Member Info for Pocko

Needs a calculator for Christmas... This deal means investors lose a lot (dilution and devaluation) to gain a little (New equity issued at a discount). Assuming of course you participate.

And this fundraise won't be the last.

Its not rocket science, but whatever works in her little world.

I wouldn't expect him to divulge anything. And I'm sure the investment in Vardar was made with good intentions - I'm equally sure that he knows that should the books be opened up, it would be unpalatable to investors, meaning intense scrutiny. He only gets a gentle chiding on this bulletin board.

And lets face it, Vardar and Grafintec are likely to be the only source of news in the next few months.

I have done previously... He won't disclose anything.

Budge isnt saying though, is he? And Vardar is under no legal obligation to publish detailed accounts.

Getting the YTS lad to do a few fly-bys with his drone that his Granny have him for Christmas doesn't constitute great value or exploration in my humble opinion

Where has the money gone?

And try selling Vardar on the market for £15m... A serious investor wouldn't touch it.

Budge should have either invested in our own startup, or purchased a distressed business to generate some cash flow. Its not rocket science.

Yes EricDraven, it's been variable. That figure is based on the last 'investment'. Either way, it roughly values Vardar at £15m

Budge paid £250k for 1.6% of the company.

RNS dated 12th January 2023

At that rate, 'investing' roughly £156k per 1% of the company, by the time BEM owns it outright, he will need to splurge another £6m.

Let that sink in.

There's another 38% of Vardar for Budge to buy EricDraven... That will be a few million at least.

Hilarious stuff... The value of your existing holding plummets, The rights issue allows you to spend a few quid, but it's a good deal? PMSL...

Yes EricDraven... £3.5m spent on Vardar that we wouldn't have needed to raise. That's a lot of shares at 0.02p.

That's a lot of cash for a few battered 4x4 vehicles, a porta cabin and a few dodgy 'state of the art' test results.

And the prevailing view seems to be that investors will be rewarded?

AIM is littered with companies, all with great assets, and at the point of realisation, private investors get royally screwed.

Sirius Minerals being a prime example.

Because there 'should' still be one big payday left in it. But it's wholly mismanaged.

And not that it matters, as I could post anything, but I run my own LTD company, so I'm fully aware of the sort of shenanigans Budge and his university mate could be pulling in Kosovo - With our money and no accountability

And check my posting history... 12-long years of largely supportive, but sometime critical posting.

I'm very much invested EricDraven, and have managed to take profit at various stages. But that does not detract from the poor performance of the company. The CEO sits at the top of the tree, and should take responsibility.

Swedish investors don't give a damn about Kosovo or Finland, and Budge himself has stated that the reason for the dual listing in Sweden is due to Kallak. And if you look at their FB pages and discord, they've largely given up too. There is no interest because he's repeatedly failed to deliver.

Budge has even managed to spread the financial love to PrimaryBid who will take a small bite if the cherry, but not his actual investors?

And to confirm, this is an open offer to new investors too, which is why PrimaryBid are involved. That's how confident he is in UK based investors.

So Modelio Equity AB make money, Budge and his cadre are well renumerated, as is his ex-university mate running Vardar. But your not?

All is not 'rosey in the garden' is it?

Your invested to make money are you not?

Modelio Equity AB are involved again, as they were in 2020. Ask yourself why? Because they made money... Lots of it.

And there you have it EricDraven...

Its easy spending other people's money.