Member Info for TruroTrader

I think that Simon has to have his name cleared of whatever wrongdoing he is supposed to have done. I think that is the only reason that the government approved loan to pay for the May '23 large contract has been held back. I don't think it is coincidence that other new contracts have not been announced. I support Simon but this cloud over him is the only reason I think that SRT has stalled. We can't survive, in our current guise, -on just em-trak revenue.

I could be wrong of course but I can't think of any other reason for the loan delay.

Thanks goodapple, impressive specification (even if I only understand some of it!) Didn't see a price though. At the last AGM Simon seemed to think around £1500.00 which I thought was a little low?

I said last month that from now the news should be good re progress and sales and the last 2 RNSs have so proved. In addition to the main 2 contracts we seem to have some 5 smaller orders of which one may well be expanded. That, to me, bodes well for the future. I'm pleased the excellent Chilian test report is on the website - I don't understand it but it will mean something to somebody!

John, if you think about it - if there was a choice that the Kosovan government could decide not to pay then Dentons and the other three 'investors' who put up the seed cash plus the KC may not have been so keen? As I understand it the arbitration decision is binding.

When Philip Kirkham was CEO he used to go on a platform - Director meet Company or something? As you say a good story to tell.

Hi Dibs, just re-read the Interim Statement of the 22nd of May and while it is some 4 months old the general tone is positive. I also think a cash call is unlikely. It also seems the aerospace sector is at long last on it's way to realise it's potential. Looking forward to the year end report which will hopefully show we are at last growing the business. Onwards and Upwards!!

Hi John, long time no speak. Pretty positive for you giving us 75%. However the reality is that if we win the legal costs my rise re the pay-out amount. It shouldn't but there is a tendency for this to happen.

EG Say the costs are £1 Mill and the pay-out is £2 Mill we will share £1 Mill amongst us. If the pay-out is say £10 mill then the costs may rise to perhaps £1.5 Mill. Strange but true - it's the way of the world!

Good to see a gentle SP uplift over the last fortnight or so. Anybody any info on the May '23 contract or the investigation into Simon and others as per the RNS 24/04/24. I've said before I totally support Simon. In think that maybe this cloud is one reason we've no new contracts - very frustrating!!!

Not just Dentons Radika. As I understand it in May 2021 a specialist KC called Samuel Wordsworth was instructed also on a 'no win no fee basis'. In addition, at the outset, three investors put up enough cash to allow Dentons to appraise the situation. This appraisal resulted in their offer of no win no fee. They will probably be charging either a percentage extra on their original costs or an interest payment.

However the upside is that no further costs have fallen on Fox, ECOB or shareholders. There is a tendency in these cases where the final fees have a relationship with the amount granted at arbitration. So we just have to wait and see, but as I've said this arrangement adds to my believe that we will have a positive outcome.

Hi Radika, The arbitration is on until we're told otherwise! One reason we hear nothing is that a no win no fee deal has been struck with Dentons which means there are no cash calls. This no win no fee deal is, in my book, a clear indication of confidence in the final outcome. The only fly in the ointment is that the award could be small.

Hi StanAccy

It's more of a gamble at the moment rather than an investment in my view. What would you like to see as an investment level?

Hi bluerill, as you say not for widows and orphans. However the gamble is in my view getting less risky. I said on the 21st of August that we should be getting positive news and the TR-1 on the 29th was I think the first conformation of this - it sure as hell put my recent £500 top up in the shade!

We are now in production into 2 meaningful contracts with working capital to hand. Hopefully with the recent production line improvements we will be able to construct a second line as the cash comes in.

You never know one day we may get some arbitration cash and then eventually - wonder of wonders we might even be able to implement Stone Alliance!!!

Hi magna,

Well, Let us hope that with a bit of luck he'll be right one day !!!

Hi giancotti, Yes the cloud needs to be cleared. The May '23 contract is stalled because of the funding delay. We've no new contracts since. The 2 contracts announced today amount to £3.4 mill over a year - just not enough to make a company profit.

It's worrying me that since the May '23 contract was signed no new ones have come in. We should have had a couple since then. The Nexus delay means we have missed this season and possibly missed getting in the European boat chandlers brochures for next season.

I've said before that I think that the CEO, Simon, is fundamentally honest and to astute to get mixed up in any thing dodgy. We need this clearing up quickly.

Hi Monty888,

Not to sure about your comparison re Harland & Wolf. We have just one contract signed that is stalled because the customer, unexpectedly, has no money.

Hi goodapple, I've looked on the UK website and there's no mention of nexus there. I wonder if it's a regulatory thing as you'd have thought an RNS reach would be in order if it's actually for sale?

Nobby, you are far to personal and derogatory. You're green boxed.

Nobby, I put the caveat that it was a mention, not a fact - for clarity you should have done something similar.

Nobby, I repeat - where did the thought about an update re the legal case come from?

Nobby, where did you get the info re an update by now

Just done the above. I paid 10.8p. The reason was that I don't think there'll be much down side now that the cash is there and the next news should be a positive re production and sales - bound to push up the SP.

Hi bluerill - nobby doesn't really read other peoples posts properly as he only wants to promote his own twisted version of events. He's beginning to look like a green box candidate.