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There's a chance the company could go into administration after the shares are suspended if there is no sale of the business. It's unlikely the company could get a placing away given the history. Some people are saying the recent RNS was orchestrated in a way to let the larger shareholders exit. It's worth bearing this in mind if you're tempted to buy in before the shares are suspended

I suggest you have a careful read of the last accounts that were published. The cashflow statement shows the company burnt through £1,527,575 in the 6 months to 30 September 2022. That's an annual cash burn rate if over £3million. How much is a company worth that isn't growing and is burning through cash at a rate of £3million per annum and that also has debt of £2.5million plus 11% interest?

The business isn't even growing which is unusual for a small company in this sector. They say there was 9% revenue growth but obviously that just accounts for inflation not actual real growth in the company's business

I did more research. It was hard to find the old RNSs because the company changed its name. I went through the accounts over the weekend to ascertain the rate of cashburn which shows the company will have used up its cash around now after the last reported cash position which was at the end of September 2022. I was a bit shocked to see how quickly the cyber security company burns through cash!!!!

Assynt wasn't a shell business. It provided strategic intelligence mainly to large companies.

It was the division that actually made a profit, whilst the cyber security division has always been a big cash burner. Alk the funds from the Assynt sale have already been burnt by the unprofitable cyber division plus it also had to borrow £2.5million that needs to be repaid. Shareholders didn't see a penny from the sale

$6million to fund exploration on just one of its many projects looks like an excellent result for TYM

I'd be surprised if anyone was willing to pay £1 fir a share that is about to bec suspended as that would suggest an enterprise value of nearly £8million so where would be the upside from that plus there's the risk the shares could be worthless if a sale doesn't proceed

Last report of cash holding was announced on 30 September 2022 and if you look at the accounts the company is very likely to have burned through all its cash by now so that's probably why it is going to be suspended. The company may not have been able to raise fresh funds so it put itself up for sale. Even if a sale goes ahead there is a large amount of loans and interest that has to be paid off so may not be much left over after that

It may not be easy to get a quote to sell later in the week as Friday is the last trading day before it's suspended. I doubt the market makers will won't to have any stock on their books whilst it is suspended

MYX is definitely one to tuck away. Good chance the company will be a takeover target

Sorry for the garbled message as I'm in a bit of a hurry this morning but I think you get my drift

One think that is puzzling me about yesterday's announcement is why a potential sale of the cyber security business means the audited accounts on time. They have already had 6 months to do the work and it can't be a very complicated audit. I don't see why a potential sale means the accounts have to be delayed. Anyone checked with the company on this or have relevant professional knowledge?

The CEO is a wealthy man and has sold tech businesses in the past. He owns over 3% of Falanx and I'm confident he wouldn't sell the business unless its a really good deal for the company

Falanx sold Assynt, the non-core business, for £4.6million so I'd expect them to get at least tht for the main cyber security business

Https://www.perivan.com/resources/news/scheme-document-published-for-the-5-4-million-recommended-cash-offer-by-daisy-corporate-services-for-ecsc-group/

Earlier this year another AIM listed cyber security company was sold for of ECSC £5.4 million. I think it has lower revenues than Falanx and didn't have a penetration testing division which I think makes Falanx a very appealing target

Change the zero in directors to an o to watch the interview

Https://www.direct0rstalkinterviews.com/falanx-group-william-kilmer-says-its-a-bright-future-for-managed-security-video/4121087303

this is the director that has probably arranged the sale. he's very well connected in the industry https://www.***************************/falanx-group-william-kilmer-says-its-a-bright-future-for-managed-security-video/4121087303

there were several director buys last year around 100p so i doubt they would settle for less than that also the large shareholders bought in at a much higher level so wouldn't vote for a sale at a low value

They are looking to get this into production very quickly so there would be absolutely no point in putting out high grades that aren't representative. It's not comparable to a gold project that would take many years to get into production