Member Info for notrac

The now ex FD has been charged with suspicion of fraud by false representation, i.e. providing misleading information. So far he has not been charged with dipping his hand in the till, but it is possible that he has been covering unauthorised withdrawals by falsifying the accounts. The gross margin on this business is just under 80%, which seems very high. I note that balances for trade creditors and other payables have increased by 40% since 2013 while all costs have increased by nearly 100% per annum. Receivables have doubled to £11 million, strange for a cake business to have nearly two months sales outstanding in receivables. Presumably the auditors did obtain third party verification of all bank accounts at year-end. Was there a bank overdraft that they did not know about? This is dreadful news for all shareholders. All members of the board should be required to resign, they have clearly failed in their duties towards shareholders.

Cannot see how the CEO didn't know what was going on. He might also be asked to help police in their enquiries.

Last year ithe SP dropped 25% between Sept and Xmas. Strange though.

The best thing that the BOD can do is issue a RNS at 7:00 confirming that the placing at 10p was oversubscribed and that NIPT has found a new broker. I certainly will not be selling.

As mentioned before, the company has certainly left itself exposed to that risk.The majority of shares are with private investors.

After last week, this could be viewed positively. Enough funds for a while yet but no sales revenues!!

Looking at the share price performance over the past ten years, the price on offer is about 10% below the average, but considerably a higher discount when compared to the past three years. As mentioned below it's an all paper deal with the consideration being paid in shares which will not be traded in London. This is about executive ambition taking precedence over the interests of shareholders. Hopefully the institutions will insist on a higher price, i.e. more Barrick shares for each RRS share.

Futura is exploring a number of options for additional funding whilst it progresses its first Phase 3 programme for MED2002. This will ensure the Company has sufficient resources to maximise shareholder value from the commercial opportunity for MED2002. The Company will also announce its interim results for the six months ended 30 June 2018 on Wednesday, 26 September 2018.
Does anyone else interpret this to mean that there could be two announcements on Wednesday or is it just sloppy drafting?

LO sold a further tranche on Friday. I estimate that the two sales will have netted them around £400k.

Per the RNS LO sold their shares on Wednesday. Price anywhere between 15p and 20p.

The share price of Barrick has fallen 4% since Wed (the day mentioned in the RNS) and the pound has gone back to 1.30. At first sight this doesn't look a great deal.

LO reduce their stake to 16.5%. Hopeful they will not sell anymore.

The discount to £17.28 should not be very much. The Board have given approval, Comcast want to complete by end of Oct, so the interest cost is currently around .3%, assuming an annual interest rate of 3%. The price should be just above £17.20, but there will surely some mischief making.

ITV is a different beast to Sky: one is free to air, the other subscription. Disney will have funds available, if they tender their Sky shares to Comcast, and want to buy more content. Liberty Global, John Malone, holds 10'% of ITV. If he wants to sell, he'll extract a stiff price.

Mention of the institutions not accepting a certain price may not be relevant. The two institutions hold a total of 26%, and there is another investor with 11%. Management hold less than 1%.

@comeonvog
If the triasl cost 6 million, and the cash balance at the end of June is less than 6 million, how will they fund it, on top of the overheads. Agree that a placing does not have to be large but they will need to find way to cover the likely shortfall.

Market Cap is now 16M. According to the last set of accounts, FUM has racked up cumulative losses of 24M, the tax effect of which is over 4M. 3M of that is not carried in the accounts. Cheap as chips in the hands of someone who knows how to execute and monetise CSD 500 and hopefully the pain relief product, and secures patent protection well in 2030s, before MED 2002 arrives. Now out to enjoy the Swiss sun.

@Grezz,.
The number is shown in the report. They split the 44 million between attributable to the group and attributable to non controlling interests.

For earnings per share you need to look at the number attributable to ELA. For the half year it was 8 cents which is twice the first half of the previous year and 50% ahead of the total for 2017.

To Daring investor
I perceive this news positively. Sorry if it did not come across as such. They realised how far away they were.