The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
The delay in finalising the proposed takeover, then publishing the AIM readmission document and now this loan facility (certainly not really on favourable terms to LSAI) does not give me much confidence in the Company. However, not too bad for all those on the gravy train. It is always the retail investors that will be left behind.
Lawyers. As the saying goes, 95% of them give the other 5% a bad name. :)
I wonder whether there is any scope for LSAI's legacy business or what remains of it to be incorporated in the grand restructuring plan or will it quietly just be shelved.
A company like LSAI, that has been making losses for a number of years, may have value as a turnaround play to a buyer who believes that the business still has potential or wants to take advantage of its incurred tax losses.
The new parent will probably make changes to the target company's business, such as injecting a new enterprise and/or adapting the way it used to operate. If it succeeds, the target company's past losses can be useful in sheltering its new profits. However, if the changes are too radical to the tax authorities, there is a risk that these losses will be lost altogether.
However, Reality Mine seems to me to be the perfect choice and, in my opinion, will satisfy the requirements of HMRC in approving the deal.
I believe they still have to dispose of the 'Verify' part of the business and get right of all remaining staff before it can be considered a proper shell company.
MP Neale Hanvey's question to the Leader of the House today on the growing scandal around the government's apparently deliberate undermining of the UK diagnostics industry.
https://twitter.com/JNHanvey/status/1479057524682895361
Nickmc - I really don't have any insight as to how things may play out and timelines.
First and foremost, we need the CEO & CFO to realise best value for the location verification business. This current business model has been an absolute failure and the sooner it plus existing management are got rid of, the sooner the Company can move on.
https://twitter.com/tima441/status/1475772316386799621?t=VpNrpSxIufq6mYJFQl7HVQ&s=19
What follows is part of a post made by PWhite73 on the Avacta thread on ADVFN.
I for one don't believe Medusa are the slightest bit interested in the Avacta LFT. What I think is happening is that Medusa are savvy enough to realise that with Covid the global healthcare business has expanded and gained prominence beyond anything anybody could have dreamed of and Medusa want a piece of the action not via any healthcare products but via a listing. However they will need a suite of healthcare products to get their prospectus past the FCA.
Rumour has it and its only a rumour mind you that they intend to reverse into Location Sciences if you read the thread here and over on LSE chat.
My hunch is GeoProve was a direct manifestation of Blis falling out with LSAI. That is after it unsuccessfully attempted to acquire the latter's IP and software under what appears to have been dubious circumstances. Thereafter, Blis had to seek another verification provider in order to re-establish an alternative offering to its client base.
Joining up the dots, Matt Teeman, one of GeoProve's founders, was working as a consultant for Blis all through the time of its dispute with LSAI. So, all things considered, it seems somewhat suspicious that Blis was the first to sign up with GeoProve.
https://pressreleases.responsesource.com/news/100808/new-location-verification-solution-geoprove-enters-ad-tech-ecosystem-former/
From the link below, it looks like GeoProve is offering the exact same solution for validating location data that LSAI has done in the past.
https://www.geoprove.io/?page_id=10
Now the question is, has it reinvented the wheel or has it acquired the technology from LSAI? My guess it's the latter but let us see.
Not wishing undue hardship on those staff remaining, the sooner they all go then the Company can start working on its new business model; whatever that may be.
That would be Jared Tilston - the Head of UX. However, he left in December 2020 but has only recently updated his LinkedIn profile.
A company, that has been making a loss for a number of years, may have value as a ‘turnaround play’ to a buyer who believes that the business still has potential. The new parent will probably wish to make changes to the target company’s business, such as introducing new capital or changing the way it operates. If it succeeds, the target company’s past losses will be useful in sheltering its new profits. However, if the changes are too radical, there is a risk that these losses will be lost altogether.
It looks like Proxama has recently recruited Ciro Montagano as its lead data scientist. According to his LinkeIn profile he is a Data Science professional with 7+ years experience in Predictive Analytics, Data Monetization, business applications and operations improvement using data driven approach in a variety of sectors: FinTech, Healthcare, Insurance and Banking. He has experience in cross industry Strategy and Advanced Analytics deliveries and use cases including: • Consumer's profiles, behaviour and insights • Recommendation engines (Next Best Action) and personalization, contact centre • Churn Analytics • Treatment analytics, effectiveness of campaigns: observational data and randomised clinical trials, uplift models • Pricing elasticity models and forecasting • Fraud detection and Analytics • Risk-based pricing, scorecards building
Whilst it will be good to see what Lenigas and Strang can bring to this reorganisation, what the bloody hell is Wither doing here. For someone who presided over massive shareholder destruction whilst drawing an obscene salary, he needs to ride off into the sunset. Not happy.
I wonder who is providing Garmin with its GPS technology for these devices? A missed opportunity or just maybe one of the interested parties in SLG. http://www.ubergizmo.com/2013/09/garmin-forerunner-620-and-220-gps-watches-announced/
http://www.nextgov.com/defense/2013/08/army-plans-buy-193279-rifleman-radios/68939/ Hopefully this will secure short-to-medium term Sarantel's future. Potentially a reason for stopping the wind up process.
Given that Mortazavi and Hennigan each bought shares in excess of £100k earlier this year, I expect they will very keen to preserve their "ill-fated" investments. Remember, both are international chess masters so there may be some grand play in progress. Fingers crossed!
Hi helsbydrome07, I am intrigued by your last post. In pure layman's terms, what exactly does sisting pursuant to s112 and s147 of the Insolvency Act mean? Also, where can I substantiate this development? Thanks in advance.