Member Info for THGambler

I think that sums up everyone's thoughts as well Bouncer!
The next quarterly update won't make for very good reading as ENSI will have had 25-30% shaved off its value over the quarter. We should have an improved cash balance however.
The 2 most worrying investments made by the BoD are the TSP and Igraine Investments, whilst that sounds silly as they are not the ones that have lost the most money or % but they have never been up on those investments and anyone doing a quick bit of research could see they were rubbish investments and combined they have lost nearly £600k in value between them so far. Won't bang the drum too much again but if we had a competant BoD who actually communicated with SH then we would not be in this mess.

Just a reminder how our investment in TSP came about...

Further to the announcements released by the Company on 14 June 2022, the Board has made further enquiries of all parties about the reasons why Vela was issued with the new ordinary shares in TruSpine without formal Board approval. As noted in the announcement of 14 June 2022, whilst the Board had been considering a potential investment in TruSpine, it had not formally agreed to make an investment prior to the announcement made by TruSpine on 31 May 2022. The Board can confirm that on 26 May 2022, as a result of an administrative error, a placing letter was signed and payment made by the Company's retail stockbroker and custodian before the necessary regulatory approvals had been obtained. In order to prevent a recurrence of this procedural error, Vela has reminded its retail stockbroker and custodian of the existing procedures that are in place in respect of such matters and in particular has re-confirmed to its retail stockbroker and custodian that placing letters should not be signed on behalf of Vela without explicit instructions from the Board of Vela.

James Normand, Executive Director, said: "We consider TruSpine and its products to be a perfect example, both of the type of business and of the disruptive potential of its products, of the type of investment in which Vela was established to invest".

Cheers Dave, yes VELA appear to have no taken up the warrants but who knows! Either way if they are raising money at £3.00 then that would be 25% up on our price paid. Bodes well if and when they IPO.

Cheers for that Joe.

Thanks Golitha! nice to have some sense!

Just report his posts, hopefully will get a ban of some sort. Very boring reading his posts. There was a time when there was some healthy discussion (good and bad) on here without Joe clogging up the board.
As we have discussed before we are valued way below live investments and cash balances. VELA aren't going anywhere.

There will be no shocking RNS. PIs get bored its a simple as that. We would have all sold up in hindsight but I assume many, like me, will not sell while there is a tiny possibility something comes of the SGSC investment.
VELA has been on the slide for 18 months (ironically since the ''positive'' trial results were announced). The only way VELA gets out of this rut is if there is positive news on SGSC or we have a steady stream of decent investments (think CODE and ENSI). Unfortunately our good investments are not consistent (think TSP, Igraine , MODE, CSFS etc). Unfortunately the market does not have the faith in our BoD to conduct these investments and that is why sentiment is so low and why the SP reflects that.
I have said before if there was a change of BoD (or they can get a run of decent investments) sentiment could change here and the SP could get back to fair value.

Just to come back to the cash balance. In the latest RNS they stated they sold 265,000 shares in ENSI at an avg of 90p = £238,500, unfortunately due the period of this selling covering 2 quarters I have no way of knowing if they added some of these proceeds in the last quarterly update cash balance. If they did not then the £238,500 minus the new purchase of £125,000 should show as an extra £113,500 in the bank.

Must be one of the only shares that (hypothetically) they ceased trading and stripped the assets and sold everything and split the pot among shareholders we would all be in a better position than we are today. crazy really considering we sold some ENSI shares for 90p average and bought back at 70p with that SP now at 76p!

The next quarterly update will be interesting to see what our cash balance is after selling and rebuying ENSI. should be a bit more than last quarter i think.

ENSI seems to moving steadily in the right direction. BoD have done alright on this one, credit where credit is due!

I'm sure we will be informed when/if Aeristech announce an IPO date.

Where does it mention interest?

Joe it's not our fault you cannot read an RNS properly so want others to do your research for you !

''Vela has entered into a subscription agreement with Aeristech, by which it has invested £350,000 in Aeristech, funded from the Company's existing cash resources. Vela has subscribed for 145,833 new ordinary shares at a price of £2.40 per ordinary share, valuing Aeristech at approximately £37.8 million at the issue price and on a fully diluted post money basis. Following completion of this funding round, Vela holds 0.92% of the fully diluted issued share capital of Aeristech.''

Where does it say Aeristech is worth £5.1m?? You must be referring to the funding £5.1m pre IPO FUNDING round?!

Before making a pillock of yourself just learn to read.

Useless JB

Ah the true Jimmy comes out! shout placing to see if anyone will sell up and try drop the price to your buy in level! the same Jimmy who told us there was a £400m deal for SGSC? you seemed to have changed your tune!

Also, how much do you think the running costs are? the wages are roughly £60k for each director and a small office so they won't be running out of cash anytime soon. we had less cash 6 months ago. such a stupid statement to say a placing is coming

Jimmy what are you on about? why would we need a raise? Last quarterly update said we had £864k at end of 31s DEC 22. We have invested £50k in Ethernicity and £125k in ENSI take off some running costs etc and that would leave roughly £650k in the account?! why on earth would we need a raise?!

Yep more buys than sells and Joe is here telling us it needs to be terminated!
Still undervalued no matter how bad the BoD are.

Wow Joe, I think a village may be missing their idiot.

Well someone just bought 32m shares so i guess they don't agree with your thinking

Value of Live investment - £2.9m
Cash in Bank £850k

Why does it need termination?!