RE: JWallows6 Nov 2023 03:44
@DarthInvestor
I would say not, None of the BOD have enough skin in the game as they don't own sufficient stock. The SP is irrelevant to them except for only now pre placing. IMO the objective being to ramp the SP to 14p try for placing at 7p, get it to 16p and try for 8p. BUT the Turner Pope clients will have none of it, too much Jam tomorrow and little confidence THX can ever raise cash. Hence my 4p, 20m shares to raise £800k being best outcome here.
Punters are expecting the new created stateside entity following a merger of EUDA and THX to confirm it has 60m+ plus raised ready to distribute to satisfy LOIs and moreover pay VAL to stave off a placing. We have been reading for the three weeks now:-
"Money is Raised, that's OVER now" "Funds are being released on the merger as they were contingent on the NASDAQ listing" "Rapid transfer of cash to safeguard the assets" "Funds being released to VAL are in 7 figures" "$2,571,049 as an example is 7 figures" "Cash was raised of $60,000,000 and will be $70,380,000 if the over-allotment option is exercised in full" "The investment consortium will release the capital to the new listed entity on completion of the merger" "TheoremRX have collated an eye watering sum of private capital"
So that's what the bets were placed on, lets see the delivery.
RNS of merge should confirm same, if the merger RNS doesn't confirm they have over $60m cash ready to deploy, then we know its yet more BS and the SP is toast, we will be back to 5p where it came from. The outcome of this bet is binary either the new created company will have over $60m of cash to deploy as indicated or it wont.
As the deadline was Saturday, expecting some RNS from VAL at open confirming the same and that THX funds are being paid over. Time will tell. I don't believe any of it myself as you all know but hopefully i'm proved wrong. Good luck.