Member Info for steve58

Out of a cows backside.

They even use the stuff to try to make money.

Someone needs a kick up the backside.

The longer this takes the bigger the chance of something happening to stop the financing.

If I wasn't 60% down I'd be long gone by now.

Great to ser aminex flying.

Why couldn't ADT had offered us a free carry on a percentage and some cash for the remaining stake.

The board seem to have messed it up completely.

Cannot even invest further until Ruvuma monies come in.

The liquidation and distribution of funds to shareholders is definitely a no go in view of the current situation.

Dragging on here.

Many shareholders must be getting very disillusioned with the delay.

If for some reason it doesn't happen then Harry and his team would have to go.

If ghe right deal came along I think shareholders would agree to further dilution.

Really need to get a much larger transaction in place to make money and enhance shareholder value.

An AD plant every three years is a complete waste of money spent.

Show the market that they can spend shareholders money wisely on profitable investments.

At least the fees arrangement has been terminated.

Seems they need the permission of some larger shareholders before share issues can recommence.

The company still exists solely to distribute the proceeds of the sale of NXT TEC whenever it happens. The investment and ultimately any proceeds thay materialise are held by the liquidator.

Hi Thompson

The company still exists on companies house and should do so until the investment is monetised and the resulting funds are distributed to shareholders.

The Nxt business concept seems to be expanding at a quick rate at last.

It is now classed as a late stage VC company. (Venture capital).

This means that it is gearing up for an ipo.

I keep updated by looking on the NXT TEC website.

News pages getting interesting and current and future projects as well.

The hotel is apparently being built.

ATB

Steve

That is correct, but probably easier to wait for completion.

I'm sure they will update on the cash position.

So the $3 million less any cash drawn that was not for Ruvuma expenditure.

It probably was anyway.

Any monies drawn for further ruvuma cash calls get added on to the $16 million total consideration.

Looks like only about $700,000 was for non ruvuma cash calls so should receive about $2.5 million on deal completing so about $18,500,000 less $2,500,000. So whatever advances were received on account of cash calls for Ruvuma makes no difference. We still get our full $16 million less non ruvuma cash.

A bit long winded but hopefully explains it.

Should double from here on completion.

Just realised the fees contract has been terminated and will end completely once the Ruvuma sale fee is paid.

Spotted ot on page 80 of last accounts at cos house.

Those were the days mc spiked to over £40 million on the news that 12 barrels of condensate were being produced from the ausible reef.

You might find the investment collective on telegram very interesting and informative.

Ifs placing is for a really profitable business then maybe it would work.

However they have squandered the millions they received for horse hill and the helium one investments so what’s to say they won’t do the same with the Ruvuma cash and or any placing monies. The problem is they spend hundreds of thousands on due diligence fees for investments they do not buy.

Thanks for that.

Try joining the scirocco telegram investor group you will find it quite interesting.

Agreed.

Although it would be good to claw back some of them here.

I would like to think that if the Ruvuma monies are utilised into assets that give instant income and profits that could well have an influence on the sp.

Running the company.

Opening the post.

A few meetings a year.

Does make us wonder what they can possibly do 46 weeks a year for the last four years given the level of activity.

They have sold off all of the legacy assets.

Purchased a 50% share of an AD plant.

Mustn't forget they changed the company earning strategy and the company name.

Not bad for four directors in four years.

I don't ever envisage seeing much of a return if any from the AD plants business.

Oil and gas is where the real profits are to made.

The one dyas investment would have been transformational for the company and the sp.

Just look back at the interviews when the deal was initially thought to have been done October 2019 I think it was.

We would probably have had a mc in excess of a billion pounds together with an sp of £1 or more.

We can't turn back the clock but it does make you wonder how things would be today if that deal had gone through.