RE: Scot Palmer is a ***** , but he is correct01 Oct 2019 00:30
It is over. The RNS is telling you Hercules is taking everything. They should make that more plain but that's this BOD for you, but you have two possible outcomes: 0p or 99.9% dilution from current levels. The equity is worthless. IMO it is inevitable this will delist before the end of the year. Potentially it could 0 next week given cash is 370k USD and the burn rate is 2m USD per month.
6 June RNS: "The Company believes the current cash position can support continued operations into September 2019 with diligent cash management. "
Into, but not out of September. Now that was an estimate in June. It is conceivable that on 1 October they will not have suspended the shares, a lot of that depends on Hercules. But we are surely talking days, not weeks and certainly not months, before the shares are suspended without some injection of funds.
Hercules are playing ball because if they pull the plug, they win and PIs lose everything. If they wait and it goes bust - same result. Either way, Hercules are getting all of this company.
No positive or holding Monday RNS tomorrow is really time to sjit yourself as a PI and sell whilst you can. There must SURELY have been frantic meetings over the weekend at Motif. By my reckoning is completely out of cash by now, if there's nothing on the cards with a lender is going to be suspended this week.
No logical way for a drop? Other than the company is still at the mercy of its Lender and can't afford its loan payments? And its running out of cash? Still no update from the company on the exact cash position, last figure we had was 31 May. Time for an update, Lumsden.
RE: Shorters coming out of hiding,28 Aug 2019 21:36
Guess we'll find out whether or not Hercules pull the plug on Friday or Monday. No news by COB Monday on an extension is :S :S :S. Either way they get everything and shareholders get 0p whether they do it now or wait for admin.