Member Info for Setanta1

Hopefully there is far better contract work in the offing in the immediate future. The Stena work is short duration,( acouple of days in the dock for each of a few ships), and it is the same work which was been carried out last Spring before H& W went to the wall. I can't imagine that it will pay the running costs of H&W as it now constituted.
So we must expect to have news of important contracts in the immediate future.

Mr Triumph thank you very much for that. I am not at all sure about the H &W working capital costs , especially now with the much augmented work force. But I would imagine that the costs related to the three raises came to at least £700K so that would render your calculations a bit optimistic perhaps. In any event it would be easy for the BOD to reveal the current state of play! Go well.

Chrisardg that I only held 2250000 shares in INFA and was showing a loss on them of only £6K! Great resume Mr T but I would also like to know the current cash situation.

interesting posts here this morning. One has the impression that the contracts that JW has been talking about are the same Steena work that the previous owners of H&W had before they went bust. They, apparently, couldn't make the work profitable.
Interesting question about whether JW is going to indicate the value of the "new" contracts.!
Clearly JW is depending on some form of government grants to keep thins going. Plus the EU grant of course. I don't know how much cash INFA has in hand but we need well over £2M to pay Costain and the remainder of the H&W money in the next three months.
Also clearly PI's are no longer investing here. That side of the market has been at rock bottom for some time now. I dread to think what might happen if one of the II's who invested in the placing decided to pull the plug.

As far as the many PI'S who have held here for the past year are concerned the main event has been a fall of over 80% in the share price. Now that took some doing!

but all this selling could be the harbinger to another placing. Why is everyone so sure the seller is Riverfort? We don't know that but we do know INFA is perilously short of cash.

I don't know but Leesadee isn't half getting the goat of droderick, spud et al. Let her run. she;s entitled to post too!

To read this BB makes it almost difficult to believe that the SP is , more or less , where it was at the beginning of December despite the fact that INFA has acquired a ,(so called to date,) revenue creating asset.
The faithful posters put the poor SP performance down to Riverfort. But who made the decision to deal with Riverfort ? No prizes for the right answer!! And how do we know the selling is all Riverfort related. And who,s paying the high maintenance costs of H&W while the shareholders are awaiting fresh and spectacular contract news?
It's good to see faith but not so good to see a narrative being peddled which may not be correct.
By the way the SP was .56p on 1 October. I wonder when we'll see that number again!?

i just read your post. The maintenance costs of H&W have been paid by INFA as follows:
November 2019 : £500k plus vat
December ( to 7 Jan ) : £600k plus vat
Also to note that the final payment for H&W ,( £1.49M) is due by end April 2020.

.....about the EU funding, and, (hopefully), about the appointment of the new Chairman. But it hasn't done much for confidence as evidenced by the SP today.
There still remains a huge question about overall funding here. i suppose one might accept that it may be commercially difficult for JW to give categoric details about the value of each contract but that does not mitigate the necessity to give shareholders some kind of assurance about the financial viability of the company. Costain will receive over half of the EU funding and we still have almost £1M of the Riverfort finance around our necks. Unfortunately nothing revealed give much hope for any uplift in the SP during the coming 3-6 months, and there are still ssignificant hurdles to be cleared by the INFA project.
Good to hear from you crl123. You're in here big!
Radders, enjoy the fiesta!

In the penultimate paragraph I meant " the two largest stakeholders who post on this board."

I haven't gone anywhere. I said last night that I had other fish to fry. I do like to get out a bit, something a few of the more prolific posters ought to do !
I notice that the £5000 stakeholders and the cut and paste twitterati have been active in my absence.
I haven't read all of todays posts but I did read Leesadee and I noted in one of her posts that she thought droderick might have bullied me. Not so dear Lees. It would take someone with more than the lineaments of a euneuch to do that ! By the way I didn't know that droderick was a resident of IM.
Look ,posters, let leesadee get on with her work. She has every right to put her case to Daera. Ithink INFA will win but just let it take it's course.
I would like to comment on INFA. I am concerned that H&W is going to cost us around £1m per month in running costs and so I'd like to know the actual financial value of the current contract and similar information for future contracts. I dread that our BOD may try for another placing.
Let me be clear about something. I thought the world of JW when he became CEO. I thought him clear minded, informative and transparent. I now see him as very opaque.
So, crl123, to what should be the main point of this post. Like you I'm here for now. We are probably the two largest financial holders here. I view good Dawski's holding as having a kind of corporate element. though I could be wrong. I see Nobby's holding as being Sipp related and probably for a very long time.
We two have also been here during the AP and PW era and we believed what we were told. What fools! But it's made us sceptical and my scepticism returned when the chairman stepped down and the twitter stalwarts robbed the till. Then our CEO stepped up to tell us that it might take up to six months to name his replacement. That was eight months ago,but still no explanation for the delay. I could go on and on . Just too much opacity. The thing Adrian told us we would never see again.
So the fish is fried,(and very good it was too),and I am thinking about what to do next. I have reams more to say! Go exceedingly well crl 123. I value the value your post gave me.

Have a bit of sense,spud. With the confetti share situation the only ones who can defenestrate the BOD will be Institutional directors. And they will leave before they decide to do that.
And droderick when JW came the company was about as far forward as it is now. but with billions less shares fluttering about.
Yes droderick I have zero belief in this BOD and we'll see if time bears out that judgement. One last point . any holder who is in here at above .7p will never, ever,ever regain the value of his investment and he/she runs a fair chance of getting into the bust category you refer to.
BOD shares held: JW 42m. Arun Ramon 1.9m (no fool he), Malcolm Groat None.Now to the other fish I have to fry!! Good evening.

Hi, as far as investors are concerned the main event of the past year has been the reduction of the SP from 1.28 to .28p. Just what investors love to see,don't you know. An 80% loss on their investment. So we shouldn't criticise. Get real, droderick.
A chairman was supposed to be appointed by now. No announcement. incompetence and cause for criticism.
I don't see any floodlight ,droderick, I see a can being kicked down the road by a bod that , for me , lacks credibility.
My criticism is voicing concern at my large losses here and calling out the BOD which has oveseen those losses. This is certainly not what I was led to expect even three or four months ago.
Lastly, I have never thought the H &W investment was a good one. It's a small time failed shipbuilder coveted by someone because he had been involved in such activity before. My guess is that it will fail again. My guess is that the IM project will probably fail with it.

Hi Spud, Just two things. I think investors have a perfect right to voice their opinion abot how a company they are investing is being managed. It isn't just a matter of "if you don't like something take your losses and go somewhere else". This letdown was shabbily and incompetently handled.
Now you cite our man's tweet as a nod and a wink. Very professional of him ! Go well !

Just an attempt to predict the future course of events. I think :
1. The IM Project will be killed off citing problems with protestors. By June 2020.
2.FSRU will never get off the ground.
3. H& W will be back in administration by mid 2021.
4. The institutional investors will start tojumpship by mid 2020.
5. If they haven't already done so sensible large long term investors should begin to talk to their brokers about how best to proceed.

Tango,the bus and sells as shown bear no relationship whatsoever to reality. The numbers are just a confection by MM's.
QuantumStar, good point you made ref the punters buying the Bid and OO. Shows just how cynical Mr Wee Rascal and his mate are.

SI, of course the II's were told what was coming..And Radders he is also resposible for the SP. And how do you know there ever was an equity funder ? Because MR. Rascal said so? Get real. And scored the 20M shares were given to one consultant not to any company. We have just been conned and there isn't even a glimmer of light even close. Whatamess, who said Mr Rascal and his sidekick are looking for another equitu partner. They're looking for grant money which could be like looking for a needle in a haystack.

Saw your stars but you needed one more to indicate CONNING. Like your posts though.

still no new Chairman, and no mention of filling the position! INFA desperately needs a makeweight to what we have as a BOD !
Sorry about the partial double post. A slip of the finger.