVerge balance of £1.4 million."

From mid April to mid Sept, 5 months have passed; either the Co is burning 100k per month, or (if they received the Tax credits of 500k) 200k per month.

@whitecells

I said potential dilution 50-80%, happy with 50%. If it's 80%, then 90% is not far off; it all depends on who the new investor/s will be, what margin of safety they want and whether they believe that the "innov. products" are not the usual hot air or real; so, nothing is certain, including whether funds will be raised;

The only positive from the RNS (if it can be relied on!) is the mid-November date they specify; we will see if they will stick to this timetable.

Everyone has realised that Gerry is a crook and/or incompetent, therefore no new money would be forthcoming unless he was kicked out; unfortunately, it seems that he will get away with "stealing" MSYS' 1.4 mln that he gifted to DVRG.

1.4 mln is what MSYS needs to raise now and dilute us by 50-80%, if not more.

Mid-November is in 7 weeks so we will see what happens; hopefully, the new shares placed will be at a decent SP (i.e. ONLY a 50% dilution! ).

Deepsulk 'd be more appropriate IMO

Yes, nothing to do with MSYS' trade debt but I have a suspicion that the remaining disposals will not yield anything worthwhile for MSYS; in theory MSYS could pursue DVRG assets for the debt, but who will do that? MSYS corrupt Board?

Https://www.lse.co.uk/rns/DVRG/disposal-update-jq4wtrexwxwibzj.html

Back to its Management, based on unaudited numbers - how convenient!

I don't think "duped" is correct; defrauded is more correct given the RNSs issued, the NOMAD supposedly checking these, Turner Pope doing 2 fund raisings for DVRG under false pretense, even with institutional investors getting involved; the fraud only came to light when the new BoD took over and by then, it was game over. I only wonder whether these guys sleep at night or not, given the level of fraud (and length of time) perpetrated.

I am just curious about Turner Pope; they kept issuing those glowing research Notes on DVRG (TP 90p!!!) and then did 2-3 fund raisings for DVRG and MSYS, scre--ing themselves and their clients in the process. What kind of due diligence were they conducting, especially given their insider status??

IMO, no sense in arguing among ourselves; we know GB is a conman, those of us who still have MSYS shares are just waiting for news on whether it will be delisted, heavily diluted or (1 in a milln) a mild dilution (whatever this means).

Those with no shares in MSYS, I wish well in their life and to get redress in courts against GB & his gang for the DVRG fraud.

DVRG just announced its CFO leaving; N Burton thanking him for revealing the mis-statements of "previous" Management; previous!! Were was he?

The sad truth is, even with an RNS and audited FS, GB's business (un)ethics mean that no serious investor will trust GB with any money again; unless AFS/outlook are so good, and dilution is so big, that it would be worth the risk for a new investor!

Hopefully, GB would then be kicked out.

They seem more active now than before the suspension! Probably an attempt to forestall investors' ire.

In any case, the essence of the matter is, whether MSYS is making money or not, are PIs going to benefit? GB and his mates if delisted? Or the new investors, assuming a big dilution?