Member Info for THGambler

As we have mentioned many times, we are valued way below the value of our investments and cash in the bank. The reason we are so far down is all down to the BoD and their inability to interact or clarify anything with Shareholders, which has put sentiment to an all time low. No one trusts this Board to make investments anymore.
Its one thing after another:
- Allow SGSC to sell their shares on the back of a 'successful' trial (obviously not a success) decimating the SP
- doubled down on the same investment by investing in Igraine (now 50% down)
- Scammed into investing in Truspine ( now 40% down)
- Appointed Laiker, Laiker leaves after 3 months
- Laiker manages to sell his entire holding at double the SP (not a peep from the BoD)
- All of our portfolio is heavily underwater bar ENSI & CODE (Yes, we have a free ride on KNB but that SP is 50% under our original buy in price...)

Zero comms from the BoD but they continue to pick up a hefty pay cheque. I hope we all voted the right way!!

As predicted the BoD not commenting on last weeks shenanigans. I mean why be transparent when you don't have to I guess.
Quarterly update due soon. Wonder how they will manipulate the figures this time

Lol, look how easy it is to start a wrong rumour!

If Vela stay quiet in this then it's an absolute farce. How can they expect to have 1B shares sold at double the SP by a Board member and think no explanation is needed.

The TR-1 clearly states the threshold was crossed on 20th Oct. He's got rid of them somehow and we need to know why otherwise this looks as crooked a company as it gets.

Why would anyone or institute by his shares at double the share price?! Makes no sense. I'm not sure we will ever find out what's going on such is VELA.

roy you know VELA, nothing will be explained.

If only we had an PR and IR company who could handle these questions...............

Got to love VELA, only company where when they release an RNS you are left with more questions than answers!

Truss will be available shortly!!

We still need to know the details of how he managed to get rid of nearly 1B shares at 0.04 though.

Anyone over the 3% threshold has to declare any disposal or increase. Once they go below 3% they do not have to notify.
We should have a TR-1 today notifying us of the disposal of Laikers entire holding,

This just gets worse. He's been on the inside so knows more than us, and whilst he has got a great price (relative to today) to sell, this does not bode well. dumpster fire here.

how can he get double the SP to sell though?!

wtf is this:

20-Oct-22 08:01:24 0.04 977,799,500 Unknown* 0.0175 0.02 391.12k O

Brilliant, the only board member with any skin in the game has left after 3 months. Shambles

Hi BigDave. My figures are the same as yours so these new share amounts shown on the website are a bit of a worry as obviously they reduce our holdings in each company!
In an ideal world the BoD would clarify this but as we are well too aware this will not!
The next quarterly update will be interesting to see how they are doing their figures this time!
Just been going over our investments and hadn't looked at Truspine for a week or 2! wow, just the 40% down on that mistaken investment so far! To be fair that brings it more in line with our other investments performance though! Vote to BoD out!!

Exactly. So if the loan note holders don't convert then i can't see how MODE have much £ left based on the cash burn of H1 2022.

Neither have much hope of reaching IPO levels especially as they will have to both 10 bag to get there. The fundamentals of both do not support a higher SP then they are on currently. I'm almost certain MODE will have to raise some money soon or at the very least convert all the CLNs for them to keep the lights on.

As Jim says the fact our average is over 50p makes any takeover of MODE rubbish for VELA. Also worth pointing out there has been nothing but a rumour circulated on BBs about a takeover and you will notice those who started it have made their 10% trade and sold and are now on their merry way. A failed trial is priced in but that won't stop the SP sinking further if this is confirmed. B
BoD are inept at best and should be held accountable.