Member Info for MattTheBrave

...and we're back to �28! Well done to all who stuck out the recent 'mini-fall', and to oilbagger who bought a few more. However, as we approach �30 again, my thoughts turn to some profit taking. Anyone else?

Not sure I agree Cas. I think the $85mn needs to be sorted before the stock goes back to 11p, as this was new news when it traded there previously ie the 11p share price previously was before investors new that another $90mn was required to keep the lights on. Solus taking up the $4m won't do anything IMO. Only when the $85 is also sorted will the stock go back to double digit (again, all IMO). Which is why I'd be happy with 7.4p today.

...at 7.4p which would be a 50% return. Probably won't get there today, but you never know!

yep - that's why I added the smiley face.

Yep - Just $49,760,000 to go...:-)

Well, fair play to you creature, having the guts to admit you bought share at11p plus when the market price was half of that. Less than 1% of current shareholders followed your lead unsurprisingly. However, the RNS is rather quiet regarding the $50m they need to raise by end June, whilst the $40m 'infrequently recurring revenue' question also remains unanswered. Still plenty to ponder here I think.

...assume they're worthless - then anything else is a bonus!! Court case not gone anywhere yet, so hope diminishing by the day I'd say. Lesson for PIs here - Don't bet the house on a small cap aim stock! I had a holding, but it was small because I was cautious. Regularly castigated on this Board for that caution as well, LOL!!

.......in case you wondered!

Founder Julian Dunkerton is leaving. I've been buying more below �15. Momentum within the Company remains very positive.

Yep. Should I take my �100 profit now, or await the results of the open offer.......tricky!

Well, at leat we’re going to find out one way or the other quickly!

Pretty good timing there!! Failing a general market collapse, I see this continuing to ease upwards as the stock remains on a modest multiple of around 15x.

* Not really....;-)

yep, that would be nice...;-)

Hi HITS - Yes, I agree with you that the extra $50m is not covered by the D4E, and is in addition. My only point was to remind people that the extra $50m was not just being raised from the current shareholders (who currently have 100%, but will only have 7.5% post D4E), but from the entire post D4E shareholders, and that current shareholders' 'share' is only ~$4m. In reality, I suspect that the bondholders might have already agreed subject to not being forced to bid for the entire company. Romaron's point below that the wording around insolvency is actually for the TO Panel to agree to this makes some sense I think.

Around $40m is the responsibility of the debt holders anyway as this is their 92.5% share of the open offer. The only question is whether they are happy to wear the extra ~$4m that the PI's (owning 7.5%) probably won't be taking up. I would say there's a ~70% chance of it happening and a ~30% chance of insolvency. As the chance of survival is >50%, and I think the shareprice will double if it does, it's a reasonable, if very high risk, punt (but I wouldn't risk more than a few hundred quid).

Actually, I think that's a reasonable summary. Only bit I'd draw an issue with is '...surely they know what they are doing' which I think is very much open to question in a general sense given the history here.

Mental impairment perhaps? So probably half the posters on this Board....;-))

9% stake accumulated by activist manager Traction pushed the share up by 25% today. Definitely an interesting development!!

Hit an intraday high on 24 March 2015 of 296p Bunch hairsplitters, honestly...;-)