Member Info for smudgedan

So, another interest free unsecured loan from the same shareholder this time for £500k. With the amount they have loaned thus far they could have just bought the company.

cheers, yes i wouldn't mind those trades being investigated as there were quite a few biggies in the lead up to suspension. Possibly the administrators of Smartepay but still should have triggered a TR1 if all the same individual

Good to have you on board

My take is they have dumped the Paycorp business in order to ring fence the VAT liability. The business which flowed through Paycorp can be easily redirected through Emex instead. Also, pretty much all of the Paycorp business was sourced through companies in which PJ has an involvement, so the threat of reputational damage, customer slippage is mitigated in comparison to a business model with a multiple customer base. In my view they have dealt with the situation in the best way available to them. If they can manage to maintain the growth trajectory in spite of this hiccup and present a trading update and audited accounts to demonstrate this then the scepticism will melt away. In the interim, the wait continues. ATB

Yes, I think you have hit the nail on the head with that summary.

tried emailing you but came back undelivered.

Thanks, I dropped you a message on here but possibly you can't receive it as may be for premium members only. Failing that do you have a throw away email address?

Change of name and investment policy it seems http://www.investegate.co.uk/mercom-oil-sands-plc--mmo-/rns/notice-of-agm/201602081750024386O/

Hi, sure, are you on Twitter? I am @smudgedann on there

Thanks for posting, would certainly be interested in any feedback you receive from your contact. ATB

Thanks for your informed post.

Are you a holder in Boxhill?

Not worth selling at these levels for me.

Yes, looks a right shambles. Guess Allenby just had enough

Traipsed all the way the Excel arena. Tried to find some dirt and failed. Went home. End.

I think the plans that fast will have are in a different league to the flotsam and jetsam that make up most of aim bio pharma. Harry will be thinking big.

Had a read of the article and can't really argue with most of the comments made by Cynical Bear. He was actually pretty balanced in comparison to some of the other articles he has written (CHAL for example). Equally there is nothing new in there. The bit about the shareholding is outside of the companies control and the revenue slippage for a rapidly growing small business is not particularly unusual. The history of the management has been well documented, so it comes back to the issuance of the results or lack thereof and subsequent suspension, which probably prompted the article in the first place. So the wait continues....

Below are some thoughts following the AGM yesterday Firstly I was the only PI in attendence. I think this was a surprise to the bod, all of whom were there. It also made for a slightly surreal voting process. As usual for these events and as expected the BOD were cognisant of releasing any information that wasn't already in the public domain. The bod clearly read the BB's and I think were expecting a few aggrieved shareholders to turn up so may have been relieved by the poor attendance! I was told that everything in the business is progressing as previously communicated. The EMEX deal is going ahead (they are contractually bound on this) and they are working closely with EMEX. They reiterated the point about cost savings achieved as a result of bringing EMEX in house. They confirmed that they hope to release the audited accounts shortly. But did one expand upon that. All resolutions passed other than the accounts sign off as subsequently reported by RNS They commented about some of the wild theories on the BB's and I said that people's imaginations understandably go into overdrive when a share goes into suspension. They advised that they wished they could comment further but were bound by the rules. They were talking about hoping to see more pi's at the next AGM which will be this year once the accounts are released

What's your twitter name?

Think your twitter feed has a lock on it. You need to follow Ian or me on there in order to be added