Member Info for mugginsthedog

Paulcon - I am disappointed to be right each time as I am a significant shareholder. However, I see significant downside risk here

NU - you are absolutely right. I have only been here for a decade which barely counts. Unrealistic to expect results in such a short period and GB is right when he describes those who have held shares for only a few years as ‘rainbow chasers’

More ‘jam tomorrow’!!

Then you really are foolish. This is much more likely to drop into single figures than get to 20p. The financing structure makes a rise to 20p unlikely

Volmer - interesting that there are still no posts on the breathalyser even from the company spokesmen. I suspect that it is dying or dead given that we have not received an update from months. As so often with this company it is all spin and no delivery.

Looking forward to an official update on turnover and profit projections for this year together with KPIs. Remarkable that we have nothing yet

Volmer- a good question indeed. Perhaps the breathalyser has died a quiet death? Even so one might reasonably expect that the company would keep us updated.

I note that Trills, the company spokesman, was not terribly anxious to enter into discussions around the breathalyser. I wonder why!?

Amazing how we do not win any orders (and we blow our way through £10m in a few months)

Tragic that there are some apologists who do not seem to care where £10m has gone.

Clearly there are some who will not accept any form of questioning or critics may even when the SP bombs from 70p to 12p. Time to wake up?

Chris - I recall yesterday that you would answer the questions of a couple of the rather more perceptive posts. I do not seem to have seen a response so far. As GB's apologist in chief I would welcome your views. For your convenience they are set out below;
'It’s ironic the ceo has labelled some investors as rainbow chasers in the past when he thinks there is a limitless pot of raises and debt he continues to dip into in order to generate revenue less than the raised debt/equity. This is why the share price has not moved. Instead of having ruthless focus on landing big sales on one-two markets he has tried to fight on all frontiers and rainbow chase any and every opportunity all at once and start to talk about multiple unicorns under this umbrella. Please show us just one unicorn, shareholders will be happy. We can worry about the other later. This inept strategic strategic decisions have exposed the business to high risk and made this in to high risk investment unnecessarily for poor old loyal shareholders who are now at risk at further dilution. Frankly irresponsible. Gloating about growing employee numbers over the last 12 months and this is where we are. Larger overheads and a reasonable uplift from a small revenue figure (bot to mention acquisition). The lack of professionalism in reporting and and consistency between each RNS keeps us all guessing. A quality business has RNS pattern that you could pick up the last 12 months RNS and follow one from another. All we hear is we are busy and we are growing and we need more in the begging bowl. There was a claim 2021 loss was not cash related - so fck knows why another 4m is needed to the ‘9.5m’ revenue from last year. Last chance saloon. There is no real forum where he can be questioned - just a scripted chat with Katie. I think we need to start thinking about launching a shareholder action group soon. Still time to rescue this before he plunders all the cash in the new facility.'

and

'Chris, what do you think labskin did last year? Look at how much MWG contributed (RNSs) which is over £6m so labskin has stagnated at best. GB chasing rainbows and forgetting bread and butter IMO. He has likely spanked far much more than planned on skintrustclub hence we are where we are.

We should have a divisional breakdown with KPIs like a proper PLC yet we report and behave like a tinpot minnow which with the current state of play we are.

GB meant to create sustainable shareholder value but we are below the share price from discounted raise 3 years ago. Shocking. Re-read Shark’s post and tell me what you disagree with.'

Vascular - That is precisely the point NOTHING has happened in the last year

Where has the £10m gone?

Why have we been forced to go to lenders of last resort?

Chris - you seem to be GBs spokesman/apologist. If that is the case perhaps you might want to answer the points raised by sharkfund and RB40. For your convenience I have copied their posts below;

'It’s ironic the ceo has labelled some investors as rainbow chasers in the past when he thinks there is a limitless pot of raises and debt he continues to dip into in order to generate revenue less than the raised debt/equity. This is why the share price has not moved. Instead of having ruthless focus on landing big sales on one-two markets he has tried to fight on all frontiers and rainbow chase any and every opportunity all at once and start to talk about multiple unicorns under this umbrella. Please show us just one unicorn, shareholders will be happy. We can worry about the other later. This inept strategic strategic decisions have exposed the business to high risk and made this in to high risk investment unnecessarily for poor old loyal shareholders who are now at risk at further dilution. Frankly irresponsible. Gloating about growing employee numbers over the last 12 months and this is where we are. Larger overheads and a reasonable uplift from a small revenue figure (bot to mention acquisition). The lack of professionalism in reporting and and consistency between each RNS keeps us all guessing. A quality business has RNS pattern that you could pick up the last 12 months RNS and follow one from another. All we hear is we are busy and we are growing and we need more in the begging bowl. There was a claim 2021 loss was not cash related - so fck knows why another 4m is needed to the ‘9.5m’ revenue from last year. Last chance saloon. There is no real forum where he can be questioned - just a scripted chat with Katie. I think we need to start thinking about launching a shareholder action group soon. Still time to rescue this before he plunders all the cash in the new facility.'

and

'Chris, what do you think labskin did last year? Look at how much MWG contributed (RNSs) which is over £6m so labskin has stagnated at best. GB chasing rainbows and forgetting bread and butter IMO. He has likely spanked far much more than planned on skintrustclub hence we are where we are.

We should have a divisional breakdown with KPIs like a proper PLC yet we report and behave like a tinpot minnow which with the current state of play we are.

GB meant to create sustainable shareholder value but we are below the share price from discounted raise 3 years ago. Shocking. Re-read Shark’s post and tell me what you disagree with.'

On 25 November GB received £128k in return for 1,255k shares that he was due to receive. In addition the company paid various NI and tax costs. So, rather taking shares he took cash. Any rationale individual would conclude that this is effectively a share disposal. He has taken cash rather than shares.

At the time it was justified because of the ‘significant rise in the Company’s share price’. It was also noted how robust the cash position was. How things have changed in a very short period. The SP has slumped and we are forced to go to a lender of last resort for funding.

At least we know where some of the cash has gone. What about the rest?

Sharkfund - the most sensible analysis I have read on this BB for months. Very well done

The NXDs are indeed failing in their responsibilities. But then again they are on a nice little earner with their fat fees and non-standard options (although these are well out of the money).

My understanding is that this is not a sale. They are manufacturing to put the product into stock. They will probably hope that they can subsequently sell it. I do not recall seeing anything in the RNS suggesting that there were any sales.

Chazzy - I have Ben right of the last few years. I called the fund raise and I also said the SP would fall into teens.

You have been urging people to buy when the SP was 70p. Fortunately most people ignored you . Describing yourself as Smart money is laughable

Chazzy - a SP crash is a good indication that something is not right. A collapse from 70p to 12p is more than a little market wobble. However, there are many other red flags;
- The CEO selling a net £100k of shares over the last few months
- Mrs GB selling
- An executive team with a less than stellar background including many disgruntled PIs in Alltracel.
- Haemorrhaging cash (where has the £10m gone from the last fund raise?)
- No new orders
- Borrowing from lenders of last resort
- GBs unearned shares from MW
- Lack of delivery on China partnership due to have been completed 9 months ago.
- Breathalyser still in development over a year after it was supposed to be available commercially.
- No cruise orders

I have barely scratched the surface. The company is a shambles and the market recognises that. Sadly there are still a few deluded souls who cannot see what every one else can.

Chazzy - my analysis of the company has been spot on. I called the fund raises and the SP. Sadly you have not done the same but sadly demonstrated a complete lack of objectivity or knowledge.
The fast majority of posters having been ramping this share. I have shown a measured and accurate summary of the situation. The Sp has reflected this failing from 70p to 12p. So who is right?

Ratty Argyle is right - you will need a new employee soon

Ratty - I think you might be losing it. GB is going to a cheese and wine party. We need sales not sore heads

There have been no new sales RNSs for a year.