Don't know why mine was deleted? I said that the reason that the administrators were called in was because of the failure to pay installments on the loan MRS took out in May. Quite bizarre when you consider that they must have missed payments immediately after taking the loan out and surely Brenton etc would have received plenty of nasty warning letters / communications that could have triggered some kind of alternative action (and averted the appointment of administrators) I also speculated that Brenton was having some kind of breakdown considering the ongoing pressures of MRS and the heavy handed overbearing problems of dealing with that tw*t Zorbas
40% is a minority Leon but have you considered that many (most) well run Companies can count on the vast majority of shareholder support. In the world of Zorbas and cronies they’re aim is to get sufficient shares to stuff the 40% minority for personal gain (overvalued acquisitions / introductory fees / websites development fees) justified by lie after lie after lie - you give Wales a bad name
Let’s face it without the 26 million shares stolen from us for the bogus Alerion deal the board would have been toast. And before you say about an independent valuation - that was also a scam. All that the valuer did was ask Zorbas et al how much Aleriion would make so they pumped up a fairy tale figure which the valuer multiplied to arrive at a ridiculous valuation. How can Zorbas and cronies believe that they are doing a good job when nearly 40% of shareholders are dissatisfied???
I think September could be crucial for RRE. The recent Director purchase’s probably mean that news is unlikely for a few weeks which takes us into September when they announce the half year results. A deal could well be in discussion and the half year report will be the trigger in my view as they will need to pay a divi if a deal isn’t being planned
Earlier this year I had a twitter exchange with Leon / Jacko who was trying to convince me (and others) that MRS had the refinancing sorted and EPS would be near 4p. Complete clown didn't realise that the refinancing was too late to affect the financial year (and it wasn't concluded anyway) and that MRS had a tax charge for profits so making even half of his estimate was going to be a struggle. I guess he was just ramping as usual!!!
When you look at the last accounts the short term liabilities are horrific (including $12m of trade payables) and the short term assets nowhere near enough to cover the liabilities. These transactions are giving the Company a little extra cash to keep things going but AC must be personally out of cash to do these types of transactions. A positive drill result has to be achieved (quickly) otherwise a disaster is looming