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Sitting idle while building up cash reserves would have been much more preferable than borrowing more at this stage. No chance of a buy out in the next 12 months. Did they not get advice on how the markets would perceive this or did they just not care about the effect on the share price, it all seems very strange!
I get what you are saying Pokerchips, but when they can't forecast 3 months ahead, have run out of cash and then get the begging bowl out, I can't figure out what the hell the future might look like / and as they can't forecast 3 months ahead, I have no confidence in the current Board and therefore won't invest anything further. I don't think the current capital raise is enough and I think they have been told they won't get any more till they prove they are not as incompetent as they have come across in the last 3 to 6 months
What mumbo jumbo candy floss is this ??!! "Overall, the outlook for 2024 to 2027 continues to remain very positive reflecting contracts in series production and recent new business announcements, with capacity being installed to fulfil these awards." Why not just provide the revenue numbers and EBITDA based upon the production plans and working capital raise. I really despair of this lot and won't be investing another penny.
What a bunch of incompetent Directors! £250m turnover by 2030, what a load of candy floss, all anyone and they should be caring about is 2024 to 2026 revenue and EBITDA. Do these clowns have a clue or are they making it up as they go along?
Hi Guys, Having dealt in Automotive for many years I can tell you there is zero chance of an automotive customer providing finance here, it would create far too many problems ethically in their supply chain and procurement functions. The only option is a equity raise hopefully at around 15p
Sorry you didn't get your spike Neil, I think the demand has collapsed in the last 4 weeks since the problems became known and prospective customers will have been chased away. Their cost base seems to have been far too high and fixed to deal with a downturn - I don't think the Directors saw this happening when they bought just over 8 weeks ago. Stay focused and am sure you will have other successes
Thanks Washerupper, see there was a delayed £70k sale which was the cause of the drop along with another few trades so a lot of selling, guess someone expected a big rise after the news and decided to sell up. Don't think there will be massive dilution, but a small raise may be needed
Seems strange that it is dropping today by so much with little apparent volume and after yesterday's good news. Have not been invested here for a while as thought cash worries might drive the share price down which it has and I guess a small raise may still be required, but at 24.88p which I paid for about £4k worth of shares today, the risk/reward profile for a 2 year hold seems way overdone