Member Info for Takayama

Morpheus. Yeah, it’s hard to be positive. But its proved a point. I didn’t come here for oil and gas . I’d have gone elsewhere. But heck, let’s just make money. If we’ve got the skill set, let’s do something!

Good points Longlad. The difficulty that someone like Ed will find himself is he has inherited a company that is supposed to be investing in cutting edge tech. Boards are peppered with people with different skill sets. The board probably has the relevant skill set for the ‘corporate’ side but there is an understanding of a particular sector that the board may have picked up over their career that isn’t the reason why they were hired. But they go to the pub and find that commonality. We’re just humans mate, full of flaws but full of surprises too. I’d say that skill set falls under surprise and it’s worth capitalising on of it brings in cash.

It's always a gamble at what time you exit. Of course it may go up further. the board obviously had a plan and stuck to it. Get greedy and you can get burnt - I'm sure plenty of you guys have.

So what to do with the £80k or so? It's free money, let face it, so why not just use it for a buy back at these ridiculously cheap prices. You'd get around 5 million shares. That's around 3% of the issued share capital. Catch the market off guard. Finally, I'm convinced. The board have expertise in oil and gas. Let's use it. More such transactions. Doesn't matter to me ultimately if it makes money.

To be honest, this is now on a recovery trajectory and so will hit 300p far sooner than 3 years time. The company is leaner and more profitable than pre lockdown. Lots of legacy issues have been dealt with. I wouldn't be surprised to see 300p by next summer. Few people will be selling with this chart. Slow, steady upward rises. What could be better?

Well, he did say that’s where the expertise of the board was. Perhaps they should have invested more than a measly 1/4 mill!

Reefles: 😂

Barwick: I Agree and hope you’re right but I’d be surprised about any such recovery in SP. AIM is retail market and sois driven by sentiment. I’d say a private equity buy out is more likely, as yes, the stock is undervalued and the company is well run. We’d see a good return then. There is value but realising it is the tricky part.

I imagine he’s looking for a doubling at least. That’ll pay his salary for another year and he’ll think it buys him some credibility so he’ll go shopping again. In the meantime he’s wasting time by not doing anything. At the very least, START THE BUY BACK AT THIS LOW PRICE!

It's great that people are making money and I hope the positive sentiment in the RNS actually realises itself. But of course, if the CFO is resigning and an immediate replacement isn't being sought 'to save salary costs' suggests that the positive Q4 sentiment is a guess at best and there is nothing beyond that. If the board's optimism was based on some sort of insider view, then they wouldn't need to wait to appoint a CFO as obviously, they'd likely need one in short order, - within the next three months and they'd be just as confident that cash wouldn't be an issue! The board are worried about cash running out and that is the big story here. They have no reason to believe the Environmental Permit question will be answered in the company's favour. It's only a feeling in their waters! Watch the SP plummet when people catch on. Sorry guys.

That Ed is posting on X shows how behind the curve he is. Not only about where social media is, but also about the impact such a video would have. Who does he think would care? Does he really thing anyone with any money to invest in something would care the least bit about a video by an AIM CEO on X of all places! The video is pure vanity (unpack that one Ed!) rather than being any positive addition to the company. He really should stop wasting his time and focus on building value in the company. Creatng value is what will attract investors. Not silly videos. A good first move would be to save on salary costs. Sack Pascual and then lets move on to sacking or simply reducing the salary of a second director.

Point about Wynn taken, why leave if everything is so positive to risk elsewhere? But nevertheless the SP shoots up today. Often, this suggests some sort of leak somewhere. Of course, it could be speculation based on that line about confidence, but this is AIM. CEOs always say stuff like that.

Pascual has got to be on the way out….

Gallmat- the discount to Nav is a result of Ed’s poor behaviour as a CEO. He’s a typical junior CEO with little self awareness unfortunately. This hits SP as well as negotiating skills. The exit from Leap was a disaster as Ed tied himself in knots with constant boasting pre-exit. He should have just shut up and stood firm and say nothing. So he lost loads of credibility. Typical AIM as you’ve said. Two investments stand out for me: LGP and CFG. I think an exit is a good idea but not under pressure. We should liquidate our holdings because it’s a good time to do so rather than because we are simply keen to do so-in which case we lose negotiators advantage. That’s a big part of the LEAP story. Pascual is on the board and had the job of keeping on top of what was happening at Northern Leaf. He failed, and we were blindsided because, basically, he’s rubbish. We should sack Pascual as payment for that failure, recognise the lack of expertise on the board, and use £1,6m of cash to buy back half of the issues share capital, leaving £1,6m to be shares between the remaining shares (that’s a 2p dividend), and just share the investments when they realise their value , for further cash payouts. So yes, there’s value if played correctly

I think we’d be doing better if that was the method used Longlad

dagz - i think it's time to derisk here. with a board winding down (i believe we only need two directors), that will minimize wage costs. then we only need a watching brief on existing investments, and essentially shut this down by (a) buying back another slice. last time i looked at lr 12.4, the ceiling was 15%, but my reading of lr12.4 is that shareholders can vote to go above 15%. i'd be happy with 40 million at an average price of 2p, with no cashback for investors. that would use only £800k, reduce our issued share capital to 160 million. each 2p invested in seed gets about 5p of (non-cash) asset - happy for someone to challenge my rough, back of *** packet, calculation. this seems like the surest bet for our money and keeps risk stable. once that's over, we can look again and decide if we want another special dividend. i'd be indifferent tbh, but fine either way. buying another slice of cutting edge company requires real insight, not just luck. investing in pnr doesn't show insight any different to that whcih we, on this board, have.

Good idea Mats, but I have to admit I deleted my Twitter app a few months ago as it seems to be mostly a bucket of festering pizz these days and adds little value. I’d be indebted if you don’t mind using your account to ask him though. Plus, from what I recall, you were one of the very few normal people left on Twitter so will have a chance of some reply.

It isn't under just yet. I do question sometimes how investments are written off before they are liquidated. I note that Geoff Eyre wrote the following on his Linked In. It suggests there is still value there and the company is operational. So what has happened to our part of the original investment? Is it still zero? And if so, why? "" I (Geoff Eyre) comprehensively restructured the company and avoided its liquidation by pursuing several transaction options in parallel, securing £2.5m of investment including a waiver of the Takeover Code (first time it’s been granted in 15 years), restructured £10m of bank debt achieving a substantial reduction in interest payments, implemented payment plans with trade creditors, overhauled the company’s strategic plan and implemented substantial operational changes.

⁠⁠Following the successful restructuring, all 2024 cannabis production is being forward sold, thereby achieving profitability during 2024 and generate significant cashflows from 2025 onwards.

Unusually, there isn't a flurry of buying or selling before the AGM. This can mean one of two things. First is that there isn't going to be a strategy announcement and nothing will happen. Or second, Ed is going through a phase of maturity and resisting the urge to tell his mates how big his third leg is and how everyone is going to get rich if they invest in his company because x, y and z is about to happen. Let's hope it is the latter and his hormones are now under control. We may actually see people starting to believe in him if that's the case. The lack of activity really begs the question, why have we got so many people on the board. Has anyone fed that officially into the question list? I'm too lazy to bother.

Whilst I get Ed may be feeling a little under pressure to invest in ‘stuff’ I, for one, hope we don’t see any more punts on AIM type stocks. I’d have thought he’d have learnt his lesson after his last pint onAIM. He may wish to chance his luck on ‘LuckyLady’ in the 3.40 in Chepstow tomorrow if he’s really feeling he wants a ‘sure thing’, but please, not with our money.

Lol! Not sure it’s worth my while, but I appreciate the sentiment! Hey, I do quite like fishing though, and the sort that is a step up from the bottom troughing stuff that Ed gets up to. ;-) 😝