Member Info for okenia

Just a data feed glitch. You see this with suspended shares, nothing to get excited about.

to be fair I think we're all a tad peeved at the lack of information as to what is happening at the plc level, even though Oli seems to be making great progress at the TFSL level with the app. There could be a good reason TEA can't disclose what is happening but the lack of an update from the Chairman is annoying.

Very pleased to see the stream of placings going through the TEA/Shard combination. It's putting the app very quickly on people's radars when they see it go through and then realise they could have taken part. Especially if they were shareholders in the company concerned. This is where the pressure will come from - investor demand >> brokers take on the app for good customer relations (and also get pressure from the companies themselves for same reason). End result is more brokers sign up and even if the amounts being placed are modest don't forget the business model is to have a hefty chunk in up-front fees from the broker and monthly licence fee. Any commission on top of that is cherries on the cake. Overall then it does look like TSFL is starting to establish itself. Let's just get the plc damn well re-listed!

Major_LJ @BigNorman11 @olifattal I'm pleased to see an IPO but we really could do with an update re progress on suspension #TEA Oliver Fattal ‏@olifattal 51m51 minutes ago Agreed and the board will update the market shortly.

Very popular and you can see why.

keep a timer going and let us know how long it takes to fill that allocation. Some of these go really quickly.

Stiff like that should be RNSed, not sent in private emails to shareholders. Oli is still talkative, I was chatting with him the other day about TSX and the opportunities there. But big news regarding plc-level issues I don't expected to hear from any channels other than RNS

(or even MITH to BHRD, I get my ex-shells confused!)

I was in this when it was AUCT. I have to say I was underwhelmed by the deal and it looks like those who paid in the second placing were too - it was at a discount to the suspension price. They seemed underwhelmed, I was certainly underwhelmed, and as such I did the right thing in those circumstances and sold. I'll be delighted for others still here if it turns out that I was wrong and this is more that hot air; that was just my own opinion and you're all old enough to make your own decisions. Good luck whatever you do and equally importantly I hope the company makes a success of itself.

SoniaP is quite right that as per AIM notice 42 the exchange are consulting on tightening up the rules and threshold criteria to become a new Investing Company (ZOX anyone?) New ones. The effect of this is that the dwindling supply of existing ICs that have already been listed will become scarcer, and thus more valuable as vehicles for companies seeking an RTO route to a listing. These notice 42 rules are proposed to apply to new ICz, not retrospectively to ones that have already gained shareholder approval for the change in business (as TEA already has of course). Over the next few years the shell space will change and it'll become far more lucrative for those already in. Like TEA

10p a post is still 10p, irrespective of the content :)

Interesting over at Trak people are saying "can't we get them to do this in the future so we don't get left out on the next placing?" - and may therefore put pressure on BOD to do just that. As dazzle says, makes for good PR for company and if Shard can then deliver that it means more potl business for them versus competitors. All clicks together nicely.

"any thoughts or ideas how to avoid a third time would be appreciated." Assuming Shard would do the next placing, my suggestion would be to sign up as a client with Shard ('on boarding') and then use the TEA app. Shard will continue to use this app (since they've paid for it) so that would get you in a position to participate if Shard end up doing the next one. As a general note, i would agree that it would be a PI-friendly thing for the BOD to say that they commit to allocating some shares thru the TEA app (via broker XYZ) if they do another placing. That would show they treat the little people the same as their big shareholders, and would enable PIs to get in position to use it in the future. Have a word with the BOD, especially since they've used it once, and see whether you can get them to make this an ongoing commitment to small holders. Good luck here (I'm a tea not trak shareholder)

Yup. See you here this time next year!

I would certainly agree the amount of visible activity this year (ha ha) has been pants. The numbers are fine though - still more cash than mcap and two potentially big assets. I view this as option money; if they do get traction with Arjan then this is a massive bagger. But it's one to squirrel away. After all, the reason the SP is to low is that people ignore it due to lack of activity. I wouldn't trade this short term, but as one to squirrel away as option money it's fine. As we both agree, the shift in the money between accounts is intriguing. Stranger things have happened and you never know, they may actually put that to work next year!

In what way? - mcap of $2m - revision of value of Arjan to $13.9m (so 7x the mcap) - revision of BEKON to be ~ $4m (so 2x mcap) - Cash unchanged at $3.6m (nearly 2x the mcap) but interestingly some shifted from wakala to immediate-access "for investment" pot. That suggests things are starting to move. Overall mcap is $2m versus a reported NAV of $22m of which $3.6m is in cash. What's crap about that? Yes they've done a yearly revaluation of the assets (they went up last year for example) but remember the scale of the assets is massively about the mcap and TJI still remains (at face value) massively massively undervalued on a mcap to NAV basis.

The HH stocks are essentially a pure sentiment play at the moment. Proving that there are (or are not) hundreds of billions of barrels of oil at HH is a long way in the future - certainly more that extrapolation from the well drilled so far. Ukog etc may spike again in the meantime. However, those playing the HH sentiment seem to stick with UKOG etc. they don't view EVo as a HH trade, as so at best you get a small blip here when UKOG etc go ape. I know, I was watching here the last time HH went bonkers. It could change - but you'd need some Twitter ramping crew to push EVo as the pure leveraged HH play for that to happen. And there's been no evidence that mob have any desire to do that. In the meantime you can do basic arithmetic as to the cash burn versus cash on the books, and put the date in your diary as to when the next heavily discounted placing will happen. Unless the SP gets ramped so as to increase the Mcap, that placing will be very very dilutive just because of the sums needed relative to the current Mcap. If you do want HH, surely do UKOG or the like?

I was disappointed that there was zero mention of Venn royalties in the results. That was one of the appeals of EVO - the royalties would have helped to offset the plc costs for such a small investment company. No idea where they have gone to. EVO moved to a certain extent during the last HH rise, but not anything like as much as the more visible pure-oil HH plays. Pity.

risk - DL issues. If you look at most DL stocks (or ex stocks) there has been a very marked decline over the last 3 months, all together. Even REM, which has had incredibly solid 0.8p support since seemingly forever, has now broken thru that barrier and continues to slide down (currently in the mid 0.6ps). Look at the 3 month REM chart - horrific. And that's me as a long time REM holder speaking remember. This set of slides all started coincident with appalling PR coverage of the LGC IPO, specifically some eye-watering corporate greed where the musketeers awarded themselves about 30% of the company at 0.01p per share just a few days before raising "initial seed capital" from new shareholders at 2p. And without telling them that it wasn't either initial seed nor the size and cost of the wad they'd awarded themselves up front. This was them showing greed and hubris that turned the stomach of even the most DL-tolerant investor such as myself; they thought they could walk on water but have stepped over one line too far in my opinion. And are now reaping the consequences of that. As a result people have been voting with their feet and the "DL premium" we've been used to (e.g. that REM trades at a premium to the sum of its part, mainly BCN) is now evaporating. Here at EVO there's been almost no attempt to do any PR by DL (e.g. on twitter), very little volume, and its quickly become an illiquid stock with no interest and a rapidly slipping SP.

Hi risk, long time no chat. "I think the sooner we can get the 3 muskateers voted off the board and replaced by someone a little more fair with the fees they earn then all the better. " - agreed but zero chance of that. Who's going to boot them off and take over the shell? No precedent for this for a DL company (as much as I would wish that). "The current investments do not need much more than a little admin, with cash burn reduced significantly the listing begins to have value and the investments may well begin to hold value early next year as HH plans develop." - this is an AIM investing company and as such it incurs much higher fixed costs than a standard listing shell (e.g. FBDU, which has got annual costs down to around £70k). There are NOMAD and listing fees and stuff, all of which rack up the costs. Even if the 3 musketeers decided to work pro bono (oh look, is that a pig trying to land at Monaco airport?!?!) then you'd still be looking at > £150kpa plc costs. There's no way the EVO costs for BoD and plc costs will be less than £250k for 2016, even with a fair wind. That wouldn't have been an issue if the mcap was higher - a £250k fundraising on a £2.5m mcap company is ~ 10% dilution and arguably tolerable. The issue for EVO now (as opposed to 6 months ago) is that the recent SP slide has meant that the cost of capital is now much higher - i.e. they will have to issue many, many more shares to raise £250k. Let's do some maths. 725m EVO shares. Using my pessimistic 0.05p placing price as an example and the need to raise £250k to pay the bills absolute minimum, you're talking about issuing 500m shares to raise that paltry sum. That's nearly doubling the shares in issue and would still be valuing the company at £660k mcap post placing (assuming the usual effect of the SP falling to the placing price occurs). So not only have you see the SP decline because of the discount, there is a double whammy that you'll have given up half your exposure to HH/Brazil/Noricum via the dilutive effect. I would have serious concerns as to whether they could get any placing away tbh, given how illiquid it is and how fast the SP is sliding (although if DL has one skill, it's getting people to pony up for placings). We complain that DL pumps stock prior to placings but that is absolutely what he has to do - otherwise the degree of dilution for existing shareholders is much higher. However his ability (indeed, inclination) to pump EVO has disappeared it seems. The result is a really nasty situation where the running costs of the company are a significant fraction of the total mcap. The laws of physics aren't going to change - and unless the Sp has a major rally the necessary capital raise will be very painful for current shareholders both with regard to the immediate SP hit from a discount placing, and longer term with regard to reducing their share of the u