Member Info for ShouldveSold

Board's of successful companies aren't just filled with qualified individuals all in the same field. They are filled with diverse people with a wide range of skills, experience & expertise, even if its not sector specific. But it brings balance & keeps a company rooted & enables foresight & limits potential unforeseen circumstances.
I don't think anyone can label Scirocco shareholders as "impatient".
I think it would benefit all shareholders to have someone on the board who isn't part of the directors cream club.

Now I'm all for saving the planet & using renewable energy. But not as an investment, more of a charitable donation. And in my opinion Scirocco Energy is donating all of its income to Gneiss, who aren't a charity. So I don't currently understand the business and judging by the shareprice performance, neither does the market.

Haggis from what I have read in the year end financial's; (not being an accountant) if Rumuva is taken out of the equation, Scirocco is actually insolvent because the current deal they have with Gneiss means all income goes to them.
The corporate structure implies this will be the way Scirocco will continue to do business going forward.
I suspect that with each AD deal that is done, Gneiss's fees will be pegged to match.
I am expecting that with 3 AD plants generating an income of £1.8M+ a year, Gneiss will structure a deal where their rolling retainer fees & commission will be £2M+ a year which Scirocco will happily agree to meaning Scirocco will still be making a loss in 24months time. (Time will tell whether this is a ridiculous conclusion. The Gneiss arrangement could of course be ended after 15months with all new business going soley through EAG which in my opinion would be pivitol)

The only thing I read that may actually mean Scirocco retains any income, is from the fertiliser by-product. But being as those figures have not be given, we don't know how much that could generate. Presently I think the only value Scirocco has is in that potential fertiliser.

Yes Scirocco will bank £3M by December as initial payment from the sale of Ruvuma and maybe even another £3M in the following 3-6 months but how they deploy that capital will determine if the company can be turned around. I would love to believe this is a pivotal moment for Scirocco but I haven't seen anything which suggests the business will grow or that Scirocco is committed to generating a return for Shareholders. It appears to be running full speed ahead into a "saving the planet/not for profit" future where the only people who are sustained are the Board's of Scirocco, Gneiss & EAG, NOT shareholders.

In 10 months time Scirocco may have spent £6M buying 2 Windmills & a chain of recycled washing machines sunked in a river somewhere to exploit tidal energy from a river that will dry up in 2 years time lol.

Being as the Tanz gov have opted out, one would assume its now all approved and in APT's hands and that the deal would now be wrapped up quickly. I wonder if WEN can now legally increase their offer in hopes to buy Ruvuma or whether the deal is the deal being as it was formally agreed. Does anyone have any educated insight?

Hhhmmm a placing coming to cover Prolific???
Expecting a gloating " we told you so" RNS in the coming days.

Which is reflected in the market cap, the stock sentiment & index it trades on.

Well if T.Rs plan is to increase the Gneiss retainer with every AD plant so all the income continues to go to them, then I agree with you.

MT you will have a better understanding of the financials than all of us put together then.

From my understanding both EAG & GGL are private companies so we will never get detailed numbers and so are left to speculate.

From what T.R is selling, looks like once these AD plants are daisy chained, Scir will have a rapid turn around. I reckon I could be at breakeven by June 2027 :) happy days

The way I've interpreted the report is that once the AD units (of which 3 more are in the pipeline) the metrics really start to stack up.
No information on what value the H2ope SEM JV brings or how much the fertiliser sells for.

Gross net? Lol
The £600,000 is group net.

Correction * the £600,000 is group gross net.

Lol glad to lighten the mood, even if its just for a few hours in here :D

If I have read the financials correctly, the £600,000 is gross. Couldn't see the breakdown for the net, but income showed £323,000. So I am guessing thats Scirocco's 50% net.

Surely a good "Circular" investment would be for Scirocco to buy into Gneiss Energy lol.

I'm guessing Scirocco will roll into another 15 month contract with them when the current retainer expires so the AD revenue never trickles down to Shareholders.
Team Gneiss for the Win.

Finally got time to scroll through the financial report. From what I can see the AD business is on target to generate £600,000 by October (12 months) and the payments to Gneiss equals £606,000. So Gneiss does get all the income for as long as Scirocco retains their services :)

Hopefully sells it before the resource upgrade. Wouldn't it be funny if after the transaction, WEN bought a 12.5% off the government for £16M.

Thanks Steve, I have just found them.
:)

Year end financial's are overdue. I am eager to see these AD figures, the income/outgoings & what Scirocco is doing with the stated 34% increase in income.

Here's an idea. Instead of paying the monthly retainer to Gneiss, make those payments to Prolific. I am guessing it was Gneiss who brokered the arrangement knowing full well Scirocco had a high probability of defaulting.

Right Alistair; because it was the shareholders who tanked the company and NOT the Board agreeing to give all the income generated to Gneiss whilst it had vital outstanding financial commitments. LOL