Magnus Magnusson - Ramper12 Aug 2020 12:34
For all the genuine investors out there - please take the posts from the above gentleman we a huge pinch of salt. Some are suggesting he is “Small Cap Picks” from Twitter - could be as he is also a blatant ramper. Please DYOR.
I’ll fact check one of his statements in a post about 30 minutes ago - “I3E are rolling in cash”. This is not a correct statement. After paying for the Canadian Assets - someone calculated that they will have £8-9 M in cash. It could be less due to finance charges and other fees - however if you take a look at the last financial statement . Admin and finance charges run at nearly £10m a year. This is likely to be higher going forward with Gain and Toscana assets.
Add on that their talking about drilling wells in Canada at $1m a pop, additional funds for Serenity, other Canadian Deals - it’s clear their not rolling in cash. They have breathing room and very promising prospects - but certainly not rolling in cash.