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I think the BOD and BDO are both Useless!
Regarding the Stat Demand, they are not usually issued without prior requests for settlement. Its not looking great, because they dont just go away, it needs to be dealt with within 21 days, either disputed or settled.
I guess we dont know what the agreed period is? Maybe it has lapsed??
I am disappointed with Bob Holt and the new FD. I know they didnt create the problem in the first place, but they have been at the helm for some time now. There appears to be no urgency on their part to get the suspension lifted.
Its completely beyond me why the accounts are taking so long to be completed. It cant possibly take this long, even if they started again from scratch.
Divorced Twice ?? Didnt you learn the first time??
I cant see Minto trying to buy this on the cheap. He might want to, however I am of the opinion that his actions are one of the reasons why we are in suspension. From what we know, and in particular the falsifying of Sales could amount to criminal charges to one if not two of the founders. Just my opinion....
Bob Holt = Bell End!
jmak1912, there is definitely something else going on, it cant take this long to complete as set of accounts.
Im lost for words.....
The RNS of 30th March stated the following:
Further to the announcement on 21 February 2023, BDO have updated the company with respect to the audit of the Group's FY22 accounts. Work on the audit remains ongoing and it is now expected that Revolution Beauty's audited FY22 accounts will be published by the end of April 2023.
The RNS clearly states that its down to BDO, the work on the Audit remans ongoing. There is nothing to suggest that its because of the Medichem Valuation, which wouldnt stop BDO from completing the Audit.
Separate to this we were told in a previous RNS that TA would resign prior to the release of the accounts. There has been no further update on this.
BDO claim to employ 6600 people in 18 offices in the UK alone!! You would think that they could manage to get an Audit completed with all the man power and resources that they have.
I am almost expecting a further delay at the end of April. Clearly there is no urgency to get the accounts completed and the shares trading again.
Ignore my last post as the RNS does say 'Repayment Under Placement Facility', so maybe Tintra have elected to repay $200'000 worth in cash.
RS clearly stated there was no intention to pay off the CLN. This payment must be for the fees.
Redhammy, I think you a right, The beauty sector is doing well and the affordable end of the market appears to have boomed of late. But until we are able to get some accounts signed off, we wont be going anywhere.
Something that concerns me is that somewhat blase RNS stating that it will be another month! No explanation why, despite the fact that we were previously told that the accounts would be completed on or around the 30th March. I would not be surprised if there is not a further delay come the end of April, as clearly there is no urgency to complete on this matter.
The Saga continues.....
The bad points.... a delay of at least another month, if not longer! Lets hope they have started working on the 2023 accounts as we will be coming out of suspension and could be going back in by end of August 2023..
The good points...... It would appear that there is no requirement for further cash at this time, so no dilution at the moment.
The markets are pretty flat at the moment, hopefully things will be better in a month from now.
But I have to say, how can it possibly take so long to finalise accounts? I guess BDO must have a trainee working on them on a part time basis!
Anyway, there is nothing we can do about it....
Hereshopin..... my thoughts exactly!
Im going for 35 to 38 p on the first day of trading, there will be some sellers, but I think that the majority will hold as we have been here for 7 months minimum and can wait a bit longer. I think Boohoo will stand back and wait to see what happens, I then expect that they will make an offer possibly around the 58 - 65 p mark..... but its all a guess at this stage!
Swervington, I guess you didnt listen to the Q and A session:
1) There is no intention to repay the CLIN. RS stated that he thought it was better to have a broad mix of Shareholders, I think he was trying to justify the CLIN.
2) Regarding the $15 million funding that we havnt had news on yet, he body swerved that question, his answer was that he thought they had done a great job in this funding round so far.
3) RS stated that they are talking to 6 further potential Investors.
4) When asked about the dual listing in the USA that was supposed to be happening by end of 2022, RS stated that the Broker / Nomad that they had intended to use wasnt up to much so they are currently looking for another one, hoping that a dual listing will happen before August Summer Holidays.
RS stated (as before) that he is not concerned with the current share price.
RS stated that he hoped that they would be generating some income by January 2024.
RS also stated that this is a 3 -5 project until its fully up to speed.
IMO, it was a lac lustre session.
I was hoping that it would have been a video, where I could put a face to the name and get a feel for things, but it was just a screen with a Logo with RS answering pre selected questions.
Others may take a different view.
Il still be holding my shares and will buy more should the price drop sub £1 ( my average is just under £2).
I believe in what Tintra are trying to achieve, they have just made a hash of the funding and constantly miss deadlines, hence the lack of confidence and currennt share price.
It goes without saying that it would be a lot easer to get funding from HNWI if the share price was already £5 and not £1.20.....