Member Info for THGambler

The source for that meeting was also the guy who said there was a £400m deal for the drug......
But on the subject of the trial, if it is a dud the fact they have stretched it out for so long will have a worse impact than if they just declared it unsuccessful in the first place. As we have mentioned many times the failure is priced in but that won't stop a mass exodus which will negatively impact the SP obviously. I think we are looking at a long road back to anything near 0.06s either way.

Personally I think they should not avg down on MODE especially with the limited funds left to invest. There are still CLNs to be converted in MODE so there is further dilution going to happen.
Apparently our BoD have met with a few companies in the last quarter but thats all we know. I think if there was anything encouraging they would have said like they did with CSFS (although that turned out to be a load of crap as well). They obviously can't come out and say after the meetings they have no confidence in their investment etc, so in this case i would say no news is bad news.
Purely IMO...

''Dont no why people ****ging of mode on here it's a new buisness so its had a few problems what new buisness doesn't,still think it has huge potential and it's a good entry point,going to buy more''

so Vela invested at 50p and then took another chunk at 55p so I think there is every reason for someone to be annoyed with the MODE investment, especially when they took away the bitcoin jar and changed the business plan...

Look at that conversion price....Ouch

The ironic thing is we are valued less than our investments and cash balances so it should be a good time to buy BUT there is zero sentiment here which has been aided by the BoD debacles and refusal to communicate with SH. Laiker is the only one who has skin in the game but now he is on the board he will be getting some of that investment back to sit drinking tea with the other members of the board. Do we trust the BoD to do any more investing?!

A government contract won for them hence why the SP is up 12% over there.
Makes our shares currently worth circa £982k.

Our Mcap is priced for a trial failure is what we are saying. Also there is no evidence anyone can find that anything is actually happening with the drug. As evidenced yesterday by Uncle Jim it was SGSC who said that commercialisation would be almost immediate, we are 11 months on and not a peep! But then again SGSC were allowed to 'mark their own homework' on whether the trial was a success or not to allow them to sell their 1.1b shares in VELA so their definition of 'immediately' could be a LOT different to the average person!

The only reservations i would have now is:
- If the trial is a dud then Igraine will take a hit which would further down value our investment there
- I'm personally not sure if Weshop investment is actually worth £427k

Otherwise MODE and CSFS can really do any more damage to us as they are both basically 90% down, if they fall any further it won't make too much difference.
CODE has/is performed well for us, the only real shining light in our portfolio.
KNB is a free ride but the SP is 50% from IPO!

The cynic in me just says VELA should have made zero investments and kept the money in the bank... LOL!
As everyone has said already, we needed AZD1656 to be the saviour but it has turned out to be a £2.35m mistake and whilst i write that the question that needs asking from the board is how SGSC were allowed to sell 1.1B shares the day after results if nothing was going to come of this. I genuinely think we would be higher if the trial was confirmed a dud, yes the SP would have crashed initially but there would be clarity on the matter and we could have moved on.

All at the time of writing:
considering we currently have an Mcap of - £3.867m
Investments:
Mode - 620580 shares @ 0.0561 = £34,814
CSFS - 645902 shares @ 0.0888 = £57,356
SGSC - lets set that to £0.00
KNB - 1,307,692 shares @ 0.0315 = £41,205
MTI - 250,000 shares ~@0.5544 = £138,600
CODE - 341,666 shares @ £2.63 = £898,581
RBSP - 1,200,000 shares @ 0.0231 = £27,720
SKLS - 675,676 shares @ 0.235 = £158,783
ENSI - 1764788 shares @ 0.485 = £855,922
WeShop - Valued at (by the BoD) - £427,145
Igraine - 23928080 shares @ £0.025 = £299,101
TSP - 6,000,000 shares @ 0.0460 = £276,000
Aeristech - 350,000 shares Not yet IPO's so value is what we paid so far - £350,000

Total Investments - £3.56m
Cash Balance - £649,000 (obviously less since last RNS with all the BoD taking their pay)

So currently if we write off SGSC we have a total value of our portfolio plus cash balances of:
£4.31m vs and Mcap of £3.867m

I'm as down on VELA as the next guy but as i mentioned yesterday even if we wipe off the SGSC investment totally the Market Cap is still below our investment and cash balances (circa £4.2m). But we have been calling the bottom of this SP since the 0.006s!! looks to be heading for the 0.001s, a factor the BoD don't seem to care about at all!

I would 100% vote for an EGM. The last vote on Brent where he managed to retain his position did not give him the kick up the arse we wanted speaks volumes. If 40% of shareholders voted to oust me I would be trying my best to prove them wrong. Brent on the other hand has been a child and rude in correspondence, part of the debacle with TSP and the lack of Comms coming from the BoD. Get them all out gets my vote!

Fair play aks83 but i fear you will be chasing your tail like the rest of us on this. There is nothing out there (I can find) to suggest anything is actually happening with the drug.

problem is we have heard discussions are ongoing for nearly a year now.... we were told a deal would be agreed almost immediately....

To be fair our investments and cash balances WITHOUT the £2.35m SGSC investment total over £4.2m so a failed trial is priced in. HOWEVER this does still include the Igraine investment and also the WEshop investment (the BoD have valued the weshop investment at £427k which I am not sure is particularly accurate).
In an ideal world the trial will not be a failure although all indicators suggest it is.

New lows reached today. The slide continues, with no signs of stopping. Wonder if the BoD care?

Think it will be regarding the £400m deal surely (winking smiley)?!?!?!

Thanks Hereshopin. My point is exactly that.

My VELA investment is awful as is my investment here. But you won't hear me ramping them to try get anyone to buy in either. As I asked earlier, what has changed your tune from your posts from a month ago? Asia team, according to you, were getting paid too much back then and now they have just received significant payrises...

Newuncle

Posted in: CSFS

Posts: 4,473

Price: 9.75

No Opinion

RE: 27% down30 Jun 2022 10:26
Because they are paying their staff too much money and basically skint with huge overheads to pay they cannot meet. CEO finally confessed he needs to raise cash to keep the lights on and pay for new acquisitions (which is a bit rich if he can't even manage costs on what runs today).

Newuncle

Posted in: CSFS

Posts: 4,473

Price: 10.25

No Opinion

RE: 27% down30 Jun 2022 11:42
So in 2021 revenues for the whole company were £2.3m
Share-based compensation to £2.3m, which includes £1.8m in share-based incentivisation for the new Asia team and the General Manager APAC and Middle East
Highest paid director received some £400,000
Employment costs £3.7m v £700k for the year before

It's like the management here have just ignored the basics of how to run a company.