RE: What does everyone think happenes Tuesday?28 May 2023 09:37
Morning guys
I had a good drink Friday to celebrate and I'm still recovering.
However I thought I'd read the beautiful RNS again from Friday but I didn't read this properly originally.
I'd not put anything past this BODs and they spent 268k between April 25th and May 25th [wtf] and now sit on less than that total 1 month spend @ only £248k
The bits of the RNS from 10am Friday that worry me are,
As of 25 May 2023, the Company had cash of approximately £248,000 (25 April 2023: £516,000) with contractual liabilities of approximately £72,000 (25 April 2023: £231,000). The Company has no trade but relatively significant on-going expenses.
The below part is worrying too as they could pull a stunt at anytime to call In liquidators:
Given the Company's cash position, its current contractual liabilities, the contingent liabilities it has to consider and the ongoing cost run-rate, the Directors, in consultation with the Company's advisers, are assessing the solvency of the Company and a further announcement will be made as soon as is practicably possible. It should be noted that the Company has to assess the costs and timelines involved in any insolvent liquidation process when assessing its current solvency position.
Let's hope we open around 55p on Tuesdsy and a TR1 from PH. If not I think I will take my proft and run
All my own musings and as always it's not advice just my experience with this share.
GLA and I'd appreciate an opinion from some of the guys who have posted here regular.
Not a ramper who bought in at 60p Friday and hadn't heard of the company until 10am on the 26th