Member Info for PI100

“ I don't agree with the statements that government had deep pockets and thats the reason ncyt caved.”

Is this serious? They literally have infinite money. And they’ve now found the magic money tree 4 weeks ahead of the election so it’s raining £50 noted in Toryland

Agree about the last point, swag. The dhsc will have the best legal team money can buy, whereas ncyt are a small time bunch of clowns with far more money then sense so likely got shafted there as well. £3.6m before this year so easily over £4m in legal costs - if they’d gone to court, won and dhsc appealed, it could have gone on for years and another £4m. The government waste our money like it’s going out of fashion so they’d have kept it going for years and years, it didn’t matter to them as they have no shareholders to satisfy, no market to talk to and no accountability or finite resources. £5m probably heats rishi sunaks swimming pool for a few years - these people have no value of money

Exmex, that has nothing to do with the cash balance.

Provision no longer needed so there’ll be a debit to the balance sheet to clear it and credit to the P&L. Absolutely no impact on cash whatsoever.

Val, it’s a different board now. And shareholders have had chance to boot out JW at the very least but twice overwhelmingly kept him in. It’s corrupt as the day is long.

They lied. They lied about £100m organic revenue then laughed at us. They lied about having strong grounds.

Total scam

Swag, it's horrendous. When Prince Andrew settled £12-13m to his accuser, most people looked and thought 'he's guilty', so caving in and paying millions to the claimant is not a good look, albeit ncyt did not technically 'lose' the case.

What's your average?

I've invested so much time into this over 3 years I feel compelled to take a cursory glance at what happens from time to time, but feel completely happy with my decision to get out. It has literally all been downhill since late 2021.

I’m still looking for answers, HC. I’m not really interested in what you have to say, if I’m honest, as I don’t trust you one bit. Please green bin me.

Across 2021, 2022 and 2023 dispute costs amounted to £3.6m, plus whatever we pay this year. No wonder the lawyers wanted to take it all the way to court, they saw us coming a mile off. Given the meek ending, are you seriously telling me that settlement couldn't have been reached sooner?

Yeah, I came to terms a long while ago but until you hit the button to sell all the true feeling doesn't really hit. Yeah, I expect a few days of drops to bring it down to around the projected cash balance and then it may settle until either director buys lol and an uptick or they issue a trading update and it'll tank again.

Covid was an aberration, it's back where it belongs as a tiny company but with cash in the bank so at least has a couple of years before needing to raise cash.

moniman - i could have got out at almost 5 quid in nov 2021 - i'm a ******* idiot in that regard!!!

There is no cash to be returned in this regard. Cash is an asset, provisions are liabilities. This will merely reduce the total liabilities, not increase the cash balance.

Itsawrap - correct, it's an accounting adjustment. What EX said is incorrect, the cash won't just magically reappear, but the balance sheet will be a bit lighter on liabilities.

Kaeren that's probably the most sensible, reasoned post I've seen all morning.

I'm the king of overreactions but even though I am out do want the dust to settle and to see how this pans out. Surely anyone senior who was involved at the time has to go, but this is AIM so it's the wild west. We all bought in to the lovely 'oh this little company is doing their bit for the public in a crisis' as well as the rapid gains, but ultimately it was being run by shysters looking for, and achieving, a quick pay day.

JM is unsurprisingly out of the door, good riddance.

LR couldn't have worked this better, you have to give him that. He can wash his hands of of the dispute as it had nothing to do with him, start with the company on its knees and look to get a relatively quick spike to hit the LTIP before exiting. How they stem the losses quickly is the biggest challenge though as operationally the company is woeful.

It truly is a lesson about AIM, greed, corruption and self interest.

Ok fine but it’s not a good look, is it? A lot of the cash we had was based on dodgy products. Did we sell those to anyone else?

Is no one concerned that agreeing to pay £5m is an admission of guilt, albeit a lesser one? Why did we not stand out ground and say we will walk away but not paying a penny? Feels like DHSC did that just as a final poke in the eye. They’ll waste that in 15 minutes.

Feels like the lawyers have done us like a kipper. They knew there was no case but saw the money rolling in, convinced the board we could win and just dragged it out.

Lawyers saw our cash pile and an incompetent board and thought every day is Christmas

thanks and you. pain in the **** because i hate losing. but the **** i’ve had thrown at me here is a joke, given how right i’ve been about a lot. and wrong about a lot of course.

i just can’t get over this dispute. 3 years in the making and they just shake hands and say here’s 5m. if they were willing to give in like that, why not offer this settlement sooner. and continual lies about having a strong case.

I know there won’t be but is there any case for going after him and dyer, given that the SP was falsely ramped based on the contract which never got fully paid in the end?

I assume not as its aim casino

Amers, I don’t care. This has plagued me for years. I’ve handled it poorly all the way through so I wouldn’t be surprised if it did start to tick up now. Even this morning I played it awfully.

It’s done now and I can move on.

I wonder if a director will actually buy now. Absolute snakes they knew this was coming yet continued to tell us they felt we had a strong case to defend.

AIM snakes

In one final disaster I cancelled my order at 67p as on open things looked ok. Then it tanked. All out now. When the trades show, 1574 sell is mine and I’m out of this hell.

Good luck to any genuine holders.