Member Info for SecretBlueprint

Can we not have a row about Simpleton, Minty and Scrotum, like in the good old days? I see the Minty G2W co is in default at CH. Was hoping to see Minty in court in St John's , but PVF Energy Services website is back on line again; "Garden Hill South. This project is on hold pending resolution of technical and commercial issues." ....Still looking for Minty's loot and his **** and bull story about the well problems ?

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Garbled
Persistent yawning across multiple boards is a symptom of poor health and fatigue. Go see your GP, you may be ill.
IMHO DYOR etc

That corporate update was like a drowning man thrashing around for something to hang onto. Totally disillusoned with Gobind, just a silver tongued non performer. I am out of this and recovered my loss from SNG today , which is a useful company that delivers some tangible results.

No more comment from me. " Good riddance" they all cried......

Yes we have.

Read down a few posts.

"I am with Bobby"

I agree that stalking the directors and their movements to elicit inside information is wrong and it is wronger to publish it for a pump, which is what happens.

"I am with Bobby"

Good evening Jack. It's splitting hairs I know, but right now, RBD don't have an equity stake in the licence, so we can only deal with certainties. The one certainty is that the licence holders do not have the money to pursue a fast development plan as you call it. So it's a gamble on a well, a test and and a sale of the licence for UJO and its a gamble on a takeover for Rathlin.

Intrinsic value is a meaningless concept on AIM. Exuberance is its lifeblood.

Short away now if you like, but I think you are too early. I will leave when I judge the moment to be right.

cheers

SMN, I am sure you are right, but UJO will get cash in that situation, but unless Rathlin declare a special dividend, RBD would not, so the two companies have a different outlook on life, risk and returns, so that might explain the market cap anomaly?

RBD have a different business model to UJO. They own shares in the operating company rather than equity stakes in the production licences. So in that sense RBD can never profit from any produced oil unless the operator declares a dividend or accepts a takeover offer.

I don't really understand why they do it that way. They might just as well buy selected oilco shares in the market.

Mr Havoc

No news this week, that is my plan, and for the avoidance of doubt.. I don't need your investment advice thank you.

And it probably includes legal costs with the planning appeal which will be refunded by NLC

If you want to split hairs, there are non-cash items in that £1.6 million G&A, , so the cash spend is lower.

I see the oracle of lodged RNS material, InCider, tells us that it was pulled at 0400 this am for a revision. His InCite is truly remarkable!

End of June has been and gone. Tomorrow is the last day of Early July. Why does GS set these unreal expectations to shareholders in his emails?

If there is no update tomorrow, I suspect FOMO will be replaced with FOBI, and another slide. It does not matter that LIDO is richer than Croesus, if Gobind cannot close a deal with someone, then where is all this going?

I do think that HullFC set a hare running yesterday and in the absence of confirmation to the wider public of something unspecific, not just to him, he caused, perhaps unwittingly, a pump and dump event and someone was spiked at 2.7p. Was the "Telegram Group" involved? I know he is a bull on this share, but the LIDO story was ill judged to be put out on here with an apparent private company confirmation which did not result in an RNS. Ought to be more cautious IMO ( remember the Blackrock JV theory?)

Tomorrow will tell, even InCider says there is an RNS lodged for embargoed publication and somehow he has access to that on his track record, he just don't know the content.

I will have to get up at 7 for pee break and all will be revealed, or not.

Yes it does, but earlier today, it looked like it was hacked with a landing page asking you to download software before proceeding.

I don’t know what Giles and HullFC have found on t’interweb, but it is no secret that Gregory Kushner of Lido and Danny Swick of ALGW are talking to each other. There is an annual event organised by Lido called the Annual Family Office Investment Symposium. It was supposed to be held at The Loews Santa Monica Beach Hotel but was postponed because of COVID-19.

Gregory was the Chair of the symposium and Danny was an invited speaker to talk about longevity assets, ergo they know each other. I think the event has been postponed to September.

As someone who is allegedly working 110% of his time on making these kind of contacts and drawing in business from them, the big surprise would be if Danny (and by extension Gobind) was not trying to do a deal with Lido, rather than that he is.

However, talk is cheap and until something is tied up, it remains speculation. Too often Gobind has snatched defeat from the jaws of victory (Hybrid, BOAGF, RCF, Warehouse Vertical) so this time he had better deliver. God forbid he chucks in a placing alongside the long awaited “update”.

On the face of it, Canora has posted twice some prima facie evidence that the directors have committed an offence under the Companies Act 2006, and both posts have been removed.

I suspect this post will be removed too

I am sorry but I don’t buy the idea that a revolving credit facility (RCF) is no longer required.

Let’s look at this with some logic and insight.

The nature of the “HYBRID” fund has never been properly explained by the company, and it is now off the table, it seems.

Let me explain what I think went wrong with the HYBRID fund and why there is still a need for the RCF.

The US market is swamped by institutions flogging senior life settlements, so how on earth can a tiddler on the LSE break into that market? Answer …..Tax efficiency via a Cayman Islands limited partnership. That is the only USP that Alpha has, and it has been bigged up by the company as such.

BOAGF is a limited partnership based in the Cayman Islands, it is still the company’s core objective according to its website.

A limited partnership is a partnership which is managed by a “general partner” and any number of “limited partners” can subscribe for participation units. The limited partners have their investment risk limited to the value of their participation units whereas the general partner has unlimited risk. The general partner usually mitigates its risk by incorporating as a limited company with $1 liability to creditors upon dissolution.

So who is the general partner? It is a limited company called BOAGF GP LLC, also based in Cayman Islands. Who are the members of BOAGF GP Limited? They are SL Investment Management Ltd based in Chester UK and Alpha Longevity Management Ltd based in British Virgin Islands. It would charge a fee based upon AUM, and split that fee between the members.

How does a limited partnership work?

A participation unit is a combination of a small equity capital contribution, say $100 and a large loan, say $10 million. So when the investment proceeds are delivered, the loan is paid off preferentially and any surplus becomes a capital gain on the $100 capital contribution. Capital gains pay less tax than income in most jurisdictions, and with US investors paying tax on worldwide income that is a boon.

The HYBRID fund seems to have offered participation units which no-one wanted, so in the absence of that, a new source of working capital is required for BOAGF, hence the need for RCF.
It might be that the consultancy work from SMA will turn a dollar, but the big money will come from access to the RFC. Of that I am sure.

Without the RCF there is no big business to be done. The next news must be about the RCF or it will be carnage

I agree, this platform puts more energy into its flawed buy/sell algorithm than collecting a true record of trades for its customers.

Godhimself... the total amount of financial reserves available to FIG are half the market cap of Premier Oil. That is no position to start raising bonds as a sovereign entity. Also the cruise liners have gone, the wool export market to India has collapsed and Spanish squid fishers are down, all because of COVID. FIG will surely have higher priorities to sustain their people?

It's a small town economy, without even a cash machine in the bank wall.

LTT, surely the tax liablity on the development carry disappeared when that carry disappeared to be replaced by debt?