----Fund Raise shenanigans17 Apr 2024 19:51
---- I want to take a close look at this latest fund raise, and I think it may be important to look at the previous one first and see if there are any similarities.
---- When i looked at the FR in Jan, the first thing that stood out, was that it was not a placing, but rather it was a Subscription----a difference just in wording ?---no, in my opinion it was more of a money lending exercise from an outfit called Clear Capital Management.
-On paper it looked like they had BOUGHT 30,3 mill shares at 1.65p for £500/-, but did they.?
-They NEVER appeared on the large shareholder list, even though it looked like they had "bought" 12.5% of the company----so what really happened ?
-Well my guess (and this really is just my opinion) is that CCM lent GCM £500/- in exchange for 30.3 mill shares, which CCM then sold on to "clients" and into the mkt,( at anywhere between 1.9p and 2.2p), in order to recoup their outlay.----I was tallying the sales all along, and sure enough, when those sales totalled £500/- , the selling stopped and the SP moved up all the way from 2.2p tp 10p
-What was in it for CCM i hear you ask----well they managed to recoup their outlay by selling around 25 mill shares, so they finished up with 5 mill shares for free (or they could have sold out completely and made £100/- or 20% profit over less than 1 month)----not bad at all.
--The shares finished up in Client (ii's ?) and our PI's hands.
----Think im wrong ?
-Then look at the large shareholders list on GCM web site---you wont find them there with that 12.5% holding---they are not there and in fact they never have been, not even from the admission date of the new shares---not a mention.
-----Now that doesn't sound right to me----but there is something even more alarming.
----Clear Capital Management seem to have been air brushed out of GCM's history all together.
-Go back on all the fund raise RNS's and you wont find one mention of CCM in any one of them-----they were there when the RNS's came out ---but they are not there now----the RNS's have been altered (don't think that is allowed , is it ?), and all mention of CCM has been removed.
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-Anyway---lets come back to this current fund raise.
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-Is it going down the same rout---my personal opinion is,--- yes it is
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-It's another Subscription, again not a placing----so i'm looking to see if we are in for the same ride.
-Will this latest 30 mill shares now be passed on to "clients" and also fed into the mkt for us PI's to consume------
--------WHATCH THE VOLUMES
-If i'm right then we have to start adding up the large sales volume again-----with the sp static i'm assuming 59% of daily turnover is sales and 50% is buys
-so at the moment i think they have shifted about 9 mill shares, and if they are following the same route as before, then they will need to sell about 25 of the 30 mill before they get their money back---should take maybe about a week----lets see.
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