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Uncanny - as has been shown, the Average price they paid works out as 0.305

Uncanny - when you are working out the equivalent rally from Dec 17 you also need to take into account all of the shares that have been issued since then, not just the ones due to be issued.

Thoth2 - that is correct. Our new 'investor will be forced to continually sell shares so they don't go over the 30% thresh hold otherwise if they hit 30% or above they will be forced to make a mandatory offer to buy the whole company at the lowest price in the previous 12 month period.

Freddy / mathsprof apologies you are correct, however it doesnt alter the break even price

You will note that in my posts yesterday, I did indeed refer to it as the 1st and 4th tranches and somehow seemed to have mistakenly referred to the 3rd tranche this afternoon.

Freddy / mathsprof apologies you are correct, however it doesnt alter the maths and the break even price.

You will note that in my posts yesterday, I did indeed refer to it as the 1st and 4th tranches and somehow seemed to have mistakenly referred to the 3rd tranche this afternoon.

although we don't have to pay that amount immediately, The monies received in the third tranche will be reduced accordingly to pay off the debt incurred from the first tranche.

Actually - on closer inspection of that 'make whole' clause, it states 'in the period to the issuance of the first tranche'

The fist tranche was issued on the 1st of may, so that clause has already triggered now which means we definitely owe them the money .

So,

The first tranche we receive £426,000 minus a fee of £92,666 minus £350,000 'make whole amount penalty'

which means for the first tranche Valirx are minus £16,666

Thats right we have just paid EHGO £16,666 for them to take 71million shares

Premium my back side !

Freddy when I say the way things stand I mean as of today we are 35% down from the subscription price of 0.6p

The RNS states in clearly
"A "make whole amount" provision shall apply to the first tranche of the Convertible Funds such that the subscription price for the £500,000 tranche shall be reduced in the event that the Company's share price declines in the period to the issuance of the first tranche. This is to be calculated by multiplying the stock performance of the Company (expressed as a percentage) by £1,000,000."

Which means the way things stand at the moment we will owe them an extra £350,000. (£1m x 35% =£350,000)

As things stand, their break even price will be closer to 0.305

Freddy - you posted "Interestingly enough, uncanny, our new investor will break even at approximately 0.47p"

I think all on here would love to know how you came up with that figure ?

I would also hazard a guess that if it passed the clinical trial then it would be worth more than £5000

indeed mathsprof,

" It's very interesting that the IP of a bankrupt company is sold off for peanuts in the fire sale. Good job VAL had balked at paying a lot more last year."

I suppose Val were the only ones that showed any interest in it ?

I's also interesting that they say that the IP ' had previously been in a clinical trial' I'm guessing it failed the trial otherwise they would have provided more details ?

Thanks mathsprof,

Wow I hadn't realised they terminated with bracknor (death spiral) and then signed up with EHGO (death spiral)

It's as if you were talking about VAL who terminated with bracknor (death spiral) and then signed up with EHGO (death spiral)

I wonder if history will repeat itself.

Doesn't look like it, Why ?

Scooby - maybe instead of personally attacking me, you could tell me whose figures are correct.

Mine or Uncanny's ?

If you want to stick to facts uncanny, maybe you can correct your own posts.

You said earlier "We should have our first cash injection of £426,000 going in the bank tomorrow with our investor paying a 33% premium to market price."

Actually we only have £333,000 going into the bank tomorrow

And there is no premium being paid as the 'make whole' part of the agreement will adjust the price down accordingly.

You also said the market cap is now £2.9mm.

Now that the first tranche has been admitted the market cap is now £3.2m

Which good bits did I miss in that funding RNS ?

I can't wait for your answer !

I have read that paragraph again, and it is even worse than I thought :

"The Investor shall have the option to purchase an amount of the Company's shares equivalent to 25% of the Total Commitment during a period of five years."

Which means that even if VAL only take the minimum of 8 of the 26 rounds of dilution then EHGO still get warrants for 25% of the total as if they had executed all 26 rounds of dilution (WTF !)

And then on top of that then :

"Additionally, the Investor shall have the option to purchase an amount of the Company's shares equivalent to 15% of the value of each tranche of convertible funds "

Which means on top of the other warrants, they get an additional 15% warrants on whatever is actually executed !

So if they terminate it at the minimum 8 tranches the warrants will be way, way in excess of todays current market cap.

You couldn't make it up !

Lol Uncanny

Can you not read

"The Investor shall have the option to purchase an amount of the Company's shares equivalent to 25% of the Total Commitment during a period of five years."
"Additionally, the Investor shall have the option to purchase an amount of the Company's shares equivalent to 15% of the value of each tranche of convertible funds "

Noise - you say " But we are not going to get anything salient or productive out of him."

So you would prefer Uncannies false information such as this goes unchallenged ?

"This is how dangerous uncanny is to your wealth.

He states proudly

" The warrants are just 0.15 of total commitment during a 5 year period so hardly much more dilution"

When In fact the warrants are exacltly 100% of the entire market cap of the company. !!!!!!!!!

Current market cap £2.9m

funding package of £7.278m

Warrants available as 40% of funding package (40% of 7.278m = £2.91m warrants)"