Member Info for Muck165

Just for awareness, but in June our Dr Mark Jones was removed as a Director of Eco Flo. So, whilst we still appear to have a 25.1% interest in the Company, we no longer have any representation on its board.

And as I typed, the large sell printed - just over 9.5m at 0.843. The point is that it was fully absorbed by the book without change to the spread or depth.

All day the live bid was being walked up. Seems to me the MM’s were hunting stock and eventually got it.

But if that’s the case, just ask why they were hunting stock.

I have no idea, and may indeed be wrong.

As it is, every single noise we’ve heard has been positive and it very much seems to me that the book is being carefully managed to accommodate a background buyer. Indeed, if there has been a sizeable sell then it might be part of that book management - neither the quoted spread nor MM depth was impacted after all.

The only fly in the ointment is the delay in getting the update Halley promised us nearly 3 weeks ago. Im getting frustrated with it as are others, I’m sure, and that might indeed have caused some to jump ship..

Why the delay is the question. I don’t know the answer but it might be that;

1. There are no CIQ contracts

2. There are contracts but they’ve not yet been signed/executed.

3. There are signed contracts but there is some reason for confidentiality

4. Halley just can’t be bothered to give the update.

5. Halley teased us with the update to help create tension in the book.

6. He wants to release a suite of news in one go and is waiting for everything to be in place.

7. Bad news has happened on one front and he wants to offset it with some expected good news

Personally I just don’t think Halley would have said “Trading updates will show you the results” unless he had some strong foundation to say it. Maybe I’m too trusting but I am still firmly leaning not just to good news coming, but potentially transformative and explosive news, and I think this could relate to all 3 business areas; GDM, CIQ, and Yentra.

So I’m holding for gold.

I think we’re likely to see a sizeable sale print appear later or before open tomorrow.

Through the days the live bid was edging up (despite more sale volume than buy) and until the last 15 mins I could get 0.843 for all I have. Then the quotes changed, everything up to 3m I was getting 0.842 but anything higher I was getting offered 0.811.

Just an observation but we’ve had 50% more sale volume than buy volume so far today, but the live bid is rising.

For me, everything but everything points to there being an off book accumulator that the MM’s are working to fill.

Today

https://www.londonstockexchange.com/news-article/SALT/h1-2025-trading-update/17187876

When Natie announced his appointment to Gfinity, he said

“ We'll be deploying and crafting solutions that not only advance technology and finance but also foster societal impact and ethical leadership”

Sits well with a CC exchange.

It’s also worth noting that Yates didn’t just step down from his CEO duties in March, he also stepped down as a Director of Abingdon Health Plc. That could easily explain why he didn’t do the last IMC, but it also means he no longer has any formal executive role or voting power over the company he, and all of us, are invested in. IMO, that’s pretty odd when you consider it’s a company he founded with Hand many years ago.

And then straight after my last someone buys all the 1’s, 1,111,111 shares!!

Someone having a little laugh with the urban myth 1 code!!

Lol - he wasn’t a Scottish fella named David was he?

I don’t know if what I post is any good or not, but it’s fair to say I really do think this is going to pop sharply, for all sorts of reasons, and I really do think that over the past few weeks the book, supported by a background accumulator, is being positioned to accelerate it.

It’s frustrating not to have the update yet. But in truth, that might all be part of building the tension.

Whatever, we’ve traded in such a tight range over the past few weeks that I really can’t see much risk in having a few quid before close in case the news come Monday.

The weirdness continues.

Thin trading today but so far sale volume has been double buy volume.

Strange then the both the dummy bid and dummy ASK I’ve been quoted have edged up through the day.

Liquidity at this level has dried up. There is still a background buyer, and the MM’s are trying to get stock.

At least that’s what I think!

It could be either of those. But if so, why not tell us - the messaging would have been so much better. Even "my decision was made for personal reasons" would have at least softened the blow.

As it is, we have a director who acquired 1m shares at 0.25p just a few years ago who, it would seem, has now sold 80% of them for a 75% loss.

Hi Laura

It does look that way, but personally I doubt he was able to find a single buyer for the transaction. More likely, I think, is that the order was worked over a number of trading sessions, with both buy and sells printed as a whole once the whole thing had been filled, quoting both the average price paid, and average price sold.

Teraferma is much better at things like this than me though, so maybe he has a view.

Whatever the case, it still doesn't change the fact that the messaging is awful. It wasn't that long ago that significant efforts were put into changing the concert parties to allow Directors to buy (which they never did thereafter), and now he's selling.

Agree - what an absolutely terrible message to send to the market, particularly given where the SP is. Unless he had an unbelievably good reason (in which case why not tell us), it's difficult to think he's expecting any news which might drive the price up.

Looks like the book has stalled and we’re in for a quiet day, so I’ll just throw this out there.

Natie first spoke about EVOLVE a few weeks ago in this post.

https://www.linkedin.com/posts/natierau_ai-activity-7351912238149947392-gWRP?utm_source=share&utm_medium=member_desktop&rcm=ACoAAEuI5eIBooawepY_Ubn_CKcFOzTXAaBN1HA

Tagged on that post were some people from his IoM business networking group, but also DH, Magnus Hammick and Yannick Hammick.

The Hammicks run the UG Group, which has just launched Carbon Plant, the first IoM carbon credit exchange.

We know Natie was talking to them about it 6 months ago.

https://www.linkedin.com/posts/natierau_bita-carbonexchange-sustainability-activity-7290712525086572544-Wbm8?utm_source=share&utm_medium=member_desktop&rcm=ACoAAEuI5eIBooawepY_Ubn_CKcFOzTXAaBN1HA

We also know he first met with DH at pretty much the same time to discuss “ exciting new Ai and ML projects”

https://www.linkedin.com/posts/natierau_ai-bita-activity-7290403631902646272-8za2?utm_source=share&utm_medium=member_desktop&rcm=ACoAAEuI5eIBooawepY_Ubn_CKcFOzTXAaBN1HA

And we also know from his bio in the GFIN accounts that DH, whilst at Capstone, had a “particular focus on crypto exchanges”. Those exchanges and Carbon Credit exchanges aren’t too dissimilar in their fundamental tech foundations.

So what we have is Natie talking to a company preparing to launch the IoM first regulated Carbon Credit Exchange and then, at the same time, starting conversations with DH, a crypto exchange expert, about new and exciting AI and ML projects.

It does beg the question if Yentra is involved at all with Carbon Plant, although I recognise that’s pure conjecture!,

And I’ve unseen that large £12k trade at 0.94 traded just seconds before the end of the mid morning auction. That has to have been a buy.

Who knows OSD. But the book action seems like smoke and mirrors to me - yes, they’ve moved the spread down but if I want stock now then I’ll be paying pretty much exactly the same price for it as was being asked before the drop. In other words, they’ve dropped the quoted ASK, but the real ASK has hardly moved, so they aren’t really trying to attract buyers. I think that’s because they already have some off market.

I think we will see some large buys later, but then WDIK.

Which means the MM’s can already match stock to a buyer. Reinforces my view that we have a quiet sizeable accumulator here.

Everything’s bizarre. What appears to be a 7m sale just gone through at 0.84, below the quoted bid, yet the book hasn’t reacted at all. It just seems to me that we have off book negotiated trades going through.

Lets hope OSD.

Absolutely everything we are seeing on social media from CIQ, DH and Natie is positive, and potentially explosive for GFIN.

So why hasn't DH just given us the update he promised 2 weeks ago - surely he would want to shout from the rooftops?

Either things have gone pear shaped since or more likely I hope, we have some company changing deals with third parties who are restricting their announcement until they are ready for them to be announced.