The next focusIR Investor Webinar takes place tomorrow with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
I also was reading the RNS again, in particular this bit:
"CAP-XX is in negotiations to ensure that this issue AND ALL LITIGATION MATTERS with Maxwell/Tesla are resolved in a cost-effective manner and as soon as possible."
I don't know if I'm reading too much into it, but perhaps they are trying to negotiate with the other case also, to avoid the embarrassment of another skewed USA jury.
Phew, breathing a massive sigh of relief this morning. I was dreading what I'd wake up to this morning. Why couldn't the company just be up front about this earlier. Also the court documents are poorly worded.
Hugely discounted placement in an understatement. Maxwell legal fees and costs will be in the region of $3m, add on another $1m for cash flow. That's about £3.2 sterling. Discounted placing at circa 0.3p, that's over a BILLION new shares! (Compared to 720m shares currently).
Weeeeeee!! This slide is great fun, where is the bottom?! If you can't laugh at your own misfortune.....
I'm in the same position. The company is on it's knees, we're surely at capitulation point now. Even if I wanted to sell I'd never be able to sell all my shares anyway so may as well just hope it all comes good.
A placing is not palatable at these levels but if it means the company survives then we have to accept it.
Anthony Kongats will also be sick as a pig not being able to have the retirement he wanted.
It looks like CAP-XX could be divested / merged. Here are the two new proposed board members:
Peter Fraser: https://www.oaklins.com/au/en/team/4239/
Dr Anthony Sive: https://www.linkedin.com/in/anthonysive/
The question is what does this mean for shareholders?
Interesting article...perhaps they could get a head start by buying Ensilica.
https://www.tomshardware.com/tech-industry/artificial-intelligence/softbank-founder-reportedly-aims-to-raise-dollar100-billion-to-build-ai-chip-company-that-would-rival-nvidia
SO ORDERED, re [327] Joint Stipulation to Extend Time for Maxwell to file Bill of Costs or any Motion for Attorneys' Fees to March 15, 2024. Signed by Judge Jennifer L. Hall on 2/26/2024.
Why is it 'joint'. Why are CAP-XX enabling Maxwell more time to decide how much costs to be hit with.
Surely it's in CAP-XX interest for Maxwell to run out of time! FFS!
Solid results and outlook but expect the MMs will drop it on similar fears to what happened at Sondrel.
Https://www.uslegalforms.com/forms/de-spec-ao-133/bill-of-costs-district-court
I don't understand this. I thought the appeal said that both sides bear their own costs. I wish Maxwell would just F off now, i'm sick of this.
Buys picked up again today. Bodes well for results on Monday.
Looking better this morning.
Thanks glimmerman, your post offers a glimmer of hope :) Also nice to see some buys this morning. I won't be happy until we're trading above 3p again with positive outlooks!
The law firm are pathetic, I agree. This issue of non-validity was raised by Maxwell about 3 years ago. How could the lawyers have not seen this loophole and advised CAP-XX accordingly. Management were 'very confident' of a favourable outcome right up to the start of jury trial. They also said in the meeting that the other case with Tesla was purely a negotiating tactic. How can it be a tactic when there is nothing to negotiate! Personally I now think the management don't know what they're doing. And we STILL haven't seen the outcome of the pipeline analysis that was promised before the end of last year.
It means nothing. Plenty of companies do Investorr Meet and their share prices are all languishing.
Looks like the MMs are going to open this down, the F**kers
Translation, we've got no money to fight the appeal so are giving up.
Yes but clearly they will communicate it at some point. It's not due until October and in any case it's all owed to MXC so it's not a hard deadline and something will be sorted out.
I had a dream last night that the reason they ended the appeal was because Maxwell agreed the decision was wrong and that we should get compensation. It was very realistic...until I woke up :(