Member Info for rickmeister

Don't forget the Corporate Update 13th March. This company is not out of the woods yet.

If he doesn't at least you'll have a stock to beat him with.

Yep correct. 2.173 shares.

Reasonable assumption that the rig could be held in a separate company but HE1 have said they own it-didn't mention via a subsidiary.

I did exactly that but is difficult to work out from the accounts. Cash at hand, 21 £15m, 22 £5m, 23 £9m. I thought they owned their drill rig but plant and mach only showing as £10k. As they have had 2 raises since the last accounts my guess is £5-10mpa. If they only have 6 staff their wage bill shouldn't be too high!

Up, up and away, in my beautiful (helium or hydrogen filled) balloon. Well I hope so.

1.5414. Te he!

Is it! Live price to sell 1.54.

Does that mean our assets are all a load of Snow White!

A friend of mine is an Administrator, dealing with property assets. They are obliged to get 'market value' so invariably use the auction route as it tests the market and has a high degree of certainty of a quickish sale. It will certainly test the assets figures in the accounts. Not sure what the company owns and what is rented. The Administrator can bring a lease to an end , if needs be.

I have a theory, but only that, as to why they may have gone this route. By announcing a heavily discounted equity raise it might encourage more participants if the SP stays above the dilution price. They had trouble getting all the shares away last time and will be aware that could happen again. They need to raise the max they can irrespective of the damage it does to the SP. I assume they are banking on some 'good' news within the next year and a hope the SP will recover. Somewhat of a gamble if I'm correct, but then we have been in gamble territory for a long time now.

Fortunately graphene does have several uses other than just batteries. Fully agree about Vardar, but a least they can offload this now as the minority shareholders are only interested in BEM's SP performance. I hope that's what will happen. Any money raised from a sale would be better spent in Finland or Sweden.

If we don't survive for another year at least the rogues who got us into Vardar don't get any more money. To adapt an old phrase, if we didn't have bad news we'd have no news.

Well done BoD, we now have a company with 3 major assets!, worth less than £10m. How are we going to fund the development of any one of these assets, let alone 3. Appalling.

I think the creditors are overseas companies so difficult to pursue. They also hoped to sell a redundant factory in Sunderland, not the most desirable location. Property assets are also notoriously illiquid, as any house seller will know, so a quick sale is unlikely anyway.

I'm not quite sure why the company had to say today was the last day to sort out finance as they have cash until end March. The usual wording in such circumstances is to use phrases such as 'near future' to give some wiggly room. GLA.

So the BoD has lied, possibly but make your complaint to them not me. I just copied what they said in a public statement.

Neil, yes we are aware of that para. My point was to dispute what Rebs had posted. I agree insolvency is a risk and therefore the BOD has to say so. Insolvency, as with a financing deal, is not guaranteed. Looking at the accounts the only reason for insolvency would be cashflow. Hopefully they can resolve that in the next 28 days.

Rebs, do not actively mislead. I'm copying the statements from the company RNS of just a weeks ago. They have cash until end March but identify solvency problems going forward if new funding isn't achieved.:-

Whilst the Company's cashflow model shows positive cash balances to the end of March, the Company's Directors are becoming increasingly aware that certain contracted cash receipts may be withheld, therefore bringing forward the date, absent any further funding, on which the Company can no longer solvently trade.

The Board continues to believe in the quality of Saietta's products and the compelling market opportunity and accordingly remains hopeful that a solvent solution for the Company can be found. The Company will continue to look at all financing and other strategic options available and has a number of discussions ongoing.

1p would suit me fine as that's my average now. I'm not by nature a gambler but AIM don't half suck you in. What's the adage, sell in May and go away. Should be sell in early Feb and go to bed.