The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
Mate, it's not confidential stuff. Who cares if it's on a forum? I is not an avid LSE poster. Thought I'd chuck one or two posts in and a few clowns on here jumped on me hence the engagement. I'm a stubborn old fart and don't appreciate being accused hence why I posted some trades prior to prints. I may just disappear now but rest assured the buyers won't. Right back to twitter
I'm telling u fellas there is big money hitting and now you see it. This ain't a group of peasants after a quick 10% flip nor are they in for a short term trade. They're in for a series of liquidity events and multi bags. Anyone who wants to sell be my guest. They'll mop up. Today was a relatively quiet day. We'll have some more fireworks soon I'm sure :)
My man is managing funds for a group of high net worth investors. You obviously don't read properly. I've previously stated they are taking large chunks individually but less than 3%. Since they are not acting in concert there is no obligation to declare
As I said fellas. High net investors moving in, not one but numerous. These guys are from the "Akers" crowd, see AAA, ZOE, DEV. Shares don't go up in straight lines but this one has only one trajectory from here.
Ps. Should get another delayed 250k from today at 9.2p.
FFS lads stop the bickering. For the record there is a serious set of buyers moving in here. Group of
high net worth investors who've made killings In stocks like AAA, DEV and ZOE. The large 100k+ prints you've been seeing over the last couple of weeks have been them in action and some of the large after hour red prints have been worked buys. I know cos one of them has been informing me prior to the trades showing up. They took 1.5m today and you'll see them buying tomorrow again. Fyi, some middle Eastern money is also landing. You fellas can bicker all you want but this is getting driven up. These guys don't do a bag or two, just check their stocks above. Enjoy the ride to 50p+. Over and out
Mark Wayne gonna suck investors dry here and Griffiths wising up to that. Cash burn too high, not profitable and soon a large placement will land. Wonder if the regular rampers on here are on the payroll?
And so having promised us 2018 sales of £7.2 million and an EBITDA profit on January 29, simply to get a bailout placing away on February 8, the ghastly truth now emerges. Westminster’s (WSG) 2018 results are shite and bar an accounting fudge they would have shown the group as insolvent. Let me explain.
Sales were up from £5.4 million to just £6.7 million as half a bar of orders that loathsome pig of a chairman Tony Baldry of 3DM infamy had thought were shipped in December when issuing the 29 January trading statement were not shipped, something the ex Tory MP only fessed up to this week. So much for timely disclosure. AIM Rules are for little people eh Tone?
The promised EBITDA profit thus became a £380,000 loss. But that is bull***it earnings. The loss before tax was £1.4 million. The cashburn from operations was a stonking £1.6 million. Surely the swine Baldry knew that on January 29 but did not say it because it would have given the game away about how close to insolvency the company was. He wanted to pump the shares pre placing not to give a full and fair presentation of how bad things were.
Gross margins were down, customers took and extra 5 days to pay bills and as such we saw that the balance sheet was in tatters at the year end. Cash was just £290,000, Current assets were boosted by a massive increase in receivables which, I think, is balanced by a massive increase in deferred income on the other side of the balance sheet. But as trade payables soared ( the only thing that can happen when you have no cash) , net current assets ended the year at just £31,000. And as at December 31 the company also had debts ( on which it pays 15% interest) of c £2.3 million repayable within 12 months ( I June 2019) so that would have seen net current assets massively nebgative.
Luckily, for that in a cash burning company would be an indication of insolvency, two days ago the company announced a deferral of the repayment of those borro2wings by another year. So, hey presto, they become a long term ,liability and net current assets stayed (just) positive.
In February the company raised a bailout £500,000 gross ( call it £450,000 net). We are told Q1 revenues and orders are ahead of biudget but the fact that we are NOT given any indication on profitability makes me sure that the business is and was still burning cash. And thus I suggest that the £500,000 is almost gone or at least that, as of today, net current assets are only just positive.
A bull of the stock points out that the auditors have said that Westminster has enough working capital for 12 months. That will be based on reassurrances by the loathsome Baldry. You will note that the auditors gave the same sign off in may 2018 and within 8 months a rescue placing was needed. You can bet the ranch Westminster is itching to place again as it needs the cash.
This is the curse of Baldry. At 6.9p mid keep selling
Nice to see you here buddy. Why do you no longer post on the MYN board? Your posts were a breath of fresh air
twitter traders mate, the muppet5 who have suddenly appeared below
there was no "seller" bud. There is a one billion share overhang from the last placing. Placees have not had the opportunity to dump as the bid never rose above their buy in. Those who are coming in ramping their ball5 off will be gone as quick as they came. Twitter traders, nothing more nothing less. The company has nothing to report on, the JV is bone idle, they continue to run as a loss making enterprise. Facts are facts, everything else is jam
address my points buddy. it's always easy to deflect by throwing toys out of ya pram. Let's stick to facts shall we? You have a 1 billion share overhang to clear at 0.1p before we start talking multi bagger based on some dodgy chart predictions. You have serious funding issues. Watch the next issue of confetti to plug the working capital deficit. It's a sinking ship, only a blind muppet can't see that. Any new fellas on here are ramping for a quick trade, simples.
word on the street is that the company is running low on funds. aje historical payables are eating all the revenue from oil sales and Stefan has overheads. He still owes cornhill the $1m at first oil part of which has been paid down, and the £1m raised 3 months ago is approaching 100% depletion. If anyone thinks Stefan can secure project financing with the JV partners who are also financially stretched is living in cuckoo land. Panoro are desperate to sell their share of the project and can't find any buyers, it's been on sale throughout 2018. The company will go bust in 2019 imo, watch this space
This is what he looks like: https://twitter.com/RobHunt99/status/1054330497126617088?s=19