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So Chris what do you think happened to the £10m new money raised in June 2021? Remember that's a lot of money equal to the whole of 2022 company revenues before you answer.

Call me a cynic but that's one of the oldest tricks from the AIM CEO playbook, befriend a poster on PBBs, tell them what they want to hear and then leave them to post positively about the company without actually revealing any sensitive information (that's a really important bit of earning a PIs trust, tell them they are getting inside info that can't be put on a PBB). Those PIs will do your bidding, no questions asked. BTW, I have never been able to PM Gerry on Twitter despite many attempts.

Chris,

A simple question, what has happened to £10m new money raised less than a year ago, where has it all gone?

A reminder of the £10m raised in June last year.

10 MILLION POUNDS wtf has it all gone?

Gerry Brandon, DeepVerge CEO commented:

"DeepVerge has seen a dramatic change over the last year with the acquisition of Modern Water and hitting our maiden EBITDA positive quarter in Q4 2020. Along with organic expansion, 2021 has already brought new and exciting service offerings such as our recently launched Skin Trust Club and initial installations of our real-time wastewater COVID detection products. With such progress, this fundraising enables the Company, on three continents, to scale, to meet increased demand, while expanding revenues faster across the Group.

"DeepVerge and its shareholders are well placed to reap the benefits from a much stronger balance sheet, built from the integration of tried and tested scientific innovation, 30 years of proprietary data, contributing to solving the current global health crisis and acting as society's pandemic sentinel for the future.

The £10 million raised today allows us to maintain this momentum. I would like to thank both existing investors for their support and the high net-worth professional, family office and institutional clients of Turner Pope Investments, including Gresham House, who subscribed for a material proportion of the raise."

Forget about the MCAP here (which is terrible enough) but the share price is now just 1.2p in old SKIN plc money. Stuggling recall when SKIN was priced that low previously. Now have a much, much larger company (and overheads), more products being developed. Labskin was doing fine on it's own. Then Gerry go involved with MWG, the new Breath Test Product (still to see the light of day) and has launched STC and the SP has been on a downhill (well more of s ski jump) trajectory, well before the war in Ukraine. Now he has gone and got CLIN money (popularly called Death Spiral Finance for good reason as CLIN providers are well know to be the lenders of last resort for AIM companies, many of which have cost their shareholders dearly through endless shares dilution). Considering he told us all no need for further placings etc as the company had access other sources of finance this latest move showed total disregard towards existing PI shareholders (or who he chooses to call short term "Rainbow Chasers"). This shows he has totally over reached himself and the company resources (what really happened to the £10m raised last Summer). I really believed Gerry was different but he has shown himself to be just the same in the end as many other AIM CEOs who talk a good story but simply fail to deliver when it comes to bottom line (remember Revenue is vanity, Profits are sanity). Time to put up or get off the pot Gerry, get those orders in, issue some revenue generating RNSs and all will be forgiven and forgotten quickly.

Chris,

Another drop showing but that's not surprising at the moment. Sharkfund pretty much captured everything in his post IMO fwiw.

Chris,

Either way the shares will continue to drift South without news. I expect you may be able to buy them at 10p levels in a week or so. Trouble is that people will still sit on the side lines waiting for something concrete from DVRG to give them confidence to buy/add. As SIPP says, probably better to wait and maybe even miss the absolute bottom and then get back in on news updates. It could rise 50% from say 11p on news but that still means being able to buy at 16-17p with much less risk involved compared to the last placing price of 30p.

Barda,

Gerry is caught between a rock and a hard place re the long delayed CR deal. I don't even think Gerry could put a date on that being completed and he knows if he says it's off it would go down like a sack of sewage here. Hence he says nothing either way (and neither does he have to). I believe he must have considered another way and he found that last week as per the RNS update. All IMO of course.

Chris,

2 large trades of very similar size and value. Suggests to me that our high volume seller is still with us and keen to exit at any old prices. if they carry on DVRG price could be trading close to 10p in a week or so, unless there is news.

Barda, I imagine the executives at Beta Max said exactly the same when VHS went and ate their lunch even though their technology was far superior. Customers will buy what suits them for all kinds of reasons, being best in class does not guarantee success in the commercial (real) world. As for the CR deal, do really think Gerry would have gone and told the market he had access to cash via Rockfort and manufacturing (via the acquisition) required to go to large scale production if he was still doing a deal with CR in the near future?

Chris there have been 22 trades so far this morning, how can you say that is one person selling?

Hell of a gamble to T-3 a stock like MSYS effectively borrowing money over 3 days. Cost them the best part of £400. Just plain stoopid imo.

LTB,

What sort of impatient idiot would do this? Looks like someone actually tried to T3 this on Monday.

21-Mar-22 11:57:06 0.11298 4,417,703 Buy* 0.1 0.12 4,991
23-Mar-22 08:29:07 0.1036 4,417,703 Sell* 0.1 0.12 4,577

LTB,

Still 20 mins to the close but seeing almost 10m of buys in last two days without matching sells is encouraging but like the first opening of flowers in the Spring, Jack Frost (aka Helium) could yet spoil everything if they choose to do so. Another attack into the teens would be nice to see next.

I see we had a 4m+ buy reported yesterday and another 4M buy today. Seller hasn't reacted so far. Not going to push my luck and say the seller is done just yet but if unchallenged buying continues it shows some positivity at least and in this market that's something to hang on to as we wait for some news.

Nice 4m buy

Take another look at the RNS issued 10 Jan 2022 which was jam packed with business developments coming through for 2022. Here we are 2 months since and no RNSs to show anything material. All right so it's still only Month 3 of the year but still would have expected something of significance to report by now?

Well done LTB. Hope they have the decency to reply. All been very quiet here except for the board changes of course. They Gerry has gone on and on about MSYS being a high growth business (even without DVRG related sales) one would have expected to see updates via RNS confirming sales being achieved for all kinds of monitoring solutions. They can't all be Chinese related and delayed due to travel limitations or be held up by COVID elsewhere etc.

Steve from today's RNS:

As set out in the Announcement, these are the Family of the private equity professional based in New York City, who has already agreed to invest $250,000, and consists of two investments of $1,000,000 each by separate limited liability companies.

This brings the total investment by the Family or related entities to US$2,250,000, not the $2,275,000 provided in the Announcement.

The investment has no conditionality.

Steve,

This RNS states it's new money. Still got the other money coming subject to Lottery disposal.