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Evening bdog thanks for your reply and efforts with e-mailing the company. I tried doing that about 10th March but had no reply; I was hoping that it meant news was close, sadly it was just ignoring SH's plea for clarity. I've re-read that quote from the RNS many times, and all of it implies imminent 300k contract and possibly others too "when first orders have been received". This says to me they're in talks with other partners / companies too otherwise it would surely be "when that expected first order is received" the pluracy makes me think there's more. Who know maybe it will be like set of trains; nothing for ages then two come along at once lol. If that's the case then all's forgiven lol. ;)
Evening all I must admit I do feel a bit let down; not necessarily because we didn't hit the Q1 deadline but because of the lack of honesty / transparency. Surely it must have been obvious a few days ago that Q1 wasn't going to be met and a courtesy RNS informing that the DD was continuing longer than anticipated, the new time target is mid to end of April 2015 etc etc. Yes the price would have dropped but I doubt would bother LTH's much and possibly given a top -up opportunity. As this was expected "Well before Q1" and hasn't even made Q1 I feel rather frustrated. Having said that it doesn't change my position as you invest in the potential, not just how well it's ran. But given Ivan's record I thought a little bit of courtesy would have been applied given how patient we've all been. I hope this is reasonable.
I agree with the need for an update tbh, as this was expected well before q1 end and if honesty was promised then unless it's been rushed through at the 11th hour to avoid the need for a "delay" RNS then most likely the update will be a notification of a further delay like 2nd Feb was. If there's reason to hang around and the waiting time is clearly defined then I may average down off the inevitable drop due to a further delay to getting the 300k in the bank. Hopefully the less likely scenario is going to happen and we get a RNS at 3pm confirming the 300k deal is sorted and have a crazy final 1.5 hours :) lets see how it goes.
Thanks very much for the very informative posts lads, both recommended by myself.
Morning Terrafin, that's it mate. Forgive me if my figures are a little bit out but essentially it's $300k paid every quarter for either 3 or 5 years (one of the two) so a lot of money being handed over ultimately. So because of this they're not just gonna hand over the initial payment until the partners are 100% satisfied with the DD and that the processes / benefits suit their needs. It's a budding company and IC hasn't been there long either so it'll take time. Plus dealing 'transatlanticly' will slow the whole process down too. It'll take time and unfortunately means a lot of us will have our patience tested waiting for news. Best thing to do is switch off or concentrate on other shares in the meantime. I do believe it'll be worth the wait so I'm hanging around for a whole yet. Thanks for your post Terrafin :)
Morning Smudge, very sorry you feel like this but you have to go with your gut. It is taking a while I agree but I don't feel spooked enough yet into selling so I'm hanging around for a while longer yet. You have to do what you think is right. Best of luck with your future investments.
IC I mean, think I got mixed up between Ivan and IC lol
Great posts lads, I don't think IV would have said well before the end of Q1 if he didn't believe it. Sadly the DD has took well longer than he (or us) would have expected. I totally agree that if there was something fundamentally wrong it would have to be mentioned in a RNS due to price sensitivity. It will just happen for us when we least expect it, and yes I do think that the longer it goes on the more short term traders will sell and move on. Personally I'm not watching a 3 hour movie and missing the ending, that's why the Green Mile and Shawshank were such great movies, because they had powerful endings as well as a great story-lines. I'm here till the end, at least of the 300k saga then review my investment then. If there's more to come then I might stay further.
Yup, nice 2x 3.5m buys too. Surely it won't be long now before the re-rate occurs...
Evening rural I can't explain it from a level two perspective. But it's normally mms trying to cause panic by dropping it off every small sell, a bit like a shake. Only it doesn't work either as everyone is either too stubborn to sell and is waiting for the 300k RNS only and / or has totally switched off from the share in the meantime lol. Either way it had no effect. I guess it was a way to try and create volume, but it failed.
I certainly hope so Terrafin, it's been a long time in waiting for us PI's who are here now rather than when the glory lands :) lol
I dunno what's worse, a big sell or zero volume. Nothing's changed other than SH's boredom. It's just a pity there's no timescales so we've no incentive to know when something might happen. Just gotta keep the faith, keep on being patient and wait for the goods to be delivered.
That's the problem with sub 1p shares, a tiny decimal sell equals big percentage swings either way, so far due to the 5m sell it's gone the other way. We all know with INC this could also go the other way too, it's just inevitable though that you longer the company leave thew shareholders in thew dark it's inevitable that people will start to sell out and the SP will drop as a result. I'm still here, very much so but not much to say until we get that first contract in the bag. Come on Ivan!
Morning Rural, no nothing myself unfortunately when I sent an e-mail off. If you look at it positively you could say it's because news is due: If you were being pessimistic then you'd say they're ignoring their shareholders' need for clarification. I'll keep on waiting anyway as it's the RNS we're all after.
Evening all Sorry I've been quiet today, I've been stupidly busy at work so thanks for holding the fort for me. Of course I'm holding strong just hope we get a 'carrot' soon. I do think a rerate will be on the cards, at least 0.2 but I can't see why we won't hit 0.3p again even with the conversions since November. I do think something will happen before month end / financial year end. Just a gut feeling plus it's been since early Feb we had the last ops update. I'm sure Windsor didn't take a major stake to be out of pocket for months on end. It is all about patience and we have been, hopefully for not too much longer and the proportionate reward through a cracking RNS is imminent.
Cheers Rural you probably are right, on low volumes it's not worth them changing the mid price. Ha! Maybe I was trying to find a positive that wasn't really there. The frustrating thing is we believe we're so close to something major but haven't got any idea when it'll come. I just hope it comes without warning and catches AIM off guard. No reason why we can't do a XTR if not more with a contract win and promise of more.
Has anyone noticed this? Maybe I'm reading it wrong but are the MM's happy try and tempt people into selling so giving them a decent sell price knowing there will soon be a demand for shares? Anyone's POV welcome.
We are well overdue one now Terrafin, I know these things take time but it's been 1.5 months since the last operational update so it must be close. I can imagine getting that first order is the key here and I'm sure the herd will come flooding in once that is in the bag. I'm also pretty convinced that our patience and faith will be rewarded very soon, the issues of equity and conversions have been clues of that.
Morning terrafin nice someone broke the silence lol. Here's an extract from the November RNS. Under the terms of the agreement, Insetco will be paid 1 per cent. of face value of the bonds for providing various administrative services to QIOC and Melken including screening and monitoring of a portfolio of policies. The Company will in addition earn 1 per cent. of the face value of the policies for providing on-going screening and monitoring services. The on-going revenue will be payable in 20 quarterly incremental payments, as the orders are completed, over the 5 year term of the investment and provide the Company with reoccurring income. First orders for life settlement policies totalling USD$30 million are expected to be completed by 31 December 2014, generating revenue of USD$300,000 for the Company I wouldn't expect any March payment due to the dd as the first revenues haven't been received yet but will be 5 year income thereafter for 5 years. Fingers crossed we get this update soon.
Thanks for the words Miller and appreciate your calming perspective. I'm just excited about it but as you said can come across as ramping. Wasn't meant..I'm glad they're taking their time to get the foundations sorted now so it's better for future orders. Either way I feel secure here and know we'll be a lot higher than this when news is announced. Where that SP will be only time will tell.