Member Info for Slurm

sml have one small business (SMG) run by 3 people if think, then 2 non functioning assets, how does this justify the multiple large exec payments? Little in the way of background checks on who they conduct business with, financial planning of a 10 year old, greed that makes Philip Clarke look good.

JP unless you pull something out of your hat I would say it might be about time....

I agree, I asked what PW does as a precursor to taking more responsibility from other that should move on, Redmoor is most likely the future for SML

It just get f****** worse and worse, JP do you not see this and think maybe I should keep my hands out of the cookie jar at the moment??, at least until im not always taking the last cookie, FFS SML made no profit... yet you think you deserve to take $191k in a bonus?????

1. No bonus's until the SP has stabilised and at a higher level
2. Reorg/remit review to ensure current organisation matches turnover and remit, yes this may mean redundancies/lay offs - What does Alan do these days? whats going on to justify PW's role now? JP what are you doing as it sure isn't financial planning
3. Time line for LC and Redmoor given current financial restraints caused by paying your bonus's

Be very grateful for Covid, as otherwise I think the AGM would not have been so happy as the last one, I wonder what the manners family think about the performance.

Given whats happened recently I am pretty ****ed off.

I cant find any justification for JP and team warding and accepting a bonus if this sort of level where the SP have nose dived and profit dried up.

JP I have ALWAYS been a supporter, but I think you are taking the ****, you could have raised far less had you not taken your bonus.

preston I hold more and agree with you, the foresight demonstrated recently has been pretty bad.

The bonus was set way before this all took place, but I do agree it could have been rejected by the recipient given the circumstances.

thing is JD I cant blame you, unless some things change there are definitely better short term investments.

im considering going back into day/week trading to some degree as I did well out of that.

they look like reporting corrections....

I think most to all are....

1.2 is my break even, and im not looking to break even. looking to sell at 4p a couple of years from now.

Please remember that fraudsters can be very good at their jobs, this woman managed to get 46mil out of one company and that was an investment so to agree to sell her something is way easier.

SML sold her magnetite, got a good upfront payment structure in place to possibly negate them not having history or being an unknown/unsubstantiated entity.

As time went on and the money came in, they began to look like the other customers and used the new figures generated to try and grow.

Overly ambitious or negligent I don't know but how happy would the shareholders have been had they not tried to grow.

I am not saying this makes it all ok, but its possible this is how it played out in the senior SML team.

I agree, that's much better than the RNS, possibly the RNS was rushed to get it in ASAP.

Email intent is as substantial as paper these days, in some cases more so due to digital footprint.

From my perspective, this just back up what I was saying, the contract was very good and couldn't be turned down, as time went on it got to be considered part of the normal business.

Fair play, not happy but fair play.

nice prop, I bought 3k last week, so im done for moment.

I do think there is a possibility of 5-10% asset recovery, I wonder how much the shares were worth they have frozen?

Im hoping this draws a line under this affair and it pushes JP to make some changes and push on, after all he need to get the SP up just for his own portfolio

sounds to me like AB was on a jolly when he was supposed to see the client, possibly got fobbed off and went to a nice drinking establishment, well that's one likelihood anyway

hindsight is great, but when you think you have tied up with escrow payments you can get a little blinded.

Too trusting, too helpful and naive, possibly careless planning.

DJ, I think he was merely pointing out that whatever you have read, you have NO proof and cant call someone a liar on a public forum without a risk of libel type action.
Had SML known what they were getting into from the start, arbitration would have not been successful, so on some level a legal representative is satisfied that SML are the victim

dont forget, they even extended timescales based on the letter of intent, so they "knew" NOTHING.

I could have composed that RNS better, waste of money and time.

I have been a huge supporter, even I am beginning to wonder what sort of operation is being run here, im still invested and the actual details don't change my position, but its clear a sub prime operation has been run since this customer came on board.
You can(and should) of course take anyones money but if your not sure about it, don't f'ing rely on it.

I think the bod wernt to concerned about who bought the magnetite and I think that's fair enough, but they should have just treated it as a bonus rather than basing material decisions on the income.

Hindsight is a wonderful thing.

individually SML gained out of the deal, but basing decisions on it was where SML acme unstuck.

I think all I would like to see if a copy of the letter of intent...

They cant, we sold a product and they bought it, nothing more.
Remember this was a subsidiary company at best.

It dont look great and jp needs to speak up, but I think it's likely 5 to 10% of assets will remain.

Wow that's a surprise fira , looking at the worst case.

Investment will likely be after covid has minimised and the investor has a better understanding of the situation, possible wait until pepr is further along also.

It's a but early to start calling the bid liars....lol