Member Info for Thatslifebro

That sort of "mistake" usually gets spotted and corrected very quickly.

Yes, sorry pal I had a closer look you are right.

Actually looking at it again i am not sure about my previous statement as that 627k is for 6 months, my apologies. I think the company need to correct that paragraph, it doesn't make sense.

You are right in that it should surely say cash burn reduced by "TWO thirds" from 150k down to 50k per month. However they are defo saying cash burn is now 50k per month so I don't understand how you work out that it is actually 100k per month. The previous paragraph is an annual number of 600k, not 6 months.

Interims RNS out.

Costs reduced drastically (shame they didn't do that at least a year earlier).

£1m cash remaining and cash burn £50k per month give 18+ months of cash runway. Company not going bust soon as the negs on here predicted (4 months lolllll).

Positive comments on AI potential and on King Tide.

Phoenix Digital Assets PLC Related Party Transaction

Source: RNS Regulatory News

RNS Number : 9042P

Phoenix Digital Assets PLC

24 May 2024

Press Release

24 May 2024

Phoenix Digital Assets PLC

("Phoenix" or "the Company")

Related Party Transaction

Phoenix (AQSE: PNIX), an investment firm, announces that, as a result of the acquisition of the entire issued share capital of IO+ PTE Ltd ("IO+"), a company in which Phoenix held a minority interest, by Flex Labs Inc (AQSE: FLEX), Phoenix has been issued 17,368,421 Common Shares in Flex Labs Inc.

As Mike Edwards is a director of both Phoenix and Flex Labs, the above transaction is deemed to be a related party transaction under the Aquis Rules. Having exercised reasonable care, skill and diligence, the directors (excluding Michael Edwards) consider that the terms of the Share Purchase Agreement entered into with Flex Labs are fair and reasonable as far as the shareholders of the issuer are concerned.

The Directors of Phoenix Digital Assets PLC take responsibility for this announcement.

I like your optimism....2.2p i break even ;-)

I cannot quite believe what I'm seeing here today.....CLAI are BLUE. Be nice to see 2p by the end of the month.

I'm beginning to feel new CEO Edwards is a bit of a numpty. The shares seem to have been marked down heavily on not much volume which suggests to me that bad news is coming. We need a huge rabbit from a very small hat.

Oh dear, down 30%, shares virtually worthless now.

Looks like negative news coming (did we ever get any positive news?!)

In your frustration you forget to mention that Michael Edwards, serial entrepreneur with numerous successes, has joined as CEO and bought a load of shares. Clearly he intends to to turn this business around. Sell and move on or hold and be patient.....anything else is pointless.

I'd argue a board change is actual news, just not the sort of news you are waiting for. Same here.

No news? There was an RNS only yesterday! And thanks for making me feel better, I'm only down 90% ;-)

Strong buying interest today.....what's going on?

GST fundraise.....what a surprised after yesterdays RNS which tried to talk up their story but told us nothing new.

Interesting flurry of trades right around midday indicates some news leaked? Sipeum?

Well said Sharebel....so many bedwetters on here it's hard to see the wood for the trees.

If you lost money man-up, stop crying, move on.

Lastofadyinbreed there is a new website as per the recent company update............

https://www.getcel.ai/

The only rubbish is suggesting market makers would take on 85 million shares in the hope they could off load them to retail buyers. Why would they want or need to take such a high risk...... they would be seriously out of pocket already if it were true and it isn't what market makers do.

Still waiting to hear who bought Matthew Lodge's shares because it certainly wouldn't have beeen the market. RNS due on that. Nobody would have bought all those shares if the company was about to go into administration. Therefore at these levels there is nothing much else to do than wait and see. There are some understandably unhappy shareholders and ex-shareholders on here but I'm going to hold and wait to see what Matthew Edwards is up to.