Member Info for steve58

Looked at the interview again.
He does reiterate that lots of work has already been carried out regarding new deals.
Rhe failure of the Buffalo drill has slowed things up although the way he talks about new deals it seems that one at least will be completed very soon.

Good morning to you.
Seems the company are still active here.
Have e mailed nxt ceo a few times.
IMO looking good for the future.
If an ipo happens then would increase investment many times over.
Not sure if any shares were sold although if we were having a voluntary liquidation I'm sure we would have been informed by now.

Maybe an rto into leed.
Anything possible here.

He sounds very optimistic about the future.
At least one cash generating deal this year.

Once even a hint of a deal surfaces should be nearer 1p than .5p imo.

Nxt website still being updated.

We have a £3000 late filing penalty to pay.

Awful show by our directors.

I assume company is not now being liquidated.

It will be interesting to see the value of the nxt investment.

I thought loan notes etc could be secured against the asset acquired more so if it is cash generating.

I'm sure if a good investment came along they would find an investor willing to put up funds albeit for a substantial return.

Cash earns very little left in the bank.
They could always issue loan notes paying a good rare of interest.
Many ways other than dilution to raise money for future investments.

Hopefully not too long to wait.
Looking back at various rns's seems they were at an advanced stage in completing one or more.
The Buffalo failure had just slowed the deal or deals down a little.

I have to say the same thing.
They have only released an rns today.
Give it time.

They will probably spend many times that.
Debt finance and or loans will be then secured against the producing asset and repaid from the income generated.

They probably had some deals at an advanced stage in anticipation of a positive result at Buffalo.
Although Buffalo didn't work out this should hopefully not slow down any deals that were already in the pipeline.

If vendor finance is used then hopefully no placings will be required.
Future projects should be self funding to repay any finance taken.

Actually a fairly good rns imo and much sooner than anticipated.
They say they are fully funded for the current year. To December I assume.
Imo he had to go due to his comments made regarding champagne etc.
Not sure if he gets a payoff as he resigned himself.
Hopefully this rns shows the commitment of the company to forget the bad result at Buffalo and get on with bringing shareholder value into the company in a relatively short time.
The sp will hopefully react positively today, fingers crossed,

I have been informed that the nxt accounts have now been completed and filed.
Hopefully we will be updated soon by our board.

So they are far from finished here.
I think they are shocked by the buffalo drill results as we all were.
They will now try to bring a cash generating deal as soon as possible.
Hopefully sooner than we think.

They really need a £20 million warchest.
10 billion shares at .20p.
Looks awful but if invested in cash generating assets anythings possible.
Lots of other companies with more than 10 billion
shares issued.
I would like to think a new investment is weeks rather than months away.

Agreed.

Still hard to believe that they found little oil.
Maybe a change of strategy.
Buy in to ready producing assets.
Of course this requires cash.
That's the worry bit.

As I said earlier cash and tax losses should equate to £6 to £7 million.
Makes us just right for a takeover rto.

So with the tax asset and cash worth about 6 to 7 million pounds.

So we have spent in excess of £20 million and lost it
We should now be able to carry this forward against future profits if any.
Would-be worth in excess of £4 million tax savings to another company.

Less than half of what our tax losses are worth.