The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
Inflated by hot air, now it's deflating just like any other balloon.
the out-going BoD are surreptitiously selling off on this spike? A few round-figure sells. Wouldn't that be illegal? Anyone know? I'd hate to think they're profiting from this.
This will now become a completely different company. They’ll have to have to change the name for starters. I can’t see “Evocutis - evolving skin science and rocks and mining and stuff” catching on! All “old” investors who were stung by the incompetence of the outgoing BoD can take comfort from the fact that the humiliation of Gwyn Humphreys, Tom Banatyne, Mike Townend and Darren Bamforth is now complete, having completely ruined a reasonable little company in record time. Businessmen they most definitely are not! For us, the story of EVO will quickly fade into history, but I’m pretty sure the dozen or so employees who lost their jobs, the scientists whose ideas were exploited and the investors who lost their shirts will not quickly forget or forgive. Good luck to all the new investors, but my advice is to keep your beady eye on the buggers running the show and make ‘em work for you, not just for themselves. THE END.
Six months since off loading the assets bugger all has happened. No doubt Gwyn & Co have resumed drawing remuneration and will sit on their hands for the next six months when they will then call it a day and return the remaining “value" to the shareholders (exactly nothing). The Evocutis BoD has behaved in a cowardly, unethical and scandalous way for the last 24 months and will continue to do so until the end. They are either criminally incompetent or criminally self serving. I’m sure their mothers would be ashamed of them. Its depressing that people can still get away with this sort of behaviour in this day and age.
I think Bojar resigned because he'd got ****ed off with the numpties on the Board. True, we should have seen it coming - even through our wooly eyes. Maybe he was trying to send us a message? Lesson learned - it's always worth asking why Directors resign. It is rarely "to spend more time with their family"! Anyhoos, VENN are up and running (http://www.innovenn.co.uk) and seem to have reassembled the team. Hopefully VENN have better commercial ability than EVO? But that won't be hard, as most nursery classes could do a better job than Humphreys & Co! QUESTION - is VENN a second bite at the cherry or flogging a dead horse?
Seven years of utter waste and the BoD will be sitting behind their accountancy firewall as clean as a whistle. They will be oblivious to the fact they’ve ruined TWO reasonably good businesses (Syntopix & Evocutis) and all the hopes and dreams of TWO sets of scientists. So much for good ideas just needing the right commercial team!? Humphreys & Co were so obviously the WRONG team.
Each their own, but you must be mad?! I still don’t understand how they get away with keeping going? Sell? Strong Sell? Run Away!!!
More to the point, WHY is this company still trading? Has anyone tried contacting them see whether they are actually implementing their “Investment Policy”? Of course they are not! They will be using the 12 months grace of the “Acquisition Timeframe” to bleed out as much of the cash to cover their own losses. Because of the BoD's dreadful behaviour in the last 18 months they need to come clean upfront on their remuneration policy. Not some retrospective bullsquirt once the horse has bolted. It is WRONG that ALL the BoD sit on the Remuneration Committee. It is WRONG that any of the BoD are still in post. It is WRONG that they are allowed to do whatever they like for the next 12 months without being held to account. AIM should get it’s act together and shut down this sad joke.
Anyone buying should take the advice being offered by Jimmywotsit very seriously. Read the RNS carefully. £300k at end of Jan. Since then they've had to fork out to complete the redundancies, get out of their lease and all the gubbins which goes with that. They were spending over £100k a month, but even with no staff or premises they may still be bleeding £50k a month. So there has to be next to nothing left. So how can they operate as an "investment company"? No expertise, no money, no idea and who would be daft enough to invest in anything they recommended after this? They continue to seriously mislead investors and I'm surprised its allowed. Back on 15 March 4PetesSake asked why the BoD had never issued a "no reason for rise" RNS when so many go suckered in 12m ago. The same question should be asked today. The huge percentage rises make it look really attractive to the inexperienced but its a complete sham built on hot air and misdirection. HERE BE DRAGONS!
....for very little but you would be buying a shell. The point is there is nothing left in this business other than the name and a plc structure yet the Board insist on releasing nonsense RNSs such as the one today. By all means buy the shell if you want a vehicle to reverse into. But most people on here are very cross because the value has plummeted nearly 20-fold in 12 months and just want it all to stop and the Board to get their comeuppance.
Little existing cash + Directors continued remuneration + no assets + no idea what to do = zero surplus at the end. Stinks like a week old turd in a fishmongers.
This is bonkers. Look at the article on Business Desk Yorkshire (thebusinessdesk.com/yorkshire/news/611149-evocutis-positioned-to-undertake-new-investing-policy.html?news_section=28381). Has Ellie Newton-Syms bothered to research her article? No staff, no premises, no assets so how come we still have "Evocutis offers a range of dermatology services" - NO IT DOESN'T!!! Yet still burning money like there's no tomorrow. Someone somewhere is laughing all the way to the bank.