Member Info for MickR

Are they working a placing? Sharp drop from the earlier highs? If a placing, surely it would be 1p or higher?

DYOR

Relentless buying now....

DYOR

Looks like I need to cut my losses here, the fall is relentless FFS.

The highlights make very positive reading.Considering that we were at 0.65p the other day, I would expect to see the SP above 0.70p today. Looks like it could re-rate in the fullness of time as positive newsflow continues.

DYOR

Any small buying will move the price up as the SP is on its knees. I would be much happier seeing a SP of 0.70p which is a market cap of £350,000 only. If we get clarify on the inflated expenses that were touted by AF, we could see a spike to 1p and higher even without factoring any interest in the debt free listed cash shell that we are now.

Good luck all in.

Nice post Reardon95. This def needs looking into.

1p takes us to a market cap of £500,000 which is equal to the net sale proceeds. If someone were to challenge the costs and with AF gone, I am sure we could see a move back over 1p pending any third party interest in the cash shell that we are. Listed and debt free.

DYOR

I would rather someone like Afzal Valli or similar with contacts in the city take the initiative, if he is still holding. My holding is in different proxy accounts/people so that I do not have to declare any TR1s.

I am holding 1.5m shares. We could ask for an audit of the sale proceeds as £700,000 costs of a £1.2m sale sounds excessive and unreasonable. I am sure there are leakages!

Remember all liabilities have been transferred to Baaj on completion of the sale so we now have zero debt/obligations in connection with the business that was sold.

We then start marketing the shell to any firms looking for a listing in London. However, I am unable to lead this process as I have plenty going on personally but happy to help any enterprising people who are ready able and willing.

This is a fab opportunity in my view.
DYOR

If any PI's are genuinely up for owning a listed shell, we could easily buy this out entirely at less than £500,000, get rid of the two directors and try and make a business out of this if we were enterprising enough IMO.

Any takers? :-)

The downside at 0.60p or below is very limited or none IMO but the upside is at least 1p IMO.

We have cash from the sale and we are a debt free listed cash shell now so that could attract some interest. The market cap is presently £250,000. Do your maths.

Even if we attribute a £1m value to the listing and cash shell, that is a 2p share price, not counting a penny of the £500,000 net proceeds from the sale of the business.

I am in for a punt.

DYOR

Half the net sale proceeds. Plus AF gone and costs are £700,000 of the £1.2m sale proceeds. Have never seen costs so disproportionately high compared to the sale price so holders should ask for them to be audited.

Min 1p a share without ascribing any value to the listed shell which could be another 1p or 2p if someone is keen to acquire a debt free shell.

Dyor

"ACCORDINGLY, THERE CAN BE NO CERTAINTY THAT ANY SUCH OFFER WILL BE MADE."

ITS is now a cash shell with zero debt/liabilities. A new listing could cost from £2m to £3m in costs/legal fees etc, yet here we have a situation where someone can put in an offer and buy the shell for 1p per share of £500,000.

I am expecting fireworks as soon as someone shows as an interest.

We also have net sale proceeds coming.

It is a bizarre situation IMO.

Shareholders should get a minimum of 1p IMO.

As things stand:

The sale price is £1.2m and the company expects the net sale proceeds to be 500,000pounds. The members voluntary liquidation costs should have already been fectored into the 700,000 pounds costs above, see resolutions:
"The Net Proceeds of the Sale receivable by the Company are expected to be approximately £500,000.
At this stage, the Company expects any distribution to be conducted through a members voluntary
liquidation of the Company as it does not have the available distributable reserves to declare and pay a
dividend nor would it want to incur additional costs by conducting a return of capital."

https://inthestyle-wp-2021.s3.eu-west-2.amazonaws.com/media/2023/03/265414-Ideal-Circular-WEB.pdf

Shares in issue are 52m and present market cap is 260,000 pounds at 0.50p.

I would think a fair SP would be around 0.80p or 400,000 pounds at this stage, so the downside is limited IMO if you buy at 0.50p to 0.80p. If AF throws shareholders a sweetener and tries to control the costs, a 500,000pound distribution would be 1p a share which I think should be the least offered to shareholders.

If a third party comes along, the SP could get higher than 1pin the cash shell itself. ALL IMO, DYOR

DYOR

I expect a rise to at least a market cap of £400,000 or 0.80p after the initial Friday sell off and a third party could make an offer for the cash shell as the listing remains until at least September 2023. The FCA could also ask the BOD to ringfence a payout to shareholders from the sale proceeds.

Some shells are worth 2-3m pounds as well alone with zero assets. The current market cap under £300,000 looks too cheap to me now that the shares will not be cancelled or suspended for at least 6 months. A lot can happen in the 6 months.

It is not yet over and for those looking for a 50% gain from down here may see it.

DYOR

Latino the delisting votendid not pass. Adam needs to be reported to the FCA and the SFO.
This is fraud at work.

They have stripped the company and shareholders shafted. Going below 0.5p IMO as they will say nothing left for shareholders after the winding up.

Dyor

We are currently at around 42bn shares from what I can make out, even the share count reaches say 50bn, a good RTO should see us at 0.020p (4 times the current SP) or £10m market cap as there are a say 8bn more shares to be issued to settle past liabilities.

Good luck punters and investors alike.

DYOR

One whiff of positive news and this will be off to the races. EGHOS have certainly killed the SP and I hope they will be out soon if not already out. Why would Brad bring this back from the ashes to let EGHOS out unless he has a RTO in the pipeline!

It goes NT to buy very quickly so the rise could be massive when it gets going. I am holding 250m golden tickets...waiting for the payday. Should see a bag or two very quickly when it gets going IMO. Sub 0.005p is a good buy IMO.

DYOR