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What I can understand is why a HNWI is paying $2 million for 141483 shares when he /she could buy the same number on the open market for under £200K. I realize they couldnt be bought in a single purchase, but £10K a day over a period of 3 weeks could be bought without anyone noticing.....
I am under the impression that they can convert at any price, even lower than the floor price. I stand to be corrected.
btbt, you hit the nail on the head! RS clearly stated yesterday that there is no current intention to repay the CLN, in fact I think he even stated that it was a good idea to have a diverse mix of shareholders, implying that the shares that will be issued as a result of the CLN will find there way into the hands of other investors eventually. As a holder I will buy more when I feel we are somewhere near the bottom, IMO we are not there yet!
Bunsenburner 123, CLIN is the problem, along with lack of confidence in the market in general.
Hi, not that much to tell you!
Trying to get a US listing by mid summer.
Not planning on paying back the CLIN but may consider t should excess funds be available
RS was asked about the balancing $15 million funding but he body swerved it
Stated that they had enough funding up to end of 2023
RS wants to be more transparent and with PI's
For me I was expecting to see RS being interviewed in person on a screen, instead of a Logo of Tintra. It remains a long term hold, 3 to 5 years!
Aidan, I did send an email to IR over a week ago asking to be registered for the Q and A, I didnt get a response, how did you manage to register?
I emailed IR last week to register my Interest in the Q and A Session. I didn't get a reply, I'm just wondering if anyone else has heard from them?
Newuncle, could it be that the CLIN will have forward sold the full amount to an Investor at a pre determined price and is just waiting for the low point before calling off the shares? If I was a HNWI I wouldnt be buying in via TINTRA, Id be calling the CLIN for a much better deal.
Newuncle, thanks for the explanation and figures. Maybe you can clarify a bit more, so assuming they have got the share price down to the floor price and the 5 day average is 1.20, less the 8% discount, they then can request from the company, shares to the value of £2.5 million / $3.0 million dollars.
Presumably they wont want to hold all the shares indefinitely and they will wait then sell into a rise in the share price, meaning that we stay more or less at a low level until all the shares are disposed of/ or they stop selling.
Im also assuming that as the agreement was for $10 million, that this process could continue should Tintra take the balance of a further $7 million during the year?
Am i getting this right?
Thanks
Newuncle, thanks for doing the maths....
For one, I think Minto will be investigated by the DTI/ Insolvency Service, Il be surprised if he is not banned from being a Company Director for a number of years. His actions have cost a lot of people a lot of money.
Newuncle, going forward, the problem for Tintra / RS will surely be finding Investors willing to pay such huge premiums to share price. The people who have just paid $10 million must be furious! The CLN guys are getting shares for buttons in comparison.
With all the technology and accounting software available these days, how does it take so long to produce a set of accounts. Surely the company is running monthly management accounts and they they are up to date? The new CFO, Elizabeth Lake was appointed in July 2022 ( I think), has she not got to grips with things even after 6 months? Most accounting these days is just Data entry, the software does the rest. I find this quite unbelievable!!
Oculusprime, I actually think its just down to incompetence on behalf of the Auditors coupled with the accounting system at REVB which is in a mess. There can be nothing more urgent or important at the moment other than to get this share re listed. If there is a deal being done in the back ground for Company, all well and good, however it shouldnt hold up the accounts.
So how do you think it will get to £5.30 because even if the $15 million arrived today I dont think it would reach £3.
A year ago I bought share in Tintra. They had a clear plan of what they were doing and how they were going to get there. A year later I can only say..... what a mess! They have missed almost every, if not every self created deadline that they have set for themselves, some major and some minor, but they always miss them. The sale of the lottery business was 6 months late, the $25 million funding was late and is still not completed. The company has raised $10 million but the balance of $15 million that was supposed to be here by the end of January appears to have been forgotten about. RS stated there would be a Q and A in February, and I know that there is still a week to go, but there is now no mention of that either. For me, this share is now, like most AIM companies, a complete gamble. I have no idea how the company is going to be able to raise further funding when the current share price is so low. I know they have stated that they have funds for most of the year ahead, but the CLN is killing it and I cant see how this can be rectified. This is just my opinion and Id be happy to be proven otherwise. I am still a holder here, although I am £10k underwater!
Buy on a rumour and sell on news.....