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Relatively heavy trading this morning. I think there is the whiff of capitulation in the air. If the share price falls to 7p today then the market cap. Is not far behind at £75 million. That is only just above debt at £30 million. Admittedly the debt is not due for a year or two but when the twain meet it is goodnight vienna. Mr Parsons said, at the FSC he liked to see his directors buying shares. Gives him someone else to laugh at. In it to the end.

Interesting that the share price is below the placing price even allowing for 10% discount of costs for arrangement. Is it really only 1 week or less since the RNS. 20% share price fall. Imagine trying to arrange a second, larger placing later in the year. And what the share price would be then? There are no second chances here. Sell is the only option. I remember MrJJ having to sit down on the steps of the BB video. Has he got the energy for the selling process? Looked like someone who was wishing this was all over.

ignore the share price for a moment and Sound is becoming interesting. It is a pure play on the ability of Mr Parsons. Under the microscope James. Can be find a buyer? Has all the bluster of the last few years been simple hot air? Have investors been led up the garden path? Waiting upon the result of the exploration of the marketing of the Eastern Morocco portfolio is going to be the same as waiting for the result of the Te10 drill result. If there is an acceptable offer, an offer that is recommended by the company, then that is success. All else is failure. Exciting times.

Sound cannot just drill the paleozoic. Something has to be done with the assets. It is all about selling the Eastern Morocco portfolio. If, by chance, it cannot be sold, the Te5 horst has to be taken to FID. That involves a different approach by Sound, something that is not in the DNA. Maybe a partner needs to be found to take the horst to production. It will take time. Not something Mr Parsons will want to hang around for according to his past presentations. Maybe the partner wouldn't want him to hang around either.

Nonsense it may be. But look at the timeline. Six months to end of this year exploring the marketing of the Eastern Morocco portfolio. Then six months to drill and (un)prove Te11. Following six months again to market what they've got. And 2021 is upon us and €28.8 million to find. Easy peasy.

It is irrelevant as to whether Te11 is drilled or not or whether there are enough funds. The Te5 horst needs to be sold. If Te11 is drilled and is successful the horst would still need to be sold to pay off debt (€28.8 million) in 2021. If Te11 is drilled and is unsuccessful the horst would still need to be sold to pay off debt (€28.8 million) in 2021. There's only one game in town. The ability to sell the horst. And that is the be all and end all for Mr Parsons. The debt clock is well and truly ticking.

This share is great. The best value for money available today. This share is going to 10 bag from here. JP has the Midas touch. Hope on to your golden tickets I think someone has just lit the touch papar. I can feel the electricity in the air. Who's that coming over the hill. I think it is the large institutions. There is a wall of money waiting to come in from China. Rothschild don't rub shoulders with second strings. Consider me back on message.

Mr JTF, a long fact filed post as usual. You have all the traits of a budding Mr Parsons with your morale boosting speeches. I hope you don't entice any naive investors into Sound. This is now a penny share. Not a place for widows and orphans. The plight of the company is self evident. There is no tree shake. No market maker games. No letting mates get in at bargain prices before the imminent liquidation event. Even the phrase " liquidation event" is now redundant. No event. Just contiual, gradual decline.

that with the share price at 9p people think Sound is nearer suspension and a takeover/ offer rather than suspension and going belly up. A failure to sell the Eastern Morocco portfolio will devalue the asset as well as that of Sidi Moktar. The latter is what the €28.8 million debt was issued against. I think Mr JJ said in the FSC that 40 million shares were issued to buy Sidi and if that is correct, at 9p, Sidi has a nominal value of £3.6 million. If the bond holders take fright they might want to renegotiate that debt. Sound has no income. Would it be able to raise that money. Just to stand still. Exciting times.

If a buyer was seriously interested they would not wait for the money to run out because it would be a lottery as to whether he would be able to buy the assets of the company. A bidding war can occur quite readily when a company is in the hands of the receiver/ administrator. The same value attribution would still apply. So if the bidder was a professional outfit security of result would mean he would want to bid in the next 6 months. A viable future pathway should be important to the company. Security counts. Good companies don't gamble.

Trump in the White House, Boris as leader of the Tories, and WhatWhatWhat being right about his 7p. There are some things I will forgive God and James for. But making me stoop so low that I ask Gaspunter for investment advice, that is unforgivable.

PS there was a time when your name would come before God, James. How the almighty have fallen.

Ziggy darling, why not hand the account and logging in details to Mr Parsons?

What's going on here? The wheels are coming off by the day. The management are "exploring" the marketing of the Eastern Morocco portfolio. Words are important. We know how risky exploration is. Anyone got a formula for the chance of success? It is estimated to take the rest of the year, six months. There is no appetite to drill. Yet the drilling team is in place. There is no money to drill. Yet cash has just been raised. No selling. No drilling. Is the company dead in all but name? A zombie company. A zombie company without an income. A zombie company without an income but with large overheads. How long can it last? Zombies are scary. Get back under the duvet.

Don't worry about the share price. The daily movement is all noise. It is the liquidation event that matters. Exciting times.

'moronisy' Mr Crudehope, I would have thought you'd be into Damon Albarn.

It's not until 24th June that these shares are admitted to the SE so the "flipping" in the article couldn't have started yet.

Last year staff costs, 2017 in brackets

Share based payment 2802000 (2486000)
Wages and Salaries. 6317000 (5912000)
Social Sec. Costs. 664000 ( 646000)
Employee benefits. 362000 ( 182000)

Staff Numbers

Technical and operational. 14 (2018). 18 (2017)
Management and Admin. 18 (2018). 23 (2017)

Reducing Man and Admin now by 27% per to no reduction in costs. I presume a lot of the tech team will remain. All the staff reductions last year led to rises in costs in all categories.

Went to the horst races the other day. Got there early for the first race. The Mirror tipster " Mooncheese" had tipped a certainty at 65/1. Had a look at it in the paddock. Some punter behind me said it was a beautifully bred Arab worth billions. I had seen this guy in the car park and remembered he had a fancy numberplate. Decided to put a bet on and noticed one bookie had the horst at 10/1. Gave him my money and he gave me a golden ticket. Lucky Jim! He shook my hand and said I was going to be in the money. I watched the money pour in for the horst. A young lad showed me a few videos on his phone of the horst in action. Number plate guy said he had been out to the stables to see the horst train.The odds came in to 5/1 and fell rapidly to 5/2. Lucky Jim now had an assistant who handled the money. He mentioned that the rich guys in the hospitality tents will be betting soon and the price will fall further. I went to the rails to look at the horst. The jockey looked overweight but all the chatter was he was too good for the horst. Back to put another get on before it was too late. One guy was shirtless but insisted on emptying pockets into the bookies bag. I hoped he would at least win his shirt back. The race was run. The horst was a no show. One bit of good news Lucky Jim had got the horst a stall in the next race. The starting price was odds on. Again no show. I stayed at the rails but could hear the bookie saying he could get the horst in the next race so give him your money. I don't know if anyone was buying it. The rich people and their money had stayed in the hospitality tents all along. My attention was drawn to the Sound of a collapsing horst. The fat jockey was sat atop muttering " I'm not too sure what's down there". I could still hear Lucky Jim enticing the punters in but I knew he was flogging a dead horst.

Your criticism does damage to my heart. I thank you for outing me as a ramper. Others have put me in room 101 for quite the opposite. Wounded though I am I can still find the strength to warn you against the ploy of doubling down on your losses. In doing so you have turned your investment into a gamble. Ramping or deramping do not enter into that sphere. The good thing about horse racing is that you know the odds before the race begins. With Sound you do not appear to do so. You may get back your initial penny but you are gambling a fortune to do just that. Was that your initial intention when you first invested in Sound?

The raise yesterday covers on going salary commitments. There are no other funds. This is a company that took 6 months to drill and assess one well, that took three months to obtain coiled tubing. Delay is in the DNA of this company. What unpaid bills could be delayed until after 14th May? Was there an update about funds in the RNS yesterday?