No they're not the same. They all had the following: -
1) Billions in assets
2) Management teams with track records of accomplishment
3) Billions in revenue
But they still couldn't find anybody to bail them out by investing.
But you think SRES, with its 15-years of not delivering a penny of gross revenue will always be able to find new investors?
You're dreaming
"What examples have you got Sheldrake?
Just so that we know what we are comparing against?"
Just a few examples
Refco, 33 billion USD in assets at time of bankruptcy
Pacific Gas and Electric Co., 36 billion USD assets at time of bankruptcy
Chrysler Motors, 39.3 billion assets at bankruptcy
Thinking that this little company with some piles of gravel in a remote corner of the Nevada desert is immune to bankruptcy because it can just rope in new investors indefinitely after 15 years of failure is lunacy.
I don't know why you're laughing Twiggy. Much more productive and loved companies than SRES have gone bust before now. The idea that PC can just keep finding new investors indefinitely after 15 years of failure is a dangerous delusion.
I said it to a particular person who was being extremely rude. The latest RNS is evidence of more money being frittered on precious metals exploration to distract you from lack of progress with pozzolan. The placing is getting closer and closer
You realise that in bankruptcy the company assets will be worth less than current market cap, right?
There will people in the industry who want these assets, sure. But they are also well aware of the company finances, and the extraction & transport costs.
PC and the board are the problem though. The project is going to need more money, and raising money is about credibility. 15 years of one deal slipping through their fingers after another.
*15 years*
How much would you invest in the next placing?
I told you why I invested. I thought the CS project had potential and was gambling on PC pulling off the deal he’d been working on. I sold because I no longer believe that a deal can be pulled off before a placing is needed, and give SRES track record there’s increasing risk of placings being undersubscribed.
Selling after a year at 0.14 isnt trading. It’s cutting your losses before you lose everything. You seem wedded to the idea that me admitting my investment was a mistake proves something clever. It does not. But it does support my thesis that most of you are holding on to a doomed investment because you won’t go through the psychological pain of admitting it was a mistake and cutting your losses.
PC took his wage from TYM, and SRES paid TYM 'services fees' of about 80k a year, but thats not super important.
I am fully aware that PC's interests are relatively aligned with shareholders. The problem isn't alignment, the problem is capability. PC wants the same things you do, he's just not good at getting them. He's got a 15 year track record of failing to get them, and the best chance ever, which took a couple of years to develop, just slipped away.
"You say you are trying to stop people getting burned but then a few days ago you were saying how happy you would be when we all were and you were only hanging around to be able to say you told us so."
That comment was aimed a specific, very rude and deluded person.
Aviator was trumpeting the imminent deal and the windfall profits it would bring right before PC announced it had all fallen through. Aviator is a noisy clown who pretends to be knowledgeable and is too insecure to ever admit making a mistake.
I have no idea why you think I'm ramping the other companies you mention in some other group. This is all coming straight from your imagination.
I am simply trying to stop people from getting burned any further by this hopeless underperforming company.
PC wont have a choice about it going bust. It wont happen because he *wants* his shares to be worthless. They’ll just run low on cash, try another placing to fund continued operation and investors will eventually turn their noses up.
You’ve got to shake the delusional idea that SRES can survive indefinitely with placing after placing until it finally wins big. Business funding does not work like that