Member Info for shamI89

to every sensible person that this company jumped on covid bandwagon to fleece private investors, it did not have any experience in mask making.Mask it is selling is way expensive then normal mask and we are approaching a period where a vast population wont bother wearing a mask anyway as most people have been vaccinated. Name change suggests that company is moving away from this buisness and would one day jum on next trend of the day bandwagon to fleece investors.

Hi guys what is story here, as this share was being pumped hard on twitter and this company was to win a massive Government contract, not sure what happended afterwards.

But in its last update did it not say that they had to change the path to access stage 3 and they got access to it in easrly Q2?

I do think that revenue is around 30 million but having said that in previous quarter 33% less mine ore was mined which could be due to company not getting access to stages 3 and 4 or coving cases among personnels as I am assuming some sort of safety measurements were introduced which might have impacted the production. We might be looking at similar set of numbers as last quarter.

A lot of twitterati have bought these in anticipation that they can pump and dump it for their 10/20% and that has failed to materialise.

I guess litigation against any government takes a lot of time and money and these sort of litigations take years. Problem is not only this company requires money to fund this lawsuit it also needs money to fund its day to day expenses with no income

Not really let institutional seller sell all of his holding, this is a very illiquid stock and don't think we will see any significant move if we have a background seller.

It should bounce as I suspect market was expecting some sort of outcome of Sfo investigation.Problem is this ongoing investigation is holding share price down and petrofac is yet to catch up with rising price of oil.SFO could impose a hefty fine on company and in that is case it can seriously damage its financial position and it may let it get away with a small fine and that can lead to a substantial rise.

Has come out of this hearing today.Somebody talked about 1.6 million fine and 6 years sentence but that seems to be a bs as company was bound to release a rns straight after.

GIiboo You are dafter then I thought if you believe that this would be last placing. It looks like PF is not confident about financial condition of company either and these contracts won't be brining in much needed cash as quick as we need it.

Hahahaha , who is daft.As I said you can't trust PF, before he used to raise money to meet "pre-contractual expenses" today he has raised to meet "pro-contractual expenses".Being optimistic is one thing but turning a blind eye to reality is other.

Well anyone who is familiar with PF knows that he only knows two sources of funding and both are as bad as each other.

Not really, similar claims were made in last placing and PF boasted of institutional investors which flipped their shares for 5/10%. Looks like money raised in December to meet "pre contractual expenses" has been spent and I am assuming that some money has gone on to fund operational costs. May be PF thought that these contract wins would give shareprice some much needed boost and he would do a placing at a higher share price But he has killed sentiment , in gold old days these Rns would have resulted in immediate 100/150% rise but market is spooked. Time would tell but in my opinion we should have a placing around 4.5/5 level.

Current contract wins should help improve sentiment ,however in my opinion company has run out of money and would need to raise some more.In December PF raised 5 millions to pay off clns and to meet pre_contractual expenses, cash balance was 2.2 millions in December and Pf must have spent a big chunk of that on these contractual expenses .This is why he did not answer questions related to financial situation of the company.

in my opinion but company is in much stronger position now . Pf was well short of money as he was numerous times about financial position of the company but he avoided that question. Let's see but market is anticipating placing !

genuine holders, generally speaking I did not trust Pf but credit goes to him.

Dont think twitterati can move this anymore, as you can only do so only couple of times and looks like they have run out of fools to sucker in for their 5/10%. That is why we see most of them moaning about "toxic derampers" on this bb.Last placing was carried out at a huge discount !

May be these "institutional investors" had enough of fooler's lies or may be they see another oppourtunity to get back in at a lower price.As long as price stays above 4 they have not lost anything and they are working hard to keep it above 4 .Even an upbeat trading update wont do the trick this time as we had plenty of these. This share is heading for 3s as I dont think these "institutional investors" would wait until Pf runs out of money.I knew something is not right moment i saw large sells and noise on twitter, I did thought that a placing is being worked. Ironically now we have "iis" which are itching to get out and Pf who is itching to get another placing away .

A placing is coming in my opinon PF does not want to disclose current cash position.However in order to lure private inveators in he will need some sort of news and I dont think he has any.

funny to see Ian posting about "posters with agenda".