Member Info for THE_CHAIN

They made that money from CRML and had to hand it straight to creditors. No cash in the bank.

Recyclus needs to pay its dues or down goes the ship.

Sorry stocks and stuff, I don't think I'm missing anything. I think tm1 are sitting on 0 or next to 0 cash.

We'd have the accounts by now if they could prove going concern and get auditor sign off.

They sold crml for £1-2m, all of which would have been needed for defaulted interest payments. They also issued 854k in shares as payment to creditors.

If we are lucky they have paid off all defaulted interest and some of the balance.

As it stands we still have obligations to creditors, even with a reduced balance, with going concern in mind, we cannot continue to service the debt.

So... Recyclus needs to come to bat now, more than anything to save it's own skin.

Close brothers saw fit to loan £1.1m recently to Recyclus....

They are now recycling BES battery packs, have been rubbing shoulders with Tata and an Indian investment bank.

I'm not saying your wrong BT, tm1 is no longer the funding vehicle, but the anchor that could sink the ship, but I wouldn't say your suggestion is "the only way forward" with such certainty either.

Agreed, absolutely no hope of that at present.

TM1 has exhausted every one of its own lifelines,

Only recourse for the bod now is to repay the debt to tm1 if they wish to save Recyclus.

I'm of the mind they will try and do this, as they have proven they will do just about anything to keep it afloat, no matter who gets burned along the way.

Tm1 is in a very precarious position, more so than ever.

The renegotiated debt as per the last accounts was due for repayment this month.

Atlas also waived their right to immediate redemption and penalty interest for a year and a day when the cos mcap fell below 5m, last December.

The clock is ticking, and tm1 have used all their life lines, they cannot raise, or issue shares as payment with a sub par SP. And they've used up CRML.

The onus is now firmly on Recyclus. Will they have done enough to either start repaying debt or secure funding that allows them to repay their debt to TM1.

Last roll of the dice.

Read the 1st Nov 2024 RNS, the shares will be suspended if the accounts don't materialise.

I sincerely doubt it.

He might finally be right unless the two muppets running the show can get recyclus to profitability.

There's a chance interest payments are up to date and a portion of the balance may also have been reduced accross creditors, thereby reducing future interest payments, and hopefully no longer accruing penalty interest. At least for now.

We have the 930m headroom, but that's obviously not of much use for conversions whilst the SP is trading well under par.

Recyclus needs to pull it's weight...

Surprised buried treasure hasn't been all over these new posters 😂

Accounts due soon, usually late.

Swannys debt repayment was extended to November. That's nearly upon us. Very much doubt he's in the mood for another extension, so they want to have paid that...

His Tr1 earlier in the year makes sense now, he didn't buy those shares, they were part of the first subscription, "£250k to certain investors"

Hence him then dumping them...

855k in value issued to atlas/Swanny etc via subscriptions

Most of Crml sold for f all, should have been the golden ticket, maybe realised £1-£2m

Potentially have done enough to stay afloat for now, Recyclus needs to become profitable and start repaying it's debt to reduce the balance and keep up with interest. Last chance saloon.

If it turns out we still own even a small percentage of CRML, at today's pre market price of $32 that would be very nice indeed.

Hm, let's see 😁

Gotta be a leak....

Surprised nobody has commented on last night's holdings in company rns, Atlas in receipt of 150m shares, completed 12th september, part of the 406m subscription done in April.

Discuss....

Crml after hours $13.58 as Trump admin weighs up taking a stake. Even a small 5-10% remaining holding would be material to the companies Outlook.

Hardly a revelation, I sincerely doubt with the existing customer base, Beryl, AA, Halfords, Ocado etc that there have been 0 batteries for weeks....

Although the rest if true, I do sympathise with the chap, and completely understand why he would say what he's said.

Sausages here talking tosh again 😂

Christ you really are unhinged, you get so excited when I post 😂

Youve no idea, admittedly just as I don't either, how many crml shares they have left or what they sold for, or exactly what the proceeds where used to pay for. Moving on.

Par value is 0.001, Atlas where happily converting at par and selling sub par, something you absolutely delighted in last time 😂

So why not now?

I'm still here wkw, just nothing interesting to discuss at present and bored of going around in circles with the likes of you.

Strange absence of conversion notices and no signs of forward selling from Atlas....

Some good news from the GM today, August black mass sales of 40 tonne, so 80 tonne of feedstock received at an average of 2k a tonne gate fee, 3.5k a tonne or there abouts black mass sale.

Thats quite clearly a buy, look at time stamp and price 😂