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LMOL @Iceman888
So you chuck £15k in to try another pump attempt with "why wait to buy" messages, and oh gawd no doubt more "i'm buying more messages" - even some of my ramps were not that bloody obvious.
God loves a trier that's for sure...
Still best to have a go now if you can sucker a few in before the penny placing. Good luck to you
I would suspect three months notice paid but could be more as she is CEO. As it stands she could hold on a lot longer, let’s face it she is hardly going to rush to find her own replacement
Meanwhile, why in God’s name Adrian withdrew the Requisition notice is beyond me, we could have at least offloaded both Kevin Cox and Martian Lampshire end of this month - as it stands it looks like we are stuck with them both.
Yes and if focus had been on cancer drug dev rather than a Poxy lab start up just to maintain salary and bonus benefits for the board as an ongoing lifestyle business I might agree with you. The handling of 201 a specific example of how bad the management has been.
A p poor director does not wake up the next day and suddenly become a good one. Sorry but until the board changes happen my view remains this is uninvestable. And the longer it takes the worse it will get.
The best out come here is to clear the deck, remove the deadwood have a new board with focus on what matters, reduce cash burn back to under £1.5m and have this in situ ready for H2. At that point the new BOD with that vision could raise and drive it forwards.
If that doesn’t happen and all the current BOD drainers remain this will either close completely as it won’t secure further shareholder capital to continue or Suzy will secure death spiral finance to extend it that bit longer and then it will close completely.
@HD
Utter nonsense - The BOD and ONLY the BOD are culpable for the current state of this penny share due to the past history of dire decisions made. They have run it into the ground.
There is however a chink of light, should the appropriate board changes get sorted ready for H2. Until then the stock remains uninvestable but there is always hope the changes will come in time to avoid a Redx situation.
@Ratcliffewriter
Loved your Norwegian Blue analogy to 201 - classic, lol.
Owner: Oh yes, the, uh, the Norwegian Blue...What's,uh...What's wrong with it?
Mr. Praline: I'll tell you what's wrong with it, my lad. 'E's dead, that's what's wrong with it!
Owner: No, no, 'e's uh,...he's resting.
Mr. Praline: Look, matey, I know a dead parrot when I see one, and I'm looking at one right now.
Owner: No no he's not dead, he's, he's restin'! Remarkable bird, the Norwegian Blue, idn'it, ay? Beautiful plumage!
Not sure how they can TALK their way out of this at the presentation.
They have lost £1.8m of cash to generate £300k of sales, that's less revenue than my local Subway sandwich bar takes!!!
Trying to work out how they have lost so much business over the last 18mths, non returning and clearly clients not paying them for their services.
TALK is cheap, Delivery of results is KING.
Also i still have concern that a order taken does not result in a paying invoice until materials are delivered to work on, if the client doesn't deliver the materials is there a time limit to do so?? IF not they could have orders hanging for years - is that an issue?
Broker note from Turner Pope today confirms cash runway into new FY. That tells me as the New FY kicks off 1/7/24 they will be working on a further discounted placing shortly, can't see how it can be avoided now.
Even a major win today would not result in cash landing in time.
Good luck if you are running with this one.
Penny placing in July - watch this space - A new BOD will need capital to turn this around.
BUT that is ONLY if the new BOD is formed, dead wood cleared out and all in position for end of June ready for H2 from 1/7 - i'm waiting to see how this unfolds. For now the stock remains uninvestable.
IF current BOD remains and that is still a MAJOR concern, expect more of the same. Either will run out of cash in July and wont be supported for a further equity raise or Suzy will take on death spiral finance from Sanderson, which could be her plan and why Suzy has them as a TR1 holder maybe?
Current concern is why Adrian let Kevin and Martin off the hook by withdrawing the Requisition notice. I don't think there is a shareholder or investor ANYWHERE that wouldn't want to vote these two off the BOD as priority. Early mistakes never bode well IMO.
Not really
A number of us were well ahead of the game being played out here and to be fair although she played a blinder getting the stock sold into for the placing ultimately, the game is up. She's not so smart now.
You can only fool some of the people some of the time.
What counts now is what the BOD looks like going into H2 - this business lives or dies depending on what that looks like.
Hmm it does stink that the VERY late reported TR1 was from a holder of nearly a quarter of the stock sold down to 7%. What do they know?
Based on current activity it looks like they are working to dump the rest?
@jimbogains
Don't follow your logic.
Thx is and still remains a potless start up. In the unlikely event that it merged with EUDA it would still need to go and try and raise funds on the Nasdaq as a new legal entity. It’s not going to happen in one week is it.
Meanwhile, EUDA trades on VERY thin volume. It’s SP has collapsed from 10 usd to under 2 usd it needs a multi fold increase for investors get money back. There was 63k of volume on it Friday, it’s really not worth talking about. Unless you hold the stock not sure why anyone cares about its Share Price.
The best thing that can happen here is for Suzy, Kevin and Gerry to be removed from the BOD but on the basis that the requisition notice was withdrawn, SH have been denied the opportunity to remove at least two of the dead wood. Annoying.
I await to see what if any changes come but as it stands all that has happened is we now have four more mouths to feed (2 NEDs supporting Suzy + 2 from the requisition backers) helping burn the cash that bit quicker.
Why the requisition notice was withdrawn is beyond me.
@PM2022
yeah and penny placing in July, highly likely, reduces your investment by another 75% from here.
AT 4p this is VERY expensive based on the current BODs expensive cash burn decisions
This situation can only change and improve once the dead wood is removed and new BOD in situ.
Meanwhile traders will continue to play with it whilst it remains totally uninvestable
1. SP of EUDA over a year is down from 10 USD to 1.60 USD. It has to remain over 1.45 USD otherwise it gets delisted. It’s bouncing around that price on VERY low volume by traders.
2 The evaluation period of the merger finished last year and was not nor did they mention in the subsequent update that talks were ongoing, they don’t need to advise the market further.
3. Confidence in the BOD regarding the handling of 201 is shot due to the appalling way it’s been handled. I’m not even going to list all the blunders, it’s been covered to death.
4. granted that THX would benefit merging with EUDA but EUDA could find a much better suitor. It’s been discussed to death; even as a merged entity THX would need to go on and try and raise cash with no guarantees. Any new legal entity created would need to renegotiate terms regarding the LOI from back in 2021 anyhow and finally as again already discussed the tech from 201 now being over 15 years old has likely been superseded anyhow not to mention it needs reformulating and a new patent as the last set of patents expired last year.
As per usual @PM2022 you are posting utter cack
@Andysel
Thanks - OK lets see how events unfold and what the BOD looks like going onto H2
I hear you regarding voting on new BOD additions at the AGM and that part is fair enough but, i think most of the frustration here is that for this stock to ever have any chance of recovery the current BOD MUST be removed, ie Suzy, Kevin, Martin and Gerry MUST all go and it doesn't feel like that will be a reality as it stands.
By withdrawing the Requisition Notice it has enabled two of them straight away namely Kevin and Martin to avoid being voted to be removed. I'm also not convinced how "active" Suzy will be in looking for a replacement CEO for her but lets see.
Only true thing @PM2022 you have posted .”401 and 201 have already been given away” too true they have, one to a potless start up that has failed to deliver at every turn and one to a potless phoenix business trying to raise cash to keep itself going.
Some of her commercial decisions have been absolutely shocking that’s why @ValJu you need a CEO with strong business commercial acumen to drive this, leave scientists to do science work.
Don’t mix chickens with foxes
@TDK
She is not going anywhere just a rebadge and continue on the BOD as before. And following yesterday’s RNS neither is Kevin, Martin and Gerry. They will continue to milk this cow for all it’s worth until death spiral finance is introduced through to lights out.
All that has been achieved is four more NEDs have been introduced, two from Suzy and two from the Requisition notice issuers team. Four more mouths to feed to help burn through the remaining cash runway quicker.
Totally Pointless chain of events as it stands
Don’t have sufficient data on this one.
So they are managing debt levels at 16% interest rates out of future revenues but there is a stock conversion clause? Anyone care to enlighten me what happens if they default or can’t pay the loan back does it convert at discount to the SP at the time?
Thanks