RE: Poaz22 Nov 2023 21:47
The company told you all nearly 6 months ago it was virtually out of cash. It had around 400k left.
They then settled the Logiks case, and they were asking for 300k, so how much they had to pay to settle that isn't known due to their insistence on confidentiality so shareholders are kept in the dark, but it was likely to be 200k or more, because that's why they haven't got enough left over to pay the lawyers who brokered the settlement for them, who want 108k!
They've continued, regardless, to take their directors salaries and in view of the dire financial situation, which they noted in July, you would think they would have been honourable enough to say they would forego those until all high court matters are done and dusted, but no, they keep on scraping the barrel, and leave shareholders with nothing. No talk of dividends now is there, as they can't sell anything, and they now have to revert to the High Court if they want to try and sell anything and explain to a Judge what exactly their financial circumstances are, and I can't see that happening, when money seems to have been pumped out of the jurisdiction to heaven knows where. They will want to keep that secret as well but I'm sure they will be moving it around, and in moving everything possible out of the jurisdiction, there is nothing left for shareholders when they finally de-list!
No revenue.
No mining.
No assets sold, not even the sand! Mind you Butlins might offer 50p a bag for it!
And heaven help them if they take DR's supposed offer of 75% of the cash needed to pay off Gowlings, now that will be an eye opener!
Obviously my views!
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