Member Info for semaphorRed

Dude, the Xanax isn't a window dressing, you actually need to take it.

Certainly there are still some buyers and institutional investors are among them and I don't think the institutional investors are planning to sell anytime soon. For one reason I don't think there is the liquidity to tolerate £3M in sales without completely tanking the share price. The institutions should support the share price in the medium time and I have no doubt they are in this for commercialisation the same as the rest of us

E reason is that there aren't unlimited buyers out there - not enough people know about this share to buy it. That'll change, but not in 4 weeks.

It'll obviously get to 5p, 6p, 11p and so on *at some point* (with progress). The question is whether it'll get back to 6.5p in the next month, for example. I doubt it. Th

We all need to get along, enough with all this beef!

"where we'd be taking a director from, I did say Marine or Power."

As opposed to what, the dairy industry?

"and seeing as the placing was 1.5x oversubscribed, at 3p there's no way it would have been a failure"

This is uncontroversially true and 3p was probably a bit extreme. But at 1.5x oversubscription we arrive at a very rough 4.5p break even (obviously it doesn't work exactly like this). So maybe at 5p the raise would've failed. I still think, while agreeing with every point you've made, better safe than sorry, and all being well, this is our final raise.

@Fyoz - definitely don't think you've forwarded any "barmy ideas".

"Kindly explain how an exam 12 years ago would have helped me to select a broker that would be participating in this raise"

It obviously wouldn't. You haven't done anything wrong at all. Neither has Quadrise. Your broker is cr@p. That's the size of it.

"a safe method of expanding their Investment Base and raising the cash to get us to full Commercialisation."

And this is really the only important thing here. That's not to say fairness and looking after existing investors doesn't matter because of course it does. But we're so close, if the raise had failed it would be a catastrophe and even if the raise hadn't included retail investors at all, it's only 8% dilution or a 6.5p share price reduced to 5.98p.

Https://imgur.com/a/bCdt9vy

Examining just the market cap, it should have increased from 6.5p (dilution is irrelevant to market cap) as funding uncertainty dissipated. This is what's called a buying opportunity.

What's funny is that Barclays uses bookbuild for its own shares

https://home.barclays/content/dam/home-barclays/documents/investor-relations/IRNewsPresentations/2022News/20220420-Proposed-placing-ABSA.pdf

Total assets not net asset value (which again is exclusively a mutual fund metric).

"cash of £3.0m (2023: £1.3m), intangible assets of £2.9m (2023: £2.9m), and property, plant and equipment of £0.4m (2023: £0.4m)."

However that doesn't include: tax losses arising in the UK of approximately £64.7m.

Total assets is basically the breakup value of a company, if it went bankrupt and had to be sold for parts. As an example, the breakup value of Tesla is 119bn versus a market cap of 1.26tn.

"Nav is only £6Mil,"

Lmao almost missed this gem 🤣

NAV is a mutual fund metric

In very very rough figures, a VLCC (which obviously may not be typical) can burn about 100 tons of fuel per day and Shore Capital gives us about $50 per ton. So 5000 USD per day for the largest ships, 280 days sailing per year -$1.4M.

Divide by 2 to be conservative.

"That 0.5 to 1 Mil per ship is turnover not profit, didn't say what they'd make in profit from each ship but I'd guess it's nowhere near £1m. 12000 ships is many years and further fund raises away."

No, none of this is true. It is neither turnover nor profit but rather revenue and with the business model and associated very low and relatively fixed costs revenue will be very similar to profit compounded by the fact that there is so much deferred tax loss.

Rollout across 12k ships can happen almost as quickly as one ship - the conversion process is very simple

Once we start earning there will be no further raises.

"would receive no response"

For what it's worth the customer service of brokers and even retail banks are completely non-existent and this is the sort of thing that you get in response to any question or complaint about anything at all. Next they'll freeze your bank account and won't tell you why and it'll be 6 months. Happens constantly

"Stuckclock's"

OK these are quite funny

The slides from this presentation as well as the video recording of the question and answer session are up on Reddit currently in case anyone may have missed it or want to make any comments