RE: TW15 Jul 2024 14:43
thanks bazza, just listened. i have been having a little exchange with him, fed up of his bull****. he did what he usually does and goes off in different directions trying to confuse the issue. if he stops i will stop, if not, it will be a gnat at a bbq! my post below.
now that the company has issued notice of a business update you can strike that gripe of your list, it might be worth asking soh if he would do the same for his shareholders, i appreciate the sun shines out of his **** but we all make mistakes.
now on to the cash flow negative acquisition. as per the rns dated 25/1/24 it clearly states "immediately revenue and profit accretive, as well as cash flow positive, with additional potential cost synergies.” on page 25 of the im presentation on the 22/3/2024 it states "cash runway of group extended following acquisition” i also had this confirmed by the company at the time, after every expense, finance, interest, def con etc the acquisition is cash flow positive from day one. the def con is linked to preset targets and those targets more than cover that expense.
a quick note on the interest bill, you say in bearcast on saturday that this bill will be close to six figures, again, that is just plain wrong. on page 26 of the im presentation on the 22/3/2024 it states "3 conversions to date equating to a reduction in the bond liability of £210,000 forecast interest expense c£55k at current level of conversions.” conversions as of today are £960,000, so the interest bill will be nowhere near six figures. you also state the company will run out of money by the end of this year, again this is untrue.
even without modi this acquisition is cash flow positive from day one! and when the modi forecast does land, let's remember it all drops to the bottom line, zero cost to sbtx same as croda.
as i have said many times, your distain toward sa has clouded your judgement and you have made and continue to make many, many mistakes when reporting and commenting on sbtx. you dont like the cb, i get that, you dont like ofori, i get that, you are entitled to your opinion. it is quite clear why sa has taken this acquisition route because croda haven’t delivered when they said they would and he wants a safety net. it's the right thing to do even if you believe he has picked the wrong vehicle and the wrong passenger, again you are entitled to your opinion.
you really have to stop with all these false claims and statements, investors and subscribers look to you for an honest and balanced view, you have certainly failed where sbtx and sa are concerned.
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