Member Info for Punter21

Spot on StayLong. Which is why I took more in the placing.

404- your assertion that there is nothing that the company can do. I did explain my point I thought?

404X - well, yes and no. It's all down to a negotiation. Just as you cannot force people to agree to have their shares subject to a lock in (such as happens at an IPO) ultimately it is what ever the two parties agree to. Xviolet asks who would take it. The answer is institutions to gain a block and everyone else to clear an overhang.

StayLong- I find it bizarre that we have not been informed as to the settlement (if any) with Boughtwood. I remember saying at the time he should be stripped of any options he holds. His shares should have been subject to either lock-in in or sale via the company broker on an as-bid basis. Nothing else. This clearly didnt happen. I find it similarly bizarre that the directors haven't arranged a placing, with their participation, of his stock. Either route would have stopped the rot. We have been left with the worst of both worlds with the shareholders paying the price. As to the FCA, we can but hope, but experience tells me that they are unlikely to be of any help. To anyone.

We have to assume that this ongoing selling is Boughtwood. Surely the broker / company can arrange a bid for their remaining stock?

Hyper - nonsense. The drop was a reflection of the 30mm + shares forced onto the market in the first hour of trading. The RNS didnt come out until 9.22. I'm sure they would have preferred to have released it at the normal 7.00am tomorrow but the price move forced their hand. The seller is still out there. We have to consider it Boughtwood. As to MANDJ's comment on the size of the raise, there is a limit to the percentage of the issued share capital that can be sold without a prospectus in any one year. Clearly he is unaware of that. I am a buyer of the placing shares.

StayLong - not at all. I havent sold a single share - and in fact have added. See my earlier post. My intention is not negative ; it isnt in my interest to be so! BUT, I do not appreciate lies, inaccuracy or ramping nonsense. There are none so blind etc.....

I pointed out the reality of the company's "JVs" which are not there. Yet.

Harley, not at all! In fact trades 4 and 5 on Friday were both me- purchases in a small way. I am hugely motivated for DGI to succeed I can assure you! But let's stick to facts not hyperbole.

Thanks Lion. To be accurate there are not two JVs as you mention. There is an MOU with EVage and there is nothing with Cummins other than they have historically worked with Meritor on uk government funded technology development projects. Cummins have a DGI prototype motor for testing. That is all. We all hope that both the MOU and the testing turn into contractual agreements leading to orders and cash generation. Sometime soon.

Truth, do you have a breakdown for monthly burn? I am concerned that a good chunk of the cost is directors salaries which would make a mockery of what was paid for the initial 29% stake bought from Boughtwood et al. It could easily have been recouped from salaries to date if my crude calculations are anywhere near correct.

Moomins nonsense. do you honestly believe that the shares haven't already been sold?

Mikee that only works if you are short, or have no position, like you.

Be under no illusion. He calls the shots. Not her. Todays dumping of stock is most likely them. But we won’t know as they are now below 3%.

What I find astonishing is that the directors clearly did not agree with her / Martin Boughtwood her husband, to control any sales by them as part of his contract termination discussions. In the absence of positive news this stock could well freefall as they offload 3% of the company at any price. The past two days might just be the start.

That is what is says. However, her shares are held in a trust - read the prospectus - for tax purposes. However, maybe the accountants amongst us can explain how transferring stock out of a trust, allegedly for tax purposes, in any way makes sense! Ask yourself what has happened to those shares. And now the trust is below 3% she can continue selling without any RNS requirements.....

Lionsworld, I can 100% categorically assure you that they are short of cash.

And there you have it. .... We still do not know what the settlement with Boughtwood was but we can assume that it didn't involve any agreement to hold onto shares! Farcical where the inventor of the technology is showing the way with his continued sales.

Lionsworld. Ultimately it is cash that pays the bills. Yes, you can finesse a balance sheet with capitalised costs but that only works if there is sufficient runway to reach a point when those capitalised costs have a real value. Many a company has gone bust with huge capitalised costs, but zero cash. To raise cash these guys are going to have to start pulling rabbits out of hats, without which it could soon become another casualty of having the best technology still in development but no finished product to sell, irrespective of whether the market wants it or not.

I'm unsure about the gigafactory aspiration. Let's remember, they have an anode, not a battery. AMTE was hoping to produce batteries in volume. Not quite the same thing. I believe a licensing deal (which was the hope with their working with AMTE whilst they were around)or a JV with a large/r battery company is far more likely. Northvolt, whilst having issues of its own presently, was formed by ex Tesla executives. Anyway, a meaningful update is long overdue. Whether it is by way of fundraise, Indian JV, Cummins, MOD -anything really! Otherwise, with the continual selling of stock, which seems neverending (is Boughtwood up to his old tricks again?) loyal shareholders might decide to join them......

The two are chalk and cheese.